Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning.

Good morning. Today is Thursday, January 23rd. I'm Julie Morgan. The EU is looking into subsidizing EVs to aid local carmakers.

Santee Cooper is seeking partners to restart nuclear reactors

and to broadcast television companies are planning job cuts to reduce costs.

The EU is weighing a Europe-wide subsidy program for electric vehicles to support domestic car makers.

Europe's car industry has been lagging rivals and is facing weak EV demand.

The executive vice president of the European Commission told the Financial Times in Davos

that European carmakers need a comprehensive view on how to update their capacities and to catch

up to what is already being demanded worldwide.

She added that EU officials were still shaping options for a subsidy program.

The official ruled out pushing back the 2035 deadline for ending new sales of internal combustion

engines. But she said she was open to flexibility on annual EV sales targets,

adding that talks are ongoing with carmakers about alternative commitments in terms of investment.

ING expects European carmakers to remain under pressure this year unless there are supportive measures.

Meanwhile, there could be a rebound

in the European EV market if ambitious EU CO2 targets for 2025 remain in place. In the U.S. President

Trump vowed to end unfair subsidies for EVs. He signed an executive order to eliminate the Biden

administration's electric vehicle mandate

and the goal of ensuring half of all new vehicles sold to be electric by 2030. It is important to note

that there was no mandate to force consumers to buy EVs and the 2030 target was not legally binding.

ING expects EV sales to stall in the U.S. in the short run as carmakers scale back

EV plans, although Tesla will likely benefit from reduced competition.

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