On Monday Maroš Šefčovič (pictured speaking at a press conference in Brussels, 14 September 2018) said he’s running for the European Commission’s top job. Photo credit: European Commission
VW electric car plans, H&M sales up and Coke may create cannabis drink. Delano’s breakfast briefing for Tuesday.
Sefcovic puts hat in European Commission ring
Slovakia’s Maros Sefcovic, currently the European energy commissioner, has entered the race to replace Jean-Claude Juncker as European Commission president next spring. Sefcovic is part of the Social Democrat bloc. Manfred Weber, a German MEP with the centre-right EPP bloc, announced his candidacy earlier this month. Reported by EUobserver, Politico and Reuters.
Syria: Russia and Turkey to create buffer zone
Russia and Turkey agreed to create a demilitarised buffer zone in Syria’s Idlib region, the last major holdout for rebel forces. Details of the deal were not released, but the plan aims to avert a humanitarian disaster affecting the 3m people living in the province. Reported by the Guardian, New York Times and Washington Post.
Brexit: push for Chequers deal; IMF no-deal warning
The UK prime minister Theresa May told the BBC that British MPs would only have a choice between her Chequers deal or a hard Brexit. The Times said that the EU is softening its position on May’s “frictionless” Irish border concept. Meanwhile, the head of the IMF, Christine Lagarde, warned of the “dire consequences” to the British economy in case of no-deal Brexit, as reported by the Guardian, Politico and Reuters.
Washington slaps new Chinese tariffs
The US will impose new import tariffs on $200bn worth of Chinese goods as the two countries’ trade dispute heats up. The 10% rate starts on 24 September and will rise to 25% in 2019 if no agreement is struck. Reported by the BBC, Financial Times and Guardian.
VW plans to build 10m e-cars
Volkswagen Group plans to sell 10m reasonably priced electric cars by 2022 based on its “MEB” platform. The company will produce 27 models across its Audi, Skoda and VW brands. Reported by Autoblog, Fortune and Reuters.
H&M sales turnaround
Sales at the Swedish fast fashion chain H&M rose 9% during its third quarter, after two years of declines. Its shares rose by double digits. Reported by Bloomberg, the Financial Times and RTE.
Coke considers cannabis drink
Coca-Cola is talking with a firm called Aurora Cannabis about creating a cannabidiol-infused wellness drink, according to BNN Bloomberg. The market for cannabis-infused drinks are growing at a steady clip. Also reported by CNN and TechCrunch.