S&P 500   4,574.79
DOW   35,756.88
QQQ   379.12
S&P 500   4,574.79
DOW   35,756.88
QQQ   379.12
S&P 500   4,574.79
DOW   35,756.88
QQQ   379.12
S&P 500   4,574.79
DOW   35,756.88
QQQ   379.12

France seeks European support after submarine deal surprise

Monday, September 20, 2021 | Angela Charlton , Associated Press

FNS Amethyste (S605) visits Naval Submarine Base New London
In this photo provided by U.S. Navy, French submarine FNS Amethyste (S605) transits the Thames River in preparation to arrive at Naval Submarine Base New London in Groton, Conn., Sept. 1, 2021. Australia's Prime Minister Scott Morrison on Friday, Sept. 17, rejected Chinese criticism of Australia's new nuclear submarine alliance with the United States and said he doesn’t mind that President Joe Biden might have forgotten his name. (Chief Mass Communication Specialist Joshua Karsten/U.S. Navy via AP)

PARIS (AP) — France canceled meetings with British and Australian officials and is trying to rally EU allies behind its push for more European sovereignty after being humiliated by a major Pacific defense pact orchestrated by the U.S.

The U.S., Australia and Britain insisted Monday that the diplomatic crisis wouldn't affect their longer-term relations with France, which is seething over a surprise, strategic submarine deal involving the three countries that sank a rival French submarine contract.

France recalled its ambassadors to the U.S. and Australia for the first time in history because of the deal, and its anger is showing few signs of subsiding.

French Foreign Minister Jean-Yves Le Drian, in New York to represent France at the U.N. General Assembly, is expected to give a news conference Monday to address the situation. He's also meeting with foreign ministers from the other 26 European Union nations in New York, where he will discuss the consequences of the submarine deal and France's vision for a more strategically independent Europe.

France won support Monday from the European Commission president, Ursula von der Leyen, who told CNN that “one of our member states has been treated in a way that is not acceptable. ... We want to know what happened and why.”

While U.S. President Joe Biden is hosting the Australian and British leaders this week, he won’t see French President Emmanuel Macron, who’s not traveling to the U.N.

Instead, Biden plans a call with Macron in the coming days, where he will underscore the U.S. commitment to its alliance with France and lay out specific measures the two nations can take together in the Indo-Pacific, according to a senior U.S. administration official who spoke on condition of anonymity to discuss planning for the leaders’ call. The official said while the administration understands the French position on the issue, it did not “share their view in terms of how this all developed.”

White House press secretary Jen Psaki said a disagreement about “a single decision” would not disrupt a relationship or harm the United States’ standing across Europe.

The submarine deal, known as AUKUS, will see Australia cancel a contract to buy diesel-electric French submarines and instead acquire nuclear-powered vessels from the U.S. The U.S., Australia and Britain say the deal bolsters their commitment to the Indo-Pacific region, and has widely been seen as a move to counter an increasingly assertive China.

The French government appears to have been blindsided by the agreement, and feels its own strategic interests in the Pacific — thanks to its territories and military presence there — were ignored by major allies.

“It’s not just a Franco-Australian affair, but a rupture of trust in alliances,” the French foreign minister was quoted as saying in the French newspaper Ouest-France. “It calls for serious reflection about the very concept of what we do with alliances.”

Le Drian said he canceled a meeting with his Australian counterpart in New York “for obvious reasons."

Le Drian said he has no meeting scheduled with his U.S. counterpart, Secretary of State Antony Blinken, while he's at the U.N., but might “pass him in the hallways."

Meanwhile France's defense minister canceled a meeting with her British counterpart this week.

British Prime Minister Boris Johnson, meanwhile, insisted that Britain’s relationship with France is “ineradicable." Speaking on his way to New York, he said, “AUKUS is not in any way meant to be zero-sum, it’s not meant to be exclusionary. It’s not something that anybody needs to worry about and particularly not our French friends.”

British officials have stressed the close military ties between the U.K. and France, including joint operations in Mali and Estonia.

In Australia, officials said France’s anger wouldn't derail negotiations on an Australia-European Union free trade deal.

French Ambassador to Australia Jean-Pierre Thebault denied media reports that France was lobbying the EU not to sign the trade deal with Australia that has been under negotiation since 2018.

Australian Trade Minister Dan Tehan said he would travel to Paris within weeks for trade negotiations and was “very keen to touch base with my French counterpart."

“I see no reason why those discussions won’t continue," Tehan said.

The European Commission, the EU's executive branch, said Monday they're analyzing the impact of the Australian submarine agreement.

Australia argues that the submarine deal was about protecting its strategic interests amid broad concern about China's growing assertiveness.

___

Aamer Madhani in Washington, Jonathan Lemire in New York, Rod McGuirk in Canberra, Lorne Cook in Brussels and Jill Lawless in London contributed.


7 Clean Energy Stocks to Buy As Climate Change Initiatives Heat Up

Climate change remains a polarizing political issue. However, as an investor, it’s a debate that bears watching. And that’s not just the case for environmental, social, and governance (ESG) investors. Every investor that’s looking to profit from the current $3.5 trillion infrastructure bill needs to pay attention to the current debate about climate change.

That’s because right now the business of climate change is beginning to catch up to the emotion. And that makes it a good time to invest in the clean energy sector. This includes solar and wind stocks. But it also includes other related sectors such as electric vehicle charging and other renewable energy sources such as renewable natural gas (RNG).

That’s the topic of this special presentation which looks at 7 clean energy stocks that look like strong buys as the Biden administration looks to pass its sweeping infrastructure bill.

Investors need to be able to skate to where the puck is moving. For years, climate change initiatives have been bogged down by the reality that the technology was not ready to meet the moment. That is rapidly becoming a non-issue. And that makes this sector one that investors can’t afford to ignore.

View the "7 Clean Energy Stocks to Buy As Climate Change Initiatives Heat Up".


Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.