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☆ France's Macron seeks to show he's no lame duck as pension discontent rumbles on
▼ + stars: | 2023-06-08 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

France's President Emmanuel Macron looks on in a meeting with JP Morgan CEO during the 5th edition of the "Choose France" Business Summit, in Versailles, southwest of Paris, on July 11, 2022. Around 8,000 demonstrators took to the streets of Toulouse, France, on June 06, 2023, protesting against the government. "They know Macron has no alternative than to rely on them, making it almost impossible to develop the centrist domestic project," he said. This is largely attributable to Macron's agenda," Schmieding said, adding France was replacing Germany was the most dynamic major European economy. French President Emmanuel Macron and Chinese President Xi Jinping shake hands at a Franco-Chinese business council meeting in Beijing, China April 6, 2023.

Persons: Emmanuel Macron, Morgan, Ludovic Marin, Chancellor Olaf Scholz, Macron, Renaud Foucart, Foucart, Les Republicains, Mujtaba Rahman, Rahman, Bruno Le Maire, Elon Musk, Holger Schmieding, Schmieding, Xi Jinping Organizations: Business, Afp, Getty, Nurphoto, Lancaster University, Eurasia Group, Macron, Finance, EU, U.S, Elon Locations: Versailles, Paris, Germany, Union, Toulouse, France, China, Ukraine, Europe, Beijing

London generated $2 billion in venture capital funding in the first quarter of 2023, compared to Berlin's $800 million, a DEEP Ecosystems analysis of Dealroom data showed. Reuters Graphics Reuters GraphicsTOUGHER TIMESIn 2022, 501 startups were founded in Berlin, a fifth of Germany's total. About a fifth of openings at startups were vacant and more than half were struggling to fill posts, German Startups Association said. In Germany, it has been accompanied by the sharpest contraction in venture capital funding in Europe in the past 12 months, down 42%. The funding crunch is hitting Germany's push to encourage the growth of new renewables businesses, given manufacturing startups are particularly capital intensive.

Persons: Avitosh Sawhney, Christian, headwinds, Katharina Beck, Lindner, Maximilian Tayenthal, Christoph Stresing, Tobias Lechtenfeld, Chancellor Olaf Scholz's, Maria Martinez, Riham Alkousaa, Matthias Williams, Mark John, Edmund Blair Organizations: Wall, Greens, Reuters, Startup Heatmap, Reuters Graphics Reuters, Manpower, Association, European Central Bank, Tech, Zero Alliance, Free Democratic Party, Thomson Locations: Berlin, London, BERLIN, Paris, Germany, Europe

☆ Morning Bid: Plotting policy paths for Europe and the US
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

Jefferson said he favoured "skipping" a rate hike at the upcoming meeting and that term has started to displace "pause" among Fed officials. Some Fed watchers believe this conveys a slightly more hawkish nuance. Reuters Graphics Reuters GraphicsBets for ECB tightening have been knocked back, too, most recently by weaker-than-expected CPI data from Germany and France. Traders currently foresee slightly more than 50 basis points of ECB tightening left before an expected peak in January. That's a strong indication that the bill could get through the Senate before the weekend.

Persons: Kevin Buckland, Philip Jefferson, Jefferson, Christine Lagarde, That's, Edmund Klamann Organizations: Graphics Reuters, Traders, Reuters Graphics, U.S . House, Thomson Locations: Germany, France, Hanover, Britain, United States, Asia, Spain, Italy

☆ Queer people in history: Figures to know
▼ + stars: | 2023-06-01 | by ( Leah Asmelash | ) edition.cnn.com time to read: +7 min

To commemorate the month, CNN is highlighting five major LGBTQ elders – some who have passed on, and some who haven’t – highlighting their achievements. From a drag king who fought discrimination on the streets of New York to a famous mathematician who stood up to adversity despite legal limitations, here are five LGBTQ figures to know. Miss Major Griffin-GracyMiss Major in the film "Major," a documentary about her life and campaigns. But a year after Stonewall, Miss Major was arrested for robbery, landing her with a five-year prison sentence. Decades after her release, Miss Major spent time as the executive director of the Transgender Gender Variant Intersex Justice Project.

Persons: Bayard Rustin, Martin Luther King Jr, Patrick A, Burns, Rustin wasn’t, Rustin, King, Sen, Strom Thurmond, Gavin Newsom, Larry Kramer Larry Kramer, Catherine McGann, Larry Kramer, “, ”, Kramer, Anthony Fauci, Miss Major Griffin, Major, Marsha P, Johnson, Miss Major, Mama, Michelle V, Stormé DeLarverie, DeLarverie, White, “ That’s, Alan Turing, Alan Turing’s, Turing, it’s Organizations: CNN, New York Times Co, Getty, Southern Christian Leadership Conference, California Gov, Village Voice, AIDS, Centers for Disease Control, ACT UP, AIDS Coalition, National Institute of Allergy, Miss, Stonewall, New York Times, Physical Laboratory Locations: New York, India, Montgomery, Washington, Chicago, Greenwich, New Orleans, England

☆ As U.S. Races Ahead, Europe Frets About Battery Factory Subsidies
▼ + stars: | 2023-05-31 | by ( Jack Ewing | Melissa Eddy | ) www.nytimes.com time to read: +1 min

European leaders complained for years that the United States was not doing enough to fight climate change. Officials have been traveling there to court one of Europe’s few homegrown battery companies, Northvolt. Led by a former Tesla executive, Northvolt is a small player in the global battery industry, but European leaders are offering it hundreds of millions of euros to build factories in Europe. Mr. Habeck visited in February to lobby the company to push ahead on its plan to build a factory near Hamburg, Germany. The company had considered postponing to invest in the United States instead.

Persons: Biden, Robert Habeck, Northvolt, Habeck Organizations: Northvolt, Tesla Locations: United States, Germany, France, Britain, China, South Korea, Vasteras, Stockholm, Europe, Hamburg

Japan's insistence on continuing to rely on gas may delay reaching global climate change goals, especially as its energy companies reap large profits from their investments in the sector, climate activists say. "But I think Japanese companies will generally hesitate to be involved in gas projects in the future, especially those with long lead times. Japan's support for gas clashes with findings that new investments in gas, which is mainly composed of the greenhouse gas methane and produces CO2 emissions when burned for energy, would undermine climate goals. But, gas investments have been lucrative for Japan's energy companies resulting in record profits. But, Japan's stated intention to lower its carbon emissions may mean these gas investments carry some risk.

☆ Podcast: Saving the planet meets voter resistance in Germany
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: 1 min

A backlash over the cost of climate-friendly policies is hitting Germany’s Green Party. What does this voter resistance mean for the fight against climate change in the rest of the world? Argentina becomes the latest Latin American country to green light mifepristone – the drug at the centre of the U.S. abortion battle. Plus, all the latest on the debt ceiling talks and a cooking marathon in Nigeria. Our Standards: The Thomson Reuters Trust Principles.

☆ Li Hui: Beijing attempts to play peacemaker with planned trip by special envoy to Ukraine
▼ + stars: | 2023-05-17 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +5 min

A source within the Ukrainian government told CNN earlier this week that a Chinese envoy would be in Kyiv Tuesday and Wednesday, though Ukraine has not released further details. Beijing’s ties with Moscow have been under close scrutiny over the past week as European officials discussed a recalibration of the bloc’s China strategy. On Monday ahead of Li’s expected arrival in Ukraine, European Commission chief Ursula von der Leyen called for Ukraine’s peace plan to be the basis of efforts to resolve the conflict. It is therefore the one that should set out the core principles for a just peace,” she said in Brussels. Ukraine, the US and more than 100 nations have called for peace predicated on the unconditional withdrawal of Russia troops from Ukrainian territory.

☆ Italy's birth rate is at a record low. Young Italians say they can't afford to have babies
▼ + stars: | 2023-05-17 | by ( Barbie Latza Nadeau Valentina Di Donato Antonia Mortensen | Barbie Latza Nadeau | Valentina Di Donato | ) edition.cnn.com time to read: +8 min

The birth rate in Italy has been declining steadily since the economic crisis in 2008, for reasons demographers agree is rooted in economic insecurity. In France, the birth rate is higher at 1.8 children per woman, according to figures for 2022 from its national statistics agency. The Catholic Church, which is a predominant political force, and the right-wing government under Meloni have both lamented the low birth rate, but have put up roadblocks to ways to remedy the situation. De Luca blames the government for not doing enough for the younger generation, in part because decades of low birth rates have made the youth a minority. Testa fears that the low birth rate is contagious.

CNN —The United States and Western nations including the United Kingdom and Germany on Monday skipped an event at the United Nations marking the 75th anniversary of the dispossession of Palestinians after Israel called for a boycott. The commemoration was boycotted by Israeli officials, who also urged diplomats of other nations not to participate. Erdan said he has managed to convince “a number of countries” to boycott Monday’s event. The UN’s website for the event and a video it posted about the Nakba largely avoided mention of Israel, focusing instead on the suffering of the Palestinians. “We will be sending thousands and thousands of complaints to the International Criminal Court” if Israel and its supporters fail to take responsibility for the Nakba, Abbas warned.

☆ Major natural gas investor sees signs prices are bottoming
▼ + stars: | 2023-05-13 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

The investor who ran the country's biggest natural gas ETF said he believes prices have hit bottom. John Love, who managed the United States Natural Gas Fund , cites global demand and production dynamics for his bull case. Natural gas prices rose 6% this week and just notched their fourth positive week in five. Since then, several European countries including Germany have announced new LNG, or liquefied natural gas, projects or are expanding existing ones to reduce their dependence on natural gas exports. Teucrium Trading CEO Sal Gilbertie said he believes natural gas has been trying to build a bottom over the past four to six weeks.

☆ For Syrian refugees, Assad’s rehabilitation prompts fear of forced return
▼ + stars: | 2023-05-10 | by ( Cnn Staff | ) edition.cnn.com time to read: +6 min

According to a 2022 UNHCR poll of Syrian refugees living in Egypt, Lebanon, Jordan and Iraq, only 1.7% said they would return to Syria in the next 12 months. Even before Arab normalization with the Assad regime began, human rights organizations had repeatedly warned that Syrian refugees risked facing forced returns home amid concerns for their safety. Earlier this year, Denmark – which hosts more than 35,000 Syrian refugees – deemed more areas controlled by the Assad regime to be safe for return. “The further normalization goes, the deeper the pressure will be.”Alshogre worries for himself as well as other Syrian refugees. “If I am sent back to Syria, I will be cut into small pieces by the Syrian regime; I won’t make it out of the airport in Damascus.”

BERLIN, May 9 (Reuters) - Chinese Foreign Minister Qin Gang said on Tuesday that Beijing would maintain lines of communication with all parties to the war in Ukraine, including Germany, in seeking a ceasefire. European nations have repeatedly criticised China for its refusal to describe Russia's war in Ukraine as an invasion, or to call for a Russian withdrawal. "China is willing to maintain communication with relevant parties, including Germany, to achieve an early ceasefire." Qin said Beijing "firmly opposes some countries in using their so-called laws to impose long-arm jurisdiction and unilateral sanctions on other countries, including China". He added: "China will make necessary responses and resolutely safeguard the legitimate rights and legitimate interests of Chinese enterprises."

☆ Russia's war on Ukraine latest: Russia marks Victory Day with new attacks on Ukraine
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +4 min

* European Commission President Ursula von der Leyen hailed Ukraine as "the beating heart of today's European values" in a deeply symbolic visit to Kyiv on Tuesday as Russia marked its World War Two Victory Day. CONFLICT* Russia's defence ministry said its forces had launched missile strikes at targets across Ukraine overnight, disrupting Kyiv's supplies of ammunition to the frontline and troop movements. * Ukraine said its air defences shot down 23 of 25 missiles, fired chiefly at Kyiv, and there were no reported casualties. * Russian mercenary chief Yevgeny Prigozhin made a cryptic, profanity-laced comment about those in charge of Russia's war on Ukraine. INTERNATIONAL* Chinese Foreign Minister Qin Gang said Beijing would maintain lines of communication with all parties to the war in Ukraine, including Germany, in seeking a ceasefire.

☆ Germany's Scholz says more renewables key to lower industry costs
▼ + stars: | 2023-05-06 | by ( ) www.reuters.com time to read: +2 min

May 6 (Reuters) - Ramping up renewable power production rather than subsidies is the key to lower electricity prices for Germany's energy-hungry industry, Chancellor Olaf Scholz said on Saturday, in an apparent dig at proposals by his government's economy minister. To extend this for the whole of Germany, Scholz said everything within his powers needed to be done to boost power transmission networks and renewable power production. Scholz was speaking to journalists at a geothermal power plant in Kenya during a trip to Africa. "We know today already that we will have lower power prices than today, once we reached our goal that renewable energies dominate electricity production in Germany," he added. Scholz previously voiced scepticism about the initiative, saying long-term subsidies were not beneficial for the economy.

☆ Germany has a plan to tackle a rapidly ageing workforce: recruiting robots
▼ + stars: | 2023-05-01 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

But what does enhancing the workforce through robots and digitalization actually look like? There won't be major job losses as a result of digitalization, according to Ulrich Walwei, vice director of Germany's Institute for Employment Research. Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them. "Our robots can free up human workers to focus on more complex and creative work, leading to more fulfilling and engaging jobs," Pehlivan told CNBC via email. "Ultimately, the goal of integrating robots into the workplace is to augment human capabilities, not replace them," he added.

☆ EU ministers braced for Ukrainian frustration over ammunition plan
▼ + stars: | 2023-04-24 | by ( Andrew Gray | ) www.reuters.com time to read: +3 min

loading"The inability of the EU to implement its own decision on the joint procurement of ammunition for Ukraine is frustrating," Kuleba said on Thursday. Kuleba can make his case directly when he discusses the state of the war and Ukraine's needs by video link to a regular meeting of EU foreign ministers, taking place in Luxembourg. EU officials pushed back against Kuleba's criticism by stressing that this fast track is up and running so ammunition is already flowing to Kyiv. But the second track, worth another 1 billion euros to fund joint procurement, has yet to be finalised. EU officials and diplomats said they expected an agreement that would satisfy all sides in the coming days.

☆ Factbox: EU updates bank crisis rules to strengthen taxpayer shield
▼ + stars: | 2023-04-18 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 18 (Reuters) - The European Union set out draft reforms to rules for closing down failing banks on Tuesday. The original rules were introduced after the 2007-09 global financial crisis when taxpayers had to bail out lenders. This has often involved public money and the EU reform seeks to make it easier to apply its resolution rules to all sizes of banks to minimise taxpayer involvement. PRECAUTIONARY CAPITALItaly injected 5.4 billion euros ($5.9 billion) of state aid into Monte dei Paschi di Siena in 2017 under the precautionary capital mechanism, helping to circumvent resolution rules. DEPOSIT GUARANTEE POTThe proposals make it easier for regulators to use cash from industry-funded deposit guarantee schemes in a bank that has gone bust.

☆ China says hopes Germany supports peaceful Taiwan 'reunification'
▼ + stars: | 2023-04-15 | by ( ) www.reuters.com time to read: +2 min

[1/4] German Foreign Minister Annalena Baerbock and Chinese Foreign Minister Qin Gang attend a joint press conference at the Diaoyutai State Guesthouse in Beijing, China, April 14, 2023. Suo Takekuma/Pool via REUTERSBEIJING, April 15 (Reuters) - China's top diplomat Wang Yi "hopes and believes" Germany will support China's "peaceful reunification" with Taiwan, the Chinese foreign ministry said in a statement on Saturday. Wang made the remarks at a meeting with German Foreign Minister Annalena Baerbock, who is visiting China until Saturday, adding that China once supported Germany's reunification. Taiwan's Foreign Ministry said in a statement on Saturday it strongly approved of Baerbock's comments. "The Foreign Ministry thanks many high-level officials in the executive departments of various countries, including Germany, for their solidarity with Taiwan," it said.

[1/2] Visitors look at a Tesla Model 3 electric vehicle (EV ) at the third China International Consumer Products Expo, in Haikou, Hainan province, China April 12, 2023. Tesla said on Friday it cut prices in numerous European markets including Germany and France because of a scaling up and improvement in its production capacity. In Germany, Tesla has lowered the price of its Model 3 and Model Y vehicles by between 4.5% and 9.8%, data on its website showed on Friday, marking its second price reduction this year after a price reduction of 1-17% in January. In Singapore, it cut prices of its Model 3 and Model Y vehicles between 4.3% and 5%, its local website showed. Tesla also cut prices in Israel, with the price of the base rear-wheel drive Model 3 slashed by 25% after an initial round of global price cuts in January.

☆ Germany waters down plan to legalise cannabis after talks with Brussels
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +1 min

Acquiring and possessing up to 25 grams of recreational cannabis for personal consumption would also be made legal. Now we have to go new ways," Health Minister Karl Lauterbach said. Wednesday's announcement comes after Berlin held talks with the European Commission on a cornerstone paper the German government issued in October. The ministries involved in drafting the legislation - health, justice and agriculture - did not give a timeline for the plan. Many European countries, including Germany, have already legalised cannabis for limited medicinal purposes.

As a result, the stakes of the inaugural trip by German Foreign Minister Annalena Baerbock have risen, with many EU members hoping Berlin will use this opportunity to set out a clear and united EU line on China, analysts said. Baerbock must now make Germany's position on Taiwan clear during her visit, German foreign policy parliamentarian Nils Schmid told Reuters, adding Macron's remarks had destroyed a hoped-for impetus for a common European China policy. The foreign minister is due to meet her counterpart Qin Gang and China's top diplomat Wang Yi on the two-day trip. Europe's view of China as partner, competitor and systemic rival is the compass of its policy, she added. "More von der Leyen than Macron should be her guideline," conservative foreign policy lawmaker Johann Wadephul, who will join Baerbock on her trip, told Reuters.

☆ IMF warns deeper financial turmoil would slam global growth
▼ + stars: | 2023-04-11 | by ( David Lawder | ) www.reuters.com time to read: +5 min

The IMF's U.S. outlook improved slightly, with growth in 2023 forecast at 1.6% versus 1.4% forecast in January as labor markets remain strong. "Our advice is for monetary policy to remain focused on bringing down inflation," IMF chief economist Pierre-Olivier Gourinchas told reporters. The report included two analyses showing financial turmoil causing moderate and severe impacts on global growth. This "moderate tightening" of financial conditions could slice 0.3 percentage point off of global growth for 2023, cutting it to 2.5%. This scenario could slash 2023 growth by as much as 1.8 percentage points, reducing it to 1.0% - a level that implies near-zero GDP growth per capita.

☆ France says pesticide ban will not hit grain exports
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

He said that EU countries including Germany and Bulgaria were also using the pesticide on grain exports to Algeria. The questions in Parliament followed a weekend report by l'Opinion newspaper that said French grain exports would come to a halt from April 25. With the deadline looming, French grain producers had called for a swift response from the government. "We are depriving ourselves of a quarter of the outlets for French cereals," Eric Thirouin, head of French grain growers group AGPB, told Reuters. Exports put at risk by the ANSES decision amount to about 4 billion euros ($4.37 billion) in trade surplus, compared with a total grain trade surplus of about 11 billion euros last year, he said.

☆ Analysis: Grievances mount in Europe with future wealth in doubt
▼ + stars: | 2023-04-04 | by ( Mark John | ) www.reuters.com time to read: +5 min

That year-old conflict, the COVID-19 pandemic and an inflation-fuelled cost of living crisis have now brought things to a head. While many low-income U.S. workers discovered that post-lockdown labour shortages gave them leverage to negotiate solid wage increases, European workers initially prioritised job security over higher pay. Meanwhile the bump in corporate profits and shareholder gains started to aggravate a sense of inequality. The other option - allowing debt to rise further - looks tricky: European Union limits on deficits that were suspended after the pandemic will re-apply from 2024. The Macron and Scholz governments are seeking ways to allay the grievances, with Macron in particular suffering damage to his already weak personal popularity.

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