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☆ Big Tech goes on AI charm offensive in Europe as regulators circle
▼ + stars: | 2024-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

It's worth noting that their comments come as the world's first major law governing AI, the EU's AI Act, was given the final greenlight. Meanwhile, European Commissioner Thierry Breton, a major architect of rules around Big Tech, is set to speak later in the week. Vogels, who is tasked with driving technology innovation within Amazon , said that AI can be used to "solve some of the world's hardest problems." Manyika said Google open-sourced its watermarking tech so that any developer can "build on it, improve on it." "I am concerned that there is potential for monopolies to emerge around Big Tech and AI," he said.

Persons: Rafael Henrique, Lightrocket, Werner Vogels, Society James Manyika, Thierry Breton, Vogels, Manyika, it's, Google's, Gemma AI, Emmanuel Macron, Eric Schmidt, Yann LeCun, Macron, Matt Calkins, Appian, Calkins Organizations: Getty, France —, Viva Tech, Amazon Chief, Google, Technology, Society, Regulators, Big Tech, European Union, Microsoft, Amazon, Meta, Elysee, CNBC Locations: PARIS, France, Paris, Jakarta, Indonesia, View , California, U.S

☆ Oreo-maker Mondelez fined $366 million for rigging European markets
▼ + stars: | 2024-05-23 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

London CNN —Mondelez, the maker of Oreo and Cadbury Dairy Milk chocolate, has been fined €337.5 million ($366 million) for hindering the trade of chocolate, cookies and coffee between European Union countries in order to keep prices high. Margrethe Vestager, the EU’s competition chief, said in a statement Thursday that Mondelez had illegally limited cross-border sales within the EU to maintain higher prices for its products. The European Commission, which started looking into the case in 2019, found that Mondelez International (MDLZ) had deliberately restricted cross-border trade and abused “its dominant position” in some national markets for the sale of chocolate bars. Mondelez made an accrual for the fine last year and no further measures will be necessary to finance it. In another case, Mondelez required a customer to charge higher prices for exports compared with domestic sales.

Persons: London CNN — Mondelez, Margrethe Vestager, Mondelez, “, Mark Thompson Organizations: London CNN, Cadbury, Union, European Commission, Mondelez International, EU Locations: Netherlands, Belgium, Germany, Austria, Bulgaria, Romania

☆ Biden looks to counter China’s influence as he rolls out red carpet for Kenya
▼ + stars: | 2024-05-23 | by ( Kevin Liptak | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Among the goals of his three-day state visit in October: securing another $1 billion in loans from China to help complete infrastructure projects. On Wednesday, when he arrived at Joint Base Andrews to begin another state visit – this time to Washington – he again found a red carpet and troops. Senior administration officials acknowledge a central factor in scheduling a state visit with Kenya was the desire to counter China’s influence and financial leverage on the African continent, which has outpaced the United States in direct investment. One of the goals of Thursday’s state visit is to demonstrate the ability of democracies – like Kenya’s – to deliver for their people. “I plan on going in February,” Biden told reporters.

Persons: Washington CNN —, William Ruto, Joint Base Andrews, Washington –, Jill Biden, Joe Biden, –, Kenya –, ”, “, Biden, Ruto, ” Ruto, he’s, João Manuel Gonçalves Lourenço, Jake Sullivan, ” Biden, Xi Jinping, Donald Trump –, ” Sullivan, Ariel Henry Organizations: Washington CNN, Kenyan, Joint Base, East, Kenya, NATO, Africa –, White, Initiative, Loans, Washington, World Bank, Group, European Union, Democratic, White House, Angolan, Advisers, CNN, Haitian Locations: Beijing, China, Africa, Kenya, United States, China’s, Nairobi, Mombasa, Boston, US, Angola, Democratic Republic of Congo, Zambia, Washington, East, Ukraine, ”, Russia, –, combatting al, Shabab, Somalia, Yemen, Haiti

☆ A US Navy carrier strike group locked in a Red Sea battle has fired over 500 munitions fighting the Houthis
▼ + stars: | 2024-05-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Read previewThe US Navy carrier strike group battling the Houthis in the Red Sea has fired more than 500 munitions throughout its deployment, striking the rebels directly in Yemen and intercepting their missiles and drones. The strike group has leaned on its aircraft and warships to engage targets and defend against varying threats. Sailors observe as an F/A-18E Super Hornet lands on the flight deck aboard the Nimitz-class aircraft carrier USS Dwight D. Eisenhower in the Red Sea on March 12. Aircraft from the strike group have flown more than 27,200 hours across over 12,100 sorties. The Arleigh Burke-class guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on Oct. 19.

Persons: —, Dwight D, Eisenhower, Navy Carlos Del Toro, Arleigh Burke, Carney, Aaron Lau, National Intelligence Avril Haines, We've, It's Organizations: Service, US Navy, Eisenhower Carrier Strike, Ike, Business, Nimitz, Hornet, EA, Aircraft, Navy, Tomahawk, National Intelligence, Pentagon Locations: Yemen, Gulf, Aden, Iran, Hessen

☆ Far-Right E.U. Lawmakers Remove Germany’s AfD Party Before Elections
▼ + stars: | 2024-05-23 | by ( Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

A far-right group in the European Union’s Parliament announced on Thursday that it had ousted the Alternative for Germany party from its coalition, dealing a severe blow to a key alliance just two weeks before E.U. In a statement on its official X account, the Identity and Democracy Group wrote that it had decided to exclude Alternative for Germany, or AfD, because of comments made by Maximilian Krah, the AfD’s lead candidate in the upcoming elections. In an interview last week, Mr. Krah appeared to minimize the crimes carried out by the SS, the Nazi paramilitary force that killed millions of people during the Holocaust. “One million soldiers wore the SS uniform,” Mr. Krah said to La Repubblica and The Financial Times in a joint interview. You have to establish individual guilt.”In its statement, Identity and Democracy wrote that it “no longer wants to be associated with the incidents involving Maximilian Krah, head of the AfD list for the European elections.”

Persons: Maximilian Krah, Krah, Mr, ” Organizations: Union’s, Democracy Group, SS, Nazi, Repubblica, Financial Times, Waffen, Democracy Locations: Germany

"We need much more European big players, and I think Mistral AI can be one of them," Macron said of France's leading AI company. Macron also praised H, the newly launched French AI startup that announced this week it had raised a massive $220 million from its initial round of financing. He compared allowing American tech giants to operate under U.S. regulations while in Europe, to allowing a French bank in the United States to ignore American banking regulations. When it comes to China, however, Macron implied that he thought some U.S. tech regulations had gone too far. "Look, I think China is a competitor when you speak about trade, innovation and economy.

Persons: Emmanuel Macron, Macron, CNBC's Andrew Ross Sorkin Organizations: France —, Microsoft, CNBC, European, EU Artificial Intelligence, European Union, Google, TikTok Locations: PARIS, France, France — Europe, China, United States, U.S, Paris, Mistral, Europe, Washington, Brussels

☆ The War Is Shifting Europe’s Politics Away From Israel
▼ + stars: | 2024-05-22 | by ( Matina Stevis-Gridneff | ) www.nytimes.com time to read: +1 min

In Europe, long a vital source of support for Israel, the political center of gravity is moving away from Prime Minister Benjamin Netanyahu’s government. And most European governments offered unequivocal support to the International Criminal Court this week, after it requested arrest warrants for Israel’s prime minister and defense minister, along with leaders of Hamas. Israel still has staunch allies within the European Union, especially Hungary and the Czech Republic, and key players like Germany, despite growing discomfort with Israel’s conduct, have not shown any inclination to alter their stance. The growing fissures within Europe mean that the consensus-driven European Union will not change its positions any time soon. But European countries face rising international and domestic pressure to take a firmer stand against Israel’s handling of the Palestinian territories, and particularly the devastating war in Gaza.

Persons: Benjamin Netanyahu’s Organizations: Israel, Palestinian, International, European Union Locations: Europe, Spain, Ireland, Norway, Israel, Hungary, Czech Republic, Germany, Gaza

☆ UK general election: PM Rishi Sunak calls surprise July vote as his party seeks to defy dire polls
▼ + stars: | 2024-05-22 | by ( Rob Picheta | ) edition.cnn.com time to read: +6 min

London CNN —UK Prime Minister Rishi Sunak announced a snap general election for July 4 in a statement outside Downing Street on Wednesday evening, as his Conservative Party faces an uphill struggle to extend its 14 years in power. But a fall in inflation rates, announced earlier Wednesday, provided the backdrop for his announcement. The move will be welcomed by the buoyant Labour Party, led by Keir Starmer, which is soaring in the opinion polls and has sought to present itself as a reformed and moderate group that is ready for power. Sunak walks back inside on Wednesday after announcing the July 4 date for the election. But Johnson’s premiership collapsed after a string of scandals, paving the way for his then-finance minister Sunak to emerge as a frontrunner for the leadership.

Persons: Rishi Sunak, Sunak, Downing, King Charles III of, “, ” Sunak, Keir Starmer, Buckingham, Queen’s, Starmer, ”, Carl Court, Liz Truss, Boris Johnson, —, Theresa May —, King Charles III Organizations: London CNN —, Conservative Party, Conservative, Labour Party, Labour, Liberal Democrats, Conservatives, Party, Scottish National Party, European Union, Tories Locations: Britain, Buckingham Palace, Ukraine, Downing, Sunak, United Kingdom, Rwanda, Britain’s

☆ Spain, Norway and Ireland’s recognition of a Palestinian state is likely to have little impact on Israel
▼ + stars: | 2024-05-22 | by ( Luke Mcgee | ) edition.cnn.com time to read: +3 min

CNN —Europe has struggled over the Middle East for a very long time. The decision by Ireland, Spain and Norway to recognize a Palestinian state tells us more about the domestic politics of those countries than anything else. In Ireland, Spain and Norway, support for a Palestinian state chimes with the broader electorate and is unlikely to receive any political blowback. European countries simply do not have a huge amount of influence in this area. That isn’t to say Europeans didn’t care about the Middle East, specifically the Palestinian cause.

Persons: Benjamin Netanyahu, Israel, Israel – Organizations: CNN, Israel, European Union, European Commission, European, EU Locations: Europe, Ireland, Spain, Norway, Israel, Palestinian, Germany, Hungary, Poland, Palestine, Oslo, European Union

☆ China is trying to end its ‘epic’ property crisis. The hard work is just beginning
▼ + stars: | 2024-05-21 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“The policymakers recognize the urgency to prevent an outright property crisis,” said Zhaopeng Xing, senior China strategist at ANZ Research. According to Goldman Sachs, the total value of unsold homes, unfinished projects and unused land in China is about 30 trillion yuan ($4.1 trillion). On Friday, Tao Ling, deputy governor of the PBOC, said the relending program could eventually underpin 500 billion yuan ($69 billion) worth of bank loans to support the buying. The Housing Ministry said Friday that local governments can instruct local state-owned enterprises to help purchase some unsold homes from developers. Just the beginningAddressing the oversupply of unsold homes is only the first step, experts say.

Persons: ”, Zhaopeng Xing, Goldman Sachs, it’s, Tao Ling, Ting Lu, Nomura, Helen Qiao, It’s, Tao, ” Jing Liu, Taylor Wang, Xing, Goldman, Donald Trump, Michelle Lam, Wei Yao, Société Générale Organizations: Hong Kong CNN —, ANZ Research, Goldman, People’s Bank of China, Greater China, Bank of America, Housing Ministry, HSBC, European Union Locations: China, Hong Kong, Hong Kong CNN — Beijing, Beijing, Greater, Société, Japan

☆ Opinion: The International Criminal Court’s threat to Netanyahu
▼ + stars: | 2024-05-21 | by ( Peter Bergen | ) edition.cnn.com time to read: +7 min

Israeli Prime Minister Benjamin Netanyahu would effectively become a pariah who wouldn't be able to travel to most countries if the International Criminal Court were to approve the arrest warrant. Those 124 countries would be duty-bound to arrest Netanyahu were the court to issue an arrest warrant for him. Already France and Belgium have issued statements in support of the ICC‘s requests for Netanyahu’s arrest warrant. In the United States, there has been predictable pushback against the ICC move to try to issue an arrest warrant against Netanyahu. The ICC’s move to seek an arrest warrant for Netanyahu may only harden his resolve to continue the war in Gaza seemingly indefinitely.

Persons: Peter Bergen, ”, Qatar CNN —, Moammar Gadhafi, Vladimir Putin, Benjamin Netanyahu, Netanyahu, Joan Donoghue, Abir, Karim Khan, CNN’s Christiane Amanpour, Yoav Gallant, Khan, Yahya Sinwar, Israel, Israel’s, Mitch McConnell fulminated, Joe Biden, Putin, Putin “, he’s, Republican Sen, Lindsey Graham of, Facebook I’m Organizations: New, Arizona State University, Apple, Spotify, CNN, Doha, Qatar CNN, Israeli, International, ICC, International Court of Justice, BBC, Getty Images, European Union, Republican, Biden, Street, Twitter, Facebook, Global Security, Hamas, The Times Locations: New America, Qatar, Nuremberg, Gaza, Israel, Africa, United States, United Kingdom, Germany, France, Belgium, Ukraine, Lindsey Graham of South Carolina

☆ World’s first major law for artificial intelligence gets final EU green light
▼ + stars: | 2024-05-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

European Union member states on Tuesday agreed the world's first major law for regulating artificial intelligence, as institutions around the world race to introduce curbs for the technology. The EU Council said that it reached final approval for the AI Act — a ground-breaking piece of regulation that aims to introduce the first comprehensive set of rules for artificial intelligence. "The adoption of the AI act is a significant milestone for the European Union," Mathieu Michel, Belgium's secretary of state for digitization said in a Tuesday statement. The AI Act applies a risk-based approach to artificial intelligence, meaning that different applications of the technology are treated differently, depending on the threats they pose to society. High-risk AI systems cover autonomous vehicles or medical devices, which are evaluated on the risks they pose to the health, safety, and fundamental rights of citizens.

Persons: Mathieu Michel, Michel Organizations: EU, European Union Locations: Europe

☆ Opinion: We Germans are making Trump ‘thunderstorm’ plans
▼ + stars: | 2024-05-21 | by ( Opinion Anna Sauerbrey | ) edition.cnn.com time to read: +12 min

That’s scary.” If Trump is elected, Jörg is convinced, he would withdraw American troops from Europe and stop aid to Ukraine. Jim Bourg/AFP/Getty ImagesSix months ahead of the vote, this soccer field conversation reflects the German view of the US elections quite well. Kirill Kudryavtsev/AFP/Getty ImagesIt’s an optimistic view, based on the assumption that Trump will act rationally, as a deal-maker, if elected. What if Trump tries to take America out of NATO or creates a “dormant NATO,” a NATO existent only in name? Another Trump presidency would not only put Germany’s security at risk, but also manifest this view of the US for another four years.

Persons: Thomas Ernst Editor’s, Anna Sauerbrey, Read, ’, ”, Jörg, Miguel, Donald Trump, “, “ Trump, Trump, “ I’m, Piero, Joe Biden, Jim Bourg, Europe’s, Russia “, Olaf Scholz, Michael Kappeler, ” Scholz, mums, Annalena Baerbock, Greg Abbott, Biden, Kirill Kudryavtsev, George H, Bush’s, Barack Obama, Obama, Heinz M, Schahina Gambir, Gambir, Roe, Wade, Bob Parent Organizations: Zeit, Berlin CNN —, Köpenicker FC, CNN, Biden, Trump, Getty, NATO, Republican, European Union, European Central Bank, EU, ”, Dallas Mavericks, Mavericks, LA Clippers, NBA, Green, Bundestag Locations: Berlin, America, Taiwan, Europe, Ukraine, Italy, AFP, Gaza, Germany, Russia, United States, Trump, Texas, China, Poland, France, Frankfurt, Kabul, New York City, New York

☆ Yellen says U.S., Europe must respond jointly to China's industrial overcapacity
▼ + stars: | 2024-05-21 | by ( ) www.cnbc.com time to read: +2 min

FRANKFURT - U.S. Treasury Secretary Janet Yellen said on Tuesday that the United States and Europe needed to respond to China's industrial policies in a "strategic and united way" to keep manufacturers viable on both sides of the Atlantic. In remarks on the importance of the U.S.-European alliance in Frankfurt, Yellen said China's excess industrial capacity threatened both American and European firms as well as the industrial development of emerging market countries. "China's industrial policy may seem remote as we sit here in this room, but if we do not respond strategically and in a united way, the viability of businesses in both our countries and around the world could be at risk," she said. Yellen also called for Europe and the U.S. to stand together against Russian aggression and Iranian "support for terrorism", including agreeing on a way to unlock the value of some $300 billion worth of frozen Russian sovereign assets to aid Ukraine. "That's why I believe it's vital and urgent that we collectively find a way forward to unlock the value of Russian sovereign assets immobilized in our jurisdictions for the benefit of Ukraine," Yellen said.

Persons: Janet Yellen, Yellen, Biden Organizations: U.S . Treasury, Frankfurt School of Finance, Management, European Union, Finance Locations: FRANKFURT, U.S, United States, Europe, Frankfurt, Ukraine, Stresa, Italy

☆ Opinion: Hardened like diamonds, these Gen Z protesters fight for a European future
▼ + stars: | 2024-05-20 | by ( Opinion Will Cathcart | ) edition.cnn.com time to read: +7 min

They snatch protesters from the crowd and drag them back into a mass of black uniforms. Will Cathcart Will CathcartHundreds of thousands of people have taken to the streets across Georgia in recent weeks to protest the government’s adoption of a Kremlin-inspired “foreign agents” bill. As with the foreign agents law, the bill’s authors claim it promotes transparency, an absurd notion. The foreign agents bill is a symptom of a deeper issue – money. The pressures of authoritarian intimidation and systematic violence have hardened Georgia’s young protestors like diamonds.

Persons: Will Cathcart, Mikheil Saakashvili, Cathcart Will Cathcart, Vladimir Putin’s, Putin, Hans Gutbrod, ”, Salome Zourabichvili, aren’t, Gen Z, Europe –, Giorgi Arjevanidze, Bidzina Ivanishvili, Party ” –, Mamuka Mdinaradze, Shalva Papuashvili, – “, “, James O’Brien’s, Ivanishvili, Zviad Organizations: CNN, Tbilisi CNN — Riot, Georgian, Ilia State University, European Union, Getty, Global, Party, Georgian Orthodox Church, US, State, Eurasian Affairs, Fletcher School of Law, NATO, Special Forces Exchange Locations: American, Tbilisi, Georgia, Russia, Belarus, Kyrgyzstan, Europe, AFP, Georgian, Soviet, Russian, United States, Brussels, Washington, Moscow, EU

☆ The US is reportedly rethinking plans to ban Russian diamonds amid industry pushback
▼ + stars: | 2024-05-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The US is considering reducing efforts to enforce a ban on Russian diamonds, Reuters reported. AdvertisementThe US is rethinking restrictions on Russian diamonds after a wave of pushback from the industry and nations heavily involved in the diamond trade, Reuters reported on Monday. That's a step up from the initial sanctions, which previously allowed the trade of Russian diamonds that were polished in other countries. The government has received pushback from firms and nations heavily involved in the diamond trade. De Beers, one of the world's largest diamond miners, said it supported a ban on Russian diamonds but wants diamonds to be verified at the source of production, rather than in Belgium.

Persons: —, That's, crimp, Virginia Drosos, De Beers Organizations: Reuters, Service, European Union, White House, US, Signet, De Locations: European, Belgium, Russia

☆ Britain expands AI safety institute to San Francisco amid scrutiny over regulatory shortcomings
▼ + stars: | 2024-05-20 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

The government on Monday announced it would open a U.S. counterpart to its AI safety summit, a state-backed body focused on testing advanced AI systems to ensure they're safe, in San Francisco this summer. The U.S. iteration of the AI Safety Institute will aim to recruit a team of technical staff headed up by a research director. In a statement, U.K. Technology Minister Michelle Donelan said the AI Safety Summit's U.S. rollout "represents British leadership in AI in action." The AI Safety Institute was established in November 2023 during the AI Safety Summit, a global event held in England's Bletchley Park, the home of World War II code breakers, that sought to boost cross-border cooperation on AI safety. The government said that, since the AI Safety Institute was established in November, it's made progress in evaluating frontier AI models from some of the industry's leading players.

Persons: Ian Hogarth, Michelle Donelan, it's, Anthropic Organizations: LONDON, Monday, AI, Technology, Safety, U.S, Microsoft, AI Safety, Institute, Seoul, European Union Locations: San Francisco, California, United States, U.S, London, British, Bay, OpenAI, England's Bletchley, South Korea, Bletchley Park, Seoul, Britain, European

☆ The West can't completely isolate Russian banks because it would be disastrous beyond Russia
▼ + stars: | 2024-05-20 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

There's one major thing the West could, but won't, do: kill all Russian banks' access to the Society for Worldwide Interbank Financial Telecommunications, or SWIFT. 'Russia's economy is in deep, deep trouble'Despite the West's frustration with how Russia's economy still appears to be holding up, the sanctions appear to be finally working. "In five years, you're going see a really disastrous slowdown in the Russian economy," said Portes, who called for stronger sanctions enforcement. AdvertisementIn April 2022, Russia's central bank governor Elvira Nabiullina warned Russia's reserves can't last forever. "A significant problem is that they are running out of foreign exchange reserves, and you can't create foreign reserves," Portes added.

Persons: —, hasn't, SWIFT, Alex Capri, Richard Portes, Portes, Alexander Kolyandr, Elvira Nabiullina, Russia's Organizations: Service, West, Society, Worldwide Interbank Financial Telecommunications, Business, SWIFT, European Union, National University of Singapore, US Customs Service, London Business School, Carnegie Endowment, International Peace, Central Bank of Locations: Russia, Ukraine, Moscow, Russian, SWIFT, Capri, Asia Pacific, Europe, India, China, Central Bank of Russia, Russia's

☆ After Biden’s monster taxes, China launches its own anti-dumping probe against the US and EU
▼ + stars: | 2024-05-20 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. CNN —China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become increasingly fraught. On Sunday, China’s Ministry of Commerce said it was launching an anti-dumping probe into polyoxymethylene or POM copolymers, a thermoplastic used in various industries ranging from auto parts to electronics, imported from the US, the European Union, Taiwan and Japan. Thermoplastics are malleable when heated but become fixed in a solid shape when cooled, and can partially replace metals such as copper and zinc. The investigation should take a year to complete, but may be extended by another six months, the ministry added.

Persons: Joe Biden Organizations: CNN, United, China’s Ministry of Commerce, European Union, EV Locations: China, United States, Taiwan, Japan

☆ Saudi king to be treated for lung inflammation, state news agency says
▼ + stars: | 2024-05-20 | by ( ) www.cnbc.com time to read: +2 min

Photo: Oliver Weiken/dpa (Photo by Oliver Weiken/picture alliance via Getty Images)Saudi King Salman will undergo treatment at Al Salam Palace in Jeddah for a lung inflammation, the state news agency said on Sunday, hours after he underwent medical tests. Citing the royal court, the state news agency said the 88-year-old king would be treated with antibiotics until the inflammation subsides. Earlier on Sunday, King Salman underwent medical tests at the royal clinics at Al Salam Palace due to "high temperature and joint pain", the Saudi state news agency said. King Salman, the custodian of Islam's holiest sites, became ruler of the world's top oil exporter in 2015 after spending more than 2-1/2 years as the crown prince and deputy premier. Saudi Arabia's embassy in Japan did not immediately respond to a request for comment about the crown prince's cancelled trip.

Persons: Abdel Fattah el, Saudi King Salman bin Abdulaziz Al Saud, Jean, Claude Juncker, Oliver Weiken, Saudi King Salman, King, Prince Mohammed bin Salman, Yoshimasa Hayashi, King Salman of, Prince Mohammed's, Hayashi, King Salman, Jake Sullivan, Emperor Naruhito, Fumio Kishida Organizations: Arab League, European Union, of Arab, Getty Images, Al Salam, Saudi, Al, U.S . National Locations: Egypt, Sharm El, Saudi King, Sharm, Saudi, Jeddah, Japan, Saudi Arabia, King Salman of Saudi Arabia, Tokyo, Washington, Riyadh, Saudi Arabia's

☆ Soaring debt and deficits causing worry about threats to the economy and markets
▼ + stars: | 2024-05-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020. Concern over such eye-popping numbers had been largely confined to partisan rancor on Capitol Hill as well as from watchdogs like the Committee for a Responsible Federal Budget. Uncharted territory for debt and deficitsIndeed, the CBO numbers are ominous, as they outline the likely path of debt and deficits. Surging budget deficits have been driving the debt, and the CBO only expects that to get worse. "The huge obvious problem is that the U.S. federal debt is now on a completely unsustainable long-term trajectory," analysts at Wolfe Research said in a recent note.

Persons: Greenlee Beal, Jerome Powell, Powell, Jamie Dimon, Ray Dalio, hasn't, Wolfe Organizations: U.S, Capitol, Wall, CBO, Union, JPMorgan Chase, Sky News, Bridgewater Associates, Financial Times, Treasury Department, Wolfe Research, U.S ., Federal Reserve Locations: Washington , U.S, Washington, Amsterdam, London, America, U.S

☆ Toxic Political Culture Has Even Some Slovaks Calling Country ‘a Black Hole.’
▼ + stars: | 2024-05-19 | by ( Andrew Higgins | ) www.nytimes.com time to read: +1 min

More than a quarter century has passed since the United States called Slovakia a “black hole in the center of Europe” — an island of autocratic malaise surrounded by spry new democracies. The insult, leveled in 1997 by Secretary of State Madeline Albright against a country that has since joined NATO and the European Union, still stings. “We are back in a black hole; I’m not sure we ever got out of it,” said Roman Kvasnica, a prominent Slovak lawyer who denounces a political culture in which threats and personal insults are routine. In his own legal work he has faced numerous threats, including a warning that he would get a “bullet in the head” from a tycoon charged with ordering the 2018 murder of an investigative journalist digging into government corruption. Mr. Havel served as the first president of post-communist Czechoslovakia, the state that in 1993 split amicably into the Czech Republic and the Republic of Slovakia.

Persons: spry, Madeline Albright, Robert Fico, Albright, ”, Roman Kvasnica, Vaclav Havel, Havel Organizations: NATO, European Union, Central, Mr Locations: United States, Slovakia, Europe, Central European, Slovak, Czechoslovakia, Czech Republic, Republic of Slovakia

☆ Georgian president vetoes ‘foreign agents’ bill after widespread opposition
▼ + stars: | 2024-05-18 | by ( Michael Rios | Kathleen Magramo | ) edition.cnn.com time to read: +2 min

CNN —Georgia’s President Salome Zourabichvili has vetoed a controversial “foreign agents” bill that sparked weeks of widespread protests across the country. The divisive legislation would require organizations receiving more than 20% of their funding from abroad to register as “agents of foreign influence” or face a fine. Opponents say the bill was modeled after similar laws in Russia that the Kremlin has used to snuff out opposition and civil society. “This law, in its essence and spirit, is fundamentally Russian, contradicting our constitution and all European standards,” President Zourabichvili said after vetoing the bill on Saturday. Demonstrators protest against the foreign agents bill in Tbilisi, Georgia on May 13, 2024.

Persons: CNN —, Salome Zourabichvili, Zourabichvili, Zurab Organizations: CNN, European Union, EU Locations: Russia, Tbilisi , Georgia, Georgia, Soviet, Russia . Georgia, Soviet Union, Moscow, Europe, –, Ukraine

☆ Poland to spend around $2.5 billion on securing eastern border
▼ + stars: | 2024-05-18 | by ( ) www.cnbc.com time to read: +2 min

Donald Tusk, Prime Minister of Poland, speaks during a press conference where Polish PM announces resignation of four ministers and nominees for the future positions in Chancellery of Polish Prime Minister in Warsaw, Poland on MAy 10, 2024. Poland will invest 10 billion zlotys ($2.55 billion) in a program to secure its eastern border, the prime minister said on Saturday, in a bid to bolster its defenses against what it says is a rising threat from Russia and Belarus. "We have decided to invest 10 billion zlotys in our security, and above all in a secure eastern border," Prime Minister Donald Tusk told a news conference. "We are starting a major project to build a secure border, including a system of fortifications as well as landscaping and environmental decisions that will make this border impossible to pass for a potential enemy." Tusk had announced plans to strengthen the eastern border earlier in May, but without giving details.

Persons: Donald Tusk, Tusk Organizations: Polish, European Union, Minsk, European Investment Bank, Sky Locations: Poland, Warsaw, Russia, Belarus, Poland's, Minsk, Russian, Europe, Ukraine, Moscow, Belarusian, Germany

☆ A Would-be Assassin Stirs Europe’s Violent Ghosts
▼ + stars: | 2024-05-18 | by ( Roger Cohen | ) www.nytimes.com time to read: +1 min

Dmitri A. Medvedev, the former Russian president and regular forecaster of a third World War, had no hesitation in comparing the would-be assassin of Prime Minister Robert Fico of Slovakia to the young man who ignited World War I. Europe, he suggested, was once more on the brink. It was on many levels a wild association to make. The Europe of empires that unraveled between 1914 and 1918 is long gone, as is the Europe that replaced it and produced Auschwitz. In their place the painstakingly constructed European Union of 27 members, including Slovakia, has been put in place with the overriding goal of making war impossible on a long-ravaged continent. Yet, with elections to the European Parliament just three weeks way, ominous indications of brewing violence go well beyond the shooting of Mr. Fico, whose condition remains serious.

Persons: Dmitri A, Medvedev, Robert Fico, Fico, Mr, Princip, Archduke Franz Ferdinand, Churchill Organizations: Bosnian Serb, of Locations: Russian, Slovakia, Europe, Russia, Bosnian, Sarajevo

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