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India's renewable energy output increases at the fastest rate in three years
In the first half 2025, India's renewable energy output grew at its fastest rate since 2022. According to an analysis of daily load dispatch data by the federal grid regulator, renewable power output increased 24.4% from January to June 2025 to 134.43 kilowatt-hours (kWh). In June, the share of renewables (excluding hydropower) reached a new record of over 17%. India's coal-fired electricity generation fell by nearly 3% during the first half of this year, as growth in overall power output slowed down to just 1.5%. Electricity production will grow 5.8% by 2024. A milder summer, due to an earlier-than-expected monsoon, and slowing economic activity have reduced coal demand, resulting in record domestic stockpiles and lower imports by the world's second-largest consumer of the fossil fuel behind China. According to Vikram V., vice president for corporate ratings at Moody's ICRA, renewable generation in India will continue to increase. This year, India is expected to add 32 gigawatts of renewable capacity, compared to about 28 GW by 2024. Government data shows that India has added 16.3 GW in wind and solar power capacity during the five months to May. After a long slowdown, the nation of South Asia has increased its wind and solar capacity. This is after it missed its target for 2022 of 175 GW. The country now wants to reach 500 GW non-fossil energy capacity, including nuclear and hydro power by 2030. This is nearly twice the current 235.6GW. S&P Global Commodity Insights stated in a report that "we believe this target is achievable but, in our base scenario, the goal may shift to 2032". Grid modernisation and energy-storage investments are crucial to support renewable integration. (Reporting from Sudarshan varadhan and Sethuraman NR, both in Singapore; editing by Shinjini ganguli).
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US Senate budget bill cuts money for filling oil reserves
The U.S. Senate budget bill, passed on Tuesday, reduces the amount of money that can be used to replenish the Strategic Petroleum Reserve despite the fact that President Donald Trump promised on the first day of his second term in office to fill it to "the top". Joe Biden, former president, sold 180 million barrels of SPR, the highest amount ever, following the Russian invasion of Ukraine. SPR was at its lowest point in 40 years when oil imports were more important to the U.S. The budget bill reduced the amount of money available for crude oil purchases in order to replenish the SPR from $1.3 billion to $171 millions. This is only enough money to purchase about 3 million barrels, instead of the 20 million barrels that are currently available at current prices. Rapidan Energy, an energy consultancy, informed clients that funding had been affected by the Senate’s need to cut budgets elsewhere, as they softened the green energy cuts in the House version. It was not clear when the U.S. House would vote on this bill. Trump stated on Tuesday that the SPR will be filled when market conditions are favorable, but he did not specify when or how. Even scheduled oil deliveries to the SPR after Biden purchased some crude last summer are seven months behind schedule. Biden had scheduled deliveries of 15.8 million barrels to the SPR between January and May. Only 8.8 million barrels have been delivered so far to the SPR, which the Trump administration has blamed on maintenance. The Senate bill kept a measure to cancel 7 million barrels in congressionally-mandated sales. Later in the year, lawmakers could repeal further mandated sales through legislation. SPR currently has approximately 403 million barrels. This is a far cry from the 727 millions barrels that it had in 2009, when it was the largest ever. The SPR is the largest oil reserve in the world. Under Biden's leadership, the U.S. achieved record oil production. Trump wants to increase this.
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UN expert: 'Lucrative business deals' help Israel sustain its Gaza campaign
In a report, a U.N. expert named 60 companies including major arms and technology firms. She accused them of supporting Israeli settlements in Gaza and their military actions, which she referred to as a "genocidal war." Francesca Albanese is an Italian lawyer who specializes in human rights. She is the Special Rapporteur of the United Nations on the Occupied Palestinian Territories. The report was compiled based on more than 200 submissions by states, human-rights defenders and companies. The report published late on Monday calls for companies not to do business with Israel, and that executives who are implicated in alleged international law violations be held legally accountable. Albanese wrote that the 27-page report showed why Israel's genocide is continuing: it is profitable for many. She accused corporations of being "financially tied to Israel's militarism and apartheid." Israel's Geneva mission said that the report was "legally unfounded, defamatory, and a flagrant misuse of her position". The Israeli foreign ministry and prime minister's office have not responded to requests for comments. The U.S. Mission to the United Nations, New York, called on U.N. Sec.-General Antonio Guterres for a condemnation of Albanese. They also demanded her removal. Israel rejected the accusations of genocide against Gaza. It cited its right to self defense following a Hamas attack on October 7, 2023 that resulted to 1,200 deaths and 251 hostages according to Israeli statistics. Gaza Health Ministry reports that the war in Gaza, which followed, has resulted in the death of more than 56,000 individuals and the destruction of the entire enclave. Arms FIRMS Identified in Report The report divides the companies into sectors, such as military or technology. It does not always specify if the companies are involved in the Gaza campaign or settlements. The report said that 15 companies had responded directly to Albanese’s office, but they did not publish the replies. The article names Lockheed Martin, Leonardo and other arms companies as having used their weapons in Gaza. The report also names heavy machinery suppliers Caterpillar Inc. and HD Hyundai. It claims their equipment contributed to the destruction of property in Palestinian territory. "Foreign military sales are government-to-government transactions. Lockheed Martin's spokesperson said that the U.S. Government is best suited to discuss these sales. No one else responded to our requests for comment. Caterpillar previously stated that it expects to use its products in accordance with international humanitarian laws. The technology giants Alphabet (Alphabet), Amazon, Microsoft and IBM are "central to Israel’s surveillance apparatus and ongoing Gaza destruction". Alphabet has defended the $1.2 billion contract it signed with Israel's government for cloud services, saying that this was not a military or intelligence operation. Palantir Technologies also provided AI tools to Israel's military. However, specifics about their use weren't included. The report adds to a U.N. database that was last updated in 2023 and lists new companies, as well as alleged links to the Gaza conflict. The 47 members of the U.N. Human Rights Council will receive it on Thursday. The U.N. Human Rights Council does not have legal binding power, but cases that were documented through U.N. investigations often inform international prosecutions. Israel and the United States withdrew from the Council in the first half of this year citing bias towards Israel.
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Spain and the World Bank push for wider use 'debt Swaps'
The Spanish Ministry of Economy announced on Tuesday that the two countries have teamed up to "swap" debts to free money for conservation and development in poorer nations. The Ministry of Economy in Spain announced on Tuesday that the country has partnered with the World Bank to help poorer countries free up money to spend on development and conservation via debt "swaps". The Spanish government announced that the Global Hub for Debt swaps for Development will provide financial and technical assistance to countries looking at debt swaps for climate change and food security. In recent years, nations from Barbados to Belize and Ecuador to Ivory Coast used debt swaps. They bought back expensive bonds or loans and secured refinancing agreements with lower rates. In recent years, debt-for nature swaps have accounted for $6 billion in transactions where a country reduces its debt in exchange of a promise to invest in conservation. In recent years, development banks have played a key role in reducing the cost of swapped loans and generating savings. They do this by providing insurance or guaranteeing the risk. Critics claim that such deals are time-consuming and complicated, and this has hindered a wider adoption of an important tool for helping countries reduce their debt burdens and tackle development issues. Carlos Cuerpo, Spain's Minister of Economy, Trade, and Business, stated that many countries have made it clear they need tools to make debt swaps easier, faster, and more accessible. The Hub will receive 3 million euros (3,54 million dollars) from Spain. World Bank President Ajay Banaga said that the Hub would be a host for a "multiple-partner trust fund" to finance technical assistance. TIMELY This push is timely for the debt-swap market, amid fears that U.S. support for these deals - especially those with a focus on climate or nature - may largely dry up under Donald Trump. Ilan Goldfajn, President of the Inter-American Development Bank, said that demand for broad development swaps is still strong. He made this statement at a press conference held in Seville, on Tuesday. IDB backed five out of nine of the largest debt-for nature swaps in the past, most of which were carried out with the United States International Development Finance Corporation. Goldfajn stated, "We're getting requests for debts for education and debts for health." These are things which have been in construction. "Let's see what they become." A group of conservation groups and investors, as well as development bankers, lawyers, and other professionals who have been at the forefront of the market's growth, published a guide on best practices for nature swaps in an attempt to encourage wider adoption. The guide included information on how and who to use debt swaps. Melissa Garvey said that debt swaps are now "a proven model for financing conservation at scale."
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South America is shivering in the cold as Europe sizzles
While Europe and North America suffer through heatwaves, South America is experiencing a similar extreme weather event at the opposite end: a sudden freezing snap. On Tuesday morning, residents of Buenos Aires bundled up in scarves and wore wooly hats as they sipped warm drinks while frost covered cars. The temperatures in the city fell below zero. This is a rare occurrence, even during the winter in the Southern Hemisphere which is now underway and runs in opposition to the seasons in the Northern Hemisphere. Juan Manuel Amnini wore a gray hat with a wool face cover to protect himself from the cold. You can cover yourself with anything you have. "I'm like an onion, wearing layers upon layers of clothing." Meanwhile, in Europe, Italy has banned outdoor work from certain areas while France closed schools and a part of the Eiffel tower. Spain has confirmed that it had its hottest ever June as a severe heatwave gripped Europe and triggered widespread health warnings. Authorities in Barcelona were investigating whether the death of an street sweeper at the weekend was due to heat. Since late June, temperatures have consistently been high in the northern and central swaths of the United States. There have been heat warnings issued in large areas. This is part of a pattern that has been linked to climate changes, with temperatures rising earlier and lasting for longer. The impact of asphalt and concrete in urban areas is amplified by their ability to absorb and radiate heat. The cold snap in Argentina, as well as Chile and Uruguay's neighbors, led to snowfall in unexpected places. Chilly winds from Antarctica blew south. Residents said that many homes and offices weren't built to withstand these conditions. Gael Larrosa, a student from Buenos Aires, said: "Right Now, I have a thermal under my clothes, a couple of trousers and another pair on top." I have a hard time with cold. The cold here kills, and it kills. Reporting by TV, writing by Adam Jourdan. Cynthia Osterman is the editor.
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Powell's comments and data gauged the impact of Powell's comments on US yields, stock prices, and US stocks.
Investors weighed the latest economic data from the United States and remarks by Federal Reserve chair Jerome Powell in order to determine when interest rates will be cut. Powell said at a central bank conference in Sintra that he couldn't say whether July would be too soon for a rate reduction, but "it will depend on the data and we are going from meeting to meeting." According to CME's FedWatch Tool the market expectations for a rate cut in July briefly increased to 21,2%, up from 18,6% in the previous session. However, they then declined to 19,1%. The Dow Jones rose about 1% on Wall Street but the S&P 500, Nasdaq and Nasdaq remained in check after reaching record levels Monday. This was partly due to a nearly 6% increase in Tesla following President Donald Trump's threat to stop the federal subsidies worth billions that Elon Musk’s companies receive. The Dow Jones Industrial Average gained 427.24, or 0.99%, to 44,522.63. The S&P 500 increased 1.03, or 0.02% to 6,206.19. And the Nasdaq Composite dropped 107.68, or 0.5%, to 20,262.06. The MSCI index of global stocks rose 0.32 points, or 0.03% to 918.21, while the pan-European STOXX 600 closed down 0.21%. Concerns over the impact of the tariffs on the global economy were reignited as the deadline of July 9 by Trump drew closer. The Institute for Supply Management reported that U.S. manufacturing was still in contraction in June. The Job Openings and Labor Turnover Survey (JOLTS) report showed that the number of openings had increased by 374,000, to 7.769 millions, on the last day in May. However, a decrease in hiring suggested the market might have slowed. Brian Jacobsen is the chief economist of Annex Wealth Management, a company in Menomonee falls, Wisconsin. "Despite a big jump in job openings, the economy remains stuck in Powell's equilibrium, which says, 'no fire, no hire'. It's not an equilibrium that is stable and, if you look at the ISM Manufacturing data for the summer, it may be the case that the job market will become weaker. Investors are closely watching the key government payrolls data due out on Thursday, a day sooner than usual because of the Independence Day holiday. This report will help to shape their expectations about rate cuts by the Fed. After the data, U.S. Treasury rates reversed their course and moved higher. The yield on the benchmark 10-year U.S. notes rose 2.9 basis points to 4,255%. The yield on the 2-year note, which is usually in line with expectations of interest rates from the Federal Reserve (usually based on their forecasts), rose by 6.2 basis points, to 3.783%. Trump's tax-cut and spending legislation continued its advance, as the Republican-controlled U.S. Senate passed by the thinnest of margins, and now heads back to the House of Representatives for final approval. "It will create some problems for fixed income markets as we continue spending no matter which party in power is in office, and that, in the end, is a negative for stock market," Rick Meckler said, a partner at Cherry Lane Investments, in New Vernon, New Jersey. Investors are not worried about inflation and continue to purchase stocks. The dollar index (which measures the greenback versus a basket currencies) is on course to end an eight-session streak of declines. The euro fell 0.03% to $1.1782, while the pound fell 0.01% at $1.3732. The dollar fell 0.26% against the Japanese yen to 143.63. The Bank of Japan Tankan Index of Business Sentiment showed that the largest economies in the region are likely to be holding up despite tariffs. A separate survey of the private sector revealed that the manufacturing sector in Japan expanded for the first time since 13 months in June. U.S. crude oil rose by 0.4% to $65.37 per barrel. Brent was up to $67.05 a barrel, a 0.46% increase on the day.
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Stellantis could close its factories as a result of EU fines on carbon emissions
The head of Stellantis' European operations, a Franco-Italian company, said that the automaker may be forced to shut down factories as he fears hefty fines from the European Union for failing to meet CO2 emissions targets. As part of the EU's effort to curb the devastating effects of climate changes, European auto manufacturers must sell more electric cars to reduce CO2 emissions. Otherwise, they risk being penalized. The automaker industry successfully lobbied to extend the deadline for compliance, so that fines are based on emissions in 2025-2027 and not just 2025. Jean-Philippe Imparato, the Europe Chief of Stellantis, said that automakers were not able to reach their targets and his company could be fined up to 2,95 billion euros in "two-three" years. He said, at a conference held in the lower chamber of the parliament in Rome, that if there are no significant changes to the regulatory environment by the end this year, then "we will be forced to take tough decisions." Imparato explained that Stellantis's fleet would have to be re-energy by switching to electric vehicles rather than petrol or diesel. This is not possible, as Stellantis either has to double the sales of electric vehicles (which is impossible) or reduce the production of petrol/diesel vehicles. "I have only two options: either I push hard (on electric vehicles) or I shut down ICEs (internal-combustion engine vehicles). "I close factories," he said at one point, mentioning Atessa's Italian van plant.
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Minister: Peru's economy is expected to grow by up to 3.5% per year in 2025
Economy Minister Raul Perez stated on Tuesday that Peru's economic growth is expected to be between 3.0% to 3.5% by 2025. This is lower than what the government previously predicted and compares to the 3.33% recorded last year. Perez said at a press event that he didn't see "severe risk" for Peru's economic future from the United States tariff policies. The Minister's Estimate is higher than the Central Bank's forecast for 2.9% growth in late June, but lower than earlier estimates by the government that projected a 3.5%-4% expansion. Peru's economy has been one of Latin America’s best performers for decades. But in recent years, growth has slowed due to social unrest that hit the mining sector and political instability. Perez stated that his ministry would meet with executives of the embattled Petroperu to ensure that its cash flow remained "viable." The company, which was seeking alternative sources of funding to avoid relying on more state aid, reported a net loss of $111 million in the first quarter of this year. (Reporting and editing by Natalia Siniawski, Alison Williams and Marco Aquino)
How Trump's second administration affects service: Musk, tariffs and more
Donald Trump's go back to the White House after winning the Nov. 5 U.S. governmental election might reshape American service. Much depends on whom he designates as deputies and cabinet members, consisting of the function of Tesla CEO Elon Musk, and what tariffs he enacts. Following are some major problems and sectors to watch:
WHAT ROLE WILL ELON MUSK PLAY? After some nudging from the world's wealthiest individual, Trump has said he would tap Tesla CEO Elon Musk to lead a new government effectiveness commission. Musk has actually stated a minimum of $2 trillion might be cut from the $6.75 trillion federal budget plan. How that works might be a crucial to the next Trump administration.
Does effectiveness imply fewer guidelines and regulators? Musk has been a singing critic, for instance, of federal review of his SpaceX rocket company. That might mean less oversight of self-driving automobiles (a Tesla organization) or rocket launches and much more. The two guys are not entirely in sync: Trump has actually said he won't. let California require all cars in the state go electric in. a decade, however Musk runs the world's most valuable EV business. A. rising tide raises all boats. So to the level that Elon is able. to obstruct the vilification of EVs by a possible Trump. administration, all the much better, said James Chen, former head of. policy for Rivian and Tesla. How Musk would resolve disputes of. interest between his interests in autos, space, health,. construction and artificial intelligence is unclear. Trump has actually pledged to be a crypto president, a strategy that may. start with replacing industry opponent Gary Gensler, the. Securities and Exchange Commission chair who has taken legal action against most of. the market-- including Coinbase, Binance and Kraken. Gensler's replacement is expected to review - and potentially. wreck - accounting guidance and produce industry exemptions. from SEC rules. Musk, too is a crypto fan, as is Silicon. Valley Trump fan Marc Andreessen and incoming Vice. President J.D. Vance.
Musk is also a huge proponent of carbon-free energy, with. Tesla being a major provider of planetary systems and batteries. Trump has actually guaranteed to kill the offshore wind market and. rescind all unspent funds under the Inflation Reduction Act--. Biden's signature climate law. But Trump faces dissent in his. ranks: Republican legislators, oil business and others see. huge red state gains from the law. Musk has actually played into that,. developing his 2nd U.S. electric car factory in Texas, for. instance.
TARIFFS. Trump has actually proposed a 10% tariff on all U.S. imports and 60% on. Chinese-made items, which if enacted would impact the entire. economy by pushing customer costs higher. The Tax Structure, a. non-partisan think tank, determined Trump tariffs would trek. taxes by $524 billion annually, diminish GDP by a minimum of 0.8%, and. cut employment by 684,000 full-time comparable jobs possibly. affecting retail employees, the biggest private sector company. He also recommended he might impose a 25% tariff on all imports. from Mexico.
Trump's tariff proposals might decrease American customers'. investing power between $46 billion and $78 billion each year,. according to a National Retail Federation research study.
Clothing, toys, furniture, home devices and footwear. would be the most afflicted categories, the study stated. Retailers. would move operations beyond China to countries including. Bangladesh, India, and Vietnam. Big-box shops like Walmart and. Target would face higher supply chain costs, while supermarkets. like Kroger, Albertsons, and Publix, which minimally source from. China, might benefit. Shipping and transportation specialists state. sweeping tariffs could at first bolster their company before. depressing trade. Tariffs loom over tech too. In recent weeks, Trump has also. greatly slammed the U.S. CHIPS and Science Act that has. sought to partly subsidize companies building factories in. the United States. Rather, he said the nation needs to enforce. tariffs on chips coming into the nation, particularly from. Taiwan's TSMC.
Tariffs also would dramatically raise costs for the sustainable. energy industries in the U.S., which rely greatly on Chinese. elements. Trump actions without Congressional backing could. consist of import tariffs of 10-20% (ex China), 60% -200% on Chinese. imports which might impact the expense of renewable projects,. particularly solar and storage tasks, according to an. October research note from Bernstein.
And after that there is the concern of China's retaliation. It is. the world's greatest soy importer and pork consumer, but it has. diversified its food supply base because Trump's tariffs in his. first administration. Additionally, China stopped working to totally comply. with a contract to buy more U.S. agricultural goods that it. signed with Trump in January 2020. Trump has actually pledged in his 2nd. term to impose 60% duties on imports from China, raising. issues that Beijing will retaliate by lowering imports of U.S. farm items.
OIL: DRILL INFANT DRILL - BUT NOT IRAN. The United States is currently the world's most significant oil and gas. manufacturer, however Trump wants to eliminate remaining barriers. He'll raise a freeze on brand-new melted gas export permits,. broaden federal drilling auctions, speed up brand-new pipeline. allowing and attempt to reverse or deteriorate regulations targeted at. cutting power plant and automobile emissions. Trump's assistance for the. oil and gas market could likewise lead him to temper his. opposition to the Inflation Decrease Act, considering that oil companies. are receiving some financing from it for carbon-free ventures. like carbon capture and sequestration.
The huge oil policy wildcard is how Trump will deal with rival. exporters, including Russia, Saudi Arabia, and Iran. It is. likely that Trump would eliminate sanctions on Russian energy, however. leave in location those on Iran, stated Ed Hirs, an energy fellow at. the University of Houston. Jesse Jones, an analyst with. seeking advice from firm Energy Aspects, anticipates even more. We believe. that the effect of a Trump administration returning to an optimum. pressure campaign on Iran could cause a million barrel each day. decline in Iranian crude exports, he said.
LABOR UNIONS. Organized labor made excellent strides under President Joe Biden,. who signed up with a picket line with U.S. auto employees. The UAW desires. to broaden and in future strikes the federal government could be. asked to intervene in a manner that undercuts employee bargaining. power, something Democrats have so far declined to do.
Republican politicians have actually normally been unfriendly to unions, however. Trump has actually played a different game, connecting to blue-collar. employees. Strong support among lots of union workers might press. Trump to protect those voters, stated Anthony Miyazaki, a. marketing teacher at Florida International University. Still,. his record of designating leaders to the National Labor Relations. Board resulted in a roll back of workers' rights to form unions. If this cycle repeats, it might possibly reverse the gains. unions have actually made since the pandemic, consisting of successful. arranging efforts at Starbucks and Amazon and other new. movements at Apple, REI and Trader Joe's.
OTHER SUBJECTS CONSIST OF:
FINANCE. Within banking, JPMorgan, Goldman Sachs, Bank of. America and other loan providers will likely take pleasure in a reprieve. from stiff capital walkings, M&A hoop-jumping, and Biden's scrap. charges crackdown. Trump is anticipated to quickly install. industry-friendly Republican politicians at the monetary regulators. But. those gains may be balanced out if Trump follows through on tax and. trade policies that will widen the deficit and fuel inflation,. in turn boosting loaning rates. That could press existing loans. into the red, state experts.
ANTITRUST AND TECH. Trump may walk back the Department of Justice's quote to separate. Alphabet's Google and choose settling with companies over. competitors problems in mergers, instead of brand-new trials, attorneys. stated. The country's difficult, top merger police, Federal Trade. Commission Chair Lina Khan, is likely headed for the. door. More broadly, Trump's backers in Silicon Valley, including. financiers Peter Thiel and Marc Andreessen and Tesla chief Elon. Musk, desire less regulation of new innovation, from synthetic. intelligence to rockets. They have a champion in previous endeavor. capitalist Vance.
MEDIA: SEE WHAT YOU STATE. Washington Post owner Jeff Bezos chose days before the vote. that the paper would not endorse anybody for president,. explaining it as a principled relocate to regain reliability. Hundreds of thousands of subscribers left, lots of stating it was. political cowardice. USA Today and the LA Times also decreased to. endorse a candidate. The message is pretty clear today,. stated former FCC Chairman Tom Wheeler. That is conceding to the. autocrat in advance before you're asked to, said New York. University School of Specialist Research studies accessory associate. professor Helio Fred Garcia, an author of 2 books about Trump.
During the campaign, Trump called on the Federal. Communications Commission to remove ABC and CBS of their. broadcast licenses. FCC Chair Jessica Rosenworcel has denounced. Trump's calls to revoke licenses for broadcast stations, mentioning. totally free speech protections. However the self-reliance of the FCC could. be at danger if Trump follows through on a campaign pledge to. bring regulatory firms, such as the FCC, under presidential. authority, Wheeler stated. The president also could invoke his. emergency situation powers under the Communications Act to exert control. over broadcasters, citing national security concerns.
Even so, a new Trump presidency will likely give cable television. news networks like CNN, Fox News and MSNBC and news outlets. consisting of the New york city Times and Washington Post the exact same huge. jolt to audiences and audience that his first term generated.
PHARMACEUTICALS. Trump just recently said he would let former presidential candidate. and anti-vaccine supporter Robert F. Kennedy Jr. go wild on. vaccine and healthcare policy. Kennedy has said that Trump. guaranteed him manage over the FDA, CDC, HHS, and the USDA. Those. tasks could potentially give him manage over what vaccines are. authorized and whether Americans are recommended to get them. Trump transition co-chair Howard Lutnick has said Kennedy is not. going to be put in charge of the Department of Health and Human. Providers, however recommended he might encourage on vaccines.
Jeremy Levin, CEO of biotech company Ovid Therapies. and previous chairman of biotech lobby group BIO, said he. would be alarmed if Kennedy was offered oversight over vaccines,. which other executives had actually likewise expressed issue. Vaccine. denialism, which is a main plank of RFK's, is maybe as. hazardous as anything you can think of, he said, including that. President Trump's previous visits for the COVID vaccine. effort and the FDA suggest to him that more moderate positions. will win out. Some executives likewise were worried that Kennedy's. impact might damage the U.S.'s track record and ability to examine. new drugs.
(source: Reuters)