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From left to right: Johan Pihl, Doconomy's chief creative officer and co-founder, and Mathias Wikstrom, chief executive officer and co-founder. DoconomySwedish climate-focused financial technology startup Doconomy told CNBC on Thursday that it's raised 34 million euros ($36.9 million) from leading European banks, including UBS and Commerzbank . Credit ratings agency S&P Global came on board as a new investor, while existing shareholders Motive Ventures, PostFinance and Tenity also participated. watch nowDoconomy plans to use the fresh cash to drive expansion into North America and roll out new products, CEO and co-founder Mathias Wikstrom told CNBC in an interview. Mathias Wikstrom CEO, Doconomy
Persons: Johan Pihl, Mathias Wikstrom, it's, Tenity, Wikstrom, Jordan Peterson, It's, Doconomy Organizations: CNBC, UBS, Commerzbank, UBS Next, P Global, Motive Ventures, PostFinance, Boston Consulting Group, Mastercard, United Nations, Dreams Technology, Citi Ventures, Ikea Locations: Sweden, North America
The loosening of the restrictions marks a break from long-standing policy and comes amid growing international pressure from close US allies. But it is limited to the area around Kharkiv, and Ukraine has not requested permission beyond that, the official said, adding that they do not anticipate the US widening the area allowed. Russian forces, ammunitions depots and logistical hubs can now be targeted with US-provided artillery and rockets across the border from Kharkiv in western Russia. But the prohibition has blocked Ukraine from targeting Russian aircraft that are on the ground inside Russia. “Ukrainian soil is being attacked from bases in Russia,” Macron said during a visit to Schloss Meseberg in Brandenburg, Germany.
Persons: Joe Biden, , Antony Blinken, ” Blinken, Olaf Scholz, Emmanuel Macron, ” Macron, Germany’s Scholz, Macron’s Organizations: CNN, Politico, Kyiv, US Locations: Ukraine, Kharkiv, Russia, Russian, Washington, Moldova, , Meseberg, Brandenburg, Germany, United States
Read previewThe US has accused China of covertly supporting Russia's invasion of Ukraine, and suggested that further US and NATO sanctions would be leveled against it. "What we've seen from China to Russia is not a one-off or a couple of rogue firms involved in supporting Russia," Campbell said, according to Reuters. "This is a sustained, comprehensive effort that is backed up by the leadership in China that is designed to give Russia every support behind the scenes." While many Western countries have put sanctions on Russia, China has remained a close economic ally, which has helped Russia finance its war. AdvertisementWhile Ukraine has support from many allies, including the US, UK, and Germany, their support has come in waves that have been disrupted by politics.
Persons: , Kurt Campbell, Campbell, he'd, Joe Biden, Xi Jinping Organizations: Service, NATO, Business, Reuters, North Atlantic Council, US Locations: China, Ukraine, Belgium, Russia, Europe, Beijing, Iran, North Korea, Germany
Homeless people in Edinburgh are being relocated to make room for Taylor Swift fans. The surge in visitors for Swift's shows has caused a significant increase in hotel demand. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA number of homeless people have been sent out of Edinburgh to make room for tourists visiting the Scottish capital for Taylor Swift's upcoming shows, according to BBC News. According to Edinburgh Live, some 210,000 Swifties are expected to attend the Edinburgh shows, which could bring more than $125 million to the Scottish economy.
Persons: Taylor Swift, , Taylor Swift's, Swift Organizations: Service, Scottish, BBC News, Murrayfield, Edinburgh, Business Locations: Edinburgh, Aberdeen, Glasgow, England, Scottish
Finland's F/A-18 Hornets — which used to be the US Navy's standard fighter — are already compatible with NATO air forces. This puts several squadrons of stealth fighters on Russia's northern border, with the potential to penetrate and suppress Russian air defenses, and hit vital targets. "Both Finland's and Sweden's proximity allows NATO air forces to stage closer to the Baltics. Similarly, Sweden's Gotland island — located almost midway in the Baltic, about 60 miles from the Swedish mainland and 80 miles from the Baltic States — provides NATO with an advanced outpost. Their air forces are vital for this Nordic push, and will become very useful to further deter and defend the increasingly contested arctic space with Russia."
Persons: Paul Cormarie, John Hoehn, Sweden's JAS, Finland's, Ian Valley, Hoehn, Cormarie, Michael Peck Organizations: Service, NATO, RAND, Corp, Modern, Institute, Business, Nordic, Gripen, UK's Royal Air Force, Finnish Air Force, US Army, , Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, Finland, Sweden, West, Russia, Finnish, Swedish, France, Germany, Warsaw, Poland, Europe, Rovaniemi, US Army Sweden, Baltic States, Baltic, Norway, Norwegian, North, Estonia, Latvia, Lithuania, Gotland, , Pacific, United States, Taiwan, China, Forbes
The moment the Parliament of Georgia put its final seal of approval Tuesday night on a contentious law aimed at keeping closer tabs on organizations funded from abroad, protesters surrounding the building erupted with screams, boos, and whistles. Many were stunned, and some were in tears, fearing that the law could change the trajectory of their country for years to come, aligning it more with Russia than with the European Union they want to join. “It is a new chapter in our life,” said Tamar Kintsurashvili, 54, who runs a nongovernmental organization that aids media organizations in Georgia, referring to what protesters have called the “Russian law,” saying it resembles one the Kremlin adopted to rein in its critics. “We know Russian experience. We know how they are operating.”For weeks, the square and streets around the imposing Parliament building in Tbilisi have seethed with nightly protests, as thousands of mainly young residents of the capital who see Georgia’s future as aligned with the West — and the democratic freedoms they associate with that — decry what they see as the country’s slide into Russia’s orbit.
Persons: , Tamar Kintsurashvili, Organizations: European Union, Kremlin, West Locations: Georgia, Russia, Tbilisi
European stock markets are heading for a lower open on Wednesday following the worst session for a month. The benchmark Stoxx 600 dropped 0.6% on Tuesday, its steepest loss since April 30, as investors focus on the interest rate outlook and monitor rising global bond yields. European marketsA solid crop of first-quarter and full-year earnings has put the Stoxx on course for a monthly gain. "Earnings season was generally better than feared," Marcus Morris-Eyton, portfolio manager for Europe and global growth at AllianceBernstein, told CNBC's "Squawk Box Europe" on Tuesday. "51% of companies beat expectations, but actually two thirds of companies beat or met expectations, and when you dig beneath the surface what is particularly interesting is the margin strength across European companies during the quarter," Morris-Eyton said.
Persons: Marcus Morris, CNBC's, Morris, Eyton Locations: Europe, AllianceBernstein
U.S. officials said on Tuesday that the Israeli strike that killed dozens of Palestinians in southern Gaza was a tragedy but that it did not violate President Biden’s red line for withholding weapons shipments to Israel. The United States is by far the biggest supplier of weapons to Israel, which raises questions about American responsibility as the death toll mounts. She did not answer a follow-up question about whether the strike crossed a red line for Mr. Biden. A State Department spokesman, Matthew Miller, said the United States was watching Israel’s investigation of the incident closely. Israel’s retaliatory offensive has killed more than 36,000 people, many of them women and children, according to health officials in Gaza.
Persons: John F, Kirby, , they’re, Biden, Israel, ” Mr, , Mr, Kamala Harris, Benjamin Netanyahu, Matthew Miller, Miller, , Daniel Hagari, Khan Younis, Khaled Elgindy, Elgindy, ” Erica L, Green, Michael Crowley Organizations: Mr, European Union, United, CNN, United Nations, State Department, Middle East Institute Locations: Rafah, Gaza, Israel, United States, United Nations, Egypt, China, , Hamas, Washington, New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAhead of Israel's assault on Rafah, President Joe Biden issued several stark warnings to Israeli Prime Minister Benjamin Netanyahu. A $1 billion arms dealThe statement suggests Biden will continue to move forward with a $1 billion weapons package to Israel. As BI previously reported, the weapons deal could be seen as an attempt to heal Biden's relationship with Netanyahu and to halt accusations that the US is emboldening Iran. For instance, Biden previously withheld a shipment of bombs before announcing that the planned weapons deal would go ahead.
Persons: , Joe Biden, Benjamin Netanyahu, Biden, Netanyahu, BRENDAN SMIALOWSKI, Matt Miller, Sen, Chris Van Hollen, Andrew Payne, Payne, Dave Harden Organizations: Service, CNN, Business, MSNBC, Gaza Health Ministry, IDF, Associated Press, State Department, Wall Street Journal, Getty, Washington Post, City University of London, Trump ., US Agency for International Development, West Bank, BBC Locations: Rafah, Israel, Gaza, Tal al, Anadolu, Iran
CNN —Rivers and streams in Alaska are changing color – from a clean, clear blue to a rusty orange – because of the toxic metals released by thawing permafrost, according to a new study. Ken Hill/National Park ServiceArctic soils naturally contain organic carbon, nutrients and metals, such as mercury, within their permafrost, the study says. “It’s really an unexpected consequence of climate change.”Researchers used satellite imagery to determine when the change in color happened at different rivers and streams. In Alaska’s Arctic rivers alone reside a variety of fish that are “critical for subsistence, sport, and commercial fisheries,” researchers wrote. Poulin said local communities voiced their concerns and observations to study researchers beginning seven years ago.
Persons: CNN —, “ We’re, , Brett Poulin, Ken Hill, Poulin, “ It’s Organizations: CNN, National Park Service, University of California, Geological Survey, Communications, Environment, UC Davis, Park Service, Water Resources Research Locations: CNN — Rivers, Alaska, Davis, Alaska’s, California, Appalachia, Alaska's Gates, Alaska’s Gates, Park Service Alaska, Chilean, Spain
Now, Kylian Mbappé, who is widely expected to imminently join Real Madrid, says he’s looking forward to the challenge of playing in a new country. Spada/LaPresse/ShutterstockThe first time Real came calling for Mbappé was when the forward was just 13 years old. In his comic book, “Je m’appelle Kylian (I’m called Kylian),” Mbappé describes his dreams of one day playing in the famed white shirt of Los Blancos. We won the league and went to the semifinal of the Champions [League], but I did nothing important in the world of football. I’m French, I’m from Paris, so it was something special.
Persons: Italy CNN —, Germain, Kylian Mbappé, imminently, ” Mbappé, Amanda Davies, , , “ It’s, it’s, Mbappé, Real, , Frenchman, Matthias Hangst, Zinedine Zidane, Ronaldo Nazário, Luís Figo, David Beckham, Cristiano Ronaldo, Kaká –, Karim Benzema, Vinícius Jr, Jude Bellingham, Will Mbappé, Alain Jocard, I’m, “ I’ve, that’s Organizations: Italy CNN, Paris Saint, Real Madrid, CNN, Globe Soccer, PSG …, French, PSG, Global, France, Real, Borussia Dortmund, Champions League, London’s Wembley, League, Bayern Munich, RC Lens, Getty, Paris, AS Monaco, Ligue, Champions, Locations: Sardinia, Italy, Spada, Paris, Qatar, Real Madrid, Lyon, London’s, France, England, Spain, Germany, Lisbon, AFP, Monaco
CNN —Lexi Thompson will retire from professional golf at the end of the 2024 season, calling time on a decorated career at the age of 29, the American announced on Tuesday. And of course, I look forward to a little time for myself.”Thompson became the youngest to ever compete at the US Women's Open in 2007. “You haven’t always been easy on me, or fair for that matter, but through all the ups and downs, you’ve given me a platform to inspire others and positively impact the world,” Thompson said in her letter. Stephen Dunn/Getty Images‘A whirlwind of constant attention, scrutiny and pressure’Thompson spoke through tears during a press conference at Pennsylvania’s Lancaster Country Club, US Women’s Open host, on Tuesday. 1 and the US Women’s Open tournament favorite Nelly Korda.
Persons: Lexi Thompson, , ” Thompson, , Leo, Streeter Lecka, Thompson, agonizingly, South Korea’s, Stephen Dunn, ’ Thompson, , I’ll, We’re, we’re, that’s, David Cannon, Rose Zhang, Rory McIlroy, Max Homa, Matt Rourke, Nelly Korda, “ She’s, ” Korda, she’s, Corpuz, She’s, Michelle Wie West, Annika Sörenstam, Thompson’s, Suzann, fairways we’ve Organizations: CNN, American, Floridian, Kraft Nabisco, Chevron, , USA, Solheim, Olympic, US, LPGA, Aramco, European, South, Pennsylvania’s Lancaster Country Club, PGA, Shriners, PGA Tour, Locations: Instagram,
Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.
Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London
You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The French group of trade associations fears that Apple's web eraser could represent another example of Big Tech implementing disruptive changes over which media and advertising companies have no control. Apple generates advertising and subscription revenue from its Apple News service, though it makes the majority of its ad revenue from search ads within the Apple App Store. A spokesperson for the NMA said the organization hadn't heard back from Apple since it sent the letter on May 10.
Persons: , Tim Cook, Apple's Cook, Thierry Breton, Apple, NMA, hadn't Organizations: Service, Apple, Business, Safari, Alliance, SRI, Union des Marques, Big Tech, Google, Facebook, Publishers, Apple News, French Competition Authority, Europe's, UK's News Media Association, Daily Mail, Guardian Locations: France, Europe, Germany
London CNN —The owner of Royal Mail has accepted a £3.5 billion ($4.5 billion) takeover bid from Czech billionaire Daniel Křetínský, paving the way for the sale of one of Britain’s oldest and most iconic institutions to a foreign owner for the first time. The deal follows a torrid few years for Royal Mail, which was privatized in 2013. “Royal Mail is as British as it gets, and Labour will take the necessary steps to safeguard its undeniable identity and place in public life,” he wrote in the letter, which he posted on X. A low-profile Czech national, Křetínský made his fortune through a sprawling empire of European energy companies, retailers and football clubs. He is worth an estimated $7.7 billion, according to the Bloomberg Billionaires Index, and owns a 27% stake in West Ham United Football Club.
Persons: Daniel Křetínský, Křetínský’s, Jonathan Reynolds, , Křetínský Organizations: London CNN, Royal Mail, Distribution Services, Labour Party, Conservative, Labour, Royal, Bloomberg, West Ham United Football Club Locations: Czech, United Kingdom, West
Europe may want to reconsider their calls for Ukrainian strikes on Russia, says Vladimir Putin. Putin hinted that Russia could retaliate against their "small and densely populated countries." "This unending escalation can lead to serious consequences," the Russian leader warned. AdvertisementRussian leader Vladimir Putin says European countries should rethink their calls to let Ukraine use Western arms to strike his country. "So, these officials from NATO countries, especially the ones based in Europe, particularly in small European countries, should be fully aware of what is at stake," Putin told reporters on Tuesday.
Persons: Vladimir Putin, Putin, Organizations: Service, NATO, Business Locations: Europe, Russia, Ukraine
Eastern Ukraine CNN —Ukrainian crews working on US-supplied Abrams tanks have told CNN of a series of the weaknesses and flaws with the armored vehicles, calling into doubt their utility on the war’s ever-changing frontlines. Much of the Ukrainian frontline is now dominated by the use of self-destructing attack drones, tiny and accurate devices that can swarm infantry and even cause significant damage to tanks. Mick Krever/CNNAmmunition is also a problem, like elsewhere on the Ukrainian frontline. NATO “would never” use the Abrams tank the way the Ukrainian military has to use it, a Ukrainian soldier who uses the moniker “Joker” said. Mick Krever/CNNThe Ukrainian crew expressed frustration the tanks were made for a NATO style of warfare, in which air power and artillery prepare the battlefield before tanks and infantry advance.
Persons: Abrams, Joe Biden, , Crews, Saddam Hussein’s, Mick Krever, ” Joker, , ’ ”, Oleksandr Syrsky, Victoria Butenko Organizations: Eastern, Eastern Ukraine CNN —, CNN, United, ” CNN, 47th Mechanised Brigade, Pentagon, Abrams, NATO, Locations: Eastern Ukraine, United States, Ukraine, Germany, Iraq, Dnipro, Ukrainian, Avdiivka, Russia, Poland, American, Russian, Red Square, Kyiv, “ Ukraine, Ukraine’s, France
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We can't simply compare a BYD to a BMW,' says Kingston Securities execDickie Wong, executive director at Kingston Securities, says although Chinese electric vehicles are more affordable, European carmarkers can compete in other aspects.
Persons: Dickie Wong Organizations: BMW, Kingston, Kingston Securities
Spain, Ireland and Norway are set to formally recognize a Palestinian state today — a move that will bolster the global Palestinian cause but has further strained relations between Europe and Israel. Nations that don't include staunch allies of Israel such as the United States and Germany. On May 10, a non-binding vote at the UN General Assembly showed overwhelming international support for an independent Palestinian state, leaving the US and a few of Israel’s allies isolated. Israel and the US maintain that a Palestinian state should only be established through a negotiated settlement. It comes after the International Court of Justice ordered Israel to immediately halt its military operation in Rafah.
Persons: Israel Organizations: Palestinian, United Nations, European, UN, Assembly, US, International Court of Justice Locations: Spain, Ireland, Norway, Europe, Israel, United States, Germany, Palestinian, Gaza, Rafah
Golden Goose eyes a public listing in Milan this week, aiming for a $3.3 billion valuation. The luxury sneaker brand is popular with celebrities and starts at about $364 per pair. AdvertisementLuxury sneaker maker Golden Goose plans to go public in Milan as soon as this week. Golden Goose may start working on its initial public offering this week following positive feedback from potential investors, people familiar with the matter told Bloomberg. Investors are expected to value Golden Goose at about 11 times this year's estimated earnings.
Persons: , Taylor Swift, Selena Gomez, Hilary Duff Organizations: Service, Bloomberg, Investors, Business Locations: Milan
Demonstrators protesting the "foreign influence" law crowd outside the parliament building in central Tbilisi on May 28, 2024. Georgian lawmakers on Tuesday voted to override a presidential veto on a Russia-style "foreign agents" law, pushing forward with legislation that has triggered international condemnation and large-scale protests in the South Caucasus nation. Georgian President Salome Zourabichvili vetoed the controversial legislation on May 18, saying on social media platform X that the "fundamentally Russian" law represents "an obstacle to our European path." Zourabichvili, a critic of the ruling Georgian Dream government, has called for a repeal of the law. Georgian Prime Minister Irakli Kobakhidze has said the bill will create "strong guarantees" to help ensure long-lasting peace in the country.
Persons: Salome Zourabichvili, Irakli Kobakhidze Organizations: Union, NATO, United Nations, EU, Kremlin ., Georgian Locations: Tbilisi, Russia, South Caucasus, The U.S, Georgian, Soviet Union
Oil prices steady as investors await inflation data, OPEC+ meeting
  + stars: | 2024-05-28 | by ( ) www.cnbc.com   time to read: +2 min
Oil prices were steady in early Asian trading on Tuesday as investors awaited inflation data to assess future U.S. monetary policy and the production policy decisions from the OPEC+ meeting on June 2. The U.S. personal consumption expenditures index expected this week will be in the spotlight for further signals about interest rate policy. The index, due to be released on May 31, is viewed as the U.S. Federal Reserve's preferred measure of inflation. German inflation data on Wednesday and euro zone readings on Friday will also be watched for signs of a European rate cut that traders have penciled in for next week. All eyes are also be on the upcoming online meeting of the OPEC+ on June 2.
Persons: Brent, Satoru Yoshida, U.S . Federal Reserve's, Goldman Sachs Organizations: . West Texas, Rakuten Securities, Organization of, Petroleum, U.S, U.S . Federal Locations: New Mexico, U.S, Friday's, Britain, United States, OPEC, U.S .
LONDON — The Federal Reserve should wait for significant progress on inflation before cutting interest rates, Minneapolis Federal Reserve President Neel Kashkari told CNBC Tuesday. Asked what conditions were needed for the Fed to cut rates once or twice this year, Kashkari said: "Many more months of positive inflation data, I think, to give me confidence that it's appropriate to dial back." He said the central bank could potentially even hike rates if inflation fails to come down further. He noted that the central bank may consider raising its target rate in the future, but said it was not appropriate to "move the goal posts" at this stage. The Bank of England is also broadly expected to cut rates this summer.
Persons: Neel Kashkari, Kashkari Organizations: Minneapolis Federal, CNBC, Fed, European Central Bank, ECB, Bank of England Locations: U.S
Poland and other European NATO members are warning that Russia could launch an attack. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA NATO country unveiled a new plan for its border intended to defend against attacks coming from Russia. Poland's defense ministry on Monday touted its "east shield," an operation to strengthen its eastern border with Russia and Belarus. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: NATO, Service, Business Locations: Poland, Russia, Belarus, NATO
CNN —Israeli military tanks were seen in central Rafah on Tuesday for the first time since the Israel Defense Forces (IDF) entered Gaza’s southernmost city earlier this month, two eyewitnesses told CNN. Alaa Abu Ibrahim, a Rafah resident, told CNN that Israeli tanks were seen at the Al Awda roundabout in the center of the city. Asked about reports of tanks advancing in the city, IDF spokesman Rear Admiral Daniel Hagari said at a media briefing on Tuesday that the military is operating in Rafah in a “targeted” and “precise” way. The Biden administration has warned against a large-scale ground invasion in Rafah unless the wellbeing of civilians can be guaranteed. “Even when we do find the cause of the fire that erupted it won’t make this situation any less tragic.”Israel’s advance deeper into Rafah comes despite the International Court of Justice (ICJ) ordering it to “immediately halt” its military operation there.
Persons: Alaa Abu Ibrahim, Salma AlKadoomi, Abu Hashem, ” AlKadoomi, Daniel Hagari, Israel, we’ve, ” Hagari, Biden, Joe Biden, Jake Sullivan, Benjamin Netanyahu, Monday, ” Israel, , Organizations: CNN, Israel Defense Forces, US, Hamas, International Court of Justice, UN Locations: Rafah, Gaza’s, Alaa, Tel Aviv, Egypt, Gaza, , Sinai, Egypt’s, Israel
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