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Report: Greek airspace blackout caused by old systems and not cyberattack
Investigators say that an eight-hour radio blackout at Greek airports last week, which forced authorities to clear airspace, was partially due to outdated communication systems. The issue revealed infrastructure gaps in this key tourist destination. A high-ranking government official resigned after the report of the investigative panel on Wednesday. On January 4, air traffic controllers lost touch with the majority of planes, which included dozens headed for Greek airports. Radio frequencies were also replaced by static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The key Telecom Infrastructure Based on Outdated Technology The report of the five-member investigation committee said that the cause of the outage is still unclear. Multiple systems went out of sync, leading to a scramble of communications between the airport towers and the planes. In response, a transport ministry official stated that Greece's system was in line with EU Standards. However, the ministry has implemented an upgrade plan which is expected to be complete in 2028. The unions have called for upgrades since years and say that the system is unsafe, particularly in light of the tourism boom, with millions of tourists flying to Greece each year. They said that the report vindicated their concerns on Wednesday. The AVIATION AUTHORITY'S GOVERNOR RETIRES In a statement released by the Greek transport ministry, George Saounatsos resigned as governor of Civil Aviation Authority on Wednesday. The current deputy governor George Vagenas will fill in until a replacement is appointed. The report stated that, while the incident was a "low-risk" one in terms of safety for flights, the Civil Aviation Authority’s voice communication system and the critical supporting telecom infrastructure are based on outdated technology. The report was submitted to the Transport Ministry and published late Tuesday. It stated that the infrastructure no longer has the support of manufacturers and is not operationally guaranteed. The report stated that the Greek telecom provider OTE has been warning the civil aviation authority since 2019 about the need for new circuits in its systems. It also recommended upgrading transceivers, among other changes. The report also recommended the creation of a crisis response mechanism between OTE and the Civil Aviation Authority. Reporting by Renee Maltezou, Editing by Sharon Singleton & Bernadette Baum
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Is the US Uranium Market about to go Nuclear in 2026? Maguire
The market for uranium, the primary fuel in nuclear power plants, is becoming tighter as reactor construction increases. This is setting up a price rally for uranium this year. Data from Canadian uranium mining company?Cameco showed that U.S. spot prices for the uranium sector ended 2025 around $82 per pound. This represents a rise of roughly $10, or 12%, from the end 2024. This is a significant increase compared with the well-over 100% increases in share prices in 2025 of prominent uranium miner and fuel suppliers, which were boosted by policies of the U.S. Government to revive nuclear energy production. While equities linked to the nuclear supply chains look like they will remain popular among investors, the industry is now focusing on the state of uranium which is experiencing a growing structural deficit due to the fact that consumption is exceeding production. The uranium shortage is being exacerbated by the surge in demand for electricity due to the AI-driven boom in data centres, as well as the construction of modular reactors. This is especially true in the U.S., where the mine supply has been at historic lows over the last decade. The U.S. mine uranium production is increasing again, but it is still only expected to be 1 million pounds in comparison to the 50 million pounds consumed annually by the U.S. The mismatch between supply and demand is causing the U.S. price of uranium to rise, a trend that may continue as 2026 progresses. While spot prices are still below $90 per pound, executives who track discussions between mine suppliers (mines) and power generators (power generators) have noted that "long-term contracts" are closer to $100. If deals are confirmed above or at the psychologically important $100 mark - which was last consistently exceeded in 2007 – that could help spark new momentum in spot markets and establish uranium among 2026's most exciting markets. STOCKS DRAWDOWN The U.S. uranium shortage was filled in recent years by imports from the secondary market. This includes stockpiles of utility material, decommissioned warheads, and left-over material at enrichment plants. The increased purchases of utilities and government agencies has now reduced those secondary supplies. In addition, restrictions on future uranium exports to a belligerent?Russia (which will be banned in 2028) have also narrowed sources for imports. The combination of lower stocks on the secondary market in the country and the restrictions on imports have led to a greater focus on the spot-market and any new but uncontracted outputs from uranium mining. Investors' increased uranium purchasing is further tightening supply imbalance and becoming a bullish market driver. The Sprott Physical Uranium Trust's (SPUT) Uranium Holdings - the largest fund in the world that stocks physical uranium- increased 9 million pounds, reaching a record of 72.5 million pounds by 2025. Investor holdings of fuel for the nuclear industry are expected to grow as the fleet expands and more reactors come online. This will give prices a boost. Record Nuclear Generation The world's output of nuclear electricity is likely to reach a record by 2025 after several major nuclear power plants reached all-time highs or multi-year peaks. Data from the energy think tank Ember revealed that nuclear-powered electricity supply in China, India South Korea and France will all rise to their highest levels for at least five year in 2025. The nuclear power industry in Japan has recovered after the Fukushima disaster in 2011. It is expected to continue growing in 2026 when the world's biggest reactor will be restarted in Niigata Prefecture. In 2026, new nuclear reactors will also be operational in China, India Turkey and the United States, which is expected to further increase the nuclear sector's appetite for uranium and boost total nuclear power production to new record highs. Power Pipeline Europe is home to the majority of nuclear power reactors in the world, with 39% located there. Global Energy Monitor data shows that Europe has a nuclear power generation capacity of around 157,000 megawatts. Asia is the next largest region in terms of nuclear power with 120,000 MW. North America follows closely behind at 117,000 MW. The nuclear pipeline is dominated by Asia, with 82,000 MW reactors being built globally, but 66,000 MW in Asia. Asia is also home to two-thirds (or 67%) of all nuclear power plants that are in pre-construction. This means the sites have already been chosen and permits obtained, but crews still haven't broken ground. GEM data shows that around 107,000 MW of power is in pre-construction worldwide, with 60,000MW in Asia, 36,600 MW Europe, 8,800 MW North America, and?4,000MW Africa. Asia will become the main nuclear hub once the plants under construction or in pre-construction have been completed. This batch has around 246,000MW?of the 590,000MW global nuclear power generation capacity. China is the leader in the nuclear sector with a capacity of around 65,000 megawatts, followed by India at 32,000 megawatts. Around 8,000 MW in the United States are in development. This would, when completed, represent a roughly 7 % increase in installed nuclear capacity. It is possible that, due to the aggressive policies being implemented in the U.S. Nuclear Sector, additional capacity plans may be developed in the future. This will in turn tighten up the country's supply of uranium and keep the price of uranium prone to surges for the foreseeable. These are the opinions of the columnist, who is also an author. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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Report: Greek airspace blackout caused by old systems and not cyberattack
Investigators in a recent report said that the eight-hour radio blackout at Greek airports, which forced authorities to clear airspace in the country and divert dozens of flights to other airports was partly due to an outdated communication system. On January 4, air traffic controllers were unable to contact most planes including dozens of aircraft heading towards Greek airports as the radio frequencies dropped and were replaced with static. Experts in aviation said that the incident was unprecedented for a country in southern Europe. The report of a five member investigating committee, commissioned by government, found that the exact cause of the problem, where multiple systems went 'out of sync', caused a scramble of communications between towers at airports and planes is still unclear. The report rated the incident "low risk" in terms of?flight security, ruled out cyberattacks and stated that pilots and air traffic controllers were able to respond effectively. The report was sent to Greece's Transport Ministry and published late Tuesday. It states that the voice communication system of the Civil Aviation Authority and its critical supporting telecommunications are outdated technologies, no longer supported and without operational guarantees. According to the report, "the Greek telecommunications company OTE has been warning civil aviation authorities since 2019 that their systems need new circuits." The report called for new transceivers, among other things. The report also called for the creation of an?emergency response?mechanism that would be shared between OTE and the Civil Aviation Authority. A transport ministry official said that Greece's systems were in line with EU Standards in response to the report. However, the ministry has implemented a plan for upgrading its systems, which is expected to be complete in 2028. Unions have called for upgrades since years but say that the system is unsafe, particularly in light of the tourism boom, with millions flying into Greece each year. They said on Wednesday that the report vindicated their protests. Reporting by Renee Maltezou, Editing by Edward McAllister & Sharon Singleton
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Wall Street Journal, January 14, 2019
These are the most popular stories from the Wall Street Journal. ? The accuracy of these stories has not been verified by the site. Saks Global, a high-end department store conglomerate, filed for bankruptcy protection on Tuesday night in what was one of the biggest retail collapses since pandemic. The Trump administration gave the formal green light on Tuesday to China-bound sales of Nvidia’s second-most powerful AI chip. They put in place a rule which will likely start shipments of?H200, despite concerns from China hawks?in Washington. Jamie Dimon, CEO of JP Morgan Chase, defended the Federal Reserve on Tuesday after it was subpoenaed to appear by the Justice Department. Dimon said that "anything" that undermines the independence of the central bank "is not a good thing." Netflix is planning to make a cash-only?offer on Warner Bros Discovery’s streaming and studio businesses. The U.S. government will invest $1 billion in the growing rocket motor business of L3Harris Technologies, ensuring a steady supply of?motors for a wide range missiles such as Tomahawks?and Patriot interceptors. The U.S. government will invest $1 Billion in L3Harris Technologies, a growing rocket motor company. This investment will ensure a steady supply of motors that are needed for many missiles including Tomahawks and Patriot interceptors. Diana Shipping has said that Genco Shipping & Trading's board rejected its bid to acquire the company without engaging with it.
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Is the US Uranium Market about to go Nuclear in 2026? Maguire
The market for uranium, the primary fuel in nuclear power plants, is becoming tighter as reactor construction increases. This is setting up a price rally for uranium this year. Data from Canadian uranium mining company Cameco showed that U.S. spot uranium prices in 2025 ended at $82 per pound, a rise of $10 or 12 percent compared to the end 2024. This is a far cry from the increase of over 100% that was seen in the 2025 share prices of major uranium producers and fuel suppliers, whose shares soared due to the U.S. Government's efforts to restart nuclear power production. While equities linked to the "nuclear supply" chain are likely to continue to be popular with investors, the industry is now focusing on the state of uranium which is experiencing a growing structural deficit due to consumption exceeding production. The uranium shortage is being exacerbated by the surge in demand for electricity due to the AI-driven boom in data centres, as well as the construction of modular reactors. This is especially true in the U.S., where the mine supply has been at historic lows over the last decade. The U.S. mine uranium production is increasing again, but it is still only expected to be 1 million pounds in comparison to the 50 million pounds consumed annually by the U.S. The mismatch between supply and demand is causing the U.S. price of uranium to rise, which could intensify by 2026. While spot prices are still below $90 per pound, executives who track discussions between mine suppliers?and power?generators?have noted that long-term contracts for pricing are closer to $100. If deals are confirmed above or at the psychologically important $100 mark - which was last consistently exceeded in 2007 – that could help spark new momentum in spot markets and establish uranium among 2026's most exciting markets. STOCKS DRAWDOWN In recent years, the U.S. supply deficit of uranium was filled by imports from the secondary market. This includes stockpiles at utility companies, decommissioned warheads, and material left over in enrichment plants. The increased purchases of utilities and government agencies has now reduced those secondary supplies. In addition, restrictions on future uranium exports from a belligerent Russia (which will be prohibited in 2028) have also narrowed sources for imports. The combination of reduced stockpiles in the local secondary market, and import restrictions has increased the focus on the spot-market and any new but uncontracted outputs from uranium mining. Investors' increased uranium purchase is further tightening the supply imbalance, and they are another driver of positive market sentiment. The Sprott Physical Uranium Trust's (SPUT) holdings of uranium, the largest fund in the world that stocks physical uranium, increased by 9 millions pounds to reach a record high of 72.5 million pounds by 2025. Investor holdings of nuclear fuel, which is needed to power the sector, are expected to grow as the fleet grows and more reactors start up. This will give prices a boost. Record Nuclear Generation The world's output of nuclear electricity is likely to reach a record by 2025 after several major nuclear power plants reached all-time highs or multi-year peaks. Data from the energy think tank Ember revealed that nuclear-powered electricity supply in China, India South Korea and France will all rise to their highest levels for at least five year in 2025. The nuclear power industry in Japan has recovered after the Fukushima disaster in 2011. It is expected to continue growing in 2026 when the world's biggest reactor will be restarted in Niigata Prefecture. In 2026, new nuclear reactors will also be operational in China, India Turkey and the United States, which will help to boost total nuclear power production to new record highs. Power Pipeline Europe is home to the majority of nuclear power reactors in the world, with 39% located there. Global Energy Monitor data shows that Europe has a nuclear power generation capacity of around 157,000 megawatts. Asia has the second largest nuclear footprint, with 120,000 MW. North America follows closely behind at 117,000 MW. The nuclear pipeline is dominated by Asia, with 82,000 MW reactors being built globally, but 66,000 MW in Asia. Asia is also home to two-thirds (or 67%) of all nuclear power plants that are in pre-construction. This means the sites have already been chosen and permits obtained, but crews still haven't broken ground. GEM data shows that 107,000 MW of power is in the pre-construction stage around the world. This includes 60,000 MW Asia, 36,000 in Europe, 8,0 MW North America, and 4,000 in Africa. Asia will become the main nuclear power hub in the world once the plants under construction or in pre-construction have been completed. This batch has around 246,000 MW out of the total 590,000MW nuclear power generation capacity. China is the leader in the nuclear sector with a capacity of around 65,000 megawatts, followed by India at 32,000 megawatts. Around 8,000 MW in the United States are in development. This would, when completed, represent a roughly 7 % increase in installed nuclear capacity. It is possible that, due to the aggressive policies being implemented in the U.S. Nuclear Sector, additional capacity plans may be developed in the future. This will in turn tighten up the country's supply of uranium and keep the price of uranium prone to surges for the foreseeable. These are the opinions of the columnist, who is also an author. You like this article? Check it out Open Interest The new global financial commentary source (ROI) is your go-to for all the latest news and analysis. ROI provides data-driven, thought-provoking analysis on everything from soybeans to swap rates. The markets are changing faster than ever. ROI can help you keep up. Follow ROI on You can find us on LinkedIn.
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In Thailand, crane accident kills 19 and injures 80 after it falls onto a train
Police said that a train derailed on Wednesday in northeastern Thailand after a crane fell?on to three of its carriages. At least 19 people were killed and about 80 injured. The accident occurred on Wednesday morning, in the Sikhio District of Nakhon Ratchasima Province, 230 kilometers (143 miles), northeast of Bangkok. It happened on a train from the capital heading for Ubon Ratchathani. The local police informed? Local police told? The team backed off for safety reasons after discovering that 19 bodies had been recovered. However, there were still some bodies inside the train carriages, which could not be removed because the crane began to move. In a press release, Transport Minister Phiphat Ratchakitprakarn said that there were 195 people on board. He also ordered an extensive investigation. He said that the victims were found in two of three carriages struck by the crane. The crane collapsed while working on a high speed rail project, and struck a passing train. This caused it to derail?and briefly catch blaze. The ministry shared images of carriages overturned near shrubland, and firefighters extinguishing an blaze while smoke billowed out. The elevated high-speed railway line is one of many under construction in Thailand. It was built above the existing rail track.
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US warns of urgent safety after two fatal crashes involving airbags
The National Highway Traffic Safety Administration issued an urgent alert to used car owners, buyers and repair shops on Tuesday after two more drivers died in crashes caused by unsafe Chinese airbag inflators which were likely illegally imported. Auto safety agency reported that it knew of 10 accidents involving ruptured replacement inflators manufactured in China by Jilin Province Detiannuo Automobile Safety System Co. Ltd. (also known as DTN) and likely illegally imported to the United States. NHTSA reported that eight drivers were killed in otherwise avoidable accidents, and two others suffered serious injuries after their original airbags had been replaced by substandard ones. NHTSA stated that the airbag inflators?DTN malfunctioned during crashes, "sending large metallic fragments into driver's chests, necks and eyes." NHTSA opened an investigation in October into DTN replacement airbags following?eight crashes resulting in six deaths. NHTSA has partnered with law enforcement agencies in order to investigate any illegal activities related to the importation of DTN replacement inflators. NHTSA could not confirm that the risks are limited to these models or makes, but all of the replacement airbags in fatal crashes were installed on used Chevrolet Malibu and Hyundai Sonata cars. Hyundai Motor expressed concern over reports that counterfeit airbag inflators were installed as replacement parts on three older Sonata cars. Hyundai said that these 'dangerous' components were not authorized or supplied by the company and were installed on vehicles with salvaged titles or rebuilt titles. "Protecting customers is our number one priority. We 'fully support NHTSA in its ongoing efforts to identify counterfeit inflators." General Motors, the maker of Chevrolets, declined to comment. DTN likewise did not immediately respond to an inquiry for comment. NHTSA Administrator Jonathan Morrison stated that the agency is focused on the industry and the consumers. The agency issued an alert to auto repair industries to be on the lookout and to notify NHTSA as soon as they have any information regarding these inflators. As DTN acknowledged on its site, inflators were prohibited in the United States. NHTSA stated that whoever is bringing these inflators into the country and installing then is putting American family members at risk. If you are buying a used vehicle that was involved in an accident where the airbag deployed, inspect it immediately to make sure the replacement air bag is equivalent to the original. (Reporting and editing by Franklin Paul, Nick Zieminski, and David Shepardson from Washington)
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Officials say that a drone attack in Ukraine has ignited an industrial fire in Rostov-on Don, Russia.
Regional officials reported on Wednesday that a Ukrainian drone attack on Rostov-on-Don overnight resulted in?two fires, four injuries and damage to apartment buildings. Yuri Slyusar is the governor of Russia's Rostov Region. He said that four people were injured, including a child aged four, when debris from?fallen drones damaged their apartment. Rostov-on Don is the administrative centre of Rostov Region. Slyusar, a Telegram user, said that all the injured were hospitalized. He refused to say which industrial facility was on fire, but said that one of the blazes had been extinguished and the other contained by Wednesday morning. Aleksandr Skryabin said that temporary housing was provided for families displaced from damaged apartments. It was not possible to determine the full impact of this attack immediately. Ukraine has not commented on the attack. Ukraine used drones against targets in Russia. They claim that such attacks are meant to weaken Moscow's energy and military infrastructure, and to respond to Russia's ongoing strikes on Ukrainian cities. The war Moscow was launched nearly four years ago. Rostov on Don, a major transport and logistic hub near Ukraine, is home to key military headquarters, and it's also a centre of operations for Moscow. Drones are increasingly targeting this area. (Reporting and editing by Tom Hogue in Melbourne, and Thomas Derpinghaus.)
Executives, trade and labor associations comment on Trump's reciprocal duties
U.S. president Donald Trump announced on Wednesday that he will impose a baseline 10% tariff on all imports into the United States, and higher duties for some of the biggest trading partners. This could escalate a global trade war and upset the global economy.
The latest responses from business executives, unions and trade associations.
Companies
On Holding
We've noted the tariffs announced and we are continually monitoring the changing situation and policy changes. "Our global value chain and supply chain is well-positioned."
GERMANY'S FRESENIUS
"We... strongly support the proposal to exclude pharmaceuticals from the reciprocal tariff, as such a tariff could potentially lead to shortages of important medicines for American patients."
STEEL GROUP APERAM
We will examine the feasibility of moving some of our production to the U.S. if we are able to export limited quantities from the EU.
The current lack of predictability in regulatory matters creates a hostile business environment both on the US and European sides.
STELLANTIS
The automaker announced that it would temporarily stop production in some of its Canadian assembly plants and Mexican assembly factories, including its Windsor assembly facility in Canada.
ANTONIO BARAVALLE is the CEO of LAVAZZA
We had planned to increase the local production (in the U.S.A.) by 100%.
"We're ready to go... but there's this other element to investigate, the duties for Brasil... If they put 10% on Brazil, then the duty (of 20%) is already half.
The coffee maker produces about 50% of the amount it sells locally in the U.S.
FERRARI
The purchase contracts for Ferraris contain standard and clear clauses that allow the company to adjust the price in the event of a change in the market conditions before the vehicle is delivered.
A Ferrari spokesperson confirmed that new tariffs would also be applied to Ferrari cars that were ordered in the past but have not yet been delivered to the U.S.
MOTOFUMI SHITARA, CEO, YAMAHA MOTOR
"Our exports will certainly be affected." We will have to raise prices or reduce costs if these tariffs are extended over time, even for vehicles.
MAERSK
"We expect our customers to be more careful about their stock levels." We're likely going to see some air freight rush orders in the U.S. very soon, before the tariffs go into effect. We will also see a rise in the demand for bonded warehouses as customers want to delay clearing their goods until they have more certainty."
GERRESHEIMER
Tariffs are affecting primarily our exports to the U.S. from our Mexico-based plant. Injection vials are one example. We will pass on these customs fees to our customers as an additional cost. We will be able, if necessary and if customs duties remain in place for a longer period of time, to move our capacities."
MASSIMO BATTAINI is the CEO of PRYSMIAN
The announcement seems to have had a positive effect on the local production. The tariffs are applied to the finished products and removes any risk of U.S. producers being undercut by foreign production.
ANDERS VINDEGG HEAD OF MEDIA RELATIONS, HYDRO
"We work actively from Norway as well as in Brussels, the EU to inform and work actively with organisations and other initiatives that we are a part of in order to leverage the importance Norwegian aluminium for Europe."
ASSOCIATIONS
IPC, A Global Association for Electronics Manufacturing
"We are pleased with President Trump's focus on revitalizing American defense industry, and his commitment to strengthen American manufacturing. Tariffs won't achieve this goal...Trade essential for supply-chain resilience and innovation. Tariffs will only increase costs and drive production overseas.
RETAIL INDUSTRY LEADER ASSOCIATION
The President's plan will not only hit the budget of every family, but also American innovation and national security.
These newly announced tariffs - and the anticipated retaliatory duties on American businesses - risk destabilizing U.S. economic growth and manufacturing.
EUROCOMMERCE, EUROPEAN RETAIL INDUSTRY BODGE
"EuroCommerce urges the EU and U.S. Administrations to engage constructively in dialogue. In the event that negotiations fail, EU can use its legal authority to take action against unfair trade practices by a third country. The EU has a wide range of tools to help it address the situation.
International Apparel Federation
The announcement by the U.S. Government of high taxes on trade with the rest is a shock to the global apparel industry. This unnecessarily creates an entirely new, often irrational world that affects billions of dollars in investments and the lives and livelihoods of tens and millions of people who work in our industry worldwide. Someone will pay the price at some point."
CANADIAN STEEL ASSOCATION
To reduce its dependence, the Canadian Steel Industry urgently needs the adoption of border measures to address unfair trade in steel in Canada, and help recapture the Canadian Market for our industry, workers, and communities.
The Spanish Association of Olive Oil Exporters
This 20% is a serious disadvantage for the Spanish olive oil industry, as compared to other countries that produce olive oil but do not belong to the European Union.
"98% (of the olive oil consumed by Americans) is imported, so these tariffs would result in an increased purchase price which will be paid by U.S. consumers." consumers."
KEVIN C RAVEN, CEO of ADS GROUP on AEROSPACE COMPONENTS
We are not sure if the exemption from all tariffs (on items classified as airworthy by regulators) is still in place and if these tariffs are applicable or not. This could make the situation worse.
COPA-COGECA EU FARMING GROUPS
The introduction of additional tariffs could disrupt global supply chains and drive up prices. It would also limit the market access of farmers and agricooperatives from both sides of Atlantic. This will have significant economic implications for the agricultural industry.
ANTHONY BRUN, HEAD OF FRENCH GROWERS ASSOCIATION (UGVC)
"One might have been frightened by much higher tariffs. However, this risk remains and is associated with a possible conflict over bourbon whisky. Already, we face tariffs from China. Now, there is the U.S. and the consequences are going to be brutal for wine growers.
SIGRID de VRIES, Director General, European Automobile Manufacturers' Association
"We urge both leaders to meet immediately to find a resolution to any issues that prevent free and fair trading between historical allies, and to allow the EU-US relations to flourish again."
SWISS BUSINESS GROUP ECONOMISSE
"We must prevent a further escalation in the trade conflict. Swiss economic diplomacy and the Federal Council are urged to find quick solutions with the U.S. Government at the negotiation table. "From an economic perspective, the U.S. tariffs on Switzerland are not comprehensible - rather the opposite."
DIRK JANDURA HEAD OF GERMANY EXPORTERS ASSOCIATION (BGA)
"We'll have to pass on these tariffs as price increases and this will impact turnover in many instances." It is an economic dead end that will result in welfare losses on both sides of Atlantic. Reporting by Bureax; compiled by Mrinalika, Roy, Pasquini, Alessandro, and Linda Pasquini. Editing by Alan Barona and Milla Nissi.
(source: Reuters)