The U.S. and EU Tussle Over Clean-Energy Subsidies

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 26 January 2023

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

A.M. Edition for Jan. 26. The EU’s competition chief called U.S. clean-energy incentives “toxic” this week, as the bloc considers its own policy response. WSJ senior reporter Phred Dvorak explains why the EU and other U.S. trading partners remain critical of provisions within last year’s Inflation Reduction Act and what measures they’re exploring. Plus, how to change your relationship with your phone’s notifications. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Busy making budget plans for the business year ahead, we've got you covered.
0:05.4	Switch to three business and choose from the latest handsets with unlimited data in our winter sale.
0:10.6	Plus, our business price promise means if you find a cheaper deal from one of our biggest competitors, we guarantee you to beat it.
0:18.1	Search three business or visit us in store.
0:21.1	Business price promise means we'll beat it directly.
0:24.4	Quote you've been given my e-vote for 0.02 for business plans by at least £1 per month.
0:31.2	Time's apply, search three business price promise.
0:34.6	Fresh layoffs at SAP and IBM.
0:38.2	Plus the EU plots its response to US clean energy subsidies and Congress takes aim at foreign purchases of American farmland.
0:47.2	There are some concerns from lawmakers connected to our food supply and there's increasingly a view on capital
0:54.1	held that food security is national security.
0:56.8	It's Thursday, January 26th. I'm Luke Vargas with the Wall Street Journal and here's the AM edition of What's News.
1:04.5	The top headlines and business stories moving your world today.
1:14.6	Layoffs are continuing in the tech sector with business software company SAP announcing today that it will cut up to 3,000 jobs this year.
1:23.7	That follows a steep profit plunge in the final quarter of 2022.
1:29.0	SAP's finance chief said that the job cuts would be spread across the business's geographic footprint but would mostly occur outside of its home base in Germany.
1:39.1	And that news follows an announcement by IBM on Wednesday that it will cut about 3,900 jobs.
1:46.1	And IBM spokesman confirmed the layoffs will stem from Kindrel holdings, the IT services business it spun off last year, along with its healthcare divestiture.
1:56.5	We are exclusively reporting that Facebook parent Meta is paying BuzzFeed millions as part of an effort to bring more creators to the social media giants platforms.
2:07.5	Sources say the deal is valued close to $10 million and that BuzzFeed has agreed to help generate creator content for Meta's platforms and train creators to grow their presence online.
2:20.4	Journal Market's reporter Caitlin McCabe explains what's driving the tie up.
2:25.1	This deal emphasizes for both companies how large the creator economy has become. One really interesting stat is that the extremely popular platform TikTok grew its global user base by 18% in 2022.
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