Latest news with #Ferracci
Indian Express
2 days ago
- Business
- Indian Express
French ministers say EU-US trade deal has merits but is also unbalanced
French government ministers said a framework trade deal between the United States and European Union had some merits – such as exemptions for some key French business sectors such as spirits – but was nevertheless unbalanced. 'The trade agreement negotiated by the European Commission with the United States will bring temporary stability to economic actors threatened by the escalation of American tariffs, but it is unbalanced,' wrote French European Affairs Minister Benjamin Haddad on X. That view was echoed by France's industry minister Marc Ferracci, who said more talks – which could last weeks or months – would be needed before the deal could be formally concluded. Ferracci told RTL radio that more needed to be done in terms of rebalancing the EU's trade relations with the U.S. 'This is not the end of the story,' Ferracci told RTL.
Euractiv
6 days ago
- Business
- Euractiv
Belgium and France double down on nuclear power alliance
PARIS - Belgium and France have agreed to strengthen joint work on nuclear power following Brussels' decision to reverse its phase-out plan and go all-in on the zero-emissions technology – another sign of growing momentum for a European nuclear renaissance. The two countries will cooperate on reactor lifetime extensions, new projects including small modular reactors, research and development, strategic supply chains, and worker training, according to a declaration of intent signed in Paris on Wednesday by Belgian Energy Minister Mathieu Bihet and his French counterpart Marc Ferracci. Stronger together The partnership with France 'is based on a shared ambition to make nuclear power a strategic lever for a more sustainable, competitive and resilient Europe', the Belgian energy ministry said in a press release. Ferracci said on X that the recent Belgian U-turn on nuclear power 'makes it possible to envisage concrete partnerships on the extension of existing reactors, the deployment of new power reactors, and the joint development of small modular reactors'. 'This declaration demonstrates our shared desire to develop our nuclear industries and to embark on ambitious energy programmes to secure our future,' he said. 'Together, we are defending a European energy strategy based on technological neutrality, energy sovereignty and decarbonisation,' Ferracci added, applauding Belgium for its recent decision to join a French-led alliance of pro-nuclear states. Nuclear alliance The alliance was set up by France in 2023 to promote pro-nuclear countries' interests at the EU level. It has grown stronger this year, with Belgium and Italy joining the group. With 14 members, the alliance now represents just over half of EU countries but still falls short of the requirement to represent 65% of the EU population needed to reach a qualified majority in the Council of the EU. This will not change even if prospective members Estonia and Lithuania decide to join. Estonia recently participated as an observer at a meeting of the group, while Lithuania began assessing on 2 July whether to restart nuclear power production – with a formal decision expected in 2028. The Lithuanian government recently told Euractiv that the Baltic state is 'actively considering the possibility' of participating in the alliance, although 'no formal decisions have been taken at this stage'. Nuclear-friendlier? The question of EU financial support for nuclear power has long been controversial, with countries like Austria and, at least until recently, Germany firmly opposed to the technology. The new German government appears divided on the issue, with the more nuclear-friendly Chancellor Friedrich Merz facing resistance from his junior coalition partner, the Social Democrats. His conservative energy minister recently ruled out a return to nuclear despite she had made supportive comments on small modular reactors. In Brussels, however, the European Commission appears increasingly receptive to pro-nuclear voices. As recently as June, it allowed nuclear technology manufacturing to benefit from streamlined support under a new state aid rulebook, drafted to support the EU's new Clean Industrial Deal growth strategy. (rh, aw)
Yahoo
04-06-2025
- Business
- Yahoo
France, Belgium wary of EU's plan to halt Russian LNG imports by 2027
France and Belgium are not ready to accept the European Commission's latest proposal to phase out Russian liquefied natural gas (LNG), calling for additional assurances, Politico reported on June 3. The two nations, the largest EU importers of Russian LNG, argue they need stronger legal and economic guarantees before committing to the plan. Russia's energy exports remain a major source of revenue for the Kremlin's military campaign against Ukraine. The Commission's proposal, unveiled on May 6, outlines a roadmap to end the bloc's dependence on Russian fossil fuels — gas, oil, and nuclear — by 2027. Although the EU has slashed its reliance on Russian gas from 45% in 2021 to 19% in early 2025, several key member states remain cautious about cutting LNG ties entirely. French Energy Minister Marc Ferracci told Politico that Paris supports diversification but prefers to prioritize securing replacement supplies. France has been sourcing alternative LNG from Qatar and other suppliers, but it remains bound to long-term contracts with Russian firms. "The stock of existing contracts… needs to be legally protected," Ferracci said. Join our community Support independent journalism in Ukraine. Join us in this fight. Support Us France's TotalEnergies, which owns a 20% stake in the Yamal LNG project in Siberia, has a supply contract with Russia's Novatek valid through 2032. Belgium, Europe's second-largest Russian LNG customer, is seeking an "in-depth impact assessment" before backing the Commission's plan. Belgian Energy Minister Mathieu Bihet said Brussels must evaluate how ending imports would affect its LNG terminals and storage infrastructure, which are expected to handle Russian shipments until 2035. The cautious stance by France and Belgium diverges from that of Spain and the Netherlands, who have both expressed readiness to endorse the Commission's strategy. Ukrainian officials and civil society groups have consistently urged the EU to cut these financial lifelines, pointing to the ongoing Russian attacks and occupation. The Commission's proposed cutoff forms part of a broader push to safeguard European energy sovereignty and reinforce the EU's sanctions architecture. The internal divisions among member states risk delaying implementation. Read also: Inside Russia, calls for peace come with conditions — and Kremlin talking points We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
12-04-2025
- Business
- Yahoo
Why STMicroelectronics NV (STM) Surged On Friday?
We recently published a list of . In this article, we are going to take a look at where STMicroelectronics NV (NYSE:STM) stands against other Friday's top performing stocks. The stock market finished the trading week on a positive note, wiping out earlier losses on Friday, as investors weighed the escalating trade tensions between the US and China. Having been battered this week, Wall Street's major indices all finished in the green, led by the Nasdaq, up 2.06 percent, followed by the S&P 500 with 1.81 percent, and the Dow Jones with 1.56 percent. Ten companies, predominantly under the mining and biopharmaceutical sectors, mimicked gains on the back of fresh industry catalysts that boosted buying appetite. In this article, let us explore Friday's top performers and the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume. A worker assembling the inner circuitry of a semiconductor product. STMicroelectronics grew its share prices by 8.03 percent on Friday to finish at $20.45 apiece as investors cheered news that French Industry Minister Marc Ferracci backed the company's chief executive officer amid allegations of insider trading. In a post on social media platform X, Ferracci offered his full support to STM CEO Jean-Marc Chery after accusations made by Italian Economy Minister Giancarlo Giorgetti that Chery sold shares in STM a day before reporting the company's negative results, adding that the CEO does not have the support of the Italian government. In a statement on Thursday, STM clarified that Chery's sales during the company's blackout period prior to the results were made by its stock plan administrator through an automatic procedure. Despite the claims, STM confirmed earlier this week that its planned investments at new facilities in Agrate and Catania were on track. The Agrate site is expected to double its production capacity by 2027. Overall, STM ranks 9th on our list of Friday's top performing stocks. While we acknowledge the potential of STM as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is as promising as STM but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Wall Street Journal
09-04-2025
- Business
- Wall Street Journal
Tariffs Threaten Layoffs in French Industry, Minister Warns
U.S. trade tariffs could lead to layoffs in French industries worst affected by the steep duties, a government minister warned. Job losses are 'a risk,' industry minister Marc Ferracci told radio station France Inter on Wednesday. 'If the U.S. tariffs are made to last, there will be an impact on jobs,' he said. 'In terms of numbers, it's difficult to assess the impact,' which will depend on exporters' ability to translate tariff costs into higher prices, or absorb them into their margins, he said. Sectors including cosmetics, luxury goods and aeronautics are among the French industries most exposed to the 20% tariffs on European imports set out by President Trump last week, the minister said. That package added to tariffs on European autos and metals that Trump had previously announced. European authorities are working on a plan to retaliate with their own measures, which could be set out as early as next week. Some 28,000 French companies export to the U.S., Ferracci said. 'For a large part of them, the U.S. makes up more than 50% of their order book,' he said. 'So the impact is likely to be very serious, for the exporters themselves, but also indirectly.' 'The policy announced by the U.S. administration is a massive shock that destabilizes the global trade order in place since the World War II,' the minister said. 'It destabilizes supply processes that cross borders between nations.' Ferracci pointed to the highly integrated supply chain in place for aeronautic giant Airbus, a major employer in France and which shares many suppliers with its U.S. competitor Boeing. 'They are used to a very fluid cross-Atlantic trade. Putting tariffs on that sector overturns the economic calculations … Some companies are wondering if they will be able to keep producing,' he said. Write to Joshua Kirby at
