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German Economics Ministry Calls for Joint EU Response to US Inflation Act By Reuters

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© Reuters. FILE PHOTO: Chess pieces appear in front of the US and European Union flags shown in this illustration taken on January 25, 2022. REUTERS/Dado Ruvic/Illustration

BERLIN (Reuters) – Germany wants a common European response to U.S. inflation law, including simplifying rules on state subsidies and expanding financing opportunities, according to a German Economy Ministry document seen on Friday.

The EU could set up a program to promote green technology by combining different financing components to avoid budget constraints: the Innovation Fund could increase support for large-scale projects for clean technologies, for example, or the European Investment Bank (EIB) could take on more risks than During guarantees, he said.

The ministry document also notes that member states can more firmly entrench sustainability standards in public tenders at the national level as well as expand or increase traditional subsidy programmes, but cautioned against local content requirements favoring local industry.

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Not only are these laws likely to contravene WTO law, according to the document, but they will also contribute to “further erosion of the global trading system.”

While EU countries welcome Washington’s green tech investment drive, they claim that 200 billion euros ($207 billion) in US subsidies tied to locally produced content could break World Trade Organization rules by hurting their companies.

The European Union and Washington have formed a joint working group hoping to resolve the dispute over the $430 billion bill.

(This story has been corrected to specify that the document was issued by the Ministry of Economy, not the Ministry of Finance; and to clarify in the headline that the Ministry calls for joint response, not progress.)

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.