France Proposes Axing Two Public Holidays to Tackle Budget Hole
He made the proposals, which add up to a €43.8 billion ($50.9 billion) effort next year, as he unveiled an array of measures to pare back the largest deficit in the euro area. Other moves include a new tax on the highest earners and a freeze in pension and welfare payments at 2025 levels.
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Yahoo
17 minutes ago
- Yahoo
Morning Bid: Markets stoic over Powell's shifting fate
A look at the day ahead in European and global markets from Rae Wee The markets were in a calm but sombre mood on Thursday after a dramatic session on Wall Street driven by renewed uncertainty over the tenure of Federal Reserve Chair Jerome Powell. U.S. President Donald Trump soothed investors' nerves a bit by stating he was not planning to fire Powell, but he confirmed he floated the idea with Republican lawmakers and kept his options open, saying he would love for the Fed Chair to resign. Stocks in Asia were largely muted on Thursday while Wall Street futures fell, although European stock futures edged higher after slipping during the cash session on Wednesday. The long-running Trump-Powell saga continues to undermine the dollar, which on Thursday was on fragile footing given lingering worries over the Fed's independence. With calm mostly restored to the markets, investors have enough earnings reports and data releases on their plate to keep them distracted for now, barring any stepped-up attacks on Powell. Top of mind are results from TSMC, the world's main producer of advanced AI chips, and streaming giant Netflix, both expected later in the day. TSMC, a key supplier to Nvidia and Apple, is expected to post a 52% jump in second-quarter profit to record levels, although U.S. tariffs and a strong Taiwan dollar could weigh on its outlook. As for Netflix, the bar is high for it to deliver a result that could impress investors. They are likely to focus on the company's expansion into live sports and the growth of its ad-supported tier. Over in the UK, Thursday's jobs numbers could provide further clarity on the outlook for domestic interest rates. Pay growth in Britain is expected to have slowed further in the three months to May with the unemployment rate likely to have stayed steady at 4.6%. Still, Bank of England policymakers could turn more cautious on further rate cuts this year, after data on Wednesday showed Britain's annual rate of consumer price inflation unexpectedly rose to its highest in more than a year, at 3.6% in June. The Australian dollar fell sharply in the Asian session after domestic employment rose only marginally in June, while the jobless rate jumped to its highest since late 2021. Japan's exports fell for a second straight month as sweeping U.S. tariffs took a toll on the country's manufacturers, and Canadian retailer Alimentation Couche-Tard pulled its $47 billion bid to buy Seven & i Holdings, citing a lack of constructive engagement by the Japanese retailer. Key developments that could influence markets on Thursday: - TSMC, Netflix earnings - British labour market data (May) - U.S. weekly jobless claims - Fed's Waller speaks Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here. (By Rae Wee; Editing by Edmund Klamann) Sign in to access your portfolio
Associated Press
19 minutes ago
- Associated Press
Action Against Hunger and French Water Partnership Amplify Global Call for Survival and Resilient Water, Sanitation, and Hygiene (WASH) at UN 2026 Water Conference Preparatory Session
NEW YORK, July 16, 2025 /3BL/ - At the United Nations 2026 Water Conference Preparatory Meeting, Action Against Hunger joined forces with the French Water Partnership to represent the WASH Road Map and the Global WASH Cluster in launching the 2025 Call to Action for Survival and Resilient WASH, a bold and urgent appeal to prioritize humanitarian water, sanitation, and hygiene (WASH) services in fragile and conflict-affected contexts. The call to action is endorsed by over 230 humanitarian and development actors and four national governments. Across the globe, nearly 175 million people require humanitarian assistance for WASH. In 2024, the needs were met for only 48 million people—just a quarter of those who need this lifesaving aid—due to chronic underfunding, political interference, and security risks undermining the safety of both the people in need and humanitarian personnel. In her address during a high-level Multi-Stakeholder Interactive Session, Marie-Laure Vercambre, General Director of the French Water Partnership, emphasized the gravity of the situation: 'In 2025, of the $3.2 billion needed, only $146 million has been secured [as of April 2025]—barely 4.5 percent. This situation jeopardizes the lives and dignity of millions of people in fragile and conflict-affected settings. Yet, water is not optional—it is a human right and a lifesaving asset.' The call to action urges Member States and all actors to: Nicolas Villeminot, Senior WASH Advisor at Action Against Hunger, highlighted the strong backing of the Slovenian and Swiss delegations, whose support underscores the growing international momentum behind humanitarian WASH. Both delegations are vocal supporters of a stronger inclusion of the specific needs of humanitarian WASH as part of the UN Water Conference. Nicolas Villeminot stated, 'Our coalition extends an invitation to the two co-chairs of the Conference, Senegal and the United Arab Emirates, to join us next month at the Stockholm World Water Week to sign the pledge of the Humanitarian WASH Roadmap, and to make sure that humanitarian needs strongly appear in the interactive dialogue on Water for People.' The Global WASH Cluster also issued a campaign encouraging stakeholders to endorse the Call to Action and amplify its reach. 'This is not just a policy commitment—it's a collective movement,' the Global WASH Cluster emphasized. As preparations for the 2026 UN Water Conference continue, Action Against Hunger remains committed to ensuring that humanitarian WASH is not only recognized but embedded in global water governance frameworks. Together with our partners, we are turning this crisis into an opportunity—to save lives and build a more resilient future. Building on the 2023 UN Water Conference—the first high-level conference in nearly half a century to focus on the water crisis—the 2026 UN Water Conference, co-hosted by Senegal and the UAE, will aim to accelerate the implementation of Sustainable Development Goal 6: Ensure availability and sustainable management of water and sanitation for all. During the Preparatory Meeting of July 9th, the Member States formally adopted by consensus the six Interactive Dialogue themes that will frame the 2026 UN Water Conference: The need for action over commitments was emphasized by many Member States and civil society representatives throughout the day to accelerate SDG 6, which is one of the most off-track SDGs. As highlighted in an address from the UN Secretary-General's Special Envoy on Water, Her Excellency Retno L. P. Marsudi, the conference must be 'the time to transform the moment for SDG 6 into movement. Moment to movement.' She added that 'Globally, water-related disasters have contributed to 95% of infrastructure loss and damages, and in 2024 alone, it costed as much as $550 billion in economic loss.' Action Against Hunger echoes the European Union's statement advocating for the establishment of thematic civil society working groups aligned with the six interactive dialogue topics, to enable meaningful and substantive stakeholder contributions as part of a truly inclusive and consultative process.
Associated Press
20 minutes ago
- Associated Press
Global New Material International: Driving a Green Future Through Innovation
STUTTGART, Germany--(BUSINESS WIRE)--Jul 16, 2025-- As global economic integration accelerates, materials science—the foundation of modern industry—is undergoing a profound transformation. Global New Material International Holdings Limited (GNMI) stands at the forefront of this evolution. This press release features multimedia. View the full release here: Colored Building-Integrated Photovoltaic modules developed by CQV, a subsidiary of GNMI. At the recent 2 nd Sino-European Corporate ESG Best Practice Conference, GNMI was honored with the 'Best Practice in Technological Innovation' award for its outstanding commitment to innovation and green development. The judging panel praised the company's achievements, noting that 'GNMI's innovations have gained broad international recognition. With a clear strategy focused on green manufacturing and sustainability, the company offers viable solutions to reduce dependence on non-renewable resources while advancing eco-friendly production.' Technological innovation is central to the company's success. Its core products—pearlescent materials and functional mica fillers—are widely used in cosmetics, plastics, rubber, coatings, and new energy batteries. In response to the limited supply of natural mica, the company has spent years on research and development, overcoming significant technical barriers to create synthetic mica with proprietary intellectual property. GNMI continues to expand the application of these materials, including integrating pearlescent materials into colored BIPV (Building-Integrated Photovoltaic) modules. This innovation advances the intersection of green energy, smart manufacturing, and architectural aesthetics. The company also places emphasis on industry-academia collaboration. It has partnered with Zhejiang University to co-found the 'Zhejiang University–Chesir Pearl Joint R&D Center' to tackle critical challenges in battery performance and safety. Their joint research focuses on insulation and separator materials—key components for the new energy vehicle sector. These collaborations not only enhance the company's innovation capacity but also accelerate the commercialization of academic research, creating a mutually beneficial ecosystem. Aligned with global sustainability goals, GNMI remains committed to green manufacturing by implementing energy-saving, waste-reducing, and low-carbon practices across the production chain. Its subsidiary, Guangxi Chesir Pearl Material Co., Ltd., has been designated a 'National Green Factory' by China's Ministry of Industry and Information Technology. Furthermore, this factory recently successfully connected a rooftop distributed photovoltaic project to the power grid, reaching a major milestone in its green manufacturing transformation. The project has an installed capacity of 5.9 megawatts peak (MWp) and adopts BIPV technology. Looking ahead, Global New Material International will continue to lead with innovation and sustainability—empowering a colorful, greener world through science and technology. View source version on CONTACT: PR Contact: EncycloVision (Shenzhen) Brand Communication Co., Ltd. Eason Zhou Email:[email protected] KEYWORD: GERMANY CHINA EUROPE ASIA PACIFIC INDUSTRY KEYWORD: GREEN TECHNOLOGY MANUFACTURING VEHICLE TECHNOLOGY ENVIRONMENT AUTOMOTIVE RESEARCH EV/ELECTRIC VEHICLES SUSTAINABILITY ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) BUILDING SYSTEMS PROFESSIONAL SERVICES ARCHITECTURE SCIENCE OTHER ENERGY CONSTRUCTION & PROPERTY ALTERNATIVE VEHICLES/FUELS ALTERNATIVE ENERGY ENERGY CHEMICALS/PLASTICS SOURCE: Sino-European Corporate ESG Best Practice Conference Copyright Business Wire 2025. PUB: 07/16/2025 10:41 PM/DISC: 07/16/2025 10:41 PM
