Italy's Meloni warns EU green policies risk 'industrial desertification'
Speaking after meeting German Chancellor Friedrich Merz, Meloni said the European Union's push towards electrification, particularly in the automotive sector, risked undermining the continent's manufacturing strength.
"I have often said that in a desert there is nothing green," Meloni told reporters in Rome. "Before anything else, we must fight the desertification of European industry."
She said that alternative fuels such as biofuels and hydrogen must play a central role in Europe's green strategy.
Meloni criticised the EU's past regulatory approach as too inflexible, saying it had "crushed" sectors like the automotive industry. She also expressed concern that Europe was depending on electric vehicle supply chains dominated by non-European countries, calling this a strategic vulnerability.
"I continue to believe it is counterproductive to focus solely on the electric transition, where the supply chains are not controlled by Europe, but by other actors," she said.
Meloni urged the European Commission to go further in revising key aspects of the so-called Green Deal, including new emissions calculations that account for the entire production cycle of a vehicle, not just tailpipe emissions.
The European Parliament earlier this month voted to soften rules for European automakers, meaning they will not have to comply with EU CO2 emissions targets for cars and vans that could have led to fines of up to 15 billion euros ($17 billion).
Following heavy lobbying, the European Commission proposed allowing automakers to meet the targets based on their average emissions over the period 2025-2027, rather than just this year.
Italy and Germany — Europe's two largest manufacturing economies — should lead efforts to restore competitiveness, Meloni said, adding that the automotive sector was one area where bilateral cooperation could make a decisive impact.
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CNN
16 minutes ago
- CNN
Live updates: Trump-Putin summit ends without concrete deal on Ukraine
Update: Date: 20 min ago Title: Analysis: No deal in Alaska, but Putin still walks away with some big wins Content: Ukraine could have had a worse night. No deal was cooked up without them. US President Donald Trump looked upset and tired. Perhaps because Russian President Vladimir Putin appeared unbowed, still talking about the 'root causes' of the war, and sounding unreformed. In what sounded like a threat, he even warned Kyiv and its European allies to not meddle in whatever ongoing process he believes he has dragged Trump into. 'We expect that Kyiv and European capitals will perceive all this in a constructive manner and will not create any obstacles, will not make attempts to disrupt the emerging progress through provocations and behind-the-scenes intrigues,' Putin said. Trump's call to Kyiv and its NATO allies may present some sort of framework that Putin deemed an 'agreement,' but ultimately in the look on Trump's face and his words, it was clear he made no significant deal that he thinks will fly. The two didn't even have lunch together and Putin raced out on his plane. The hardest bits of negotiations are the bits that are left to be agreed at the end. And Trump's statement that there were some 'big' things left unsolved suggests little movement on issues like what land Putin wants and a ceasefire. But there are two big wins here for Putin. First, the remarkable vision of a red carpet welcome to the United States and a ride in 'the Beast' — which both present as an extraordinary form of reputational rehabilitation for an alleged war criminal. It was a horrific sight for many Ukrainians; soured further still by the Kremlin head calling Ukraine a 'brotherly' nation, despite murdering its civilians for three and a half years. The second win is time. Putin has bought more for his forces to advance across the frontline. It is unclear if Trump is sufficiently riled that secondary sanctions may follow in the days ahead. But Putin did not seem to behave as if he was in a hurry, suggesting further meetings and ongoing work. Time matters as Putin's summer offensive is close to turning incremental gains into strategic wins. In the end, Ukraine will wake up with its world unchanged. A ghastly world, but with no sudden US-Russian rapprochement or deal to try and swallow. Update: Date: 20 min ago Title: Key lines from Trump and Putin's joint press briefing Content: No one really knows what Presidents Donald Trump and Vladimir Putin discussed yesterday during their lengthy summit in Alaska, as the two did not take questions from reporters after a joint news briefing. But the closed-door talks were ultimately characterized positively by both leaders, even though a critical deal on ending the war in Ukraine was not reached. Here are key lines from the briefing that you should know: Breaking tradition: Putin began remarks at the briefing by acknowledging that US-Russia relations have suffered in recent years. Usually when an American president hosts a foreign counterpart, a joint news conference would begin with remarks from the US leader followed by his guest. Progress on reaching a deal: Trump said he and Putin 'made some headway' and 'great progress' in their bilateral meeting. Still, he added, 'there's no deal until there's a deal.' Putin said the primary causes of the war must be eliminated for the war in Ukraine to end. The Russian leader also told Ukrainian and European leaders not to interfere with 'the emerging progress.' Positive summary: Negotiations between Putin and Trump were held in a 'respectful, constructive and mutually respectful atmosphere,' Putin said. Trump said they had 'an extremely productive meeting, and many points were agreed to.' Other topics mentioned: Putin said he agrees that the security of Ukraine should be ensured. He also claimed at one point that the war in Ukraine would not have happened had Trump been president in 2022. What's next: Trump said he has various calls to make following the summit — some of which include calls to NATO, Ukrainian President Volodymyr Zelensky and other appropriate officials. CNN's Aditi Sangal, Nina Subkhanberdina, Darya Tarasova, Michael Rios, Kit Maher, Tori B. Powell, Kevin Liptak, Katharina Krebs, Mitchell McCluskey, and Adam Cancryn contributed reporting. Update: Date: 20 min ago Title: Trump says striking a deal now up to Zelensky Content: President Donald Trump is putting the onus on Ukrainian President Volodymyr Zelensky to negotiate a ceasefire, saying yesterday evening that there would soon be a meeting set up between Zelensky and Russian President Vladimir Putin. 'Now it's really up to President Zelensky to get it done,' Trump said in a Fox News interview following his sitdown with Putin in Alaska. 'They're going to set up a meeting now between President Zelensky and President Putin and myself, I guess.' Trump during the interview declined to detail the final issues that are holding up a deal, saying only that he wants 'to see what we can get done.' But despite not reaching an agreement on yesterday, he touted the summit as a success, ranking the meeting a 10 out of 10, 'in the sense that we got along great.' 'I want to make sure it gets done,' he added. 'And we have a pretty good chance of getting it done.' Update: Date: 20 min ago Title: Analysis: Russian media ecstatic as US rolls out the red carpet for Putin Content: In Russia, the reaction to the summit between President Vladimir Putin and US President Donald Trump has been more than positive. Russian media was ecstatic when the Russian leader received applause from the US president as the red carpet was literally rolled out for Putin at Joint Base Elmendorf-Richardson in Anchorage, Alaska. 'For years they have been talking about the isolation of Russia, and today they saw the red carpet that greeted the Russian president,' Maria Zakharova, the spokesperson for the Russian foreign ministry wrote on social media. While both Trump and Putin said agreements have been reached, it's unclear what exactly those are. Meanwhile, Putin does not appear to have backed down from Russia's core demands. The Russian leader in his remarks after the meeting said any deal needs 'to consider all legitimate concerns of Russia and to reinstate a just balance of security in Europe and in the world on the whole.' It's not clear how much progress was made toward a ceasefire in Ukraine, but both Trump and Putin have said they ultimately want to normalize relations between the US and Russia and they want to meet again. 'Next time in Moscow,' Russia's leader said. Update: Date: 20 min ago Title: Eastern European officials react with skepticism to Putin's comments Content: Senior government officials in Eastern Europe have reacted with skepticism to comments made by Russian President Vladimir Putin following the Alaska summit. While saying he was interested in ending the conflict, Putin said the primary causes needed to be 'eliminated' for that to happen, adding that the 'situation in Ukraine' had to do with 'fundamental threats to (Russia's) security.' In a post on X on Saturday morning local time, Lithuanian Defense Minister Dovile Sakaliene accused Putin of 'more gaslighting and veiled threats,' a reference to the Russian leader issuing a warning to Ukraine and Europe not to 'sabotage' progress made at the summit. Czech Foreign Minister Jan Lipavsky said in a statement that he welcomed US President Donald Trump's efforts but doubted Putin's interest in a deal, according to Reuters. 'If Putin were serious about negotiating peace, he would not have been attacking Ukraine all day today,' he said. Update: Date: 20 min ago Title: US and Russia to continue building relations despite "resistance," top Kremlin negotiator Kirill Dmitriev says Content: Russia's top economic envoy Kirill Dmitriev said the US received Russia 'very well' in Alaska and that the two countries would continue building relations despite 'resistance.' 'The US-Russia summit in Alaska has definitely been productive,' Dmitriev said, adding that there were 'lots of issues that we discussed and many we agreed.' 'Some of them are to be agreed and definitely it's very important that President (Donald) Trump outlines a significant economic potential of cooperation between the US and Russia,' Dmitriev said. 'We will continue building US-Russia relations going forward despite lots of the resistance to this, but we will continue strengthening US-Russia ties.' Update: Date: 21 min ago Title: "It was positive that there was no deal," CNN's Fareed Zakaria says Content: The red-carpet welcome in Alaska for Russian President Vladimir Putin signals that US President Donald Trump 'thinks Putin is, you know, an equal,' says CNN's Fareed Zakaria. Trump treated Putin like 'this big shot on the world stage, and he's been treated by the rest of the west as a kind of pariah,' Zakaria said, referring to an ICC war crimes warrant issued for the Russian president's arrest that restricts his movements around the globe. 'So there was a lot of the atmospherics that were cringeworthy,' he said. However, Zakaria said that in his analysis, 'it was a positive that there was no deal.'I think everyone was worried that there was going to be a deal in which Trump was going to make major concessions. I don't think anyone thought Putin was going to make any concessions. The fear was that Donald Trump was going to cave in the various ways — sell out Ukraine, sell out Europeans. And he didn't do that. And so I think, you know, I'm at least relieved,' Zakaria said. Update: Date: 20 min ago Title: Trump and Putin skipped Q&A because 'exhaustive statements were made,' Kremlin spokesperson says Content: US President Donald Trump and his Russian counterpart Vladimir Putin skipped answering questions at yesterday's joint news conference because their statements said it all, according to the Kremlin's spokesperson. 'Exhaustive statements were made,' Dmitry Peskov said when asked why the two leaders only delivered remarks at the news conference, according to Russia's RIA Novosti news agency. 'The conversation is really very positive, and the two presidents spoke about it. This is the very conversation that allows us to confidently continue moving forward together on the path of seeking resolution options,' Peskov said, RIA reported. Update: Date: 11 min ago Title: Trump says he and Putin made "great progress" toward a deal and that he's calling Zelensky and NATO leaders Content: US President Donald Trump said he and Russian President Vladimir Putin 'made some headway' and 'great progress' in their bilateral meeting, but added that 'there's no deal until there's a deal.' 'I will call up NATO in a little while. I will call up the various people that I think are appropriate. And I'll, of course, call up President [Volodymyr] Zelensky and tell him about today's meeting. It's ultimately up to them,' Trump said after today's summit in Anchorage, Alaska.'We had an extremely productive meeting, and many points were agreed to,' Trump said, adding, 'We didn't get there, but we have a very good chance of getting there.' Trump added that Ukraine would have to 'agree' with what Secretary of State Marco Rubio, special envoy Steve Witkoff and others in his administration discussed with Putin today, though he did not delve into specifics on any framework for a deal. Trump and Putin took no questions after their statements. Putin kicked of remarks and spoke for about eight minutes. Trump, who is known for typically longer and at times free-wheeling news conferences, only spoke for about four minutes. 'I'm going to start making a few phone calls and tell them what happened,' Trump said.
Yahoo
19 minutes ago
- Yahoo
Davos founder Schwab cleared of misconduct by WEF probe
An investigation conducted by the World Economic Forum's board on Friday cleared the body's founder Klaus Schwab and his wife of wrongdoing, after a probe into whistleblower complaints. "Following a thorough review of all facts, the Board has concluded that ... there is no evidence of material wrongdoing by Klaus Schwab," the board announced. In April, the Wall Street Journal reported that an anonymous letter sent to the prestigious institution's board of directors accused Schwab and his wife Hilde of mixing their personal affairs with Forum resources without proper oversight. A spokesperson for Schwab had immediately denied all these accusations, but the 87-year-old said he would step down as head of the WEF. The board of the WEF, best known for its annual summit for political and business elites in the luxury Swiss ski resort of Davos, asked a law firm to carry out an independent probe of the allegations. "Minor irregularities, stemming from blurred lines between personal contributions and Forum operations, reflect deep commitment rather than intent of misconduct," the statement said. "The Board has taken action to address all issues identified throughout the investigation, including strengthening the governance in general." Also on Friday, the WEF said it will be replacing former Nestle CEO Peter Brabeck-Letmathe as interim chairman of the board. He is being replaced by the billionaire duo of Larry Finck, the American co-founder of the investment fund Blackrock, and Andre Hoffmann, the Swiss vice-chairman of the pharmaceutical group Roche, according to a separate statement. The letter alleged Schwab had asked junior employees to withdraw "thousands of dollars" from ATMs for him and used organisation funds to pay for massages during hotel stays. But the probe found nothing improper in his conduct. Schwab was born in Ravensburg, Germany, on March 30, 1938. He was married with two children. He was a professor of business management at the University of Geneva, where he taught until 2003, when in the early 1970s he launched the "European Management Forum," the precursor to the current Forum. He expanded it by inviting American business leaders, successfully building a huge network of the world's economic and political elite, transforming the event into a major high-level international gathering dedicated to business relations and the exchange of ideas. The Forum's success has led to the satirical concept of "Davos Man", the supposed avatar of a globalised elite of the stateless ultra-rich committed to free trade and high-minded seminars on corporate social responsibility. Like other international organisations, the WEF has spurred conspiracy theories alleging that it was seeking to establish a "new world order". Elon Musk, the world's richest man and once an influential member of US President Donald Trump's inner circle, accused Schwab on his social media platform X of wanting to "be the emperor of the Earth." vog/gv/dc
Yahoo
22 minutes ago
- Yahoo
Warning signs in Europe's job market: Workers now brace for tariff effects
Much attention has been given to how US import tariffs might hit Europe's industries and corporate giants as the once-solid transatlantic trading relationship faces one of the biggest challenges of the modern era. One area that has been largely ignored — the fate of workers — could also suffer, as ripples in the EU's economic stability lead to a reduction in job opportunities and weakened employment stability. Here's an overview of what to expect in the months ahead. Job vacancy rate One indicator of labour market health is the rate at which vacancies appear, a sign of how stable businesses feel. When lots of jobs are up for grabs, it tends to be a sign that companies are confident and ready to hire more people. When openings start to dry up, it usually means they're getting cautious. If vacancies are rising while unemployment is low, workers have more choice and bargaining power as demand is high relative to supply. But when available job offers fall, it's often the first hint that the labour market is slowing down. Employers generally hit pause on hiring well before they start letting people go, which is why vacancy rates are such an important early clue as to what's coming. And right now, the data shows risks ahead. In first-quarter figures released by the European Commission in June, there was a slight drop in the job vacancy rate, which came in at 2.4% in the eurozone. That's down from 2.5% in the final quarter of 2024. When looking at the yearly change, the drop is more significant, as the rate for the first quarter of 2024 was 2.9%. As seen in the graph below, the COVID-19 pandemic had the most pronounced impact on job vacancies, much more than the 2008-2009 economic crisis. While the market recovered somewhat in 2021 and 2022, vacancy rates are now dropping again. Vacancy rates dropped the most in Germany, Greece, Austria and Sweden, indicating that employers are growing more reluctant, if only marginally, to hire more people. For workers, a falling vacancy rate often means fewer opportunities to change jobs, less leverage to negotiate higher pay, and a longer wait to re-enter the market if they get laid off. If the decline seen at the start of 2025 continues, workers could find themselves in a much tougher bargaining position by the end of the year. Hours worked and overtime Another important indicator is the squeeze on working hours or indicators that show employers are cutting back shifts, a step often taken before moving to layoffs or instituting a hiring freeze. Overtime hours also decrease when employers trim shifts in response to falling demand or input shortages. In the EU, in 2024, people aged 20-64 years worked 36 hours on average per week, including full- and part-time work. This number refers to the hours people worked in their main job in the reference week. Countries with the longest working week were Greece at 39.8 hours, Bulgaria at 39, Poland at 38.9 and Romania at 38.8. By contrast, when it comes to European Union countries, the Netherlands had the shortest working week at 32.1 hours, followed by Austria, Germany and Denmark (all with 33.9 hours). The number of hours worked decreased by 0.3% in both the eurozone and the European Union in the first quarter of 2025, compared with the previous quarter, according to Eurostat. Compared with the same quarter of the previous year, hours worked increased by 0.1% in the eurozone and decreased by 0.2% in the EU. Fewer hours on the job does not just mean more free time. It often means less pay and fewer benefits, especially for hourly workers. If hours continue to shrink, the impact will be felt fastest among lower- and middle-income households already squeezed by increased living costs. Even if employment levels hold steady, underemployment — when workers have a job but can't get the hours they want — can rise. In the first quarter of 2025, 10.9% of the EU's extended labour force was underutilised, amounting to around 23.6 million people. This suggests that the erosion in job quality can run deeper than headline unemployment figures might immediately show. Labour rights Europe's institutional safeguards for workers are deteriorating, which is worrying when considering the economic shocks that could potentially be caused by tariffs in the future. The Labour Rights Index for 2024 flags gaps in legislation based on its assessment of labour protections across the world. It evaluates aspects like freedom of association, employment security and family responsibilities through a 0–100 scoring system. In Europe, countries such as Norway, Sweden, Finland, France and Italy score 94, while countries such as Germany and the UK score 88.5 and 88 respectively. While many EU countries score highly on paper, the index highlights persistent legislative gaps in areas such as protection against unfair dismissal and equal treatment for non-standard workers. These gaps mean that even in stable economic periods, large groups of workers remain less shielded from sudden job loss or deteriorating conditions. Related Years at work: Which European countries have the longest average working life? UK job vacancies fall at a slower pace while wage growth holds steady Meanwhile, the ITUC Global Rights Index 2025 shows how these legal weaknesses translate into reality, and tracks violations of labour rights such as restrictions on strikes, the formation of unions, and judicial access and protections on a yearly basis. According to ITUC, Europe saw its worst-ever average score in 2025, at 2.78, compared to 2.73 in 2024 and 2.56 in 2023. "Europe continued a rapid deterioration from 1.84 in 2014 — the biggest decline seen in any region worldwide over the past 10 years," the ITUC report highlights. According to the ITUC index, "nearly three-quarters of European countries violated the right to strike and almost a third of them arrested or detained workers. More than half were denied or restricted access to justice — a sharp increase from 32% in 2024." What does this mean? The economic signals of a slowing labour market — falling vacancy rates, shrinking working hours, and rising underemployment — suggest that workers may have less power to protect themselves just as their jobs and incomes come under strain. In other words, tariffs and other trade shocks could land much harder in 2025, not simply because the economy is cooling, but because the institutional defences that once helped workers weather downturns are eroding at the same time. With early warning signs already visible, the next few quarters will reveal whether these shifts are temporary tremors or the start of a deeper downturn for Europe's workforce. If the combination of tariff pressure and eroding rights persists, the cost could be measured not only in lost jobs, but in lasting damage to workers' bargaining power for years to come. Error while retrieving data Sign in to access your portfolio Error while retrieving data
