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Left-leaning newspaper Liberation described the snap election call as an "extreme gamble," while the center-right Le Figaro ran a brief headline Monday: "Le choc" ("shock"). That happened well before the humiliation of the European election results, in which Macron's Renaissance party got less than half as many votes as the far-right Rassemblement National ... In the meantime, other commentators and newspapers, such as Les Echos, have characterized Macron's move as a game of poker. Macron's supporters defend the president as a self-made and ambitious man who has a direct way of speaking to voters. "First, he has interpreted the vote for the European Parliament as a personal insult, as a rejection of his domestic policy direction.
Persons: Emmanuel Macron, Xi Jinping, Ursula von der Leyen, Gonzalo Fuentes, Emmanuel Macron's, Macron, drubbing, Jordan Bardella, Le Figaro, Alexis Brézet, Fenoglio, Macron's, it's, Robert Ladrech, Chirac Organizations: Reuters, Macron's Renaissance Party, National Assembly, Le Monde, CNBC, Keele University Locations: Paris, France, what's, EU
Raspberry Pi, which makes tiny single-board computers priced its shares at 280 pence apiece. The Raspberry Pi offering comprises 45.9 million ordinary shares sold by the company's existing majority shareholder, Raspberry Pi Mid Co Limited, a wholly owned subsidiary of the Raspberry Pi Foundation. It also includes 2.13 million ordinary shares sold by other shareholders, along with 11.23 million freshly issued shares. If there is more demand, a so-called overallotement option will allow the Raspberry Pi Foundation to issue another 4.6 million shares. In 2023, Raspberry Pi posted revenues of $265.8 million, up 41% year-on-year from 2022.
Persons: Raspberry, Eben Upton, Raspberry Pi Organizations: London bourse, Sony, Sony Semiconductor Solutions, Sony Corporation, Pi, LSE, Retail, Co, Pi Foundation Locations: Europe, U.S, British
Mining firm Rare Earths Norway says it has discovered Europe's largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region. One of the few deposits not owned or controlled by China, the discovery of continental Europe's largest rare earths deposit is considered a welcome boost in Europe's bid to break China's rare earths dominance. Alf Reistad, CEO of Rare Earths Norway, told CNBC that the discovery at Fen represents a "great milestone" for the company. "It is important to state that there is absolutely no extraction of rare earth elements in Europe today," Reistad said via videoconference on Monday. Rare Earths Norway said the rare earths deposit in Telemark, roughly 210 kilometers (130 miles) southwest of Oslo, is likely to underscore Norway's position as an integral part of Europe's rare earth and critical raw material value chain.
Persons: Alf Reistad, Reistad Organizations: Tech Co, Mining, Nordic, Rare, Norway, CNBC Locations: Mongolia, Baotou, Inner Mongolia, China, Norway, Sweden, Europe, videoconference, Telemark, Oslo
European Parliament Elections: Key Takeaways
  + stars: | 2024-06-10 | by ( Matina Stevis-Gridneff | ) www.nytimes.com   time to read: 1 min
Voters in the 27 European Union member states sent a stern warning to mainstream political powers, wreaking havoc on French and, to a lesser degree, German politics and rewarding hard-line nationalist parties in a number of countries. Even so, the radical right-wing wave dreaded by the European political establishment did not fully materialize; the center of European Union politics held. Here are the most important trends emerging from the elections. Conservatives dominateThe mainstream center-right group, the European People’s Party, performed strongly and finished first, not only maintaining its dominance in the European Parliament but adding a few seats to boot. It was a sign that its strategy over the past two years, to integrate more right-leaning policies in order to stop voters from abandoning for further-right rivals, delivered.
Organizations: Union, European People’s Party
France to hold snap elections
  + stars: | 2024-06-10 | 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 EmailFrance to hold snap electionsMichelle Caruso-Cabrera joins 'Mad Money' host Jim Cramer to talk the latest out of European elections and what it means for the markets.
Persons: Michelle Caruso, Cabrera, Jim Cramer Organizations: France
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFrench snap election 'akin to the Brexit vote,' Allianz economist saysLudovic Subran, chief economist at Allianz, says French President Emmanuel Macron has tied his future to the future of Europe after calling a snap election following steep losses for his party at the EU elections.
Persons: Ludovic Subran, Emmanuel Macron Organizations: Allianz Locations: Europe
Amanda Goh/Business Insider"We told them, 'One suitcase each. Amanda Goh/Business InsiderThey knew they wanted to stay near Canggu which is known for its beaches and bustling food scene. Amanda Goh/Business InsiderA cozy, eclectic homeThe couple's six-bedroom home sits in a cul-de-sac, next to a rice field that's been repurposed into a plot to grow cucumbers. The couple has one tip for those who want to build a house in Bali: Don't cut corners. Amanda Goh/Business InsiderKaman added that it might not be wise for anyone without any prior experience to take on such an ambitious project.
Persons: , Gabi Bondor, Zoltan Kaman, It's, we'd, Bondor, Amanda Goh, Bali didn't, Kaman, aren't, it's Organizations: Service, Green School, Business, Kaman Locations: New York City, Bali, Ubud, New York, Indonesian, India, Vietnam, China, Indonesia, Asia, Canggu, Paris
Far-right parties across the continent had strong showings, but their momentum did not cause the center ground of European politics to cave in – as many had predicted. Those gains did materialize; far-right groups were expected to secure a record number of seats in the European Parliament, dealing a major blow to the continent’s establishment leaders. Most of the far-right gains were concentrated in countries that elect large numbers of seats: France, Italy and Germany. Several other far-right parties are among the non-aligned (NI) group, predicted to secure 45 seats. The center holdsDespite a far-right surge, the centrist European People’s Party (EPP) was the biggest single winner on Sunday night.
Persons: , Maximilian Krah, Ursula von der Leyen, , Von der Leyen, ” Von der Leyen, Emmanuel Macron, Marine Le, ” Macron, Marion Maréchal, Jordan Bardella, Alexander De Croo, ” De Croo, Meloni, Tusk, Giorgia Meloni, Brothers, Benito Mussolini, von der Leyen, Donald Tusk’s, Viktor Orbán, Bas Organizations: CNN, Green, Nazi, European People’s Party, EPP, Progressive Alliance of Socialists, Commission, Ukraine, Marine, Assembly, French, Ministry, Italy’s, Italy, Law and Justice, PiS, European, Fidesz, Greens, Bas Eickhout, EFA, European Green Party, European Commission Locations: , France, Europe, Italy, Germany, Brussels, France’s, , Ukraine, Poland
Members of European Parliament attend a plenary session in Brussels on April 10. John Thys/AFP/Getty ImagesThe European Parliament is the legislative branch of the European Union and one of the bloc’s three main institutions, along with the European Commission, which is the executive branch, and the European Council, which is made up of ministers from the governments of the 27 member states. In order for any legislation to be implemented, both the council and parliament have to agree. It often has the final word on major policy issues such as the budget, trade and sanctions on foreign nationals. For example, A comprehensive mutual investment agreement between the EU and China is effectively on hold while some MEPs are under sanctions from China.
Persons: John Thys, Germany’s Ursula von der Leyen Organizations: European, Getty, European Union, European Commission, European Council, EU Locations: Brussels, AFP, Belgium, Strasbourg, France, China
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
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
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
Elections in 27 countries for the European Parliament ended on Sunday, with early projections giving far-right parties a strong showing, a result that, if confirmed, would amount to a powerful gauge of voter dissatisfaction and a stinging rebuke for the political mainstream. The balloting indicated that the prevailing winds had grown decidedly chill for Europe’s political establishment. The results are likely to make it harder for the European Parliament to form majorities to pass laws, and would render negotiations over divisive issues even tougher. More broadly, they underscored that the momentum of the far-right forces that have been expanding their challenge to centrists over the past decade had yet to crest. The results were especially crushing for President Emmanuel Macron of France, who on Saturday night hosted President Biden at a state dinner in Paris.
Persons: bode, Emmanuel Macron, Biden Organizations: of Locations: France, Germany, Paris
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
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
Hotel prices are exploding. As the owner of Destination Europe, she is sending “record numbers” of clients to the continent this year. There’s been such a huge demand for travel in the past three years, and lots of places are pushing up prices.”Is summer in Europe already a washout? Socrates Baltagiannis/picture alliance/Getty ImagesData from Hotel Monitor, American Express Global Business Travel’s annual analysis of worldwide hotel rates, backs his theory up. His prediction appears to be coming true: although the Amex GBT analysis predicted a 11% spike in Paris hotel rates this year, so far they have only risen 8%.
Persons: “ There’s, , Tom Jenkins, ” Kayla Zeigler, Graham Carter, , There’s, you’re, it’s, Eric Gaillard, Reuters It’s, they’re, Eiffel, Hagia Sophia, Jenkins, Tim Hentschel, that’s, It’s, Milos, Hotelplanner's Tim Hentschel, Socrates Baltagiannis, Hentschel, haven’t, Conde Nast, Hayley Berg, Hopper, Berg, Jaime Reina, , ’ ” They’re, Daniela Santanchè, ” Zeigler, Carter, , Charles de Gaulle, ” They’re, Zeigler, ” –, – Berg, bookers, Henry Nicholls Organizations: CNN, European Tourism Organisation, Unforgettable, , Reuters, Getty, Hotel Monitor, American Express Global, , AFP, Italy –, Games Locations: Europe, Bosnia, Bulgaria, Denmark, Iceland, Poland, Romania, Sweden, Switzerland, Czech, Hungarian, Ukrainian, Ukraine, Turkish, Hagia, Venice, Paris, Amsterdam, Dublin, Berlin, Stockholm, Barcelona, London, Murcia, Marbella, Windsor, Paddington, Rome, Athens, Venice’s, Mallorcan, Italy, Amalfi, Positano, Amalfi Coast, Puglia, Sicily, Slovenia, Croatia, Ireland, Portugal, France, airfare, London's, AFP
Insider Today: Why we don't exercise
  + stars: | 2024-06-08 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +6 min
On the agenda:This story is available exclusively to Business Insider subscribers. But they don't want to have to limit their opportunity to see the world due to their sexual orientation. Oxygen/Getty Images, Abanti Chowdhury/BIGentle parenting goes bye-byeWhether you call it gentle parenting, intentional parenting, or mindful parenting, the concept remains widely the same. Father's Day sales : Time's running out to get dad a gift — check out our roundup of the best Father's Day deals for great prices on thoughtful presents. : Time's running out to get dad a gift — check out our roundup of the best Father's Day deals for great prices on thoughtful presents.
Persons: , Rebecca Zisser, Olivia Rodrigo, Luke Combs, Megan Thee, Justin Timberlake, Emily Stewart, Taylor Swift, Derek Abella, Timo Lenzen, it's, Augustine, Abanti Chowdhury, Tyler Le, Glen Powell, Richard Linklater's, Karl Lagerfeld, Daniel Brühl Organizations: Service, Business, Europe, Netflix, Father's Locations: Florida, Europe, St, Augustine , Florida, Spain, The Florida
Paris CNN —President Joe Biden heralded the close ties between the United States and France on Saturday, calling his current visit “the most remarkable trip” that he’s made to the country as French President Emmanuel Macron hosted his US counterpart for an official state visit in Paris. “When we stand as one, our countries are stronger and literally, the world is safer,” Biden said during a state dinner later Saturday. Macron is returning the favor to Biden, who hosted the French president for a state visit at the White House in December 2022, the administration’s first. France, Biden said, “was our first friend. “One of the things the president respects and admires about President Macron is he’s as honest and forthright as President Joe Biden is.
Persons: Joe Biden, he’s, Emmanuel Macron, ” Biden, Macron, Brigitte Macron, Biden, Jill Biden, Banner ”, , Grace, , Macrons, Evan Vucci, Donald Trump, ’ ” Biden, , Volodymyr Zelensky, Vladimir, Putin, Ukraine – it’s, Benjamin Netanyahu, Yahya Sinwar, John Kirby, Kirby, ” Kirby, CNN’s Kayla Tausche, Xiaofei Xu Organizations: Paris CNN, Macron, Champs, AP, French, White House, US, Independence, Ukraine –, Western, Ministry, Israeli, Saturday, Australia, , National Security Locations: United States, France, Paris, , Élysée, Ukraine, Israel, Triomphe, We’re, America, New York City, Europe, Gaza, , Washington
Louis Vuitton: The Olympics embody our ‘DNA’
  + stars: | 2024-06-07 | by ( Issy Ronald | ) edition.cnn.com   time to read: +4 min
And at next month’s upcoming Games, Louis Vuitton are hoping they too will become a hallmark of the same grand occasion. The Olympic and Paralympic medals will be housed in a Louis Vuitton trunk. Annie Leibovitz/Courtesy Louis VuittonLVMH – the luxury conglomerate that owns Louis Vuitton – spent €150 million ($163 million) on its sponsorship deal with the Olympics, Vogue reported citing sources, though calculating the precise returns on this investment is “difficult,” said Beccari. “We are very close to sport,” Beccari said, recalling the slogan “Victory travels in Louis Vuitton,” the fashion house used when one of its trunks housed the FIFA World Cup in 2010. From Louis VuittonWhile Louis Vuitton posted record profits last year and LVMH outperformed other luxury brands, the current economic environment with rising inflation leaving consumers with less disposable income poses challenges ahead, though Beccari downplayed such difficulties.
Persons: Louis Vuitton, Vuitton, , Enzo Lefort, Léon Marchand, Pauline Déroulède, Marie Patouillet —, Stephanie Lecocq, Pietro Beccari, , ” Beccari, , Roger Federer, Rafael Nadal, Louis Vuitton's, Annie Leibovitz, Louis Vuitton –, Louis, CNN “, Federer, Nadal, They’re, LVMH, Beccari Organizations: Paris CNN, Olympic, Paralympic Games, Seven, CNN, de Monaco, Louis, Olympics, Vogue, FIFA Locations: France, Louis, Paris, French, Europe
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn ChengBEIJING — Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an earnings call Thursday, at a time when rivals have been increasing their global footprint. The nearly 10-year-old company will also start shipping its lowest-cost brand, Firefly, in the first half of next year, Li said. The battery and electric car giant said in November it opened a showroom in Dubai Festival City as part of a collaboration with Al-Futtaim Electric Mobility Company. watch nowAs competition in the Chinese electric car market intensifies, Nio launched a lower-priced brand called Onvo in May.
Persons: Nio, Evelyn Cheng, William Li, Li, BYD, Nomura, Nio's Li Organizations: CNBC, United, United Arab Emirates, United Arab, Dubai Festival City, Al, Futtaim Electric Mobility Company, Tesla, BMW Locations: Shanghai, China, Evelyn Cheng BEIJING, Middle East, U.S, United Arab, Europe, United Arab Emirates, Dubai, 2H24
The fury of European farmers is more than just a major issue in elections across the continent this week — it’s also one of the primary subjects of disinformation timed to the vote. In Italy, inaccurate claims circulated on social media that the European Union was banning animal breeding; a rumor making the rounds in Spain claimed that the government was causing droughts by demolishing dams. Those claims are part of an abundance of deceptive content aimed at voters electing a new European Parliament, spread by far-right politicians, information operatives based outside Europe and others, according to disinformation researchers. It is coming in the form of recycled videos and photos presented as current, misinterpretations of policy proposals and inflammatory political ads, addressing topics like agriculture, climate change and migration. Foreign propaganda, even content explicitly prohibited by the European Union, continues to seep into the information ecosystem.
Persons: it’s Organizations: European, European Union Locations: Italy, European Union, Spain, Europe
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNATO is busy setting up land corridors that US soldiers and military vehicles would use in the case of a Russian invasion of Europe, The Telegraph reported, citing unnamed officials. AdvertisementPlans are also being developed to move troops through ports in Sweden, Finland, and the Balkans, the outlet reported. AdvertisementLast year, NATO leaders agreed to keep 300,000 soldiers in a state of high readiness, The Telegraph reported. Last week, the Financial Times reported that NATO had less than 5% of the air defenses needed to protect Central and Eastern Europe, citing people familiar with NATO's defense plans.
Persons: , Vaidotas Urbelis, Donald Tusk, Poland's, Alexander Sollfrank Organizations: Service, NATO, The Telegraph, Business, The, Telegraph, Financial Times, Command Locations: Europe, Netherlands, Greece, Italy, Turkey, Norway, Hungary, Ukraine, Bulgaria, Romania, Sweden, Finland, Balkans, Germany, Poland, Russia, Baltic States, Central, Eastern Europe
Looking for a less risky way to find growth stocks amid all the artificial intelligence hype? Looking ahead, Thornburg expects the Fantastic Five's outperformance to continue, with the forward price-to-earnings ratio of the European group falling below the seven U.S. stocks starting in 2026 and running through 2028. The money manager also projected that the European group will increase earnings 18% a year over the next three years versus 14% for the "Mag 7." ASML, the biggest producer of the equipment used to manufacture semiconductors, makes "leading-edge" lithography equipment needed to produce AI chips, Anderson said. He manages the Thornburg International Growth Fund , a concentrated portfolio of high-quality companies based outside the U.S., which has gained 8.8% year-to-date.
Persons: Nicholas Anderson, Anderson, Thornburg, It's, it's, FactSet, ASML Organizations: Thornburg Investment Management, Novo Nordisk, ASML, LVMH, AstraZeneca, SAP, Nvidia, Big Tech, Microsoft, Apple, GLP, Nordisk, Taiwan Semiconductor, Bloomberg, Growth Fund Locations: U.S, Novo, Europe, Belgium
Election season in Europe rarely sets the pulse racing. But citizens, the people charged with voting in members of Parliament, did not seem to care that much. I’ve seen their interest firsthand. Why is politics in Brussels, which has always been seen as boring and technocratic, suddenly becoming almost sexy? As citizens are drawn more into continental politics, the democratic deficit in Europe is slowly beginning to evaporate.
Organizations: European Union Locations: Europe, Brussels, Netherlands, France, Switzerland, Czech Republic, Ukraine
“These were the images that were easy for the art world to engage with. Akinkugbe hopes the exhibition shows the "sprawling" nature of Black figurative art. Courtesy Opera GalleryWhile public and institutional interest in Black art has been increasing steadily since 2008, attention and engagement is often inextricably linked to the news cycle. “I do think that in the art world, there was a huge reaction to 2020. “I think it could broaden someone’s idea of what Black art is.
Persons: London CNN —, tutu, Edgar Degas, Chicago, Thelonious Stokes, Stokes, Alayo Akinkugbe, , Louis Armstrong, ” Akinkugbe, George Floyd, Derek Chauvin, Akinkugbe, Adjei, Amoako Boafo, Noel Anderson’s, Jazz Grant, ” Noel Anderson, Michael, Leonardo da Vinci, Vermeer, David Hockney, Lucien Freud, Jenny Saville, Francis Bacon’s, Lucian Freud ”, “ I’ve, ’ Stokes, Jesus, , reimaginings, ” Stokes, ArtNews, Morgan Stanley, “ It’s, We’ve, there’s Organizations: London CNN, Opera, CNN, Sound, Black Arts Movement, Harlem Locations: retiré ., London, Chicago, Florence, Minneapolis, Ghana, West Africa, African
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