Tag: Investment
Not so fast on electric cars, says UK’s business minister – POLITICO
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LONDON — Business and Trade Secretary Kemi Badenoch is hoping to persuade Cabinet colleagues to soften new rules on electric cars, as the row over Britain’s net-zero targets rumbles on.
U.K. automakers could be hit with fines of up to £15,000 per car if they miss production goals on electric vehicles (EVs) next year.
But Badenoch — a Conservative rising star often talked about in Westminster as a future
Billionaire rethinking new UK green investment after Sunak backs ‘failed tech’ carbon capture – POLITICO
LONDON — An Australian billionaire says he may step back from investing in U.K. green technologies after the government announced new backing for carbon capture and storage (CCS) technology.
Andrew Forrest, an international investor and climate philanthropist, said U.K. government plans to put billions of pounds into CCS meant “putting Britain’s hopes [on] failed technology.”
Prime Minister Rishi Sunak confirmed on Monday that the government would be investing in CCS projects in Northeast Scotland and the Humber.
The government has
Von der Leyen blasts Beijing in Manila speech – POLITICO
European Commission chief Ursula von der Leyen used a speech in Manila on Monday to take aim at China, slamming Beijing for its increasingly militant stance in the Indo-Pacific and its failure to live up to international responsibilities on Ukraine.
Delivering a keynote speech at the Philippines Business Forum, von der Leyen said that China, a permanent member of the U.N. Security Council, “has yet to assume fully its responsibility under the U.N. Charter to uphold the sovereignty and territorial
What Happened to Hunter’s Lucrative Chinese Investment? Ask His ‘Sugar Bro’
If you’re Hunter Biden, it’s good to have friends . . . whether in Beijing or Hollywood.
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After summer heat, economic chill – POLITICO
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BRUSSELS — While Europe counts the cost of wildfires and record high temperatures, governments are facing up to a decidedly frosty fall and winter.
Buffeted by rising borrowing costs and a decline in business and consumer confidence, the eurozone economy is weakening rapidly. Interest rates this week were increased to record-equaling levels, inflation is falling but remains stubbornly high, and, on Friday, there came a fresh warning from the
Germany faces 5 tough years, economy minister warns – POLITICO
Germany faces five difficult years of green industrial transition that “will put a burden” on people, Economy Minister Robert Habeck warned — while urging his government to approve fresh subsidies to safeguard the country’s industrial base.
Reacting to a new report by the International Monetary Fund that projects Germany’s economy will shrink 0.3 percentage points this year, Habeck told German public broadcaster ARD on Wednesday evening, “The data certainly isn’t good.”
Germany’s statistical office had already warned in May that
The bellwether of globalization – POLITICO
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Elisabeth Braw is a senior fellow at the American Enterprise Institute and adviser at Gallos Technologies and a regular columnist for POLITICO.
Siemens is the quintessential representative of the globalized economy.
As soon as world leaders agreed on the Iran Nuclear Deal, it signed a €1.5-billion contract to modernize the country’s railways, only leaving after America’s withdrawal made it impossible for Western companies to stay. It remained in Russia
Senate Targets China, Voting to Restrict Farmland Purchases and U.S. Investment
The Senate on Tuesday voted overwhelmingly to block businesses based in China from purchasing farmland in the United States and place new mandates on Americans investing in the country’s national security industries, taking the first legislative steps of the new Congress to counter Beijing’s espionage activities and curtail its economic power.
The provisions, which would need to clear the House to become law, are a far cry from more ambitious efforts to target China’s economy through export controls and undermine
Is Kemi Badenoch still the future? UK Tories aren’t so sure – POLITICO
LONDON — It’s been quite a year for Kemi Badenoch, propelled from little-known minister to Tory leadership hopeful, to Cabinet big-hitter and beyond.
The U.K. business and trade secretary used last July’s Conservative Party leadership contest to launch herself from relative obscurity to political stardom, and 12 months later finds herself firmly seated within the top tier of Rishi Sunak’s ministers.
For many, Badenoch is now the next great hope for British conservatism, her right-wing sensibilities, dry sense of humor
Why Biden’s Investment Boom Is A Big Political Bet
When President Joe Biden visits South Carolina to tout a new solar-energy-manufacturing facility today, he will underscore a striking pattern: Some of the biggest winners from his economic agenda have been Republican-leaning places whose political leaders have consistently opposed his initiatives.
Centered on a trio of bills Biden signed in his first two years, the president’s economic program has triggered what could become the most concentrated burst of public and private investment since the 1960s. The twin bills Biden signed