Biden’s IRA has left Europe blindsided. And playing catch-up could lead to 2 big mistakes

US President Joe Biden, front, and Ursula von der Leyen, president of the European Commission. Bloomberg | Bloomberg | Getty Images The European Union is working against the clock to create a program to rival President Joe Biden’s unprecedented climate subsidies. But it’ll face two key issues in the process. The EU had, for a … Read more

South Korea posts the worst trade deficit in its history

05 November 2022, South Korea, Pusan: Containers are loaded from the container freighter “Alula Express” at Busan Newport International Terminal, one of the largest container ports in the world. Photo: Bernd von Jutrczenka/dpa (Photo by Bernd von Jutrczenka/picture alliance via Getty Images) Picture Alliance | Picture Alliance | Getty Images South Korea recorded a trade … Read more

U.S., Chinese and Russian officials tour Africa as charm offensive gathers pace

Janet Yellen, US Treasury secretary, during a news conference with Enoch Godongwana, South Africa’s finance minister, at the National Treasury in Pretoria, South Africa, on Thursday, Jan. 26, 2023. Waldo Swiegers | Bloomberg | Getty Images Russian Foreign Minister Sergei Lavrov, new Chinese Foreign Minister Qin Gang and US Treasury Secretary Janet Yellen have all … Read more

Diamond Sports Group $8.6B in debt, faces bankruptcy

Image: Getty Images MLB’s biggest problem in the last few years is that too many teams have not really cared about whether their teams win or lose. They’ll say all the right things, and maybe make just enough signings or trades to fool their idiotic portion of their fanbases into buying tickets or for a … Read more

Boeing (BA) earnings Q4 2022

A Boeing 747-8F operated by AirBridgeCargo takes off from Leipzig/Halle Airport. Jan Woitas | Picture Alliance | Getty Images boeing posted a $663 million loss for the fourth quarter as supply chain issues weighed on results despite a rebound in aircraft sales and deliveries that drove up revenue. Airlines and aircraft manufacturers have benefited from … Read more

Brazil, Argentina to Start Work on Creation of Common Currency This Week: Report Brazil, Argentina to Start Work on Creation of Common Currency This Week: Report Brazil, Argentina to Start Work on Creation of Common Currency This Week: Report Brazil and Argentina will announce the launch of preparatory work on the creation of a common currency this week to boost regional trade and reduce their reliance on … Read more

France says it’s diverging with Washington on Beijing ties

French Minister for the Economy and Finances Bruno Le Maire spoke at a CNBC panel in Davos. Ludovic Marin | Afp | Getty Images DAVOS, Switzerland — The European Union does not see eye-to-eye with the United States when it comes to opposing China, the French finance minister told CNBC Friday. Speaking at a panel … Read more

Larry Summers on his top risks

Economist Larry Summers would place better than 50-50 odds on the world being shaken by another Covid-scale event within the next 15 years. The Harvard professor and former US treasury secretary shared what he believes are the world’s biggest near-term risks during a CNBC-moderated panel on the last day of the World Economic Forum in … Read more

Still ‘discriminatory’ measures in US inflation reduction act: EU’s Valdis Dombrovskis

The European Union still believes President Joe Biden’s Inflation Reduction Act discriminates against companies in the bloc, its top trade minister said Thursday. However, Valdis Dombrovskis told CNBC that the EU was engaged in ongoing negotiations with US officials that had allayed only some of its concerns so far. He noted he met with US … Read more

The threat of a transatlantic trade war is dominating Davos

Trade tensions between the EU and the US are dominating the talk in Davos. Anadolu Agency | Anadolu Agency | Getty Images DAVOS, Switzerland — It’s the talk of the town. Transatlantic trade tensions are dominating conversations at the World Economic Forum this week. On the one hand, European officials are saying they will come … Read more