World
‘Fears of relocation are real’: Danish industry warns of US subsidies
The Inflation Discount Act has put Europe on edge.
The continent fears the regulation promoted by US President Joe Biden will spark an industrial exodus throughout the Atlantic Ocean, leaving factories and employees within the mud.
Amongst its provisions, the Inflation Discount Act (IRA) earmarks as much as $369 billion (over €341 billion) in tax credit, direct rebates and subsidies to assist corporations make investments and produce inexperienced expertise, together with wind generators, photo voltaic panels, warmth pumps and electrical autos.
However the beneficiant support, set to be doled out over the following ten years, will solely be made accessible if these merchandise are predominately processed and assembled in North America, a requirement the European Union has denounced as unfair and discriminatory.
“We need to compete on high quality, that is vital, we don’t need to compete on subsidies,” European Fee President Ursula von der Leyen has stated.
For the reason that IRA entered into drive, a number of worldwide corporations have introduced new funding plans within the US, together with Korean firm Hanwha Qcellsa, which this month stated it could spend $2.5 billion to fabricate parts for photo voltaic panels in Georgia.
Will EU companies observe go well with and transfer overseas?
In Denmark, a worldwide chief in inexperienced power, the prospect is tangible – however not but inevitable.
“Seen from the inexperienced transition perspective within the US, the (IRA) is a really optimistic initiative,” Jan Hylleberg, deputy CEO at Inexperienced Energy Denmark, an affiliation that represents 1,500 Danish corporations working throughout the inexperienced power worth chain, instructed Euronews.
“After all, there’s a threat of reallocation of investments to the US,” he added. “There is not any doubt that the concern is actual, and particularly if we do not act. Then, the investments will movement to the US.”
For Hylleberg, the IRA is a “wake-up name” for Europe that calls for a response based mostly on a broad “set of instruments.”
The European Fee is predicted to launch extra detailed countermeasures within the coming weeks, comparable to new guidelines to fast-track state support – one thing that counties like Denmark, Sweden, the Netherlands and Eire fear will set off a dangerous subsidy race and unfair competitors within the single market.
“European inexperienced trade just isn’t a given factor. Now we have to care about it,” Hylleberg stated. “Now we have to make sure that, if we wish investments, if we wish employment within the inexperienced renewable trade in Europe, now we have to care about it, now we have to take new initiatives to make sure that we can have these investments.”
Denmark was a pioneer in clear power and commenced investing closely within the sector many years earlier than its fellow EU member states. At the moment, the Nordic nation hosts among the world’s largest builders of wind generators and offshore wind farms, comparable to Vestas and Ørsted, providing the bloc a substantial aggressive edge.
Beneath the Inflation Discount Act, the US intends to have 120,000 wind generators working by 2030, an goal to which Danish corporations are poised to contribute.
However, as Hylleberg underlined, it’s nascent applied sciences, comparable to inexperienced hydrogen, which can be most liable to being relocated as a result of they’ve a small bodily footprint, making the switch simpler.
“Renewable hydrogen continues to be fairly a younger trade, continues to be a fairly younger worth chain, and due to this fact there, particularly Europe, must be very focussed on making certain that not all of the accessible investments proper now will transfer to the US as a result of we in Europe want very new and powerful incentives for the renewable hydrogen provide chain and infrastructure to ascertain itself in Europe,” Hylleberg stated.
“Principally, we have to have a brand new European industrial coverage. That is additionally a part of the reply to the battle in Ukraine. It isn’t only a query in regards to the Inflation Discount Act and the US.”
World
Justin Baldoni Sued by Former Publicist Amid Blake Lively Scandal
Justin Baldoni‘s former publicist sued him, his company and his current publicity team on Tuesday, amid a spiraling scandal over an alleged smear campaign against Baldoni’s “It Ends With Us” co-star Blake Lively.
Steph Jones, who owns Jonesworks, accused Baldoni of breaching their contract, which required him to pay her $25,000 per month. Baldoni dropped the firm in August, a few months into a year-long deal, after his Jonesworks publicist, Jennifer Abel, left the company to start her own publicity firm.
Jones also sued Abel and publicist Melissa Nathan, accusing them of implementing the smear campaign against Lively behind her back and without her knowledge. She alleges that they are now trying to blame her for the ensuing meltdown.
“To this day, Abel and Nathan continue to point the finger falsely at Jones now that their own misconduct is coming to light, and to defame and attack Jones in the industry,” the lawsuit states.
Lively filed a complaint on Saturday with the California Civil Rights Department, accusing Baldoni and his publicists of orchestrating negative coverage about her in retaliation for her complaints of sexual harassment on set.
In the complaint, Lively accused Baldoni of a catalog of sexually inappropriate comments and behavior that allegedly took place on set in 2023. According to the complaint, she raised these issues through her attorneys before filming, which had been suspended during the Hollywood strikes, resumed earlier this year.
The rift between Baldoni and Lively became apparent during the publicity tour for the film last summer. Baldoni feared that Lively or her team would public accuse him of sexual misconduct, and sought ways to combat that. The complaint quoted extensively from text messages among Baldoni’s publicity team, in which they plotted to “bury” Lively.
In an unusual move, Lively’s attorneys obtained the messages by sending a pre-litigation subpoena to Jones.
Abel, Nathan, and Baldoni are represented by attorney Bryan Freedman. On Monday, Freedman threatened to sue Jones for releasing the contents of Abel’s phone to Lively’s legal team. Freedman, Abel and Nathan did not immediately respond to a request for comment on Jones’ suit.
In her lawsuit, Jones relates that she “forensically preserved” Abel’s company phone after Abel was fired.
“Abel and Nathan’s covert take down and smear campaigns were revealed in black and white on Abel’s company-issued phone following her termination, which Jonesworks forensically preserved and examined in detail after receiving a subpoena for the phone’s contents,” Jones’ suit states. “Jones discovered the breadth and intensity of Abel and Nathan’s duplicity from these records, including that Abel was actively encouraging other Jonesworks clients and employees to leave Jonesworks while Abel was still employed there.”
Jones’ suit alleges that Abel conspired for months to leave her company and to “steal” her clients and trash her reputation in the industry. She accuses Nathan of encouraging Abel to leave, because Nathan would then have greater access to those clients.
“This scheme ultimately inflicted serious damage on Jones and Jonesworks,” states the lawsuit, which was filed in state court in New York.
Among other things, the suit alleges that Abel and Nathan planted negative stories about Jones in the press, including an article in Business Insider that was published last summer.
The suit alleges breach of contract, tortious interference with contract, breach of fiduciary duty and defamation.
World
Police officer dressed as the 'Grinch' steals Christmas spirit during drug bust
A Peruvian police officer dressed as the Grinch, the cantankerous and green-furred villain, busted suspected drug traffickers in the South American country’s capital days before Christmas.
The operation in San Bartolo in Lima resulted in the arrest of three suspects, according to a video posted online by the Peruvian National Police.
“In an ingenious operation, agents of the Green Squad arrested the aliases La Reina del Sur, La Coneja and Pote, alleged members of the La Mafia de San Bartolo gang, dedicated to drug dealing,” a police post on X states. “Various narcotics were seized.”
FLORIDA MAN WHO WAS HALF-NAKED, ‘HIGH ON METH’ BREAKS INTO HOME, GRABS CARPET CLEANER
Using what appeared to be a sledgehammer, the officer walked down the street dressed as the infamous Christmas villain with a small heart before breaking down the front door of a home and entering, according to the video footage.
The suspects were arrested, and the “Grinch” is seen rummaging through various items in the home before finding what authorities said were illegal drugs and other items related to drug trafficking.
MORE THAN $31M OF METH CONCEALED IN SHIPMENT OF PEPPERS SEIZED AT TEXAS-MEXICO BORDER
Peru is the second-largest producer of cocaine and cultivator of coca in the world, according to the State Department.
“The majority of cocaine produced in Peru is transported to South American countries for domestic consumption, or for onward shipment to Europe, the United States, East Asia, and Mexico,” the State Department website said.
Peru’s national police force has carried out similar operations in the past.
On Halloween 2023, officers disguised as horror favorites Freddy Krueger, Jason Voorhees and Tiffany Valentine, the murderous doll in the “Child’s Play” series, also broke into the home of alleged drug dealers.
World
Are your Christmas gifts ready? Here are where EU toys come from
While the EU saw a drop in toy exports, China was the EU’s biggest supplier, providing 80% of these imports, valued at €5.2 billion.
In 2023, the EU imported €6.5 billion worth of toys from countries outside the bloc, a €2 billion decrease compared to 2022.
According to the latest Eurostat figures, China was the EU’s biggest supplier, providing 80% of these imports, valued at €5.2 billion.
Vietnam followed with 6% and the United Kingdom with 2%.
Around a fifth of the EU’s toy imports ended up in Germany, while France and the Netherlands received 16% and 14%, respectively.
At the same time, the EU exported €2.3 billion worth of toys in 2023.
This figure represents a slight decrease of €0.2 billion from the previous year.
More than half of the toys exported from the EU came from the Czech Republic, Germany and Belgium.
The UK was the top destination for EU toy exports, receiving 30% of the total, followed by Switzerland at 13% and the United States at 10%.
Concerns over toy safety
A recent Toy Industries of Europe study revealed that 80% of toys purchased from third-party sellers on online marketplaces failed to meet EU safety standards.
The research tested over 100 toys from various platforms, uncovering serious health risks such as choking hazards and toxic chemicals.
At the beginning of September, the European Parliament backed a proposal to improve the safety of toys available on the EU market.
The proposal focused particularly on decreasing the number of unsafe toys in the EU market and better protecting children from toy-related risks, including banning harmful chemicals in toys.
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