Trans-Atlantic trade dispute resolved
The European Union and the United States on Tuesday agreed an understanding relating to large civil aircraft, effectively bringing to an end the longest trade dispute in the history of the WTO. As European Commission president Ursula von der Leyen and US president Joe Biden met in Brussels, EC executive vice-president Valdis Dombrovskis and US trade representative Katherine Tai were also hammering out the final details of the agreement that will seek to avoid future litigation and preserve a level playing field between aircraft manufacturers, notably Boeing and Airbus. The dispute had led to countermeasures affecting tariffs on product categories including wines and spirits, dairy and cheese and machinery, to a value of $11.5bn. “This shows the new spirit of cooperation between the EU and the US and that we can solve the other issues to our mutual benefit,” said von der Leyen. The FT, the BBC and CNN have reports and analysis.
PwC plans to hire an extra 100,000 staff
PwC on Tuesday unveiled its The New Equation strategy which includes a $12bn investment in staffing, technology and ESG. Bob Moritz, chairman of the PwC international network, announced that the company would be hiring an additional 100,000 employees worldwide over the next five years, increasing its total staff by nearly a third to around 384,000. PwC was “going to massively invest to redefine itself and rebrand itself to make sure we're valuable for what our clients need and what the world needs,” Moritz said. The Wall Street Journal, City AM and Business Insider have more.
Biden and Putin set for Geneva meeting
US president Joe Biden is in Geneva on Wednesday for his first face-to-face meeting with Russian leader Vladimir Putin for what CNBC says will be “one of the most closely watched pieces of geopolitical theater this year”. Few observers expect any concrete outcomes from the summit, which will see the leaders address cybersecurity, human rights (and in particular the imprisonment of Alexander Navalny) as well as nuclear stability, climate change and the Nord Stream 2 gas pipeline. Reuters, CNN and NPR also have previews and analysis.
Frank Engel case will have public hearing
The public prosecutor’s office plans a public hearing before the end of this year to help determine whether a case against former CSV president Frank Engel, over a work contract he had with a not-for-profit affiliated with the party, proceeds to criminal court. Delano has details.
Luxembourg invests in Nato space project
The grand duchy has signed an agreement with Nato for a €6.7m investment in its Situation Centre, developing space situational awareness capabilities to monitor space debris. Delano has more.
French teleworking deal extended
Luxembourg and France have agreed to extend current exemptions for cross-border workers on double taxation and social security affiliation until the end of September. The agreement affects around 100,000 people who commute to work from France to Luxembourg. Delano reports.
Israel-Gaza violence flares again
The Israeli military has said it attacked armed compounds in Gaza and the town of Khan Younis in the early hours of Wednesday. The air strikes against Hamas were a response to the launching of incendiary balloons that caused several fires in open fields near the border, the military said. The violence came just days after Israel swore in its new coalition government. The Guardian, France24 and The Jerusalem Post report.
MacKenzie Scott gives away billions
Billionaire MacKenzie Scott has said she has given away another chunk of her estimated $59.5bn fortune. On Tuesday she announced 286 organisations working on racial inequality, the arts and education will receive a share of some $2.7bn. In 2019 Scott, who helped her former husband Jeff Bezos found Amazon, signed a commitment by the world’s richest individuals and families to donate most of their fortunes to enriching society. The BBC, Fortune and CBS have more.
Ronaldo breaks records, causes Coca-Cola slump
No doubt the cheers were heard all over the grand duchy when Cristiano Ronaldo scored two goals, one a penalty, in quick succession towards the end of Portugal’s Euro2020 match with Hungary on Tuesday evening. The second strike gave Ronaldo the Euros finals scoring record with 11 goals across five tournaments (also a record). Earlier at a press conference Ronaldo made a deal of removing two bottles of Coca-Cola from the table in front of him, reportedly causing $4 billion to be knocked off the company's market value. The Guardian and the BBC have tributes to his feats, while The Athletic and Give Me Sport talk about the Coke stunt.
Night vision with normal specs
How cool is this? a team of Australian and European researchers have developed an ultra-thin film made of a gallium arsenide, a semiconductor, that could one day allow spectacles to become night vision googles. The film is said to be hundreds of times thinner than a strand of human hair. The Guardian reports.
Today’s breakfast briefing was written by Duncan Roberts