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☆ Why Biden’s monster EV tariffs could inflame a Europe-China trade war
▼ + stars: | 2024-05-15 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

It’s a very different matter in Europe — by far the biggest export market for Chinese EV manufacturers. EU tariffs could backfireAccording to Citi, the EU accounted for 36% of Chinese EV exports last year, more than the next five largest markets combined. By contrast, the United States currently receives just 1.1% of China’s EV exports. For BYD, China’s biggest EV maker, the tariffs would likely have to be even higher to be effective, they add. “I’d say we are entering a very tense period in terms of trade interactions and trade defense,” she added.

Persons: Joe Biden, “ I’m, ” Biden, Joseph Webster, Agatha Kratz, Kratz, That’s, Oliver Zipse, ”, Tu Le, “, Josh Lipsky, Juliana Liu Organizations: London CNN, United, EV, European Union, Atlantic Council, EU, CNN, Citi, Capital Economics, BMW Locations: China, America, Europe, United States, It’s, Brussels, “ Brussels, Beijing, subsidization, EU, States, Italy, Hong Kong

☆ Recession risks are 'now more politics and geopolitics than economics,' says NBER's Lipsky
▼ + stars: | 2024-01-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRecession risks are 'now more politics and geopolitics than economics,' says NBER's LipskyJohn Lipsky, director-at-large at the National Bureau of Economic Research, joins 'Money Movers' to discuss the week's economic data, how Lipsky considers the geopolitical climate, and more.

Persons: NBER's Lipsky John Lipsky, Lipsky Organizations: National Bureau of Economic Research

ANGELINA JOLIE has found her voice. But first, she says, she lost it. It was during hours of training to portray the opera singer Maria Callas in her turbulent final days, for an upcoming movie in which Jolie’s voice will be blended with the diva’s famously dramatic renditions of operatic arias.

Persons: ANGELINA JOLIE, Maria Callas

☆ The economy's performance post-COVID has been 'rather unique', says NBER's John Lipsky
▼ + stars: | 2023-11-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe economy's performance post-COVID has been 'rather unique', says NBER's John LipskyJohn Lipsky, NBER director, joins 'Closing Bell Overtime' to talk Fed Chair Powell's recent comments, recent economic data readings, what to expect from the economy in the coming months and more.

Persons: NBER's John Lipsky John Lipsky

☆ Analysis: Time for central bank digital currencies to prove their worth
▼ + stars: | 2023-10-22 | by ( Marc Jones | ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/Illustration//File Photo Acquire Licensing RightsLONDON, Oct 22 (Reuters) - A milestone move by the European Central Bank toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200 million users, India is gearing up for a pilot and some 130 countries representing 98% of the global economy are exploring digital cash. Commercial bankers fret about the costs and possible deposit bleeds as customers could move money into central bank accounts, while developing countries worry that an easily accessible digital dollar, euro or yuan could cause havoc in their systems. DEFINING A GLOBAL STANDARDA key unknown is whether the U.S. Federal Reserve or Bank of Japan will launch retail CBDCs. "The current adoption level of eNaira has been reflective of the early stage of CBDC awareness," the country's central bank said in a written response to questions, adding it had been "consistent" with expectations.

Persons: Dado Ruvic, Josh Lipsky, Fabio Panetta, couldn't, Lee Braine, Bo Li, Atlantic Council's Lipsky, Lipsky, Marc Jones, MacDonald Dzirutwe, William Mallard Organizations: REUTERS, European Central Bank, Reuters, Atlantic Council, Facebook, ECB, Barclays, Bank of, U.S . Federal Reserve, Bank of Japan, International Monetary Fund, Atlantic, Thomson Locations: China, India, Western, Nigeria, U.S, Canada, Bahamas, London, Lagos

IMF Managing Director Kristalina Georgieva did not mention the new conflict at opening events. The inability to respond extended to chair's statements issued by the Group of 20 major economies and the IMF and World Bank steering committees, which failed to mention the conflict. "You know, without peace, it's hard for people to get stability, growth, look after their children, get jobs," he said. But conflicts remain the biggest challenge to the global economy, said Josh Lipsky, a former IMF official who directs the Atlantic Council's GeoEconomics Center. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two."

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, Group, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Bali, Africa

The Group of 20 major economies did reach consensus on an official communique but omitted any mention of the Israel-Hamas war. Senior World Bank Group officials were more pointed in a statement to staff, saying they were "shocked and appalled by the unprecedented escalation of violence in Israel and Gaza." "We condemn terrorism in all forms, including the abhorrent targeting of innocent civilians and kidnapping," the leaders of the World Bank, the International Finance Corp and the Multilateral Investment Guarantee Agency, said in an internal statement seen by Reuters. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two." Reporting by Andrea Shalal and David Lawder; Editing by Giles Elgood and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood, Stephen Coates Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, U.S, Treasury, Bank Group, International Finance Corp, Multilateral Investment Guarantee Agency, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Africa

POINT PLEASANT BEACH, N.J. (AP) — As the U.S. races to build offshore wind power projects, transforming coastlines from Maine to South Carolina, much remains unknown about how the facilities could affect the environment. So far, four offshore wind projects have been approved by the federal government for the U.S. East Coast, according to the American Clean Power Association. The company is a Danish wind power business that will build two of the three offshore projects approved for New Jersey. Numerous others have been proposed, and the U.S. Bureau of Ocean Energy Management plans to review at least 16 offshore wind projects by 2025. The federal government has endorsed — but not required — compensation to the fishing industry for negative effects from offshore wind.

Persons: ”, Jim Hutchinson, ’, Greg Cudnik, Andy Lipsky, Phil Sgro, Meghan Lapp, “, Keith Craffey, Sgro, —, Frank Pallone Jr, Wayne Parry Organizations: PLEASANT, The Fisherman, U.S ., American Clean Power Association, Atlantic, U.S . Bureau of Ocean Energy Management, Fisheries Science, Biden Administration, Seafreeze, New, Baymen’s, Association, U.S . Commerce Department, Orsted, U.S . Rep, New Jersey Democrat, Twitter Locations: N.J, U.S, Maine, South Carolina, New Jersey, U.S . East Coast, , New York, Montauk, Atlantic City, Ocean City, Danish, Point Judith, Rhode Island, , New Jersey, American, —, United States, America, North Kingstown, New, Raritan, New York, New England, Block Island

☆ China president Xi's absence from this year's G20 summit is a big deal, says Josh Lipsky
▼ + stars: | 2023-09-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina president Xi's absence from this year's G20 summit is a big deal, says Josh LipskyJosh Lipsky, Senior Director of the Geoeconomics Center at the Atlantic Council, discusses his expectations for this year's G20 Summit.

Persons: Xi's, Josh Lipsky Josh Lipsky Organizations: Email China, Geoeconomics, Atlantic Council

WASHINGTON (AP) — Treasury Secretary Janet Yellen is facing growing skepticism from some leading rich and developing nations as the residual impact of sanctions against Russia is deepening divisions among the Group of 20 countries. Russia and China, meanwhile, have declared a “no limits” partnership of their own. And the economic bloc of Brazil, Russia, India, China and South Africa — known as BRICS — is trying to increase its use of local currencies instead of the U.S. dollar. Russia is hoping it can use its power over Ukraine’s Black Sea exports as a bargaining chip to reduce Western sanctions. That may be difficult as G20 nations increasingly gravitate into blocs and with some leaders, including Chinese President Xi Jinping, opting to skip the summit.

Persons: Janet Yellen, —, Joe Biden, Yellen, Vladimir Putin, Putin, Rachel Ziemba, ”, Xi Jinping, Josh Lipsky, Lipsky, Xi, Mark Sobel, ” Sobel, Ziemba Organizations: WASHINGTON, —, U.S ., West, Center, New, New American Security, Treasury Department, International Fund for Agricultural Development, GeoEconomics, Fund, Center for Strategic, International Studies, U.S, New Development Bank, Monetary Fund, World Bank, ”, European Union Locations: Russia, India, U.S, Moscow, Ukraine, United States, China, Brazil, South Africa, New Delhi, New American, Argentina, Australia, Britain, Canada, France, Germany, Indonesia, Italy, Japan, Mexico, Saudi Arabia, South Korea, Turkey

☆ Chanel’s Unexpected CEO Is Reinventing the Company
▼ + stars: | 2023-08-27 | by ( Elisa Lipsky-Karasz | Photography Jody Rogac For Wsj. Magazine | ) www.wsj.com time to read: 1 min

Chanel’s Unexpected CEO Is Reinventing the Company When it came time to hire a new CEO, the luxury fashion house made a surprisingly bold choice in Leena Nair“If somebody told me I would have the chance to do what I’m doing today, I would not have believed them,” Nair says of taking the CEO role at Chanel. Andy Warhol, ‘Chanel,’ 1985, from the Ads series, acrylic and silkscreen ink on canvas, 22 x 22 inches, © The Andy Warhol Foundation for the Visual Arts / Artists Rights Society (ARS), New York / Ronald Feldman Gallery, New York (6)

Persons: Leena Nair, ” Nair, Chanel, Andy Warhol, ‘ Chanel, Ronald Feldman Organizations: Andy Warhol Foundation, Visual Arts, Artists Rights Society Locations: New York

☆ NBER Chair John Lipsky: There's good reason to believe inflation will moderate without Fed action
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNBER Chair John Lipsky: There's good reason to believe inflation will moderate without Fed actionJohn Lipsky, National Bureau of Economic Research chair, joins 'Squawk on the Street' to discuss Lipsky's inflation optimism, what prices will begin to fall with the higher cost of capital, and more.

Persons: John Lipsky Organizations: National Bureau of Economic Research

☆ Welcome to the Dollar War: a Global Fight Over America's Economic Dominance
▼ + stars: | 2023-07-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +17 min

The US even reminded everyone just how influential the buck is when it effectively froze Russia out of the global financial system with sanctions last year. Becoming the issuer of the global reserve currency is about trust. The US has controlled the global reserve currency for 102 years — giving it a special status in the world economy. Still, given that the country controlling the global reserve currency holds that status of an average of 94 years, history seems to indicate it's high time for a successor. Why shouldn't the financial world resemble something closer to the mosaic of cultures, politics, and nations that exists today?

Persons: Chenzi Xu, there's, Xu, —, Ron Temple, Gregory Brew, Eurasia's Brew, dollarizing, Stephen Jen, Jen, we've, Stanford's Xu, Luiz Inácio Lula da Silva, Josh Lipsky, " Lipsky, It's, Alexander Wise, Jan Loeys, Loeys, dollarization, Wise, Lazard's Temple, isn't, Phil Rosen Organizations: Stanford, Federal, European Central Bank, People's Bank of China, Lazard, Publishing, Getty Images, International Monetary Fund, Bank of International Settlements, Eurasia Group, Sandman's, Eurizon, IMF, Atlantic Council, JPMorgan Locations: Russia, Israel, France, China, America, Saudi Arabia, Brazil, India, Pakistan, Bolivia, Iraq, South Africa, Beijing

☆ A Global Warming Book for the Streaming Age
▼ + stars: | 2023-07-10 | by ( Zoë Schlanger | ) www.nytimes.com time to read: +2 min

Lipsky’s book is a project of maximum ambition. He retells the entire climate story, from the dawn of electricity to the dire straits of our present day. We usually think of global warming as a modern malady, Lipsky writes, one that began in our lifetimes. Of course, all the modern climate graphs show that the red line had crept up by then. The book takes its title from two moments in time.

Persons: David Lipsky, David Lipsky’s, Lipsky, David Foster Wallace, Roger Revelle Organizations: The New York Times Locations: Swedish

Launching 818 has given her freedom. “In modeling you are what someone wants you to be. Where you show up on set, the makeup, the hair. You wear what they tell you to wear, and you take the photo that they want to see,” she says.

Persons: ”

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/kendall-jenner-interview-nepo-baby-9a857a57

Persons: Dow Jones, kendall, jenner

☆ How the Record Man Harvey Averne Helped Take Latin Music Worldwide
▼ + stars: | 2023-06-13 | by ( Jessica Lipsky | ) www.nytimes.com time to read: +1 min

Harvey Averne begins most days with a bialy and whitefish salad. He watches “Morning Joe,” plays with his cat, Coco Baby, and fields calls from Latin music legends like Joe Bataan at his eclectic but tidy Woodhaven, Queens apartment. Averne is one of the last of the Latin music giants: a Jewish kid from East New York who had a hand in the development of Latin music, from the borscht belt to boogaloo and salsa. “I didn’t understand a word they’re saying, but that’s OK — you don’t understand a word in the opera.”As a producer, manager and musician, Averne has a storied history behind the scenes at some of New York’s biggest Latin music labels. At his own Coco Records, which released Latin jazz and salsa, Averne’s work with the pianist Eddie Palmieri earned the first two Grammy Awards for Latin music.

Persons: Harvey Averne, ”, Coco Baby, Joe Bataan, Celia Cruz —, Averne, ” Averne, “, Willie Colón, Larry Harlow, Ralfi Pagan, Ray Barretto, Eddie Palmieri Organizations: East New, Fania Records, Coco Records Locations: Woodhaven, Queens, East, East New York

☆ Stock market news: The Fed meets next week. What can investors expect?
▼ + stars: | 2023-06-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 Index last week entered a bull market, meaning that it notched a 20% rally from its low in October. Moreover, investors appeared calmer than they have in years, after the United States suspended the debt ceiling in time to avoid a default, allowing investors to breathe a sigh of relief. The May Consumer Price Index and Producer Price Index reports, two key inflation prints, are also due the days that the Fed meets. But the United States could still suffer a downgrade to its credit rating, even though it avoided losing its ability to make payments on time. Tuesday: Consumer Price Index report for May and NFIB small business optimism index.

Persons: CNN — Stocks, Price, ”, JJ Kinahan, there’s, Karim El Nokali, Jerome Powell, ” El Nokali, —, Joe Biden, Benjamin Jeffery, Patrick Klein, ” Josh Lipsky, it’s, Olivier d’Assier, “ It’s, George Mateyo Organizations: CNN Business, Bell, CNN, Nasdaq, United, Fed, IG North America, Fitch, AAA, BMO Capital Markets, Franklin, GeoEconomics, International Monetary Fund, Treasury Department, US Treasury, Key Private Bank, Federal Reserve Bank of New York Survey, Consumer, Federal Reserve, Federal, University of Michigan Locations: United States, US

☆ A debt-ceiling deal may be close but the crisis likely isn't solved for good. Here's what would happen if the US actually defaulted on its debt.
▼ + stars: | 2023-05-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

So the Treasury market remains intact in this scenario? JL: The broader US economy will suffer, the stock market will suffer, there will be higher unemployment. So just because the Treasury market ends up doing fine does not mean good news for the US economy. If you think the stock market isn't signaling there's a recession looming, David Rosenberg says otherwise. The AI hype gripping the stock market will resemble a mini dot-com bubble, according to UBS's Art Cashin.

☆ Debt ceiling crisis: How a US default would ricochet around the world
▼ + stars: | 2023-05-26 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

But if it does, it could make the 2008 global financial crisis feel like a walk in the park. The consequences are frightful.”The belief that America’s government will pay its creditors on time underpins the smooth functioning of the global financial system. During the 2011 standoff over raising the US debt ceiling, the S&P 500 index of leading US shares plunged more than 15%. “It’s unclear in a Treasury default crisis whether the Fed could do enough even with the types of efforts it deployed in March 2020,” Obstfeld said. “A default would be a message to investors all around the world of eroding confidence in America,” he added.

☆ Why China and Japan are praying the US won’t default
▼ + stars: | 2023-05-25 | by ( Laura He | ) edition.cnn.com time to read: +8 min

China and Japan are the largest foreign investors in American government debt. China was the largest foreign creditor to the United States for more than a decade. The falling value of Treasuries would lead to a drop in Japan and China’s foreign reserves. “If the United States defaults on its debt, it will not only discredit the United States, but also bring real financial losses to China,” it said. Analysts say Beijing has shown little willingness to fully integrate with global financial markets.

☆ Russia and China hit back at a G7 that saw them as a threat
▼ + stars: | 2023-05-21 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +6 min

CNN —Moscow and Beijing lashed out against the Group of Seven (G7) summit in Hiroshima, where leaders of major democracies pledged new measures targeting Russia and spoke in one voice on their growing concerns over China. Russian Foreign Minister Sergey Lavrov on Saturday slammed the G7 for indulging in their “own greatness” with an agenda that aimed to “deter” Russia and China. G7 member countries are Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. Concern about such incidents was reflected in the G7 statement on ensuring economic security and countering economic coercion, which did not explicitly mention China. “The bottom line is that the G7 has shown it will increasingly focus on China and will try to maintain a coordinated policy approach.

☆ Exclusive: G7 summit statement to target China's 'economic coercion'
▼ + stars: | 2023-05-13 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +5 min

The main G7 statement is set to include "a section specific to China" with a list of concerns that include "economic coercion and other behavior that we have seen specifically from the [People's Republic of China]," the official said on Friday. A separate "economic security statement will speak more to tools" used to counter coercive efforts from any countries responsible, including planning and coordination, the person said. The joint statement issued by all the G7 leaders every year is intended to signal that the powerful countries are aligned on a range of political and economic issues. CHINA TESTS G7 ALLIANCEThe G7 meeting will be a test of how much the members, all rich democracies, can agree on a common approach to China, the world's second largest economy. Traveling for the G7 finance meeting in Japan, U.S. Treasury Secretary Janet Yellen said on Thursday that China had clearly used economic coercion with Australia and Lithuania.

☆ How non-compete clauses cost Americans $300 billion a year
▼ + stars: | 2023-05-07 | by ( Kate Sammer | ) www.cnbc.com time to read: +1 min

The debate over the use and abuse of non-compete has come to a head, with the Federal Trade Commission proposing a new ban on non-competes. The FTC estimates that a ban on non-competes would expand career opportunities for 30 million Americans and increase wages by nearly $300 billion annually. Non-compete contracts were initially given to executive-level employees as a means to protect trade secrets. It is estimated that 18% of U.S. workers are bound by non-compete contracts. Watch the video above to learn more about the FTC's battle to ban non-compete contracts

☆ The New York Sun hires former News Corp. exec and MailOnline boss Noah Kotch
▼ + stars: | 2023-04-05 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +2 min

The New York Sun has hired online and television news veteran Noah Kotch as managing editor. Kotch will work with editor Seth Lipsky to grow the newsroom and find new audiences. The New York Sun, a conservative-leaning online newspaper, has hired former top News Corp. executive Noah Kotch as managing editor, the company confirmed. Kotch was most recently general manager at News Corp., where he worked on projects such as AI-powered news aggregator Knewz. In a brief phone interview Efune said The New York Sun is about "principle over politics and people over party."

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