Tag is: With the help

Porsche shares fall as company warns of low sales

by the Logistics TransportIn the the General Assembly

German car giant Porsche’ shares in Frankfurt’ on Wednesday afternoon after the company issued its second profit warning after a few months hiatus %It lost 4.9 percent of its value. This warning highlighted the possible negative effects of falling sales and rising costs.

Porsche reports group sales revenue for 2024 compared to the previous year %He said it was €40.1 billion, down 1 percent, but said more competitive pricing and personalization options helped limit losses to some extent.

The operating profit of the Group amounted to €5.6 billion last year from €7.3 billion ’ in 2023’; operating sales return as a reflection of shrinking profit margins ’den .1’e down.

In February, the company announced that it would invest €800 million in new hybrid and internal combustion engine models; This move is expected to bring profits this year.

Porsche has confirmed that it plans to lay off about 1,900 people by 2029; In addition to the 2,000 job losses expected immediately after the expiration of fixed-term employment contracts, employees are encouraged to accept severance packages or receive early retirement.

Russ Mould, investment director at AJ Bell, “, said the entire industry was already in a difficult situation due to the disparity between regulations on the transition to electric vehicles and unbalanced demand for electric vehicles among consumers, as well as increased competition from China’ and poor consumer confidence.

Bell added that at “Porsche’, this was further exacerbated by supply chain issues and delays in the launch of new models. “Now tariffs have also been added to the mix, Porsche’nin %It seems even more difficult to reach the 20’ margin target.”

Mold also underlined that focusing on streamlining the company and changing key managers could be good steps for Porsche, but these will not be of much use to the company in the short term.

Volkswagen subsidiary in the long term %Targets sales return of over 20’, but medium-term prospects in a challenging business environment %From 15 to tween the 17th.

Euronews contacted Porsche for further comment.

ChinaWeak demand from ’ continues to negatively impact Porsche’

Along with other luxury German car companies such as Porsche, Audi and Mercedes-Benz, China is feeling the effects of falling demand in ’, where rising living costs are reluctant for consumers to spend on luxury goods.

The company is also facing growing competition from Chinese electric vehicle (EV) manufacturers such as BYD, Geely and SAIC, which have increased their European market share by offering cheaper products with more modern designs and more features in their domestic market.

The decline in demand for electric vehicles across Europe has also affected Porsche’; because relatively high interest rates and inflation continue to put pressure on consumer wallets and trust. This trend has been affected by increasing Chinese competition, and the market value so far this year has been %It also affected other major EV manufacturers, such as Tesla, whose 40’ was wiped out.

Buyers are also increasingly distanced from Tesla’ due to Elon Musk’'s growing involvement in U.S. politics and growing dissatisfaction with his vocal support for far-right figures in Europe’.

Where in Europe are women most willing to start their own business?

by the Logistics TransportIn the the General Assembly

According to new research commissioned by Mastercard’ Ukraine, women in ’ are the most willing to start their own business compared to the rest of Europe’.

Two-thirds of Ukrainian women living in war zones and facing very difficult conditions () says he plans to start his own business. Among those who think the same, this rate is even higher in the younger generation; More than four-fifths of Gen Z () wants to make this leap of faith.

Mastercard stated that women entrepreneurs play a critical role in economic development, resilience and recovery, adding that they also act by supporting a positive change in the world.

Payal Dalal, Vice President of Global Programs at Mastercard, told Euronews Business’a: “Entrepreneur and mother, for example, Inna Bozhko, owner of Barbershop Inclusive’in Kharkiv, Ukraine’. Using our support through the Mastercard Inclusive Growth Center, he opened his own barbershop with a special soundproof space for children with voice-affected disabilities (his eight-year-old daughter suffers from cerebral palsy).”

Ukrainians, both men and women, cite a lack of funds as the main reason why they have not yet started a business (the men's ’i and women %It is 76 ’. Women also suffer from a lack of experience (), lack of knowledge () and lack of self-confidence () stated that there were key factors that prevented them from starting a business.

Ukrainian women sell the most online (), including private tuition (), agriculture () and food and drink () They are interested in opening businesses in their fields.

Where else in AB’ are women most interested in entrepreneurship?

Driven by the highly entrepreneurial spirit of GenZ’, more and more women in AB’ are turning to starting their own business to gain financial independence, improve work-life flexibility and make a difference in the world.

According to the report, carried out in 41 countries around the world, four out of ten European ​​her women are considering starting their own business, compared to Generation Z () and millennial women () at the highest level.

Within the EU, Portuguese women are the most willing to start their own business, and also the average European ​​woman in basic financial skills, such as dealing with savings and budgets () They are twice as comfortable.

Dalal, Euronews Business’a said: “Our data, Portuguese (), Polish () and Greek () the average European ​​ of women () found that they were more likely to consider starting their own business.”

According to the report, the number of people who are planning to start their own businesses in these countries, as well as those who are planning to start them, is quite high: Portugal in ’ ; Poland in ’ ; Greece in ’ .

Doing a little good in the world is the main driving force for Gen Z

The report shows that behind the growing appetite for entrepreneurship, Generation Z women in Europe’ most likely tend to start businesses with the goal of making ‘ a good thing for the world ( against ’. millennials, th Generation and baby boomers.

As a reflection of this, education and child care are among the top three sectors in which European ​​Z generation women would like to start a business. But the cosmetics sector, by far the most popular sector of this generation, takes the top place (the European average among women against ’. ).

What obstacles do women face when starting their own business in Europe’?

According to the report, the risk of failure (), lack of financial resources () and lack of experience (%Concerns about 28) stand out as the biggest barriers for women who have not yet started their own business.

Confidence is also a significant challenge for women who say they have disproportionate difficulty in their care commitments (both for children and older family members).

How can technology increase women's entrepreneurship?

Mastercard and Amazon Web Services leaders agree that digital technologies have great potential to transform the setup and operation of small businesses, and that female entrepreneurs can particularly benefit from them.

In the next few years, I hope to see the barriers to female entrepreneurs overcome with the increasing use of digital technologies that small businesses still need to adapt to meet their diverse needs and capabilities.“

Payal, “From increasing operational efficiency to expanding market access, digital tools offer unprecedented opportunities for increased scalability, resilience and growth, ” said.

Over the next few years, I hope to see barriers to female entrepreneurs overcome with the increasing use of digital technologies that smaller businesses still need to adapt to meet their diverse needs and capabilities.

Payal Dalal
Vice President of Global Programs at Mastercard

Tanuja Randery, EMEA Vice President and General Manager of Amazon Web Services’ and founder of PowerWomen Network’, said: “The latest advances in technology open up huge opportunities for female entrepreneurs by reducing entry barriers with Gen AI, automating tasks to increase productivity, and providing smarter insights to scale businesses.”

He also emphasized that: To accelerate women's entrepreneurship and make the next unicorns possible in Europe“, we need to give women access to the right sponsors, networks and venture/government funding to help them confidently navigate these opportunities.’

Randery told Euronews Business’a India about his experience growing up in ’, where he was inspired by his father to work in the technology industry. Today, it represents one of the world's five largest technology companies, Amazon’u, through its Web Services branch. She shared her thoughts on what could inspire the next generation of female entrepreneurs with Euronews Business.

“Three pieces of advice I can give to women pursuing their careers: a) Make a plan “AliceRemember what ’ said, if you don't know where you're going, every path leads you there; b) Find your sponsors, “women are over-mentored and under-sponsored, and c) Play to win to fit in, take risks, be mobile (change countries, industries, functions) and get feedback, but in the end you must remember who you are, what makes you happy and what you do best.”

How is Germany’'s auto industry preparing for Donald Trump’'s tariffs?

by the Logistics TransportIn the the General Assembly

U.S. President Donald Trump on Tuesday launched a tariff war with U.S. ’'s three largest trading partners; Canada and Mexico’ya ’ imposed customs duties, and China’e doubled the import tax already imposed %He went up to 20’.

On Thursday, Mexico withdrew and postponed tariffs on some imports from ’ and Canada, but stressed that it would impose additional tariffs in early April.

The prospect of an international trade war triggered by Trump’'s tariffs comes at a bad time for the German economy, which is shrinking for the second time in a row in 2024’.

Once an economic powerhouse, ’ is projected to be the bloc's weakest performing country by 2025.

But experts suggest that the impact of the tariff war between China, Mexico and Canada will have a limited impact on Germany, at least for now, as well as affecting German manufacturers and suppliers in these three countries.

Julian Hinz, Professor of International Economics at the University of Bielefeld and Chair of the Trade Policy Research Group at the Kiel Institute for World Economics, euronews’e said: “In the medium term at least, some trade divergence can be expected in the sense that products designed to go to ABD’ye, for example China’e, now reach European markets.”

But instead of the US, China, Mexico and Canada, Europe can also import a little more than ’. Hinz says “Effects blur the overall picture a bit.

German car companies, including Audi, produce cars in ’, Mexico. According to the German Automobile Association (VDA), German automakers produced 716,000 cars in the country, mainly in the US market.

If Trump’'s tariffs mean German cars made in the Mexican ’ can't be sold as easily, or are now much more expensive in the US ’, this could have a bigger impact on “, Hinz says.

On Thursday, Trump granted a one-month tax exemption to automakers in Mexico and Canada, following talks with industry leaders.

But by the end of the month, German economist Thomas Hutzschenreuter says tariffs, followed by reduced demand for German cars from the Mexican ’, will affect the German, European ​​ and Mexican workforce.

Hutzschenreuter Euronews’e “Unemployment rates will be affected” said.

Tariffs of the European Union

Experts warn that the picture will change dramatically if Trump’ decides to impose tariffs on the European Union ’; He threatened to do so in late February.

Hutzschenreuter, “This means that individual companies will have to diversify their sales around the world. In other words, they will have to prioritize the U.S. market and give more priority to other markets. This is currently being discussed at most German companies, ” said.

“The problem, however, is that you can't react quickly when applying tariffs. The reaction takes more time. So you'll be impressed in the short term.”

According to figures from the German Trade and Investment (GTAI) office, one of the sectors particularly exposed is the fact that in 2023, Germany exceeded ’'s total exports. %It is the automotive industry of the country that makes up the 17’sini.

Germany’'s automotive industry entered crisis mode last year when once-strong automakers like Volkswagen closed their factories and laid off thousands of people.

VDA president Hildegard Müller said in February that Trump's European Union %He commented that the threat of 25 customs duties was a “provocation”.

Müller, “Tariffs are the wrong negotiation tool, ” said. “The risk of a global trade conflict that will negatively affect the world economy is high.”

According to simulations by the Kiel Institute for World Economics’, increased tariffs will lead to economic losses and inflation in both AB’ and ABD’.

In ’, Germany, this will affect the automotive and mechanical engineering industries; Kiel Institute of Total Production for Automobiles %It shows that it will decrease to 4’e.

Hinz, “This is a huge figure for an industry that is already in a difficult situation, ” says.

One thing that should be emphasized for Hinz, Germany and the EU as a whole is that although the U.S. is an important trading partner, exports He said that ’ had to go there.

Even in the worst-case scenario of dramatic tariffs imposed by “, most of the imports from AB’ remain in AB’, and many other trading partners will continue to operate as before, with trade operating perfectly under WTO rules and free trade agreements.

Hinz, “, this is where the U.S. hurts itself the most, ending up as ”.

Commerzbank will cut layoffs and increase profits to fend off UniCredit’i

by the Logistics TransportIn the the General Assembly

Commerzbank announced on Thursday that it will close 3,900 full-time positions by 2028 to improve its financial stability.

Nevertheless, the bank added that the recruitment will take place in other “-selected areas, meaning that the global number of full-time employees will remain stable at 36,700”.

The layoffs will mainly affect staff in ’, Germany, while hiring will take place in cheaper locations.

Commerzbank’'s announcement was announced in a fiscal update on Thursday after the bank posted its full-year earnings two weeks ago.

Germany’'s second-largest bank, 2024’te %It achieved a record net profit of €2.68 billion with an increase of 20.

Revenues, partly in net commission income %7 increase to 3.64 billion Euro’ as a result of the growth %6 increased to 11.11 billion Euro’. Net interest income also remained strong.

The layoff warnings came at a time when Commerzbank’ was trying to fend off the hostile purchase offer from Italian lender UniCredit’.

UniCredit, partly through derivatives of the German bank ’lik acquired its stake, but the management of Commerzbank’ is against a full takeover.

Both German banking officials and politicians fear the merger could lead to layoffs and prevent loans to small and medium-sized businesses.

At the end of last year, Chancellor Olaf Scholz criticized “'s efforts to aggressively buy shares in companies without any cooperation, without any consultation, without any feedback.

UniCredit CEO ’ Andrea Orcel said on Tuesday that Germany will launch an official takeover bid from the bank following ’'s appointment of a new government following elections at the end of the month.

If Commerzbank can strengthen business opportunities before that date, it will be easier for the lender to resist the takeover.

The firm said on Thursday it expects net profits of €4.2 billion in 2028’ and %He announced that he aimed to obtain a return on material equity of 15’.

Expense-to-income ratio last year approximately the same year compared to ’ %He said he was expected to go up to 50’ye.

Looking at the results of 2025, Commerzbank predicts that profits will fall to 2.4 billion Euro’ due to restructuring costs of 700 million Euros.

The bank is still looking for ways to increase dividends and shareholder payments.

Based on its 2024 earnings, the lender is offering a dividend of 0.65 euros per share from last year's 0.35 euros’.

Commerzbank, for the period 2025-2028 after deducting restructuring costs and Annex Tier 1 (EC 1) bond vouchers %It plans a payout rate of over 100’.

In a separate statement on Thursday, it announced the launch of a strategic partnership with the German credit institution Visa.

Commerzbank customers will be given Visa debit and credit cards as a priority, and the lender argued that this would make it even easier for “bank's customers to shop abroad and online.

Investors believe Musk and Tesla’ will make a fortune under the Trump administration

by the Logistics TransportIn the the General Assembly

For Elon Musk fans, this is a half-trillion-dollar bet. Tesla’'s stock market value has skyrocketed this much since the presidential election; Despite a disappointing financial report, a dizzying rise in recent days that could sink shares of nearly all other companies has continued unabated.

Investors are betting that President Donald Trump will help rather than damage Musk’'s company with plans to undermine Washington regulations and impose tariffs to get what he wants with key trading partners.

Less editing? Oh, it's fantastic. A trade war? It doesn't matter.

Dan Ives, financial analyst at Wedbush Securities, said it will be a golden age for “Tesla and Musk. “This is a rise I've heard so far about Musk.”

Investing in Tesla’ has long been a gamble. Musk was against the possibility of ’ establishing a successful electric car company; Apart from making him the most valuable car manufacturer in the world and making him the richest man in the world in the process, let alone growing him. But this last bet seems particularly risky.

Musk says the company's true value likely lies in the future of thousands of Tesla robots and unsupervised, driverless vehicles by the end of the year. In an investor conference call, Tesla’ promised to begin offering such robotics in June in Austin, Texas, ’, and nationwide by the end of next year.

It will be Trump who hastens all this, giving Musk’a an office in the White House, and putting him in charge of the new Department of Government Productivity, ’, tasked with reducing the size of the government, or so the story goes.

Trump’'s new transport minister, who could have a big impact on Tesla, mostly sticks to the script. In addition to cutting overregulation on automakers, Sean Duffy has pledged to replace the state-by-state patchwork Musk’ blew up because it hampered development with a single set of federal rules on autonomous driving technology.

Perhaps more importantly, Trump has softened his stance on China’, a major market for Tesla, and has threatened the country during its election campaign since Saturday. %Not with an additional customs duty of 60’, %He struck with additional taxes of 10’. Nevertheless, Trump’'s decision to impose tariffs on China’, as well as Canada and Mexico’, should affect Tesla’. Chief Financial Officer Vaibhav Taneja said last week that the company should feel that its business will be affected as it supplies parts from around the world.

Trump also promised to do other things that would hurt Musk’'s business.

Tesla supplies most of its parts from abroad, and therefore Trump’'s Canada and Mexico’ya %The decision to impose a 25-’ tariff will have a severe impact on the company if it continues to do so.

Trump also promised to eliminate the federal tax cut designed to get people to buy electric vehicles. It will also reduce emissions standards; This will be a potential blow to Tesla’'s business of selling “-regulatory loans to car manufacturers that are polluting the environment further and cannot meet the requirements. Tesla sold $692 million of these loans in the last three months of 2024’; This is according to the previous year. ’ means an increase; Almost all of the revenue flows directly into Tesla’'s bottom line.

It's also unclear whether the Trump administration will delay investigations into Tesla’ya, specifically the technology the company calls Fully Automated Driving. This is a misnomer due to the fact that vehicles need human intervention at any moment. In October, the transport department's car safety regulator, the National Traffic Road Safety Administration, launched the latest in a variety of research into the technology after receiving reports of accidents in low visibility conditions, including a pedestrian death.

Transportation Minister Duffy promised senators at a hearing earlier this month that he would allow Tesla investigations to follow the facts; In particular, the president's “ promised to oppose any political pressure to be lenient with the person identified as his first friend, ”.

Musk’ will need all the regulatory help and other goodies it can get from Trump’.

In early January, Tesla, BMW, Volkswagen and China said sales fell in 2024’te as competitors such as ’in BYD’si emerged with competitive EV’s and stole market share, a first in more than a dozen years.

Then on Wednesday, Tesla reported that revenue, profit and other key financial health metrics for the last quarter of 2024’ all fell short of what analysts expected. The stock went up anyway.

Morningstar analyst Seth Goldstein, of “, says things that would harm other automakers don't seem to affect Tesla’.

In addition to business, Tesla shareholders should always keep an eye on CEO ’. Recently, this has meant evaluating Musk’'s entry into politics.

A major market for his cars, Europe’da Musk supported the far-right Alternative for Germany ’, and British Prime Minister Keir Starmer described ’ as “, an evil tyrant who ruled ”, a brutal police state.

On the day of his inauguration in ’, Musk made a straight arm gesture during a speech that many interpreted as a Nazi salute. He ridiculed the criticism, but the reaction was still violent. In ’, Germany, the image of Musk’ saluting was projected onto the huge Tesla factory outside Berlin in protest. ItalyA communist youth group in ’ hung a statue of Musk’ upside down on the same square in Milano’, where fascist dictator Benito Mussolini’ was also hanged upside down.

How many of these Tesla buyers agree with Musk“?’ Auto researcher Jato Dynamics” senior analyst Felipe Munoz said: “I don't see the point in alienating potential customers.”

Musk is also at risk of shutting down regulatory agencies, which he hopes will soon approve the use of the European ’'s Fully Automated Driving system.

If investors start to lose faith in Musk’a, it's a long way off.

The increase in Tesla shares alone since the elections is more than the annual economic output of 160 countries. Tesla’'s total market capitalization reached nearly $1.3 trillion; This is more than the total value of General Motors, BMW, Ford, Ferrari, Porsche and a dozen other leading car manufacturers.

Musk thinks the stock should be higher.

On Wednesday, before I further highlight this statement, I see a way to make “Tesla’ the most valuable company in the world by far, not even close to – said. There is a way in which “Tesla’ is worth more than the next five companies combined.”

This means leaving companies like Microsoft, Apple and Nvidia behind. Tesla is currently the seventh most valuable company in the S&P 500’.

“Golden Age” analyst Wedbush’tan Ives agrees that stocks can only rise from here.

“Musk’'s centuries-old bet was on Trump’, ” said. “Musk’ will have a huge impact on deregulation on the ring road, and it's worth a trillion dollars.”

Will the new EU disability card guarantee everyone freedom of movement?

by the Logistics TransportIn the the General Assembly

In an interview with Euronews’, Yannis Vardakastanis, President of the European Forum for Persons with Disabilities, explains “ that our disabilities disappear when crossing the border. “When we move to another country for business or tourism purposes for any reason, our disability is not recognized in any other member country.”

In order to provide greater mobility and accessibility for people with disabilities travelling across the European Union, the European Commission has submitted proposals for a new European Disability Card and a European parking card developed for people with disabilities.

The European Disability Card will serve as proof of disability across EU countries, allowing cardholders access to special conditions and services such as free entry, priority or personal assistance for trips under three months. This card will complement national disability cards, which will continue to be issued by national authorities according to their own criteria.

On the other hand, the new European parking card will replace existing national parking cards and guarantee access to designated parking spaces and facilities in all member countries.

According to Vardakastanis’, the cards will facilitate short journeys but will not solve the problem of long-term stays.

“Cards are the first step. They create more accessible conditions for people with disabilities, but they do not solve the real barrier to freedom of movement, the freedom to move, reside, work and live on equal terms in another member country like all Europeans, ” said.

Currently, if a person with a disability wishes to move to another member state, he or she must undergo an assessment there for the recognition of his or her disability. It may take a year or more for the process to be approved.

The cards won't change the fact that many places can't be reached.

Vardakastanis, “Currently we are in Belgium’, and if you look around carefully, you will see that Brussels’ is not at least the most accessible city for people with disabilities – has steps, bad sidewalks, signs that are not accessible, etc. – for me as a blind person to move alone with a white cane or for people who use wheelchairs or crutches, for example” explained Vardakastanis.

Both initiatives are currently in the negotiation phase. It may take another three and a half years for the cards to be fully implemented across the block.

What is AB’'s recovery fund and why is it important?

by the Logistics TransportIn the the General Assembly

Recovery and Endurance FacilityThe (RRF) is a €723 billion financial instrument created by the European Union to help Member States recover from the economic and social consequences of the crisis. COVID-19It's a pandemic.

RRF approved by the Council of Europe and the European Parliament in 2021, New GenerationABPackage – AB’'s recovery plan. RRF ‘ works on a non-refundable ’ basis; This means that EU funds are provided to Member States in the form of grants or loans.

The grants are intended to finance projects related to green and digital transitions, as well as other measures designed to strengthen the economies and societies of Member States.

Loans can be used to fund reforms and investments that support resilience and recovery. However, the RRF is a temporary vehicle that will expire at the end of 2026.

This is complemented by other EU rescue measures, such as: the European Regional Development Fundand the the European Social Fund.

COVID-19 recession

The economic impacts of the COVID-19 pandemic were unequal among EU Member States. Industries across the European continent were severely affected by the outbreak. The businesses most affected were those where personal contact was a key element of the activity. As a result, there have been sharp declines in the tourism, retail and cultural sectors.

The sharpest decline in EU production was seen in the second quarter of 2020. SME ’s (small and medium-sized enterprises) were particularly affected by the restrictions imposed to control the spread of the virus.

The most common setbacks were caused by increases. The Late PaymentsThis is followed by supply chain disruptions, leading to shortages of materials, goods and services. Other setbacks included rising prices and difficulties finding alternative suppliers and exporting.

Furthermore, the COVID-19 pandemic has had profound effects on workers and the labor market more broadly. Frontline workers were more exposed to loss of income and job insecurity, while facing health and safety risks.

Increase in unemployment has been drastically reduced job protection programs. Yet these initiatives failed to prevent higher negative impacts on vulnerable socio-economic groups, including low-educated workers, youth and migrants.

The biggest decline in employment occurred in young workers. In addition, interruptions in working hours were mostly affected by employees between the ages of 25-54 and older male employees.

Category: Temporary workersThe number of temporary contracts across the EU fell by 27 percent between spring 2019 and spring 2020, representing more than three-quarters of the reduction in employment.

A unique rescue fund

The RRF is the largest remediation tool in EU history and is designed as a fund to help Member States respond to the pandemic and emerge stronger.

RRF distributed €56.5 billion in pre-financing in 2021 and 2022’ and an additional €10.4 billion in pre-financing in 2023 and early 2024’ upon approval of REPowerEU divisions.

This helped Member States reduce their initial financial needs and help businesses and citizens get back on their feet. It has also given Member States space to focus on overcoming the long-term challenges of the pandemic, implementing urgent investments and transitioning to a more sustainable and resilient future.

Performance-based financing program

The EU distributes rescue funds based on performance indicators. The reforms and investments put forward in national recovery and resilience plans must be in line with RRF regulations and national challenges.

so far €225 billion, i.e. one third of the total budget, has been allocated to Member States; Many countries have exceeded 37% ’, which they have to spend on climate-related projects.

It is estimated that half of the increase in public investments in AB’ between 2019 and 2025 was due to investments financed by the RRF.

Critics argue, however, that performance-based financing is not result-oriented and that without outcome indicators, countries do not need to continue reporting on the actual results of the projects.

In addition, Russia’'s large-scale invasion of Ukraine’, high inflation rates and energy crisis have created unprecedented challenges for Member States trying to meet the performance indicators set by country-specific recommendations (CSR’ler).

However, the European Commission suggests that RRF’ has the potential to increase AB’'s real GDP ’ by up to 1.4% in 2026’ compared to a scenario without RRF’. This is also projected to lead to a short-term increase of up to 0.8 ’ per cent in EU employment.

Positive results and future plans

SME ’s play a vital role the Spanish ’It's the economy. The government has implemented financial tools to improve SME’s' access to credit and has called for extra credit to improve SME’s' access to capital markets and to inspire private investment, especially for SME’s operating in the green and digital sectors.

Beyond the border, Republic of PortugalIt uses distributed funds to support investments in net-zero technology to help Portuguese industries better compete during energy transformation. Individual businesses or startups can access a budget of €50 million to invest in technologies that meet the following standards. Net-zero industry lawIncluding solar PV, land and sea wind, batteries and storage.

In the North Sea’nde, History of BelgiumPrincess Elizabeth ‘ announced that the construction of the energy island’ will begin in March 2024’te, allowing at least 3.15 GW’ of offshore wind power to be connected to the coastal power grid in the future.

Elsewhere, more than 28 million megawatt hours of annual energy consumption have been saved on the European continent.

Significant progress has been made in expanding internet access and climate resilience, with more than 5.6 million households connecting to high-speed Wi-Fi networks and almost 9 million people benefiting from protection measures against climate-related disasters.

The Council of Europe also advised the 27 Member States to revise their country-specific plans by the end of 2023 to maximize their impact following changes in fuel costs, the invasion of Ukraine’ and supply chain issues.

Greece, Slovenia and Croatia have also updated plans to help combat natural disasters in ’, making it difficult for governments to implement specific RRF reforms and investments.

With the modernization of public infrastructure also a top priority, the aim is to accelerate payments before the 2026 deadline.

To learn more about RRF’'s impact on the Greek economy and watch the latest episode of Real Economy, click here.

TotalEnergies postpones multi-billion-dollar Mozambique LNG project

by the Logistics TransportIn the the General Assembly

According to the Financial Times’, French energy giant TotalEnergies has further postponed the liquefied natural gas (LNG) project in Mozambique’ following ongoing political uncertainty and mounting security issues. The project is currently valued at around $20 billion (19.14 billion euros) and is already facing a number of hurdles.

Launched in 2019 following a final investment decision, the project was expected to help the Mozambique economy recover. This project was the continent's largest foreign direct investment (FDI) project at the time.

Armed riots have stopped the work.

However, the company was forced to declare force majeure in 2021 following attacks by rebels in the province of ’in Cabo Delgado, Mozambique. These attacks took place near the TotalEnergies site, which is expected to be used to convert gas into liquid.

Although TotalEnergies plans to continue the project until the end of last year, plans have been delayed due to growing violence and unrest following the October presidential election, and the result is still heavily debated. Violent protests not only resulted in loss of lives, but also hit businesses, resulting in the closure of ports and land borders.

This latest postponement of the LNG project has raised concerns that the project could start production in 2029’.

TotalEnergies said on its website: “MozambiqueThe Province of Cabo Delgado in ’Given the development of the security situation in the north of ’, we confirm that all personnel in the Mozambique LNG Project’ have withdrawn from Afungi’. This leads TotalEnergies EP Mozambique Region 1, Lda.’ (TEPMA1) to declare force majeure as the operator of the Mozambique LNG Project ’.

“We express our solidarity with the Government and the people of Mozambique and hope that the actions taken by the Government of Mozambique and its regional and international partners will enable the sustainable restoration of security and stability in the Province of Cabo Delgado, ’.

The company said there could be hope for a comeback soon after Rwanda and Mozambique ’ formed a partnership. Rwanda has deployed thousands of troops to help ’e in Mozambique.

TotalEnergies to sell 50 percent of West Burton Energy shares

TotalEnergies recently acquired West Burton Energy shares. ’sini EPH’'s subsidiary in ’ sold to EPUKI’. TotalEnergies acquired West Burton Energy’ last June but has always made it clear that it will sell half of it.

The company announced that the sale was made to help it better align its growing renewable energy portfolio at ’, United Kingdom, with its flexible gas generation capacity.

Following the sale, West Burton Energy’'s 1.3 GW’ gas-fired power plant will be operated as a joint venture between EPUKI and TotalEnergies’. West Burton Energy also has a 49 MW’ battery storage system in ’, UK.

Sophie Chevalier, senior vice president of Flexible Power and Integration at TotalEnergies, said in a press release on the company's website: “United KingdomWe are pleased to partner with EPH, a well-known and experienced energy producer in ’.

“Thanks to this operation, we are adjusting our net flexible production capacity to 700 MW’, consistent with the capacity required to support our Renewable Energy growth in ’, United Kingdom. This integration between flexible and renewable assets will enable our Integrated Energy business to %It will contribute to the goal of achieving 12 returns.”

EU member states start work on next generation warship project for 2040 ⁇

by the Logistics TransportIn the the General Assembly

Will the European military ship of the future come to light in the near future?

Euronaval, one of Europe's largest naval war trade fairs and held this week in Paris, ended with the hope of stronger pan-European cooperation in the naval defense industry.

The European Defence Agency said member states had begun work on the idea of building a next-generation warship for the 2040s.

Ongoing conflicts such as the war in Ukraine and the promises of US President Donald Trump Reduce military supportHe convinced many that it was time for Avrupa ⁇ to give priority to AB ⁇ . The Defense Sovereignty.

Euronaval director Hugues d ⁇ Argentré told euronews ⁇ e: ⁇ Everyone knows that Avrupa ⁇ is a great asset capable of carrying out ambitious programs. ⁇

If we want to be at the level of China, the United States and India, we cannot be disintegrated. If we want a European navy, we cannot allow Spain to carry out its programmes alone, and Italy and France to operate alone. This can meet the demands of the future of war.

We all dream of a European frigate as a joint project. Many countries tried to start the project, but it did not work. I hope that one day we will achieve this.

One of the conditions offered by member states after the first talks this summer was that the future ship would be a smart ship with technologies such as artificial intelligence.

An idea that is warmly welcomed by the union, which represents the French maritime industry.

Jean-Marie Dumon, deputy general of the trade association GICAN ⁇ , which represents more than 250 ⁇ French companies in the maritime sector, said ⁇ All this is a good sign ⁇ that we can further increase our cooperation at the European level.

However, member states must be willing to give orders. This also motivates us to be able to provide marine resources that will guarantee their sovereignty on a European scale and within the framework of NATO. ⁇ said in an interview with euronews ⁇ e.

The bloc's defence ministers will meet in Brussels on 19 November to discuss the project and potentially sign a letter of intent.

New Tariff Rules Can Reverse ⁇ Paradigm Change ⁇ in Retail

by the Logistics TransportIn the Category: Logistics

Major U.S. retailers, including Amazon and Walmart, are quietly exploring moving from Chinese factories to a business model that will send more goods directly to consumers and require fewer U.S. workers in retail stores and logistics centers.

The plans stem from the growing popularity of Chinese e-commerce platforms such as Shein and Temu, which have gained consumer appreciation for their low prices. These platforms send cheap products directly to consumers' doorsteps, allowing them to bypass American tariffs on Chinese goods and the hefty costs associated with physical stores, storage and distribution networks.

According to many familiar with the plans, the growing competition from Shein, Temu and other Chinese companies has prompted many major U.S. retailers to consider switching to a similar model to qualify for an incomprehensible, centuries-old U.S. trade law. The law, known as de minimis, allows importers to bypass U.S. taxes and tariffs on goods unless the value of shipments exceeds $800.

But this trend towards changing business models may have been disrupted on Friday when the Biden administration took action to abruptly close de minimis eligibility for many Chinese imports, including most apparel. In an announcement on Friday morning, the Biden administration said it would restrict the number of packages arriving duty-free to the country, especially through de minimis shipping from China.

The Biden administration's changes will not take effect immediately. The proposal will be subject to comments from sectors before it is finalized in the coming months, and some imports from China will still qualify for the minimis exemption.

But Friday's action could pave the way for a shift in global retail. According to sources familiar with the plans, Amazon is preparing a new discount service that will ship products directly to consumers, allowing those products to bypass tariffs. Even companies that preferred to keep their business models as they were, such as Walmart, had to consider using more de minimis to compete.