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FirstFT: Iberdrola warns of ‘protectionist’ risk to US offshore wind sector

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The US offshore wind industry is at risk of being left behind.Died in the waterIf the United States restricts the use of foreign materials and equipment, according to a Spanish-owned company jointly building the country’s first major project.

Bill White, head of offshore wind farms in Avangrid, part of Iberdrola, said demand for local content could undermine the development of offshore wind farms that currently rely on European-made equipment. Said.

Parliamentary Democrats last week announced a green tax credit on a $ 3.5 trillion infrastructure package that is hoping to help clean up the electricity sector, causing a boom in renewable energy.

However, the proposed law includes provisions that associate some tax credits with job creation and US steel use goals. This states that operators can increase costs and delay construction.

Do you have any feedback on the newsletter?Please let me know jennifer.creery@ft.com.. Thank you for reading FirstFT Europe / Africa — Jennifer

5 more stories in the news

1. Hedge fund riding crypto wave post bumper returns Cryptocurrency hedge fund Increased by almost 24% In August, significant price volatility in digital assets surpassed sleepy equity and currency market investors.

  • Fight a good fight? Reflected Twitter salvo by Coinbase boss Brian Armstrong Increased anger Among crypto entrepreneurs who claim that regulators are curbing innovation.

  • Dig deeper: Regulators fear blockchain technology will be easier for criminals and thief politicians Move money Global financial system.

2. Signs of flat US inflation US Treasuries rebound as bank stocks rebound Squeezing major stock markets Yesterday, easing US inflation warmed investors to the view that the Federal Reserve would have more time to remove the stimulus of the crisis.

3. Apple will showcase four iPhones at a product event Released by Apple 4 5G compatible iPhones And we announced a series of updates to some of the most popular devices, such as the iPad and Watch. This is because some of the world’s most valuable companies have tried to regain public attention after months of scrutiny of antitrust laws.

Apple CEO Tim Cook said the new iPhone series had “the biggest camera system breakthrough ever” © Apple via Getty Images

4.4. German liberal leaders signal a clash of roads to the coalition German Liberal Democratic Party leader Christian Lindner Strict conditions After the national elections, he joined the possibility of a coalition between the Social Democratic Party and Greens, demanding tax cuts, curbing new borrowings, and returning to pre-pandemic spending rules.

5. Chinese ambassador banned from parliamentary events The two speakers of the British Parliament forbidden Zheng Zeguang is at risk of further damaging bilateral relations by quitting attendance at the reception amid growing anger over human rights abuses in China.

Coronavirus digest

  • Vaccine passports, mandatory face masks, telecommuting orders Reintroduction of England Boris Johnson announced yesterday if the NHS faced unsustainable pressure this winter.

  • NS England Participated and announced in 9 other countries including France and Israel Booster Jab Campaign.. The head of the country’s largest rapid testing supplier the end Make free kits available to the public by the spring of 2022.

  • U.S. personal consumption not yet Above the pre-pandemic level Signs of shoppers shrugging concerns about delta variants and consumer prices Ascended at a slower pace In August.

  • Pfizer He said he plans to apply in November U.S. approval Of that vaccine for children from 6 months to 5 years. Today, FT is hosting a digital conference on the future of healthcare in the United States.Register for an event here..

  • Vladimir Putin He said so “Period” self-quarantine After exposure to the coronavirus with an apparent outbreak in the Kremlin. (FT, Bloomberg)

FT’s view is that Britain is right Press firstUse boosters and vaccines for teens, late. follow Our live coronavirus blog With more sign up to us Coronavirus Business Update A newsletter about how pandemics affect the market, global business, workplace and everyday life.

Line graph of the US consumer price index month-on-month,% showing that the US consumer price index is chilling

The day before

Ursula von der Aleien’s EU speech status President of the European Commission will address the European Parliament in Strasbourg, France today.. It will come when the block statistics agency Eurostat publishes industrial production figures. For the latest news from the continent and what you need to know ahead of Germany’s next big election sign up For the Europe Express newsletter.

British Cultural Secretary Defending the Sale of Channel 4 In a speech at the Royal Television Society conference in Cambridge, Oliver Dauden protect The government plans to privatize broadcasters, claiming that “stockport or Southend grandma” does not have to undertake the investment needed to compete with something like Netflix.

What else are you reading

Brexit: Quiet damage limit practice For the first time in five years since the Brexit referendum, the predicament in EU-UK relations shows signs of a temporary thaw. Rhetorical hostility remains fierce, but on the ground, both sides are quietly transitioning to damage-restricted mode. I’m writing Chris Giles..

Chinese cosmetology to receive cosmetology Since the beginning of July, despite the popularity of cosmetics, the market value of the country’s three largest listed medical and beauty companies has fallen by a third.Or shift Investor sentiment comes as state media intensifies industry criticism for promoting the idolization of physical appearances — and some young people welcome the calculation.

Chinese mass media is increasing industry criticism to promote idolization of physical appearance

Chinese mass media is increasingly criticizing the industry for promoting idolization of physical appearance © Image China / Oriental Image / Reuters

Turkish wall to keep Afghan refugees out President Recep Tayyip Erdogan was once a defender of his country’s open door policy, especially for the 3.6 million Syrians refugees. However, the economic downturn exacerbated public sentiment towards foreigners and sank into supporting his party. Now he says Turkey is in EuropeWarehouseFor refugees.

Flexibility Factors: Who Will Return to the Office? FT management editor Andrew Hill Latest return to work plan In some of the largest companies in the world. Working from home may reduce emissions, but Shift them..

Parlor return George Farmer, a 31-year-old former hedge fund partner and son of a British baron educated at Oxford University, is planning Back route For a “free speech” social network that has attracted millions of Donald Trump supporters for last year’s US presidential election.San Francisco Technical Correspondent Hannah Murphy Interviewed him About his plans for a controversial app.

beauty

Are you a “skinimalist”? A wave of skincare brands and products that resemble the Normcore trend that pervades fashion. Appeared To simplify, understand, and even underestimate your cosmetology system, Nicola Moulton writes.

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FirstFT: Iberdrola warns of ‘protectionist’ risk to US offshore wind sector Source link FirstFT: Iberdrola warns of ‘protectionist’ risk to US offshore wind sector

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