Fact: The innovation certificate offers a 50 per cent tax exemption for investments in innovative businesses, with a total of 38 certificates granted to qualifying applicants last year.
Global petrol demand growth is expected to halve in 2024 due to a shift to electric cars in China and the United States, as well as a return to normal consumption levels after the COVID-19 pandemic.
The text discusses the concept of tall poppy syndrome, which refers to tearing down successful individuals or ventures. It also mentions Canada’s widening productivity gap, with Canadian workers producing 71% of the GDP per hour produced by U.S. peers in 2022. Additionally, the government of Prime Minister Justin Trudeau recently announced an increase in capital gains taxes.
Fact: France aims to ramp up electric car sales fourfold by 2027 under a strategy agreement with the government.
The disruption to container shipping traffic in the Red Sea is expected to reduce the industry’s capacity between the Far East and Europe by 15-20% in the second quarter.
French right-wing lawmaker Jean-Paul Garraud expects nationalist and eurosceptic parties to gain influence in the upcoming EU assembly election. Polls predict radical right parties will increase their seats across the EU, including France, Germany, and Italy. Garraud anticipates far-right parties could have positions in committees or even hold key roles in the European Parliament, allowing them to influence policies related to green initiatives, free trade, and immigration. The rise of radical right parties is fueled by a growing gap between mainstream parties and distrustful voters, as well as concerns over issues such as the cost of living, illegal migration, and changing geopolitical dynamics. Critics warn that the influence of the hard right could weaken Europe and potentially lead to closer ties with China and Russia.
The West Texas Intermediate (WTI) crude oil price rose to around .20 a barrel in the Asian session on Monday after Saudi Arabia raised June crude prices for most regions.
Adidas reported strong first-quarter growth driven by high demand for its retro-style Gazelle and Samba sneakers, especially in Europe.
Fact: The Re:Source 2.0 exhibition in Limassol, Cyprus, aims to highlight environmental issues and promote eco-friendly habits through art.
Oil prices are trading down due to disappointing economic data and a rise in US crude oil inventories.