Latest news with #Delair
Russia Today
6 hours ago
- Automotive
- Russia Today
Paris wants to produce drones in Ukraine
Paris is pushing France's largest automaker, Renault, to establish a military drone production operation in Ukraine, the company has confirmed. The announcement comes as Kiev significantly intensifies drone attacks on civilian infrastructure inside Russia. 'We have been contacted by the Defense Ministry about the possibility of producing drones,' Renault said in a statement to several media outlets, including Reuters, on Sunday. Although 'discussions' on the issue have taken place, the company insisted that 'no decision has been taken at this stage,' and that it is awaiting further details from the ministry. French Defense Minister Sebastien Lecornu first revealed the plan on Friday, describing it as an 'unprecedented partnership' in an interview with broadcaster LCI. 'We are going to embark on a completely unprecedented partnership… to equip production lines in Ukraine to… produce drones,' Lecornu said, noting that the project would involve both a major carmaker and a smaller defense contractor. Renault could be tasked with setting up drone assembly lines 'a few dozen or hundreds of kilometers from the front line' in Ukraine, France Info reported on Sunday. According to the newspaper Ouest-France, the project could also involve Delair – a Toulouse-based drone manufacturer that supplies UAVs for border surveillance, reconnaissance, intelligence, and special operations forces. The company has previously delivered kamikaze drones to the French Defense Ministry, which were later sent to Ukraine. Lecornu described the initiative as a 'win-win' for Paris and Kiev, claiming no French personnel would be deployed to Ukraine. The production lines would be operated by Ukrainian workers, and the drones built for Ukraine's military would also be used by the French Armed Forces for 'tactical and operational training that reflects the reality' of modern warfare, he said. Kiev ramped up drone strikes on Russian civilian infrastructure in May, particularly targeting Moscow and other central regions. The peak came during the final week of the month, when 2,300 UAVs were shot down, according to the Russian Defense Ministry. Russian Foreign Minister Sergey Lavrov condemned the strikes as deliberate attempts to sabotage peace talks. Moscow has repeatedly warned that any weapons production facilities in Ukraine are considered legitimate military targets and subject to 'unequivocal destruction.'
Yahoo
19-02-2025
- Business
- Yahoo
Something has 'disappeared' in President Trump's social media posts: The stock market, says JPMorgan
President Donald Trump has long touted his love for the stock market and how strong stock prices reflect a robust US economy. Yet in his second stay in the White House, he's been posting less about stocks. JPMorgan strategist Antonin Delair studied 126 social media posts from Trump (mostly on Truth Social) since Election Day and found mentions of the stock market have mostly "disappeared." In his first term, Trump was "continuously" posting on positive US economic developments, such as lower unemployment, a higher stock market, or the creation of a new factory in a state, noted Delair. This time around, the president is more keen to share hot takes on the debt ceiling, government spending/efficiency, or tariff benefits. Out of 23,073 tweets in his first term, 156, or 57%, mentioned a strong stock market performance, per Delair. Since his reelection, Trump has mentioned the stock market only once on social media. Delair's work aimed to assess the impact of Trump's posts on the foreign exchange market. Only a small fraction of these posts, or 10% of the total 126, have been FX market movers. "Hawkish tariff posts can trigger a broad dollar rally, but the dovish ones (tariff delays, for instance) impact mostly the concerned currency," Delair said. Perhaps it makes sense that despite a stock market nearing a record, other matters are occupying more of Trump's social media time. The US budget deficit swelled to $1.83 trillion in fiscal year 2024, the highest amount outside of the COVID-19 period. Interest on federal debt exceeded $1 trillion for the first time. The deficit last rose 8%, or $130 billion, from the prior year. That level marked the third-highest federal deficit in US history. Enter the Elon Musk-led DOGE. The Tesla (TSLA) CEO and his DOGE team have been running roughshod through government agencies, aiming to cut jobs and programs it deems wasteful for the taxpayer. "I think this is critical for us," Salesforce (CRM) co-founder and CEO Marc Benioff told me regarding DOGE. "We have to get to a balanced budget faster. This must be a bipartisan issue. This is not a Republican or Democratic issue. It's an issue that has not been as strongly embraced by the last several presidents." While this is happening, Trump is shaping a tariff policy that may come to define the next four years of his presidency. The administration has already levied a 25% tariff on all imported steel and a 10% tariff on Chinese imports on top of existing duties. China retaliated, placing tariffs on select chips and metals. Trump recently agreed to pause 25% tariffs on Canada and Mexico until early March. On Tuesday, the president floated automotive tariffs of 25% — which could hammer US automakers like General Motors (GM) and Ford (FORD). "There's no question that tariffs at [the] 25% level from Canada, Mexico, if they're protracted, would have a huge impact on our industry, with billions of dollars of industry profits wiped out and adverse effect on the US jobs as well as the entire value system in our industry. Tariffs would also mean higher prices for customers," Ford CEO Jim Farley told analysts on an earnings call earlier this month. Brian Sozzi is Yahoo Finance's Executive Editor. Follow Sozzi on X @BrianSozzi, Instagram, and LinkedIn. Tips on stories? Email Sign in to access your portfolio
