NEW YORK | By Ana Fuentes | Half a million phone calls, emails and text messages bugged by the American security agency in Germany over a typical month; microphones at the French, Italian and Greek missions and Embassies in Washington… European leaders are outraged. The last Snowden saga revelations might compromise their trade deal with the US.
Highly educated, they used to have steady jobs and decent wages… until now. The so-called ‘insiders’ are the new victims of Spain’s unemployment drama, which affects more than 27% of the population. Prospects for 2013 are gloomy, since credit is not flowing, SMEs are choking and consumption remains paralyzed. Have the labor reform and all sacrifices been worth it?
NEW YORK | By Ana Fuentes | For the first time since 1970, medical costs in the US went down a seasonally adjusted 0.1% in May, according to the Labor Department, due to more generic drugs reaching the market and the effects of the new federal law. However, consumers shouldn’t get overexcited: they will still spend a big chunk of their wages on health care.
NEW YORK | By Ana Fuentes | The US president visited his key ally in Europe amid tensions caused by the American surveillance program, their use of German military bases for drone strikes and Obama’s disagreement with chancellor Angela Merkel on how to handle the euro crisis.
Accomplished businessman expert in global licensing for private channel HBO, James Costos may focus on fighting Spain’s exorbitant copyright infringement. If confirmed by the Senate, he will replace Alan D. Solomont.
NEW YORK | The US Supreme Court has ruled unanimously against patenting human genes. A decision expected to have a huge impact on the biotech industry: European firms may now have more leeway than their American counterparts.
NEW YORK |By Ana Fuentes | Apple iOS 7, the tech giant new operating system, was unveiled this week, although for many looks like a copy from Android and Windows. What’s behind the halo of simplicity that millions of fans love? Is Apple the advance copier in a patent infringement war worldwide?
NEW YORK | Being bearish about the European Union is not fashionable anymore. Despite some shocking unemployment rates and debt loads, the old continent is still the world’s largest economy, around 30% bigger than China. Something US firms should take into account, the AmChams advices in a report recently released in New York.
A new dispute among EU members has arisen. This time is not an austerian versus keynesian brawl but a shall-we-punish-Chinese-dumping one. Next week the Commission will decide whether to impose big tariffs to the $27 billion worth of solar panels that China sells to Europe each year. In this battle over how to respond to Beijing trade practices, will domestic interests prevail?
NEW YORK | By Ana Fuentes | The last huge tornado in Oklahoma could cost as much as 2 billion dollars. The center of the state has been devastated, 24 people dead, around 13,000 homes destroyed, cars and schools totally ruined. The final bill for the State, the regional government and private insurers is going to be one of the highest in US history.