DIRS.INFO The most relevant business & tech news

☆ Southeast Asia is a top choice for firms diversifying supply chains amid U.S.-China tensions
▼ + stars: | 2024-06-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +5 min

Skyline, Ho Chi Minh City, Vietnam John Harper | Photodisc | Getty ImagesSoutheast Asia has emerged as a top choice for firms looking to diversify production away from China, including Chinese companies, amid escalating tensions between Washington and Beijing. "Southeast Asia is well-placed to benefit significantly from the China+1 phenomenon as both foreign and Chinese companies diversify their supply chains and operations," said Kuo-Yi Lim, co-founder and managing partner of Southeast Asian venture capital firm Monk's Hill Ventures. "The ASEAN-6 region has benefited from a diversification of global and regional supply chain as well as the adoption of 'China+1' strategies. MalaysiaMalaysia has seen semiconductor firms including Intel, GlobalFoundries and Infineon setting up or expanding operations in the country over the last few years amid U.S.-China tensions. Chinese electric vehicle maker BYD plans to start commercial production of EVs in Indonesia in 2026, according to local reports.

Persons: Vietnam John Harper, Kuo, Yi Lim, Lim, Yinglan Tan, Kai Wei Ang, CNBC's, It's, Ang, Anders C, Johansson, –, Sokon – Organizations: Photodisc, Getty, Monk's Hill Ventures, ASEAN, Hong Kong SAR, Apple, Ventures Partners, Samsung, BofA Securities, Intel, GlobalFoundries, Infineon, U.S, Monk's Hill Ventures . Industry, Malaysia that's, Stockholm China Economic Research, Stockholm School of Economics, Chery, Singapore Locations: Chi Minh City, Vietnam, Asia, China, Washington, Beijing, Monk's, Indonesia, Malaysia, Philippines, Thailand, Singapore, U.S, Japan, European Union, China & Hong Kong, Hong Kong, Vietnam Vietnam, ASEAN, Malaysia Malaysia, Stockholm China, EVs

☆ European Union regulators accuse Apple of breaching the bloc's tech rules
▼ + stars: | 2024-06-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Costfoto | Nurphoto | Getty ImagesEuropean Union regulators on Monday said that Apple is in breach of sweeping new tech rules because it does not allow customers of its App Store to be steered to alternatives. The European Commission, the EU's executive arm, also said it had opened a new probe into Apple into new contractual terms with developers. Under the DMA, tech firms are not allowed to block businesses from telling their users about cheaper options for their products or about subscriptions outside of an app store. The regulators also said that the fees Apple charges developers for the initial acquisition of new customers via the App Store "go beyond what is strictly necessary." The steering rules were also a focus in that investigation.

Persons: Apple Organizations: Nurphoto, Getty, Apple, European Commission, EU, Digital Markets, Big Tech, CNBC, Commission, Regulators Locations: U.S

☆ Apple is a bully with too much power in the markets, says Palantir co-founder Joe Lonsdale
▼ + stars: | 2024-06-24 | 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 EmailApple is a bully with too much power in the markets, says Palantir co-founder Joe LonsdaleJoe Lonsdale, 8VC founding partner and Palantir co-founder, joins 'Squawk Box' to discuss Apple's monopoly power in the app store, news of EU regulators accusing Apple of breaching the bloc’s tech rules, state of the 2024 race, and more.

Persons: Palantir, Joe Lonsdale Joe Lonsdale Organizations: Apple Locations: 8VC

☆ Hezbollah Has Threatened Cyprus. Here’s Why.
▼ + stars: | 2024-06-22 | by ( Ephrat Livni | More About Ephrat Livni | ) www.nytimes.com time to read: +3 min

Cyprus found itself at the center of the world’s attention this week when the leader of Hezbollah threatened to target the small island nation if it supported Israel in potential war efforts. Here’s a closer look at how Cyprus has been pulled into the situation. Their militaries have conducted joint exercises and exchanged visits, and the two countries have a defense cooperation program, according to the Cyprus Ministry of Defense. Cyprus also has a “defense attaché” in Israel — and in about two dozen other nations — as part of what it calls “active defense diplomacy.”There is an additional cooperation agreement between Cyprus, Greece and Israel, which Cyprus says is aimed at “strengthening peace, stability and security in the Eastern Mediterranean.”How did Cyprus respond to Hezbollah’s threat? Other allies of Cyprus also condemned Hezbollah’s threat.

Persons: Hassan Nasrallah, Here’s, ”, Israel —, Nikos Christodoulides, “, Christodoulides, Peter Stano, ” Matthew Miller, Nasrallah’s Organizations: Lebanese, Cyprus Ministry of Defense, American, Cypriot, European Union, State Department Locations: Cyprus, Israel, Iran, Lebanon, Britain, Egypt, France, Greece, Gaza

☆ How a Saudi pullback from a landmark US deal is bad news for dollar dominance
▼ + stars: | 2024-06-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Saudi Arabia has not renewed a deal that ensures the use of US dollars in the oil trade. The end of this "petrodollar" agreement will dent dollar dominance, the Atlantic Council wrote. This month, Saudi Arabia did not renew a 1974 accord that mandates the exclusive use of greenbacks when selling its crude oil. What's more, US dependence on Saudi oil has slid considerably, given a historic explosion in US domestic production. "China has become Saudi Arabia's largest oil customer, accounting for more than 20% of the kingdom's oil exports.

Persons: —, nonresident, Hung Tran, Tran, What's Organizations: Atlantic Council, Service, Saudi Locations: Saudi Arabia, Europe, American, China, Saudi, Beijing, Riyadh

☆ Apple Intelligence won't launch in EU in 2024 due to antitrust regulation, company says
▼ + stars: | 2024-06-21 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 10, 2024. Apple said Friday it won't release three recently announced features, including its flagship "Apple Intelligence" AI product, in the European Union in 2024 due to "regulatory uncertainties" stemming from the bloc's Digital Markets Act antitrust regulation. Apple Intelligence can proofread writing or even rewrite it in a friendly or professional tone. Apple saw 2023 net sales of $94.3 billion in Europe, just under a quarter of its worldwide net sales. Apple Intelligence also won't be available in Greater China, which accounted for $72.6 billion of its 2023 sales.

Persons: Tim Cook, Apple Organizations: Apple Inc, Apple Worldwide, Apple, Apple Intelligence, European Union, bloc's, EU, Microsoft, OpenAI, European Locations: Cupertino , California, Europe, Greater China

☆ Human rights lawyer to political reformer: Who is Keir Starmer, the UK's new would-be prime minister
▼ + stars: | 2024-06-21 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Labour Party leader Sir Keir Starmer speaks ahead of the U.K.'s general election on July 4, 2024. The left-of-center opposition party retains a commanding lead of around 20 points over current Prime Minister Rishi Sunak's Conservatives, according to the latest YouGov poll. But who is Keir Starmer — Labour's leader and the clear favorite to become prime minister after Britain's July 4 election? Starmer also served as a human rights adviser during former Labour Prime Minister Tony Blair's Northern Ireland Good Friday Agreement. Labour leader Keir Starmer takes a selfie with students after a campaign event at Three Counties Medical School on May 29, 2024.

Persons: Sir Keir Starmer, Anthony Devlin, Rishi Sunak's, Nigel Farage's, Keir Starmer —, Starmer, Margaret Thatcher's, Tony Blair's, Jeremy Corbyn, Keir Starmer, Christopher Furlong Organizations: Labour Party, Getty, Conservative, Britain's Labour Party, Labour, Conservatives, British, National Health Service, University of Leeds, University of Oxford, Shell, Tony Blair's Northern, Service, Counties Medical School, Wealth Fund Locations: London, England, Victoria, EU, Britain

☆ Donald Trump’s potential vice president picks
▼ + stars: | 2024-06-21 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +15 min

CNN —Former President Donald Trump has been busy in recent weeks. Doug Burgum speaks during a campaign event with former President Donald Trump, in Laconia, New Hampshire, in January. Vance, shakes hands with former President Donald Trump during a rally hosted by the former president at the Delaware County Fairgrounds in Delaware, Ohio. He is also close with Donald Trump Jr.Vance, a former venture capitalist, veteran and author, is among the candidates who received vice-presidential vetting materials from the Trump campaign. Rep. Byron Donalds speaks before former President Donald Trump at the “People's Convention” of Turning Point Action on June 15, 2024, in Detroit.

Persons: Donald Trump, Trump, Doug Burgum, Al Drago, Burgum, Burgum —, —, CNN’s Kaitlan Collins, ”, ” Burgum, “, Sen, Marco Rubio, Joe Raedle, Florida Sen, Marco Rubio —, Rubio, Joe Biden, Vance, Drew Angerer, Vance Ohio Sen, J.D, Donald Trump Jr, Mike Pence’s, Tim Scott, Justin Sullivan, Tim Scott Trump, Scott, Nikki Haley, Elise Stefanik, Chip Somodevilla, Stefanik, Stefanik —, she’s, Ben Carson, Anna Moneymaker, Carson —, — didn’t, ” Carson, Carson, ” Trump, Byron Donalds, Carlos Osorio, Ron DeSantis, Donalds, Jim Crow, ” Donalds, ” “, Tasos Katopodis, Biden, Haley, ” Haley, didn’t, Tom Cotton, Andrew Harnik, Tom Cotton Arkansas Sen, Cotton, Tulsi Gabbard, Brendan Smialowski, wokeness, ” Gabbard, Gabbard, CNN’s Veronica Stracqualursi, David Wright, Shania Shelton, Kristen Holmes, Steve Contorno, Stephen Collinson, Avery Lotz, Manu Raju, Alayna Treene, Kate Sullivan, Aaron Pellish, Jeff Zeleny, Eva McKend, Gregory Krieg, Kylie Atwood, Arit John, Ebony Davis, Clare Foran, Ali Zaslav, Ted Barrett Organizations: CNN, Republican National Convention, North Dakota Gov, Bloomberg, Getty, Doug Burgum North Dakota Gov, Microsoft, Trump, Miami - Dade Country Fair, Delaware County Fairgrounds, Capitol, Fox News, Greenville Convention Center, South, Republican, Senate, South Carolina Gov, Grace Baptist Church, Ben Carson Former Housing, Urban, Department of Housing, Florida Gov, Trump ”, Democratic, Press, GOP, United Nations, UN, National Security Council, House, Senate Republican, NBC, Conservative Political, Conference, Tulsi, Former Hawaii Rep, Democratic National Committee, Democrat, New York Times, Defense Department, State Department Locations: New York, Laconia , New Hampshire, Miami, Florida, Delaware, Delaware , Ohio, Congress, Ukraine, Greenville, Greenville , South Carolina, South Carolina, Grappone, Concord , New Hampshire, Marion , Iowa, Detroit, Byron Donalds Florida, Trump, West Des Moines , Iowa, Washington , DC, Afghanistan, Iraq, National Harbor , Maryland, AFP, American

☆ Biden’s searing character attacks on Trump may tell a story about his own campaign’s struggles
▼ + stars: | 2024-06-21 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

With his two impeachments, a criminal conviction and an attempt to overturn the last election, Trump gave Biden plenty to work with. Biden has been road testing his character attacks on Trump for weeks in fundraising events and they’re now increasingly being parroted by campaign officials. Biden seeks to move the goalposts with ads during soccer tournamentThe Biden campaign is now making daily pitches to a significant corner of his coalition showing signs of stress. On Thursday, the Biden campaign turned to Hispanic voters — another key voting bloc where polls suggest he is underperforming. Biden’s character attacks on Trump represent his best attempt to remind Americans of the fateful nature of the choice they will face in November.

Persons: CNN — Joe Biden, Donald Trump, he’s, ”, Trump, Biden, Trump’s, it’s, Biden –, Biden’s, he’d, they’re, Bill Clinton, Hillary Clinton, He’s, Jean Carroll, Mitch Landrieu, “ Joe Biden, ” Landrieu, Manu Raju, ” Jasmine Harris, “, Barack Obama, Lionel Messi Organizations: CNN, Trump, Biden, Black, Copa América, Argentina, NBC Locations: New York, Virginia, America, Black, Central Park , New York, Pennsylvania, Michigan, Wisconsin, Philadelphia, Detroit, Milwaukee, Atlanta, West, Arizona, Nevada, Georgia

☆ Sterling steady ahead of BoE decision; dollar wobbles against yen
▼ + stars: | 2024-06-20 | by ( ) www.cnbc.com time to read: +3 min

The British pound held broadly steady on Thursday ahead of a rate decision from the Bank of England later in the day, while the dollar was on the back foot as it awaited fresh market catalysts. The British pound held broadly steady on Thursday ahead of a rate decision from the Bank of England later in the day, while the dollar was on the back foot as it awaited fresh market catalysts. Sterling last bought $1.2719 after having eked out a slight gain in the previous session, while the euro rose 0.03% to $1.0747. The dollar slipped 0.05% against the yen to 157.99, though the Japanese currency remained not too far from an over one-month low of 158.255 per dollar hit last week. The BoE is widely expected to keep rates steady on Thursday, and the focus will be on any guidance on how soon an easing cycle could begin.

Persons: BoE, Tony Sycamore, Rodrigo Catril Organizations: Bank of England, Sterling, Wednesday, IG, Swiss National Bank, Swiss, National Australia Bank, New Zealand Locations: United States, Switzerland, Norway, France

☆ IMF chief says Europe looks like 'an ideas supermarket' for the U.S., calls for further integration
▼ + stars: | 2024-06-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Kristalina Georgieva, chief executive officer of the World Bank Group, arrives to a briefing at the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, April 19, 2024. Speaking to CNBC's Karen Tso, IMF Managing Director Kristalina Georgieva said Europe's economic performance was strengthening and inflation was clearly on a downward trajectory. One, to achieve the full potential of the single market. Right now, Europe looks like an ideas supermarket for the United States," Georgieva said. [It is] 27 countries not yet integrated in a single market."

Persons: Kristalina Georgieva, Karen Tso, Georgieva Organizations: World Bank Group, International Monetary Fund, Bank, IMF, European Central Bank Locations: Washington , DC, Europe, United States

☆ Russia and North Korea’s Defense Pact Is a New Headache for China
▼ + stars: | 2024-06-20 | by ( David Pierson | Choe Sang-Hun | ) www.nytimes.com time to read: +1 min

In the contest of global narratives, China has sought to cast itself as a peaceful nation opposed to dividing the world into rival camps. In contrast, it has accused the United States of building alliances that will drive the world toward a new Cold War. Yet Russia and North Korea’s mutual defense treaty, which calls for the two countries to provide immediate military assistance to each other in the event of war, is exactly the kind of bloc-building that China has charged the United States with. China’s closest strategic partner and its only treaty ally — Russia and North Korea — are now the ones heightening the risk of Cold War-style confrontation in northeast Asia. The pact also creates more headaches for Beijing by appearing to deepen the semblance of a trilateral axis between China, Russia and North Korea, which China has sought to avoid.

Persons: —, ”, Yun Sun Organizations: “, Stimson Locations: China, United States, Russia, North, — Russia, North Korea, Asia, Beijing, “ Beijing, Washington

☆ European Sanctions Target Russian Liquefied Natural Gas for First Time
▼ + stars: | 2024-06-20 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +1 min

The European Union has agreed to a new raft of economic sanctions against Russian individuals and companies, the Belgian government said on Thursday. Notably, they include measures aimed at squeezing Russia’s profits from the sale of liquefied natural gas to E.U. countries stopped importing natural gas that arrived by pipeline from Russia immediately after the full-scale invasion of Ukraine in February 2022. But the bloc had refrained from initiating any formal sanctions against Russian gas imports, leading many E.U. The latest action includes measures targeting imports of Russian L.N.G.

Organizations: European Union, of Locations: Belgian, Russia, Ukraine, Russian, E.U, of Europe

☆ Putin arrives in Vietnam as Russia seeks support in face of Western isolation
▼ + stars: | 2024-06-19 | by ( Helen Regan | ) edition.cnn.com time to read: +7 min

Considered a pariah by the West, Putin is looking to boost economic ties with friendly countries and show that Western isolation is not having an impact. Vietnam was among several Southeast Asian countries that abstained from joining a global summit on Ukraine in Switzerland last week. Last week, Vietnam sent a delegation led by its Deputy Minister of Foreign Affairs to attend the BRICS Foreign Ministers’ Summit in Russia. Analysts say Russia is likely to get more out of the visit than Vietnam, and Hanoi may even suffer reputational damage by hosting Putin following his trip to North Korea. “If no substantive deals are made, the visit will mainly be symbolic and a means for Putin and Russia to show the world that Western sanctions against Russia are not working,” said Le.

Persons: Vladimir Putin, Kim Jong, Putin, Nguyen Phu Trong, Lam, Minh, Yury Ushakov, Xi Jinping, Joe Biden, ”, Le Hong Hiep, – Yusof, Le, ” Putin, Xi, –, John Kirby, Anwar Ibrahim Organizations: CNN, West, US, Reuters, Communist Party General, Vietnam’s, Vietnam News Agency, ” TASS, TASS, ”, Vietnam Studies, International Criminal Court, ICC, United Arab, Foreign Ministry, Foreign Affairs, ’ Summit, Analysts, Putin Locations: Hanoi, North Korea, Ukraine, Vietnam, Moscow, United States, China, Russia, Pyongyang, Russian, Soviet, India, US, South China, Switzerland, Beijing, Kazan, Iran, Saudi Arabia, United Arab Emirates, Ethiopia, Egypt, Malaysia, BRICS, “

☆ Election Updates: A Democratic brawl in a Virginia race may put a House seat in play in November.
▼ + stars: | 2024-06-18 | by ( Jonathan Weisman | ) www.nytimes.com time to read: +7 min

One of the field’s top fund-raisers, Krystle Kaul, faces charges of embellishing her résumé well beyond the usual flourishes of a political campaign. Ms. Filler-Corn was the first woman and first Jewish speaker of the Virginia State House. Mr. Helmer is a Rhodes scholar and an Army veteran who served in Afghanistan, Iraq, and as a member of the Virginia House. Then last week, an anonymous Democratic official, speaking through her lawyer, accused Mr. Helmer of groping her and later making sexually crude remarks. “That would be presumptuous.”Democratic voters in the district peppered by texts attacking Mr. Helmer could be forgiven if they do not know where to turn.

Persons: Dan Helmer, Eileen, Krystle Kaul, Suhas Subramanyam, Jennifer Wexton, Subramanyam, Helmer, Barbara Comstock, Donald J, Trump, Mr, “, Ms, Wexton, Helmer of groping, Kaul, Michele Davis Younger, ”, Will Reinert, Subramanyam’s, Aliscia Andrews, Alexander Isaac, Avram Fechter Organizations: Congressional, Democratic, Senate, Republican, Virginia State House, Army, Virginia State House Democrats, Washington Post, Loudoun County Democratic Party, National Organization for Women, ”, Republicans, Democrat, National Republican Congressional, ” Democratic, Virginia Democratic, Federal, Commission, PAC, United States Central Command, Department of Defense, Marine Corps, Loudoun County Democratic Locations: Washington, Israel, Virginia, Rhodes, Afghanistan, Iraq, Democratic, Loudoun County, Va

☆ Warren Buffett’s Berkshire Hathaway dumps BYD shares following rise in trade tension over Chinese EVs
▼ + stars: | 2024-06-18 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Warren Buffett’s Berkshire Hathaway has further cut its large stake in BYD, which vies with Tesla as the world’s largest electric car (EV) maker, as global trade tensions escalate over Chinese EVs. The sale was valued at 310.5 million Hong Kong dollars ($40 million). BYD shares had closed at a record high in June of that year. In 2008, Berkshire spent $230 million in buying BYD shares at an average of HK$8 ($1.02) apiece. Berkshire still holds 75.7 million Hong Kong-listed shares of BYD, which were worth about 17.6 billion Hong Kong dollars ($2.3 billion) by Tuesday.

Persons: Hong Kong CNN — Warren, Berkshire Hathaway, Tesla, Buffett, Daniel Acker, Biden, Wang Chuanfu, Elon Musk’s Tesla, didn’t, Charlie Munger, Munger “, ” Organizations: Hong Kong CNN, Hong Kong, Berkshire, Bloomberg, Getty, European Union, European Commission, EU, EV, HK, CNN Locations: China, Hong Kong, BYD, European, Europe, Beijing, United States, Shenzhen, Berkshire

☆ Chinese official slams EU probe into EV subsidies as 'selective'
▼ + stars: | 2024-06-18 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

"The Commission considers that the sample was selected in accordance with the WTO rules and the corresponding EU legislation in this regard," he said. "The Volkswagen Group confidently accepts the growing international competition, including from China, and sees this as an opportunity. The NDRC's Jin added that the EU anti-subsidy probe does not appear to be based off an industry or business complaint. "Consequently, the Commission has reached out to Chinese authorities to discuss these findings and explore possible ways to resolve the issues identified in a WTO-compatible manner," the EU statement said. The Biden administration in May announced it would raise tariffs on imports of Chinese electric cars from 25% to 100%.

Persons: Olof Gill, Gill, BEV, Oliver Zipse, Elon, Jin, EU's Gill, BEV producers, Biden Organizations: CNBC, WTO, Major, Volkswagen Group, EU, Volkswagen, U.K, BMW Group, BMW, SAIC, EV, EVs Locations: Union, China, Germany, Europe, Western Europe, Shanghai, EU, WTO

☆ Opinion | The 2024 Election Hinges on Voters Who Hate Politics
▼ + stars: | 2024-06-18 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +1 min

The biggest divide in our politics isn’t between Democrats and Republicans, or even left and right. It’s between people who follow politics closely, and those who pay almost no attention to it. If you’re in the former camp — and if you’re reading this, you probably are — the latter camp can seem inscrutable. As the 2024 election takes shape, this bloc appears crucial to determining who wins the presidency. An NBC News poll from April found that 15 percent of voters don’t follow political news, and Donald Trump was winning them by 26 points.

Persons: Donald Trump, “, Ezra Klein, She’s, John Barry Ryan, ”, I’ve, Biden Organizations: Republicans, NBC, Apple, Spotify, Amazon Music, YouTube, University of Michigan, Trump Locations: America

☆ EU to challenge U.S. and China strategically on trade, competition chief says
▼ + stars: | 2024-06-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Executive Vice President of the European Commission for A Europe Fit for the Digital Age Margrethe Vestager talks to media in the Berlaymont, the EU Commission headquarter on May 23, 2024 in Brussels, Belgium. The European Union may be no economic match for its U.S. and China trade partners, but it can seek to contend with them strategically, the bloc's competition chief said Tuesday. Margrethe Vestager told CNBC that the EU had become "much better" at defending itself against unfair trade practices, and that it would continue to find novel ways of competing equitably with its economic partners. "The point is to realise we can never outspend China or the U.S.," Vestager told Silvia Amaro in Brussels. It follows similar measures by the U.S. last month, the latest phase in a growing trade tensions between the two economic powerhouses.

Persons: Margrethe Vestager, Vestager, Silvia Amaro Organizations: European Commission, European, CNBC, EU, EV, U.S Locations: Brussels, Belgium, China

☆ Apple has 'very serious' issues under sweeping EU digital rules, competition chief says
▼ + stars: | 2024-06-18 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Apple has a number of "very serious" issues under the European Union's sweeping rules aimed at reining in Big Tech, the bloc's competition chief Margrethe Vestager told CNBC on Tuesday, following reports that regulators are preparing charges against the iPhone maker. In March, the European Commission, the EU's executive arm, opened a probe into Apple, Alphabet and Meta, under the sweeping Digital Markets Act (DMA) tech legislation that became applicable this year. "We have a number of Apple issues, I find them very serious. I was very surprised that we would have such suspicions of Apple being non-compliant," Vestager told CNBC's Silvia Amaro. Apple did not immediately respond to a CNBC request for comment.

Persons: Margrethe Vestager, Vestager, CNBC's Silvia Amaro, Apple Organizations: Apple, CNBC, European Commission, Markets Locations: Big Tech

☆ China probes European pork prices after EU hikes tariffs on its electric cars
▼ + stars: | 2024-06-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Beijing has launched an investigation into prices of pork from the European Union, targeting a major EU food export just days after Brussels hiked tariffs on electric vehicles from China. A hike in import tariffs could be very costly for European pork producers if it ends up hurting demand in China, the world’s largest pork market and the main destination for EU pork exports. The EU is the second-biggest pork producer after China. According to EU customs data, the bloc exported more than €2.5 billion ($2.7 billion) worth of pork, including offal, to China last year. Beijing had been widely expected to use targeted measures to try to dissuade EU officials from permanently adopting higher tariffs on electric cars imported from China, a decision the EU must make by November.

Persons: Olof Gill, Gill, ”, Xu, Maisie Linford Organizations: London CNN —, European Union, China’s Ministry of Commerce, EU, European Commission, World Trade Organization, WTO Locations: London CNN — Beijing, Brussels, China, Beijing, Spain, Netherlands, Denmark, France, Europe

☆ Nigel Farage: The US-style migration debate taking over Britain’s election
▼ + stars: | 2024-06-16 | by ( Rob Picheta | ) edition.cnn.com time to read: +14 min

“It’s a bit like God’s waiting room.”But Clacton is the front line of Britain’s migration debate. The Reform leader uses divisive language on migration, warning supporters of what he calls an "invasion" of asylum seekers. Despite years of tough rhetoric and policies aimed at deterring the arrival of asylum seekers – devised largely to placate Farage’s supporters – Britain’s asylum system is creaking. Laws prevent most asylum seekers from working, so while taxpayers fund their accommodation, they cannot contribute formally to the economy. That could widen even further the chasm in understanding between his voters and Britain’s asylum seekers, experts fear.

Persons: ” Danny Botterell, Nigel Farage, BEN STANSALL, Donald Trump, Nigel, ” Botterell, “, Farage, ” Farage, –, Rob Picheta, CNN Britain’s, Rishi Sunak’s, ” Zoe Gardner, “ Farage, “ They’ll, ”, Louise Brockwell, Danny Botterell, David Cameron –, Europe –, Sunak, Cameron, Farage’s, ted Britain’s, France –, ” Gardner, Masood, they’re, ” Masood, Brexit, Douglas Carswell, ” Carswell, ” “ There’s, Carswell, Bob Brace, Farage's, hasn’t, Jack, can’t, you’re, Bridget Tyril, Roy Whitehead, Keir Starmer, “ It’s, they’ve, Karen French, “ I’ve, He’s, James Johnson, Theresa May’s, pollster, Queen Elizabeth II, restauranter Dean Coles, Jehosh, Gardner Organizations: England CNN —, Seagulls, CNN, Getty, Clacton, Labour, Brexit Party, Tories, Jays, Sky News, Times, Home Office, Conservative, UKIP, EU, Brexit, Mississippi Center for Public, John, People, Trump, Downing, Partners, “, Conservatives Locations: Clacton, England, Clacton Pier, Europe, ”, London, “, AFP, United States, Britain, Westminster, India, France, Bibby Stockholm, Kent, Afghanistan, UAE, Essex, Jaywick, It’s France, Netherlands, Germany

☆ America’s top central banker says the job market is back to normal. Is that true?
▼ + stars: | 2024-06-16 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Washington CNN —America’s top central banker recently said the job market now looks the way it did before the Covid-19 pandemic drastically upended society. Before the Bell spoke with Julia Pollak, chief economist at jobs site ZipRecruiter, about her views of the job market. Before the Bell: Do you agree with Chair Powell’s view that today’s job market is back to a pre-pandemic normal? Why is the job market slower now? The number of job openings is higher than it was by around 15% or so, but online job postings are actually lower by ZipRecruiter’s count.

Persons: Washington CNN —, “, Jerome Powell, Powell, it’s, Bell, Julia Pollak, they’re, They’re, Olesya Dmitracova, Emmanuel Macron, Read, Patrick Harker, Lisa Cook, Tom Barkin, Susan Collins, Adriana Kugler, Lorie Logan, Alberto Musalem, Goolsbee Organizations: CNN Business, Bell, Washington CNN, Fed, Labor, EU, National, New York Fed, Manufacturing Index, Reserve Bank of Australia, US Commerce Department, Federal Reserve, National Association of Home Builders, Accenture, Kroger, Darden, Bank of England, US Labor Department, Philadelphia Fed, Richmond Fed, Global, National Association of Realtors Locations: Washington, France, Wells Fargo

☆ Barricades, betrayal and bust-ups: Macron triggers a wild week in French politics
▼ + stars: | 2024-06-15 | by ( Joseph Ataman | ) edition.cnn.com time to read: +8 min

French President Emmanuel Macron promptly turned the country on its head by announcing a snap legislative election. Marine Le Pen addresses her supporters alongside National Rally President Jordan Bardella during an event on Sunday following the European elections. Marion Marechal addresses supporters of her party, Reconquest, alongside party president Eric Zemmour, left, on Sunday. In his statement on X, formerly Twitter, he refuted Marechal’s accusations that he had sunk a deal with National Rally. The fact of Ciotti’s endorsement, even if rejected by others in his traditionalist party, indicates how far National Rally has moved into mainstream politics.

Persons: defenestrated, Emmanuel Macron, “, ”, there’s, acolyte Jordan Bardella, Macron’s, Jordan Bardella, Julien de Rosa, Eric Ciotti, Republicans –, –, Le Pen’s, Valerie Pecresse, Ciotti, Stephane de Sakutin, Marion Marechal, Eric Zemmour, Marechal, Zemmour, “ Let’s, BFMTV, “ She’s, Ian Langsdon, Le, Julen Chavin Organizations: Paris CNN —, National, National Rally, Republicans, Paris, Facebook, “, Getty Locations: France, France’s, AFP, Paris, Thusrday

☆ Markets fear the French far right could trigger a financial crisis
▼ + stars: | 2024-06-14 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +5 min

President Emmanuel Macron called the snap elections Sunday after his party lost to the far right in a vote for EU lawmakers, a shock move that rattled markets for French stocks and government bonds. There has been widespread speculation since then that the National Rally, the party of far-right doyenne Marine Le Pen, is poised to become the most powerful force in parliament, unseating Macron’s centrist bloc. The risk of something similar happening in France is real, according to the country’s finance minister, Bruno Le Maire. “This comes down to the (parties’) plans that are on the table, whether we can, yes or no, finance this debt,” Le Maire said. The National Rally has promised to raise public spending and slash VAT on electricity and fuel.

Persons: Emmanuel Macron, Pen, ”, Truss, Bruno Le Maire, Le Maire, “, ” Le Maire, ’ jitters, Ludovic Marin, La Tribune Dimanche, Frank Gill, Moody’s, ” Joseph Ataman, Mark Thompson Organizations: London CNN —, EU, National, ‘, AAA, Getty Images Stock, haven’t, CNN, BFMTV, La Tribune, National Rally, European Central Bank, ECB Locations: France, ‘ France, French, Portugal, Europe, Italy, AFP, Paris, London

Search resuls for: "BLOC"

25 mentions found