DIRS.INFO The most relevant business & tech news

☆ Far right surges in European Parliament elections but center still holds
▼ + stars: | 2024-06-09 | by ( Christian Edwards | ) edition.cnn.com time to read: +4 min

CNN —Far-right parties are predicted to win a record number of seats in the European Parliament, a result that, if confirmed, would deliver a stinging rebuke to Brussels’ political mainstream and add uncertainty to Europe’s future direction. Most of the far-right gains were concentrated in countries that elect large numbers of seats: France, Italy and Germany. Alternative for Germany (AfD) party co-leaders Alice Weidel and Tino Chrupalla cheer the exit poll in Berlin, Germany, June 9, 2024. Annegret Hilse/ReutersWhile the far-right surge may further complicate Brussels’ bid for unity, the far-right parties themselves remain relatively divided. Several other far-right parties are among the non-aligned (NI) group, predicted to secure 45 seats.

Persons: Ursula von der Leyen, –, ”, Europe’s centrists, Le, Emmanuel Macron, Jordan Bardella, ” Macron, Brigitte Macron, Stephane Lemouton, Olaf Scholz, Scholz, shored, ” von der Leyen, Alice Weidel, Tino Chrupalla, Annegret Hilse, Maximilian Krah, Roberta Metsola Organizations: CNN, European People’s Party, EPP, Macron’s Renaissance Party, Socialists, Social Democrats, Christian Democrats Party, CDU, EU, Forces, Reuters, Nazi, SS, Brussels Locations: Brussels, France, Italy, Germany, France’s, Europe, Britain, Russia, Ukraine, Kyiv, Berlin

☆ Europe’s center ground is shifting further to the right
▼ + stars: | 2024-06-09 | by ( Luke Mcgee | ) edition.cnn.com time to read: +6 min

And while the far right is on course to make large gains, the center parties remain ahead. For those on the center right, domestic political shifts to the hard right could make working with the hard right increasingly attractive at a European level. The deadline for this is months away, which leaves a lot of time for horse-trading, which could see elements of the center right and hard right cooperate. It’s not implausible that the center right could vote with the left on issues like support for Ukraine, but then work with the hard right on immigration and climate policy. That was the result of years of domestic politics shifting in the UK, the center right shifting to fend off the hard right, ultimately leading to that rupture.

Persons: –, it’s, It’s, Emmanuel Macron, Pen, Macron, Brothers, Benito Mussolini, Ursula von der Leyen, she’s Organizations: CNN, European Union, EU, European People’s Party, Socialists, Democrats, Europe Greens, Conservative Reformers, European Locations: Europe, Ukraine, Brussels, Netherlands, France, Italy, EU

☆ European voters head to the polls on final day of EU election
▼ + stars: | 2024-06-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

This photograph shows European countries' flags waving in front of the European Parliament building in Strasbourg, eastern France, on June 6, 2024. Over 400 million people are eligible to vote for the 720 members of the European Parliament (MEPs). Voter turnout was just above 50% in the last EU election of 2019, according to official data. This includes Dutch nationalist Geert Wilders' anti-immigration party, which recorded significant gains in Thursday's Netherland's EU election, according to the latest exit polls. The European Parliament

Persons: SEBASTIEN BOZON, Sebastien Bozon, Geert Wilders, Wilders Organizations: Getty, Afp, Union, EU, Parliament, Thursday's Netherland's EU, Labour, Green, Party for Freedom Locations: Strasbourg, France, AFP, Austria, Belgium, Germany, Malta, Greece, Europe, Thursday's Netherland's, Netherlands, Czech Republic, Latvia, Slovakia, Ireland

☆ Far right makes big gains in EU elections as center right holds majority, early data indicates
▼ + stars: | 2024-06-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Populist, far-right parties have won record support in this year's European Parliament elections, early exit polls indicated Sunday. The center-right European People's Party (EPP) is once again projected to win the most parliamentary seats, with a marginally bigger majority than before. The projection is based on exit polls, national estimates and pre-election polling data, and follows a four-day, EU-wide vote. The European Parliament, which is responsible for deciding EU laws and budgets, is the only directed elected institution within the bloc. It is made up of Members of European Parliament (MEPs), who are elected by each member state and come together to form European party groups.

Organizations: Populist, European Conservatives, European People's Party, EPP, Europe, Greens, European Free Alliance, EU

☆ America's Economic Plan Will Hurt World Economy, Global Stock Markets
▼ + stars: | 2024-06-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

The European Central Bank began easing interest rates on Thursday, cutting its benchmark rate by 0.25%. Investors and economists expect the Federal Reserve to follow suit and cut interest rates in September. This combination means there's a good chance that the September cut Wall Street is praying for may never materialize. The US already has somewhat higher interest rates than other countries — the Fed's benchmark rate is 5.25%- 5.50%. And in Asian economies, where interest rates are already significantly lower than in the US, things could get even messier.

Persons: Tamara, Vasiljev, Peter Schaffrik, Nigel Green, Green, we're Organizations: European Central Bank, Investors, Federal Reserve, Oxford Economics, JPMorgan, UBS, Bloomberg, of International Finance, Markets, RBC Capital Markets, deVere, Fed, We're, ECB, Bank of, EU, Bank of Canada, Bank of Canada's, Bank of England Locations: stagflation, China, Europe, Japan, South Korea, It's, America, United States, EU, Bank of England, Canada, East Asia

☆ Far-right, nationalist parties gain strong support in European Parliament election
▼ + stars: | 2024-06-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewEarly results for the European Union's parliamentary elections reveal a surge in support for far-right and nationalist parties, according to multiple reports. AdvertisementAP noted that since the 2019 European Parliament elections, far-right politicians have led in Hungary, Italy, and Slovakia and are part of ruling coalitions in Sweden, Finland, and the Netherlands. The parties have gained support in large part due to anti-immigration and anti-LGBTQ+ sentiment, as well as policies focused on nationalism and identity, The Times reported. Representatives for the European Parliament did not immediately respond to a request for comment from Business Insider.

Persons: —, Emmanuel Macron, Marine, Pen, Macron's, Macron, Olaf Scholz Organizations: Service, European, EU, The New York Times, Business, Sunday, France's National Assembly, National, Street, Associated Press, Germany's Social Democratic, Times, European Union Locations: France, Germany, France's, Italy, Belgium, Austria, Hungary, Slovakia, Sweden, Finland, Netherlands, Ukraine, Russia

☆ The right-wing surge in EU Parliament could have implications for Europe and beyond
▼ + stars: | 2024-06-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +5 min

Right-wing parties across Europe have seen a surge in support over recent years and are set for record gains in the 2024 European Parliament elections. Meanwhile, an emboldened ID party could apply pressure on Parliament to alter its stance on other contentious issues. Here's a look at how these shifts could impact EU policy. "The incoming Commission and Parliament are likely to continue the trend towards greater protectionism and intervention in strategic industries, although the EU will remain an open, trade-dependent economy," they wrote. EU enlargementElsewhere, enlargement of the EU could face further setbacks with a larger euroskeptic presence in Parliament.

Persons: Sean Gallup, Armida van Rij, Chatham House thinktank, Verisk, Mario Bikarski, Laurent Balt, van Rij, Dorien Rookmaker, Balt Organizations: Getty, Populist, Sunday, Greens, European Free Alliance, European People's Party, EPP, European Conservatives, Eurasia Group, Chatham House, CNBC, Immigration, Citi, ECR, EU Locations: Europe, Ukraine, Russia, China, U.S

☆ Germany outlines wartime plans: Mandatory conscription and subway stations as bunkers
▼ + stars: | 2024-06-09 | by ( Sophie Tanno | ) edition.cnn.com time to read: +5 min

CNN —Conscription, rationing, and subway stations turned into bunkers. For the first time since the Cold War, Germany has updated its plans should conflict erupt in Europe, with ministers citing the threat posed by Russia. It also outlines civil protection measures including transforming underground stations into makeshift bunkers and preparing hospitals for an influx of patients. Unveiling the plans, German Interior Minister Nancy Faeser said it was necessary for her country to arm itself better in the face of Russian aggression. ‘Ready for war by 2029’Germany’s updated wartime plans come as Russian President Vladimir Putin presents an ongoing security threat to Europe.

Persons: Nancy Faeser, ”, “, Vladimir Putin, Pistorius, Der Spiegel, ” Pistorius, Putin, Ben Wallace Organizations: CNN, Overall Defense, German, NATO, Deutsche Welle, UK, Wednesday Locations: Germany, Europe, Russia, Ukraine, –, Baltic, Britain, Moscow

☆ France's Macron calls for snap election after losing big to the far right in EU vote
▼ + stars: | 2024-06-09 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

French President Emmanuel Macron on Sunday said he would dissolve the country's parliament and call for a new legislative nationwide vote after suffering a heavy defeat at EU elections. After requesting that Macron call an election, Le Pen welcomed the news, saying on X: "We are ready for it." It's a risky move by Macron, who could be left with no control over France's domestic issues if RN wins a parliamentary majority. The first round of the parliamentary election will take place on June 30, with the second round on July 7, Macron said. The center-right European People's Party (EPP) is once again projected to win the most parliamentary seats, however, with slightly more seats than before.

Persons: Emmanuel Macron, Macron, Le Pen, isn't, — CNBC's Charlotte Reed Organizations: EU, France TV, Macron's, CNBC, European People's Party, EPP Locations: Elysee, Paris, France

☆ Biden and Macron talk Middle East and Ukraine in French state visit
▼ + stars: | 2024-06-08 | by ( ) www.cnbc.com time to read: +4 min

French President Emmanuel Macron and U.S. President Joe Biden stand together onstage during an official State Arrival Ceremony for President Macron on the South Lawn of the White House in Washington, U.S., December 1, 2022. Fresh from commemorating the 80th anniversary of D-Day, French President Emmanuel Macron welcomed U.S. President Joe Biden in Paris on Saturday for a state visit that included talks about the Middle East, Ukraine and trade. Biden hosted Macron for a state visit at the White House in 2022. A U.S. Treasury official said on Tuesday the United States and its G7 partners were making progress on that. Despite his criticism of the IRA during his state visit to Washington in 2022, Macron and European allies have since won few concessions from Washington.

Persons: Emmanuel Macron, Joe Biden, Macron, Biden, Biden's, Republican Donald Trump, Vladimir Putin, Putin, We're, Volodymyr Zelenskiy, Zelenskiy Organizations: White, U.S, Hamas, Republican, Elysee, Biden, Australia, White House, Kyiv, U.S . Treasury, Ukraine, U.S . Congress Locations: Washington , U.S, Paris, East, Ukraine, Gaza, Israel, Lebanon, Iran, Russian, U.S, United States, France, Europe, Washington, Macron, America

☆ Video: See how Europe’s far-right are campaigning ahead of EU elections
▼ + stars: | 2024-06-07 | by ( Clare Sebastian | ) edition.cnn.com time to read: 1 min

How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues

Stock price information reflected on a window at the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023. LONDON — European stocks closed lower on Friday, as investors digested fresh U.S. jobs data and the European Central Bank's latest interest rate commentary. All major bourses and almost all sectors traded in the red, with utilities down 1% as health-care stocks added 0.5%. U.S. stocks were mixed following the release, with the S&P 500 hitting a fresh record high as the Nasdaq Composite dipped. Closely behind was Geert Wilders' anti-immigration party, which looks set to have won seven seats.

Persons: Dow Jones, Geert Wilders Organizations: LONDON, Central, Nasdaq, Labour Locations: Paris, France, U.S, Europe, Netherlands

☆ Dutch nationalist Wilders makes big gains at EU election, exit poll shows
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: +1 min

Geert Wilders, leader of the Freedom Party, campaigns ahead of the European elections, in The Hague, Netherlands, on Wednesday, June 5, 2024. Dutch nationalist Geert Wilders' anti-immigration party on Thursday was projected to have made large gains in the Netherlands' election for the European Parliament, an exit poll published by broadcaster NOS showed. Wilders' PVV party, which won the national election last year but secured no seat at the previous EU election, was predicted to have won seven seats, one less than the Labour/Green Left combination. Voting in the Netherlands kicked off four days of elections for the EU parliament across the 27 EU member states. The actual result of the Dutch election will be announced after voting has closed in all 27 member states, on Sunday at 2100 GMT.

Persons: Geert Wilders, Wilders Organizations: Freedom Party, Parliament, NOS, Labour Locations: The Hague, Netherlands

☆ Biden’s D-Day visit may mark the end of an American era
▼ + stars: | 2024-06-06 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Geopolitical empires like Russia and China are, meanwhile, resurgent and threatening to obliterate the global system dominated by Western values that has prevailed since World War II. Trump’s “America First” philosophy has taken deep root in the Republican Party that once prided itself on winning the Cold War. For many years after World War II, D-Day commemorations lacked the fanfare and high diplomatic and political significance they carry today. The speech came at a particularly contentious moment in the Cold War with tensions high between Washington and the Soviet Union. The strength of America’s allies is vital to the United States, and the American security guarantee is essential to the continued freedom of Europe’s democracies.

Persons: Joe Biden, Adolf Hitler’s, Donald Trump’s, he’d, Biden, Vladimir Putin, Washington, autocrats . Biden, they’d, ’, ”, George H.W, George H.W . Bush, Trump’s, Trump, Charles Kupchan, “ It’s, Franklin Roosevelt, Dwight Eisenhower, Volodymyr Zelensky, Hitler, Putin, Britain’s, Charles III, Queen Elizabeth II, Emmanuel Macron, Ronald Reagan, Reagan, ” Reagan, Mikhail Gorbachev, “, “ We’ve Organizations: CNN, NATO, Republican Party, GOP, District of Columbia, Council, Foreign Relations, Ukrainian, Soviet, US Army Rangers, Rangers, Soviet Communist Party Locations: Normandy, France, Ukraine, Russia, China, Germany, Japan, United States, Europe, British, Omaha Beach, “, George H.W ., Iraq, Afghanistan, Paris, Pointe, Omaha and Utah, Pointe du Hoc, Washington, Soviet Union, America

☆ Parties 'skeptical' toward the EU are the most likely winners, professor says
▼ + stars: | 2024-06-06 | 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 EmailParties 'skeptical' toward the EU are the most likely winners, professor saysStefan Auer, an associate professor at the University of Hong Kong, discusses the elections that are set to take place across the EU from June 6 to June 9.

Persons: Stefan Auer Organizations: University of Hong Locations: University of Hong Kong

☆ European elections 2024: What’s at stake in the world’s biggest multi-country vote
▼ + stars: | 2024-06-06 | by ( Luke Mcgee | ) edition.cnn.com time to read: +11 min

CNN —One of the world’s largest democratic exercises gets underway this week, with some 373 million people across the European Union eligible to vote in elections for the next European Parliament. Pedestrians walk past a banner displayed on the building of the European Parliament in Brussels on May 17, 2024. The European Parliament sits primarily in Brussels, Belgium, but moves roughly once a month to Strasbourg, France. National elections are set to take place in France in 2027, in which right-wing populist Le Pen could emerge victorious. There are EPP members (and certainly ECR members) who will agree with ID members on matters such as immigration and climate change.

Persons: Kenzo Tribouillard, Germany’s Ursula von der Leyen, Ursula von der Leyen, Giorgia Meloni, Yara Nardi, Pen, Emmanuel Macron’s, What’s, Simona Granati, der Leyen, Von der Leyen, it’s Organizations: CNN, European Union, Voters, EU, Getty, European Commission, European Council, Italian, European, European People’s Party, EPP, Progressive Alliance of Socialists, European Conservatives, ECR, Corbis, Von Locations: Ukraine, Gaza, EU, Brussels, AFP, European, Belgium, Strasbourg, France, Lampedusa, China, Europe, Italian, Rome, Italy, Germany

☆ UK's populist right-wing party surges in popularity on Brexiteer Nigel Farage's return
▼ + stars: | 2024-06-06 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Reform UK party leader Nigel Farage walks to speak to supporters as he launches his election candidacy at Clacton Pier on June 4, 2024 in Clacton-on-Sea, England. Labour is expected to win 40% of votes to the Conservatives' 19% and Reform's 17%, the online polling showed. Farage's surprise return as Reform leader on Monday dealt a deadly blow to the party, threatening to steal a significant share of votes on the right. In the 2019 election, his then-Brexit Party agreed not to field candidates in hundreds of seats to safeguard a Conservative win. The announcement hurts Sunak's earlier efforts to win right-wing votes by hardening the Tories' stance on migration and the U.K.'s membership of the European Convention on Human Rights.

Persons: Nigel Farage, Rishi Sunak's, Farage, — Organizations: Clacton Pier, Reform, Sky News, Labour, Conservatives, Conservative, Brexit, Tories, Brexit Party, European, Human Rights Locations: Clacton, England, London

☆ EU elections kick off against a backdrop of China disputes, 'greenlash' and possible Trump return
▼ + stars: | 2024-06-06 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

Laurie Dieffembacq | Afp | Getty ImagesThe political makeup of the European Union is about to change with voters across the 27 member states heading to the polls from Thursday until Sunday. Trump has previously remarked that he would not protect NATO countries from Russian attacks if they lag on their membership payments. Green pledgesIn the wake of the 2019 EU elections, the bloc claimed it was the global champion on a climate-friendly agenda. "This could include more support for nuclear power or even support fracking for cheaper and more reliable gas," they added. "An even larger Eurosceptic representation is also likely to weigh against bold reforms which could make enlargement difficult," the analysts said.

Persons: Hadja, Laurie Dieffembacq, Joe Biden, Donald Trump, Biden, Trump, Green, Giorgia, There's Organizations: Belgian, Afp, Getty, European, CNBC, U.S . European Union, U.S, EU, NATO, European Commission, Citi, Bloomberg, European Union Locations: European Union, Europe, U.S, Ukraine, China, Brussels, Beijing, Italy, Rome, Kyiv

☆ Goldman-backed Starling says no plans to pursue EU bank license, expansion to come from software
▼ + stars: | 2024-06-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

The company sought to expand abroad by applying for an Irish banking license, which would have given the bank access to the European Union market. AMSTERDAM — Digital bank Starling will not re-apply for a European Union banking license and instead pursue international expansion through its software business, the incoming CEO said, in a diverging approach to overseas growth from some of its rivals. Raman Bhatia outlined the company's international expansion plans on Wednesday, in his first public remarks since his appointment as CEO in March, taking over from founder Anne Boden. Bhatia said that the company has no plans to re-apply for the EU banking license to push into new countries. Instead, international expansion will be driven by Engine, a software platform that Starling sells to other companies, so they can set up their own digital banks.

Persons: Raman Bhatia, Starling, Bhatia, Goldman Sachs, Anne Boden Organizations: OVO Energy Ltd, European Union, AMSTERDAM —, CNBC, Salt Bank, AMP Locations: AMSTERDAM, Thailand, Salt, Romania, Australia

☆ McDonald's just lost its chicken Big Mac trademark following a European court ruling
▼ + stars: | 2024-06-05 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

McDonald's lost its chicken Big Mac trademark rights in the EU on Wednesday. The trading bloc's General Court ruled in favor of Supermac's, an Irish fast-food chain. AdvertisementMcDonald's will no longer have the right to call its chicken burgers Big Macs in the European Union following a landmark ruling by one of the trading bloc's top courts. On Wednesday, the Luxembourg-based General Court ruled against the fast-food giant and in favor of Supermac's, an Irish takeaway chain. The case centered on a 2017 application that Supermac's made to the European Intellectual Property Office (EUIPO) to remove its American rival's "Big Mac" trademark.

Persons: McDonald's, — Organizations: EU, Service, Union, Intellectual Property, Business Locations: Irish, Luxembourg

Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.

Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA

☆ EU elections: How Russian trolls are meddling in the world’s second-biggest democratic vote
▼ + stars: | 2024-06-04 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +11 min

There is a focus on fake stories to influence attitudes on subjects like the wars in Ukraine and Gaza. But for the past year, the climate crisis has been the second-most targeted subject, according to the European Digital Media Observatory (EDMO). Official statistics, however, tell a different story: In 2022, renewables accounted for 23% of the energy consumed in the EU. The EU is considered a global leader in tackling planet-heating pollution, but climate disinformation could undermine the bloc’s ambitious goal to reduce carbon emissions by 90% by 2040, compared with 1990 levels. Its community standards policy in the past had only targeted video, but in April, it was expanded to include audio.

Persons: Morgan Wright, “, streetlights, Paula Gori, ”, Gori, EU DisinfoLab, Wright, Gaizka Iroz, they’ve, “ They’ve, ” Gori, Pallavi Sethi, ’, —, Facebook —, ” Wright Organizations: CNN, European Union, EU, Guardian, Bild, European Digital Media, Facebook, Getty, West, Grantham Research, London School of Economics, stoke, Services, European, Meta Locations: European, Russia, United States, United Kingdom, American, Europe, Germany, Ukraine, Gaza, EU, Spain, France, Biriatou, AFP, Africa, Asia, industrializing, Gori, Italy, Croatia, Poland, England, Grantham, Prague, Russian, Slovakia, Moscow

☆ Trump ally Nigel Farage's return could be an 'extinction event' for the Conservatives ahead of UK election
▼ + stars: | 2024-06-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Honorary President of the Britain's right-wing populist party Reform UK and newly appointed leader Nigel Farage speaks during a campaign meeting, on June 3, 2024, ahead of the UK general election of July 4. Nigel Farage on June 3, 2024 said he would stand as a candidate for the anti-immigration Reform UK party at the UK general election next month, after initially ruling out running. LONDON — The shock return of Brexit figurehead Nigel Farage to the political fray could be the final nail in the coffin for Prime Minister Rishi Sunak's ruling Conservative Party ahead of its almost certain defeat in the upcoming U.K. elections. But, critically, it threatens to deprive key votes from the Conservatives, who are already trailing opposition Labour in the polls by a dramatic margin. "Even if Reform don't win seats, they'll drain key votes away from the Conservatives," Olivia O'Sullivan, director of Chatham House's U.K. in the World programme, told CNBC over the phone.

Persons: Nigel Farage, Rishi Sunak's, Farage, Donald Trump, —, Olivia O'Sullivan, Tony Blair's, Keir Starmer, Tony Travers Organizations: Reform UK, UK, Conservative Party, U.S, Reform, Brexit Party, Conservatives, Labour, Chatham House's, CNBC, London School of Economics, Party Locations: Clacton, England

☆ Global powers are helping Ukraine by giving it money frozen from Russia. That spells bad news for companies still doing business there.
▼ + stars: | 2024-06-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Western firms in Russia risk losing their assets if the US touches Russia's frozen reserves, a think tank expert wrote. Instead, Moscow could target foreign holdings that remain in Russia, making Western companies vulnerable to costly expropriation risk. That's on top of previous measures Russia introduced in retaliation to Western sanctions, such as the freezing of bank accounts owned by "unfriendly" non-residents. Taking the Kremlin at its word, $290 billion worth of Western assets are liable for seizure. "Earlier this month, Russia seized more than €700m ($757m) from three Western banks after a construction project fell apart as a result of Western sanctions.

Persons: Elisabeth Braw, —, Braw, That's, David O'Sullivan Organizations: Service, Atlantic, Center for, West, Reuters, Carlsberg, Danone, European, RBC Ukraine Locations: Russia, West, Moscow, Russian, Ukraine

☆ Chinese companies are setting up shop anywhere but China — and the US
▼ + stars: | 2024-06-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

Chinese companies like social media giant TikTok and IT giant Lenovo are already globally competitive behemoths with compelling products. Admittedly, it's not a new move for Chinese companies to invest outside of China. Related storiesThis means Chinese companies will set up facilities overseas under their own brand or subsidiaries. In 2022, the German government blocked Chinese companies from taking stakes in two German chip companies, citing national security concerns and concerns over technology transfer. But even in today's complex geopolitical environment, Chinese companies are expected to continue venturing away from home, per EY.

Persons: —, Chris Pereira, it's, It's, Pereira, Loletta Chow Organizations: Service, Lenovo, Chery, Business, Intelligence, EV, US, EY, EY China Overseas Investment Network, & $ Locations: China, New York, Asia, New York City, Swiss, Southeast Asia, Europe, Africa, America, Qatar, Spain, Norway, EY China

Search resuls for: "Eu"

25 mentions found