FT News Briefing Trump halts $300bn in clean energy loans
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Jan 23, 2025 European banks are announcing their largest dividends in years, while President Trump's decision to freeze $300 billion in clean energy funding raises urgent questions about U.S. climate efforts. Concerns loom over the potential impact on renewable projects and clean tech companies. Meanwhile, military regimes in Africa's Sahel region intensify pressures on international mining companies, complicating profit-sharing and safety. In a lighter twist, AI is revolutionizing drug discovery, shortening timelines and addressing everyday health challenges.
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European Bank Comeback
- European bank dividends reached their highest since 2007, driven by substantial profits.
- Buybacks also increased, marking a significant turnaround after the 2008 crisis and 2020 pandemic.
Trump Freezes Green Funding
- President Trump froze billions in green infrastructure funding from the Inflation Reduction Act.
- This impacts renewable energy projects and manufacturing, causing uncertainty in the sector.
Trump Pressures Putin
- Trump urged Putin to end the Ukraine war, threatening further sanctions if no deal is reached.
- These sanctions might target oil and gas exports, although their impact could be limited.