The EU shouldn’t borrow more to compete with US green subsidies

BRUSSELS — Germany said Europe should refrain from borrowing more money to compete with US green subsidies or its competitiveness will be threatened. The EU has been vocal about its concerns over the US Inflation Reduction Act (IRA), saying its subsidies for North American car manufacturers breach international trade rules and threaten European businesses. European … Read more

Brussels gets ready to dump its free trade ideals – POLITICO

The last big defender of rules-based open trade — the European Union — is about to fall. It is happening in slow motion and the impact will be painful. If the world’s largest trading bloc gives up on the concept of free trade, the entire global economy will be hurt. But such an outcome seems … Read more

UK takes fresh stab at internet rules as EU framework surges ahead – POLITICO

LONDON — The United Kingdom wants to police the internet. Shame the European Union got there first. Brexit was supposed to let Britain do things quicker. But less than a month after the 27-member bloc’s Digital Services Act (DSA) went into force, London is still struggling to cobble together its own version of the rulebook, … Read more

Inside the summit aiming to heal the EU-US trade rift – POLITICO

Press play to listen to this article Voiced by artificial intelligence. The transatlantic reset between Brussels and Washington is on life support. After four years of discord and disruption under Donald Trump, hopes were high that Joe Biden’s presidency would usher in a new era of cooperation between Europe and the US after he declared: … Read more

Moore County: FBI joins investigation into North Carolina power outage caused by ‘intentional’ attacks on substations as officials work to determine a motive and suspect

CNN — With no suspects or motive announced, the FBI is joining the investigation into power outages in a North Carolina county believed to have been caused by “intentional” and “targeted” attacks on substations that left around 40,000 customers in the dark Saturday night, prompting a curfew and emergency declaration. The mass outage in Moore … Read more

Three pharmaceutical stocks were top performers last week

Global stocks rose last week, tracking US stocks as Wall Street’s major indexes closed with weekly gains. The MSCI World index was up about 1% over the week, and all three US indexes also saw weekly gains, with the Nasdaq posting the largest increase. Market observers attributed the buoyancy to investors being increasingly able to … Read more

Meta faces record EU privacy fines – POLITICO

This Christmas is bound to be an expensive one for US tech giant Meta. The Big Tech firm looks set to soon face a huge regulatory bill for all three of its social networks, Facebook, WhatsApp and Instagram. Europe’s privacy regulator body, the European Data Protection Board, is expected to issue decisions on Monday that … Read more

Woman injures six deputies at New Orleans airport: reports

Officials say a woman injured six sheriff’s deputies while refusing to exit a plane at an airport in Louisiana early Thanksgiving Day, The Times-Picayune/The New Orleans Advocate reported Saturday. Authorities said the 25-year-old woman bit, kicked and spit on Jefferson Parish sheriff’s deputies at Louis Armstrong New Orleans International Airport, according to local news reports. … Read more

How China COVID protests evolve ‘important to Xi’s standing’ – POLITICO

A wave of Chinese demonstrations against Beijing’s draconian COVID policies is testing President Xi Jinping, and how they develop from here “will be important to Xi’s standing,” the US’s top intelligence official said. The spread of angry protests and the government’s repressive response to them are “countering the narrative that he likes to put forward, … Read more

OPEC+ oil producers face uncertainty over Russian sanctions

FRANKFURT, Germany — The Saudi-led OPEC oil cartel and allied producing countries, including Russia, are expected to decide how much oil to supply to the global economy amid weakening demand in China and uncertainty about the impact of new Western sanctions against Russia that could take significant amounts of oil off the market. The 23-country … Read more