Latest news with #UrsulaVonderLeyen
Yahoo
3 days ago
- Business
- Yahoo
The Week in Numbers: tariff whiplash, tech earnings
STORY: From fresh whiplash over U.S. tariffs, to good news, bad news at Nvidia, this is the Week in Numbers. ::50% 50% was… and then wasn't set to be the U.S. tariff on EU products from June 1. Trump threatened to set that levy, frustrated by the pace of talks. But he then backed off after a call with European Commission chief Ursula Von der Leyen. Treasury Secretary Scott Bessent said tough talking had proved effective: 'And as we saw with the president's threat of 50% tariffs last Friday, the EU came to the table very quickly over the weekend. So now we've got the EU in motion also.' ::69% 69% was the surge in sales for Nvidia over the latest quarter. The news cheered markets, and sent shares higher. But the firm warned that U.S. curbs on shipments to China would cut $8 billion off sales in the coming period. That forced it to offer a forecast below Wall Street expectations. ::49% 49% was the plunge in European sales for Tesla in April. That drop came even as the region's overall market for EVs jumped. Analysts say the number suggests an updated Model Y crossover isn't boosting Tesla sales in Europe, where the brand has been hurt by Elon Musk's embrace of right-wing politics. ::$15.5 billion Almost $15.5 billion was the record revenue at Xiaomi. The all-time high comes as the phonemaker steps up its move into the car market. This week its YU7 SUV hit showrooms, aimed squarely at taking another chunk out of Tesla sales. ::$327 million And close to $327 million was the record box office for the top 10 films at North American cinemas over any Memorial Day weekend. Takings were boosted by the latest 'Mission: Impossible' blockbuster, as well as Disney's live-action remake of 'Lilo & Stitch'. The numbers offered a desperately needed boost for the movie industry, with ticket sales still below pre-pandemic levels.
Yahoo
3 days ago
- Business
- Yahoo
The Week in Numbers: tariff whiplash, tech earnings
STORY: From fresh whiplash over U.S. tariffs, to good news, bad news at Nvidia, this is the Week in Numbers. ::50% 50% was… and then wasn't set to be the U.S. tariff on EU products from June 1. Trump threatened to set that levy, frustrated by the pace of talks. But he then backed off after a call with European Commission chief Ursula Von der Leyen. Treasury Secretary Scott Bessent said tough talking had proved effective: 'And as we saw with the president's threat of 50% tariffs last Friday, the EU came to the table very quickly over the weekend. So now we've got the EU in motion also.' ::69% 69% was the surge in sales for Nvidia over the latest quarter. The news cheered markets, and sent shares higher. But the firm warned that U.S. curbs on shipments to China would cut $8 billion off sales in the coming period. That forced it to offer a forecast below Wall Street expectations. ::49% 49% was the plunge in European sales for Tesla in April. That drop came even as the region's overall market for EVs jumped. Analysts say the number suggests an updated Model Y crossover isn't boosting Tesla sales in Europe, where the brand has been hurt by Elon Musk's embrace of right-wing politics. ::$15.5 billion Almost $15.5 billion was the record revenue at Xiaomi. The all-time high comes as the phonemaker steps up its move into the car market. This week its YU7 SUV hit showrooms, aimed squarely at taking another chunk out of Tesla sales. ::$327 million And close to $327 million was the record box office for the top 10 films at North American cinemas over any Memorial Day weekend. Takings were boosted by the latest 'Mission: Impossible' blockbuster, as well as Disney's live-action remake of 'Lilo & Stitch'. The numbers offered a desperately needed boost for the movie industry, with ticket sales still below pre-pandemic levels.
Japan Today
08-05-2025
- Business
- Japan Today
EU publishes U.S. product hit list and prepares for WTO action against Trump's tariffs
European Commission President Ursula Von der Leyen delivers her speech on EU support for peace in Ukraine, Wednesday, May 7, 2025 at the European Parliament in Strasbourg, eastern France. (AP Photo/Antonin Utz) By LORNE COOK The European Union published on Thursday a list of U.S. imports that it would target with retaliatory duties if no solution is found to end U.S. President Donald Trump's tariff war, which could include aircraft maker Boeing. The EU's executive branch, the European Commission, said it also would begin legal action at the World Trade Organization over the 'reciprocal tariffs' that Trump imposed on countries around the world last month. 'The EU remains fully committed to finding negotiated outcomes with the U.S.,' commission President Ursula von der Leyen said. 'At the same time, we continue preparing for all possibilities.' The commission manages trade deals and disputes on behalf of the 27 EU countries. In early April, Trump put a 20% levy on goods from the EU as part of his tariff onslaught against global trading partners. A week later, he paused them for 90 days to give countries a chance to negotiate solutions to U.S. trade concerns. A blanket 10% tariff still applies to EU imports. The commission drew up countermeasures to target 20.9 billion euros ($23.6 billion) of U.S. goods, roughly the equivalent of what Trump would be hitting in Europe. But it also put them on hold for 90 days to give negotiations a chance. The bloc's top trade official has shuttled between Brussels and Washington trying to find a solution, but with little to show, the commission has made public a list of American imports for possible targeting worth 95 billion euros ($107 billion). The list is broken down into sectors and broad categories of products rather than brand names. It contains 10.5 billion euros ($11.9 billion) worth of aircraft, 10.3 billion euros ($11.6 billion) in vehicle parts and 2 billion euros ($2.3 billion) in vehicles. European airlines are big Boeing customers: German airline Lufthansa has unfilled orders for 101 Boeing planes, and Irish airline Ryanair 184, for example. Boeing did not comment on the European Commission's announcement Thursday. The American aerospace giant and Airbus, its European rival, dominate the global markets for commercial and military planes. Under the EU's proposed list, around 1.3 billion euros ($1.5 billion) in imports of U.S. wine, beer and spirits also could take a hit. European wine producershave been deeply concerned that Trump's tariffs would deal a severe blow to their sector, which relies on the U.S. as its top market. The commission gave interested companies and parties until June 10 to provide feedback, before it decides on the next steps. 'Boeing is very welcome to make comments on this list,' a commission official said, briefing reporters on the list and the rationale for the EU's approach. Also Thursday, the commission approved 5 billion euros in insurance aid for French wine and spirits exports to the U.S. through July 8, after which the sweeping tariffs announced by Trump are scheduled to go into effect. The plan is mean to help protect French exporters from political risks during the next two months. In parallel, the commission said that it would be taking legal action at world trade's governing body, and would soon request consultations with the United States to try to resolve the issue, which must take place within two months. It said that this action would focus on Trump's 'universal' reciprocal tariffs, and duties on cars and car parts. 'It is the unequivocal view of the EU that these tariffs blatantly violate fundamental WTO rules,' a statement said. The commission estimates that 379 billion euros ($428 billion) of EU exports to the U.S. have been hit by new tariffs, including those on pause until mid-July, since Trump took office. It said they are already 'raising costs for business, stifling growth, fueling inflation and heightening economic uncertainty.' © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Yahoo
06-05-2025
- Business
- Yahoo
After 3 years of full-scale war in Ukraine, Europe announces plan to ban all Russian gas imports
BRUSSELS — After years of reducing its reliance on Russian gas, the European Union is moving to turn off the taps completely within the next two years. The European Commission (EC) on May 6 presented a detailed roadmap to fully sever the European Union's energy dependence on Russia by 2027. The plan has been described as the bloc's most comprehensive effort yet to end imports of Russian gas, oil, and nuclear fuel, a dependency critics argue has long compromised EU sovereignty and funded the Kremlin's war machine in Ukraine. "Energy that comes to our continent should not pay for a war of aggression against Ukraine," EU Commission President Ursula Von der Leyen said on May 6, adding: "We owe this to our citizens, to our companies and to our brave Ukrainian friends." The EU's reliance on Russian energy has dropped significantly since 2021, when Russian gas accounted for 45% of imports. That figure now stands at 19%, according to a statement from the EC. Russian coal has already been banned and oil imports have fallen from 27% in early 2022 to just 3%. Yet, as the Commission admits, 2024 saw a modest rebound in Russian gas imports, prompting urgent calls for a coordinated phase-out. The May 6 announcement lays out a phased plan to cut European money flowing into Kremlin coffers. All new contracts for Russian gas — both liquefied (LNG) and pipeline — will be prohibited, while spot market purchases will be terminated by the end of 2025. The EU aims to halt all remaining gas imports from Russia by 2027. National governments, including Kremlin-friendly Hungary and Slovakia, will be required to submit individual phase-out plans by year's end. This includes ending long-term contracts early, with the Commission deeming that Russia's invasion creates force majeure conditions, allowing European companies to cut contracts early without consequence. Beyond gas and oil, the roadmap targets Russia's often-overlooked nuclear exports. Member states still reliant on Russian-designed VVER reactors will be pushed to secure alternative nuclear fuel sources. Brussels will also move to block new contracts involving Russian enriched uranium and bolster EU production of medical radioisotopes under a new "European Radioisotopes Valley Initiative." The Eagle S oil tanker is seen anchored near the Port of Kilpilahti in Porvoo, Finland, on Jan. 13, 2025. (Vesa Moilanen / Lehtikuva / AFP via Getty Images) Energy Commissioner Dan Jørgensen struck a defiant tone when announcing the plan: "No more shall Euros go into [Russia's] war chest. Your gas will be banned. Your shadow fleet will be stopped." Still, the plan hinges on a delicate balance. The EU must navigate the phase-out without triggering energy shortages or price shocks, particularly as European voters grow increasingly wary of rising living costs. The Commission says expanded LNG capacity — expected to grow by 200 billion cubic meters by 2028 — combined with declining gas demand will ease the transition. Analysts caution that some member states may drag their feet. Hungary, for instance, remains heavily reliant on Russian nuclear fuel and has resisted tougher energy sanctions in the past. Meanwhile, European industry still bears scars from the 2022 energy crisis, when the initial scramble to replace Russian supplies sent prices soaring. While von der Leyen stressed that the roadmap is about "security, solidarity and sovereignty," for Ukraine and its supporters, it also marks a long-awaited reckoning. For years, activists and Ukrainian officials have pleaded with Europe to stop financing Russian aggression through energy purchases. The roadmap may not erase that history — but it signals that the EU, however belatedly, has begun to listen. Read also: A night with the medics of Ukraine's 3rd Assault Brigade on Kharkiv Oblast front We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
05-05-2025
- Politics
- Yahoo
EU, UK eye weary US scientists with €500M plan
French President Emmanuel Macron and European Commission President Ursula Von der Leyen announced Monday an initiative aimed at attracting US researchers fleeing funding cuts and restrictions on academic freedom under US President Donald Trump. The plan will see half a billion euros in funding between 2025 and 2027. 'The role of science in today's world is questioned. The investment in fundamental, free and open research is questioned. What a gigantic miscalculation,' von der Leyen said. The announcement followed one made by France's flagship scientific research center Sunday. The president of the French National Center for Scientific Research, Antoine Petit, said the program was designed to attract foreign scientists whose work is under threat, as well as French researchers who 'don't want to live and raise their children in Trump's United States.' The UK is also considering a similar scheme, which will be supported by £50 million in government funding, the Financial Times reported. Europe is keen to lure American researchers. Petit said France's strong welfare state, as well as the lower cost of education and health care, would make up for any pay gap with the US.
