The Global Economic News

The document released on Monday by the Department of Commerce focuses on software and devices that enable a vehicle to communicate with external sources, particularly for driving assistance and autonomous driving. The U.S. government wants to ban the sale of connected vehicles in the United States that incorporate Chinese and Russian technology, citing national security risks. This new measure is part of a tightening approach by President Joe Biden’s administration toward China. In mid-September, the United States also announced that electric cars imported from China would be taxed at 100% starting September 27. The document unveiled on Monday by the Department of Commerce targets software and devices that allow a vehicle to communicate with external sources, especially for driving assistance and autonomous driving. Before the announcement of these measures by the U.S. government, Beijing called such a ban “discriminatory” on Monday. “China opposes the broadening of the national securi...

Turkey Signed an LNG Delivery Agreement with TotalEnergies Turkey has signed a "long-term" agreement with the French group TotalEnergies for the delivery of liquefied natural gas (LNG) over ten years starting in 2027, Turkish Energy Minister Alparslan Bayraktar announced on Wednesday, September 18. "We have signed a long-term LNG agreement between our national company Botas and TotalEnergies," the minister said on the social network X. "With this agreement, which will be valid for 10 years starting in 2027," he explained, "sixteen LNG shipments amounting to approximately 1.6 billion cubic meters will be delivered annually." "Our long-term LNG agreements are of great importance to ensure the security of energy supply for our country and our region, increase the diversity of our resources, and provide flexibility in our energy supply," the minister emphasized. Turkey imports the majority of its gas consumption from Russia, as well as from...

Brussels authorized on Tuesday, September 24, the acquisition of a Czech telecom operator by an Emirati group, requiring the latter not to use public subsidies from Abu Dhabi to distort competition within the European Union. This acquisition was notified to the European Commission, the EU's competition watchdog, on April 26, and an investigation was opened on June 10. The Commission was examining whether the acquisition of PPF Telecom by Emirates Telecommunications (e&) had been favored by state aid. After its investigations, it concluded that the assistance e& received, in the form of loans, subsidies, and unlimited guarantees from the United Arab Emirates, had not distorted the acquisition process. However, fearing competitive distortions in the European market following the acquisition, the Commission demanded and obtained concessions. The Emirati group notably agreed to give up the unlimited state guarantees. Additionally, it will be prohibited from financing PPF’s acti...

Like any technological innovation, the cryptocurrency sector must be regulated, says Jeremy Allaire, co-founder of the American company Circle, which created one of the most popular cryptocurrencies in the world, during an interview with AFP. "We need to align technology with social objectives," says the CEO, who was in Paris, the headquarters of Circle in Europe, at the beginning of the week. Within the cryptocurrency family, Circle offers a slightly unique product, "stablecoins": USDC, a so-called stable cryptocurrency because it is pegged to the U.S. dollar. Currently, about $35.5 billion in USDC is in circulation. Circle has also created EURC, this time pegged to the euro. Like other cryptocurrencies, transactions are recorded on a decentralized ledger, the blockchain, rather than through a bank as with traditional currencies. However, while cryptocurrencies like Bitcoin experience significant price fluctuations, stablecoin creators aim for price stability. Stab...

Here are some notable acquisitions that have been completed in 2024 1. Microsoft's Acquisition of Activision Blizzard: After a lengthy regulatory review, Microsoft finalized its acquisition of Activision Blizzard for approximately $68.7 billion. 2. Broadcom's Acquisition of VMware: Broadcom completed its acquisition of VMware for around $61 billion, enhancing its software offerings. 3. NVIDIA's Acquisition of Arm: NVIDIA's acquisition of Arm was finalized after overcoming regulatory hurdles, aimed at bolstering its position in AI and semiconductor markets. 4. Salesforce's Acquisition of Slack: Salesforce completed its acquisition of Slack, further integrating collaboration tools into its cloud offerings. China 1. Tencent's Acquisition of Minor Entertainment: Tencent completed its acquisition of a majority stake in Minor Entertainment, expanding its entertainment portfolio. 2. Alibaba's Purchase of Sun Art Retail: Alibaba finalized its acquisition of the rema...

1. Samsung has focused heavily on its foldable series this year, with the "Galaxy Z Fold 6"  and "Z Flip 6" being the flagships in their lineup. These devices feature advanced display technology and enhanced durability, particularly targeting users interested in large screens that can fold into compact sizes. Additionally, Samsung continues to push its "Galaxy S24" series, emphasizing its advanced camera systems and AI-driven features. Samsung's wearable segment has also seen updates, including the "Galaxy Watch 7" series 【financial times】. 2. Apple has launched the iPhone 16 series, which features significant improvements in processing power thanks to the "A18 chip", and introduces new display technology for better energy efficiency and visual clarity. There is also a strong emphasis on the "Apple Watch Series 10", which now offers more health-related features such as glucose monitoring, a first for consumer smartwatches....

Focus on finance:  After securing an agreement on the progressive phase-out of fossil fuels, this year's UN climate negotiations are focusing on unlocking the trillions of dollars needed by developing countries to tackle the climate crisis. Climate Finance, a Priority for COP29 with Details Yet to Be Announced The main goal of COP29 in November in Baku, under Azerbaijan’s presidency, is challenging: How much money will developed countries commit to providing vulnerable countries to help them cope with extreme climate conditions? What is climate finance? There is no consensus definition. Broadly speaking, "climate finance" refers to any public or private money spent to achieve the goal of the Paris Agreement to “make financial flows consistent with low greenhouse gas emissions and climate-resilient development” (Article 2.1C). In practical terms, this includes all financing (public or private) that supports low-carbon economic development and adaptation: wind, solar, nucle...

Swedish telecommunications operator Telia will cut 3,000 jobs in 2024 out of nearly 20,000 positions to save 2.6 billion Swedish kronor (230 million euros) per year, the company announced in a statement on Wednesday.** The operator, present in the Nordic and Baltic countries, employed 19,370 people as of January 1st and will specifically cut 1,400 jobs in Sweden, where it employs 8,500 people, it said. This restructuring "aims to make Telia simpler and faster in decision-making," said Patrik Hofbauer, the group's CEO, as quoted in the statement. It should "also help grow our business and generate enough cash flow so that we can make the necessary investments and cover our dividend, as we remain committed to our dividend policy," he added. A restructuring charge of 1.4 billion kronor will be recorded in the accounts for the second half of this year. "Telia already holds strong positions in its markets," explained the operator, which nonetheless sees ...

Here’s a list of the top 10 green energy companies that have made significant achievements in 2024: 1. NextEra Energy    - Leading in renewable energy generation, particularly wind and solar. 2. Ørsted    - Major advancements in offshore wind projects. 3. Iberdrola    - Strong growth in renewable energy investments and infrastructure. 4. Enel    - Expansion in solar and wind energy markets globally. 5. Vestas Wind Systems    - Leading manufacturer of wind turbines with record installations. 6. First Solar    - Significant achievements in solar panel production and technology. 7. Brookfield Renewable Partners    - Expanding renewable power assets and projects. 8. Canadian Solar    - Growth in solar energy projects and manufacturing capacity. 9. EDP Renewables    - Increased investments in wind and solar energy across several countries. 10. Siemens Gamesa Renewable Energy     - Strong perfo...

List of 10 IT startups that have achieved record profits in 2024: 1. OpenAI    - Profit:*Significantly increased due to widespread adoption of AI. 2. Stripe    - Profit:Continued growth in online payment solutions. 3. Databricks    - Profit: Success in data analytics and AI technologies. 4. Notion    - Profit:Strong adoption as a productivity tool. 5. Snowflake    - Profit: Rapid expansion in data storage and analytics. 6. Discord    - Profit:Increased users and revenue from premium features. 7. Canva    - Profit: Growth in online design tools. 8. Zoom    - Profit: Resilience with ongoing use of communication tools. 9. Palantir Technologies    - Profit: Increased government and commercial contracts. 10. GitHub     - Profit:Growth in subscriptions and services related to software development. These companies have effectively capitalized on current trends and the growing demand in the tech ...