Wall Street Week Playing Offense and Defense | European defense spending, corporate reinvention, business of video games
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Mar 28, 2025 Zannie Mitten-Bettos, Editor-in-chief of The Economist, discusses the rising tensions between the US and Europe, particularly on defense spending amidst geopolitical shifts. Joe Preston, CEO of New Balance, shares how the brand has revitalized itself through strategic pivots and a focus on U.S. manufacturing. The conversation also dives into the booming $200 billion video game market, highlighting the anticipation around upcoming titles like Grand Theft Auto 6, illustrating the industry's balance between creativity and commercial success.
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Europe's Shock
- Europeans are shocked by the perceived hostility from the current US administration.
- This has led to a reconsideration of Europe's reliance on the US for defense.
Germany's Shift
- Germany's commitment to increased defense spending is a significant turning point for Europe.
- This could lead to more joint bonds and stimulate technological innovation in defense.
Merz's Transformation
- Zannie Minton Beddoes interviewed Friedrich Merz before the German election.
- Merz's initial caution about defense spending has since transformed into decisive action.