Thursday, 27 February 2025
Wednesday, 26 February 2025
The Lincoln Project: Penalty
Who Is Friedrich Merz, Germany’s Likely New Chancellor?
Tuesday, 25 February 2025
We've Seen This Before, a Conversation with Anne Applebaum
Tesla Sales Almost Halve in Europe as Musk Faces Criticism over Trump Ties
THE GUARDIAN: Tech billionaire, a close adviser to the US president, is a vocal supporter of Germany’s far-right AfD party
Sales of new Tesla cars almost halved in Europe last month, indicating waning demand for the US carmaker’s vehicles as its chief executive Elon Musk intervened repeatedly in the politics on both sides of the Atlantic.
The Texas-based carmaker sold 9,945 vehicles in Europe in January, down 45% from last year’s 18,161, according to data from the European Automobile Manufacturers’ Association (ACEA). Tesla’s share of the market dropped to 1% from 1.8%.
This could suggest that Musk’s interventions in European political affairs and senior role in Donald Trump’s administration defunding and depopulating the US government – including shutting down its aid programme – are leading to a consumer backlash. » | Julia Kollewe | Tuesday, February 25, 2025
Sales of new Tesla cars almost halved in Europe last month, indicating waning demand for the US carmaker’s vehicles as its chief executive Elon Musk intervened repeatedly in the politics on both sides of the Atlantic.
The Texas-based carmaker sold 9,945 vehicles in Europe in January, down 45% from last year’s 18,161, according to data from the European Automobile Manufacturers’ Association (ACEA). Tesla’s share of the market dropped to 1% from 1.8%.
This could suggest that Musk’s interventions in European political affairs and senior role in Donald Trump’s administration defunding and depopulating the US government – including shutting down its aid programme – are leading to a consumer backlash. » | Julia Kollewe | Tuesday, February 25, 2025
Sunday, 23 February 2025
NZZ erklärt: Darum will Trump den Panamakanal zurück
Friday, 21 February 2025
Apple Pulls Data Protection Tool after UK Government Security Row | BBC News
Feb 21, 2025 | Apple has removed its highest level data security tool from customers in the UK after the government demanded access to user data.
Advanced Data Protection (ADP) means only account holders can view items such as photos or documents they have stored online through a process known as end-to-end encryption.
But earlier this month, the UK government asked for the right to see the data, which currently not even Apple can access.
Now the tech giant has decided it will no longer be possible to activate ADP in the UK. It means eventually not all UK customer data stored on iCloud - Apple's cloud storage service - will be fully encrypted.
Advanced Data Protection (ADP) means only account holders can view items such as photos or documents they have stored online through a process known as end-to-end encryption.
But earlier this month, the UK government asked for the right to see the data, which currently not even Apple can access.
Now the tech giant has decided it will no longer be possible to activate ADP in the UK. It means eventually not all UK customer data stored on iCloud - Apple's cloud storage service - will be fully encrypted.
Warum ist Reichtum so ungerecht verteilt? | 42 - Die Antwort auf fast alles | ARTE
Feb 21, 2025 | Die einen fliegen für viele Millionen Dollar touristisch ins All oder feiern gigantische Hochzeiten – während die anderen noch immer in Slums von wenigen Dollar am Tag leben. Obwohl die Wirtschaft wächst wie noch nie zuvor in der Menschheitsgeschichte, ist der erzeugte Wohlstand ziemlich ungleich verteilt. Warum ist das so?
Schaut man sich die Entwicklung der Weltwirtschaft an, dann sieht die Sache erst einmal gar nicht so schlecht aus: Der globale Wohlstand ist in den vergangenen Jahrzehnten massiv gewachsen. Vor allem in China haben sich viele Menschen aus bitterer Armut befreien können. Weil aber das enorme Wachstum in Asien nicht nur die Armen etwas weniger arm, sondern vor allem die Reichen viel reicher gemacht hat, ist die Vermögensungleichheit insgesamt immer noch ziemlich groß: Den oberen zehn Prozent der Weltbevölkerung gehören aktuell 76 Prozent aller Vermögen – die untere Hälfte kann gerade mal zwei Prozent aller Reichtümer ihr Eigen nennen. Wie ist diese extreme Ungleichheit zu erklären?
Viele Sozialwissenschaftlerinnen machen vor allem die Staaten verantwortlich: Wer Ungleichheit abbauen wolle, müsse umverteilen – vor allem durch Steuern und das Sozialsystem. Im Zuge der Wirtschaftspolitik des sogenannten Neoliberalismus seien in den vergangenen 40 Jahren diese Umverteilungsmechanismen allerdings weltweit mehr und mehr zurückgefahren worden. Der Wirtschaftswissenschaftler Ignacio Flores von der Paris School of Economics hält das für eine Fehlentwicklung. Wirtschaftswachstum und Umverteilung hin zu einer egalitären Gesellschaft schließen sich seiner Meinung nach gar nicht aus. Ein gutes Beispiel seien die sogenannte Trente Glorieuse, die 30 wirtschaftlich starken Jahre ab 1945 nach dem Ende des Zweiten Weltkriegs – in Deutschland die Zeit des Wirtschaftswunders. Nach den Schrecken von Faschismus und im Angesicht des sowjetischen Sozialismus hätten Frankreich und Deutschland massiv in Umverteilung und Sozialstaat investiert – und die Wirtschaft sei dennoch in einem Ausmaß gewachsen, wie es heute kaum noch vorstellbar ist.
Muss also einfach der Sozialstaat der Nachkriegszeit zurückgeholt werden? Oder braucht es – für mehr Gleichheit – doch tiefere Eingriffe in das Wirtschaftssystem? Und wie viel Gleichheit beim Wohlstand ist eigentlich wünschenswert?
Wissenschafts-Dokureihe, Regie: Max Lebsanft (D 2024, 28 Min)
Video verfügbar bis zum 23/02/2028
Schaut man sich die Entwicklung der Weltwirtschaft an, dann sieht die Sache erst einmal gar nicht so schlecht aus: Der globale Wohlstand ist in den vergangenen Jahrzehnten massiv gewachsen. Vor allem in China haben sich viele Menschen aus bitterer Armut befreien können. Weil aber das enorme Wachstum in Asien nicht nur die Armen etwas weniger arm, sondern vor allem die Reichen viel reicher gemacht hat, ist die Vermögensungleichheit insgesamt immer noch ziemlich groß: Den oberen zehn Prozent der Weltbevölkerung gehören aktuell 76 Prozent aller Vermögen – die untere Hälfte kann gerade mal zwei Prozent aller Reichtümer ihr Eigen nennen. Wie ist diese extreme Ungleichheit zu erklären?
Viele Sozialwissenschaftlerinnen machen vor allem die Staaten verantwortlich: Wer Ungleichheit abbauen wolle, müsse umverteilen – vor allem durch Steuern und das Sozialsystem. Im Zuge der Wirtschaftspolitik des sogenannten Neoliberalismus seien in den vergangenen 40 Jahren diese Umverteilungsmechanismen allerdings weltweit mehr und mehr zurückgefahren worden. Der Wirtschaftswissenschaftler Ignacio Flores von der Paris School of Economics hält das für eine Fehlentwicklung. Wirtschaftswachstum und Umverteilung hin zu einer egalitären Gesellschaft schließen sich seiner Meinung nach gar nicht aus. Ein gutes Beispiel seien die sogenannte Trente Glorieuse, die 30 wirtschaftlich starken Jahre ab 1945 nach dem Ende des Zweiten Weltkriegs – in Deutschland die Zeit des Wirtschaftswunders. Nach den Schrecken von Faschismus und im Angesicht des sowjetischen Sozialismus hätten Frankreich und Deutschland massiv in Umverteilung und Sozialstaat investiert – und die Wirtschaft sei dennoch in einem Ausmaß gewachsen, wie es heute kaum noch vorstellbar ist.
Muss also einfach der Sozialstaat der Nachkriegszeit zurückgeholt werden? Oder braucht es – für mehr Gleichheit – doch tiefere Eingriffe in das Wirtschaftssystem? Und wie viel Gleichheit beim Wohlstand ist eigentlich wünschenswert?
Wissenschafts-Dokureihe, Regie: Max Lebsanft (D 2024, 28 Min)
Video verfügbar bis zum 23/02/2028
Broke and Dejected: Germany’s Future in Limbo
Wednesday, 19 February 2025
Kremlin Message to Trump: There’s Money to Be Made in Russia
THE NEW YORK TIMES: Russian officials are arguing that American companies stand to make billions of dollars by re-entering Russia. The White House is listening.
The Russian government’s top investment manager, who has Harvard and McKinsey credentials and fluent English, brought a simple printout to Tuesday’s talks with the Trump administration in Saudi Arabia.
Its message: By pulling out of Russia in outrage over the invasion of Ukraine, American companies had walked away from piles of cold, hard cash.
“Losses of U.S. companies by industry,” read the document, which Kirill Dmitriev, the head of Russia’s sovereign wealth fund, showed to a New York Times reporter. “Total losses,” one of the columns said. The sum at the bottom: $324 billion.
In appealing to President Trump, the Kremlin has zeroed in on his desire to make a profit. President Vladimir V. Putin on Wednesday praised the U.S. delegation in Riyadh for not criticizing Russia as previous administrations did — there was no “condemnation of what was done in the past,” he said. He added that beyond geopolitics, the two countries were now moving toward deeper engagement on space, the economy and “our joint work on global energy markets.” » | Anton Troianovski | Reporting from Riyadh, Saudi Arabia | Wednesday, February 19, 2025
The Russian government’s top investment manager, who has Harvard and McKinsey credentials and fluent English, brought a simple printout to Tuesday’s talks with the Trump administration in Saudi Arabia.
Its message: By pulling out of Russia in outrage over the invasion of Ukraine, American companies had walked away from piles of cold, hard cash.
“Losses of U.S. companies by industry,” read the document, which Kirill Dmitriev, the head of Russia’s sovereign wealth fund, showed to a New York Times reporter. “Total losses,” one of the columns said. The sum at the bottom: $324 billion.
In appealing to President Trump, the Kremlin has zeroed in on his desire to make a profit. President Vladimir V. Putin on Wednesday praised the U.S. delegation in Riyadh for not criticizing Russia as previous administrations did — there was no “condemnation of what was done in the past,” he said. He added that beyond geopolitics, the two countries were now moving toward deeper engagement on space, the economy and “our joint work on global energy markets.” » | Anton Troianovski | Reporting from Riyadh, Saudi Arabia | Wednesday, February 19, 2025
Saturday, 15 February 2025
Michael Lambert: 4 Reasons UK Economy Is in a Desperate State
Feb 15, 2025 | The UK economy is failing and there seems to be no way for it to recover without growth and there is very little possibility of this happening.
In this video, I point out three reasons why the UK economy is doing so badly.
First, London has become the world centre for money laundering, attracting dirty money, much of which ends up in British tax havens. In towns and cities throughout the UK can be found retailers who are almost certainly, and often by their own admission, laundering money.
Secondly, the UK made the mistake of privatising vital utilities, water, gas, electricity and the railways. The majority of these are now foreign-owned.
Thirdly, American companies now dominate much of the UK economy. They dominate much of the retail sector including fashion, food, and coffee shops. Amazon now commands 30% of the UK online market. Many of these US owned commercial giants pay little or no taxes in the UK. Instead, licensing payments and other devices are used to divert profits to friendlier tax jurisdictions such as Luxembourg and Ireland. A detailed account of American activities in the UK economy can be found in 'Vassal State' by Angus Hanton.
Finally, the UK has economy has been badly damaged by Brexit which is now widely acknowledged as being a massive and very costly failure. The UK is now alone in a world dominated by China, the EU, and an America which is now ruled by an eccentric and unreliable president. Despite the obvious damage which Brexit has caused to the UK economy, Keir Starmer, the Prime Minister, insists that there will be no return to the Customs Union, the Single Market or to Freedom of Movement.
Given the above it seems impossible to see how the UK economy can even begin to recover.
This is an excellent synopsis of the mess that is the UK economy. Thatcher must be blamed for so many of our economic woes. She sold off almost all of the “family silver”. It goes without saying that I agree with all Michael Lambert has said. – © Mark Alexander
In this video, I point out three reasons why the UK economy is doing so badly.
First, London has become the world centre for money laundering, attracting dirty money, much of which ends up in British tax havens. In towns and cities throughout the UK can be found retailers who are almost certainly, and often by their own admission, laundering money.
Secondly, the UK made the mistake of privatising vital utilities, water, gas, electricity and the railways. The majority of these are now foreign-owned.
Thirdly, American companies now dominate much of the UK economy. They dominate much of the retail sector including fashion, food, and coffee shops. Amazon now commands 30% of the UK online market. Many of these US owned commercial giants pay little or no taxes in the UK. Instead, licensing payments and other devices are used to divert profits to friendlier tax jurisdictions such as Luxembourg and Ireland. A detailed account of American activities in the UK economy can be found in 'Vassal State' by Angus Hanton.
Finally, the UK has economy has been badly damaged by Brexit which is now widely acknowledged as being a massive and very costly failure. The UK is now alone in a world dominated by China, the EU, and an America which is now ruled by an eccentric and unreliable president. Despite the obvious damage which Brexit has caused to the UK economy, Keir Starmer, the Prime Minister, insists that there will be no return to the Customs Union, the Single Market or to Freedom of Movement.
Given the above it seems impossible to see how the UK economy can even begin to recover.
This is an excellent synopsis of the mess that is the UK economy. Thatcher must be blamed for so many of our economic woes. She sold off almost all of the “family silver”. It goes without saying that I agree with all Michael Lambert has said. – © Mark Alexander
Tuesday, 11 February 2025
‘Britain Has Sold Its Economy to the US’ – Angus Hanton on How America Really Runs Britain
So much for the sovereignty we got back after Brexit! And so much for Thatcher’s jumble sale of all things British! What a sh***y mess we have got ourselves into! – © Mark Alexander
EU Considers Closer Ties to Gulf as Trump Ramps Up Tariffs
THE TELEGRAPH: The EU is considering seeking closer ties to Gulf countries as it responds to Donald Trump’s new global tariff war, according to the bloc’s trade chief.
Maroš Šefčovič told the European Parliament that it was unfortunate that the US administration had decided to impose 25pc tariffs on all steel and aluminium imports.
He called the tariffs a “lose-lose scenario” but said the EU was prepared to face up to any challenges in this “new era” of global trade.
This included the possibility of closer trade ties with Gulf countries, Reuters reported.
The Persian Gulf countries include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. » | Chris Price | Tuesday, February 11, 2025
Maroš Šefčovič told the European Parliament that it was unfortunate that the US administration had decided to impose 25pc tariffs on all steel and aluminium imports.
He called the tariffs a “lose-lose scenario” but said the EU was prepared to face up to any challenges in this “new era” of global trade.
This included the possibility of closer trade ties with Gulf countries, Reuters reported.
The Persian Gulf countries include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. » | Chris Price | Tuesday, February 11, 2025
Monday, 10 February 2025
EU Says It Will Retaliate Immediately If Trump Imposes New Tariffs
THE GUARDIAN: Bloc’s leaders also pledge to protect EU interests after US president announces escalation in aggressive trade policy
Europe will not hesitate to retaliate if Donald Trump imposes any new tariffs, the European Commission and EU national leaders have said, after the US president announced another escalation of his aggressive trade policy at the weekend.
Trump said he would announce on Monday 25% tariffs on all steel and aluminium imports that would affect “everybody”, adding that reciprocal tariffs on all countries that tax imports from the US would follow on Tuesday or Wednesday.
The European Commission said on Monday it would respond to protect EU interests, but had not so far received any official notification of additional US tariffs on EU goods and would not react to “broad announcements” without details or written clarification. » | Jon Henley in Paris | Monday, February 10, 2025
Europe will not hesitate to retaliate if Donald Trump imposes any new tariffs, the European Commission and EU national leaders have said, after the US president announced another escalation of his aggressive trade policy at the weekend.
Trump said he would announce on Monday 25% tariffs on all steel and aluminium imports that would affect “everybody”, adding that reciprocal tariffs on all countries that tax imports from the US would follow on Tuesday or Wednesday.
The European Commission said on Monday it would respond to protect EU interests, but had not so far received any official notification of additional US tariffs on EU goods and would not react to “broad announcements” without details or written clarification. » | Jon Henley in Paris | Monday, February 10, 2025
The Guardian View on Trump’s Trade Betrayal: Rhetoric Hides Trickle Down Economics On Steroids
THE GUARDIAN – EDITORIAL: The US president’s tariffs pose as worker protection, but they’re a smokescreen – his bluster trades US credibility for a $4.6tn tax-cutting giveaway to the rich
In 2020, Donald Trump scrapped the North American free trade agreement, replacing it with the “United States Mexico Canada agreement”, which he bragged was “the fairest, most balanced, and beneficial” trade deal ever. That agreement between the three nations explicitly bans tariff hikes beyond what was agreed. Yet, on his return to the White House, Mr Trump immediately threatened steep levies on goods from Canada and Mexico – the US’s key allies – retreating only after they made token concessions on drugs and illegal immigration. Now, he’s vowing fresh steel and aluminum tariffs, a direct hit on Canada.
Mr Trump is exploiting presidential emergency powers to push these tariffs with no real constraints. The bottom line is the US is breaking its word. Friends, such as the EU and the UK, as well as opponents like China are also under threat. Allies will think twice before signing deals with Washington, fearing future betrayals. Yet Mr Trump’s administration doesn’t care – it thrives on defying global norms. Skipping this year’s G20 summit – citing host South Africa’s focus on diversity, equality and climate action, alongside Elon Musk’s fixation on white South African farmers – Mr Trump’s team is mulling an exit from the IMF and World Bank. » | Editorial | Monday, February 10, 2025
In 2020, Donald Trump scrapped the North American free trade agreement, replacing it with the “United States Mexico Canada agreement”, which he bragged was “the fairest, most balanced, and beneficial” trade deal ever. That agreement between the three nations explicitly bans tariff hikes beyond what was agreed. Yet, on his return to the White House, Mr Trump immediately threatened steep levies on goods from Canada and Mexico – the US’s key allies – retreating only after they made token concessions on drugs and illegal immigration. Now, he’s vowing fresh steel and aluminum tariffs, a direct hit on Canada.
Mr Trump is exploiting presidential emergency powers to push these tariffs with no real constraints. The bottom line is the US is breaking its word. Friends, such as the EU and the UK, as well as opponents like China are also under threat. Allies will think twice before signing deals with Washington, fearing future betrayals. Yet Mr Trump’s administration doesn’t care – it thrives on defying global norms. Skipping this year’s G20 summit – citing host South Africa’s focus on diversity, equality and climate action, alongside Elon Musk’s fixation on white South African farmers – Mr Trump’s team is mulling an exit from the IMF and World Bank. » | Editorial | Monday, February 10, 2025
"God Help Us, Mr Musk Has Plans for Social Security and Medicare..."
Two ridiculous men: Trump and Musk. It is difficult to tell which one is the more ridiculous! – © Mark Alexander
Sunday, 9 February 2025
Elon Musk's Big Scam
Friday, 7 February 2025
UK Demands Access to Apple Users' Encrypted Data
BBC: The UK government has demanded to be able to access encrypted data stored by Apple users worldwide in its cloud service.
Currently only the Apple account holder can access data stored in this way - the tech giant itself cannot view it.
The demand has been served by the Home Office under the Investigatory Powers Act (IPA), which compels firms to provide information to law enforcement agencies.
Apple declined to comment, but says on its website, external that it views privacy as a "fundamental human right".
Under the law, the demand cannot be made public.
The news was first reported by the Washington Post, external quoting sources familiar with the matter, and the BBC has spoken to similar contacts.
The Home Office said: "We do not comment on operational matters, including for example confirming or denying the existence of any such notices."
Privacy International called it an "unprecedented attack" on the private data of individuals.
"This is a fight the UK should not have picked," said the charity's legal director Caroline Wilson Palow.
"This overreach sets a hugely damaging precedent and will embolden abusive regimes the world over." » | Zoe Kleinman, Technology editor | Friday, February 7, 2025
Currently only the Apple account holder can access data stored in this way - the tech giant itself cannot view it.
The demand has been served by the Home Office under the Investigatory Powers Act (IPA), which compels firms to provide information to law enforcement agencies.
Apple declined to comment, but says on its website, external that it views privacy as a "fundamental human right".
Under the law, the demand cannot be made public.
The news was first reported by the Washington Post, external quoting sources familiar with the matter, and the BBC has spoken to similar contacts.
The Home Office said: "We do not comment on operational matters, including for example confirming or denying the existence of any such notices."
Privacy International called it an "unprecedented attack" on the private data of individuals.
"This is a fight the UK should not have picked," said the charity's legal director Caroline Wilson Palow.
"This overreach sets a hugely damaging precedent and will embolden abusive regimes the world over." » | Zoe Kleinman, Technology editor | Friday, February 7, 2025
Trudeau Says Trump Is Serious about Wanting to Annex Canada
THE GUARDIAN: Prime minister says US president covets northern neighbour’s vast resources as Canadians rally against threat
Donald Trump’s recent fixation on absorbing Canada is “a real thing”, Justin Trudeau has told business leaders, warning that the US president wants access to his northern neighbour’s vast supply of critical minerals.
The outgoing prime minister was in Toronto for a hastily called summit of business and labour leaders, seeking to coordinate a response Trump’s looming threat of a 25% tariff on all Canadian imports.
Earlier this week, Trump backed away from tariffs that would have devastated Canada’s economy, granting one of his country’s largest trading partners a 30-day reprieve for further negotiations.
But he has continued to mock Canadian sovereignty, repeating his description of the country as the “51st state” on social media and repeatedly calling Trudeau “governor”, instead of prime minister. » | Leyland Cecco in Toronto | Friday, February 7, 2025
Donald Trump’s recent fixation on absorbing Canada is “a real thing”, Justin Trudeau has told business leaders, warning that the US president wants access to his northern neighbour’s vast supply of critical minerals.
The outgoing prime minister was in Toronto for a hastily called summit of business and labour leaders, seeking to coordinate a response Trump’s looming threat of a 25% tariff on all Canadian imports.
Earlier this week, Trump backed away from tariffs that would have devastated Canada’s economy, granting one of his country’s largest trading partners a 30-day reprieve for further negotiations.
But he has continued to mock Canadian sovereignty, repeating his description of the country as the “51st state” on social media and repeatedly calling Trudeau “governor”, instead of prime minister. » | Leyland Cecco in Toronto | Friday, February 7, 2025
Thursday, 6 February 2025
Pound Plunges as Bank of England Cuts Rates – and Hints at More to Come
THE TELEGRAPH: The value of the pound has sunk sharply as the Bank of England signalled there would be more interest rate cuts later this year.
Sterling dropped 1.1pc to $1.237 after policymakers cut interest rates to 4.5pc in a surprise vote that saw two members vote for even steeper reductions.
The Governor of the Bank of England, Andrew Bailey, is holding a press conference after the Monetary Policy Committee (MPC) voted 7-2 to cut rates as it slashed its growth forecast for 2025 in half.
Officials warned that there were increasing signs that Rachel Reeves’s record tax raid was dragging on the economy, which is predicted to barely avoid falling into recession. » | Chris Price. Szu Ping Chan, Economics Editor | Thursday, February 6, 2025
I have a little lesson for the Bank of England. It is this… Interest rates should ALWAYS be high enough to encourage people to save, and they should always be at least a little higher than inflation, so that people’s hard-earned savings are not eroded. But they should not be so high that businesses are crushed by the burden of their necessary borrowings. This is a simple lesson, but one which central bankers in recent years have either forgotten or have never learned. – © Mark Alexander
Sterling dropped 1.1pc to $1.237 after policymakers cut interest rates to 4.5pc in a surprise vote that saw two members vote for even steeper reductions.
The Governor of the Bank of England, Andrew Bailey, is holding a press conference after the Monetary Policy Committee (MPC) voted 7-2 to cut rates as it slashed its growth forecast for 2025 in half.
Officials warned that there were increasing signs that Rachel Reeves’s record tax raid was dragging on the economy, which is predicted to barely avoid falling into recession. » | Chris Price. Szu Ping Chan, Economics Editor | Thursday, February 6, 2025
I have a little lesson for the Bank of England. It is this… Interest rates should ALWAYS be high enough to encourage people to save, and they should always be at least a little higher than inflation, so that people’s hard-earned savings are not eroded. But they should not be so high that businesses are crushed by the burden of their necessary borrowings. This is a simple lesson, but one which central bankers in recent years have either forgotten or have never learned. – © Mark Alexander
Wednesday, 5 February 2025
Elon Musk Declares War on Weekends, Calls for 120-Hour Work Week | Firstpost America
Tuesday, 4 February 2025
Hedge Funds Bet Trump Trade War Will Spark Global Recession
THE TELEGRAPH: Investors race to sell shares in North American and European companies amid market turmoil
Hedge funds scrambled to sell shares in North American and European companies last month in a sign that the world’s top money managers are preparing for a global recession.
Hedge funds piled out of stocks which might be vulnerable to an economic slump in January, according to data from Goldman Sachs, amid growing concerns about market turmoil and the prospect of a global downturn.
The funds instead focused on buying shares that are most likely to withstand any incoming recession, including by picking up stocks that generate reliable returns regardless of the state of the economy, such as healthcare and utilities companies.
Bruno Schneller, of asset manager Erlen Capital Management, said: “The rotation into more resilient sectors suggests hedge funds are positioning for a potential economic downturn.” » | Louis Goss, Business Reporter | Tuesday, February 4, 2025
Hedge funds scrambled to sell shares in North American and European companies last month in a sign that the world’s top money managers are preparing for a global recession.
Hedge funds piled out of stocks which might be vulnerable to an economic slump in January, according to data from Goldman Sachs, amid growing concerns about market turmoil and the prospect of a global downturn.
The funds instead focused on buying shares that are most likely to withstand any incoming recession, including by picking up stocks that generate reliable returns regardless of the state of the economy, such as healthcare and utilities companies.
Bruno Schneller, of asset manager Erlen Capital Management, said: “The rotation into more resilient sectors suggests hedge funds are positioning for a potential economic downturn.” » | Louis Goss, Business Reporter | Tuesday, February 4, 2025
Is President Donald Trump Using Tariffs as a Negotiating Tactic? | Inside Story
Feb 4, 2025 | US President Donald Trump's tariffs on goods from Canada and Mexico are on hold for a month. But US levies on Chinese products have gone into effect - and Beijing has hit back with duties of its own. It accuses Washington of unilateralism and has filed a complaint with the World Trade Organization. President Trump says America has been ripped off by 'every country in the world'. So, are tariffs the answer? And at what cost?
Presenter: James Bays
Guests:
Dmitry Grozoubinski -- Director of ExplainTrade - a trade policy and negotiations consultancy
Greg Swenson -- Founding Partner of the investment banking firm, Brigg Macadam
Gavin Fridell -- Professor of Political Science and Global Development Studies at Saint Mary's University in Canada
Presenter: James Bays
Guests:
Dmitry Grozoubinski -- Director of ExplainTrade - a trade policy and negotiations consultancy
Greg Swenson -- Founding Partner of the investment banking firm, Brigg Macadam
Gavin Fridell -- Professor of Political Science and Global Development Studies at Saint Mary's University in Canada
Macht Bitcoin uns alle reich? | ARTE Saloon Livetalk
JETZT LIVE: 2010 kostete ein Bitcoin zehn Cent – wer damals eingestiegen ist und gehalten hat, kann nun locker Millionär*In sein!
Nach einigem Auf und Ab ist der Bitcoin heute stärker denn je: Donald Trump will die USA zur Krypto-Supermacht machen - das Schmuddel-Image als Verbrecher-Geld scheint abgelegt. Der Kurs liegt aktuell bei etwa 100.000€ pro Bitcoin. Wir fragen uns: Ist doch was dran am Narrativ der Bitcoiner, dass die Kryptowährung als dezentrales, unkontrolliertes Open-Source-Projekt das Geld der Zukunft ist? Muss denn immer der Staat der Herr des Geldes sein? Und kann der Bitcoin noch wertvoller werden?
Diese Fragen diskutieren wir im ARTE SALOON mit der Community im Livestream, dem Livepublikum vor Ort und mit diesen Gästen:
Roman Reher aka „Der Blocktrainer“ - Unternehmer, Gründer, Bitcoin-Experte
Peter Bofinger - Professor für VWL, Geld und internationale Wirtschaftsbeziehungen an der Universität Würzburg Evelyn Brock aka „Madame Bitcoin“ - Vorstand Bitcoin Bundesverband
Co-Pierre Georg - Professor und Direktor des Blockchain-Zentrums an der Frankfurt School
Nach einigem Auf und Ab ist der Bitcoin heute stärker denn je: Donald Trump will die USA zur Krypto-Supermacht machen - das Schmuddel-Image als Verbrecher-Geld scheint abgelegt. Der Kurs liegt aktuell bei etwa 100.000€ pro Bitcoin. Wir fragen uns: Ist doch was dran am Narrativ der Bitcoiner, dass die Kryptowährung als dezentrales, unkontrolliertes Open-Source-Projekt das Geld der Zukunft ist? Muss denn immer der Staat der Herr des Geldes sein? Und kann der Bitcoin noch wertvoller werden?
Diese Fragen diskutieren wir im ARTE SALOON mit der Community im Livestream, dem Livepublikum vor Ort und mit diesen Gästen:
Roman Reher aka „Der Blocktrainer“ - Unternehmer, Gründer, Bitcoin-Experte
Peter Bofinger - Professor für VWL, Geld und internationale Wirtschaftsbeziehungen an der Universität Würzburg Evelyn Brock aka „Madame Bitcoin“ - Vorstand Bitcoin Bundesverband
Co-Pierre Georg - Professor und Direktor des Blockchain-Zentrums an der Frankfurt School
Trump Just Broke American Law with Tariffs
Feb 4, 2025 | “I think it’s a breach of American law.”
Senior UN Economic Advisor Jeffrey Sachs says Trump’s tariffs breach treaties between the US and Canada.
Senior UN Economic Advisor Jeffrey Sachs says Trump’s tariffs breach treaties between the US and Canada.
China Swiftly Counters Trump’s Tariffs With a Flurry of Trade Curbs
THE NEW YORK TIMES: After a 10 percent tariff on Chinese products took effect on Tuesday, China announced retaliatory measures, including tariffs and an investigation of Google.
Beijing responded swiftly on Tuesday to the tariffs President Trump had promised, announcing a fusillade of countermeasures targeting American companies and imports of critical products.
Mr. Trump’s 10 percent tariff on all Chinese products went into effect at 12:01 a.m. Tuesday, the result of an executive order issued over the weekend aimed at pressuring Beijing to crack down on fentanyl shipments into the United States.
The Chinese government came back with a series of retaliatory steps, including additional tariffs on liquefied natural gas, coal, farm machinery and other products from the United States. It also said it had implemented restrictions on the export of certain critical minerals, many of which are used in the production of high-tech products.
In addition, Chinese market regulators said they had launched an antimonopoly investigation into Google. Google is blocked from China’s internet, but the move may disrupt the company’s dealings with Chinese companies. » | Ana Swanson and Chris Buckley | Ana Swanson reported from Washington and Chris Buckley from Bangkok. | Tuesday, February 4, 2025
Why do I get the feeling that China has decided to teach Trump an important lesson? A lesson he’ll never forget. – © Mark Alexander
Beijing responded swiftly on Tuesday to the tariffs President Trump had promised, announcing a fusillade of countermeasures targeting American companies and imports of critical products.
Mr. Trump’s 10 percent tariff on all Chinese products went into effect at 12:01 a.m. Tuesday, the result of an executive order issued over the weekend aimed at pressuring Beijing to crack down on fentanyl shipments into the United States.
The Chinese government came back with a series of retaliatory steps, including additional tariffs on liquefied natural gas, coal, farm machinery and other products from the United States. It also said it had implemented restrictions on the export of certain critical minerals, many of which are used in the production of high-tech products.
In addition, Chinese market regulators said they had launched an antimonopoly investigation into Google. Google is blocked from China’s internet, but the move may disrupt the company’s dealings with Chinese companies. » | Ana Swanson and Chris Buckley | Ana Swanson reported from Washington and Chris Buckley from Bangkok. | Tuesday, February 4, 2025
Why do I get the feeling that China has decided to teach Trump an important lesson? A lesson he’ll never forget. – © Mark Alexander
Monday, 3 February 2025
Is Europe Still in the AI Race? | ARTE Europe Weekly
Jan 31, 2025 | The breakout success of Chinese DeepSeek has shaken the US’s position as a global leader in artificial intelligence. But although it might seem like a two-horse race between the US and China, the EU was the first region in the world to have created a legal framework for AI and is starting to massively invest in supercomputing and innovation. As the European Commission said, “The race for AI is far from over.”
Is Europe still in the AI race? | ARTE Europe Weekly Available until 01/03/2025
Is Europe still in the AI race? | ARTE Europe Weekly Available until 01/03/2025
UK and European Stock Markets Tumble amid ‘Trump Tariff Tantrum’
THE GUARDIAN: US president has rattled investors by targeting China, Canada and Mexico, triggering fears of a trade war
Stock markets in the UK and Europe have suffered heavy falls after Donald Trump announced a number of tariffs, prompting fears of a global trade war.
The US president rattled investors by signing off on tariffs on China, Canada and Mexico over the weekend, triggering what was quickly described as a “Trump tariff tantrum”.
Stocks fell in Asia on Monday morning, followed by markets in Europe. The FTSE 100 share index shed 106 points to hit 8,570 points, falling back from last Friday’s record high.
Germany’s DAX index fell by nearly 2%, while France’s CAC 40 was down by 1.7%. Spain’s IBEX dropped 1% and Italy’s FTSE MIB lost 1.2%. » | Graeme Wearden and agencies | Monday, February 3, 2025
Stock markets in the UK and Europe have suffered heavy falls after Donald Trump announced a number of tariffs, prompting fears of a global trade war.
The US president rattled investors by signing off on tariffs on China, Canada and Mexico over the weekend, triggering what was quickly described as a “Trump tariff tantrum”.
Stocks fell in Asia on Monday morning, followed by markets in Europe. The FTSE 100 share index shed 106 points to hit 8,570 points, falling back from last Friday’s record high.
Germany’s DAX index fell by nearly 2%, while France’s CAC 40 was down by 1.7%. Spain’s IBEX dropped 1% and Italy’s FTSE MIB lost 1.2%. » | Graeme Wearden and agencies | Monday, February 3, 2025
Every Reason Canada Will Never Join the US Listed by Canadian High Commissioner to the UK
Feb 3, 2025 | “It’s nice to be wanted, but frankly, no thanks.”
It’s a firm no to Canada becoming part of the US from high commissioner to the UK Ralph Goodale.
It’s a firm no to Canada becoming part of the US from high commissioner to the UK Ralph Goodale.
Sunday, 2 February 2025
Tariff Hikes Unnerve Wall Street, Markets Prepare for Jolt | REUTERS
Tit-for-tat Tariffs: Did Trump Just Start a Trade War? | DW News
Trump Gets Rude Awakening as Tariffs Backfire
Krugman Calls Trump Tariffs 'Really, Really Destructive'
Canada and Mexico Hit Back as President Trump Imposes Huge Tariffs | BBC News
Feb 2, 2025 | US President Donald Trump has announced new tariffs on all goods imported from America's three largest trading partners, China, Mexico and Canada.
Trump said the US would impose tariffs beginning on Tuesday of 25% on Canada and Mexico as well as an additional 10% tax on China. Canadian energy faces a lower 10% tariff.
He had threatened to impose the import taxes if the three countries did not address his concerns about illegal immigration and drug trafficking.
Both Canada and Mexico said they were preparing retaliatory tariffs of their own.
Trump said the US would impose tariffs beginning on Tuesday of 25% on Canada and Mexico as well as an additional 10% tax on China. Canadian energy faces a lower 10% tariff.
He had threatened to impose the import taxes if the three countries did not address his concerns about illegal immigration and drug trafficking.
Both Canada and Mexico said they were preparing retaliatory tariffs of their own.
Canada Imposes 25% Tariffs on US Imports in Retaliation to Trump's Tariff Plan | DW News
Turn the screws on the Trump! Punish Trump for his nastiness and stupidity! – © Mark Alexander
Trump Favors Blunt Force in Dealing With Foreign Allies and Enemies Alike
THE NEW YORK TIMES: With Canada, Mexico, China, Colombia and the Middle East, President Trump has wasted no time threatening to use American might to force recalcitrant countries to back down and do what he wants.
Soft power is out. Hard power is in. Since returning to the White House, President Trump has demonstrated that he prefers to bludgeon, not bargain, his way to foreign policy goals.
With counterparts from Asia, the Middle East and North and South America, Mr. Trump has shown a willingness to use American power in a way that most of his modern predecessors have not. His favorite blunt instrument is not military force but economic coercion, like the tariffs he ordered on Saturday on goods from Canada, Mexico and China.
The tariffs, set to take effect Tuesday, amount to a declaration of economic war against America’s three largest trading partners, which have threatened to retaliate in a tit for tat that could escalate beyond any such conflict in generations. Mr. Trump’s decision to follow through on his tariff threat raises the stakes in his hard-edged America First approach to the rest of the world, with potentially profound consequences.
If he makes the targeted countries back down quickly in response to his demand to do more to stop drug trafficking, Mr. Trump will take it as a validation of his strategy. If not, and the tariffs take force and remain in place for a prolonged period, American consumers could pay a price through higher costs on many goods. » | Peter Baker | Peter Baker, the chief White House correspondent, is covering his sixth presidency and reported from Washington. | Sunday, February 2, 2025
Soft power is out. Hard power is in. Since returning to the White House, President Trump has demonstrated that he prefers to bludgeon, not bargain, his way to foreign policy goals.
With counterparts from Asia, the Middle East and North and South America, Mr. Trump has shown a willingness to use American power in a way that most of his modern predecessors have not. His favorite blunt instrument is not military force but economic coercion, like the tariffs he ordered on Saturday on goods from Canada, Mexico and China.
The tariffs, set to take effect Tuesday, amount to a declaration of economic war against America’s three largest trading partners, which have threatened to retaliate in a tit for tat that could escalate beyond any such conflict in generations. Mr. Trump’s decision to follow through on his tariff threat raises the stakes in his hard-edged America First approach to the rest of the world, with potentially profound consequences.
If he makes the targeted countries back down quickly in response to his demand to do more to stop drug trafficking, Mr. Trump will take it as a validation of his strategy. If not, and the tariffs take force and remain in place for a prolonged period, American consumers could pay a price through higher costs on many goods. » | Peter Baker | Peter Baker, the chief White House correspondent, is covering his sixth presidency and reported from Washington. | Sunday, February 2, 2025
Saturday, 1 February 2025
Trump Signs Order Authorizing Tariffs on Goods from Canada, Mexico and China
THE GUARDIAN: Decision could set the stage for a damaging trade war between the US and three of its top trade partners
Donald Trump has signed an order authorizing tariffs after vowing to impose dramatic taxes on goods from Canada, Mexico and China starting this weekend.
The decision could set the stage for a damaging trade war between the US and three of its top trade partners. Trump has also threatened to impose tariffs against European Union nations.
Trump signed three executive orders on Saturday imposing tariffs of 25% on all goods from Mexico and Canada, the New York Times reported. Trump imposed a 10% tariff on Canadian oil exports, as well as a 10% tariff on items from China.
Trump is imposing the tariffs under the International Emergency Economic Powers Act. Authorities have nodded to worries about fentanyl coming in to the US through this county’s borders with Canada and Mexico, produced from Chinese ingredients, according to the Times.
Trump’s decision to levy a 10% tariff rate on Canadian energy products seems to be some sort of recognition that tariffs can spur higher prices. The White House has contended that tariffs will not fan the flames of inflation. » | Victoria Beklempis | Saturday, February 1, 2025
THE NEW YORK TIMES:
Trump Signs Orders Imposing Steep Tariffs on Mexico, Canada and China »
Donald Trump has signed an order authorizing tariffs after vowing to impose dramatic taxes on goods from Canada, Mexico and China starting this weekend.
The decision could set the stage for a damaging trade war between the US and three of its top trade partners. Trump has also threatened to impose tariffs against European Union nations.
Trump signed three executive orders on Saturday imposing tariffs of 25% on all goods from Mexico and Canada, the New York Times reported. Trump imposed a 10% tariff on Canadian oil exports, as well as a 10% tariff on items from China.
Trump is imposing the tariffs under the International Emergency Economic Powers Act. Authorities have nodded to worries about fentanyl coming in to the US through this county’s borders with Canada and Mexico, produced from Chinese ingredients, according to the Times.
Trump’s decision to levy a 10% tariff rate on Canadian energy products seems to be some sort of recognition that tariffs can spur higher prices. The White House has contended that tariffs will not fan the flames of inflation. » | Victoria Beklempis | Saturday, February 1, 2025
THE NEW YORK TIMES:
Trump Signs Orders Imposing Steep Tariffs on Mexico, Canada and China »
'Cognitively Declining' Trump Faces Economic Chaos as Tariffs Backfire | Diane Francis
"We're Going to Stand Up to a Bully" | Mark Carney on President Trump’s Canada Trade Tariffs
We in the UK must stand by Canada. We must also stand by Denmark. And by the other countries which are being bullied by President Chump. I hope Mark Carney becomes Canada's next prime minister. He would make a fine prime minister for Canada. Furthermore, Canada needs this solid man right now. – © Mark Alexander
Trump's Billionaires Will Accelerate American Decline. Dr Richard Wolff Explains How
Jan 28, 2025 | On the campaign trail and beyond, Donald Trump and MAGA right have repeatedly presented themselves as the true representatives of America's beleaguered working class. And yet, like the Capitol rotunda on Inauguration Day, Trump's administration is filled with billionaires, mega-millionaires, and corporate oligarchs whose staggering wealth is increasing year after year while working people struggle to get by. How are people, voters and non-voters alike, supposed to square this seeming contradiction?
In this special post-Inauguration interview, Dr Richard Wolff explains how the naked oligarchy on display in Trump's inauguration and in his administration is not a contradiction, but a clear sign of a society hastening its own collapse under the weight of historic, unsustainable levels of inequality.
In this special post-Inauguration interview, Dr Richard Wolff explains how the naked oligarchy on display in Trump's inauguration and in his administration is not a contradiction, but a clear sign of a society hastening its own collapse under the weight of historic, unsustainable levels of inequality.
Why Does Trump Want the Panama Canal? - The Global Story Podcast, BBC World Service
Feb 1, 2025 | Since returning to the White House, Donald Trump has made a string of expansionist foreign policy announcements, angering several of his international counterparts.
After reiterating his ambitious intention to purchase Greenland, and renaming the Gulf of Mexico, the US president doubled down on his insistence that Washington should regain control of the Panama Canal, the essential shipping passage he claims has been commandeered by China.
Built by the United States in the early twentieth century, the waterway transformed global trade and marked America’s emergence as a superpower on the world stage, before being transferred to Panamanian control via a 1977 treaty. So why has Donald Trump got it in his sights now?
In this episode Jonny Dymond speaks to Julie Greene, professor of American studies at the University of Maryland, about the storied history of the Panama Canal. And the BBC’s North America business correspondent Michelle Fleury discusses the politics and economics behind the Trump administration's diplomatic pursuit of the trade route.
After reiterating his ambitious intention to purchase Greenland, and renaming the Gulf of Mexico, the US president doubled down on his insistence that Washington should regain control of the Panama Canal, the essential shipping passage he claims has been commandeered by China.
Built by the United States in the early twentieth century, the waterway transformed global trade and marked America’s emergence as a superpower on the world stage, before being transferred to Panamanian control via a 1977 treaty. So why has Donald Trump got it in his sights now?
In this episode Jonny Dymond speaks to Julie Greene, professor of American studies at the University of Maryland, about the storied history of the Panama Canal. And the BBC’s North America business correspondent Michelle Fleury discusses the politics and economics behind the Trump administration's diplomatic pursuit of the trade route.
NZZ erklärt: Joe Biden scheiterte als Präsident – das waren die Gründe
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