Thursday Morning Papers Summary
LA REPUBBLICA
-"By making clean technology the most affordable, accessible and attractive choice, we can reduce emissions around the world," thuds said UK Prime Minister Boris Johnson said at the Glasgow COP26 climate conference. The event has yielded a clear strategy to support electric cars in every way. Electric cars are already cheaper to run than those that burn fossil fuels and they are close to reaching a tipping point when they will become cheaper to buy.
FRANKFURTER ALLGEMEINE ZEITUNG
-As the OPEC 23 member states get ready on Thursday, they will decide whether to open the tap as many western countries have asked (the US included). Oil is said to be expensive in order to reduce consumption and protect the climate. However, a high oil price not only exhausts consumers - it also stimulates new investments in higher oil production. “How do you get out of there?”
-French President Emmanuel Macron knows that Angela Merkel values ??good wine. So he invited her farewell to the idyllic small town of Beaune in Burgundy. There the outgoing Chancellor was given an honor that even Kohl was denied.
IL SOLE 24 ORE
-The Milan stock exchange FTSE MIB index has improved on the optimistic achievements of the pre-Lehman Bros collapse days. It is now at 27,300 points. A threshold that represents a 23% gain since the beginning of the year (best performance, together with Paris, among the main European indices) but symbolically it is even more relevant: it is the same level that the Italian blue chips exhibited at the beginning of September 2008, before that the crack of Lehman Brothers inflicted a blow to global stock exchanges by sinking Piazza Affari to 12,332 points (March 2009).
-US corporations, both strategic and financial, have put Italy back on their radar, targeting opportunities in infrastructure, industry and technology. The post-Covid recovery has highlighted a trend in mergers and acquisitions that has characterized the last ten years. According to KPMG, so far in 2021, the value of American acquisitions in Italy has been EUR 4.5B, while those of Italian groups in the US for EUR 1.8B.
LES ECHOS
-An important member of Societe Generale's management who is about to leave the bank. According to Les Echos insiders, the group is to announce Thursday morning, on the occasion of the publication of the third quarter results, the next departure of William Kadouch-Chassaing , the current CFO.
- Sales of all-electric cars and plug-in hybrids accounted for 18.7% of the European market in the first nine months of 2021. The Volkswagen group and its twelve brands have crushed the competition, but the Tesla Model 3 has been the single most sold all-electric vehicle in the period.
HANDELSBLATT
-The last nuclear power plant is not yet off the grid and the coal phase-out date is not yet final, while many are already calling for the end of the next energy source: If more and more activists, experts and politicians have their way, natural gas should be a thing of the past by 2035.“The goal must be a climate-neutral future, and that means the end of fossil fuels. Not just coal, but also natural gas,”says climate economist and Scientists for Future member Franziska Hoffart in an interview with Handelsblatt.
ABC
Spain has the dubious distinction of having such high employment taxes that is only ‘beaten’ by four countries. Government proposals to raise them by an additional half-point, as stated by the Minister of Social Security Jose Luis Escriva, are sounding alarm bells in Spanish companies, which have long clamored for a reduction that never comes.