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☆ Every country needs an Inflation Reduction Act
▼ + stars: | 2023-11-23 | by ( Antony Currie | ) www.reuters.com time to read: +9 min

REUTERS/David Gray/File Photo Acquire Licensing RightsMELBOURNE, Nov 23 (Reuters Breakingviews) - Lawmakers in South Korea blasted the U.S. Inflation Reduction Act as a betrayal. Yet concerns about market distortion from the policy intended to stimulate investment in the energy transition and signed into law by President Joe Biden in August 2022 are easing. The Biden administration’s willingness to negotiate on its package of $370 billion of tax breaks and other measures has helped. Reuters GraphicsTrouble is, governments also need to show that they will be fiscally responsible stewards of the energy transition in the short term – especially with inflation still a threat and budgets under pressure. In a speech on Nov. 2 about enabling Australia’s energy transition, Treasurer Jim Chalmers said that “incentives like the type we’ve seen in the Inflation Reduction Act in the United States can be part of an answer but they’re not the whole answer”.

Persons: David Brockwell, David Gray, Australia’s Fortescue, FMG.AX, Joe Biden, Biden, –, Goldman Sachs reckons, ’, Uncle Sam, Fumio, Jim Chalmers, they’re, Chalmers, Una Galani, Thomas Shum Organizations: REUTERS, Rights MELBOURNE, Reuters, Australia, Washington, European, of America, Labor Energy Partnership, U.S, Canberra, Climate Energy Finance, Climate Capital Forum, Deloitte, National Australia Bank, quicken, Thomson Locations: Lake George, Canberra, South Korea, United States, Seoul, European Union, U.S, Japan, Washington, EU, Australia

☆ Dutch shock points to tremors in Europe’s core
▼ + stars: | 2023-11-23 | by ( Rebecca Christie | ) www.reuters.com time to read: +4 min

Dutch far-right politician and leader of the PVV party, Geert Wilders speaks to the press following the exit poll and early results in the Dutch parliamentary elections, in The Hague, Netherlands November 22, 2023. The results add to the sense that Europe’s core is starting to rot. Even if Wilders drops his most radical ideas, mainstream conservatives, who won 24 seats, may have reservations about supporting his cause. The Dutch results, combined with German political turmoil, likely put paid to hopes of a deal on Europe’s fiscal rules by year-end. Europe’s core, the bloc’s lynchpin during the euro zone crisis, is now a shaky foundation.

Persons: Geert Wilders, Yves Herman, Mark Rutte, Wilders, won’t, Giorgia Meloni, ’, Rutte, Neil Unmack, Streisand Neto Organizations: REUTERS, Rights, Reuters, EU, Party, Freedom Party, Labour, Italian, Green, People’s Party for Freedom and Democracy, Thomson Locations: The Hague, Netherlands, Rights BRUSSELS, Wednesday’s, Hague, Europe, Ukraine, Israel, France, Germany, Dutch, Belgium

Ukrainian forces say they have have “gained a foothold” on the left (eastern) bank of the Dnipro River in southern Ukraine. In March, EU member states agreed to provide Ukraine with 1 million rounds of artillery ammunition for Ukraine to be delivered within 12 months. Both Ukraine and Russia need to replenish extraordinary amounts of ammunition as a grinding war of attrition continues in Ukraine’s east and south. Sergei Khadzhikurbanov, pictured in court in 2014, has received a presidential pardon after doing a stint fighting in Ukraine. The visit was previously unannounced and comes amid concerns that the Israel-Gaza conflict will divert international attention from the war in Ukraine.

Persons: “, Vladimir Saldo, Pilipey, Saldo, ” Boris Pistorius, Pistorius, Josep Borrell, Dimitar Dilkoff, Anna Politkovskaya, Vladimir Putin, Sergey Khadzhikurbanov, Politkovskaya, Khadzhikurbanov’s, Alexey Mikhalchik, Putin, ” Mikhalchik, Khadzhikurbanov, ”, Sergei Khadzhikurbanov, Pavel Golovkin, David Cameron, Zelensky, ” Cameron, Cameron, ” Cameron –, Alexandra Skochilenko, Skochilenko “ Organizations: CNN —, Defense Forces, CNN, South Korea’s National Intelligence Service, Getty, Novaya Gazeta, Russian Ministry of Defense, Khadzhikurbanov, AP, Armed Forces, Russian Federation Locations: CNN — Ukraine, Dnipro, Kyiv, Germany, Ukraine, Kherson, Russia, Russian, AFP, Krynky, Crimea, Brussels, EU, Ukraine’s, South, North Korea, Moscow, British, Israel, Gaza, St, Petersburg, St . Petersburg, Skochilenko

“It can be assumed that the 1 million rounds will not be reached,” Boris Pistorius said ahead of an EU defense ministers meeting in Brussels. In March, EU member states agreed to provide Ukraine with 1 million rounds of artillery ammunition for Ukraine to be delivered within 12 months. The US has also been ramping up ammunition production to supply Ukraine. Ukraine’s Foreign Minister Dmytro Kuleba said Kyiv urgently needed the EU to ramp up its ability to supply ammunition for the Ukrainian military. Ukraine is “ringing the bells a lot and loudly” over EU ammunition supply, he said on national television on Monday night.

Persons: ” Boris Pistorius, Pistorius, Josep Borrell, Borrell, Boris Pistorius, Omar Havana, Dmytro Kuleba, “, ”, ” Nick Witney, Tom Waldwyn, Waldwyn Organizations: CNN, EU, German, South Korea’s National Intelligence Service, Ukraine’s, European Council, Foreign Relations, International Institute for Strategic Studies Locations: Ukraine, Kyiv, Russia, Brussels, EU, Ukraine’s, South, North Korea, Europe

☆ The West could live with a frozen Ukraine conflict
▼ + stars: | 2023-11-13 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

Ukraine may be heading for a similarly frozen conflict with Russia. So a frozen conflict would help the West achieve – at least partly – its key geostrategic aim: to show hostile powers that it doesn’t pay to invade one of its friends. In a frozen conflict, Ukraine would still need to invest heavily in massive fortifications, anti-missile defence systems and technology to deter Russian attacks. ECONOMIC WARIn a frozen conflict, sanctions against Russia would probably remain more or less in place. REBUILDING UKRAINEIt will be harder to rebuild Ukraine’s infrastructure in a frozen conflict than if there was peace.

Persons: Nuzhnenko, Vladimir Putin, Putin, Valery Zaluzhny, Volodymyr Zelenskiy’s, Joe Biden, Donald Trump, Tim Ash, Peter Thal Larsen, Thomas Shum Organizations: Ukraine's National Guard Omega, Radio Free, Radio Liberty, REUTERS Acquire, Reuters, Moscow, Hamas, U.S, EU, International Monetary Fund, Kremlin, Investors, BlueBay Asset Management, Soviet, Cyprus, European Commission, West, Thomson Locations: Avdiivka, Ukraine, Donetsk region, Radio Free Europe, Korea, Cyprus, Russia, Kyiv, –, Israel, United States, Moscow, North Korea, Iran, Russian, UKRAINE, West Germany, Soviet Union

Meanwhile, a blast in Russian-occupied territory in Luhansk, eastern Ukraine, killed a pro-Moscow official, with a Ukrainian intelligence agency taking credit for the assassination. The Black Sea frontUkrainian Defense Intelligence (GUR) claimed it hit two small Russian naval vessels in the Black Sea on Friday, its latest display of Ukraine’s ability to hit Russian targets in occupied Crimea. “Two Russian landing craft have been hit with Ukrainian sea drones near Chernomorske, Crimea,” Andriy Yusov, a representative of GUR, said in comments to CNN. Ukraine Defence Intelligence released grainy, grayscale video showing what it claims is the moment of its srikes on Russian navy vessels in the Black sea. Kyiv has also focused on breaking Russia’s dominance in Ukraine’s territorial Black Sea waters.

Persons: GUR, ” Andriy Yusov, Vlada, Oleksandr Tarnavskyi, Mikhail Filiponenko, Igor Kornet, Ursula von der Leyen, John Thys, Volodymyr Zelensky, ”, Ursula von der, “ Organizations: CNN, Moscow, Ukrainian Defense Intelligence, CNN . Defence Intelligence, Ukraine Defence Intelligence, Ukrainian Ministry of Defense CNN, Liberian, Operational Command, UN, Police, Getty, Tavria, Forces, Ukraine’s Defense Intelligence, People’s Militia, Luhansk People’s, Defense Intelligence, Russian, European Union, EU, NATO Locations: Ukraine, Russia, Ukraine’s, Crimea, Luhansk, Ukrainian, “, Chernomorske, ”, Russian, Kyiv, Moscow, Odesa, Avdiivka, Donetsk, Luhansk People’s Republic, AFP, Europe

UNITED NATIONS (AP) — Latvia’s president says Russia is planning for a long war in Ukraine and he has a message for countries wavering on continuing military support to Kyiv: Keep supplying arms or the Ukrainians will lose and Russia will have a green light for threatening others in the future. In July, Rinkēvičs was sworn in as president of Latvia, which was part of the Soviet Union until its break-up in August 1991. He said it is important for the West to support both Ukraine and Israel against attacks on “our values” and the international order. Rinkēvičs said the EU and NATO need to prepare for a long war in Ukraine. Many experts and officials have said Russian President Vladimir Putin’s hope is to outlast Western support for Ukraine in a long war.

Persons: —, Edgars Rinkēvičs, Russia’s Wagner, Rinkēvičs, ”, “, ” Rinkēvičs, Volodymyr Zelenskyy’s, Vladimir Putin’s, “ Let’s, let’s Organizations: UNITED NATIONS, Associated Press, European Union, NATO, Russia, Russia’s, Gaza Health Ministry, EU, Ukraine, Security Locations: Russia, Ukraine, Kyiv, Europe, Africa, Gaza, Israel, Latvia, Soviet Union, Baltic, EU, Iran, It's, Moscow, ” Ukraine, United State, Asia, Taiwan, Latvian, United States, Nazi Germany, New York

☆ These luxury stocks won't lose their luster even as sales growth slows to pre-pandemic levels
▼ + stars: | 2023-11-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +13 min

After three years of record growth, luxury companies are feeling the pain as sales slow to a more normal pace. Nowhere have the struggles of the luxury sector been more prominent than in the French conglomerate LVMH Moet Hennessy Louis Vuitton , the group's bellwether. This dynamic tends to hurt the less-prestigious luxury brands more, according to Rogerio Fujimori, an analyst at Stifel. "Chinese [consumers] are back to Southeast Asia and Japan, but there's still a long way to go in terms of Europe. LVMH and other European luxury brands have been market leaders among European equities since 2021 until the first half of 2023.

Persons: Richemont, Burkhart Grund, LVMH Moet Hennessy Louis Vuitton, Gucci, Ashley Wallace, Bernstein, Luca Sola, Rogerio Fujimori, Fujimori, Wallace, Stifel's Fujimori, there's, Richemont's Grund, —, Fujimori foresees, we've, Hermes, Brunello, Thomas Chauvet, Louis Vuitton, Brunello Cucinelli, LVMH, Dior, Markus Hansen, Hansen, America's Wallace, It's, Vontobel's Hansen, — CNBC's Michael Bloom Organizations: Cartier, Bank of America, U.S, U.S ., EU, Europe, Citi, Bank, Gucci, Bottega Locations: U.S, Europe, Japan, China, Southeast Asia, China's, Thursday's, Kering

☆ EU fine-tunes plan to launch Galileo satellites on SpaceX
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +2 min

A Falcon 9 rocket lifts off on NASA's SpaceX Crew-7 mission, taking four crew members to the International Space Station (ISS), from the Kennedy Space Center in Cape Canaveral, Florida, U.S., August 26, 2023. REUTERS/Steve Nesius/File Photo Acquire Licensing RightsNov 7 (Reuters) - The European Union has struck a tentative deal to launch four Galileo navigation satellites using Falcon 9 rockets of U.S.-based SpaceX, European officials said on Tuesday, in the latest sign of pressure caused by a gap in European launch capacity. The agreement spans two launches pencilled in for April and July next year, carrying two satellites each, EU Internal Market Commissioner Thierry Breton told reporters in Seville, Spain, following EU ministerial talks on competitivity in space. Breton told a news conference the provisional contract with SpaceX was worth 180 million euros ($191.99 million). The 22-nation European Space Agency, which includes most EU states, last year turned to Elon Musk's SpaceX to launch its Euclid space telescope to survey evidence of dark matter and dark energy in the universe.

Persons: Steve Nesius, Thierry Breton, Breton, Elon, Tim Hepher, Mark Potter, Barbara Lewis Organizations: SpaceX, International Space, Kennedy Space Center, REUTERS, European, Galileo, Internal, U.S, Global, Russian Soyuz, European Space Agency, Thomson Locations: Cape Canaveral , Florida, U.S, Seville, Spain, Italian, Russian, Ukraine, Europe

☆ Europe is at an impasse over fiscal reform — and Italy's bond market may have the most to lose
▼ + stars: | 2023-11-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

The 27 member states of the EU have been at odds over new debt rules for several months. "Higher perceived risk of a return to old, stringent fiscal rules forcing a faster deficit reduction would worsen medium-term growth expectations for the EU, weighing on the euro. The old rulesEuropean member states have had to comply with fiscal rules that require they respect a 60% debt-to-GDP threshold and a public deficit of 3%. In 2020, the fiscal rulebook was frozen so member states could deviate from their fiscal targets and spend on pandemic-related matters, such as protecting jobs. And with Russia's invasion of Ukraine in 2022, the fiscal rules were kept on hold because governments were faced with new energy costs and inflationary pressures.

Persons: Giorgia Meloni, Antonio Masiello, Davide Oneglia, Oneglia, Goldman Sachs Organizations: Italian, Getty, European Union, Lombard, Goldman, European Commission Locations: Italy, Ukraine

☆ COP28 chief, groups, urge tripling renewable capacity by 2030
▼ + stars: | 2023-10-30 | by ( Yousef Saba And Kate Abnett | ) www.reuters.com time to read: +2 min

ABU DHABI, Oct 30 (Reuters) - The presidency of next month's COP28 climate summit and two renewable energy organisations on Monday urged governments to triple renewable energy capacity by 2030 as part of efforts to stop global warming exceeding 1.5 degrees Celsius. Renewable energy capacity needs "to reach more than 11,000 GW" by 2030, the United Arab Emirates' COP28 presidency, the International Renewable Energy Agency (IRENA) and the Global Renewables Alliance said in a joint report. Group of 20 nations, among them China, the United States and India, agreed in September to pursue efforts to triple global renewable energy capacity by 2030. However, striking a deal among the nearly 200 countries that attend COP28 meetings will not be easy. They say a renewable energy deal at COP28 must be paired with a commitment to phase out CO2-emitting fossil fuels - a pledge that has faced resistance from Saudi Arabia, Russia and other fossil fuel-reliant economies.

Persons: IRENA, Wopke Hoekstra, al, Jaber, Yousef Saba, Kate Abnett, Deborah Kyvrikosaios Organizations: United Arab, International Renewable Energy Agency, Global Renewables Alliance, Thomson Locations: ABU DHABI, Dubai, Paris, United Arab Emirates, China, United States, India, Saudi Arabia, Russia, Brussels

BRUSSELS (AP) — It was a good thing Ukrainian Prime Minister Volodymyr Zelenskyy had his videoconference address to the European Union summit pre-slotted for the opening session. They didn't come back to the issue of Russia's war in Ukraine again before Friday's closing day of the summit. With Ukraine funding in jeopardy in the U.S. Congress, Zelenskyy is looking to leave the financial lifeline to Europe open. “If we don’t help Ukraine, then what is the alternative, really,” Estonian Prime Minister Kaja Kallas said. Why do you think that you’re safe then?”Irish Prime Minister Leo Varadkar has the answer.

Persons: Volodymyr Zelenskyy, Mike Johnson, Robert Fico, Viktor Orbán, Orbán, ” Orbán, Anton Siluanov, Zelenskyy, “, ”, Boris Pistorius, Kaja Kallas, Leo Varadkar, Putin, ” ___ Geir Moulson, Sylvie Corbet, Justin Spike Organizations: Ukrainian, European Union, EU, U.S ., Ukraine, Russian, U.S . Congress, IRIS, ” Locations: BRUSSELS, Israel, Ukraine, Moscow, Europe, EU, Slovak, Germany, France, Slovakia, neigboring Hungary, Zelenskyy, Kyiv, Russian, United States, Brussels, Estonian, Russia, Berlin, Paris, Budapest, Hungary

☆ Green Steel Is Coming. Europe Is Leading the Charge Thanks to New Carbon Taxes.
▼ + stars: | 2023-10-26 | by ( Yusuf Khan | ) www.wsj.com time to read: +7 min

The need for conversion to low-carbon steel production is greater in Europe, where 57% of steel is produced in coal-fired blast furnaces. Swedish-based startup H2 Green Steel has signed deals to supply low-carbon steel to IKEA, Mercedes-Benz , BMW and Scania. Customers of H2 Green Steel have been willing to support the project based on their own green targets and their end-customers’ willingness to pay a green premium, he said. H2 Green Steel said it would charge a €150 premium, while Swedish steelmaker SSAB expects to charge double that. Research from the Rocky Mountain Institute suggests the IRA will encourage green steel investments that would, by 2030, produce about eight million tons of low-carbon steel, or nearly 10% of U.S. steel demand.

Persons: fabian strauch, ”, Colin Richardson, incentivizing, CBAM, Nicola Davidson, Davidson, Henrik Henriksson, Mikael Sjoberg, ” Henriksson, Gunnar Güthenke, SSAB, Europe ”, Simone Tagliapietra, Paul Lim, ” Lim, Yusuf Khan Organizations: Leadership Group, Industry, Argus Media, Rocky Mountain Institute, U.S ., Business, International Energy Agency, Investments, Steel, IKEA, Mercedes, Benz, BMW, Scania, H2, Bloomberg, Research, Europe, Bruegel, U.S Locations: Europe, U.S, Brussels, London, European, Lakes , Texas, Pacific, China, Asia

[1/4] A view of the turbines at an offshore wind farm near Nysted, Denmark, September 4, 2023. Time is short: The EU has a legally binding goal to nearly double renewable sources as a share of total energy by 2030, to 42.5%, requiring a rapid expansion of offshore wind. But of the governments surveyed, only Britain and Poland said they had invested or budgeted for steps to improve the security of offshore infrastructure. It requires a lot of effort from the government side," said Mattia Cecchinato, senior adviser for offshore wind at WindEurope. It said it would establish a permanent coast guard base close to where offshore wind farms are planned.

Persons: Tom Little, Thomas Almegaard, Vladimir Putin, Mads Nipper, Orsted, Ewa Skoog Haslum, James Appathurai, Germany's RWE, Anitta, Mattia Cecchinato, Rasmus, Krzysztof Jaworski, Orsted's Errboe, Benjamin Mallet, Riham, Elizabeth Piper, Toby Sterling, Andrius Sytas, Marek Strzelecki, Sara Ledwith Organizations: REUTERS, Reuters, Baltic Seas, EU, NATO, NewNew, Sweden's, Soaring, Emerging, Research, Solutions, Internal, Fund, Military, Naval Operations Centre, Polish Navy, Thomson Locations: Nysted, Denmark, Europe, Baltic, Nord, Finland, Sweden, Estonia, Russian, Russia, NewNew Shipping, Netherlands, Britain, Poland, Germany, North, Swedish, Copenhagen, Moscow, Sofia, European, Anitta Hipper, Belgium, Norway, France, Lithuania, Latvia, Baltic . Poland, Paris, Berlin, London, Amsterdam, Vilnius, Warsaw

BUDAPEST, Hungary (AP) — Prime Minister Viktor Orbán compared Hungary's membership in the European Union to more than four decades of Soviet occupation of his country during a speech on Monday commemorating the anniversary of Hungary's 1956 anti-Soviet revolution. Yes, it happens that history repeats itself,” Orbán said at the event, from which all media were excluded except Hungary's state media. “We had to dance to the tune that Moscow whistled,” Orbán said of Hungary's days in the Eastern Bloc. On Monday, Orbán said that while the Soviet Union had been “hopeless,” he believed that governance in the EU could be reformed through an European Parliament election scheduled for June 2024. “Moscow was irreparable, but Brussels and the European Union can still be fixed,” he said.

Persons: Viktor Orbán, Orbán, ” Orbán, “, ”, Vladimir Putin’s, Putin Organizations: —, European Union, “, Soviet, Red Army, Eastern Bloc, NATO Locations: BUDAPEST, Hungary, Soviet, Veszprem, Brussels, Moscow, Hugnary's, Budapest, Ukraine, Beijing, United States, “ Hungary, Russia, Soviet Union, “ Moscow

☆ My startup's AI tool is helping Ukraine on the battlefield
▼ + stars: | 2023-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +6 min

He explains how Ukraine is using the company's AI tool to streamline intelligence gathering. The world before February 24, 2022 was a difficult place for defense tech startups. But since Russia's invasion of Ukraine there's been a paradigm shift. Now, my company, SensusQ, is applying the AI revolution to the defense sector and helping Ukraine on the battlefield. AdvertisementAdvertisementThe SensusQ AI system collates intelligence from multiple sources.

Persons: Erik Kannike, Kannike, —, Ukraine there's, James Bond, There's, they're, Europe There's Organizations: Service, NATO, intel, Spotify, Anadolu Agency Locations: Estonian, Ukraine, Estonia, Russia, Europe, Ukrainian

☆ Israel’s fossil fuel boon becomes less clear-cut
▼ + stars: | 2023-10-19 | by ( Yawen Chen | ) www.reuters.com time to read: +5 min

LONDON, Oct 19 (Reuters Breakingviews) - Israel’s growing gas sector has a significance that extends east and west. Analysts at Israel’s Bank Leumi had estimated that exports would jump to at least 11 bcm this year. Israel’s 1,087 bcm of gas reserves in 2022 yielded 21 bcm of production, of which 9 bcm was exported, with a doubling of exports to Israel’s main market, Egypt. Still, Israel’s gas sector has gone from a helping hand to a potential headache. Follow @ywchen1 on XCONTEXT NEWSDutch TTF Natural Gas Futures, Europe’s benchmark gas index, were trading at 48 euros per megawatt hour as of 0823 GMT on Oct. 19.

Persons: –, Yair Lapid, Israel’s Bank Leumi, It’s, NewMed, Abraham, Gaza’s, Isabel Dotzenrath, George Hay, Streisand Neto Organizations: Reuters, United, United Arab Emirates, Israel’s Bank, LNG, Abu, Abu Dhabi National Oil Company, NewMed Energy, Abraham Accords, BP, Natural Gas Futures, Intercontinental Exchange, Chevron, Mediterranean Gas, Oil, Energy, Thomson Locations: United Arab, Israel, Europe, Russia, Egypt, Brussels, Abu Dhabi, Ahli, ’, Jihad, Gaza, Jordan, Denver

That adds to tech-related tensions between the West and China, which is one of Europe’s biggest trading partners and the world’s biggest auto market. Chinese EV makers are drawn to Europe because auto import tariffs are just 10% versus 27.5% in the U.S., independent auto analyst Matthias Schmidt said. MG — owned by SAIC Motor, China’s biggest automaker — is the largest Chinese EV player in Europe. One reason Chinese companies can offer high-quality cars at affordable prices stems from the rules to enter the Chinese market. Chinese EV makers, meanwhile, are trying to stand out in a crowded field.

Persons: Laima Springe, Janssen, “, ” Springe, I’m, ”, Matthias Schmidt, John Kirkwood, —, Kirkwood, Warren Buffett, Ursula von der Leyen, Alfa, China’s EVs, Carlos Tavares, we’re, Alexander Klose, ” Klose, Schmidt, Justin Nicholls, Nicholls Organizations: Volvo, Nissan, Skoda, Union, EV, Volkswagen Passat, Kia, MG, SAIC Motor, China’s, —, Lotus, Chinese Commerce Ministry, EU, World Trade Organization, Tesla’s, Peugeot, Citroen, Alfa Romeo, Fiat, Global, Wall Motors Locations: Copenhagen, Denmark, Europe, China, West, U.S, British, Western, France, Germany, Beijing, Shenyang, Shanghai, Israel

☆ EU Leaders Warn That Kremlin Seeking to Exploit Israel-Gaza Crisis to Its Advantage
▼ + stars: | 2023-10-17 | by ( ) www.wsj.com time to read: 1 min

The European Union’s two top officials warned that Russia is seeking to take advantage of the conflict between Israel and Gaza, using it to claim double standards in the West about respect for international law. European Council President Charles Michel said that underscored why it was important for European governments to urge Israel to act carefully in its military response to the Hamas attack, just as they have pointed to Russia’s breach of international law in attacking Ukraine.

Persons: Charles Michel, Israel Locations: Russia, Israel, Gaza, Ukraine

☆ EU seeks to ease US tariff, green subsidy threats
▼ + stars: | 2023-10-16 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +2 min

Washington has asked Brussels to move against Chinese steel producers in particular in return for avoiding the re-imposition of Trump-era tariffs on EU steel and aluminium, with an end-October deadline to reach an agreement. Those subsidies, largely in the IRA, have irked EU countries because they contain local content requirements. Half of the tax break is reliant on extraction of processing of critical minerals taking place in a country with which the United States has a free trade agreement. The EU is hoping that the summit will also yield an agreement on critical minerals - cobalt, graphite, lithium, manganese and nickel - that would benefit EU suppliers. EU exports to the United States of these minerals or products principally containing them totalled 3.5 billion euros ($3.7 billion) in 2022, Eurostat data shows.

Persons: Joe Biden, Ursula von der Leyen, Charles Michel, Philip Blenkinsop, Lisa Shumaker Organizations: European Union, Trump, U.S, European Commission, European Council, Washington, WTO, Thomson Locations: BRUSSELS, Ukraine, Brussels, China, United States, U.S, North America, EU

The EU is typically one of the most ambitious negotiators at the annual United Nations climate talks, where nearly 200 countries negotiate efforts to fight global warming. A central decision will be whether countries at the COP agree for the first time to phase out fossil fuels. EU countries must agree their negotiating position unanimously, meaning one government can block it. EU countries opposing a full phase-out include poorer nations who fear the impact of weaning their economies off fossil fuels. The brackets around "unabated" indicate EU countries have not yet agreed on the word.

Persons: Rula, EU's, Kate Abnett, Jan Strupczewski, Emelia Organizations: Abu Dhabi Sustainability, REUTERS, Union, EU, United Nations, Reuters, Thomson Locations: UAE, Abu Dhabi, BRUSSELS, United, Dubai, Denmark, France, Germany, Ireland, Netherlands, Slovenia, Czech Republic, Hungary, Italy, Malta, Poland, Slovakia, Saudi Arabia

☆ Poland's elections this weekend could mark a crossroad for EU solidarity — and Ukraine support
▼ + stars: | 2023-10-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

The Leader of Civic Coalition Party, Donald Tusk delivers a speech during the Women for Elections Campaign rally on October 10, 2023 in Lodz, Poland. EU tiesLaw and Justice's leadership has seen Poland's relationship with the EU and its various institutions become increasingly strained. It resulted in Morawiecki saying last month that his country would no longer supply weapons to Ukraine as it was "now arming Poland." Poland's vote follows elections in neighbor Slovakia which saw populist former Prime Minister Robert Fico return to power. Hungary's firebrand rightwing Prime Minister Viktor Orbán has persistently used inflammatory language regarding the EU, attacking it repeatedly on social media.

Persons: Donald Tusk, Omar Marques, Tusk, —, Jaroslaw Kaczynski, Mateusz Morawiecki, Morawiecki, Robert Fico, Fico, Viktor Orbán Organizations: Civic Coalition Party, Women, Elections, Getty, European Union —, rightwing Law, Justice, Civic Coalition, European, Law, EU, Nurphoto, Consultancy Eurasia Group, Eurasia Group, Confederation, Ukraine, ING, U.S, NATO, rightwing, European Union Locations: Lodz, Poland, Ukraine, Krakow, Berlin, Brussels, Slovakia, Russia, rightwing, Hungary, Germany

☆ Next EU chief will need cash more than trade wars
▼ + stars: | 2023-10-10 | by ( Rebecca Christie | ) www.reuters.com time to read: +8 min

What she sidestepped was how to find more cash and convince member states to pay up. Von der Leyen, or her successor, will have to figure out how to pay for enlargement. Von der Leyen tapped into trade frustrations with her pledge to investigate and possibly punish Chinese subsidies for car and battery makers. During her first term, von der Leyen succeeded in connecting the EU with bond investors via the 800 billion euro NextGenerationEU borrowing programme. A second term will require even more finesse to convince EU member states to raise money not just from markets, but from themselves.

Persons: Ursula von der, European Union won’t, der, von der Leyen’s, Greens –, der Leyen, Emmanuel Macron, Thierry Breton, Norway’s Jens Stoltenberg, Von der, Carlo Bastasin, Von der Leyen, von der Leyen, sceptics, Ursula von der Leyen, Charles Michel’s, Jens Stoltenberg’s, Francesco Guerrera, Streisand Neto, Thomas Shum Organizations: Reuters, European Union, Bank, EU, European Commission, Socialists, Greens, NATO, Reuters Graphics Reuters, Brookings, handouts, Organisation for Economic Co, Transport, Environment, Thomson Locations: BRUSSELS, Ukraine, Moldova, Western, Brussels, Germany, Bosnia, Herzegovina, Montenegro, Serbia, Albania, North Macedonia, Kosovo, Turkey, Georgia, Spain, Poland, United States, China, Ireland, Netherlands, EU, EU’s, Hungary

☆ Analysis: Putin banks on wavering support for Ukraine, amid a race against time
▼ + stars: | 2023-10-08 | by ( Nathan Hodge | ) edition.cnn.com time to read: +8 min

Last week, President Joe Biden signed into law a stopgap bill to avert a government shutdown, but funding for Ukraine was a casualty of the brinksmanship on Capitol Hill. The Biden administration emphasizes that that the American public’s support for Ukraine remains strong. Ukrainian President Volodymyr Zelensky walks down the White House colonnade to the Oval Office with President Joe Biden during a visit to the White House in Washington, DC, on September 21. In his remarks at Valdai, he clearly implied that Russia intends to outlast the West over Ukraine. Paraphrasing Putin, Mylovanov said that the Kremlin believes that “Ukraine will have one week left to LIVE once Western supplies are over.

Persons: Donald Trump, he’d, Vladimir Putin, Putin, ”, “, Joe Biden, Biden, Kevin McCarthy, Volodymyr Zelensky, Kevin Lamarque, —, Robert Fico, Fico, Ukraine —, Wolfgang Schwan, Rob Bauer, brazenly, Tymofiy Mylovanov, Putin’s Valdai, Mylovanov, Wagner Organizations: CNN, Kremlin, Ukraine, Capitol, White, Pentagon, of, Republican, Trump, European Union, NATO, Russia, Anadolu Agency, Warsaw Security, Royal Netherlands Navy, Committee, Kyiv School of Economics Locations: Ukraine, Ukrainian, Washington, Washington ,, United States, Europe, Slovakia, EU, Russian, Bakhmut, Russia, Siberia, Eastern Siberia, Valdai, West, Brussels, Hroza, Kharkiv, Ukraine’s

☆ Opinion: Washington’s turmoil plays right into Putin’s hands
▼ + stars: | 2023-10-05 | by ( Sheena Mckenzie | Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

In the meantime, a top NATO official warned that the arsenal for supporting Ukraine is running low. Europeans, contrary to the claims of demagogues running for president, are spending heavily to support Ukraine. Their meeting erupted in a round of applause for the Russian president, with delegates shouting “Putin! He voted against four of five bills supporting Ukraine as it sought to defend itself from a Russian invasion, which is now in its 20th month. Asked if Ukraine would be able to fight without US military support, 37-year-old Olha said, “Of course, we will fight — but it will be many times bloodier.”

Persons: Frida Ghitis, you’ve, Kevin McCarthy, McCarthy, Olha Hrubryna, she’s, ”, “, ” Volodymyr Kostiak, MAGA, Robert Fico, Rob Bauer of, Vladimir Putin, Dmitry Peskov, Putin, Donald Trump –, Josep Borrell, Joe Biden, Paul Krugman, Krugman, Trump, “ Putin, Oksana Markarova, Steve Scalise, Jim Jordan, firebrand Trump, he’s, Olha Organizations: CNN, Washington Post, Politics, Republican, Frida Ghitis CNN, House Democrats, Ukraine, Capitol, NATO, European Union, Pro, Royal Dutch Navy, Soviet Union, European, Republican Party, New York Times, Political, firebrand, GOP Locations: Ukraine, Washington, Kyiv, Ukrainian, Slovakia, Russian, China, Russia, United States, –, Europe

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