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☆ China's exports grow by 8.7% in August, beating expectations
▼ + stars: | 2024-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's exports rose by 8.7% year-on-year in U.S. dollar terms in August, according to the customs agency. That was higher than the forecast for growth of 6.5% year-on-year in U.S. dollar terms, according to a Reuters poll. Imports grew by 0.5%. In July, exports rose by 7% from a year ago, while imports increased by a more-than-expected 7.2%. China's imports from Russia fell by 1%, while exports rose by 10%, the data analysis showed.

Organizations: Union and Association of Southeast, Nations, EU, CNBC, Imports, ASEAN Locations: Shenzhen, Guangdong province, China, BEIJING, U.S, Russia

☆ European businesses in China reach a 'tipping point' on whether to invest more
▼ + stars: | 2024-09-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

Edgar Su | ReutersBEIJING — European businesses in China have grown so discouraged with the outlook for operating in the country that Beijing must act if the companies are to invest further, according to the EU Chamber of Commerce in China. "We do believe actually that we are in sort of a tipping point situation. Foreign direct investment into China fell by 29.6% during the January to July period versus a year ago, according to China's Ministry of Commerce. Such changes are part of Beijing's pledges to reduce what it calls the negative list, a collection of industries off-limits to foreign businesses in the country. However, Eskelund said such developments, while encouraging, did not move the needle enough for European businesses, especially when members' optimism on profitability in China for the next two years is at an all-time low.

Persons: Edgar Su, Jens Eskelund, Eskelund Organizations: of, Initiative, Reuters, EU Chamber of Commerce, China's Ministry of Commerce Locations: Beijing, China, Reuters BEIJING, Growth

☆ European Commission how to increase European competitiveness
▼ + stars: | 2024-09-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEuropean Commission how to increase European competitivenessJohannes Hahn, Commissioner of Budget and Administration for the European Commission discusses support measures to increase European competitiveness, highlighting the importance of cooperation between EU member states and investing in key sectors such as quantum technologies.

Persons: Johannes Hahn Organizations: Budget, Administration, European Commission

☆ Apple just lost a decadelong EU tax case. Now it must pay $14 billion.
▼ + stars: | 2024-09-10 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

The EU's top court ruled Apple must pay over €13 billion in back taxes. The European Court of Justice's decision ends a decadelong legal battle with the tech giant. EU competition chief Margrethe Vestager argued Apple received unfair tax breaks from Ireland. AdvertisementThe EU's top court just dealt Apple a major blow, ruling that the tech giant must pay more than €13 billion (about $14 billion) in back taxes. The European Court of Justice (ECJ) ruled that Apple must pay the taxes to the Irish government, ending a decadelong legal battle.

Persons: Margrethe Vestager, Apple, — Organizations: Apple, Service, of Justice, European Commission, Business Locations: EU, Ireland

☆ Google's 2.4 billion euro fine upheld by Europe's top court in EU antitrust probe
▼ + stars: | 2024-09-10 | by ( Arjun Kharpal | ) www.cnbc.com time to read: 1 min

The European Union flag is seen with Google's logo. Europe's top court on Tuesday upheld a 2.4 billion euro ($2.65 billion) fine imposed on Google for abusing its dominant position by favoring its own shopping comparison service. The fine stems from an antitrust investigation by the European Commission, the executive arm of the European Union, which concluded in 2017. Google appealed the decision with the General Court, the EU's second-highest court, which also upheld the fine. Google then brought the case before the European Court of Justice (ECJ), the EU's top court.

Organizations: European Union, Google, CNBC, European Commission, Court of Justice

☆ More countries are openly flaunting their ties with Putin. They say it's just business.
▼ + stars: | 2024-09-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussian President Vladimir Putin is having a very social year as his country continues to wage war in Ukraine. So far, Putin has met top leaders from Asian countries including China, India, Vietnam, and Indonesia. Russia is the BRICS chair this year, and Putin has invited Mongolia to join the group's summit in October. Russia's push for a multipolar world order resonates with countries who desire a more equitable international order.

Persons: —, Vladimir Putin, Putin, Sean McFate, McFate, Anwar Ibrahim, Ukhnaagiin Khürelsükh, couldn't, Russia —, Serik, Li Qiang's, Syracuse University's McFate, it's, Derek Grossman, Grossman Organizations: Service, Syracuse University Maxwell School of Citizenship, Public Affairs, Business, Malaysian, Criminal, ICC, World Bank, European Union, NATO, Bloomberg, Moscow, Central, European, EU, United Nations, RAND, Foreign Locations: Ukraine, China, India, Vietnam, Indonesia, Russia, North Korea, Iran, Mongolia, Mongolian, Russia's, European, Sri Lanka, Turkey, Kazakhstan, Central Asian, European Union, Moscow, Beijing, Europe, Syracuse, Brazil, South Africa, Malaysia, Switzerland, United States

☆ Draghi urges radical European Union reform requiring extra 800 billion euros a year
▼ + stars: | 2024-09-09 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Massimo Di Vita | Mondadori Portfolio | Getty ImagesThe European Union needs up to 800 billion euros ($884 billion) in additional investment per year to meet its key competitiveness and climate targets, according to a report from economist and politician Mario Draghi. The bloc's goals of bolstering its geopolitical relevance, social equality and decarbonization are being threatened by weak economic growth and productivity compared with the U.S. and China, the report states. The EU is meanwhile suffering an "innovation deficit" which must be tackled through reforms to research and development funding and policy, the report states. To fast-track policymaking, the report proposes limiting the voting items that require support from an absolute majority of member states. Funding questionPublic and private investments are being hindered by the size of the EU budget, its lack of focus and its risk aversion, the Draghi report says.

Persons: Mario Draghi, Massimo Di Vita, Draghi —, —, NextGenerationEU Organizations: Italian, European Union, U.S, European Central Bank, European, European Securities and Markets Authority, U.S . Securities, Exchange Commission, SEC Locations: Rome, Italy, China, EU, Europe, Germany

☆ Wall Street is turning less bullish on tech darling ASML for several key reasons
▼ + stars: | 2024-09-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Analysts at major Wall Street banks are getting more cautious on chip darling ASML , raising concerns about the critical chip equipment maker's demand outlook. Earlier this week, investment bank UBS downgraded ASML to "neutral" and cut its price target on the stock to 900 euros ($1,000.78) from 1,050 euros previously. Other Wall Street banks have subsequently come out with their own respective analyses on ASML — and they're more downbeat than they were before. The bank remains bullish on the stock, though, keeping ASML in its top pick for EU semiconductor equipment stocks. UBS cautioned ASML's machines could face a slowdown in demand due to an "architecture shift" to gate all around architecture, or GAA.

Persons: Morgan Stanley, ASML, ASML's, Morgan Stanley's, EUV, Biden, Christophe Fouquet, Jefferies Organizations: UBS, Intel, Bank of America, ASML's, Samsung, Nvidia, SK Hynix, Base Management, Dutch, Citi, Investment Locations: ASML, U.S, China, New York

☆ Hedge fund turned to a wargame to plan for a Chinese invasion of Taiwan
▼ + stars: | 2024-09-07 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

Related storiesIn the second phase of the game, soon after the Chinese invasion began, US forces were said to have engaged and stopped the Chinese amphibious assault, though China continued to bombard Taiwan. Daniel Ceng/Anadolu via Getty ImagesThis caught the hedge fund players by surprise: they had assumed EU sanctions were unlikely because of the depth of China-Europe trade, which reached $815 billion annually in 2023. The hedge fund "agreed that any room for avoiding a total divestment from China and the South China Sea was now completely lost, and market re-entry was probably many years away." The hedge fund responded by choosing to invest heavily in semiconductors manufactured in regions not affected by the war. "This would provide potential opportunities for new players to emerge in the Global South, particularly if loans can be collateralized," Knightsbridge noted.

Persons: Finley Grimble, liquidating, KSG, Daniel Ceng, Knightsbridge, Grimble, Michael Peck Organizations: Service, Business, Knightsbridge Strategic, Getty, Treasury, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: British, China, Taiwan, South China, Europe, South America, Japan, South Korea, Australia, Anadolu, South, Ukraine, Africa, East, Southeast Asia, Zimbabwe, Forbes

☆ EU’s Josep Borrell says Zelenskyy's plea to take war to Russia is 'right'
▼ + stars: | 2024-09-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU’s Josep Borrell says Zelenskyy's plea to take war to Russia is 'right'EU foreign policy chief Josep Borrell comments on Ukraine's incursion into Russia while joining the Ambrosetti Forum.

Persons: Josep Borrell Organizations: Ambrosetti Locations: Russia, EU

☆ Europe's economy survived 'terrible prophecies' but must now tackle trade with China: EU's Gentiloni
▼ + stars: | 2024-09-07 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

The European Union has successfully avoided the "terrible prophecies" that threatened its economy in recent years, but must still contend with Russia's war in Ukraine and a tenuous trade relationship with China, outgoing European Commissioner for Economy Paolo Gentiloni said Saturday. A former prime minister of Italy, Gentiloni has served as the European Commissioner for Economy under EC President Ursula von der Leyen since December 2019. Gentiloni will not be returning for a second term as commissioner following Von der Leyen's tumultuous re-election as president — but he has laid out the economic picture that awaits his imminent successor. "The economy is growing, slowly, but growing. And the risks of differences among the European Union, that was very high when the pandemic happened, are very limited," he noted.

Persons: Paolo Gentiloni, Gentiloni, Steve Sedgwick, Ursula von der Leyen, Von der, —, Russia's Organizations: European Union, Economy, European, European Central Bank, Moscow, European Commission Locations: Ukraine, China, Europe, Cernobbio, Italy's, Como, Italy

☆ The world just endured the hottest summer on record
▼ + stars: | 2024-09-06 | by ( Sam Meredith | ) www.nbcnews.com time to read: 1 min

The summer of 2024 was the hottest on record, according to the European Union’s climate monitor, extending an alarming run of temperature records that has put the planet firmly on course to notch its hottest year in human history. The EU’s Copernicus Climate Change Service (C3S) said on Friday that the global average temperature for the boreal summer, which refers to the Northern Hemisphere’s June through August period, was the highest on record. The summer months were found to be 0.69 degrees Celsius above the 1991-2020 average for the June-August period. It surpasses the previous record from June-August last year, which was 0.66 degrees Celsius above the average baseline. Samantha Burgess, deputy director of C3S, said the world had experienced the hottest June and August, the hottest day on record and the hottest boreal summer on record in the space of just three months.

Persons: Samantha Burgess, C3S Organizations: Northern

☆ World swelters through its hottest summer on record for the second year running
▼ + stars: | 2024-09-06 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The summer of 2024 was the hottest on record, according to the European Union's climate monitor, extending an alarming run of temperature records that has put the planet firmly on course to notch its hottest year in human history. The summer months were found to be 0.69 degrees Celsius above the 1991-2020 average for the June-August period. It surpasses the previous record from June-August last year, which was 0.66 degrees Celsius above the average baseline. Samantha Burgess, deputy director of C3S, said the world had experienced the hottest June and August, the hottest day on record and the hottest boreal summer on record in the space of just three months. "This string of record temperatures is increasing the likelihood of 2024 being the hottest year on record," Burgess said in a written statement.

Persons: Samantha Burgess, C3S, Burgess Organizations: Northern Locations: Seoul

☆ The Iberian lynx is back from the brink. Now virtual fences could save it from becoming roadkill
▼ + stars: | 2024-09-05 | by ( Victoria Barauna | ) edition.cnn.com time to read: +7 min

Sound and lightYet, the IUCN acknowledges that the Iberian lynx remains threatened. In the 1980s, roadkill played a key role in lynx mortality in the Doñana area (a prominent spot for the Iberian lynx) accounting for almost 17% of deaths. That may not sound like much, but Breitenmoser explains that given that lynx populations were critically endangered at the time, the impact was significant. Ortiz says that in a five-year timeframe, almost €4.5 million ($5 million) will be spent on improving habitats and nearly €2.9 million ($3.2 million) on boosting connectivity, including virtual fences. Innovation aside, for Ortiz the future of the Iberian lynx depends on co-operation.

Persons: Spain’s, ”, Urs Breitenmoser, Breitenmoser, roadkill, ” Breitenmoser, Francisco Javier Salcedo Ortiz, Marcos López, Parra, Brown, Ortiz, Guillermo López Zamora, “ It’s, “ Organizations: CNN, University of Bern, International Union for Conservation of Nature, IUCN, EU, roadkill, LIFE, Spain’s University of Córdoba Locations: Spain, roadkill, Sierra Morena, Doñana, Andalusia, Jaén, Granada, “, Italy, Extremadura, Portugal

☆ First France, now South Korea — Telegram's legal troubles are only growing. Here's why
▼ + stars: | 2024-09-03 | by ( Dylan Butts | ) www.cnbc.com time to read: +3 min

Nurphoto | Nurphoto | Getty ImagesFollowing the recent arrest of its founder in France, Telegram is now facing potential legal troubles in South Korea. Parallels in the casesDurov, the 39-year-old Russian-born billionaire, was arrested by French authorities following a preliminary investigation into Telegram launched on July 8. Similar to South Korea's investigation, French authorities were probing the platform's role in the distribution of pornographic images of minors, as well as facilitating organized crime, drug trafficking and fraud. Telegram's refusal to share information with investigators when required by law has also been noted in the French investigation. Now, in South Korea, they are attracting distributors of deepfake porn.

Persons: Pavel Durov, Durov, Woo Jong, Woo Organizations: Nurphoto, Yonhap News Agency, National Office of Locations: Krakow, Poland, France, South Korea, Russian, U.S, Brazil, Germany

☆ End of an era: The big change coming to European travel in November
▼ + stars: | 2024-08-31 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +4 min

Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get the latest news in aviation, food and drink, where to stay and other travel developments. CNN —In travel news this week: an accidental megadeal on first-class tickets, the world’s best-connected airport and why now is a good time to plan a trip to Europe. Goodbye to EU passport stampsPaper mementoes of our travels, from boarding cards to even passports themselves, are fast moving into obsolescence. Whether you’re off to Greece, Asia or the Middle East, you’ll likely find a use for these 45 best-selling travel accessories.

Persons: Il dolce, –, Lucy Laucht, it’s, you’ll, Hell Organizations: CNN, Labor, European Union Schengen Area, Aviation, Australian, Qantas, CNN Travel, Duluth Locations: Europe, Naples, Ischia, Puglia, Amalfi, Hungary, Gresham, Budapest, Stockholm, Greece, Northeast Asia, Abu Dhabi, Asia, Duluth, Minnesota, Duluth , Minnesota, United States, Lake Superior, Japan, Chile

☆ What we know about the charges filed against Telegram CEO Pavel Durov
▼ + stars: | 2024-08-29 | by ( Katherine Tangalakis-Lippert | Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Read previewFrench authorities charged Telegram CEO Pavel Durov with six crimes on Wednesday related to allegations that the tech leader allowed illegal activity to proliferate on his platform. Durov's arrest raises questions about free speech and content moderation. Telegram called Durov's arrest "absurd" and said that the company is "awaiting a prompt resolution" of the situation. Durov's arrest has received backlash from free-speech absolutists like Elon Musk — although his track record for allowing speech on X has also come into question. AdvertisementMusk, who has been criticized for the lack of content moderation on his platform X, defended Durov and painted the Telegram CEO's arrest as a broader global threat around free speech.

Persons: —, Pavel Durov, Durov, He'll, David, Olivier Kaminski, Elon Musk, Daniel Lyons, Lyons, K, Dhillon, Emmanuel Macron Organizations: Service, Business, Associated Press, AP, Paris, Elon, Boston College Law School, New York Times, Times, Group, California Republican Party Locations: Ukraine, Russia, France

☆ Telegram CEO charged with allowing criminal activity by French prosecutors
▼ + stars: | 2024-08-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Founder and CEO of Telegram Pavel Durov delivers a keynote speech during the Mobile World Congress in Barcelona, Spain February 23, 2016. REUTERS/Albert GeaFrench prosecutors on Wednesday charged Telegram CEO Pavel Durov with enabling criminal activity on the messaging platform and placed him under formal investigation following his arrest Saturday. In a statement, the Paris Prosecutors' Office said that Durov was indicted of all charges unveiled earlier this week in a statement from prosecutors. Durov has posted 5 million euros for bail, is under judicial supervision, cannot leave French territory, and has to report twice weekly to a police station, prosecutors said Tuesday. The 39-year-old Russian-born billionaire has been accused of failing to mitigate the misuse of his social media and messaging platform for criminal activities.

Persons: Pavel Durov, Albert Gea, Durov Organizations: Mobile, REUTERS, Paris Prosecutors, Office, CNBC Locations: Barcelona, Spain, Paris, Russian

☆ Canada to slap 100% import tariffs on Chinese electric vehicles over 'unfair' competition
▼ + stars: | 2024-08-27 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

Canada already imposes 6.1% tariff on EVs manufactured in China and imported into Canada, the government said on Monday. The country will also put a 25% tariff on China-made steel and aluminum imports, effective Oct. 15. China is the third-largest country for steel imports into Canada, according to the Canadian Steel Producers Association. Canada's EV, steel and aluminum industries face "unfair competition" and trade practices from China, the government's finance department said. The EU also hit China-made EVs with higher tariffs in July, though it slashed some of the planned tariffs on China-made Tesla EVs as well as other Chinese EV makers last week.

Persons: Justin Trudeau, Blair Gable, Tesla, Vincent Chan, CNBC's Organizations: Canada's, Rideau Hall, Reuters, European, Canadian Steel Producers Association, EU, Biden Administration, EV, Aletheia Locations: Ottawa , Ontario, Canada, Reuters Canada, China, European Union, U.S

☆ What to know about Telegram, the messaging app whose CEO was arrested over the weekend
▼ + stars: | 2024-08-26 | by ( Clare Duffy | ) edition.cnn.com time to read: +7 min

New York CNN —The arrest of Telegram CEO Pavel Durov in France over the weekend has thrust the popular messaging service and its enigmatic founderinto the spotlight. Durov’s arrest comes as the app has faced growing scrutiny for its use by terrorist groups and far-right extremists. Telegram is an encrypted messaging service that was launched in 2013 by Durov and his brother, Nikolai. And earlier this month, the messaging app began actively removing calls to violence from the platform following reports that the app was being used to organize far-right, anti-immigrant riots in the United Kingdom. In addition to running Telegram, Durov has become something of an online influencer, sharing images on Instagram of his world travels (and, often, shirtless photos).

Persons: Pavel Durov, Durov, fraudsters, Laure Beccuau, Beccuau, Maria Butina —, Emmanuel Macron, ”, ” Macron, “, it’s, Nikolai, launderers, White supremacists, Remi Vaughn, Vaughn, Mark Zuckerberg, Viktor Yanukovich, ” Durov, – Joshua Berlinger, Camille Knight, Anna Chernova Organizations: New, New York CNN, Paris’s, Reuters, ISIS, Financial Times, Trump, Facebook, ”, VK, Ukraine’s, Kremlin Locations: New York, France, Russian, Russia, Paris, Durov, Iran, India, Ukraine, Moscow, Israel, United Kingdom, Soviet Union, Kyiv, Dubai

☆ Fires observed on board Greek-flagged tanker in Red Sea, says maritime agency
▼ + stars: | 2024-08-24 | by ( ) www.cnbc.com time to read: +2 min

The Houthis first damaged the tanker on Wednesday with repeated attacks that caused a fire and a loss of engine power. Three fires blazed on a Greek-flagged oil tanker in the Red Sea, the United Kingdom Maritime Trade Operations said on Friday, one day after rescuers evacuated its crew in the wake of an assault by Yemeni Houthi militants . Later in the day, the Houthis posted a video on social media that purportedly showed them setting the tanker on fire. The damaged tanker, carrying 150,000 metric tons of crude oil, poses an environmental hazard, the EU's Red Sea naval mission Aspides said. The Sounion was the third vessel operated by Athens-based Delta Tankers to come under Houthi attack this month.

Persons: UKMTO, Aspides, Yahya Saree Organizations: United Kingdom Maritime Trade Operations, Authority, International Tanker Owners Pollution Federation, Delta Locations: Yemen, Eritrea, Iran, Israel, Gaza, Red, Yemeni, Djibouti, Caribbean, Tobago, Athens, Palestine

☆ Kyiv’s incursion into Russia sends a defiant message to its Western backers: We can win this war
▼ + stars: | 2024-08-24 | by ( Tim Lister | ) edition.cnn.com time to read: +9 min

Just as importantly, it’s also sent a political message to Kyiv’s allies that has changed the prevailing narrative of the war - that Ukrainian forces are doomed to fight an endless rearguard action against superior Russian firepower. A Ukrainian soldier walks past at a city hall in Sudzha, Kursk region, Russia, Friday, Aug. 16, 2024. But Ukrainian forces have shown that the conflict is not a one-way street. For the Ukrainians, sustaining the operation as Russia brings more artillery and aviation to bear will become increasingly difficult. But for every passing day that Ukrainian forces control an area of Russian territory the size of Hong Kong, the Kursk incursion becomes less of a footnote.

Persons: CNN —, it’s, Vladimir Putin, “ Putin, ” Mathieu Boulegue, ”, ” Boulegue, Volodymyr Zelensky, “, ” Mick Ryan, Kursk “, Ryan –, Zelensky, ” Ryan, Boulegue, Sabrina Singh, Josep Borrell, Donald Trump, Olga Tatariuk Organizations: CNN, Institute for, Center for, Kremlin, Ukrainian, Futura, Kyiv, Ukrainian Defense Ministry, NATO, Russian, Chatham House, Special Forces, Special Forces of Locations: Russian, Kursk, Russia, Ukraine, Moscow, Washington, Australia, Kharkiv, Ukrainian, Sudzha, Germany, United States, Chatham, Glushkovo, Kursk Region, Special Forces of Ukraine, Donetsk, Pokrovsk, Hong Kong

☆ Sounion: Fires on board Greek-flagged tanker after Houthi attack in Red Sea, says maritime agency
▼ + stars: | 2024-08-24 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Reuters —Three fires blazed on a Greek-flagged oil tanker in the Red Sea, the United Kingdom Maritime Trade Operations said on Friday, one day after rescuers evacuated its crew in the wake of an assault by Yemeni Houthi militants. The Iran-aligned Houthis, who control Yemen’s most populous regions, said on Thursday that they had attacked the Sounion oil tanker as part of their 10-month campaign against commercial shipping to support Palestinians in the war between Israel and Hamas in Gaza. The Houthis first damaged the tanker on Wednesday with repeated attacks that caused a fire and a loss of engine power. The damaged tanker, carrying 150,000 metric tons of crude oil, poses an environmental hazard, the EU’s Red Sea naval mission Aspides said. The Sounion was the third vessel operated by Athens-based Delta Tankers to come under Houthi attack this month.

Persons: UKMTO, “, Aspides, Yahya Saree Organizations: Reuters, United Kingdom Maritime Trade Operations, Authority, International Tanker Owners Pollution Federation, Delta, “ Locations: Red, Yemeni, Iran, Israel, Gaza, Yemen, Eritrea, Djibouti, Caribbean, Tobago, Athens, Palestine

☆ The United States and Europe need China for clean energy. They will pay a price to break free
▼ + stars: | 2024-08-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +8 min

London CNN —The United States and Europe are racing to narrow China’s commanding lead in clean energy technologies, throwing subsidies at local manufacturers and hiking tariffs on Chinese imports in a strikingly protectionist turn. Without China’s electric vehicles (EVs), solar panels, wind turbines, and batteries, reducing planet-heating pollution could take longer and ultimately increase costs for businesses and consumers. Beijing’s virtual monopoly on the processing of some critical minerals comes with particular risks for the global green transition. Zhu Haipeng/VCG/APAny delay in switching to clean energy will exact a heavy toll on the planet. Birol at the IEA also advocates for trade policies that diversify supply chains while reducing the risk of delays to the clean energy transition.

Persons: “, Margrethe Vestager, ”, ” Fatih Birol, David G, Victor, Michael R, Davidson, ” Victor, Pierre, Olivier Gourinchas, Zhu Haipeng, Victor of, Birol, don’t Organizations: London CNN, Russia, Getty, ”, International Energy Agency, Global, University of California, CNN, Monetary Fund, McKinsey Global Institute, Victor of University of California, IEA Locations: United States, Europe, China, Lianyungang, Washington, Netherlands, Japan, Beijing, of Taicang, Suzhou, Brookings, University of California San Diego, Fuzhou, Victor of University of California San Diego

☆ Mewawalla: Everyone expected the EU to take the lead on breaking up Big Tech
▼ + stars: | 2024-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMewawalla: Everyone expected the EU to take the lead on breaking up Big TechGlobalData's Cyrus Mewawalla weighs in on reports the Justice Department may seek a breakup of Google, and the different regulatory approaches being taken by the U.S. and the EU.

Persons: Cyrus Mewawalla Organizations: EU, Big Tech, Department, Google, U.S

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