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French President Emmanuel Macron delivers a speech during the annual French ambassadors conference. Photo: Yoan Valat/AFP/Getty Images

French asset managers and insurers pledged €5 billion for investment in local tech companies, as announced by President Macron before a dinner in Paris for VC and sovereign wealth fund managers.

Why it matters: This is France making a power play for foreign investment, at a time when leading European tech hub London is potentially vulnerable due to the Brexit chaos.

The bottom line: "France has directed billions in tax breaks and subsidies to domestic startups. But many have struggled to grow because they lack the financing Silicon Valley firms receive from VC funds and other investors, which often push them to scale up before going public. Successful French startups, by contrast, typically find a foreign buyer or relocate to the U.S. to list on Nasdaq," writes the Wall Street Journal's Noemie Bisserbe.

Go deeper: Trump administration probes French tax plan on Big Tech

Go deeper

Journalism enters dangerous new era

Illustration: Brendan Lynch/Axios

The Capitol attack on Jan. 6 resulted in at least nine physical assaults against journalists and at least five arrests, per the U.S. Press Freedom Tracker's top editor.

Why it matters: President Trump's harsh rhetoric towards the press has empowered leaders abroad and locally in the U.S. to continue to attack press that they don't like.

Ben Geman, author of Generate
1 hour ago - Politics & Policy

The beginning of the beginning for Biden's climate push

Illustration: Annelise Capossela/Axios

Joe Biden's inauguration and the days right after will bring a rat-tat-tat burst of climate policy moves, but keep this in mind amid the splashy pledges: pushing through most of his agenda will be a long, uncertain slog.

Why it matters: Biden's climate plan is far more expansive than anything contemplated under President Obama. But for all the immediate pledges, it will take years to see how far Biden gets.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

Biden's inflation danger

Illustration: Sarah Grillo/Axios

President-elect Joe Biden's $1.9 trillion stimulus proposal has economists and bullish market analysts revising their U.S. growth expectations higher, predicting a reflation of the economy in 2021 and possibly more booming returns for risk assets.

Yes, but: Others are warning that what's expected to be reflation could actually show up as inflation, a much less welcome phenomenon.