‘This Fails’: Biden Admin’s Rules For EV Subsidies Could Be Ripe For Abuse By China
The Biden administration published guidelines meant to restrict some foreign companies from capitalizing on its climate agenda, but some stakeholders say the rules are not strict enough on China. The “foreign entity…
German budget experts push for dividend ban tied to energy subsidies
BERLIN (Reuters) – Budget experts from Germany’s ruling coalition on Friday stressed the need for a ban on dividends and bonuses being paid out at companies that benefit from gas or electricity…
ECB to hike interest rates, likely to trim bank subsidies
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank will raise interest rates again on Thursday and likely reel in a key subsidy to commercial banks, taking another…
U.S., EU launch formal group to discuss conflict over EV subsidies
By Trevor Hunnicutt WASHINGTON (Reuters) – U.S. and European Union officials will formally launch a task force next week to discuss new American laws that Europeans fear will discriminate against foreign electric…
Volkswagen to rake in almost half of Spain’s EV subsidies
MADRID (Reuters) – Volkswagen’s Spanish subsidiary SEAT will rake in almost half of the nearly 900 million euros ($888 million) in government subsidies allocated for electric vehicle development, Spain’s Industry Ministry said…
UAW wants U.S. to bar loans, subsidies for Hyundai over workplace issues
By David Shepardson (Reuters) -The United Auto Workers (UAW) union on Friday called on the Biden administration not to award any subsidies, loans or other taxpayer support until Hyundai Motor agrees to…
UK’s Hunt says he will raise 32 billion pounds more in tax, limit power subsidies
LONDON (Reuters) -British finance minister Jeremy Hunt, seeking to quell a bond market rout, listed on Monday tax changes that he said would raise an extra 32 billion pounds ($36.16 billion) a…
Energy subsidies merely delay high inflation, ECB’s Villeroy warns
WASHINGTON (Reuters) – Europe’s energy subsidies may reduce the current rate of inflation but only at the expense of future higher readings, potentially complicating the task of monetary policy, European Central Bank…
Lawmakers press U.S. Commerce for tougher checks on semiconductor chip subsidies
By David Shepardson WASHINGTON (Reuters) – A group of Democratic lawmakers wants the U.S. Commerce Department to take additional steps to ensure semiconductor companies do not use government subsidies to conduct stock…
Analysis-Nigeria squanders oil price bonanza as gasoline subsidies soar
By Julia Payne LONDON (Reuters) – Nigeria has failed to capitalise on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now…
Nigeria’s fuel subsidies surpassed $1 billion in Aug as it supplied more petrol
By Camillus Eboh ABUJA (Reuters) – The cost of Nigeria’s fuel subsidies rose to 525.714 billion naira ($1.22 billion) in August, bringing the total spent this year to 2.568 trillion naira, according…
SpaceX appeals U.S. FCC rejection of rural broadband subsidies
By Joey Roulette WASHINGTON (Reuters) -SpaceX on Friday challenged the U.S. Federal Communications Commission’s (FCC) decision to deny the space company’s satellite internet unit $885.5 million in rural broadband subsidies, calling the…
Pertamina defers some gasoline imports ahead of cuts to fuel subsidies
NEW DELHI (Reuters) – Indonesia’s state-owned oil giant Pertamina, Asia’s biggest gasoline importer, has deferred some of its gasoline deliveries for September ahead of planned government cuts to fuel subsidies which are…
Mexico anti-inflation subsidies come with $28 billion price tag
MEXICO CITY – Subsidies from the Mexican government to combat rising inflation in the country have cost some 575 billion pesos ($28.04 billion) this year, officials said on Tuesday, adding that these…
U.S. Congress passage of subsidies prompts chip makers to move on projects
By Jane Lanhee Lee (Reuters) – Major semiconductor makers on Thursday hailed passage in the U.S. Congress of a pot of federal government money for new chip factories in the United States,…
Brazil’s Economy Ministry tries to limit spending on fuel-related subsidies, sources say
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s Economy Ministry is trying to limit the cost of higher cooking gas subsidies and a new cash transfer program for truck drivers, which…
IMF urges countries to support vulnerable, avoid blanket subsidies as food, fuel prices soar
By Rachel Savage LONDON – The IMF said on Tuesday governments fighting soaring food and fuel prices should target aid to vulnerable citizens rather than issue across-the-board aid that risked adding to…
Pakistan slashes fuel subsidies in bid to control fiscal deficit – finance minister
KARACHI, Pakistan – Pakistan will slash fuel subsidies for a second time in a week in a bid to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money, the…
Chinese city offers Nobel Prize winners $1.5 million housing subsidies
BEIJING – The industrialised Chinese coastal city of Wuxi is offering Nobel Prize winners up to 10 million yuan ($1.48 million) in housing subsidies to attract top talent in a national economy…
Pakistan to keep energy subsidies unchanged against IMF advice
By Asif Shahzad ISLAMABAD – Pakistan said on Saturday it would maintain subsidies to keep fuel and power prices steady for consumers, going against International Monetary Fund (IMF) recommendations as the country…
‘Too early’ to say if Poland will seek EU approval for more coal subsidies – minister
By Marek Strzelecki and Kate Abnett WARSAW – It is too early to say if Poland will ask the European Union for approval to extend capacity market support for coal-fuelled power plants,…
U.S. Energy Secretary unsure if Michigan, California nuclear plants will seek subsidies
By Nichola Groom LOS ANGELES – U.S. Energy Secretary Jennifer Granholm said on Thursday she was unsure if two nuclear power plants with previous plans to shut will apply for subsidies the…
EU launches first WTO challenge against Britain over green subsidies
BRUSSELS – The European Union has launched its first ever challenge against Britain at the World Trade Organization over its former member’s green subsidy scheme. The European Commission, which oversees trade policy…
Factbox: Global fuel subsidies ramped up to counter energy price spike
SINGAPORE – Countries have announced fuel subsidies to cushion consumers from the impact of soaring energy prices after oil skyrocketed last week to 14-year highs. Here are the measures announced: JAPAN The…
Brazil economy minister backs bigger cooking gas subsidies as crude costs soar -sources
By Marcela Ayres and Bernardo Caram BRASILIA – Brazil’s economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict,…
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