French finance minister says the battle over digital tax is not over yet

DAVOS, Switzerland – The United States has agreed to suspend tariffs on French goods over a digital taxation dispute, but there is still work to be done between the two, France’s finance minister said Wednesday. Paris argued that digital firms were paying little to no tax; but the United States said the levy was particularly “burdensome” for American firms and Washington threatened to impose tariffs on French products. Speaking to reporters at the World Economic Forum, Bruno Le Maire, the French


DAVOS, Switzerland – The United States has agreed to suspend tariffs on French goods over a digital taxation dispute, but there is still work to be done between the two, France’s finance minister said Wednesday.
Paris argued that digital firms were paying little to no tax; but the United States said the levy was particularly “burdensome” for American firms and Washington threatened to impose tariffs on French products.
Speaking to reporters at the World Economic Forum, Bruno Le Maire, the French
French finance minister says the battle over digital tax is not over yet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: silvia amaro
Keywords: news, cnbc, companies, france, basis, states, french, tax, battle, digital, minister, finance, united, maire, work, taxation


French finance minister says the battle over digital tax is not over yet

DAVOS, Switzerland – The United States has agreed to suspend tariffs on French goods over a digital taxation dispute, but there is still work to be done between the two, France’s finance minister said Wednesday.

The two countries have been at odds over taxation of tech companies since France announced a levy of 3% on sales generated by digital giants, such as Google and Facebook. Paris argued that digital firms were paying little to no tax; but the United States said the levy was particularly “burdensome” for American firms and Washington threatened to impose tariffs on French products.

Speaking to reporters at the World Economic Forum, Bruno Le Maire, the French finance minister, said his country had accepted a postponement of the payments to the end of 2020.

“In exchange of this postponement … the U.S. accepts to suspend the sanctions against France,” Le Maire said.

However, this is not the end of their dispute. Both agreed to develop an international framework for digital taxation at the OECD level, but they disagree on how to shape it. The United States believes companies should be able to decide whether to reallocate a portion of their corporate profits, whereas France believes the system should be compulsory.

“We still need to have a clear understanding of what will be the working basis at the OECD. And we want this basis to be solid, credible and fair. An optional basis would not be credible,” Le Maire said.

“So, there’s still some work to be done,” the French politician said.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: silvia amaro
Keywords: news, cnbc, companies, france, basis, states, french, tax, battle, digital, minister, finance, united, maire, work, taxation


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‘We have never served one gram of caviar’: Meet the man feeding the Davos elite

DAVOS, Switzerland — Between 6,000 and 8,000 people, including world leaders, staff, security and the media are fed every day from the Davos kitchen during the World Economic Forum (WEF). Well, they are not eating in a Michelin star restaurant — there is no caviar or foie gras — the man feeding the Davos elite told CNBC Monday. “Everybody thinks we are serving caviar, we have never served one gram of caviar,” said Christophe Guiraud, food and beverage manager at the annual meeting, of the twelve


DAVOS, Switzerland — Between 6,000 and 8,000 people, including world leaders, staff, security and the media are fed every day from the Davos kitchen during the World Economic Forum (WEF).
Well, they are not eating in a Michelin star restaurant — there is no caviar or foie gras — the man feeding the Davos elite told CNBC Monday.
“Everybody thinks we are serving caviar, we have never served one gram of caviar,” said Christophe Guiraud, food and beverage manager at the annual meeting, of the twelve
‘We have never served one gram of caviar’: Meet the man feeding the Davos elite Cached Page below :
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'We have never served one gram of caviar': Meet the man feeding the Davos elite

DAVOS, Switzerland — Between 6,000 and 8,000 people, including world leaders, staff, security and the media are fed every day from the Davos kitchen during the World Economic Forum (WEF). But what do they eat? Well, they are not eating in a Michelin star restaurant — there is no caviar or foie gras — the man feeding the Davos elite told CNBC Monday. “Everybody thinks we are serving caviar, we have never served one gram of caviar,” said Christophe Guiraud, food and beverage manager at the annual meeting, of the twelve years he has worked at the event.

Christophe Guiraud, the food and beverage manager at the Annual Meeting in Davos.

“We serve very simple things. People are here to share ideas, to meet, they are not here to have a fantastic dinner with a Michelin-star chef … They are here to work,” Guiraud told CNBC. One of this week’s lunch menus, served to representatives from companies such as BP, Goldman Sachs and Facebook includes pumpkin soup, broccoli mousse with nuts, smoked halloumi and chocolate cake. But according to Guiraud, world leaders can easily be seen eating a “normal sandwich.”

“The top leaders in Davos are very easy to handle because they don’t have so many people around (them), making things difficult,” he said. “For example, you can find a head of state eating a normal sandwich or a normal salad at the bar — this is Davos,” Guiraud told CNBC. WEF has been taking steps to make its kitchen more environmentally friendly. This means the food that is served daily is mostly from Switzerland. 97% of the cheese served is from Davos itself. WEF has also restarted purchases of salmon recently, only after securing a Swiss supplier.

The main kitchen at Davos

“One difficult thing is the region is quite small. Switzerland is quite a small country in the mountains so you really have to define the products that you can find in enough quantities to feed all of these people,” Guiraud said, explaining that he struggled to find enough apples last year because local production was insufficient. WEF is also looking to reduce food waste by using artificial intelligence. The AI technology is installed on several trash cans in the main building that photographs waste and weighs food that has been disposed. The system then provides a report on the different types, weight, costs and sources of the food that has been binned. This information is then used to analyze and organize future food orders which can help reduce waste.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: silvia amaro
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A ‘pre-election speech’: Attendees react to Trump’s Davos address

President Donald Trump addresses the World Economic Forum at the congress centre in Davos, on January 21, 2020. Fabrice Coffrini | AFP | Getty ImagesDAVOS, Switzerland — Some attendees at the World Economic Forum (WEF) have described President Donald Trump’s remarks on Tuesday as being a little too optimistic. In what was his second speech as U.S. leader at Davos, Trump outlined how his “America-first” approach had worked and advised other countries to follow suit. During his remarks, Trump ment


President Donald Trump addresses the World Economic Forum at the congress centre in Davos, on January 21, 2020.
Fabrice Coffrini | AFP | Getty ImagesDAVOS, Switzerland — Some attendees at the World Economic Forum (WEF) have described President Donald Trump’s remarks on Tuesday as being a little too optimistic.
In what was his second speech as U.S. leader at Davos, Trump outlined how his “America-first” approach had worked and advised other countries to follow suit.
During his remarks, Trump ment
A ‘pre-election speech’: Attendees react to Trump’s Davos address Cached Page below :
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A 'pre-election speech': Attendees react to Trump's Davos address

President Donald Trump addresses the World Economic Forum at the congress centre in Davos, on January 21, 2020. Fabrice Coffrini | AFP | Getty Images

DAVOS, Switzerland — Some attendees at the World Economic Forum (WEF) have described President Donald Trump’s remarks on Tuesday as being a little too optimistic. The U.S. president addressed politicians and business leaders at WEF on Tuesday morning, where he took credit for America’s “stunning turnaround.” In what was his second speech as U.S. leader at Davos, Trump outlined how his “America-first” approach had worked and advised other countries to follow suit. However, some of the audience members looking on argued that Trump was actually talking to voters back home. “He painted a very golden big picture (of the U.S.),” Luiz Carlos Trabuco Cappi, chairman of Banco Bradesco, told CNBC. “What he came here to do was to speak to his electorate,” Cappi also said.

During his remarks, Trump mentioned how the United States is experiencing an “economic boom” and that the U.S. middle class is benefiting the most from it. The International Monetary Fund (IMF) said Monday it foresees a slight fall in growth for the U.S. economy. It expects GDP growth to reach 2.3% in 2019, 2% in 2020 and 1.7% in 2021. “It was a very normal speech in substance, but it was much more disciplined and less emotional,” Kenneth Rogoff, professor at Harvard University, told CNBC about Trump’s address. “Some of the facts he cited were important,” Rogoff said, “Some of the other facts he cited I don’t know (from) what planet they came from; in particular that his administration has adopted policies that has made it easier for women to get childcare.” At his address, Trump said that his administration has made “extraordinary strides.” “We are lifting up forgotten communities, creating exciting new opportunities, and helping every American find their path to the American Dream — the dream of a great job, a safe home, and a better life for their children,” Trump said.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: silvia amaro
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The US needs a national privacy law for personal data, Salesforce co-CEO says

In comparison, the European Union approved a sweeping data privacy law in 2018 known as the General Data Protection Regulation (GDPR), aimed at giving users a bigger say over their own data. “There is no question there needs to be some sort of regulation in the United States. It would be terrific if we had a national data privacy law; instead we have privacy by zipcode, which is not a good outcome,” he said. Concerns over data privacy have come to the forefront of public debate in particular sin


In comparison, the European Union approved a sweeping data privacy law in 2018 known as the General Data Protection Regulation (GDPR), aimed at giving users a bigger say over their own data.
“There is no question there needs to be some sort of regulation in the United States.
It would be terrific if we had a national data privacy law; instead we have privacy by zipcode, which is not a good outcome,” he said.
Concerns over data privacy have come to the forefront of public debate in particular sin
The US needs a national privacy law for personal data, Salesforce co-CEO says Cached Page below :
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The US needs a national privacy law for personal data, Salesforce co-CEO says

Keith Block, co-chief executive officer of Salesforce.com Inc., speaks during the opening keynote at the DreamForce conference in San Francisco, California, U.S., on Tuesday, Sept. 25, 2018.

DAVOS, Switzerland — The United States needs to develop a national privacy law for personal data, in a similar fashion to what the European Union has done, the head of Salesforce said at a panel discussion at the World Economic Forum (WEF) Tuesday.

In the United States, there is no single federal law that gives protection to citizens over their data. Instead, the issue is currently dealt with under different sets of legislation at the state and federal levels. In comparison, the European Union approved a sweeping data privacy law in 2018 known as the General Data Protection Regulation (GDPR), aimed at giving users a bigger say over their own data.

“You have to applaud, for example, the European Union for coming up with GDPR and hopefully there will be a GDPR 2.0,” Keith Block, co-CEO of Salesforce, said at a panel in Davos.

“There is no question there needs to be some sort of regulation in the United States. It would be terrific if we had a national data privacy law; instead we have privacy by zipcode, which is not a good outcome,” he said.

Concerns over data privacy have come to the forefront of public debate in particular since the Cambridge Analytica scandal in 2018. This event showed how third parties could influence election results by using data from Facebook users.

As a result, addressing privacy concerns has become an important issue for tech giants, such as Facebook and Apple. In the case of these two firms, both have called on U.S. officials to toughen up privacy law across the country.

Speaking at the same Davos panel, Daniel Schulman, CEO of PayPal, said that the current way of displaying terms and conditions is not good for anybody.

“At this point, if you look at the typical terms of acceptance and people are reading this on a mobile phone right now and they are like 45 pages long … And nobody reads them, and they just check ‘I agree’ — And that does nobody any good in terms of protecting privacy,” Schulman said.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: silvia amaro
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US-China phase one deal is a ‘disaster,’ former senior economist at the White House says

DAVOS, Switzerland – The U.S.-China phase one deal does not address structural problems in the bilateral trade relationship, a panel of trade experts at the World Economic Forum said Tuesday. “While this deal is great in the sense that it has calmed things, additional tariffs aren’t going on, aside from that the deal is essentially a disaster. Bown, who served as a senior economist for international trade in the White House, under Obama’s leadership, said he is “very worried” about what’s in the


DAVOS, Switzerland – The U.S.-China phase one deal does not address structural problems in the bilateral trade relationship, a panel of trade experts at the World Economic Forum said Tuesday.
“While this deal is great in the sense that it has calmed things, additional tariffs aren’t going on, aside from that the deal is essentially a disaster.
Bown, who served as a senior economist for international trade in the White House, under Obama’s leadership, said he is “very worried” about what’s in the
US-China phase one deal is a ‘disaster,’ former senior economist at the White House says Cached Page below :
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US-China phase one deal is a 'disaster,' former senior economist at the White House says

Chinese Vice Premier Liu He shakes hands with US President Donald Trump during a signing ceremony for trade agreement between the US and China in the East Room of the White House in Washington, DC, January 15, 2020.

DAVOS, Switzerland – The U.S.-China phase one deal does not address structural problems in the bilateral trade relationship, a panel of trade experts at the World Economic Forum said Tuesday.

After about two years of a tit-for-tat tariffs dispute, the two largest world economies seemed to have calmed the debate last week with the signing of an initial agreement. The deal didn’t roll back all tariffs imposed between Washington D.C. and Beijing, but both parties agreed to discuss that during the next round of trade negotiations.

However, experts speaking at the WEF said the deal is a “disaster” and simply an “intermediate step” to allow tensions to calm down.

“While this deal is great in the sense that it has calmed things, additional tariffs aren’t going on, aside from that the deal is essentially a disaster. It doesn’t address any of the systemic issues,” Chad Bown, senior fellow at the Peterson Institute for International Economics, said.

Bown, who served as a senior economist for international trade in the White House, under Obama’s leadership, said he is “very worried” about what’s in the agreement.

China agreed to buy an additional $200 billion in U.S. goods over the next two years, as part of the deal. President Donald Trump, who addressed the Davos forum earlier on Tuesday, said the number of purchases could end up closer to $300 billion.

“These are unrealistic numbers, which puts the whole viability of the deal into question,” Bown said, adding that the only way to reach these figures is by diverting trade away from other countries, such as soy beans away from Brazil and fish away from Canada.

Among the additional purchases of U.S. goods, China has committed to buy at least $40 billion worth of American farming products. However, a leading commodities expert at Goldman Sachs casted doubts over whether China will manage to do that. Speaking to CNBC earlier this month Jeff Currie said “there is still a lot of uncertainty about how you would achieve $40 (billion) or potentially even $50 billion of agricultural purchases.”

However, most trade experts argue that the most difficult trade negotiations between the U.S. and China have yet to begin.

“When we think about the phase one deal it is the easier part of this, you can have Chinese people buying more U.S. goods and somehow the Chinese consumers will have to absorb the 2.4 billion dollars of American nuts and say goodbye to the New Zealand, Australians suppliers… but that’s the easy part,” Jin Keyu, associate professor at the London School of Economics (LSE) said at the WEF panel.

“The difficult part is really much about the model that China has, the political economy model that uses strong state capacity,” she added.

One of the main arguments used by President Trump in his dispute with China is the trade deficit between both economies. Data released earlier this month showed that the U.S. trade deficit with China fell to $43.09 billion for the month — the lowest level since October 2016.

However, Keyu warned the numbers could change.

“The grand irony is that if China actually did everything that the U.S. demanded it to do the result was going to be a much more successful Chinese economy and a much larger trade deficit in the U.S,” she said.

Nonetheless, speaking at the same Davos panel, the head of the World Trade Organization, Roberto Azevedo said: “The political impact of (the phase one deal) cannot be underestimated.”

Graciela Márquez Colín, the Mexican economy minister, also sitting at the panel explained that the deal is an “intermediate step” to calm down ongoing tensions.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: silvia amaro
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IMF says the outlook for the global economy ‘remains sluggish’ as it cuts growth forecasts

Mandel Ngan | AFP | Getty ImagesThe International Monetary Fund (IMF) has become less optimistic about global growth, warning that the outlook remains sluggish and there are no clear signs of a turning point. The Washington-based institution forecast in October a global growth rate of 3% for 2019 and of 3.4% for 2020. “The projected recovery for global growth remains uncertain. However, the IMF is cautious about the state of the global economy going forward, in particular about further trade ten


Mandel Ngan | AFP | Getty ImagesThe International Monetary Fund (IMF) has become less optimistic about global growth, warning that the outlook remains sluggish and there are no clear signs of a turning point.
The Washington-based institution forecast in October a global growth rate of 3% for 2019 and of 3.4% for 2020.
“The projected recovery for global growth remains uncertain.
However, the IMF is cautious about the state of the global economy going forward, in particular about further trade ten
IMF says the outlook for the global economy ‘remains sluggish’ as it cuts growth forecasts Cached Page below :
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IMF says the outlook for the global economy 'remains sluggish' as it cuts growth forecasts

The seal of the International Monetary Fund(IMF) is seen outside of the headquarters building in Washington, DC on April 8, 2019. Mandel Ngan | AFP | Getty Images

The International Monetary Fund (IMF) has become less optimistic about global growth, warning that the outlook remains sluggish and there are no clear signs of a turning point. The Washington-based institution forecast in October a global growth rate of 3% for 2019 and of 3.4% for 2020. The IMF has now revised down those forecasts to 2.9% and 3.3%, respectively. The downward revision was mostly due to lower growth in India. For 2021, the Fund has forecast a growth rate of 3.4%. “The projected recovery for global growth remains uncertain. It continues to rely on recoveries in stressed and underperforming emerging market economies, as growth in advanced economies stabilizes at close to current levels,” Gita Gopinath, the IMF’s chief economist, said in a written statement. Nonetheless, the Fund noted that some of the biggest economic uncertainties, highlighted in October, have dissipated. “Some risks have partially receded with the announcement of a U.S.-China Phase I trade deal and lower likelihood of a no-deal Brexit,” Gopinath said.

The U.S. signed a “phase one” trade deal with China last week. Though the deal has kept some of the existing trade tariffs, it was interpreted as a truce by markets in the heated dispute that started back in 2018. Meanwhile in the U.K., lawmakers have approved an agreement that outlines how the country will leave the European Union, scheduled for January 31. The approval allows the U.K. to avoid an abrupt breakup from the EU later this month and gives more certainty to business and citizens on both sides of the English Channel, at least until the end of 2020. In addition, the IMF has said that central banks are expected to keep supporting their respective economies. “Monetary policy has continued to support growth and buoyant financial conditions. With these developments, there are now tentative signs that global growth may be stabilizing, though at subdued levels,” Gopinath also said in the report. However, the IMF is cautious about the state of the global economy going forward, in particular about further trade tensions. “New trade tensions could emerge between the United States and the European Union, and U.S.-China trade tensions could return,” Gopinath said.


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: silvia amaro
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IMF hoping for a ‘more comprehensive’ US-China deal as the months go by

DAVOS, Switzerland — The International Monetary Fund (IMF) is hoping that China and the United States will reach a broader trade agreement in the coming months, despite the recent signing of their “phase one” deal. “While we have had positive news with the U.S.-China ‘phase one’ trade deal, there’s obviously a lot more that still needs to be done,” Gita Gopinath, the IMF’s chief economist, told CNBC Monday. “We would hope there would be a more comprehensive deal between the U.S. and China as the


DAVOS, Switzerland — The International Monetary Fund (IMF) is hoping that China and the United States will reach a broader trade agreement in the coming months, despite the recent signing of their “phase one” deal.
“While we have had positive news with the U.S.-China ‘phase one’ trade deal, there’s obviously a lot more that still needs to be done,” Gita Gopinath, the IMF’s chief economist, told CNBC Monday.
“We would hope there would be a more comprehensive deal between the U.S. and China as the
IMF hoping for a ‘more comprehensive’ US-China deal as the months go by Cached Page below :
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IMF hoping for a 'more comprehensive' US-China deal as the months go by

DAVOS, Switzerland — The International Monetary Fund (IMF) is hoping that China and the United States will reach a broader trade agreement in the coming months, despite the recent signing of their “phase one” deal.

The two largest economies in the world agreed to roll back some of their existing trade tariffs last week in what was dubbed as a “phase one” deal. The agreement also envisaged higher Chinese purchases of U.S. agricultural goods and it was seen as a temporary truce in a two-year-long dispute between Washington, D.C., and Beijing. However, the IMF is expecting more from both nations.

“While we have had positive news with the U.S.-China ‘phase one’ trade deal, there’s obviously a lot more that still needs to be done,” Gita Gopinath, the IMF’s chief economist, told CNBC Monday.

“We would hope there would be a more comprehensive deal between the U.S. and China as the months go by,” Gopinath also told CNBC at the World Economic Forum in Davos, Switzerland.

In its latest economic update, released Monday, the IMF trimmed its global growth forecasts. The Fund now expects a global growth rate of 3.3% for 2020. In the report, the IMF also warned that trade tensions and disruptions could return.

The signing of the deal is expected to boost the Chinese economy slightly. The IMF upped its growth forecast for China by 0.2 percentage points for 2020 to 6%.

“However, unresolved disputes on broader U.S.-China economic relations, as well as needed domestic financial regulatory strengthening, are expected to continue weighing on activity,” the IMF said Monday.

Speaking to CNBC at Davos, Gopinath added that “trade tensions and disruptions is something that we put out there as an important risk.”


Company: cnbc, Activity: cnbc, Date: 2020-01-20  Authors: silvia amaro
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US futures point to higher open

U.S. stock index futures were slightly higher Friday morning as investors digest growth data out of China. ET, Dow futures rose 42 points, indicating a positive open of more than 31 points. Futures on the S&P and Nasdaq were also higher. U.S. stocks rose to fresh highs on Thursday amid stronger-than-expected results from Morgan Stanley. On Friday morning, new data out of China indicated that the economy grew at a pace of 6.1% in 2019, in line with expectations.


U.S. stock index futures were slightly higher Friday morning as investors digest growth data out of China.
ET, Dow futures rose 42 points, indicating a positive open of more than 31 points.
Futures on the S&P and Nasdaq were also higher.
U.S. stocks rose to fresh highs on Thursday amid stronger-than-expected results from Morgan Stanley.
On Friday morning, new data out of China indicated that the economy grew at a pace of 6.1% in 2019, in line with expectations.
US futures point to higher open Cached Page below :
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US futures point to higher open

U.S. stock index futures were slightly higher Friday morning as investors digest growth data out of China.

At around 1:30 a.m. ET, Dow futures rose 42 points, indicating a positive open of more than 31 points. Futures on the S&P and Nasdaq were also higher.

U.S. stocks rose to fresh highs on Thursday amid stronger-than-expected results from Morgan Stanley. Meanwhile, on the tech front, Microsoft rose to record levels and Alphabet, the parent company of Google, reached a market cap of $1 trillion for the first time.

On Friday morning, new data out of China indicated that the economy grew at a pace of 6.1% in 2019, in line with expectations. Asian stocks jumped on the data release.

Investors will be monitoring new housing starts and building permits due in the U.S. at 8:30 a.m. Industrial production figures are set to be published at 9:15 a.m. ET and consumer sentiment as well as the latest JOLTS report are due at 10 a.m. ET.

On the corporate front, Schlumberger, Citizens Fincl. and Kansas City Southern are set to report before the bell.

IMF Managing Director Georgieva is due to speak at the Peterson Institute at 10 a.m. ET.


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Apple may be forced to ditch its Lightning charge cable due to new EU rules

The European Union (EU) is revamping plans that could force smartphone makers, such as Apple, to share the same charging method. European policymakers want to make life easier for consumers as well as to reduce electronic waste across the 28-country region. “We are drowning in an ocean of electronic waste,” Roza Thun und Hohenstein, a European lawmaker said at the European Parliament Monday. Old chargers generate more than 51 000 metric tons of electronic waste per year, according to the Europea


The European Union (EU) is revamping plans that could force smartphone makers, such as Apple, to share the same charging method.
European policymakers want to make life easier for consumers as well as to reduce electronic waste across the 28-country region.
“We are drowning in an ocean of electronic waste,” Roza Thun und Hohenstein, a European lawmaker said at the European Parliament Monday.
Old chargers generate more than 51 000 metric tons of electronic waste per year, according to the Europea
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Apple may be forced to ditch its Lightning charge cable due to new EU rules

On September 7th Apple will release the highly anticipated iPhone 7. Design changes to the new model are suggested to affect the 3,5mm headphone jack, to be replaced with the proprietary Lightning jack.

The European Union (EU) is revamping plans that could force smartphone makers, such as Apple, to share the same charging method.

European policymakers want to make life easier for consumers as well as to reduce electronic waste across the 28-country region. As a result, they are looking at introducing a single universal charging cable. This would be particularly relevant for Apple given its different charging options.

“We are drowning in an ocean of electronic waste,” Roza Thun und Hohenstein, a European lawmaker said at the European Parliament Monday. “We cannot continue this way,” she added.

Old chargers generate more than 51 000 metric tons of electronic waste per year, according to the European Parliament. Lawmakers want one single charger that fits phones, tables, e-books and any other portable device. Apple’s Lightning connector cable, which is used to charge and sync different devices, would therefore be at risk.

However, Apple believes that the EU’s plan would hurt innovation.

“Regulations that would drive conformity across the type of connector built into all smartphones freeze innovation rather than encourage it. Such proposals are bad for the environment and unnecessarily disruptive for customers,” Apple said in a feedback form issued to the European institutions last year.

Apple, of its own choice, has already stopped using Lightning on the 2019 version of the iPad, moving to the USB-C port used on MacBooks. USB-C and micro-USB are also used on Android devices.

“This has been a long-term objective of the industry,” Dexter Thillien, a senior industry analyst at Fitch Solutions, told CNBC Friday. “Most Android devices already use the same charging system (USB-C and micro-USB), so it would impact Apple more than anybody else.”

However, Thillien also noted that Apple is already using USB for some iPads, “so it wouldn’t be completely new for them, and would only apply to future models.”

The EU pushed for a single charging mechanism back in 2014. At the time, the European Commission – the EU’s executive arm, tried to encourage smartphone makers to develop a solution among themselves. However, the voluntary scheme did not achieve what European policymakers wanted and they are now looking at putting it into law.

“It is never too late for industry to come up with a suitable proposal, but we now must consider the legislative approach,” a Commission source told CNBC via email.


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: silvia amaro
Keywords: news, cnbc, companies, cable, european, forced, rules, lightning, usbc, electronic, charge, single, waste, charging, used, industry, apple, ditch


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‘A new world disorder’: Global leaders head to Davos 2020 in search of stability

BERLIN, GERMANY – FEBRUARY 07: German Chancellor Angela Merkel in the course of a special faction meeting, on February 07, 2018 in Berlin, Germany. Thousands of politicians and business leaders will address this question as they attend this year’s World Economic Forum (WEF) in Davos, Switzerland. In the words of Davos attendee and the former Prime Minister of Finland, Alexander Stubb, there’s a “new world disorder” that needs to be addressed. “Right now, the U.S. has left power vacuums, on trade


BERLIN, GERMANY – FEBRUARY 07: German Chancellor Angela Merkel in the course of a special faction meeting, on February 07, 2018 in Berlin, Germany.
Thousands of politicians and business leaders will address this question as they attend this year’s World Economic Forum (WEF) in Davos, Switzerland.
In the words of Davos attendee and the former Prime Minister of Finland, Alexander Stubb, there’s a “new world disorder” that needs to be addressed.
“Right now, the U.S. has left power vacuums, on trade
‘A new world disorder’: Global leaders head to Davos 2020 in search of stability Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: silvia amaro
Keywords: news, cnbc, companies, global, davos, union, leadership, security, leaders, 2020, head, world, stability, search, power, vacuums, stubb, trade, disorder, climate


'A new world disorder': Global leaders head to Davos 2020 in search of stability

BERLIN, GERMANY – FEBRUARY 07: German Chancellor Angela Merkel in the course of a special faction meeting, on February 07, 2018 in Berlin, Germany.

Where are we headed? Thousands of politicians and business leaders will address this question as they attend this year’s World Economic Forum (WEF) in Davos, Switzerland.

Next week’s gathering is taking place at a time of heightened trade disruptions, shifts in foreign policy and a climate emergency — just to name some of the main challenges facing global leadership. In the words of Davos attendee and the former Prime Minister of Finland, Alexander Stubb, there’s a “new world disorder” that needs to be addressed.

“Right now, the U.S. has left power vacuums, on trade, climate, security; world leadership in general. Who’s going to fulfil those vacuums?” Stubb asked during a phone interview with CNBC Monday.

The European Union (EU) has tried to be a mediator between the United States and the Middle East, attempted leadership on climate aims, and despite a more protectionist tone out of the White House, continued to back multilateral trade. However, internal divergences within the 28-member union, including on security policy, has not enabled it to drive the global agenda.

“The U.S. is playing a different power game than what we were used to,” Stubb told CNBC, before adding, “I will be looking very closely to the geopolitics at Davos.”


Company: cnbc, Activity: cnbc, Date: 2020-01-17  Authors: silvia amaro
Keywords: news, cnbc, companies, global, davos, union, leadership, security, leaders, 2020, head, world, stability, search, power, vacuums, stubb, trade, disorder, climate


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