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Donald Trump's election victory on Wednesday sparked a palpable sense of dismay among the climate community, with two key architects of the landmark Paris Agreement warning that the result will stall global efforts to protect the environment. The 78-year-old, who has called the climate crisis "one of the great scams," has pledged to ramp-up fossil fuel production, pare back outgoing President Joe Biden's emissions-limiting regulations and pull the country out of the Paris climate accord — again. The 2015 Paris Agreement is a critically important framework designed to reduce planet-heating greenhouse gas emissions. Laurence Tubiana, a key architect of the Paris Agreement, said Trump's election victory "is a setback for global climate action, but the Paris Agreement has proven resilient and is stronger than any single country's policies." Tubiana, a French economist and diplomat who now serves as CEO of the European Climate Foundation, said the context today is "very different" to Trump's first election victory in 2016.
Persons: Donald Trump, Hurricane Helene, Donald Trump's, Kamala Harris, pare, Joe Biden's, Laurence Tubiana, Trump's Organizations: Democratic, White, NBC, European Climate Foundation Locations: Hurricane, Valdosta , Georgia, Paris, French
Several U.S.-listed funds tracking global stocks pulled back in Wednesday's session as investors considered Donald Trump's victory harmful to international equities. "While the investing landscape remains favorable in the U.S., international markets are very exposed to tariff policy, " said Yung-Yu Ma, chief investment officer at BMO Wealth Management. These moves reflect the divergence between U.S. and international markets as investors around the globe take in America's election results. Still, the U.S.-listed iShares MSCI China ETF (MCHI) shed more than 2% on Wednesday. Indeed, the iShares MSCI Emerging Markets ETF (EEM) slid more than 1% on Wednesday.
Persons: Donald Trump's, Trump's, Yung, Yu Ma, Javier Milei, Adam Turnquist, Turnquist, , Sarah Min, Jesse Pound, Hakyung Kim Organizations: U.S, NBC, BMO Wealth Management, Dow Jones, Trump, Japan's Nikkei, American, ICE, greenback, LPL Financial Locations: Paris, France, Korea, Hong Kong, Taiwan, Chile, U.S, China, Europe, Asia, Pacific, Argentina
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCross-border banking consolidation doesn't make sense financially, says Crédit Agricole deputy CEOJérôme Grivet, deputy CEO at Crédit Agricole, discusses cross-border consolidation in the European banking sector.
Persons: Jérôme Grivet Organizations: Crédit Agricole
Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans. But stocks may also be reacting to Trump’s victory, in particular. Trump flipped several swing states from President Joe Biden’s 2020 victory, and Republicans also took control of the Senate. So Trump’s victory, at least for now, appears to be keeping those rates somewhat higher. Other so-called Trump trades, including shares of his social media stock, Trump Media & Technology Group, surged Wednesday morning.
Persons: Donald Trump, Trump, Joe Biden’s, refocusing, Sam Stovall, Bitcoin, Crypto, Trump’s, Germany’s DAX, Australia’s, , Neil Newman, Hong, ” Daniel Murray Organizations: New, New York CNN —, Dow, Nasdaq, Republicans, Fed, JPMorgan, Democratic, CFRA Research, Gross, Treasury, Trump, Trump Media & Technology Group, CAC, Nikkei, Advisory, EFG Asset Management Locations: New York, Europe, Asia, China, Tokyo, Shanghai
Europe could take a hit to GDP in a second Trump presidency, Goldman Sachs analysts say. Europe could face a big hit to economic growth as trade tensions increase, Goldman Sachs analysts said. The analysts downgraded their growth forecasts across the region, down to 0.8% from their previous forecast of 1.1% for 2025. AdvertisementThe analysts point to renewed trade tensions fueled by Trump's proposal for sweeping tariffs on all US imports. More significant than the actual tariff increases, though, will be the trade policy uncertainty that comes with them, the analysts say.
Persons: Goldman Sachs, , Trump, Joachim Nagel, Christine Lagarde Organizations: Trump, Service, EU, NATO Locations: Europe, TPU, Germany, Sweden, Switzerland, China, Ukraine
(Higher interest rates tend to boost the value of a currency by attracting more capital from abroad as investors seek bigger returns.) “Investors are bracing for tariffs… which will push up the price of imported goods for American shoppers,” she wrote in a note Wednesday. The pain of Trump’s tariffs will be felt far beyond US borders. “We also believe that Trump could decide to implement even higher tariffs on economies that run large trade surpluses with the US,” BMI analysts wrote in a note Wednesday. “Donald Trump’s economic course will pose major problems for Germany and the European Union,” the institute said.
Persons: Donald Trump, Matthew Ryan, Susannah Streeter, Hargreaves, , Trump’s, Trump, ” Nomura, Philip Shaw, Ellie Henderson, Streeter, Anthony Kettle, , Spencer Platt, “ Donald Trump’s Organizations: London CNN, Republican, Senate, CNN, Federal Reserve, Trump, , RBC Global Asset Management, BMI, Fitch Solutions, Port, Getty, European Union, Ifo Institute for Economic Research Locations: United States, Mexico, China, Germany, Canada, Japan, South Korea, Newark, New Jersey, Munich
Investigators searched the offices of U.S. streaming giant Netflix in France and the Netherlands Tuesday as part of a preliminary investigation into tax fraud and money laundering, a French judicial source close to the investigation told NBC News. Searches were being conducted simultaneously at the company's headquarters in Paris and Amsterdam by Dutch magistrates and investigators, accompanied by French magistrates and investigators. The French investigation, carried out by the PNF, a special financial crime prosecution unit notorious for pursuing high-stakes white-collar probes that often involve large international companies, was opened in November 2022. NBC News has reached out to Netflix in France for comment. A preliminary investigation in France does not imply criminal charges and does not necessarily lead to a trial.
Persons: Opera Garnier, Emily Organizations: Netflix, NBC, NBC News, Netherlands Financial Intelligence Unit, Opera Locations: France, Netherlands, Paris, Amsterdam, Italy
“I didn’t get married till I was in my 50s,” says Joanna, who is originally from San Francisco. Courtesy Joanna McIsaac-KierkloHowever, Joanna says they told themselves that things would be easier to “figure out” once they were actually in France. “I don’t miss gun violence. “But to live here is another story.”The couple is currently waiting to find out the cost of shipping their possessions back to San Francisco before taking the plunge. “We have a flight going back to San Francisco in January, and I think we’re not going to come back,” says Joanna.
Persons: CNN —, Joanna McIsaac, Ed Kierklo, Joanna, , , , , We’re, ” ‘, Ed, they’re, who’ve, didn’t, ” Joanna, you’ve, They’d, Nîmes, they’d, Suzette, “ You’ve, they’ve, ” She’d, ’ ”, It’s, You’ve, she’s, hasn’t, … ’, expats ”, Joanna hasn’t, They’re, it’s, France, San Francisco she'd, ‘ We’re, Ed “, I’ll Organizations: CNN Locations: France, San Francisco, Nîmes, Northern California, United States, London, Europe, Southern France, California, French, Montpellier,
SEOUL, South Korea — North Korea on Tuesday fired multiple short-range ballistic missiles toward its eastern sea, the South Korean military said, as the country continued its weapons demonstrations hours before the U.S. presidential election. South Korea’s Joint Chiefs of Staff said the missiles flew about 250 miles but did not specify how many were fired. The launches came days after North Korean leader Kim Jong Un supervised a flight test of the country’s newest intercontinental ballistic missile designed to reach the U.S. mainland. South Korea’s military intelligence agency said last week that North Korea has also most likely completed preparations for its seventh nuclear test. Experts say North Korea has yet to acquire some critical technologies to build a functioning ICBM, such as ensuring that the warhead survives the harsh conditions of atmospheric re-entry.
Persons: Shigeru Ishiba, Kim Jong Un, Kim Yo Jong, Kim Jong, Donald Trump, Kamala Harris, Harris, Kim, Vladimir Putin’s, Matthew Miller, Moscow’s, Kim Song, Robert Wood, ” Wood, “ We’re, Anna Evstigneeva, , Organizations: South Korean, U.S, Korea’s, Chiefs, Staff, North, United States, Republican, Democratic, Trump ., . State Department, Ukraine, European Union, Security, ” U.S, Korean Locations: SEOUL, South Korea, North Korea, Korea, Japan, Washington, South, U.S, Trump . ”, Russia, Ukraine, Russia’s Kursk, Ukraine’s, Seoul, United States, , Russian
The DHL Air Hub, the air freight center at Leipzig/Halle Airport in Germany on Aug. 30. The U.S. Transportation Security Administration said it has bolstered air cargo screening over the past several months. German and British authorities have said they were investigating suspected Russian sabotage in two incidents in July. In recent months, U.S., British, German and other European officials have accused Russia of organizing an increasingly aggressive sabotage campaign aimed at undermining and disrupting Western assistance to Ukraine. Russia has repeatedly rejected allegations from Western countries that it is orchestrating a sabotage campaign in Europe.
Persons: Heiko Rebsch, , , Thomas Haldenwang, Ken McCallum, ” McCallum Organizations: DHL, NBC News, Street Journal, DHL Air Hub, Halle Airport, U.S . Transportation Security Administration, U.S, White House National Security Council, CIA, Kyiv Locations: Russia, Germany, United Kingdom, North America, Leipzig, Birmingham, England, United States, America, Canada, Ukraine, Moscow, West, Europe
The Houthis possess a sizable arsenal of weapons, including missiles and drones. The Houthis have used these weapons to target ships in the Red Sea and Gulf of Aden. AdvertisementThe Houthi rebels couldn't have amassed their dangerous arsenal of weapons without extensive help from Iran and its proxy forces in the Middle East, according to a new report for the United Nations. Related storiesThe Houthis held a military parade in September 2023, during which the group boasted a formidable arsenal of anti-ship missiles, ballistic and cruise missiles, surface-to-air missiles, aerial drones, naval drones, speedboats, surveillance systems, and mines. AdvertisementUS naval forces have repeatedly intercepted vessels attempting to smuggle weapons from Iran to the Houthis illegally.
Persons: , couldn't Organizations: UN, Service, United Nations, UN Security, Lebanese Hezbollah, Pentagon Locations: Gulf of Aden, Iran, Yemen, Lebanese, Israel, Gaza, Iran's
Kevin Lamarque | ReutersTensions are likely running high in Kyiv ahead of Tuesday's presidential election in the U.S. — a vote that could make or break ongoing aid for Ukraine. Officials in Kyiv say the election is being watched closely, amid concerns that future aid could be cut. In the week before the presidential election, Western officials were reported as saying that a Harris administration would likely struggle to push significant aid for Ukraine through Congress. A win by Donald Trump could see him placing a phone call to Russian President Vladimir Putin as early as 6 November. Then President Donald Trump and Russian President Vladimir Putin at a joint press conference after their summit on July 16, 2018, in Helsinki, Finland.
Persons: Volodymyr Zelenskiy, Kamala Harris, Kevin Lamarque, , Donald Trump, Joe Biden, It's, Trump, it's, Yuriy Sak, J.D, Vance, JD Vance, Carlos Osorio, Putin, Harris, Timothy Ash, Reuters Ash, Ash, Tim Willasey, Vladimir Putin, Chris McGrath Organizations: U.S, White, Reuters, NBC News, Republican, Democrats, NATO, Russia, Ukrainian, CNBC, Anadolu, Getty, Kiel Institute of, European Investment Bank, European Commission, Republicans, Kyiv, Reuters Trump, Berenberg Bank, Berenberg, Washington, Congress, Trump, Ukraine, BlueBay Asset Management, Democratic, Royal United Services Institute Locations: Washington , U.S, Kyiv, U.S, Ukraine, United States of America, United States, America, Russia, Toretsk, Donetsk, Donbas, Moscow, St, Cloud , Minnesota, Europe, Belgian, Helsinki, Finland
Some US embassies in Europe are skipping traditional election-night viewing parties. Similarly, Politico spoke to then-Ambassador Anthony Gardner, who hosted a 2016 viewing party at the US Embassy in Brussels. A senior diplomat in Europe, who was not named, told Politico that the 2016 embassy events had been "calamitous." There's another, more practical reason some embassies may be forgoing a traditional viewing party. AdvertisementSimply put, the outcome may not be clear on election night — it could drag on for days or possibly weeks.
Persons: , Kamala Harris, Donald Trump, Samantha Power, Madeleine Albright, Gloria Steinem, Hillary Clinton, Anthony Gardner, Trump, There's Organizations: Service, Politico, United Nations, UN, HBO, Trump, White Locations: Europe, London, Paris, Brussels, Berlin, Rome
CNBC Daily Open: All eyes on U.S. elections
  + stars: | 2024-11-05 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. History forecasts a market rally after electionsHistorically, stocks have mostly risen after a presidential election, though there can be some short-term volatility. The three major U.S. benchmarks on average have almost always clocked gains between Election Day and year-end, going back to 1980, according to CNBC data. Markets slip ahead of Election DayStocks fell Monday as investors awaited the U.S. presidential election and Fed rate verdict later this week.
Persons: Wall, aren't, Stocks, Jeff Bezos Organizations: CNBC, JPMorgan, Fitch, Federal Reserve, Dow Jones, Nasdaq, Intelligence, Investors, Amazon, U.S, Conference Board Locations: U.S, Francisco
LONDON British telecom firms Vodafone and Three's multibillion-pound merger could go ahead if the companies adopt a series of proposed remedies to clear competition concerns, regulators said Tuesday. Vodafone has previously said that the combined entity, once merged, would invest £11 billion ($14.46 billion) into U.K. telecommunications infrastructure. Vodafone has also said it disagrees with earlier findings from the CMA that the merger would lead to price increases for consumers. It says the merger wouldn't pricing strategy and would enhance competition between mobile virtual network operators, or MVNOs. "Approval would mark one of the most significant developments in the history of UK mobile, heralding the arrival of a new market leader with over 29 million customers," Manning said in emailed comments.
Persons: Margherita Della Valle, Three's, Stuart McIntosh, McIntosh, CK Hutchison, Kester Manning, Manning Organizations: Vodafone, LONDON, Markets Authority, Ofcom, CMA, CNBC, 5G, Sky Mobile, Mobile, CK, CK Hutchison, EE, BT, O2, Telefonica, Liberty Global, CCS Insight Locations: London, British, Hong Kong
European stocks are heading for a lackluster start to the trading day as global markets gear up for the U.S. presidential election Tuesday, with the vote too close to call between former President Donald Trump and current Vice President Kamala Harris. The U.K.'s FTSE 100 index is expected to open 15 points lower at 8,177, Germany's DAX down 12 points at 19,149, France's CAC down 1 point at 7,374 and Italy's FTSE MIB up 73 points at 34,358, according to data from IG. Earnings are set to come from Saudi Aramco, Adecco, Schaeffler, Deutsche Post DHL, Zalando, Hugo Boss, Bouygues, Ørsted, Vestas Wind and Fresenius Medical Care. Market attention will be focused on which party dominates Congress as a result of the U.S. election, given that a sweep by Republicans or Democrats could contribute to drastic spending changes or a big revamp of tax policy. Follow CNBC's 2024 election live blog here.
Persons: Donald Trump, Kamala Harris, Germany's DAX, Hugo Boss, Bouygues, Ørsted Organizations: U.S, France's CAC, IG, Saudi Aramco, Adecco, Deutsche Post DHL, Zalando, Fresenius, Republicans Locations: Saudi
Investors in Europe who are concerned about former President Donald Trump's potential return to the White House have several options at their disposal, according to Barclays strategists. European markets are already trading with a risk premium ahead of a potential Trump win, and the investment bank believes the full impact may not be reflected in current valuations. "The possibility to bypass Congress increases the risk of tariff implementation in the event of a Trump win," said Barclays strategists led by Emmanuel Cau in a note to clients on Oct. 23. "Compared to a status quo scenario under a Harris win, a Trump win may have broader and more discriminant implications for markets." Under such a scenario, Barclays strategists warned that investors would have nowhere to hide anywhere.
Persons: Donald Trump's, Emmanuel Cau, Harris, Kamala Harris, DAX, Trump, isn't, — CNBC's Michael Bloom Organizations: Barclays, Trump, White Locations: Europe, China, U.S, Russia, Ukraine
I moved from the US to Germany 14 years ago and am now raising a kid here. AdvertisementWhen asked where I'm from, saying I'm American" doesn't suffice. Sadly, I'm also still stuck in my native English head, which doesn't delineate between a formal and informal "you," either. We're three hours by train from Amsterdam, three and a half hours by train from Paris, and four hours by train from London. Despite all the mistakes, misunderstandings, and episodes of embarrassment, I can honestly say that I'm grateful for everything living in Germany has brought me.
Persons: , I've, it's, JENS SCHLUETER, I'm, We've Organizations: Service Locations: Germany, United States, Los Angeles and New York, Europe, Amsterdam, Paris, London
Naomi Whitehead, 114, is the oldest living person in the US. She shared some of the lifestyle choices that she thinks have helped her live so long. Whitehead never expected to live so long, telling New Castle News in 2023: "I'll live as long as the Lord lets me." But average life expectancies are growing, alongside interest in how our lifestyles can help us live longer. Whitehead is now the oldest living person in the US after the previous titleholder died in October.
Persons: Naomi Whitehead, , Whitehead, Elizabeth Francis, centenarians, Bryan Johnson, Dan Whitehead, Paul's, Jack Gordon Organizations: Service, New, News, Pew Research, British, of Sports Medicine, Research, Harvard, Chan, of Public Health, World Health Organization, European, WHO, American Cancer Society Locations: Georgia, St, Toronto, Europe
Thousands more jobs are under threat in Germany's beleaguered automotive industry. Parts supplier Schaeffler said it would cut thousands of jobs for a net reduction of about 3,700 workers. Union officials said Volkswagen plans to shut factories in Germany for the first time. AdvertisementGermany's auto industry is under intense pressure — and now thousands of jobs will go at a key company in the supply chain. Auto parts supplier Schaeffler said on Tuesday it would cut about 4,700 jobs across Europe and close two of its 10 locations in Germany.
Persons: Schaeffler, , Klaus Rosenfeld, Schaeffler's, Mercedes, BYD Organizations: Service, VW, BMW, Mercedes, Benz, Volkswagen, EV, EVs Locations: Germany, Europe, Frankfurt, Europe's, China, Hungary, Turkey
Bitcoin, an asset tied to a Trump victory given the candidates courtship of the industry, soared to a record $75,000 . Heading into the election, investors and analysts pointed to several stocks and sectors that could benefit from a Trump win. Here's a roundup of some of those: Steel stocks If Trump regains the presidency, JPMorgan expects steel stocks to outperform . Related stocks that could outperform under a Trump victory include Nucor , Cleveland-Cliffs , Kaiser Aluminum and MP Materials , according to Peterson. Supporters of Trump have also used the stock as a way to invest in a Trump victory.
Persons: Donald Trump ., Trump, Kamala Harris, Here's, Bill Peterson, Peterson, UBS's, Goldman Sachs, Strategas, Lazard, Wolfe, Tesla, Elon Musk's, Marion Laboure, bitcoin, Nic Puckrin, David Zerzos, Zerzos, Marcelli, Seth Seifman, Russell, Joe Biden, IWM, , Halliburton, Trump's, ULTA, Michael Bloom, Sean Conlon, Alex Harring, Fred Imbert, Pia Singh Organizations: U.S, NBC, Stock, Dow Jones Industrial, Trump, JPMorgan, Aluminum, Financials Bank of America, of America, UBS's Trump, UBS, Swiss, Citigroup, Citizens, Wolfe Research, GOP, Trump Media & Technology, Trump Media, ISI, Deutsche Bank, Investors, Jefferies, Military, Strategas, Gas Energy, Evercore ISI, Exxon Mobil, Halliburton, Companies Locations: Nucor, Cleveland, U.S, China, U.S . Southern
Beijing will avoid escalation of its dispute with the European Union over tariffs on its electric vehicles, industry watchers said, a day after China again approached the World Trade Organization for resolution. China's commerce ministry said Monday that it had filed an additional appeal with the WTO over the EU's tariffs on its EVs, as bilateral talks have yet to lead to a breakthrough. The EU reportedly accounted for more than 40% of Chinese EV exports in 2023. EU has raised its tariffs to as much as 45.3% on Chinese EVs following an year-long investigation. The measures had prompted Beijing to target European exports such as pork, dairy and brandy products.
Persons: Shaun Rein, Sam Radwan Organizations: European Union, World Trade Organization, WTO, China Market Research, CNBC, U.S, EU, International Locations: Beijing, China, Europe, EU, Washington
I've been on the ships of their four high-end counterparts: Silversea, Regent Seven Seas, Seabourn, and Explora. AdvertisementSilversea's Silver Ray: A modern resort with local cuisinesIn June, Silversea invited me to spend five complimentary nights on its newest 54,700-ton ship, Silver Ray. It launched its newest ship, Silver Ray, in June. Brittany Chang/Business InsiderSilversea's SALT — "sea land and taste" — program brings the itinerary's regional cuisines into the cruising experience. Related storiesRegent Seven Seas' Seven Seas Grandeur: Classic luxuryRegent Seven Seas invited me on a three-night "christening sailing" for its one-year-old Seven Seas Grandeur.
Persons: I've, , Ray, Silversea, Silver Ray, Brittany Chang, It's, toiletries, Explora, it's, Dyson, Seabourn Organizations: Royal, MSC, Regent Seven, Service, Industry, Business, butlers, Seven Seas, Regent Seven Seas, Cruise Line Holdings, Rim, Central America, MSC Group, Rolex Locations: Seabourn, Royal Caribbean, South America, Caribbean, Callao, Peru, Valparaiso, Chile, Brittany, Europe, Miami, Mexico, Central, Alaska, Asia, Australia, New Zealand, Canadian
More executives are seeking protection, a private security firm chief told The Financial Times. Steve Jones, the chief executive of security company Allied Universal, told The Financial Times that global political instability had created increased demand for security services. AdvertisementLast year, Alex Bomberg, chief executive of Intelligent Protection International, told Financial News that demand for executive security had doubled in 12 months. According to Allied's World Security Report, in 2022, companies lost more than $1 trillion in revenue due to physical security incidents. AdvertisementOne in four publicly listed companies reported a drop in their value after a physical security incident over the last year, the report said.
Persons: Steve Jones, Jones, We've, Allianz's, Mark, Sundar, Alex Bomberg, It's, that's Organizations: Financial Times, Service, Allied Universal, Fortune Business, Trump, Allianz Insurance, Palestine, Group, Web Services, Google, Business, Companies, Meta, Intelligent Protection, Financial News Locations: Israel, Washington ,, Germany
He recently told the Wall Street Journal editorial board that Chinese President Xi Jinping respects him but also knows he’s “crazy” and wouldn’t provoke him. But Chinese officials might also see potential for Musk to be a mitigating influence on issues such as tariffs. Like other American business leaders, Musk has met with senior Chinese officials as Beijing courts international companies. AP fileIf Chinese officials receive Musk almost like a world leader, the Chinese public treats him like a rock star. Chinese officials have not been shy about making the connection between what Musk says and where he makes his money.
Persons: Donald Trump, Elon Musk, Jia Qingguo, Trump, ” Jia, Xi Jinping, he’s, ” Trump, Joe Biden’s, , they’re, , Kelly Grieco, Musk, Li Qiang, Qin Gang, ” Grieco, Jennifer Lian, Henry Kissinger, Ian Bremmer, Tesla, Kuan, “ He’s, ” Tesla, Li Keqiang, Li, ” Musk, Grieco, didn’t, Xi, Qin, Hsiao, Kamala Harris, Janis Mackey Frayer, Jennifer Jett Organizations: SHANGHAI, Trump, Peking University, NBC News, Wall Street, Stimson, Qin, Weibo, Communist Party ., Eurasia Group, SpaceX, Shanghai Gigafactory, Getty, U.S, Shanghai, NBC, Global Times, Financial Times, Beijing, Washington, U.S ., Democratic Locations: China, Beijing, Musk, Washington, U.S, United States, York, Shanghai, Chinese, Jiangsu, Xinjiang, Taiwan, Hong Kong, Starlink, Ukraine, Russian, British, European
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