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☆ What's more important? AI or the election.
▼ + stars: | 2024-04-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're announcing the finalists for our business, tech, and innovation bracket. What's on deck:This story is available exclusively to Business Insider subscribers. If you're just catching up, a few weeks ago we identified eight of the biggest trends in business, tech, and innovation. And then there were two: the AI race vs the US presidential election. Dan Rosen, founder and partner, Commerce Ventures:Advertisement"As a fintech investor, AI strikes me as more important.

Persons: —, we're, Chelsea Jia Feng, Readers, Bruce K, Lee, Dan Rosen, Ira Allen, Tracy Albert, Wendy Craft, Elle, Dodd, Frank, Zach Blank, Nick DiGiovanni, Adam Jeffery, Ian MacNicol, David Einhorn, Jesse Cohn, Greg Coffey, Goldman Sachs, Brian Robinson, Nelson Peltz's, James Park, would've, Justin Sullivan, Marissa Mayer's, Enrique Munoz Torres, Elon Musk, Musk, Lukas Schulze, it's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Keebeck Wealth, Commerce Ventures, CNBC, NBCU, Getty, Elliott Management, Sohn, Street Journal, Disney, UCLA, Yahoo, LinkedIn, Elon, Apple, Ford, Workers, Advertising Research, NCAA Locations: Europe, California, New York, London

☆ Is There Something Radical About Painting Flowers?
▼ + stars: | 2024-02-28 | by ( Amanda Fortini | ) www.nytimes.com time to read: +1 min

IN EARLY 2021, Jordan Casteel, the painter known for her tender, exquisitely detailed oil portraits of Black men and other people of color in and around her Harlem community, made two unexpected moves. First, she relocated from New York City to a rural part of the Catskills, a far less populous place where she barely knew anyone. The second move, this one artistic but no less momentous, was that Casteel, 35, began painting pictures of flowers. While mulling over this predicament, she was spending hours tending her garden, a pastime that felt as generative to her as her art. At one point, she says, her husband, the photographer David Schulze, asked, “Why don’t you make a painting of the garden?” She resisted: “Nope.

Persons: Jordan Casteel, Black, Casteel, “, David Schulze, ” Locations: Harlem, New York City

☆ A leading scientist says you can skip the memory supplements. Protein is where it's at.
▼ + stars: | 2024-02-22 | by ( Hilary Brueck | ) www.businessinsider.com time to read: +3 min

A leading food and drug chemist says most memory supplements are likely bogus. But getting enough protein, from plant sources like nuts, beans, and whole grains can help. There are hundreds of supplements out there promising to "boost" your brain health or perform a "miracle" for your mind. Science shows plant proteins and mixed berries are great for aging brainsSandy Schulze/APSchwartz looks to the long-term Nurses Health Study for better evidence. It's a landmark public health study that has been running in the US since 1976.

Persons: Joseph Schwartz, It's, Sandy Schulze, Schwartz, munch Organizations: Science, Society, McGill University, Health, Nurses Health

☆ A renowned market bear who called the dot-com bubble warns concentration in tech stocks now exceeds levels seen just before the 2000 crash — and cautions that the sector's earnings are not keeping up
▼ + stars: | 2024-02-17 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

For example, the tech sector’s valuations are generally lower than they were then, though still elevated. One is that the fundamentals of the tech sector are detached from its price action. While the sector’s earnings have performed better than the rest of the market on average, earnings expectations have been rising faster than actual subsequent earnings performance. Many parallels between the dot-com bubble and today’s market have been called to light in recent weeks. Only time will tell if tech stocks are in a bubble that's due to burst.

Persons: Albert Edwards, “, ” Edwards, Edwards, Michael Hartnett, Jeffrey Schulze, Adam Karr, ”, Quincy Krosby, Hartnett Organizations: Societe Generale, Nasdaq, Business, Generale, Bank of America, Orbis Investment Management, Artificial Intelligence, LPL Financial Locations: Japan

☆ Here are 3 ways the labor market is showing concerning deterioration underneath strong headline numbers — meaning a recession and stock-market sell-off could sneak up on investors
▼ + stars: | 2024-02-03 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Read previewThe labor market smashed expectations in January, adding 353,000 new jobs, far above economist forecasts of 187,000. Despite the strong headline number, however, there are signs that the job market is deteriorating beneath the surface. For one, the Bureau of Labor Statistics' household survey is showing some divergence from its payroll survey. "High labor and credit costs are beginning to materially impact corporate profits, which impacts both the labor market and (eventually) the default rate." Still, while there are signs of weakening, there are also signs of improvement in the labor market.

Persons: —, Jeff Schulze, today's, Shulze, Louis Fed, Lance Roberts, Ian Shepherdson, Lauren Goodwin Organizations: Service, Federal Reserve, Business, of Labor Statistics, BLS, of Labor, ClearBridge Investments, RIA Advisors, National Federation of Independent Business, Pantheon, Bank of America's Global, New York Life Investments, ClearBridge

☆ Top business leaders bemoan archaic systems in Europe that are curbing climate solutions
▼ + stars: | 2024-01-26 | by ( Vicky Mckeever | ) www.cnbc.com time to read: +2 min

Ester Baiget, the CEO of biosolutions firm Novozymes, said that "roadblocks" usually stand in the way of companies producing sustainable solutions which needed to be removed. watch nowMicrobes have been put forward as an alternative to reduce the use of chemical fertilizers, which contribute to greenhouse gas emissions. However, new microbial fertilizers need to go through regulatory approval before going to market. We need to rethink regulation in regions like Europe." Kadri also said there was a "lack of competitiveness in Europe," referring to the difficulties faced by her sector.

Persons: Lukas Schulze, Ester Baiget, Novozymes, Baiget, Steve Sedgwick, Ilham Kadri, Kadri Organizations: Getty, CNBC, Economic Locations: Bergheim, Germany, Davos, Switzerland, Europe

☆ These 7 recession indicators are still glaring bright red, signaling a sharp downturn could be imminent despite surging GDP and low unemployment
▼ + stars: | 2024-01-26 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Combine that with a steady pace of monthly job gains, a historically-low unemployment rate of 3.7%, and inflation under 4%, and it looks like a soft landing is in view. But according to a list of recession indicators from ClearBridge Investments, a downturn is still likely in the months ahead. The Conference BoardThen there's wage growth, which is also declining at a pace typically seen in recessionary environments. On a three-month moving average basis, median wage growth has fallen to 5.2% in December 2023 from 6.7% in August 2022. With the economy holding strong in recent months, consensus has swung heavily back in favor of a soft landing.

Persons: Jeff Schulze, Schulze, Louis Fed, Louis, That's Organizations: Business, ClearBridge Investments, Fourth, Institute for Supply Management, Federal Reserve, Treasury, Louis Fed

☆ Ukraine got the top tanks it wanted from the West, but they're not yet changing the game
▼ + stars: | 2023-11-25 | by ( Chris Panella | ) www.businessinsider.com time to read: +10 min

Ukraine got the Leopard, Challenger, and Abrams tanks it asked its Western partners for. It's up to Ukraine to either use the tanks to defend against Russian offensives or preserve them for next spring, experts told Business Insider. AdvertisementNow, almost two years into the war, Ukraine has a force of advanced Western tanks at its disposal. Advertisement"These Western type of tanks are qualitatively superior to even the best Russian tanks that the Russians are using in Ukraine," Gentile told Business Insider. There are also questions of whether or not these will be the only Western tanks Ukraine gets, or if there are more in the pipeline.

Persons: Abrams, —, Seth G, Jones, Harold Brown, There's, Gian Gentile, RAND's, Austin Berner Ukraine, M1 Abrams, Gentile, Iraq's, DANIEL LEAL, hasn't, it's, Philipp Schulze, there's, they're Organizations: Russian, Service, Leopards, Transnational, Center for Strategic, International Studies, RAND's Arroyo Center, US Army, Army Staff, Challenger, M1, Soviet, Defense, Ministry of Defence, Getty, Business, Bundeswehr, Ukraine Locations: Ukraine, Ukrainian, Fort Benning, Ga, Soviet, Russia, Soviet Union, England, Zaporizhzhia, Azov, Crimea, Avdiivka, Russian, Lower Saxony, Bergen

☆ German court ruling could cost Intel billions of euros in subsidies - state minister
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsBERLIN, Nov 22 (Reuters) - The negative court ruling on German finances last week could cost Intel billions of euros in subsidies for planned chip-making plants in the state of Saxony-Anhalt, the state economy minister was quoted as saying by magazine WirtschaftsWoche. Berlin had agreed subsidies worth nearly 10 billion euros with the U.S. chipmaker, a person familiar with the matter had told Reuters when Intel announced its plans. "When Germany cannot afford such future projects like Intel anymore, then the economic damage will be enormous and the image damage gigantic," Sven Schulze, economy minister of Saxony-Anhalt was quoted as saying. Reporting by Matthias Williams; Writing by Sarah Marsh; Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Sven Schulze, Matthias Williams, Sarah Marsh, Madeline Chambers Organizations: REUTERS, Rights, U.S, Reuters, Intel, Thomson Locations: Saxony, Anhalt, Berlin, Germany

☆ Unions in Sweden Expand Blockade Against Tesla
▼ + stars: | 2023-11-17 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +3 min

Tesla does not produce any vehicles in Sweden, but runs several facilities where the cars are serviced. So far this year, the Tesla Model Y is the best-selling new car in Sweden, with more than 14,000 registrations through October, according to Mobility Sweden, an industry group. Unions representing cleaners have also refused to service Tesla facilities, and the postal workers’ union stopped any deliveries from reaching the company’s sites. Both IF Metall and the Transport Workers’ Union have acknowledged that Tesla has found ways around the strikes. Tesla appeared to be bringing in other mechanics to staff its facilities and bringing new vehicles into Sweden by truck, they said.

Persons: Tesla, ’, Dockworkers, ” Dirk Schulze, ” Mr, Schulze, IF Metall Organizations: Tesla, Mobility Sweden, Swedish Transport Workers ’ Union, IF Metall, Transport Workers ’ Union, IG Metall, Metall, IF, Hydro Extrusions Locations: Sweden, Swedish, Sweden’s, Germany, Berlin, Brandenburg

☆ Confessions of a startup founder's wife
▼ + stars: | 2023-11-15 | by ( Melia Russell | ) www.businessinsider.com time to read: +20 min

I wished I had told Kyle that I would understand if he wanted to quit. That's as apt a description of Kyle's startup as it is of our relationship. I'm not sure Kyle has found as many perks to being a startup founder married to a startup reporter. Now Kyle's startup has pivoted a third time. The truth is, I don't know if Kyle's startup will make it.

Persons: Kyle, Kyle shrugged, pang, I'd, hadn't, Scott Belsky, It's, messier, I've, he'd, Jillian, Chris Dixon, Andreessen Horowitz, Jeff Bezos, MacKenzie Scott, Schulze, TikTok, Josh Cochran, Marc Andreessen, I'm, He'd, Eric Paley, Steve Jobs, —, Playbyte, he's, Rohan Seth, Paul Davison, Steve Huffman, hasn't, Instagram, it's, Zelda, That's, cradling, Melia Russell Organizations: Apple Watch, Steam, Francisco's Mission, University of California, TechCrunch, White House, YouTube, Labor Locations: Champagne, Francisco's, Berkeley, San Francisco, New York, America, Playbyte, Kyle, Boston, Bay, sobs

☆ World Bank governors endorse 'liveable planet' vision - German minister
▼ + stars: | 2023-10-12 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

MARRAKECH, Morocco, Oct 12 (Reuters) - World Bank shareholders on Thursday endorsed further reforms and a new vision statement committing the multilateral development bank to work for "a world free of poverty on a liveable planet," German Development Minister Svenja Schulze said. "With the reform, we will make the World Bank into a better bank that uses its funds in a more targeted way," she said. "The World Bank will be able to provide more funds for poverty reduction and climate action." The World Bank would begin piloting this option for small states that are particularly affected by climate change, she said. Schulze said the bank's shareholders would push on to enact reforms and improvements at other development banks.

Persons: Svenja Schulze, Schulze, Ajay Banga, Banga, Andrea Shalal, Andrew Cawthorne, Jan Harvey, Mark Porter Organizations: World Bank, IMF, International Monetary Fund, Bank, MasterCard, Thomson Locations: MARRAKECH, Morocco, United States, Germany, France, Canada, Netherlands

Companies Tesla Inc FollowGRUENHEIDE, Germany, Oct 9 (Reuters) - Tesla (TSLA.O) workers at the carmaker's Brandenburg plant are joining the IG Metall union in rising numbers over concerns around health, safety and overwork, the union said on Monday. Reuters was not able to independently verify the union's claims and Tesla did not immediately respond to a request for comment. Union representatives met workers at the factory gates, on the platforms of nearby stations and inside the factory on Monday handing out stickers stating "Together for safe and fair work at Tesla". "The law gives all workers the right to organise in a union and stand openly for that at their workplace. That counts at Tesla in Brandenburg as well," Dirk Schulze of IG Metall said.

Persons: Tesla, IG, Dirk Schulze, IG Metall, Victoria Waldersee, Sharon Singleton Organizations: Tesla, IG, Reuters, IG Metall, Thomson Locations: Germany, carmaker's Brandenburg, Brandenburg, Poland

Queries about what the move entailed and how extensive its impact on Palestinian aid would be weren't immediately answered. According to the bloc, it has provided humanitarian aid to help meet Palestinians’ basic needs since 2000 through the European Commission’s humanitarian aid department (ECHO) and the U.N. Office for the Coordination of Humanitarian Affairs (OCHA). Since 2000, ECHO has provided 700 million euros of humanitarian aid to Palestinians in the Gaza Strip and the West Bank. The EU’s most populous member, Germany, and its neighbor Austria, also said they were suspending development aid for the Palestinian areas. Germany isn't suspending the humanitarian aid it provides separately via international nongovernmental organizations and the U.N., the Foreign Ministry said.

Persons: “, ”, Oliver Varhelyi, Israel, Varhelyi, weren't, ” Varhelyi, Svenja Schulze, Schulze, Israel “, Germany isn't, Christian Wagner, Alexander Schallenberg, ___ Samuel Petrequin, Geir Moulson Organizations: European Union, EU, European Commission, Palestine Liberation Organization, Humanitarian Affairs, West Bank, Ministry, Palestinian Authority, UNRWA, Development, Foreign Ministry Locations: BRUSSELS, Israel, Germany, Austria, Oslo, Muscat , Oman, Gaza, Berlin, Austrian, Brussels

Germany and Austria earlier on Monday said they were suspending bilateral development aid to Palestinians, while others such as Italy had said suspending aid was not up for discussion. It is unclear whether the suspensions in development aid will also apply to such assistance. Varhelyi said all new budget proposals for Palestinian aid were also postponed until further notice. The Israeli flag has been hoisted above the chancellor's office and the Foreign Ministry after the shock Hamas assault. Asked if Italy would follow Germany and Austria in suspending development aid, the foreign ministry spokesperson said this was not under discussion.

Persons: Amir Cohen, Oliver Varhelyi, Varhelyi, Mahmoud Abbas, Fatah, Alexander Schallenberg, Svenja Schulze, Rishi Sunak, Andrew Gray, Francois Murphy, Sarah Marsh, Markus Wacket, Angela Amante, Kate Holton, Mark Heinrich, Alison Williams, Nick Macfie Organizations: REUTERS, BRUSSELS, European, United Nations, Union, EU, EU Commission, West Bank, Palestinian Authority, Austrian, European Union, Foreign Ministry, Social Democrats, Greens, Thomson Locations: Gaza, Ashkelon, Israel, Germany, Austria, Italy, BERLIN, Europe, West, Berlin, Palestinian, Berlin's, Brandenburg, United Nations, Britain, Brussels, Vienna, Rome, London

☆ Germany mulls possible aid suspension to Palestinians after Hamas attack
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +2 min

Israel supporters protest, following Hamas' biggest attack on Israel in years, next to the Brandenburg Gate, in Berlin, Germany, October 8, 2023. "We will now review our entire engagement for the Palestinian territories." But pushback came from the opposition Left party and the Greens, junior partner in the federal coalition. Hamas, and not all Palestinians, were responsible for the attack, said Gregor Gysi, a prominent member of the Left party. "These funds above all gave suffering people in the Palestinian territories access to food provisions and health care."

Persons: Israel, Liesa, Svenja Schulze, Armin Laschet, Mahmoud Abbas, pushback, Gregor Gysi, Luise Amtsberg, Markus Wacket, Sarah Marsh, Ros Russell, Bernadette Baum Organizations: REUTERS, Rights, Palestinian, Hamas, . Development, Social Democrats, West Bank, Left, Greens, Palestinian Authority, United Nations, Thomson Locations: Israel, Brandenburg, Berlin, Germany, Palestinian, Europe

☆ Germany's KfW bank will no longer grant promotional loans to China from 2026
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ralph Orlowski/File photo Acquire Licensing RightsFRANKFURT/BERLIN, Sept 26 (Reuters) - Germany will no longer grant promotional loans to China from 2026, the Federal Development Ministry (BMZ) confirmed on Tuesday, in the latest measure to reduce Germany's strategic dependence on China. The German ministry informed the Chinese Ministry of Finance in mid-September of the federal government's decision to permanently stop granting promotional loans to China. Contracts for promotional loan projects between German state-owned KfW Bank and the Chinese Ministry of Finance can only be signed up to and including 2025. "These promotional loan projects must have ambitious impacts in the areas of climate and environment," the ministry said. From 2013 to 2022, promotional loans with a total volume of 3.451 billion euros were agreed with China.

Persons: Ralph Orlowski, Svenja Schulze, Andreas Rinke, Emma, Victoria Farr, Leslie Adler Organizations: KfW, REUTERS, Federal Development Ministry, Chinese Ministry of Finance, KfW Bank, Reuters, Thomson Locations: Frankfurt, Germany, FRANKFURT, BERLIN, China

☆ Arm IPO: Should you buy shares? Here's what 4 analysts are saying
▼ + stars: | 2023-09-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

China risks Analysts have also noted Arm's limited control over its China joint venture, Arm China, which contributes 24% of revenue. "Plus, Arm can only sell to China customers via the Arm China channel, and they can offer competing product. With no direct stake in Arm China, they currently have very little control over their only means to sell in China." Valuation Analysts at New Constructs have also challenged Arm's valuation. Growth Analysts at Bernstein were also cautious, while expecting cloud, automotive, and mobile royalties to drive healthy top-line growth for Arm.

Persons: Rohit Kulkarni, Roth, SoftBank, Bernstein, Sara Russo, Russo, it's, Timm Schulze, Schulze, Melander, — CNBC's Michael Bloom Organizations: Apple, Nvidia, SoftBank Locations: British, New York, SoftBank, China, Arm China

☆ Even as the labor market softens the Fed won't be pivoting anytime soon, says Clearbridge's Schulze
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEven as the labor market softens the Fed won't be pivoting anytime soon, says Clearbridge's SchulzeMimi Duff, GenTrust managing director and Jeff Schulze, Clearbridge Investments chief investment strategist join 'Closing Bell Overtime' to talk the day's market action and what's ahead for the U.S. economy.

Persons: Clearbridge's Schulze Mimi Duff, GenTrust, Jeff Schulze Organizations: Clearbridge Investments Locations: U.S

☆ German union calls for better staffing at Tesla plant amid expansion plans
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

FRANKFURT, July 17 (Reuters) - Germany's top union IG Metall on Monday called for Tesla to improve staffing conditions at its German gigafactory as it prepares to expand, with the carmaker due to publish its expansion plans for feedback from the community later this week. The expansion plans will entail adding more jobs to the 12,000 planned for the first expansion phase of Tesla's first European product hub, of which roughly 11,000 have been hired so far. Tesla's plans are a clear commitment to Brandenburg as a location," IG Metall's Dirk Schulze said. "Before the expansion of the plant, the expansion of the working conditions of the colleagues in Gruenheide must now finally have priority." Reporting by Christoph Steitz and Victoria Waldersee; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Tesla's, Dirk Schulze, Schulze, Tesla, Christoph Steitz, Victoria, David Evans Organizations: Metall, Tesla, Brandenburg, Citizens, Thomson Locations: FRANKFURT, Germany, Brandenburg, Gruenheide

☆ Stocks gain, dollar stumbles as US averts default and Fed skip bets rise
▼ + stars: | 2023-06-02 | by ( Alun John | ) www.reuters.com time to read: +5 min

Markets are now focused on U.S. jobs data due at 0830 EST (1230 GMT), the most significant macroeconomic release of the week, for more cues on the Federal Reserve's rate hike path. European mining stocks (.SXPP) increased 4.4%, boosted by a Bloomberg report China is working on new measures to support its property market. Copper prices were heading for their first weekly gain since April with other metals trading higher too. Spot gold was up marginally at $1,979 an ounce, but set for its biggest weekly gain in nearly two months, as a softer dollar and lower yields bolstered the bullion's appeal. Reporting by Ankur Banerjee; Editing by Lincoln Feast, Kim Coghill, Sriraj Kalluvila and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid LONDON, Jefferson, Jeff Schulze, payrolls, Philip Jefferson, Joe Biden, Phil Shucksmith, We've, Brent, Ankur Banerjee, Lincoln, Kim Coghill, Sriraj Kalluvila, Andrew Heavens Organizations: New York Stock Exchange, REUTERS, U.S, Labor, U.S . Senate, Bloomberg, Asia Pacific, Japan's Nikkei, Nasdaq, Senate, Newton Investment, Investors, U.S . Treasury, European Central Bank, ECB, Thomson Locations: New York City, U.S, China, Japan

☆ Dutch watchdog looking into alleged Tesla data breach
▼ + stars: | 2023-05-26 | by ( ) edition.cnn.com time to read: +3 min

Reuters —The data protection watchdog for the Netherlands said on Friday it was aware of possible Tesla data protection breaches, but it was too early for further comment. Germany’s Handelsblatt reported on Thursday that Elon Musk’s Tesla had allegedly failed to adequately protect data from customers, employees and business partners, citing 100 gigabytes of confidential data leaked by a whistleblower. Handelsblatt said Tesla notified the Dutch authorities about the breach, but the AP spokesperson said they were not aware if the company had made any representations to the agency. Tesla was not immediately available for comment on Friday on the Handelsblatt report, which said customer data could be found “in abundance” in a data set labelled “Tesla Files”. The data protection office in Brandenburg, which is home to Tesla’s European gigafactory, described the data leak as “massive”.

Prospects for lab-grown meat to land on American dinner plates got a boost last fall when the Food and Drug Administration for the first time declared cultivated chicken, grown by Upside Foods, safe to eat. “It’s nearly time to eat cultivated meat,” Eric Schulze, Upside’s vice president of global scientific and regulatory affairs, said on Twitter as the company toasted the milestone with Champagne emojis. “Our Upside chicken is coming to consumers very soon.”

"I think that we have a very good candidate for the World Bank," French Finance Minister Bruno Le Maire said of Banga during a news conference at the G20 finance leaders meeting in India. The comments marked a turnabout from Tuesday, when Germany's international development minister, Svenja Schulze, who represents a different party in Germany's coalition government, said the next World Bank chief should be a woman. The G20 ministers meeting is being held on the outskirts of the Indian tech hub city of Bengaluru. 'UNIQUE SET OF SKILLS'The United States, the lender's dominant shareholder, has chosen every World Bank president since the founding of the institution at the end of World War Two. World Bank staff are bracing for Banga to make some management changes at the bank, emboldened by Yellen's repeated calls for "bolder and more imaginative" action by the bank, two bank sources told Reuters.

☆ German minister: Next World Bank boss should be a woman
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 21 (Reuters) - The next World Bank president should be a woman, Germany's international development minister told Reuters in remarks that could strengthen the potential candidacy of Ngozi Okonjo-Iweala, the American-Nigerian head of the World Trade Organization. "As Germany's World Bank governor I say: 'It is time for a woman at the head of the World Bank'," she said on Tuesday. "The World Bank must be a pioneer in fighting poverty and global crises like climate change, biodiversity loss and pandemics." By convention, the World Bank president is a U.S. citizen. Okonjo-Iweala, who holds dual U.S.-Nigerian citizenship, earlier worked at the World Bank.

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