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☆ Bertie Bowman ran away from home at 13 to sweep the steps of Capitol Hill. He died at 92 as the the longest-serving African-American Congressional staffer.
▼ + stars: | 2023-10-25 | by ( Yoonji Han | ) www.businessinsider.com time to read: +6 min

Herbert "Bertie" Bowman was the longest-serving African-American staffer on Capitol Hill in US history. AdvertisementAdvertisementBertie Bowman, the longest-serving African-American staffer on Capitol Hill in history, died at 92 years old on Wednesday morning. Sen. John Kerry hugs Bowman after his confirmation hearing before the Senate Foreign Relations Committee for Secretary of State on January 24, 2013. AdvertisementAdvertisementBowman escorts Hillary Clinton at a hearing before the Senate Foreign Relations Committee on March 2, 2011. Bowman had continued to work in the Capitol until his death, becoming the longest-serving African-American congressional staffer in US history.

Persons: Herbert, Bertie, Bowman, —, Bertie Bowman, Andrew Desiderio, Sen, Ben Cardin, Burnet Maybank, Maybank, Chris Dodd, Tom Williams, I'd, talkshow, Tavis Smiley, Lyndon Johnson, Strom Thurmond, John Kerry, Ken Cedeno, Jesse Helms of, J, William Fulbright of, Bill Clinton, Elvis, Clinton, Chip Somodevilla, he'd, Hillary Clinton, Alex Wong, Helms Organizations: Capitol, Senate, Service, Punchbowl News, Foreign, Station, Senate Foreign, State, William Fulbright of Arkansas, US, Foreign Relations, Washingtonian, Military Force, Islamic Locations: Washington , DC, Ben Cardin of Maryland, Summerton, South Carolina, Washington ,, Washington, Jesse Helms of North Carolina, Vietnam, Islamic State

☆ Patience Haggin — Reporter at The Wall Street Journal
▼ + stars: | 2023-10-23 | by ( Patience Haggin | ) www.wsj.com time to read: 1 min

Patience HagginPatience Haggin is a reporter covering digital advertising and broadband in The Wall Street Journal's media bureau in New York. She writes frequently on privacy, political advertising and competition. She was part of a team that won the Gerald Loeb Award for Beat Reporting for the investigative series "Amazon's Abuses" in 2021. Patience previously covered venture capital and startups in the Journal's San Francisco bureau. She began her career at the legal affairs newspaper The Recorder in San Francisco.

Persons: Patience Haggin Patience Haggin, Gerald Loeb, Patience Organizations: Princeton University Locations: New York, San Francisco

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsSummary Industrial output down 0.2% in Aug vs down 0.1% forecastEconomists expect further contraction in coming monthsBERLIN, Oct 9 (Reuters) - German industrial output shrank in August for the fourth consecutive month, the federal statistics office said on Monday, an indication that the sector remains under serious pressure, stoking recession fears. Industrial production fell slightly more than expected in August by 0.2% compared to the previous month. The further drop in German industrial production in August was better than it looked as it was driven by volatile components, said Franziska Palmas, senior Europe economist at Capital Economics. However, she continued to expect high interest rates and falling demand to lead to a further contraction in German industrial output in the coming months. "Thin order books despite last week's increase, and high inventories all indicate that German industrial production will continue moving sideways rather than gaining momentum anytime soon," ING's global head of macro Carsten Brzeski said.

Persons: Wolfgang Rattay, Franziska Palmas, Destatis, Carsten Brzeski, Brzeski, Friederike Heine, Maria Martinez, Ozan Ergenay, Gerry Doyle, Sonali Paul Organizations: REUTERS, Reuters, Capital Economics, Thomson Locations: ThyssenKrupp, Duisburg, Germany, BERLIN, Europe, Palmas

REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsBERLIN, Oct 5 (Reuters) - German industrial orders rose more than expected in August due to a strong increase in the manufacture of computer, electronic and optical products sector, data showed On Friday. Orders rose by 3.9% on the previous month on a seasonally and calendar adjusted basis, the federal statistics office said. The statistics office revised the July drop to 11.3% compared with June, from a provisional figure of -11.7%. In August, an increase of 37.9% on the month in the manufacture of computer, electronic and optical products drove the expansion in industrial orders. Foreign orders were up 3.9% on the month and domestic orders rose by 4.0%, the data showed.

Persons: Wolfgang Rattay, Rachel More, Maria Martinez, Kirsti Knolle, Christina Fincher Organizations: REUTERS, Rights, Thomson Locations: Duisburg, Germany

"The figures reinforce the view that interest rates have likely reached their peak in the current tightening cycle." The inflation drop was broad-based, with all price categories growing at a slower pace and energy prices falling outright for a fifth consecutive month. Euro zone inflation briefly hit double digit last autumn amid a combination of soaring energy costs, post-pandemic snags in supply chains and high government spending. So far, the ECB is sticking to its expectations of an economic rebound next year, partly thanks to higher real wages as inflation falls. "The rise in interest rates has been much quicker than in previous times so looking to the past as a model may mislead," Schumacher added.

Persons: Diego Iscaro, Dirk Schumacher, Schumacher, Francesco Canepa, Toby Chopra Organizations: Central, ECB, P Global Market Intelligence, Thomson Locations: FRANKFURT, Germany, China

LOS ANGELES (AP) — Quincy Jones, who once embarked on an international diplomatic tour with jazz great Dizzy Gillespie, will receive the U.S. Department of State's inaugural Peace Through Music Award. A ceremony honoring the 28-time Grammy winning producer, musician and arranger will be held Wednesday night and as part of the launch of the State Department's new Global Music Diplomacy Initiative. The tour was part of a Cold War program to spotlight American music and culture and counteract similar efforts by the Soviet Union. “You’re going to see a long-standing partnership between the Academy and the State Department,” Mason said in an interview. We have no more powerful tools in our diplomatic toolkit, and I look forward to seeing – and listening to – the results of this initiative.”The Global Music Diplomacy Initiative was developed following the 2022 Promoting Peace, Education, and Cultural Exchange (PEACE) through Music Diplomacy Act.

Persons: — Quincy Jones, Dizzy Gillespie, Jones, Antony Blinken, Harvey Mason, Dave Grohl, Mickey Guyton, Herbie Hancock, Jamie Barton, GAYLE, Christopher Jackson, LADAMA, Aimee Mann, Rakim, Armani White, Gillespie, Michael Jackson’s, Oscar, “ You’re, ” Mason, “, ”, Roosevelt, Bruce Springsteen, “ I’ve, ” Blinken Organizations: ANGELES, U.S . Department, State's, State, Music Diplomacy Initiative, Recording Academy, American, U.S . State Department, State Department, Fulbright, Arts and Science, Academy, Inter, American Affairs, AP, Education, Cultural Exchange, Diplomacy Locations: Southern Europe, South Asia, Soviet Union, East Berlin

☆ In Phoenix, a Classics Teacher Goes on a Home-Buying Odyssey. Which One Did She Choose?
▼ + stars: | 2023-09-21 | by ( Jack Healy | ) www.nytimes.com time to read: +2 min

Sing, o Muse, of the home-buying odyssey of Sarah Bolmarcich, a classics teacher looking to buy her first home with no mortgage in the sun-baked valleys around Phoenix. She started looking for a house in January after the rent on her suburban Phoenix apartment soared 30 percent, to $1,800 a month. “I was really interested in a historic house,” she said. The median year of a house built in Phoenix is 1983. “I’d kept saying to Sarah, ‘Don’t let me look at any historic houses,’” Dr. Bolmarcich said.

Persons: Sarah Bolmarcich, Homer, Bolmarcich, “, ”, Dr, Sarah Jean Richetto, Max Fine, Gilbert, “ I’d, Sarah, ‘ Don’t, ’, Bolmacich, Richetto Organizations: Arizona State University, Arizona State, Max Fine Properties, Ahwatukee Foothills Locations: Phoenix, Athens, Philadelphia, Peloponnese, Tempe, Arizona, Chandler

EU fiscal rules underpin the value of the euro used by 20 countries and set a limit on budget deficits of 3% of GDP and a public debt limit of 60% of GDP. However, most EU countries exceed these limits as two years of the COVID-19 pandemic and the energy price crisis have both required massive government spending. The main clash is between Germany, which wants annual debt reduction benchmarks that are the same for all, and France, which believes individually negotiated debt reduction paths are the way to go and that one-size-fits-all policies do not work. She said 70% of the text of the new rules has been agreed in technical work over the summer. Reporting by Maria Martinez, Belen Carreno and Jan Strupczewski, writing by Jan Strupczewski; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Valdis Dombrovskis, Dombrovskis, James, Nadia Calvino, Calvino, Maria Martinez, Belen Carreno, Jan Strupczewski, Jason Neely Organizations: SANTIAGO DE, Union, Saturday, Spanish, Thomson Locations: SANTIAGO, SANTIAGO DE COMPOSTELA, Spain, Spanish, Santiago, Santiago de Compostela, Germany, France, Ukraine

☆ Apple, Amazon, and Meta among 6 tech giants deemed 'gatekeepers' set to face strict competition rules under new EU law
▼ + stars: | 2023-09-06 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

The European Union named six tech giants as "gatekeepers" that have to comply with new laws. The Digital Markets Act aims to give more choice to users and open up the market for competitors. A TikTok spokesperson said the company "fundamentally disagrees" with the designation. The six tech giants have six months to comply with the EU's Digital Markets Act (DMA), which aims at improving competition in the tech sector. In a statement shared with Insider, a TikTok spokesperson said: "We support the DMA's goal of creating a competitive playing field in Europe but fundamentally disagree with this decision."

Persons: Thierry Breton, Miranda Cole, Norton Rose Fulbright Organizations: European Union, Service, Apple, Meta, Microsoft, EU's, Google, Norton Rose, EU, European Commission Locations: Wall, Silicon, Europe

BERLIN, Aug 30 (Reuters) - German inflation fell slightly in August but was still higher than forecast, data showed on Wednesday, as the downward trend since the start of the year slowed. German consumer prices, harmonised to compare with other European Union countries, increased by 6.4% on the year in August, according to preliminary data from the federal statistics office. Analysts polled by Reuters had forecast harmonised annual inflation of 6.3% after a reading of 6.5% in July. Non-harmonised inflation in Germany fell to 6.1% in August from 6.2% the previous month. Germany's core inflation rate, which excludes volatile items such as food and energy, stood at 5.5% in August, unchanged from July.

Persons: Rachel More, Friederike Heine Our Organizations: Union, Reuters, European Central Bank, Thomson Locations: Germany

REUTERS/Lisi Niesner Acquire Licensing RightsMESEBERG, Germany, Aug 29 (Reuters) - Germany's coalition on Tuesday set aside weeks of squabbling to agree to a total of 32 billion euros ($34.63 billion) in corporate tax cuts over four years to boost the flagging economy. "The German economy can do more." The German economy stagnated in the second quarter, showing no sign of recovery from a winter recession and cementing its position as one of the world's weakest major economies. An agreement was reached on Tuesday when the two sides agreed to cut the planned Child Basic Insurance to just over two billion euros. A government document seen by Reuters showed subsidies are set to almost double to 67.1 billion euros next year compared to 2021.

Persons: Olaf Scholz, Lisi Niesner, Finance Minister Christian Lindner, Lisa Paus, Lindner, Forsa, Scholz, Matthias Williams, Christian Kraemer, Thomas Escritt, Tomasz Janowski, Ed Osmond, Barbara Lewis Organizations: Schloss, REUTERS, Reuters, Finance Minister, Greens Family, Insurance, stoke, Thomson Locations: Schloss Meseberg, Gransee, Germany, Berlin

The Ifo institute said on Friday that its business climate index stood at 85.7, down from 87.4 in July. Reuters Graphics"The German economy is not out of the woods yet," Ifo president Clemens Fuest said. The economy then posted zero growth in the second quarter compared to the previous three months, separate data from the statistics office showed on Friday. The Ifo survey showed sentiment among German managers had become more pessimistic across all sectors in August. The Ifo survey chimed with flash PMI data released on Wednesday, which showed that German business activity contracted at the fastest pace for more than three years in August.

Persons: Annegret, Clemens Fuest, Christian Lindner, Klaus Wohlrabe, Claus Niegsch, Niegsch, Andrew Kenningham, Carsten Brzeski, Maria Martinez, Friederike Heine, Mark Potter, John Stonestreet Organizations: REUTERS, Reuters, . Finance, DZ Bank, Reuters Graphics, Capital Economics, Thomson Locations: Berlin, Germany, BERLIN, Europe

☆ UK markets watchdog ready to pounce as new consumer power comes into force
▼ + stars: | 2023-07-31 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

The new duty is particularly significant for being more granular, requiring "good outcomes" and no "forseeable harm" for customers across products and services, price and value. The duty will help the FCA tackle harms pre-emptively to stop a mis-selling scandal in the first place, she added. Firms will have to demonstrate to the FCA how they are providing good outcomes, a step the watchdog hopes will improve on the low trust in financial services. It says it will help ensure that banks pass on higher interest rates to savers, and provide help to those struggling to pay a mortgage. ($1 = 0.7770 pounds)Reporting by Huw Jones; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Nisha Arora, Arora, Philip Deeks, James's, Jonathan Herbst, Herbst, KPMG's Deeks, Deeks, Huw Jones, Conor Humphries Organizations: Financial, Authority, FCA, Reuters, Norton Rose, Thomson

Summary German inflation falls modestly in JulyStronger declines expected starting in SeptemberCore inflation easesBERLIN, July 28 (Reuters) - German inflation fell in July, resuming the decline since the start of the year that was interrupted the previous month due to the base effects in June's data. Although inflation fell in July, economists called the pace of decline sluggish mainly due to the comparison with last year. By comparison, inflation fell to 5.0% in France and it rose to 2.1% in Spain. Italian and euro zone inflation data is due on Monday. Economists polled by Reuters expect euro zone inflation to fall to 5.2% in July from 5.5% in June.

Persons: Ralph Solveen, Thomas Gitzel, Maria Martinez, Miranda Murray, Rachel More, Sharon Singleton Organizations: Union, Analysts, Reuters, European Central Bank, VP Bank Group, ECB, Thomson Locations: BERLIN, France, Spain, Germany

More than a year later, she was told her application required a key document that was stuck behind enemy lines in Ukraine. "There's always a trade-off between rapid and sustainable labour market integration," said Thomas Liebig, chief economist for the OECD's international migration department. Researchers from Minor, a migration policy think tank, said the large-scale inflow of refugees from Ukraine is seen as a great opportunity in Germany. While the refugees' fate is partly tied to the unknowable course of the Ukraine war, the EU's temporary protection scheme for Ukraine refugees is at present due to expire in March 2024. This puts employers who want to hire refugees in a difficult situation, as they don't know if Ukrainian refugees will be able to stay.

Persons: Maria, Lukas Barth, Svetlana Chuhil, Chuhil, Lauren, Thomas Liebig, Oksana Krotova, Krotova, Ildiko Pallman, Gizem Uensal, Enzo Weber, Jan Lopatka, Catherine Evans Organizations: REUTERS, Reuters Graphics Reuters, Deloitte, Reuters, OECD, United Nations, Minor, German Institute for Employment Research, Thomson Locations: Mykolaiv, Ukraine, Aschheim, Munich, Germany, BERLIN, WARSAW, Poland, Zgorzelec, Goerlitz, Paris, Europe's, Berlin, Kyiv, Prague

Dustin VolzDustin Volz is a Washington-based cybersecurity and intelligence reporter for The Wall Street Journal. Before joining the Journal in 2018, Dustin worked at Reuters and National Journal. In addition to Washington, Dustin has reported from London, Berlin and the Dominican Republic. He is a graduate of Arizona State University's Walter Cronkite School of Journalism and Mass Communication. Prior to starting his journalism career, Dustin spent a year living in Indonesia as a Fulbright teaching assistant.

Persons: Dustin Volz Dustin Volz, Dustin, Gerald Loeb, Robert F, Arizona State University's Walter Organizations: Wall Street, Reuters, National Journal, White, Correspondents ' Association, Society of Publishers, Kennedy Center for Justice, Human, Arizona State, Arizona State University's Walter Cronkite School of Journalism, Communication Locations: Washington, Asia, London, Berlin, Dominican Republic, Indonesia

☆ German inflation bucks downward trend in June with higher-than-expected rise
▼ + stars: | 2023-06-29 | by ( Maria Martinez | Thomson Reuters | Maria Martinez Is A Reuters Correspondent In Berlin Covering German Economics | ) www.reuters.com time to read: +3 min

French and euro zone inflation data is due on Friday. Economists polled by Reuters expect euro zone inflation to fall to 5.6% in June from 6.1% in May. "The June figures in Germany only interrupt the downward trend in the inflation rate and do not mark its end," said Ralph Solveen, senior economist at Commerzbank. Non-harmonized consumer prices rose 6.4% in June year-on-year, following a 6.1% rise in the previous month. The year-on-year rebound in German inflation midway through the second quarter is almost exclusively due to base effects from last year's temporarily-reduced rail fare, said Claus Vistesen, chief eurozone economist at Pantheon Macroeconomics.

Persons: Analysts, Ralph Solveen, year's, Claus Vistesen, Carsten Brzeski, Commerzbank's Solveen, Brzeski, Maria Martinez, Friederike Heine, Miranda Murray, Angus MacSwan, Conor Humphries Organizations: Union, Reuters, Commerzbank, Pantheon, European Central Bank, ING, Economists, ECB, Thomson Locations: BERLIN, Spain, Italy, Germany

LONDON, June 28 (Reuters) - UK law can accommodate crypto assets by creating a new category of personal property that would include digital assets, independent body the Law Commission said on Wednesday. The group also said the government should create a panel of experts to advise courts on legal issues involving digital assets. These steps would support the UK government's aim of becoming a global hub for crypto assets, the Law Commission said in a statement. “The use and importance of digital assets has grown significantly in the last few years," said Sarah Green, law commissioner for commercial and common law. He asked the Law Commission to review whether current laws can accommodate digital assets.

Persons: Sarah Green, Rishi Sunak, Adam Sanitt, Norton Rose Fulbright, Sanitt, Elizabeth Howcroft, Mark Potter Organizations: Commission, Norton Rose, Thomson Locations: England, Wales

If you plan to attend graduate school, it's important to understand the costs up front. As a graduate student, relying on grants, scholarships, and fellowships is better than taking out loans to pay for school. As you gear up for graduate school, it's time to find grants, scholarships, and fellowships to cover the cost. Example comparing school costs with and without grant and scholarship aidPaying for graduate school is often not as simple as finding a single grant to cover the entire cost. Alternative ways to pay for grad schoolGrants and scholarships aren't the only way to pay for school.

Persons: —, Trinity Owen, you'll Organizations: Service, Federal Student Aid, Fulbright, College Board

☆ How Daniel Ellsberg, who died at 92, went from being a disillusioned member of the government-military elite to a hero of anti-war movements
▼ + stars: | 2023-06-17 | by ( Associated Press | ) www.businessinsider.com time to read: +16 min

Daniel Ellsberg, the whistleblower behind the Pentagon Papers, died at 92, his family said Friday. David Halberstam, the late author and Vietnam War correspondent who had known Ellsberg since both were posted overseas, would describe him as no ordinary convert. "Without Nixon's obsession with me, he would have stayed in office," Ellsberg told The Associated Press in 1999. Ellsberg's story was depicted in the 2009 documentary "The Most Dangerous Man in America: Daniel Ellsberg and the Pentagon Papers." He and Marx wedded in 1970, the year before the Pentagon Papers were made public.

Persons: Daniel Ellsberg, Ellsberg, —, — Daniel Ellsberg, Richard Nixon, Julia Pacetti, Dan, Robert S, McNamara, Lyndon Johnson's, John F, Kennedy, David Halberstam, Johnson, Neil Sheehan, Henry Kissinger, Hannah Arendt, Nixon, Nixon fumed, H.R, Haldeman, Matthew Byrne, Gordon Liddy, Howard Hunt, Byrne, Daniel, Harry Truman, nodded, Ellsberg's, Rand, Anthony J, Russo, Robert, Kissinger, Sen, William J, Fulbright, George McGovern of, Marcus Raskin, Ralph Stavins, Sheehan, Raskin, Stavins, didn't, spry, George W, Bush, Obama, Julian Assange, Chelsea Manning, Edward Snowden, Snowden, Patricia Marx, Marx Organizations: Pentagon, Service, Supreme, Defense, Harvard, Democratic, Republican, The New York Times, Washington Post, The Associated Press, National Security, United, U.S, White, Democratic Party's, Washington , D.C, Associated Press, Coast, Rand Corp, Christian Science, Soviet Union overseas, Harvard University, Marines, Ivy League, Defense Department, State Department, Rand, Xerox, Arkansas, Foreign Relations Committee, Institute for Policy, Times, ., Army, New York Times, Massachusetts Institute, Technology's Center for International Studies Locations: Boston, Los Angeles, Vietnam, Indochina, U.S, France's, America, United States, Beverly Hills , California, Washington ,, Saigon, Santa Monica, Chicago, Detroit, Pearl, London, Germany, Japan, Santa Monica , California, George McGovern of South Dakota, Iraq, Afghanistan, Russia

☆ Japan’s economic scars might blind it to inflation
▼ + stars: | 2023-06-13 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +8 min

Investors worry about market ructions if Ueda hikes rates now but there is another risk: that he waits too long. Reuters GraphicsUeda’s inaction – and the domestic markets’ positive response – have bought him time to focus on evaluating macroeconomic fundamentals, particularly inflation. The country only emerged from a decades-long deflationary rut relatively recently, so local economists, executives and consumers are unused to worrying about consumer prices rising too fast. The government’s latest draft of its long-term economic plan, seen by Reuters on June 2, remains focused on eradicating Japan's “long-held deflationary mindset”. "We expect inflation to quite clearly slow below 2%" toward the middle of the current fiscal year, Ueda told parliament.

Persons: Kazuo Ueda, Haruhiko Kuroda, Ueda, ’, –, Richard Koo, Shinzo Abe, Francesco Guerrera, Katrina Hamlin Organizations: Reuters, Bank of Japan, Nikkei, Nasdaq, Bank for International, Toyota, Toshiba, Black Monday, Japan Inc, International Monetary Fund, of, Thomson Locations: TOKYO, Japan, United States, U.S, Great, China, Europe, Germany, Italy, of Japan’s

BERLIN, June 7 (Reuters) - German industrial output rose less than expected in April, darkening the outlook for the euro zone's largest economy following weak new orders data earlier this week. The statistics office revised up the industrial production figure for March to a 2.1% decrease from a provisional figure of a 3.4% fall. Even with this revision, German industrial production is 1.6% below its level a year earlier. Data on Tuesday showed industrial orders fell by 0.4% in the month of April. "Without any significant pick up in activity, the German economy's recession could continue in the second quarter," ING's global head of macro Carsten Brzeski said.

Persons: Andrew Kenningham, Kenningham, April's, Commerzbank's, Ralph Solveen, Solveen, Carsten Brzeski, Anastasiia Kozlova, Maria Martinez, Miranda Murray, Christina Fincher Organizations: Companies, Thomson Locations: BERLIN, Europe, China, United States

"Germans are cautious by nature," said Stephan Fetsch, Germany's head of consumer goods at KPMG. Economists polled by Reuters are split on its second quarter fortunes: views ranged from a 0.3% GDP fall to a 0.5% gain, with a median forecast of 0.2% growth. However, German consumer sentiment remains below its pandemic low in the spring of 2020 and the consumer barometer from the German Retail Association (HDE) shows a similar picture. German consumers were hit particularly hard by high energy prices, being more dependent on Russia gas. "The German consumer has reasons to be scared and the result of all the economic uncertainty is usually an increase in precautionary savings," said Michael Burda, economics professor at Humboldt University Berlin.

Persons: Wolfgang Rattay, Germany's, Stephan Fetsch, Holger Schmieding, Carsten Brzeski, KPMG's Fetsch, Joerg Kraemer, Michael Burda, Brzeski, Maria Martinez, Prerana Bhat, Indradip Ghosh, Mark John, Toby Chopra Organizations: REUTERS, KPMG, Reuters, German Retail Association, Berenberg, ING, European Central Bank, Humboldt University Berlin, Thomson Locations: Cologne, Germany, BERLIN, Europe, France, Italy, Russia, Berlin, China, Bengaluru

London generated $2 billion in venture capital funding in the first quarter of 2023, compared to Berlin's $800 million, a DEEP Ecosystems analysis of Dealroom data showed. Reuters Graphics Reuters GraphicsTOUGHER TIMESIn 2022, 501 startups were founded in Berlin, a fifth of Germany's total. About a fifth of openings at startups were vacant and more than half were struggling to fill posts, German Startups Association said. In Germany, it has been accompanied by the sharpest contraction in venture capital funding in Europe in the past 12 months, down 42%. The funding crunch is hitting Germany's push to encourage the growth of new renewables businesses, given manufacturing startups are particularly capital intensive.

Persons: Avitosh Sawhney, Christian, headwinds, Katharina Beck, Lindner, Maximilian Tayenthal, Christoph Stresing, Tobias Lechtenfeld, Chancellor Olaf Scholz's, Maria Martinez, Riham Alkousaa, Matthias Williams, Mark John, Edmund Blair Organizations: Wall, Greens, Reuters, Startup Heatmap, Reuters Graphics Reuters, Manpower, Association, European Central Bank, Tech, Zero Alliance, Free Democratic Party, Thomson Locations: Berlin, London, BERLIN, Paris, Germany, Europe

BERLIN, May 31 (Reuters) - Inflation eased in five economically important German states in the month of May, preliminary data showed on Wednesday, suggesting that national price rises are set to slow to their lowest in more than a year. The inflation rate in North-Rhine Westphalia fell to 5.7%, while in Bavaria it slowed to 6.1%, in Brandenburg to 6.3%, in Hesse to 5.9% and in Baden-Wuerttemberg to 6.6%. In April, inflation rates for those five states, out of 16 in Germany, had been between 6.8% and 7.6%. National inflation data will be published at 1200 GMT, with economists surveyed by Reuters forecasting a 6.5% year-on-year rise. Furthermore, the base effects from high energy and food prices in May 2022 will disappear from the year-on-year comparison.

Persons: Luis de Guindos, Maria Martinez, Balazs Koranyi, Matthias Williams, Andrew Cawthorne Organizations: Reuters, European Central Bank, ECB, Thomson Locations: BERLIN, Rhine Westphalia, Bavaria, Brandenburg, Hesse, Baden, Wuerttemberg, Germany, Dutch

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