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☆ China is worried about overcapacity, too — but it sees the problem differently than the US
▼ + stars: | 2024-04-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The US treasury secretary raised concerns about China's overproduction in her recent visit to the country. China has hit back at her concerns, but it's also concerned about overcapacity, an economist says. Just like the US and all of China's trading partners, Chinese authorities are concerned about industrial overcapacity and want to curb it. She added that China's trade surplus with the world meant there might be fewer incentives for Beijing to tackle the issue. AdvertisementAnalysts expect the US debate over its trade issues with China to heat up heading into the presidential election season.

Persons: it's, —, Yue Su, Su, Janet Yellen, Janet Yellen's, Yellen, Li Qiang, Mao Ning, Mao Organizations: Service, Economist Intelligence Unit, European Union, EU, Commerce Department Locations: China, Beijing, People's Republic of China, Thailand, EU, —

☆ Free trade flaws fueled Trump's rise in 2016 — and the problems remain, top economist says
▼ + stars: | 2024-04-05 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Decades of trade deficits and a strong dollar created too many "losers" in the U.S. economy who turned to Donald Trump's protectionist policies, according to Richard Koo, chief economist at the Nomura Research Institute — and those conditions remain. Trump's "America First" economic policies led his administration to institute a slew of trade tariffs on China, Mexico, the European Union and others, including slapping 25% duties on imported steel and aluminum. These policies have drawn widespread criticism from economists, who argue that tariffs are counterproductive, as they make imported goods more expensive for the average American. "When we studied economics and free trade, in particular, we were taught...that free trade always creates both winners and losers in the same economy, but the gain that winners get is always greater than the loss of the losers, so the society as a whole always gains. So that's why the free trade is good," he noted.

Persons: Donald Trump, Jonathan Diller, Donald Trump's, Richard Koo, Trump, Steve Sedgwick, Koo Organizations: U.S, New York City Police Department, NYPD, Nomura Research Institute, European Union, Republican Locations: New, Rockaway, Queens, Massapequa Park , New York, U.S, China, Mexico

☆ The AI Apocalypse: Computer Algorithms Are Already in Control
▼ + stars: | 2024-04-02 | by ( Ed Zitron | ) www.businessinsider.com time to read: +12 min

But increasingly, the algorithms that undergird our digital lives are making questionable decisions that enrich the powerful and wreck the lives of average people. There's no reason to be scared of AI making decisions for you in the future — computers have already been doing so for quite some time. As human control diminished, the real-world consequences of these algorithms have piled up: Instagram's algorithm has been linked to a mental-health crisis in teenage girls. AdvertisementAcross the public and private sectors, we've handed the keys to a spiderweb of algorithms built with little public insight into how they make their decisions. While generative AI is just the newest extension of the algorithm, it poses a unique threat.

Persons: who's, They've, Matthew Gray, Sergey Brin, Larry Page, It's, Elon Musk, Cambridge Analytica, algorithmically, ProPublica, Quora, OpenAI's ChatGPT, you've, they'll, superintelligence, — simulacrums Organizations: Knight Capital, Companies, Yahoo, Stanford, Google, Spotify, Netflix, Revenue, Facebook, Twitter, Elon, European Union, Associated Press, Black, Microsoft, Eating Disorders Association Locations: Cambridge

☆ Angry Farmers Are Reshaping Europe
▼ + stars: | 2024-03-31 | by ( Roger Cohen | Ivor Prickett | ) www.nytimes.com time to read: +1 min

It was recognized in 1957 with a designation of origin, similar to that accorded a great Bordeaux. “The mash adds a little fat and softens the muscles formed in the fields to make the flesh moist and tender,” Mr. Sibelle explained with evident satisfaction. But if this farmer seemed passionate about his chickens, he is also drained by harsh realities. Mr. Sibelle, 59, is done. He and his wife, Maria, are about to sell a farm that has been in the family for over a century.

Persons: Jean, Michel Sibelle, Mr, Sibelle, Maria Organizations: European Union Locations: France, Bresse, Bordeaux

☆ France's Macron Says Proposed EU-Mercosur Agreement Is 'Very Bad Deal'
▼ + stars: | 2024-03-27 | by ( March | At P.M. | ) www.usnews.com time to read: +2 min

"As it is negotiated today, it is a very bad deal, for you and for us," Macron told businessmen in Sao Paulo while on a three-day trip to Latin America's largest economy, amid troubled talks over a free trade deal between the two economic blocs. "There is nothing that takes into consideration the subject of biodiversity and climate; nothing," Macron said. "Let's forge a new deal in light of our goals and reality, a trade deal that is responsible on development, climate and biodiversity." "It's true we lost an opportunity at the end of last year, but we should not give up on this deal." At upcoming G20 and COP summits in Brazil, Macron said he planned to push for more international standards to financially incentivize banks, firms and investors to decarbonize industrial processes and better preserve the environment.

Persons: Sarah Morland, Emmanuel Macron, Macron, Fernando Haddad, Haddad, Luiz Inacio Lula da Silva, Lula, Jair Bolsonaro, Eduardo Simoes, Jonathan Oatis, Kylie Madry, Kim Coghill Organizations: Reuters, European Union, South American Mercosur, Brazilian Finance Locations: Brazil, Sao Paulo, France, Africa, Mexico City

☆ European Union launches Big Tech investigation
▼ + stars: | 2024-03-25 | 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 EmailEuropean Union launches Big Tech investigationCNBC's Steve Kovach reports on news from the European Union and what it means for the top tech companies in the world.

Persons: Steve Kovach Organizations: European Union, Big Tech

☆ Netanyahu says he’s trying everything to get more aid to Gaza. Aid groups say that’s not true
▼ + stars: | 2024-03-18 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

In his interview with CNN, Netanyahu made several claims about his country’s aid policy in Gaza. The Israeli leader’s claim contradicts statements he made previously, in which he boasted about permitting “minimal humanitarian aid” to enter Gaza. “We provide minimal humanitarian aid,” Netanyahu said at a press conference in January. The first 15 days of March saw an average of 165 aid trucks per day cross into Gaza, UNRWA reported Sunday. The UN and other aid groups have reported some of their aid trucks had been looted, but haven’t ascribed any blame for it.

Persons: Benjamin Netanyahu, CNN’s Dana Bash, Netanyahu, Israel, ” Netanyahu, ”, Yoav Gallant, “, “ I’ve, Janti Soeripto, – we’ve, Martin Griffiths, Long, haven’t, Sameh Shoukry, Netanyahu lauds, Philippe Lazzarini, Israel hasn’t Organizations: CNN, Israeli, United Nations, European Union, Children, ” Trucks, UN, Food Programme, Palestine, UNRWA, Amnesty International, Aid, Palestinian, CNN Sunday, Israeli Defense Force Locations: Gaza, United States, Territories, Rafah, Israel, Egypt, Arish, airdrops

☆ How Irish business is winning in the US: It’s not all butter and cheese
▼ + stars: | 2024-03-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Irish companies have to think about being in an Irish domestic market which is frankly, really small, or just going global straightaway. The US is particularly strong for Irish companies; the US economy has held up well. I think Irish companies are very adept at pivoting into what other other countries need and being part of the story. It seems like Irish companies are increasingly becoming job creators in the US. Glanbia Foods, an Irish company that manufactures American-style cheese, now produces one in four slices of cheese consumed in the US.

Persons: Bell, Leo Clancy, Joe Biden, we’ve, it’s, that’s, That’s, We’re, It’s, We’ve, Tesla, Elon Musk’s Tesla, Wells, Colin Langan, ” Langan, Elisabeth Buchwald Organizations: CNN Business, Bell, New York CNN, European Union and International Monetary Fund, Enterprise Ireland, Patrick’s, Entrepreneurship, Federal Reserve, Companies, UBS, Tesla, NAR, National Association of Realtors Locations: New York, Ireland, United States, Jefferson , Wisconsin, America, Irish, Europe, Washington, We’re, automaking, Wells Fargo

NIAMEY, Niger (AP) — Niger's junta said Saturday the U.S. military presence in the country is no longer justified, making the announcement on state television after holding high-level talks with U.S. diplomatic and military officials this week. He said Niger was suspending military cooperation with Washington and added that U.S. flights over the country’s territory in recent weeks were illegal. The U.S. has also invested years and hundreds of millions of dollars in training Niger's military. Photos You Should See View All 60 ImagesThe Niger junta spokesman said the U.S. tone was condescending and threatened Niger's sovereignty. The U.S. military had some 650 personnel working in Niger in December, according to a White House report to Congress.

Persons: — Niger's, Maj, Amadou Abdramane, Niger's, Mohammed Bazoum, Molly Phee, Michael Langley, Phee, Jessica Donati Organizations: U.S, Washington, European Union, military's, Command, Niger, Associated Press Locations: NIAMEY, Niger, U.S, Africa's Sahel, Agadez, Niamey, Washington, Africa, France, Dakar, Senegal

☆ What About Nature Risk?
▼ + stars: | 2024-03-14 | by ( Manuela Andreoni | ) www.nytimes.com time to read: 1 min

Reporting the corporate risks of climate change is increasingly becoming a required part of doing business. This month, the Securities and Exchange Commission made such disclosures mandatory for public companies in the United States, following the lead from the European Union and California. But climate is not the only aspect of the natural world that is being transformed by human activity. Though corporate leaders often don’t talk about these other parts of nature, they could deeply impact the corporate world in ways that we are only beginning to measure. Will policies to stop ocean pollution impact how companies produce plastic?

Organizations: Securities and Exchange Commission, European Union and Locations: United States, European Union and California

☆ Geert Wilders abandons Dutch PM bid despite election victory
▼ + stars: | 2024-03-14 | by ( Christian Edwards | ) edition.cnn.com time to read: +3 min

CNN —Populist firebrand Geert Wilders has conceded that he will not become the next prime minister of the Netherlands because his potential coalition backers have refused to back him. “I can only become Prime Minister if ALL parties in the coalition support it. Similarly, Swedish Prime Minister Ulif Kristersson relies on the votes of the increasingly Euroskeptic, anti-immigrant Sweden Democrats. Despite admitting defeat this time, Wilders pledged to continue his push to become prime minister in the future. “Don’t forget: I will still become Prime Minister of the Netherlands.

Persons: Geert Wilders, Wilders ’, “, Wilders, ” Wilders, ”, Mark Rutte, Pieter Omtzigt, sanitaire, Jean, Marie Le Pen, Marine, Lionel Jospin, Jacques Chirac, Petteri Orpo, Sanna Marin, Ulif Kristersson, Robert Fico, “ Don’t Organizations: CNN, Democracy Party, Social Contract Party, European Union, National, Socialist, Socialists, Finns Party, Swedish, Sweden Democrats, Georgia Meloni Locations: Netherlands, Europe, Ukraine, Finland, Sweden, Georgia, Italy, Slovakia

CNN —Hungarian Prime Minister Viktor Orbán has said Donald Trump would effectively end the war in Ukraine by cutting off funding to Kyiv, should the former US president return to power in November. “He (Trump) has a very clear vision,” Orbán said in an interview to Hungarian broadcaster M1 broadcast on Sunday. That’s why the war will end, because it’s obvious that Ukraine cannot stand on its own two feet.”Orbán’s comments came after Trump hosted the Hungarian strongman at Mar-a-Lago on Friday. And then the war will end,” Orbán said. Hungary's Prime Minister Viktor Orban and former US President Donald Trump are seen at the White House in 2019.

Persons: Viktor Orbán, Donald Trump, “, ” Orbán, Trump, Orbán, won’t, Vladimir Putin’s, Viktor Orban, Brendan Smialowski, Orban, Erdogan, anybody’s, ” John Bolton, CNN’s Jim Sciutto, Trump’s, Putin, ” Bolton, Kristen Holmes, Andrew Millman Organizations: CNN, Trump, Russo, Mar, European Union, NATO, Hungary's, White House, Getty, Republican, Ukraine Locations: Hungarian, Ukraine, Kyiv, Ukrainian, Florida, Hungary, Europe, Moscow, AFP, Turkey, NATO

☆ Trump pledges to get tough with tariffs again if elected
▼ + stars: | 2024-03-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Proclaiming that "I'm a big believer in tariffs," former President Donald Trump on Monday indicated he's likely to reinstitute duties on foreign goods should he win election to a second term. The comments come as Trump is running a close race in the polls with President Joe Biden. During his administration, from 2017-21, Trump instituted a variety of tariffs against China, Mexico, the European Union and others. They were destroying our entire steel industry, which was never doing very well over the last 25 years anyway ... because it's been eaten alive by foreign competition," Trump said. And every person in the steel industry, when they see me they started crying.

Persons: Donald Trump, Trump, Joe Biden, Biden, it's Organizations: CNBC, Republican, Trump, European Union, U.S Locations: China, Mexico, United States, U.S

☆ U.S. Military Ship Has Set Sail to Help Build Pier Off Gaza for Aid
▼ + stars: | 2024-03-10 | by ( Cassandra Vinograd | ) www.nytimes.com time to read: +3 min

The U.S. military said on Sunday that a ship had set sail carrying equipment to build a floating pier on Gaza’s coast, part of a Biden administration effort to deliver aid to the enclave by sea and help ease its hunger crisis. The administration’s plan for a pier and causeway, announced last week, could eventually help deliver as many as two million meals a day for residents of Gaza. On Sunday, the U.S. military said that an Army ship, the General Frank S. Besson, had set sail from a base near Norfolk, Va., a day earlier. The Israeli military will help coordinate the installation of the pier, Rear Adm. Daniel Hagari, a spokesman for the Israeli military, said on Saturday. They are trying to deliver the first sea shipment of food and humanitarian supplies to Gaza.

Persons: Biden, Frank S, Besson, “ Besson, Daniel Hagari, José Andrés, Helene Cooper, Gaya Gupta, Aaron Boxerman Organizations: U.S, Pentagon, Army, Seventh Transportation Brigade, United Nations, Aid, European Union, United Arab, United Locations: Gaza, Norfolk, Va, U.S, Israel, Britain, United Arab Emirates, Spanish, Cyprus, Larnaca

☆ Rupert Murdoch's new Russian fiancée ties him to a sprawling web of money — with some surprising connections
▼ + stars: | 2024-03-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

His fiancée, Elena Zhukova, was once married to Alexander Radkin Zhukov, a Russian oligarch. Her daughter, Dasha Zhukova, was married to Roman Abramovich from 2008 to 2017. Daniele Venturelli/WireImage via Getty ImagesZhukova shares a daughter with Zhukov, Dasha Zhukova. Dasha Zhukova is now married to Stavros Niarchos, the grandson of a Greek shipping tycoon. AdvertisementDasha Zhukova married Stavros Niarchos in January 2020.

Persons: Rupert Murdoch, Elena Zhukova, Alexander Radkin Zhukov, Dasha Zhukova, Roman Abramovich, —, Murdoch, Vladimir Putin, Zhukova, Wendi Deng, Zhukov, hasn't, Daniele Venturelli, Dasha, Abramovich, Putin, backchannel, Vladimir Putin's backchannel, Mikhail Svetlov, Stavros Niarchos, Lexie Moreland, Murdoch didn't Organizations: Service, The Daily Mail, Guardian, Times, Getty, Premier League soccer, Chelsea Football Club, European Union, Penske Media, News Corp, Business Insider Locations: Russian, Italy, London, Russia, Ukraine, New York, Switzerland

It brings the U.S. closer to the European Union and California, which moved ahead earlier with corporate climate disclosure rules. The narrowed rule doesn’t include requirements that companies report some indirect emissions known as Scope 3. And small or emerging companies don’t have to report emissions at all. The SEC has said many companies already report such information, and the SEC’s rule would standardize such disclosures. More than 5,300 companies will be required to report their emissions under the California rule, according to Ceres, a nonprofit that works with investors and companies to address environmental challenges.

Persons: Caroline Crenshaw, “, ”, Hester Peirce, ” Peirce, —, Hana Vizcarra, Vizcarra, Gary Gensler, Gensler, ” Gensler, Coy Garrison, ” Suzanne Ashley, ” Ashley Organizations: WASHINGTON, U.S . Securities, Exchange Commission, U.S, European Union and, Publicly, SEC, Republican, Companies, Associated Press Locations: European Union and California, Earthjustice, U.S, overreach, California, Ceres, AP.org

☆ Ukraine needs the West to do more than seize Russian assets, Janet Yellen says
▼ + stars: | 2024-03-04 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Seizing Russian assets won't make up for the failure to send aid to Ukraine, Janet Yellen warned. Republicans have blocked a plan to send aid to Ukraine in a bid to force Joe Biden to take action on immigration. AdvertisementUkraine needs the West to do much more than just seize frozen Russian assets, according to Janet Yellen. AdvertisementG7 finance ministers met in Brazil last week to discuss what to do with frozen Russian assets worth about $300 billion. "I want to be very clear: we currently have no legal basis for the seizure of Russian assets," he said on the sidelines of the Brazil summit.

Persons: Janet Yellen, Joe Biden, —, São, Yellen, Bruno Le Maire, Biden Organizations: Republicans, Service, São Paulo, Kyiv, Bloomberg, European Union, US Locations: Ukraine, Japan, Brazil, Italy, Mexico

☆ Leaders should consider using frozen Russian assets to bolster Ukraine’s military, EU's von der Leyen says
▼ + stars: | 2024-02-28 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +2 min

The European officials and Canada's Prime Minister are visiting the capital Kyiv on the second anniversary of the start of the Russian full-scale invasion in Ukraine. (Photo by STR/NurPhoto via Getty Images)European leaders should discuss using the profits from frozen Russian assets to boost Ukraine's military in its defence efforts against Moscow, European Commission President Ursula von der Leyen said Wednesday. "It is time to start a conversation about using the windfall profits of frozen Russian assets to jointly purchase military equipment for Ukraine," she said in a speech before the European Parliament. "There could be no stronger symbol and no greater use for that money than to make Ukraine and all of Europe a safer place to live," von der Leyen noted. Crucially, frozen assets are, by definition, temporarily retained rather than fully seized with the ability for reallocation.

Persons: Ursula von der, Belgium Alexander De Croo, Giorgia Meloni, Canada Justin Trudeau, Ukraine Volodymyr Zelensky, Ursula von der Leyen, von der Leyen, Von der, Janet Yellen, Russia's Organizations: Canada's, Getty Images, European Union, Treasury, . Security, Bank Locations: Belgium, Italian, Canada, Ukraine, Kyiv, Russian, Moscow, Europe, Kuwait

☆ US divisions over Putin’s Russia present grave global implications
▼ + stars: | 2024-02-20 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —US politics is now split by a fault line over Russia that could have far graver global implications even than condemning Ukraine to defeat after President Vladimir Putin’s invasion. Trump has also not repudiated his recent comment that he’d invite Russia to invade NATO nations that fell short of non-binding targets on defense spending. Aside from the mysterious hold that Putin appears to exert over Trump, the ex-president’s hostility towards Ukraine is easily explainable. Opposing aid to Ukraine is also an almost perfect issue for the ex-president and his allies in the GOP primary. These pressures weigh on Republican lawmakers as they cast increasingly tough votes on Ukraine aid.

Persons: Vladimir Putin’s, Donald Trump, Trump, Mike Johnson –, Johnson, Joe Biden, Biden, Volodymyr Zelensky, Russia’s, ” Biden, Zelensky, –, Alexey Navalny, Hungary’s Viktor Orban, Putin’s, Putin, Trump’s, Kevin McCarthy’s, hasn’t, Ohio Sen, JD Vance, Ukraine “, Vladimir Putin, ” Vance, Barack Obama, “, ”, Vance, Nikki Haley, Haley, Sen, Pete Ricketts, Ricketts, ’ ” Ricketts, ‘, ’ ”, It’s, Mitch McConnell Organizations: CNN, Donald Trump Republicans, NATO, Trump, GOP, Senate, Republican, Soviet, European Union, Russian, Republican Party, Republicans, Munich, Ohio, United, Chicago Council, Global Affairs, Trump Republicans, Ukraine Locations: Russia, Ukraine, Europe, Avdiivka, Russian, Kremlin, America, United States, Munich, China, “, Ohio, Crimea, East Asia, Beijing, Moscow, Iran, North Korea, we’re, ’ ” The Nebraska, Soviet Union

☆ Small Croatian Town Builds Stone Mercedes Monument for Migrant Workers
▼ + stars: | 2024-02-16 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

IMOTSKI, Croatia (Reuters) - Local Croatian sculptor Roko Drzislav Rebic is carving a life-sized stone replica of a Mercedes Benz Minika car as a monument to the thousands of workers who left their homeland in search of a better fortune abroad. The monument will be revealed on June 8 in Imotski, a small town situated on the slopes of the Dinara mountain, 30 km (48 miles) from the famed Adriatic coast. Another was in 2018 after Croatia joined the European Union and thousands of young people left the country to work in Western Europe. Rebic told Reuters that the stone was brought from areas near Imotski and once the monument is finished it will weigh 50 tonnes. Topic said that according to his estimates there are up to 8,000 Mercedes cars in Imotski which has the population of 25,000.

Persons: Roko Drzislav, Mercedes, Ivan, Rebic, Antonio Bronic, Ivana Sekularac, Sharon Singleton Organizations: Mercedes Benz, Mercedes, Reuters, Croatia, European Union Locations: IMOTSKI, Croatia, Croatian, Imotski, Western Germany, Germany, Western Europe

CNN —Russian authorities on Tuesday launched criminal proceedings against Estonian Prime Minister Kaja Kallas, charges the leader of the Baltic state alleged were politically motivated. The Kremlin accused Kallas, Estonian Secretary of State Taimar Peterkop and Lithuanian Culture Minister Simonas Kairys of destroying or damaging monuments to Soviet monuments in memory of Soviet soldiers, Russia’s state-run Tass news reported. Shortly after Russia’s invasion of Ukraine nearly two years ago, Kallas announced that Estonia would remove all of the country’s Soviet monuments from public spaces. A report by the Estonian Foreign Intelligence Service said Russia may consider doubling the number of troops stationed on its border with the Baltic countries and increasing those on its frontier with Finland, which joined NATO last year. Estonian Foreign Minister Margus Tsahkna also on Tuesday delivered his annual foreign policy speech, which included fiery anti-Russian remarks and a full-throated backing for Ukraine.

Persons: Kaja Kallas, Kallas, Peterkop, Simonas, Dmitry Peskov, ” Kallas, ”, Vladimir Putin, Margus Tsahkna, Joshua Berlinger Organizations: CNN, Estonian, Kremlin, State, Lithuanian Culture, Russia, Soviet Union, European Union, NATO, Estonian Foreign Intelligence Service, Ukraine Locations: Baltic, Estonian, Ukraine, Estonia, Russia, Siberia, Soviet, Finland, “

☆ Can Germany’s sputtering economy be revived in 2024?
▼ + stars: | 2024-02-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

Europe’s biggest economy shrank last year for the first time since the onset of the Covid-19 pandemic. And the outlook isn’t much brighter: the International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, eking out an increase of just 0.5%. “Germany needs a fundamental economic transformation,” Marcel Fratzcher, president of the German Institute for Economic Research in Berlin, told CNN. Carsten Koall/Getty ImagesHomegrown troublesAlongside an external environment that has become more hostile to Germany’s outward-facing economy, the country’s internal political climate has worsened. Businesses such as these, which can find new markets and applications for their know-how, may hold the key to reviving Germany’s moribund economy.

Persons: What’s, ” Marcel Fratzcher, ”, Carsten Brzeski, Jens Schlueter, Constanze Stelzenmuller, Christian Lindner, Olaf Scholz, Robert Habeck, Carsten Koall, Michael Probst, Karl Haeusgen, ” Sebastian Shukla, Chris Stern Organizations: London CNN — Trains, Lufthansa, International Monetary Fund, European Union, European Commission, German Institute for Economic Research, CNN, ING, Brookings Institution, Volkswagen, Biden, Free Democratic Party, Social Democratic Party and, Green Party, Deutsche, LinkedIn, Investors, SAP, chipmaker Infineon, Intel, MAN Energy Solutions, Germany’s Machinery, Equipment Manufacturers Association Locations: Europe’s, Germany, Ukraine, Berlin, Europe, China, Zwickau, United States, Russia, “, Japan, masse, Frankfurt, ”, Hamburg, Jungheinrich, Augsburg, Munich, Esbjerg, Denmark

UNITED NATIONS (AP) — The leaders of Serbia and Kosovo sparred at the United Nations over the latter's ban of the use of the Serbian currency in areas where minority Serbs live, the latest crisis between the two governments. The dinar was widely used in ethnic Serbian-dominated areas, especially in Kosovo's north, to pay pensions and salaries to staff in Serbian parallel institutions, including schools and hospitals. In 1999, a 78-day NATO bombing campaign ended a war between Serbian government forces and ethnic Albanian separatists in Kosovo. Serbian forces were pushed out but Belgrade never recognized Kosovo’s independence and still considers it a Serbian province. The European Union and the United States expressed concern that Kosovo’s ban of the dinar could raise tensions in an already volatile region and called for consultations and a delay in the ban.

Persons: Aleksandar Vucic, ”, Albin Kurti, ” Kurti, Linda Thomas, Greenfield, Dmitry Polyansky, Kurti Organizations: UNITED NATIONS, Kosovo sparred, United Nations, . Security, NATO, Albanian, European Union, Center for Peace Locations: Serbia, Kosovo, Serbian, Kosovo's, Belgrade, Western Europe, United States, Pristina

☆ US Imposes Sanctions for Violations of Russia Oil Price Cap
▼ + stars: | 2024-02-08 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

WASHINGTON (Reuters) - The U.S. Treasury Department said on Thursday it had put sanctions on three entities based in the United Arab Emirates (UAE) and one registered in Liberia for violating a cap placed on the price of Russian oil by a coalition of Western nations. The Treasury also said it had taken steps to bar the import of certain categories of diamonds mined in Russia, another step designed to deprive Moscow of foreign revenues following the 2022 invasion of Ukraine. In a statement, the Treasury Department said it had imposed sanctions on three UAE-based entities - Zeenit Supply and Trading DMCC, Talassa Shipping DMCC and Oil Tankers SCF Mgmt FZCO - as well as on Liberia-registered NS Leader Shipping Incorporated. The price cap imposed by the Group of Seven countries, the European Union and Australia bans the use of Western maritime services such as insurance, flagging and transportation when tankers carry Russian oil priced at or above $60 a barrel. War in Israel and Gaza View All 194 Images(Reporting by Daphne Psaledakis, Ismail Shakil and Arshad Mohammed; editing by David Ljunggren)

Persons: Daphne Psaledakis, Ismail Shakil, Arshad Mohammed, David Ljunggren Organizations: WASHINGTON, U.S . Treasury, United Arab Emirates, Treasury, Treasury Department, Talassa Shipping, Oil, Mgmt, NS, Shipping Incorporated, Group, European Union Locations: UAE, Liberia, Western, Russia, Moscow, Ukraine, Australia, Israel, Gaza

☆ Hungary and E.U. Lock Horns, This Time Over Foreign-Interference Law
▼ + stars: | 2024-02-07 | by ( Matina Stevis-Gridneff | Monika Pronczuk | ) www.nytimes.com time to read: +1 min

Just days after a major showdown between the European Union and Hungary over aid to Ukraine, the European Commission on Wednesday announced it was opening a new disciplinary procedure against the Hungarian government over a recently passed piece of legislation that focuses on activities by foreigners deemed subversive. The move comes on top of several other open disciplinary procedures against Hungary that the European Commission, the E.U. executive branch, has been pursuing against the government of the Hungarian prime minister, Viktor Orban. Mr. Orban has long denounced the battles with Brussels, which he says pits a “woke globalist Goliath” against Hungary’s “David.” He has maintained that the European Union is out to punish him for pursuing a Christian conservative agenda, which he says is in line with the wishes of the Hungarian people. The action by the commission centers on recently passed legislation in Hungary that seeks to punish interactions between Hungarian individuals or organizations, and foreigners or foreign groups that a newly created Office for the Defense of Sovereignty deems subversive.

Persons: Viktor Orban, Mr, Orban, globalist Goliath, Hungary’s “ David, ” Organizations: European Union, European Commission, Wednesday, European, Defense, Sovereignty Locations: Hungary, Ukraine, Hungarian, Brussels

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