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☆ CEO of Hapag-Lloyd, one of world's top ocean shippers, says the outlook has changed for global economy, trade demand
▼ + stars: | 2024-03-15 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

We saw them coming up a bit towards the end of the quarter, and then of course, the Red Sea crisis ... which again changed the market." Rolf Habben Jansen, CEO of Hapag-Lloyd, the world's fifth-largest ocean carrier, tells CNBC he has an improved view on trade for the rest of 2024. "It's a concerning situation and I think the [Red Sea] outlook is very difficult," Jansen said. In addition to the added costs, according to Sea-Intelligence, the Red Sea diversions could increase carbon dioxide emissions by 260%–354%. New ocean alliance with MaerskThe reduction in global freight and schedule reliability are headwinds ocean carriers have been facing for months.

Persons: Lloyd, Jansen, Rolf Habben Jansen, Hapag Lloyd, Hansen, it's, Lars Østergaard Nielsen, Nielsen, " Hansen Organizations: CNBC, Intelligence, EU, Trading, Maersk, Hapag, Gemini, Sea, MSC Locations: U.S, Asia, West Coast, East Coast, Gulf Coast, Red, Aden, Yemen, Africa, Europe, Suez, Panama, California

☆ European Central Bank chief economist says we need to 'take our time' to get rate cuts right
▼ + stars: | 2024-03-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank must take its time to get interest rate cuts right and will have a clearer picture of inflationary pressures in June, the institution's chief economist told CNBC. Lane, also a Governing Council member, said the euro zone central bank's March meeting had been an "important milestone" in the accumulation of evidence, and showed the "disinflation process has been ongoing." During the meeting, the ECB held rates and released updated macroeconomic projections, which lowered its inflation forecast for this year to 2.3% from 2.7%. Inflation in the 20-nation bloc eased to 2.6% in February. In a press conference following the March meeting, ECB President Christine Lagarde said market pricing on the timing of rate cuts — which indicate a start in June as of Thursday — "seems to be converging better" with the central bank's view.

Persons: what's, we've, Philip Lane, Steve Sedgwick, Lane, Christine Lagarde Organizations: European Central Bank, CNBC, ECB

The European Union’s upcoming ban on imports linked to deforestation has been hailed as a “gold standard” in climate policy: a meaningful step to protect the world’s forests, which help remove planet-killing greenhouse gases from the atmosphere. The law requires traders to trace the origins of a head-spinning variety of products — beef to books, chocolate and charcoal, lipstick and leather. To the European Union, the mandate, set to take effect next year, is a testament to the bloc’s role as a global leader on climate change. Developing countries have expressed outrage — with Malaysia and Indonesia among the most vocal. Together, the two nations supply 85 percent of the world’s palm oil, one of seven critical commodities covered by the European Union’s ban.

Organizations: European Union Locations: Malaysia, Indonesia

☆ From warning on nuclear war to 'psychotropic drugs': Here are 5 things Putin told the Russian media
▼ + stars: | 2024-03-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

Russian President Vladimir Putin making a speech at the second Eurasian Economic Forum on May 24, 2023, in Moscow, Russia. In an interview with pro-Kremlin media published Tuesday, Putin laid out his vision for relations with the West, war and peace. 1) Russia 'technically' ready for nuclear warPutin was again keen to point out that Russia is ready for a nuclear war on a technical and military level. Nonetheless, Putin said Russia would be ready to conduct nuclear tests — if the U.S. did so. It's estimated that the war has cost Russia at least 315,000 dead and wounded troops during two years of war in Ukraine.

Persons: Vladimir Putin, Putin, Dmitry Kiselev, Mikhail Klimentyev, Ria Novosti, Rossiya, We've, Ukraine's, Joe Biden, Jens Stoltenberg, Volodymyr Zelenskyy, Ludovic Marin, Emmanuel Macron Organizations: Economic Forum, Getty, Kremlin, RIA Novosti, Ukraine Rossiya, It's, Afp, Ria, Russian Federation —, NATO, AFP, Ukraine Locations: Moscow, Russia, U.S, Ukraine, Crimea, Europe, Paris

Here’s a look at the world's first comprehensive set of AI rules:HOW DOES THE AI ACT WORK? The law’s early drafts focused on AI systems carrying out narrowly limited tasks, like scanning resumes and job applications. The astonishing rise of general purpose AI models, exemplified by OpenAI’s ChatGPT, sent EU policymakers scrambling to keep up. Rules for general purpose AI systems like chatbots will start applying a year after the law takes effect. Meanwhile, Brussels will create an AI Office tasked with enforcing and supervising the law for general purpose AI systems.

Persons: Dragos Tudorache, Sam Altman, OpenAI’s ChatGPT, it’s, ”, Joe Biden, that’s, Xi Jinping, they've Organizations: —, Union, Lawmakers, Artificial Intelligence, Big, ACT, EU, Google, Companies, Global AI, Initiative, United Nations, Group Locations: Romanian, Europe, Brussels, U.S, China, Brazil, Japan

☆ China’s Exports Are Surging. Get Ready for the Global Backlash.
▼ + stars: | 2024-03-12 | by ( Keith Bradsher | ) www.nytimes.com time to read: +1 min

China’s factory exports are powering ahead faster than almost anyone expected, putting jobs around the world in jeopardy and setting off a backlash that is gaining momentum. From steel and cars to consumer electronics and solar panels, Chinese factories are finding more overseas buyers for goods. But other countries are increasingly concerned that China’s rise is coming partly at their expense, and are starting to take action. The European Union announced last week that it was preparing to charge tariffs, which are import taxes, on all electric cars arriving from China. The European Union said that it had found “substantial evidence” that Chinese government agencies have been illegally subsidizing these exports, something China denies.

Organizations: European Union, Union Locations: China

☆ NATO's newest member says it's ready to fortify a strategic island in the middle of the Baltic Sea close to Russia
▼ + stars: | 2024-03-12 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Sweden is considering reinforcing Gotland, a strategic island in the Baltic Sea, after joining NATO. AdvertisementSweden is open to re-fortifying a crucial island in the Baltic Sea now that it's joined NATO, its prime minister said. "That goes in terms of presence on Gotland, but also in terms of surveillance, in terms of submarine capabilities." Gotland marked with an arrow in the Baltic Sea. Gotland is considered to hold a key strategic position in the Baltic Sea, and is often referred to as an "unsinkable aircraft carrier."

Persons: —, it's, Ulf Kristersson, Kristersson, Tom Porter, Anna Wieslander, Eric Adamson, Carl, Oskar Bohlin Organizations: NATO, Service, Financial, Google, Atlantic, FT, Atlantic Council, BBC Locations: Sweden, Gotland, Baltic, Estonia, Latvia, Lithuania, Finland, Poland, Swedish, Russian, Kaliningrad, Crimea, Ukraine, Russia

☆ EU Countries to Demand Bloc Does More to Help Farmers, Draft Statement Says
▼ + stars: | 2024-03-12 | by ( March | At A.M. | ) www.usnews.com time to read: +2 min

By Jan Strupczewski and Kate AbnettBRUSSELS (Reuters) - European Union country leaders will urge the EU to work quickly on more measures to support farmers in response to months of protests by angry agriculture workers, draft conclusions for an EU leaders' summit showed. The EU has already watered down some environmental policies in response to the sometimes violent protests, but with farmers still taking to the streets this week in Belgium and France, Brussels is under pressure to do more. Draft conclusions for an EU summit on 21-22 March, seen by Reuters, showed EU country leaders plan to ask the European Commission to work without delay on "all possible short-term measures, including those to reduce the administrative burden and achieve simplification for farmers". The EU should also take action to strengthen the position of farmers in the food supply chain, and ensure they can earn a fair income, the draft said. The EU Environment Agency this week said current EU food policies are failing to address climate change risks.

Persons: Jan Strupczewski, Kate Abnett BRUSSELS, Kate Abnett, Jan Harvey Organizations: Union, EU, Reuters, Commission, EU Environment Agency Locations: Belgium, France, Brussels, Europe, Poland, Germany, Slovenia, EU

☆ Biden meets with Teamsters leaders as he seeks crucial union endorsement
▼ + stars: | 2024-03-12 | by ( Michael Williams | Donald Judd | ) edition.cnn.com time to read: +3 min

Washington CNN —President Joe Biden met on Tuesday with leaders from the International Brotherhood of Teamsters as he tries to court the crucial union vote ahead of November. Biden is competing with former President Donald Trump for a Teamsters endorsement. Biden has already received one critical union endorsement: the United Auto Workers backed him during their Washington meeting in January. Biden has long presented himself as “the most pro-union president ever,” but an endorsement from union leadership doesn’t necessarily translate into support from rank-and-file members. Trump met with Teamsters leader Sean O’Brien at Mar-a-Lago late last year as well.

Persons: Joe Biden, Biden, Donald Trump, “, ” Trump, Hillary Clinton, Trump, Shawn Fain, “ Joe Biden, ” Fain, ”, Sean O’Brien Organizations: Washington CNN, International Brotherhood of Teamsters, Teamsters, ”, Social Security, Trump, Biden, United Auto Workers, UAW, State, Union, CNN, WGA, Anheuser, Busch, Republican National Committee, Democratic National Committee, FEC, Lago Locations: Michigan , Wisconsin, Pennsylvania, Washington, Michigan, Mar

☆ Explainer-How the West Might Use Russia's Frozen Reserves
▼ + stars: | 2024-03-12 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

Here are some of the ideas that have been suggested:CONFISCATIONSome international policymakers and lawyers say the immobilised Russian reserves can simply be confiscated under a doctrine of international law known as "countermeasures". Some in the bloc are still wary, though, and the European Central Bank has warned that claiming the trapped Russian assets should only be done in tandem with G7 powers. The bondholders would not have a contractual claim on the Kremlin’s frozen reserves. Ukraine would have a plausible way to collect on any damages awarded up to the value of the reserves. If Moscow refused to pay the damages, the allies could then use Russia’s frozen assets to pay off the loan.

Persons: Marc Jones, Lee Buchheit, Daleep Singh, Mark Heinrich Organizations: Marc Jones LONDON, Emergency Economic, U.S, European Central Bank Locations: Ukraine, Russia, Kuwait, United States, EU, Russian, Brussels, Belgium, U.S, Britain, China, Hong Kong, Dubai, Moscow

☆ Haiti’s Prime Minister Ariel Henry resigns as gangs run rampant through country engulfed in crisis
▼ + stars: | 2024-03-11 | by ( Caitlin Stephen Hu | ) edition.cnn.com time to read: +2 min

Henry submitted his resignation, officials of the regional bloc CARICOM announced Monday night. “We acknowledge the resignation of Prime Minister Ariel Henry upon the establishment of a transitional presidential council and the naming of an interim prime minister,” Guyana leader and current CARICOM President Irfaan Ali said. Henry was under pressure from the US to secure a political settlement, but it is far from clear who will step in. One named touted is Guy Philippe, a rebel leader recently deported from the US to Haiti after serving time for money laundering. But his decision only further enraged protesters who had for months demanded he stand down as Haiti slid further into poverty and rampant gang violence.

Persons: Ariel Henry, Henry, “, Irfaan Ali, Guy Philippe, Haiti’s, Prince Organizations: CNN, CARICOM, Caribbean, UN Locations: Haiti, Caribbean, Guyana, Kingston, Kenya, Haitian, Port

“Whilst we are making considerable progress, the stakeholders are not yet where they need to be,” Caricom said in a statement Friday announcing the urgent meeting in Jamaica. Attacks by powerful gangs on key government targets began Feb. 29 across Haiti's capital of Port-au-Prince. The main port in Port-au-Prince remains closed, stranding dozens of containers with critical supplies. Henry remains locked out of his country, landing in Puerto Rico last week after being denied entry into the Dominican Republic, which shares the island of Hispaniola with Haiti. Photos You Should See View All 60 ImagesWhen the attacks began, Henry was in Kenya pushing for the U.N.-backed deployment of a police force from the East African country that has been delayed by a court ruling.

Persons: Antony Blinken, Ariel Henry, Henry, Henry’s, “ Organizations: —, Caribbean Locations: KINGSTON, Jamaica, Haiti, Haiti's, Port, Puerto Rico, Dominican Republic, Hispaniola, Kenya, East

☆ Trump's plan to end the Ukraine war is to totally cut off funding, says Putin's closest EU ally
▼ + stars: | 2024-03-11 | by ( Mia Jankowicz | ) 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. In comments made to Hungarian news outlet M1, Orbán said Trump has detailed plans on how to end the war, Reuters reported. Describing the conversation, Orbán claimed that Trump said he "will not give a penny into the Ukraine-Russia war and therefore the war will end," Orbán said, per Reuters. Trump has previously claimed he would "end that war in one day," without specifying how that would be achieved. President Joe Biden slammed Trump's meeting with Orbán, who is considered President Vladimir Putin's closest ally in Europe.

Persons: —, Donald, Viktor Orbán, Orbán, Trump's, Trump, could've, Vladimir Putin, Joe Biden, Vladimir Putin's, Biden Organizations: Service, Mar, Business, Reuters, Trump, Trump Republicans, Congress, NATO, Politico Locations: Ukraine, Russia, NATO, Europe

☆ U.S. forces fly in to beef up security at embassy in Haiti and evacuate nonessential personnel
▼ + stars: | 2024-03-10 | by ( ) www.cnbc.com time to read: +6 min

A man walks next the U.S. embassy building where the U.S. military airlifted embassy non-essential personnel due to violence, in Port-au-Prince, Haiti, on March 10, 2024. The U.S. military said Sunday that it had flown in forces to beef up security at the U.S. Embassy in Haiti and allow nonessential personnel to leave. "This airlift of personnel into and out of the Embassy is consistent with our standard practice for Embassy security augmentation worldwide, and no Haitians were on board the military aircraft," according to the Southcom statement. In many cases, nonessential personnel can include the families of diplomats, but the embassy had already ordered departure for nonessential staff and all family members in July. The personnel ferried out of the embassy may have simply been rotating out, to be refreshed by new staff.

Persons: Ariel Henry, Henry, Luis Abinader, Jovenel Moise Organizations: U.S ., U.S, Embassy, U.S . Southern Command, Dominican, Haitian, United Nations, Caricom, Guards, Prince Locations: U.S, Port, Prince, Haiti, United States, Kenya, East, Puerto Rico, Dominican Republic, Hispaniola, Dominican, Jamaica, France, Canada, Brazil, Caricom

☆ Analysis: China worried about return of Trump, but also sees opportunities if he wins 2024 election
▼ + stars: | 2024-03-10 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +15 min

Then-US President Donald Trump and his wife Melania with Chinese leader Xi Jinping and his wife Peng Liyuan at Beijing's Forbidden City in 2017. “If this decoupling is carried out by Trump 2.0 in a very forceful way, the impact on China is going to be very severe. But experts say China’s business and official sectors are likely already considering contingency plans. Chinese leader Xi Jinping and Russian President Vladimir Putin leave a reception following talks at the Kremlin in March 2023. “Whoever wins – the structure of (US) confrontation, competition, pressure to China are still there,” he said.

Persons: Joe Biden, Xi, Donald Trump, didn’t, –, Biden, Wang Yi, Trump, He’s, Trump’s, Brian Wong, ” Wong, Lintao Zhang, Obama, Melania, “, Xi Jinping, Peng Liyuan, Xie Huanchi, he’s, ”, Bala Ramasamy, Shen Dingli, Premier Li Qiang, Ronald Reagan, “ Biden, Shen, ” Trump, skeptically, Vladimir Putin, Putin, Pavel Byrkin, Wong, it’s, Wang Yiwei Organizations: Beijing CNN —, Communist Party, Biden, Senior, Trump’s “, University of Hong Kong’s, Contemporary, House, oceanside, Trump, of, Forbidden, Huawei, Oxford Economics, China Europe International Business School, Premier, American, South Korea Navy, Asia –, Russia’s, NATO, Europe, Kremlin, Getty, South Korea –, White House, Renmin University Locations: China, Beijing, State, US, Russia, Communist, Contemporary China, Taiwan, Lago, City, Xinhua, Shanghai, Southeast Asia, Latin America, Europe, China's Qingdao Port, –, Asia, Seoul, Tokyo, Ukraine, United States, AFP, Japan, South Korea, America, Washington, Hong Kong, South China

☆ US, Germany and EU embassies begin evacuating staff as violence spirals in gang-plagued Haiti
▼ + stars: | 2024-03-10 | by ( Caitlin Stephen Hu | Helen Regan | ) edition.cnn.com time to read: +7 min

Dajabon, Dominican Republic CNN —The United States and other diplomatic missions have begun evacuating personnel from Haiti, as gang violence in the Caribbean nation’s capital Port-au-Prince continues to spiral. US Southern Command said the move was consistent with “standard practice for Embassy security augmentation worldwide.” No Haitians were on board the military aircraft, it added. Another source with knowledge of the operations told CNN there have been at least 12 helicopter evacuation flights into Port-au-Prince over the past three days, all evacuating diplomatic and humanitarian staff. However, shots fired nearby after the last flight’s take off on Sunday have called into question the viability of continuing the evacuation flights, the source said. The World Food Programme suspended its maritime transport services in Port-au-Prince from distributing aid across Haiti due to the instability.

Persons: Dajabon, ”, Joe Biden, Peter Sauer, Stefano Gatto, —, Prince, Gang, Jimmy Cherizier, Ariel Henry, Stephane Dujarric, Henry Organizations: Dominican Republic CNN, CNN, US State Department, US Southern Command, Southern Command, National Security Council, CNN Helicopter, European Union, EU, Caribbean Port Services, Dominican, United Nations, US Department of Treasury, Food, UN, OCHA, Kenya, Kenyan, Caribbean Locations: Dominican Republic, United States, Haiti, Caribbean, Port, Dominican, Haitian, Santo Domingo, Petionville, Haiti’s, Puerto Rico, CARICOM, Kingston

CNN —Two police stations near Haiti’s National Palace were attacked by armed individuals Friday night, as gang violence in the Caribbean nation’s capital of Port-au-Prince continued to spiral. Armed groups have burned down police stations and released thousands of inmates from two prisons, and Cherizier has warned of “a civil war that will end in genocide” if the prime minister does not step down. A woman cries as she walks near her husband's shop that armed gang members set fire to in Port-au-Prince, Haiti, March 7, 2024. Haiti is a member state, but it is unclear if Haitian Prime Minister Ariel Henry will be at the meeting. CNN has reached out to the Haitian prime minister’s office for comment.

Persons: Prince, Jimmy Cherizier, Ariel Henry’s, Cherizier, Henry, Synapoha, ” Stephane Dujarric, Clarens Siffroy, Sophie Mealier, Pierre Espérance, Ariel Henry, Jim Rogers, Rafy Rivera, Michael Conte, Abel Alvarado Organizations: CNN, Kenya, Kenyan, Haitian, Port, Caribbean Port Services, UN, Getty, Haitian Human Rights Defense Network, CARICOM, Caribbean Locations: Haiti’s, Caribbean, Port, Puerto Rico, Dominican Republic, Prince, Haiti, AFP, Region, Prince’s, Canada, Kingston

☆ These voter reactions to Biden’s State of the Union fall largely along partisan lines
▼ + stars: | 2024-03-08 | by ( John King | ) edition.cnn.com time to read: +11 min

The biggest takeaway came from the reviews of voters like Lang: loyal Democrats who have raised important policy and performance issues about the president. On Thursday, these voters saw a president who was listening to their concerns, but they also said that steps in the right direction did not mean the problem was solved. In Biden’s speech, Lang saw some proof that his team is listening. She is more conservative than Biden but saw things to like in his speech, including his “commitment to democracy.”Two topics hit home. “Striking to hear President Biden call for free preschool, but not support the right of families like mine to use our own tax dollars for K-12 education,” Gurr said.

Persons: Angela Lang, Joe Biden’s, ”, Lang, ” Priscilla Forsyth, ” Forsyth, Nikki Haley, ” Lang, Forsyth, Donald Trump, Darrell Ann Murphy, “, Trump, Mickey Brown, Jade Gray, Michiganders, Wisconsin Lang, Biden, ” Davette Baker, ” Baker, . Nevada Zoila Sanchez, ” Antonio Munoz, ” Munoz, Laken Riley, ” Riley, Marjorie Taylor Greene, Valeria Gurr, ” Gurr, Murphy, “ Strong, –, ” Murphy, Larry Malinconico, ” Malinconico, Malinconico, ” Brown, Pat Levin, Brown, ” New Hampshire Pete Burdett, Haley, ” Burdett, “ Don’t, ” Trump, Debbie Katsanos, “ I’ve, ” Katsanos, Iowa Forsyth, Shannen Ebersole, ” Ebersole, South Carolina Billy Pierce, Republican badgering, Pierce, Michigan Gray, “ Biden, ” Gray Organizations: CNN, Trump, Biden, University of Michigan, school’s College Democrats, Black, Communities, African, Reagan Republican, Alabama, Las, Republican, Lafayette College, South Carolina, Navy Locations: Joe Biden’s State, Milwaukee, Iowa, Easton , Pennsylvania, Bethlehem , Pennsylvania, Gaza, Wisconsin, . Nevada, Georgia, Pennsylvania, Northampton County, Easton, Bethlehem, ” New Hampshire, New, Sioux City, Forsyth, Ringgold County, South, Hartsville , South Carolina, Israel

Apple has reversed course under regulatory pressure and cleared the way for a nettlesome adversary, video game maker Epic Games, to set up an alternative store for iPhone apps in Europe. Apple attributed the change of heart to reassurances from Epic that it won't violate its requirements for getting access to iPhone owners. Epic had brazenly broke the rules in the U.S. in 2020 to trigger an antitrust lawsuit alleging Apple's App Store is a monopoly. Apple had rejected Epic's attempt to set up an account that would have allowed it to set up an alternative store for downloading iPhone apps — something that Apple has held exclusive control over for more than 15 years. Apple is demanding more than $73 million from Epic to cover its fees in the U.S. antitrust case over the App Store.

Persons: brazenly, Apple, Tim Sweeney, Sweeney Organizations: Apple, Epic, Epic Games, European Commission Locations: Europe, U.S, Sweden

☆ Big Tech goes from 'teenager' to 'grown-up' under landmark EU law. Here's what you need to know
▼ + stars: | 2024-03-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Justin Tallis | AFP via Getty ImagesAn EU law that seeks to rein in large digital companies has officially kicked in, spelling big changes for primarily U.S. tech giants. CNBC runs through how the law impacts large U.S. tech companies — as well as consumers in the EU. The EU Digital Markets Act primarily impacts U.S. tech giants — the likes of Alphabet , Amazon , Apple , and Meta . The rules have already sparked big changes for tech giants in how they serve customers in the EU. It's likely more adjustments will come, as competitors to Big Tech firms aren't happy with the proposals put in place so far.

Persons: Justin Tallis, Bill Echikson, Echikson, ByteDance, Apple Organizations: Apple, Facebook, Microsoft, Getty, Digital Markets, European Commission, Center for, CNBC, Big Tech, EU Digital Markets, Meta, Google, Companies, EU, Spotify Locations: EU, U.S, iPhones

☆ China’s exports jump thanks to demand from India, Russia and other emerging markets
▼ + stars: | 2024-03-07 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China registered a surprise jump in foreign trade at the start of the year, partly because of strong demand from Russia, India and emerging markets in Africa and Latin America. China’s economy is battling a number of headwinds, including weak consumer and investor confidence, high youth unemployment and a long-running real estate crisis. Apart from the weak base effect, strong demand from emerging markets helped China’s trade surge at the start of the year. Meanwhile, China’s exports to Russia increased 12.5%, representing a slowdown from the rapid growth seen last year. “At the current juncture, it is likely too soon to call for a revival in China’s trade sector,” said HSBC analysts on Thursday.

Persons: ”, Nomura, “, Lynn Song, Biden, Wang Wentao Organizations: Hong Kong CNN, Exports, European Union, “, HSBC, Greater China, ING, European Commission, Wall Street Locations: Hong Kong, China, Russia, India, Africa, Latin America, Moscow, United States, Japan, Australia, Greater

☆ Sweeping EU rules for tech giants take effect today. Here’s what’s changing
▼ + stars: | 2024-03-07 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

The new EU regulations force sweeping changes on some of the world’s most widely used tech products, including Apple’s app store, Google search and messaging platforms, including Meta’s WhatsApp. Its broad obligations affect six of the world’s largest tech companies: Amazon, Apple, Google, Meta, Microsoft and ByteDance, the parent company of TikTok. While the law could increase demand for tech companies to extend EU-specific features to other markets, few platforms have shown signs they plan to do so. Tech pushes backBut some tech companies have pushed back on the DMA, warning that it could lead to unintended consequences. “The changes the DMA requires will inevitably cause a gap” between EU users’ security and the security Apple users enjoy outside the EU, it added.

Persons: Meta’s, Apple, Bing, Elon Musk’s, “ Fortnite, ”, Agustin Reyna, “, Apple’s, ” Apple, Reyna, ” BEUC, Tim Sweeney, Meta —, Daniel Friedlaender, CCIA, Friedlaender, Olesya Dmitracova Organizations: Washington CNN, Apple, Google, Union citizens, Big Tech, Spotify, Netflix, Digital Markets, Meta, Microsoft, European Commission, EU, YouTube, Epic, Consumer, Tech, Games, CNN, Computer, Communications Industry Association Locations: United States, Europe

The overhaul rolling out Thursday only in the Europe represents the biggest changes to the iPhone's App Store since Apple introduced the concept in 2008. Among other things, people in Europe can download iPhone apps from stores that aren't operated by Apple and are getting alternative ways to pay for in-app transactions. That came during testimony in a May 2021 trial resulting in a U.S. judge ruling that the App Store isn't a monopoly. In that decision, the judge required Apple to begin allowing links to outside payment options inside iPhone apps in the U.S. Apple still doesn't permit alternative iPhone app stores in the U.S. or more than 100 other countries outside the EU.

Persons: Apple, Tim Sweeney, Steve Jobs, Epic's Sweeney, ” Apple Organizations: Apple, Union, Digital Markets, Spotify, Epic, European Commission, U.S, Regulators, Google, Facebook, Apple Watch, Supreme, EU Locations: Europe, Apple’s, Sweden, U.S, It's

☆ America has never had a presumptive nominee like Donald Trump
▼ + stars: | 2024-03-06 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump has put America on notice – his second term would be even more disruptive and turbulent than his first. He’s portraying America as a dystopian, failed state overwhelmed by lawlessness, urban blight and slipping toward World War III abroad. For Trump, America is not Ronald Reagan’s “shining city on a Hill.” It is a banana republic. Who are these people that would ruin our country?” Trump asked. After Trump demoralized US allies in his first term, Biden has reinvigorated and expanded NATO in responding to Russia’s invasion of Ukraine – an illegal land grab Trump suggests he will reward.

Persons: Donald Trump, Joe Biden, Nikki Haley, –, Trump, he’s, conflating, “ We’re, we’re, ” Trump, Ronald Reagan’s “, “, ”, quagmire –, Biden, chillingly, reedy, ” Biden, Grover Cleveland, He’s, Haley, Robert F, Kennedy Jr Organizations: CNN, Republican, GOP, Carnage, Trump, Justice Department, Capitol, Wednesday, White House, Democrat Locations: America, Ukraine, Florida, ”, Manchester , New Hampshire, Super, United States, NATO, Michigan, Arab, Gaza

☆ Why Australia keeps an arm’s length from South China Sea tensions, even as it draws closer with the Philippines
▼ + stars: | 2024-03-04 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +8 min

CNN —When Philippine President Ferdinand Marcos Jr. addressed the Australian Parliament last week there was no mistaking the fighting talk. The Philippines accused China's coast guard of setting up the barrier at the mouth of the disputed fishing ground. That meeting will also be attended by several other nations with territorial disagreements with China – including Vietnam, Brunei and Malaysia. Collin Koh, research fellow at the S. Rajaratnam School of International Studies in Singapore, said Australia was unlikely to back any tough language at the summit pertaining to the South China Sea or any other hot-button issue. As Bisley put it, “We don’t like what China does, but we’re not going to put ourselves in harm’s way.”

Persons: Ferdinand Marcos Jr, ”, Marcos, Rodrigo Duterte, –, Thomas Shoal, David, China’s, Marcos ’, China –, Scott Morrison, Collin Koh, Penny Wong annouced, Anthony Albanese, Albanese, Lukas Coch, Susannah Patton, it’s, ” Patton, China’s aggressions, Wang Wenbin, Nick Bisley, Bisley, we’re Organizations: CNN, Maxar, Association of Southeast Asian Nations, ASEAN, China, Rajaratnam, of International Studies, Australia, Australian, Partners, Reuters, South China, Southeast Asia, Lowy Institute, China’s Ministry of Foreign Affairs, La Trobe University Locations: Philippines, China, South China, Manila, China’s, Philippine, Scarborough, Scarborough Shoal, Hague, United States, Canberra, Australia, Melbourne, Vietnam, Brunei, Malaysia, Beijing, Singapore, South, Penny Wong annouced Canberra, Southeast Asia, Japan, India

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