Bloomberg The Trump administration will propose scrapping an Obama-era mandate that new coal-fired power plants use carbon-capture technology, removing a major barrier to constructing the facilities, according to a person familiar with the plans. The Environmental Protection Agency (EPA) is slated to unveil the measure on Thursday, during an event at its headquarters in Washington, said the person, who was ...

Bloomberg The euro area is showing no signs of a meaningful economic rebound, with Italy on the verge of recession after the populist government picked a fight with European authorities over spending plans. IHS Markit’s Purchasing Manager’s Index for manufacturing and services in the 19-nation bloc fell to 52.7 in November from 53.1 in October. While the reading exceeded an ...

Bloomberg Growth in the UK’s dominant services industry unexpectedly slowed to the weakest since the aftermath of the Brexit vote and came perilously close to contraction. IHS Markit’s Purchasing Managers Index for the industry fell to 50.4 last month, well below economists’ forecasts for a reading of 52.5 and just above the key 50 level that indicates expansion. The surveys ...

Bloomberg Qualcomm Inc unveiled new chips that it said will run many of the first phones capable of connecting to new 5G services next year. The Snapdragon 855 includes a processor and modem to connect to wireless networks. It’s the latest version of Qualcomm’s flagship product that’s been the heart of most smartphones sold in the past decade. “In the ...

Bloomberg Ukraine’s leader renewed appeals to his nation’s allies in Europe and the US to punish Russia for a naval clash that’s reignited tensions between the two ex-Soviet neighbours. With initial talk of tighter sanctions now fading and Russia so far paying little cost for firing on Ukrainian ships in the Kerch Strait last month, President Petro Poroshenko reiterated calls ...

Bloomberg Donald Trump has put his finger on the challenge facing Emmanuel Macron. As small town protesters in yellow vests wreak havoc in Paris, Macron is trying to work out how to take the heat out of the situation without compromising his long-term plans for the economy and the environment. Trump suggested a different approach: ditch your green strategy and ...

Bloomberg As Angela Merkel battled Europe’s multiple crises in 2014, Friedrich Merz was meeting with conservative critics to gripe about her leadership. Merz’s own political aspirations had long since been sidelined by the chancellor and his allies could tell it still rankled. On one occasion, his wife Charlotte vented their frustrations. “Friedrich, you would have done a much better job,” ...

Bloomberg The Czech Republic’s billionaire prime minister fortified his support among potential voters, defying escalating tensions over a police investigation into whether he committed fraud. The ANO party led by Andrej Babis widened its lead in a survey conducted by pollster STEM last month when new allegations related to the fraud probe led to a failed no-confidence motion in parliament. ...

Bloomberg UK Prime Minister Theresa May is locked in a power struggle with the British Parliament that looks set to determine the final shape of Brexit. May lost three key votes on a day of drama in the House of Commons, highlighting the weakness of her position as she tries to ratify the deal she’s struck with the European Union. ...

In a series of tweets, President Donald Trump announced that he was a ‘Tariff Man,’ trumpeting the revenue raised by tariffs and declaring that import taxes would maximise the US’s economic power: As Paul Krugman pointed out, it’s a fallacy to think that foreigners are the only ones paying the tariff bill. US consumers pay as well. Believing that tariffs ...