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☆ EU Readies Subsidy Response to U.S. Clean-Tech Tax Breaks
▼ + stars: | 2023-01-17 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

Olena Zelenska, Ukraine’s first lady, wearing a broach, and Ursula von der Leyen, president of the European Commission, at the World Economic Forum in Davos, Switzerland, on Tuesday. BRUSSELS—Europe aims to provide more support to its domestic clean-tech industry in a push to counter subsidies from the U.S. and China, European Commission President Ursula von der Leyen said Tuesday. In a speech to the World Economic Forum in Davos, Switzerland, Ms. von der Leyen said the transition away from fossil fuels was causing significant geopolitical and industrial changes. Ms. von der Leyen, who leads the EU’s executive arm, said many countries, including the U.S. and China, were investing heavily in clean technology and Europe would have to do the same to remain competitive.

☆ DAVOS 2023: EU's Von der Leyen backs listing Iran's Guards as terrorist group
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +3 min

DAVOS, Switzerland, Jan 17 (Reuters) - European Commission President Ursula von der Leyen said on Tuesday she backed listing Iran's Revolutionary Guards (IRGC) as a terrorist organisation to respond to the "trampling" of "fundamental human rights" in the country. Ties between the EU member states and Tehran have deteriorated in recent months as efforts to revive nuclear talks have stalled. The European Union is discussing a fourth round of sanctions against Tehran over the crackdown and Iran's supply of weapons to Russia. "We are looking indeed at a new round of sanctions and I would support also listing the Revolutionary Guards. I have heard several ministers asking for that and I think they are right," Von der Leyen said.

The EU is concerned that European companies will move to the United States, which has a $369 billion scheme to subsidise green production. The EU will therefore provide money for its industry as well, von der Leyen said. "To keep European industry attractive, there is a need to be competitive with the offers and incentives that are currently available outside the EU," she said. For the medium term, we will prepare a European Sovereignty Fund as part of the mid-term review of our budget later this year," von der Leyen said. She said the Commission was now working on what the needs of the green industry were.

☆ EU announces new green proposals to rival Biden's Inflation Reduction Act
▼ + stars: | 2023-01-17 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The announcement comes just months after the U.S. launched its own Inflation Reduction Act. "The EU continues to seek similar, non-discriminatory treatment of EU clean vehicle producers under the Clean Vehicle Credits of the Inflation Reduction Act. This scheme remains of concern to the EU, as it contains discriminatory provisions," the European Commission said in a statement in late December. While discussions with the U.S. continue, von der Leyen wants to cut red tape in Europe and step up green investments. But as this will take some time, we will look at a bridging solution to provide fast and targeted support where it is most needed," von der Leyen said in Davos.

☆ EU must seek to de-risk rather than decouple from China, von der Leyen says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

DAVOS, Switzerland, Jan 17 (Reuters) - The European Union needs to work and trade with China on clean tech and push for a level playing field rather than seek to decouple from the world's second-largest economy, European Commission President Ursula von der Leyen said on Tuesday. Von der Leyen said in a speech at the World Economic Forum (WEF) annual meeting in Davos that China had made boosting clean tech innovation and manufacturing a key priority in its five-year plan, dominating in sectors such as electric vehicles and solar panels. China, she said, heavily subsidises its industry and restricts access to its market for EU companies. "We will still need to work and trade with China – especially when it comes to this transition. This meant using the EU's trade and domestic defence tools, such as the recently implemented foreign subsidies regulation.

☆ Davos 2023: Ukraine's first lady to deliver letter from Zelenskiy for China
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

DAVOS, Switzerland, Jan 17 (Reuters) - Ukraine's first lady told the World Economic Forum on Tuesday she would deliver a letter to China's delegation setting out President Volodymyr Zelenskiy's proposals for ending Russia's war against his country. China, like Russia a permanent member of the United Nations Security Council, is an important partner for Moscow and has refused to condemn Russia's invasion of Ukraine. She said she also had letters for European Commission President Ursula von der Leyen and Swiss President Alain Berset. "Today I will give the colleagues participating in this part (of the forum) 'formula letters' from the president of Ukraine," she said in Ukrainian. "How does the world expect to reach climate neutrality, if it can’t even stop the burning down of whole Ukrainian cities.

☆ Davos 2023: The World Economic Forum explained
▼ + stars: | 2023-01-16 | by ( Siddharth K | ) www.reuters.com time to read: +4 min

DAVOS, Switzerland, Jan 16 (Reuters) - The World Economic Forum (WEF) returns to its snowy winter residency in the Swiss Alps this week with a record attendance of business and government leaders. The WEF's roots stretch back to 1971 when its founder Klaus Schwab invited executives from European companies to the then tiny ski resort of Davos, high in the Swiss Alps. With climate change top of the agenda, chiefs of major energy companies are back after a COVID-related hiatus. Others include IMF Managing Director Kristalina Georgieva, European Central Bank chief Christine Lagarde, NATO General Secretary Jens Stoltenberg, President of the European Commission Ursula von der Leyen and Chinese Vice-Premier Liu He. Climate change topped the WEF's survey of global risk and energy company executives will mix with climate activists and environment ministers at the forum.

☆ Davos draws record crowds, but its relevance is fading
▼ + stars: | 2023-01-16 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

Data from the World Bank shows that global trade of goods and services as a percentage of total economic output peaked that year. A wooden sign on the waterfront of Lake Davos in Davos, Switzerland, on Jan. 8, 2023. Just look to Italy’s new prime minister, Giorgia Meloni, who was installed in October. Those skipping the gathering this year include US President Joe Biden, China’s Xi Jinping, Indian Prime Minister Narendra Modi, French President Emmanuel Macron and UK Prime Minister Rishi Sunak. That raises questions about whether Davos can hang on to its reputation an essential event for the rich and powerful.

☆ Poland, Lithuania want nuclear curbs in new EU sanctions on Russia
▼ + stars: | 2023-01-13 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustrations/File PhotoBRUSSELS, Jan 13 (Reuters) - Poland and Lithuania want the European Union to impose restrictions on Russia's nuclear sector as part of new sanctions against Moscow and Minsk for the war in Ukraine, senior diplomats from the two EU countries said on Friday. They said the 10th EU package of sanctions since Russia invaded Ukraine should be ready in time for the first anniversary of the invasion on Feb. 24. They wanted new sanctions against Russia's ally Belarus, where they said loopholes allowed it to bypass European sanctions against Moscow in trading goods including furniture. They proposed that Rosatom and/or its leadership be blacklisted as a first step that should then lead to winding down cooperation in the EU with Russia's nuclear industry. The senior diplomats said they would also try again to end Belgium's diamond trade with Russia through new EU sanctions and expand bans on trade in goods that can be used for military purposes.

[1/2] European Commission President Ursula von der Leyen and Sweden's Prime Minister Ulf Kristersson attend the inauguration of Esrange's new satellite launch ramp, Spaceport Esrange outside Kiruna, Sweden, January 13, 2023. The Commission is planning to loosen state aid rules, but some EU countries can spend more than others. Von der Leyen said the bloc needed "credible and ambitious" financing tools to preserve the single market. She said the Commission was working on an assessment of what the EU clean tech sector needed to compete with U.S. rivals. Yet Scholz's own Social Democrats published a paper on Thursday saying that new EU joint borrowing should be "constructively examined".

☆ Swedish PM Kristersson says EU needs to discuss competitiveness, not just state-aid
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: 1 min

STOCKHOLM, Jan 13 (Reuters) - The European Union needs to improve long-term competitiveness and not just provide support for companies in the green tech sector where nations like China and the United States are providing subsidies, Sweden's prime minister said on Friday. "We need to start a real discussion on how to improve productivity, how to enhance competitiveness and how to attract more companies based on our own capabilities and not based on long-term state aid rules," Ulf Kristersson told reporters during a media conference with European Commission President Ursula von der Leyen. Reporting by Simon Johnson; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: Here's what will drive markets this year
▼ + stars: | 2023-01-03 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

Markets are pushing higher but don’t get comfortable just yet — if last year taught us anything it’s to expect the unexpected. Russia and UkraineIn late February Russia invaded Ukraine and began a prolonged war that would drive global food and fuel prices sky-high. The CEO of Tesla, SpaceX and Twitter is now worth $137 billion, according to the Bloomberg Billionaires Index. Musk’s $44 billion purchase of Twitter hasn’t helped Tesla’s stock or Musk’s personal wealth, either. Musk, Tesla’s largest shareholder, has sold $23 billion worth of Tesla shares since his interest in Twitter became public in April.

☆ Russia's war on Ukraine latest: Russia says 63 servicemen killed in Makiivka
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: +3 min

Ukraine said it had shot down all Russian drones fired in a third straight night of air strikes. FIGHTING* Russia said 63 Russian soldiers had been killed in a Ukrainian New Year's Eve attack on their quarters in the town of Makiivka, triggering furious criticism of the military leadership from lawmakers and pro-war bloggers. * Russia is planning a protracted campaign of attacks with Iranian drones to "exhaust" Ukraine, President Volodymyr Zelenskiy said. Ukrainian servicemen ride an Armoured Personnel Carrier (APC), as Russia's attack on Ukraine continues, in the village of Torske, Donetsk region, Ukraine December 30, 2022. * Russian Defence Minister Sergei Shoigu said victory for Russia over Ukraine was "inevitable" as he hailed Russian soldiers' heroism in a New Year's video message.

☆ Historic new year for Croatia as it joins euro, Schengen area
▼ + stars: | 2023-01-01 | by ( ) www.reuters.com time to read: +2 min

[1/2] A police member stands guard while the border opens as Croatia enters the EU's control-free Schengen area, in Bregana, Croatia, January 1, 2023. "Today Croatia joins the Schengen Area and the eurozone, two immense achievements for the youngest member state of the European Union and both reached on the very same day. Plenkovic and von der Leyen later toured the capital Zagreb where they bought coffee in a cafe using euros, which replaced Croatia's kuna currency. After a server brought their coffees to an outdoor table, Plenkovic paid with a handful of euro notes, while von der Leyen, seated next to him, applauded. It becomes the 27th country to join the Schengen area, and the 20th to adopt the euro currency.

☆ EU-Ukraine summit set for Feb 3, location not decided
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +1 min

The location of the summit has not been determined yet. "I can confirm the EU-Ukraine summit will take place on 3 February and there is an open invitation to President Zelenskiy to visit Brussels," said Barend Leyts, spokesman for the chairman of EU leaders. The spokesman said the invitation for Zelenskiy to visit Brussels did not mean that's where the summit would be held. Officials said the theme of the summit was likely to be how the EU can continue to support Ukraine against Russia. The leaders of the EU's two key institutions -- the Commission and the council of EU leaders -- would also assess Ukraine's path to membership in the bloc.

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☆ Ex-academic forges a new career denying Trump's 2020 election loss
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +27 min

“The war is just getting started,” Clements told his 100,000 Telegram followers on Nov. 16. His rise in the movement began in January 2021, when a dispute with his employer, New Mexico State University, over the U.S. Capitol riot went public. ‘I will not take the jab’Clements’ swift rise in election-denier circles caused a stir at New Mexico State, where he continued to teach. Flynn co-founded the America Project, a well-capitalized right-wing group that has financed lawsuits and campaigns challenging the 2020 election results and the integrity of U.S. voting systems. One of their roles is to certify election results, which until the Trump era was typically a rubber-stamp formality.

☆ Four leaders sign agreement to bring green Azeri energy to Europe
▼ + stars: | 2022-12-17 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: 1 min

BUCHAREST, Dec 17 (Reuters) - The leaders of Azerbaijan, Georgia, Romania and Hungary signed an agreement on Saturday on an underwater electric cable under the Black Sea to carry green Azeri energy to Europe. "Given the current security context marked by the military aggression against Ukraine we need to cooperate better and show more solidarity to mitigate common challenges," Romanian President Klaus Iohannis told the meeting, also attended by European Commission President Ursula von der Leyen. Reporting by Gergely Szakacs and Luiza Ilie, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ EU leaders head for tussle over rescue plans for industry
▼ + stars: | 2022-12-15 | by ( John Chalmers | ) www.reuters.com time to read: +3 min

EU Commission President Ursula von der Leyen proposed ahead of the summit to loosen state aid rules in renewable energy and clean-tech to shield European industry. "Some governments have deep pockets and extensive possibilities to support their industry through national schemes, others have not," said one senior EU diplomat. "We don't want a national subsidy race among member states ... but there have to be carefully drafted limits." This has been held up by disagreement over whether or how to offer exemptions for an EU ban on Russia fertiliser exports. A draft of the summit conclusions said leaders would call for more gas deals urgently to replace Russian fuel, including through joint gas buying among EU countries.

☆ EU angst over “Buy American” reopens old wounds
▼ + stars: | 2022-12-14 | by ( Rebecca Christie | ) www.reuters.com time to read: +4 min

The European Commission is the main gatekeeper on state aid, which the EU limits to protect fair competition in the single market. Von der Leyen’s plan might let it decide which champions are deserving in the first place. The free spending has sparked concerns of a handout war with other European countries, particularly given the EU’s recent focus on fiscal discipline. Von der Leyen wants to create a central pot of money to provide catch-up funds to smaller countries. Relaxing EU state aid rules fairly won’t be easy, and Europe will need a clearer industrial policy beyond handing out cash.

☆ Europe moves closer on limiting natural gas prices as Brussels looks to protect consumers
▼ + stars: | 2022-12-13 | by ( Silvia Amaro | ) www.cnbc.com time to read: +2 min

The EU is nearing a deal over a cap on gas prices. Helder Faria | Moment | Getty ImagesThe European Union is nearing an agreement over a cap on natural gas prices, with Brussels already starting preparations for the next winter as the global energy crisis shows no signs of going away. EU energy ministers gathered in Brussels, Belgium, on Tuesday to discuss the details over a cap on natural gas prices. Officials have suggested that the cap could land between 180 euros and 220 euros per megawatt hour. This as the International Energy Agency warns there could be a gas shortage of 30 billion cubic meters in 2023.

☆ EU eyes new fund for energy investments to quit Russian gas
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: 1 min

BRUSSELS, Dec 12 (Reuters) - The European Union needs to review its budget and consider launching a new fund for the major additional energy investments needed to wean countries off Russian gas, European Commission President Ursula von der Leyen said on Monday. "The question is whether it [the EU budget] is still fit for purpose, and a fresh look through a midterm review of the budget would open the door to create a sovereignity fund," von der Leyen said. Von der Leyen declined to specify if this new fund would require the EU to take out further joint debt, but said the bloc's existing funds would need to be "augmented by other sources". Reporting by Kate AbnettOur Standards: The Thomson Reuters Trust Principles.

☆ EU Delays Labeling Lithium Toxic as Concerns From EV Industry Mount
▼ + stars: | 2022-12-12 | by ( Yusuf Khan | ) www.wsj.com time to read: +4 min

Last week, the European Commission was set to give a final ruling on whether lithium, a crucial battery input, should be classified as a toxic substance. Europe’s nascent battery companies are warning that investors may be drawn away from the continent to the U.S. where the IRA has created strong incentives to establish supply chains in the country. So far, within the European battery industry, Sweden’s Northvolt AB has been one of the few victories for the EU. She said the EU should “simplify and adapt” its rules that limit state funding to make it easier for public investments. For those looking to establish European battery production, the EU’s position on electric vehicles remains confusing.

☆ EU could face gas shortage next year, IEA warns
▼ + stars: | 2022-12-12 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 12 (Reuters) - The European Union has enough gas for the winter but could face a shortage next year if Russia cuts supplies further, the International Energy Agency (IEA) said on Monday, urging governments to act faster to save energy and expand renewables. Despite Russia slashing gas deliveries this year, Europe has averted a severe shortage and started the winter with brimming gas storage tanks - thanks in part to emergency EU measures to fill storage, plus a lucky spell of mild weather and high gas prices that dampened demand for the fuel. If Russia was to cut the small share of gas it still delivers to Europe, and Chinese gas demand rebounded from COVID-19 lockdown-induced lows, the EU could face a gas shortfall of 27 billion cubic metres (bcm) in 2023, the IEA said. Total EU gas consumption was 412 bcm in 2021, according to EU data. European Commission President Ursula von der Leyen said the bloc's gas supply was "safe for this winter" and the 27-country EU was preparing for the next one.

☆ Italian President Mattarella tests positive for COVID
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: 1 min

ROME, Dec 10 (Reuters) - Italian President Sergio Mattarella, 81, has tested positive for COVID-19 but has few symptoms beyond a slight fever, his office said in a statement on Saturday. Mattarella has cancelled his appointments for the coming days but will continue with his other duties in isolation from his apartment in the Quirinale Palace in Rome, the statement added. He made a high-profile appearance on Wednesday when he attended the opening night of the new season at La Scala opera house in Milan, along with Prime Minister Giorgia Meloni and European Commission President Ursula von der Leyen. The president in Italy has largely ceremonial duties but is responsible for resolving political crises when they occur. Writing by Keith Weir; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

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