Latest news with #Ferracci
Yahoo
4 days ago
- 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
Reuters
27-02-2025
- Business
- Reuters
Europe's steel industry needs greater protection, says French industry minister
PARIS, Feb 27 (Reuters) - Europe's ailing steel sector needs to be protected and safeguard measures on steel imports must be strengthened, French industry minister Marc Ferracci said on Thursday. "The European industry and the steel sector need protection, which in the short term means beefing up safeguard measures," said Ferracci. Ferracci was speaking at a news conference on the future of the European steel industry in Paris. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here.
Yahoo
11-02-2025
- Business
- Yahoo
Europe should respond to US tariffs in firm and united way, says French industry minister
PARIS (Reuters) - Europe should respond in a firm and united manner to U.S. President Donald Trump's latest tariffs, French industry minister Marc Ferracci said on Tuesday. Trump substantially raised tariffs on steel and aluminium imports on Monday to a flat 25% "without exceptions or exemptions", in a move he hopes will aid struggling industries in the United States but which risks sparking a multi-front trade war. France is not a major producer of aluminium or steel, but Ferracci said it could be indirectly affected by the tariffs if Chinese imports stymied by American tariffs made their way to European shores. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. "We should expect that there will be some effects from Donald Trump's tariffs. Europe must respond in a united manner, because we know that Donald Trump's strategy is to divide Europeans," Ferracci told TF1 TV. "We must stay united, we must respond in a firm manner. Europe is capable of doing this," he added.
