European Navies Leave the U.S. High and Dry
There are 178 U.S.-flagged cargo ships—or less than 1% of worldwide shipping—and few pass through the Red Sea. Several thousands more fly European Union flags, and many of them sail near Yemen. France, Britain, Italy and Spain all have aircraft carriers. France has a base in Djibouti, 400 miles from the Houthis. Why does it fall to the U.S. Navy to deal with these threats on our own? U.S. sailors are being stretched to the limit—witness the recent loss of two USS Truman fighters. Our European 'allies' need to step up. Play fair and do your share.
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Yahoo
38 minutes ago
- Yahoo
Switzerland seeks trade deal with Trump without getting into EU bind
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Newsweek
an hour ago
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Putin Faces Coal Crisis in Russia
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. One of Russia's top mining companies has become the first coal producer to get government aid in a deepening crisis for an industry hit hard by plummeting global demand and sanctions due to Vladimir Putin's war on Ukraine. Mechel announced the government reprieve, although has warned the industry faces significant difficulties as producers brace for a slump in sales. Russia is the world's sixth biggest producer of coal, but the industry in the country faces what has been described as the worst crisis since the 1990s. Issac Levi from the Centre of Research on Energy and Clean Air (CREA) told Newsweek that state support is one of the only ways for Russian coal firms to avoid bankruptcy. Newsweek has contacted Mechel for comment. Russian President Vladimir Putin at the Kremlin, on June 30, 2025, in Moscow, Russia. Russian President Vladimir Putin at the Kremlin, on June 30, 2025, in Moscow, Russia. Getty Images Why It Matters While a smaller contributor to GDP than oil and gas, Russia's coal industry is still a critical sector for dozens of single-industry towns where it employs hundreds of thousands of workers. European sanctions for Putin's aggression included a ban on Russian coal imports in 2022, and other markets like China and India have not made up the shortfall. Dwindling coal exports could be a political headache for Putin, especially amid other bad news for the wartime economy, such as a downturn in manufacturing and warnings by Russian officials about inflation and high interest rates. What To Know Mechel's deputy finance director, Nelli Galeeva, said it had received a three-year deferral on tax and social security payments worth 13 billion rubles ($166 million). The government support will also include saving an extra 500 million rubles ($6 million) per month through industry-wide assistance measures like deferred mineral extraction tax and social insurance payments, according to the agency Interfax, as cited by The Moscow Times. Mechel chief executive Oleg Korzhov said the coal industry was in a "very difficult situation" and despite the government's help, his firm would cut shipments in 2025 by about a quarter compared with last year. A view of the coal terminal of the far-eastern Russian port of Vladivostok on September 5, 2022. A view of the coal terminal of the far-eastern Russian port of Vladivostok on September 5, 2022. KIRILL KUDRYAVTSEV//Getty Images Levi, CREA's Europe-Russia policy and energy analysis team lead, told Newsweek Russia's coal industry problems partially stem from a sharp drop in global demand—especially from China, where steel production and coal prices had plunged. 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Yahoo
an hour ago
- Yahoo
Europe's Billionaires Are Bending to Trump--Here's Why Investors Should Pay Attention
With Donald Trump's July 9 tariff deadline approaching, pressure is mountingnot just in Brussels, but in boardrooms across Europe. Automakers like Mercedes-Benz (MBGAF), BMW (BMWKY), and Volkswagen (VWAGY) have been quietly flying executives to Washington, lobbying U.S. officials directly and proposing their own peace terms to head off a potential 50% tariff on European exports. Luxury powerhouses like LVMH (LVMUY) and pharmaceutical giants like Sanofi have joined in, signaling a clear shift: many of Europe's biggest companies are no longer aligned with the EU's hardline approach. Behind the scenes, they're urging Brussels to cut a quick deal and scale back retaliatory measures, including removing high-profile U.S. products like bourbon from any counter-tariff list. Warning! GuruFocus has detected 4 Warning Sign with MBGAF. What's driving this sudden corporate detente? Profitsand survival. European companies generate wide margins in the U.S. and rely heavily on American technology, suppliers, and research partnerships. A retaliatory tariff packageinitially floated at 95 billionhas already been softened by member state requests that could slash it by nearly 70 billion. Lobby groups representing sectors from medical devices to spirits warn that hitting back at the U.S. would hurt European firms just as much, if not more. If the EU retaliates, the sector is hit twice, said MedTech Europe CEO Oliver Bisazza. That fear has flipped the script, with industries now pressing Brussels to de-escalate, even if it means swallowing a flat 10% tariff and lobbying for carve-outs in key sectors like pharma, semiconductors, and aerospace. But this fractured front comes at a delicate time for the EU. With domestic demand weakening, China gaining ground, and energy costs still elevated post-Ukraine, the U.S. market is more important than ever. Brussels wants to preserve unity, but member states are growing impatient. German Chancellor Friedrich Merz has openly criticized the Commission's slow, complex process and called for speed over perfection. LVMH Chairman Bernard Arnault has gone furtheractivating long-standing ties with Trump and making personal trips to Washington to promote a calmer path. His message? In this geopolitical chess match, compromise could be the smartest move Europe has left. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
