DIRS.INFO The most relevant business & tech news

REUTERS/Violeta Santos MouraCompanies Enagas SA FollowBARCELONA/LISBON, Dec 9 (Reuters) - An underwater pipeline to carry green hydrogen between Barcelona and Marseille will cost around 2 billion euros ($2.1 billion), according to preliminary estimates of the project agreed between Spain, Portugal and France, two sources told Reuters. Spain and Portugal aim to become clean hydrogen hubs and net energy exporters, causing tensions with France which plans to produce its own hydrogen using nuclear energy. The pipeline will only carry hydrogen in order to meet EU funding criteria, though "improvements" could be made in future to allow for some gas, a Spanish government source said. As a result, the industry source said, they have pushed their four grid operators to "speed up technical studies, potential pipeline layouts and cost assessments". "If you already have an overland pipeline why build an undersea pipeline?"

Feeling defiant, I told him, I will let the world know what you police are doing," said Pei, 27. He asked to be identified only by part of his name for fear of repercussions. China's Ministry of Public Security did not respond to a request for comment on the laws they might use against protesters. Zhang Dongshuo, a Beijing-based lawyer who has handled rights cases in the past, said the levels of punishment for protesting in China vary widely. "They just sprang up organically because people were driven by a sense of hopelessness and desperation about the never-ending COVID restrictions," Wu said.

His centre-left Social Democrats, the Greens and liberal Free Democrats, have had to wrangle to reach compromises, sometimes delaying decisions. Some European allies say the focus on domestic challenges and internal politicking have distracted Berlin from regional cooperation and especially the key German-French motor that traditionally drives the European Union. Relief measures worth hundreds of billions of euros have helped Scholz's coalition stave off serious social unrest due to soaring energy prices in the wake of the Ukraine war, but recent polls suggest it has lost its majority. MIXED MESSAGESTo be sure, Germany's allies have welcomed the Zeitenwende after years of warning the country of complacency on security. The government may for example not reach the NATO spending goal until 2025, a spokesman said this week.

"Oh FFS (for fuck's sake)," former Estonian president Toomas Hendrik Ilves said on Twitter, encapsulating the general feeling among many of France's eastern allies. The annoyance among eastern allies has undermined Macron's own policy agenda to beef up European "strategic autonomy" separate from the U.S.-led NATO umbrella, with eastern allies now trusting the United States more for their defence. An eastern European diplomat said Macron had "misread" Russia once and the fear was he would do so again. The backbone of Macron's foreign policy since 2017 has been to launch initiatives and go against the grain. However, an increasing number of critics and allies see his thrust on Russia as his major foreign policy mistake.

☆ His power secure at home, China’s Xi Jinping goes on a charm offensive abroad
▼ + stars: | 2022-12-06 | by ( Evelyn Cheng | Evelyn Cheng Is A News Associate With Cnbc. | ) www.nbcnews.com time to read: +5 min

BEIJING — Now that he has consolidated power at home, Chinese President Xi Jinping is stepping out onto the world stage to strengthen relations with the U.S. and other countries. Most recently, Xi hosted European Council President Charles Michel in Beijing on Thursday. In a speech at the party congress, Xi said the party has “safeguarded China’s dignity” in the face of international changes and warned of “dangerous storms” ahead. The following week, the countries’ military leaders met for the first time since Pelosi’s controversial Taiwan visit in August. Heads of Japan, South Korea, Australia, Indonesia and Italy met with both Xi and Biden in the last several weeks, based on government announcements.

☆ China's Xi has met with more than 25 world leaders since consolidating power at home
▼ + stars: | 2022-12-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

China's President Xi Jinping attends a session during the G20 Summit on the Indonesian resort island of Bali on November 16, 2022. BEIJING — A month after consolidating power at home, Chinese President Xi Jinping has stepped out onto the world stage to strengthen relations with the U.S. and other countries. Most recently, Xi hosted President of the European Council Charles Michel in Beijing on Thursday. "He met with leaders of advanced industrial democracies for the first time since the pandemic began and amid fraught relations between China and the West. Most of Xi's meetings fueled a positive outlook for stabilizing relations."

Persuading households that hoarded $1.9 trillion this year to spend will be far more difficult. Cities desperately want budgetary relief from expensive testing and quarantine enforcement mandates, and revive business investment and consumption. The question is how much of a boost combined efforts to relax zero-Covid and prop up the real estate sector will have. Yet a shopping boom seems unlikely, especially if China experiences a major outbreak as a result of looser controls. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Mbappé Carries France Over Poland and Into the World Cup Quarterfinals
▼ + stars: | 2022-12-04 | by ( Joshua Robinson | ) www.wsj.com time to read: 1 min

DOHA, Qatar—As Olivier Giroud drove home France’s opening goal in a 3-1 victory over Poland on Sunday, he took a moment to enjoy his newly acquired piece of soccer history. That strike into the far corner of the Polish goal was Giroud’s 52nd goal in a France jersey, making him the national team’s all-time top scorer. At 36, he finally sat top of a star-studded list that included Thierry Henry, Michel Platini and Zinedine Zidane. But Giroud knows that his time there could be fleeting—and he didn’t have to look far to see the man who might take that record from him next.

☆ China’s Xi Tells EU Delegation That Protests Reflect Covid Frustration
▼ + stars: | 2022-12-02 | by ( James T. Areddy | ) www.wsj.com time to read: 1 min

China’s leader, Xi Jinping , told a visiting European Union delegation that recent protests in the country reflected frustration about Covid controls and suggested the pandemic has entered a less deadly stage, according to European officials familiar with the situation. The comments by Mr. Xi, during a three-hour meeting in Beijing on Thursday with European Council President Charles Michel , are the first known responses by China’s leader to last weekend’s demonstrations on college campuses and streets around the country.

☆ China's Xi told EU less lethal Omicron opens way for fewer COVID restrictions
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

The senior EU officials, who asked not to be named, recounted the main points of a visit to Beijing by European Council President Charles Michel, who met Xi along with other senior EU officials on Thursday. The handling of the COVID pandemic and the protests against pandemic restrictions in recent days across more than 20 Chinese cities were among the topics raised by the EU. "I think that as a way out ... President Xi said that now COVID in China was mainly Omicron. EU officials said Michel told Xi that in Europe the focus of the first phase of the pandemic was very much on isolation, quarantine and testing, but it later shifted to vaccination. He added that Xi told the EU delegation that vaccination rates in China were high except for among the elderly, which was a challenge that caused the COVID restrictions.

☆ The U.S. wants the EU to be strict with China. But Europe can't afford it
▼ + stars: | 2022-12-02 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The United States has stepped up its heavy rhetoric against China, and wants Europe to follow suit. Reports suggested that American officials had told European counterparts to consider using export control restrictions on China. "While the U.S. is trying to pull the EU into its direction to distance itself from China, the EU is keen to maintain economic ties to China. This comes at a time when the relationship between the EU and U.S. is turning a little sour. The EU said this challenges international trade rules and is a threat to European companies.

☆ Analysis: Retailers turn to robots in cost inflation fight
▼ + stars: | 2022-12-01 | by ( James Davey | ) www.reuters.com time to read: +6 min

He estimates the retail industry is 40% automated, but sees that jumping to 60-65% over the next three to four years. The march of the robots can be seen in fashion stores and food shops globally as an industry that employs millions grapples with the cost of rising wages, energy and raw goods. While processes at online retailers are largely automated, vast parts of a traditional retailer's operations are still carried out manually, according to consultants at McKinsey. Looking at the fashion industry, McKinsey expects fashion companies to double investment in technology from 1.6% to 1.8% of their revenue in 2021 to between 3.0% and 3.5% by 2030. "Retailers are saying 'robots are the future,'" Michel Spruijt, Brain Corp's chief revenue officer, told Reuters, adding that the shift could "free up workers from tedious" tasks.

☆ Biden says he has no plans to contact Putin, prepared to talk about ending Ukraine war
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

"I have no immediate plans to contact Mr Putin," Biden said at a White House news conference after talks with French counterpart Emmanuel Macron. "I'm prepared to speak with Mr. Putin, if in fact there is an interest in him deciding he's looking for a way to end the war. Biden and Macron pledged their countries solidarity with Ukraine against Russia's war and vowed to work together to deal with the economic difficulties the conflict has brought. Biden put the onus on ending the war, which began with Russia's invasion of Ukraine in February, squarely on Putin. "There's one way for this war to end, the rational way: Putin could pull out of Ukraine, No.

☆ 'It's a work in progress.' How Covid has changed the life insurance marketplace
▼ + stars: | 2022-12-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +6 min

But for the life insurance industry, experts say the long-term effects aren't yet known. Faced with a staggering loss of life, insurance firms saw payouts soar during the pandemic. The demand for life insurance policies also jumped as consumers rushed to protect loved ones. Individual U.S life insurance application activity increased by 3.4% in 2021, following a record-breaking year-over-year growth of 3.9% in 2020, according to the MIB Life Index's 2021 annual report. However, the life insurance industry is still wrestling with mortality changes and how these shifts may affect the underwriting process.

☆ China hopes for fair, transparent environment for companies in EU - Xi
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +1 min

[1/7] European Council President Charles Michel attends a meeting with Chinese President Xi Jinping at the Great Hall of the People in Beijing, China December 1, 2022. European Union/Handout via REUTERSBEIJING, Dec 1 (Reuters) - China will strengthen strategic communication and coordination with the European Union, President Xi Jinping told the president of the European Council, Charles Michel, on Thursday. "China will remain open to European companies, and hopes the EU can eliminate interference to provide a fair and transparent business environment for Chinese companies," Xi told Michel. Xi said China and the EU should strengthen macroeconomic policy coordination and complementary advantages, jointly create new growth engines and ensure safety, stability, and reliability of industrial supply chains. His visit comes after European leaders expressed concern at a meeting in October about economic reliance on China.

The climate bill that favors domestic production could possibly restrict trade, European countries say. Europe's industry fears that the bill, which gives tax credit for each eligible renewable energy component produced in a U.S. factory, would take away potential investment from the continent. The IRA, which was signed into law in August, also provides a tax credit of 30% of the cost of new or upgraded factories that build renewable energy components. "We're going to continue to create manufacturing jobs in America but not at the expense of Europe," Biden said. Biden in August signed the $52.7 billion semiconductor chips manufacturing subsidy and research law, which subsidizes U.S. chip manufacturing and expands research funding.

[1/4] U.S. President Joe Biden and French President Emmanuel Macron walk next to a vehicle as they meet for dinner at Fiola Mare restaurant in the Georgetown neighborhood of Washington, U.S., November 30, 2022. REUTERS/Evelyn HocksteinWASHINGTON, Dec 1 (Reuters) - U.S. President Joe Biden and French President Emmanuel Macron will celebrate more than 200 years of U.S.-French relations on Thursday but simmering in the background is a dispute over new American subsidies that has riled Europe. Biden is hosting Macron at the first state visit since the U.S. leader took office in early 2021. Macron and his wife, Brigitte, arrived in Washington on Tuesday for his second state visit to the United States since taking office in 2017. Macron is the first foreign leader to be given a state dinner at the Biden White House, a sign of his importance to Washington despite some differences with the Biden administration.

☆ Huge trade partner and ‘systemic rival.’ Europe has a China problem
▼ + stars: | 2022-11-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

The Covid-19 pandemic, Russia’s invasion of Ukraine, and tit-for-tat sanctions between China and EU lawmakers have strained relations since. The total value of the goods trade between China and Europe hit €696 billion ($732 billion) last year, up by nearly a quarter from 2019. China was the third largest destination for EU goods exports, accounting for 10% of the total, according to Eurostat data. Even so, the United States may exert more pressure on Europe to pull away from China, Borges de Castro noted. EU investment into China has also become more concentrated.

☆ U.S. Inflation Reduction Act 'super aggressive,' Macron tells lawmakers
▼ + stars: | 2022-11-30 | by ( Michel Rose | ) www.reuters.com time to read: +5 min

WASHINGTON, Nov 30 (Reuters) - French President Emmanuel Macron addressed U.S. lawmakers from both political parties on Wednesday and pushed back over new American subsidies that are riling European leaders, according to a participant in a closed-door meeting. In a meeting with U.S. lawmakers at the Library of Congress, Macron said the act was "super aggressive" toward European companies, one participant told Reuters. [1/3] French President Emmanuel Macron and U.S. Vice President Kamala Harris hold a briefing during a visit to NASA headquarters in Washington, U.S., November 30, 2022. France joined the United States and several other nations in ruling out destructive, direct-ascent anti-satellite missile testing after Russia struck one of its own satellites in orbit last year, creating debris and drawing scorn from the United States and its allies. The United States, which last demonstrated such a missile in 2008, first announced its ban on the tests in April.

[1/2] French President Emmanuel Macron delivers a speech as he hosts a reception for the mayors of France, at the Elysee Palace, in Paris, France, November 23, 2022. The visit also highlights the unique way that Macron has raised France's profile on the world stage, and particularly in the United States. From Beirut to Bangkok, and from the Kremlin to the White House, he has sought to place himself at the center of every crisis, with a flair for seizing the moment. The White House defends the bill as necessary to boost the electric vehicle industry and other clean energy initiatives, saying subsidies play an important role. After Biden apologized publicly, Macron seemed less than mollified, saying "Trust is like love: Declarations are good, but proof is better."

☆ Azerbaijan cancels Armenia talks, says Macron cannot take part
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +3 min

Aliyev said Macron had "attacked" and "insulted" Baku and should not act as a go-between. Each side accused the other of triggering the latest bout of fighting, in which Armenia said Azerbaijan had seized settlements inside its borders. "Macron ... attacked Azerbaijan and accused us in what we haven't done," Aliyev said, speaking in English at a conference with international representatives in Baku. "It is clear that under these circumstances, with this attitude, France cannot be part of the peace process between Azerbaijan and Armenia." A spokesperson said Azerbaijan's assertion that Yerevan was trying to disrupt peace talks "has nothing to do with reality," the Interfax news agency reported.

More than a year after Washington, London and Canberra torpedoed a big French submarine contract, pushing Franco-US relations to breaking point, the two countries are expected to put on a show of unity on common threats from Russia and China. The French leader will try to negotiate exemptions for European companies on the model of those Mexico and Canada has already got, a French presidential adviser said. Macron wants France to build more nuclear reactors but it is struggling with corrosion issues at its ageing plants. Macron will also travel to Louisiana, ostensibly to pay tribute to the state's French heritage, but also to discuss energy issues, the French presidential advisor said. "The United States produce cheap gas but sell it to us at high price," Macron told French executives on November 8.

BRUSSELS, Nov 24 (Reuters) - European Council President Charles Michel will meet Chinese President Xi Jinping in China on Dec. 1 to discuss a range of global challenges including the war in Ukraine, tensions over Taiwan and EU concerns about imbalanced economic ties. The visit comes after European leaders jointly expressed concern at a meeting last month about economic reliance on China. Michel was likely to stress the need to rebalance the EU-China economic relationship and the importance of abiding by global trading rules. Since 2019, the European Union has regarded China more warily, describing it then as a partner, an economic competitor and a system rival. Reporting by Marine Strauss @StraussMarine, Benoit Van Overstraeten; Editing by Alex Richardson, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

☆ Macron hosts European CEOs to counter US move temptation
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +2 min

European leaders have been alarmed by massive anti-inflation measures passed by Joe Biden's administration, which make tax breaks conditional on U.S-manufactured content and which EU industries say make investment in Europe less competitive. Macron, who has called on the European Union to launch its own 'European Buy Act' to subsidise European production, has encountered resistance from the more anti-protectionist members of the bloc. It was unclear what Macron would tell the executives to convince them not to move to the U.S. But France has unveiled a number of measures over the weekend to cushion the impact of high energy bills for French companies. Reporting by Michel Rose Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

PORT-AU-PRINCE, Nov 20 (Reuters) - Canada has sanctioned former Haitian President Michel Martelly and two former prime ministers for financing gangs, Canadian authorities said on Sunday, the latest in a series of measures targeting alleged backers of Haitian criminal groups. In September, Haitian gangs created a humanitarian crisis by blocking a fuel terminal for nearly six weeks, halting most economic activity and triggering U.N. discussion of a possible foreign strike force to open the terminal. Canada and the United States have sanctioned political leaders who allegedly finance the gangs, which according to policy makers are backed by Haitian elites. Radio-Canada journalist Louis Blouin wrote on Twitter that the sanctions targeted Martelly, as well as former Haitian Prime Ministers Laurent Lamothe and Jean Henry Ceant. Ceant served as prime minister from 2018 to 2019.

Search resuls for: "Míchel"

25 mentions found