Chief-Exec News Bites
France's Macron calls Musk ‘over-subsidised,’ urges Europe to support domestic industry
French President Emmanuel Macron on Wednesday cited state support for Elon Musk's Starlink as an argument for public investment in European industry, provoking a response from the world's richest man after calling him "over-subsidised". Speaking at an industrial summit in the Belgian city of Antwerp, Macron argued for a "Buy European" competitiveness approach, and for massive investment partly financed through joint borrowing by the European Union. "If you look at the US, you have a lot of private money … but you have a lot of public money" too, he said. "Everybody is fascinated by Starlink … But if you are lucid, Mr. Musk is probably one of the guys of the world who has had in his pockets the most … billions [of] dollars of the American taxpayers in order to be subsidised," he added. "Elon Musk is first an oversubsidised guy by the federal agency in the US," he said, calling the approach "super-innovative". The French leader earlier said that more joint EU debt was the "only way" to compete on an economic level with rivals such as the US and China. France 24, February 12
Donald Trump prompts global surge in people viewing US as a threat
Donald Trump’s first year back in the White House has produced a surge in the number of people in the west and emerging markets who see the US as a threat to their country’s security, according to polling for the Munich Security Conference. The biggest increase in threat perceptions was in Canada, according to the survey, which was carried out by consultants Kekst CNC for the Munich Security Index. Trump has repeatedly threatened the US’s neighbour with punitive tariffs and even a takeover since returning to power last year. Canadians are almost as likely as Chinese people to regard the US as a threat to their country, the poll found. The polling underscores how the Trump administration has swung a wrecking ball through America’s traditional alliances and alienated opinion in big emerging economies with its aggressive trade policies, warmth towards Russia and pushback against perceived infringements of freedom of speech globally. Financial Times, February 12
Russia moves to block WhatsApp in messaging app crackdown
Russia has "attempted to fully block" WhatsApp in the country, the company said, as the Kremlin continues to tighten restrictions on messaging apps. Meta-owned WhatsApp said the move aimed to push more than 100 million of its app users in Russia to a "state-owned surveillance app". Kremlin spokesman Dmitry Peskov said Meta could resume operations if it "complies with [the law] and enters into dialogue", but stood "no chance" if it refused. Russian internet regulator Roskomnadzor said earlier this week it was further curbing access to messaging app Telegram as well, citing a lack of security. Telegram is highly popular in Russia and widely used by its forces in Ukraine. Pro-war bloggers have complained that the move was hampering communications on the ground. Russia has argued that both WhatsApp and Telegram have refused to store Russian users' data in the country as required by law. WhatsApp said it was doing everything it could to keep people connected. BBC news, February 12
Sir Jim Ratcliffe: Britain has been colonised by immigrants
Britain has been “colonised” by immigrants who are “costing too much money”, Manchester United’s co-owner Sir Jim Ratcliffe has said. In an outspoken interview, the founder of the global Ineos Group chemicals company blamed Britain’s poor economic state on immigration and the large numbers of people claiming benefits. He said that Britain’s political leaders must “do some difficult things with the UK to get it back on track”. Ratcliffe, one of Britain’s richest men, who moved his primary residence to the tax haven of Monaco in 2020, claimed the UK needed to be led by a prime minister who was “prepared to be unpopular for a period of time to get the big issues sorted out”. He suggested that the government should take inspiration from his unpopularity at Manchester United to “do difficult things which we felt that we had to do”. The Times, February 12
Switzerland to vote on far-right proposal to cap population at 10 million
Switzerland will vote this summer on a proposal from the far-right Swiss People’s party (SVP) to limit the country’s population to 10 million, a move that would threaten key agreements with the EU and, opponents say, cripple its economy. The government said on Wednesday the referendum on the SVP’s “No to a 10 million Switzerland” initiative, which is strongly opposed by both chambers of parliament and the business and financial services community, would be held on 10 June. The initiative would oblige the Swiss government and parliament to act if the country’s permanent population of 9.1 million exceeds 9.5 million by denying entrance to newcomers, including asylum seekers and the families of foreign residents. The Guardian, February 12
Zelenskyy planning elections in Ukraine and vote on peace deal
Ukraine has begun planning presidential elections alongside a referendum on any peace deal with Russia, after the Trump administration pressed Kyiv to hold both votes by May 15 or risk losing proposed US security guarantees. The move, according to Ukrainian and western officials and others familiar with the matter, comes amid intense pressure on Kyiv by the White House to wrap up peace negotiations between Ukraine and Russia in the spring. The plan aligns with a US push, outlined by Volodymyr Zelenskyy to reporters last Friday, to have all documents signed to bring Europe’s largest conflict since the second world war to an end by June. “They say that they want to do everything by June … so that the war ends,” Ukraine’s president told reporters, citing the White House’s desire to shift its focus to the US midterm elections in November. “And they want a clear schedule.” Financial Times, February 11
UK doubles troops in Norway to counter Russian 'threat to Arctic'
The number of British troops in Norway will double over the next three years as part of efforts to combat Russian threats in the High North. Defence Secretary John Healey said the number of armed forces personnel stationed in the Arctic nation would rise from around 1,000 to 2,000. The commitment follows increasing concern among Nato allies about Russia's activities in the Arctic, including the reopening of old Cold War bases and a growing military presence in the region. "Demands on defence are rising and Russia poses the greatest threat to Arctic and High North security that we have seen since the Cold War," Healey said. The defence secretary will join Nato counterparts at the alliance's headquarters in Brussels on Thursday to discuss the proposals. The Arctic Sentry, proposed by Foreign Secretary Yvette Cooper, aims to bolster surveillance and security in the region - modelled on existing Nato alliances such as the Baltic Sentry and the Eastern Sentry. As part of the expanded presence, 1,500 Royal Marine Commandos will take part in Nato's Exercise Cold Response in March. The large-scale drill across Norway, Finland and Sweden is designed to train allied forces in extreme Arctic conditions. BBC news, February 11
EU lawmakers back tougher asylum rules allowing fast-track rejections
EU lawmakers approved changes to the European Union asylum system on Tuesday, paving the way for fast-track asylum rejections and the possible transfer of asylum seekers to countries with which they have little or no connection. The move underlines the rise in anti-immigration sentiment across the European Union over the past decade that has broadened popular support for far-right parties. The text, which requires final formal approval from the 27 EU member governments, marks a sharp hardening of EU migration policy that has taken shape since an influx of over a million refugees and migrants in 2015-16. The move drew heavy criticism from humanitarian groups, who said it could lead to human rights violations and a diminution of asylum rights under a 1951 convention that prohibits returns of asylum seekers to countries where they could be in danger. France 24, February 11
Apple and Google pledge to overhaul ‘unfair’ app store rules
Apple and Google have pledged to make their mobile app stores fairer for thousands of UK businesses reliant upon them, following an agreement with the UK’s competitions regulator. The Competition and Markets Authority is assessing a series of commitments made by the two technology companies to improve the “certainty, transparency and fairness” of their app stores. The tech groups said they would review and rank third-party apps in a way that did not give “preferential treatment” to Apple and Google’s own apps, nor “discriminate” against rival third-party apps. The duo have also promised to refrain from using data collected from third-party apps in a way that could give Apple and Google an unfair advantage through their own apps. The Times, February 10
Ireland’s basic income for the arts scheme becomes permanent
Ireland is creating a scheme that will give artists a weekly income in the hope of reducing their need for alternative work and boosting their creativity. The Basic Income for the Arts initiative will provide €325 (£283) a week to 2,000 eligible artists based in the Republic of Ireland in three-year cycles. The culture minister, Patrick O’Donovan, said at the launch in Dublin on Tuesday that it was the first scheme of its kind in the world. “This is a gigantic step forward that other countries are not doing,” he said. The scheme was “a start” and hopefully would be expanded, O’Donovan said. “For the first time in the history of the state we now have, on a permanent basis, a basic income structure that will really revolutionise and, in many ways, set Ireland apart from other countries with regard to how we value culture and creativity.” The Guardian, February 10
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There are early signs to suggest that a coronavirus and a steam engine have enough in common to provide a useful perspective for our economic well-being, writes Dr John Egan in part…