World Enterprise Each day: US corporations surrender on Trump, EU auto gross sales fall

"It is very easy to suspend campaign contributions two months after an election. The question is whether these guidelines will stay in place," said Nathaniel Persily, law professor at Stanford University.

A growing group of U.S. corporations are believed to be re-investigating their ties to the Republican Party after the FBI warned of further threats of civil disobedience by groups seeking to block the inauguration of President-elect Joe Biden next week. Some of the biggest names in American corporations, including Amazon, AT&T, Comcast and Verizon, are believed to have severed ties with Senators who openly supported the "Stop the Steal" movement, which has been accused of attacking the Capitol Hill coordinated.

Elsewhere, Silicon Valley continues to prevent marginalized and far-right groups from using their platforms amid the ongoing unrest. The payment portals Paypal and Stripe as well as the crowdfunder GoFundMe state that several groups, including the pro-Trump "Joy in Liberty", are not allowed to use their services to increase travel costs. Home sharing Airbnb has also deleted the accounts of people associated with so-called hate groups, including the white supremacist "Proud Boys".

In Europe there were more signs of gloom in the automotive sector. The German giants BMW and Volkswagen reported a drop in sales of up to a fifth in some key markets last year because the showrooms were closed and the streets were empty.

Given the huge investment streams currently flowing into electric car development, Chinese automaker Xpeng has announced a new $ 2 billion line of credit from donors to fund the rollout of its electronics division across China, particularly the popular G3 and models P7.

Below, CGTN Europe talks to Fatih Birol, the head of the International Energy Agency, about why the days of energy celebrity are numbered for oil producers like Saudi Arabia.

Scroll down to see which EU country pays the most environmental taxes. Is it powerful to create Germany? Super charged Sweden? Or a Brexit-ready UK? You may be surprised.

Read on to read in full all of the day's business news.

Louise Greenwood,

Digital correspondent

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Corporate backers have begun withdrawing support from the outgoing Republican government in the United States., after the disruption last week in Washington DC by the so-called "Stop the Steal" coalition. Amazon, Walmart, Marriott, General Electric, AT&T, Comcast, Verizon, American Express, and Airbnb are among the big names re-evaluating their support for Senators who wanted to question President-elect Joe Biden's victory. It has been claimed that Greeting card giant Hallmark has asked representatives Josh Hawley (MI) and Roger Marshall (KS) to return previously donated contributions.

Germany is now Deutsche Bank is reported to have cut ties with President Trump after the right-wing group attack last week on Capitol Hill in support of its election fraud claims. The New York Times and Bloomberg cite bank sources and claim so The German, who lent Trump Corporation $ 340 million in real estate-related loans, has ruled out future deals with the president as soon as he leaves office. While the bank has refused to comment publicly, its head of US operations, Christiana Riley, condemned the violence in DC in a post on her LinkedIn profile, stating, "We are proud of our constitution and stand by those trying to keep it going. " to ensure … a peaceful transfer of power. "

Silicon Valley is also committed to further controlling the mobilization of extreme and conspiratorial groups on its platformshow the FBI warns of the risk of major civil disobedience when President-elect Biden is inaugurated next Wednesday. Payment portals Paypal and Stripe and the fundraising site GoFundMe are blocking fringe groups like "Joy in Liberty" and Christian Crowdfunder "GiveSendGo". from using their services to increase support. The ecommerce platform Shopify also says it is removing all Trump-related goods from its online stores.

The The euro area economy could shrink again in a double-dip recession. According to the latest research from analysts at JPMorgan Chase and UBS. Investment banks downgrade growth projections as Brexit-related vaccination-rollout delays and trade disruptions set the stage for a second straight quarter of a decline in GDP across the zone, adding to pressure on the European Central Bank, more financial Provide support.

Bitcoin appears to have recovered slightly After a drop in value over the weekend, investors in the markets were very confused. The digital currency briefly topped $ 42,000 on Saturday before falling 26 percent in two days. In the Asian markets, it rose 8 percent to around $ 36,600 by noon. On Monday, the UK regulator, the Financial Conduct Authority, warned that crypto and blockchain investors must be prepared to "lose all their money" when many offers are advertised online and offer high returns.

The The British space agency and Rolls-Royce have signed a research agreement develop nuclear powered missiles, The time it takes to get from Earth to Mars may be cut in half. The project could have far-reaching implications for crewed missions into space, traditionally hampered by serious health effects when humans remain in orbit for too long. In a statement, the UK Department for Economic Affairs, Energy and Industrial Strategy said The project aimed to "propel our next generation of astronauts into space faster and longer". vastly expand our knowledge of the universe. "

According to German auto giant BMW, sales fell 8.4 percent overall in 2020 as the COVID-19 outbreak took its toll in the car market. However, customer demand rose by 3.2 percent in the fourth quarter, with demand for the "BMW M" model being strong. The Munich-based luxury automaker, which includes Mini and Rolls-Royce, says Sales in Europe decreased by 15.7 percent and in the US by 18 percent.

rival Volkswagen reports that sales of its core brand fell by 15 percent to 5.3 million vehicles last year. with a modest recovery in December. The Wolfsburg Group says The demand for electric models rose 158 percent year-on-year. to more than 200,000 vehicles. For the full year, the Volkswagen brand's unit sales in Western Europe fell by more than 23 percent and in North America by 17 percent, while the smallest decrease was recorded in China at just under 10 percent.

The Chinese automaker Xpeng has signed an agreement with banks for a credit line of USD 2 billion to fund the launch of its electric car capabilities. The group, with supporters like Alibaba, is still lagging behind market leader Tesla, but has sold more than 27,000 cars in the past year and is expanding its free charging service at stations in 100 Chinese cities. The company's shares rose more than 40 percent on their New York debut last summer, valued Xpeng at more than $ 10 billion.

Global e-commerce retailer According to the Hut Group, sales rose 51 percent in the quarter to December, exceeding expectations. The Manchester, UK-based luxury goods company says sales of cosmetics and skin care were particularly strong. Annual sales rose 66 percent to $ 404 million. The company now expects sales growth of more than a third for the current financial year. Sales of beauty and self-improvement products are believed to be booming during the lockdown, in part due to the so-called "zoom" effect of online business conference calls.

Another industry that is thriving in the UK is Home delivery of groceries. Market leader Deliveroo says it will expand to 100 more cities to reach two-thirds of the population across the country this year. The company hired another 25,000 drivers last year and increased its total workforce to over 50,000.

Elsewhere in the Last year, UK retail sales fell the most in 25 years for new dates. The British Retail Consortium (BRC) said Total sales decreased by 0.3 percent compared to 2019While Christmas sales were 1.8 percent higher year-over-year, the short-term spike in online shopping and reopening of non-essential stores after the November lockdowns weren't enough to offset the impact of the renewal of shopping restrictions that came down Came into force in mid-December.

Meanwhile, UK supermarkets are reviewing their sourcing policies after delays due to Brexit cut off supplies to their stores in Northern Ireland. Marks & Spencer, Sainsbury & # 39; s and Tesco have reported problems with bureaucracy and customs papers since the end of the Brexit transition period on December 31, 2020. This has resulted in empty shelves for perishable goods like fresh fruits, vegetables and refrigerated meat. According to Sainsbury & # 39; s, the deficit should be made up by looking for alternatives from the region. The Northern Ireland Retail Consortium says "all retailers" will have problems under the new regime.

Developments in Northern Ireland come as Scottish fish companies warn of possible business closures, After "confusion over paperwork", companies were unable to book services from shipping companies. DFDS is a group that stopped providing service to France for smaller exporters using their ferries for deliveries at the earliest.


CLOCK: While museums spent time developing their digital presence amid museum and art gallery closings. The world famous Louvre in Paris took the rare opportunity to do important renovations for weeks.


Fatih Birol, head of the International Energy Agency, says long-term climate goals will not be enough to hit net zero by 2015 and that global tracking and accountability will be needed to address the issues. He explained to CGTN Europe why investors should make their portfolios climate-friendly.

There are two reasons why investors are pouring money into clean energy technologies. One of them is, I would say, a moral obligation that investors are part of this planet, part of this world. I would hope to see investors put their money into something that is good for them, their families, their fellow citizens, and the world. That being said, I believe the energy is headed in a direction that is definitely heading towards clean energy technologies and the signals coming from major economies around the world, from China, from Europe, from Japan and soon the United States. will make everyone realize that investing in clean energy is profitable.

Where should governments start?

We have to invest our money in clean energy infrastructure, in solar, wind, electric cars and, in some countries, in nuclear power. It is good for the country's economy and it is important that countries put themselves in a favorable position with a view to the next industrial revolution.

What do you think Saudis oil production says about future demand?

No energy producing country will remain unaffected by the switch to clean energy. If not today, then tomorrow, because clean energy technologies will replace traditional fuels, maybe not immediately, but in the next few years. And these governments, those countries whose economies are tied to the oil, gas and coal industries, need to reform and expand their energy and economic systems as soon as possible in order not to be vulnerable to the switch to clean energy.

And finally, Given the greening of the world's largest economies, the latest figures show that the EU's environmental tax rose to 5.9 percent in 2019. The most polluting Eastern countries, however, pay far more "green taxes" than the largest and richest economies in Europe. Analysts warn that more tax incentives in areas like recycling and energy conservation are vital for the bloc to achieve its climate neutral goal by 2050.

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