Wall Street Breakfast EU weighs EV subsidies amid struggles
Jan 23, 2025
The European Union is considering bloc-wide EV subsidies as demand weakens, sparking discussions on future industry dynamics. Meanwhile, nuclear stocks are rallying as South Carolina revives a significant project to meet AI needs. In the corporate world, CNN and NBC News are facing massive layoffs, highlighting industry challenges. Additionally, watch out for insurance stocks amid the Hughes Fire north of LA. The podcast also touches on notable market movements, including shifts in crude oil and Bitcoin prices.
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EU Considers EV Subsidies
- The EU is considering EV subsidies to bolster its domestic carmakers, who are lagging behind rivals.
- Weak EV demand and the 2035 combustion engine deadline add pressure.
Trump's Stance on EV Subsidies
- Former U.S. President Trump pledged to end EV subsidies, claiming they were unfair.
- He aimed to revoke the Biden administration's EV goals, impacting the industry.
Nuclear Reactors' Revival
- Santee Cooper seeks partners to restart two nuclear reactors at the V.C. Summer station.
- This move is driven by increasing clean energy demands from tech companies for AI.