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The Polish diplomat, who declined to be identified citing security concerns, confirmed the role of his advertisement in the digital intrusion. In 2021, U.S. and British intelligence agencies identified APT29 as an arm of Russia's foreign Intelligence Service, the SVR. "Diplomatic missions will always be a high-value espionage target," the Unit 42 report said. That software, Unit 42 said, was disguised as an album of photographs of the used BMW. As for the car, it was still available, the Polish diplomat told Reuters:"I'll try to sell it in Poland, probably," he said.

Persons: James Pearson, Conor Humphries Organizations: Palo Alto Networks, Reuters, Polish Ministry of Foreign Affairs, BMW, Intelligence Service, SVR, NATO, European Union, Unit, U.S . State Department, Technology, Thomson Locations: Ukraine, Ukraine's, Kyiv, Polish, Africa, U.S, Poland

Persons: James Pearson, Conor Humphries Organizations: Reuters, Palo Alto Networks, Polish Ministry of Foreign Affairs, BMW, Intelligence Service, SVR, NATO, European Union, Unit, U.S . State Department, Technology, Thomson Locations: Ukraine, Ukraine's, Kyiv, Polish, Africa, U.S, Poland

☆ Back-to-school spending is forecast to drop 10% as inflation bites
▼ + stars: | 2023-07-12 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

Back-to-school spending by parents with children in grades K-12 is expected to decrease 10% this year over last year to $597 per student, according to a new forecast from Deloitte on Wednesday. The last time Deloitte expected a decline in back-to-school spending was in 2014. Although US consumer spending has remained strong, even as inflation has taken a bite out of discretionary purchases, the economy is starting to show cracks. The report said spending on clothing is expected to fall 14% year-over-year and technology-related purchases are forecast to decline 13%; in contrast, purchases of school supplies are expected to be up 20% compared to last year. Among parents spending less, 51% attributed the pullback to reduced disposable income (up from 45% in 2022), while 75% of those spending more said it was because of increased prices (up from 60% in 2022).

Persons: Nick Handrinos, “ It’s, ” Organizations: New, New York CNN, Deloitte, Target Locations: New York

Medical school curriculums, for example, include erroneous claims that Black women’s nerve endings are “less sensitive” and require less anesthesia, and that Black women’s blood coagulates faster than that of white women, leading to delayed treatment for dangerous hemorrhages, according to the report. There are more than 200 million people of African descent in the Americas — one in four people in Latin America and the Caribbean, and one in seven in the United States and Canada. Among countries that provide maternal death rates by race, the United States has the lowest death rate overall, but the widest racial disparities. Black women in the United States are three times more likely than white women to die during or soon after childbirth. Those problems persist across income and education levels, as Black women with college degrees are still 1.6 times as likely to die in childbirth than white women who have not finished high school.

Persons: it’s, Kanem, “ Organizations: São Paulo Locations: São, New York, America, North America, Caribbean, Americas, Latin America, United States, Canada

☆ US economic activity rose slightly in recent weeks, Fed survey shows
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +5 min

July 12 (Reuters) - U.S. economic activity increased slightly in recent weeks, with slow growth seen continuing in coming months, according to a Federal Reserve report published on Wednesday that also offered further indications of abating inflation pressures. "Overall economic expectations for the coming months generally continued to call for slow growth," the Fed said. Meanwhile, the report largely dovetailed with other recent data suggesting upward pressure on prices was softening. Credit standards tightened for all loan types, and loan spreads continued to narrow." Data since the June 13-14 meeting have shown an economy still growing despite expectations that the 5 percentage points of Fed rate increases over the last year or so would tip it into recession.

Persons: Price, Dan Burns, Paul Simao, Andrea Ricci Organizations: Federal, Richmond Fed, New York Fed, San Francisco Fed, Employers, Labor, Thomson Locations: U.S, New York

☆ Discord does about-face on parental controls for teen social media use
▼ + stars: | 2023-07-12 | by ( Natalie Rose Goldberg | ) www.cnbc.com time to read: +3 min

Discord has introduced parental control tools, a move that represents a continued shift by the growing social media company to involve parents on its platform amid greater scrutiny of teen social media usage and its potentially negative health consequences. But parents and public officials continue to pressure social media platforms over issues related to teen usage. A Surgeon General's report from May of this year indicated that 46% of teens ages 13-17 say that social media makes them feel worse about their body image, and that there is a relationship between social media use and depression. Discord's blog post about the new parental controls attempted to strike a balance between its user-first philosophy and the fact that many social media users are teens — the Surgeon General report said up to 95% of people between ages 13 and 17 report using social media. Snap, Instagram, TikTok all have parental controlsParental controls like these are growing more common across social media.

Persons: —, Snapchat, Meta Organizations: Wall Street Journal, Family

LONDON, July 12 (Reuters) - Companies around the globe took on a record $456 billion of net new debt in 2022/23, although higher interest rates should reduce appetite for new borrowing ahead, Janus Henderson said in a report published on Wednesday. The net new debt taken on in 2022/23 pushed outstanding net debt up by 6.2% on a constant-currency basis to $7.80 trillion, surpassing a previous peak in 2020/21, at the height of the COVID pandemic, Janus Henderson's annual corporate debt index showed. One fifth of the net-debt increase reflected companies such as Alphabet and Meta (META.O), which owns Facebook and Instagram, spending some of their "vast cash mountains", Janus Henderson said. Higher interest rates were also expected to dampen appetite for further corporate borrowing and Janus Henderson said it expected net debt to decline by 1.9% in 2023/2024, falling to $7.65 trillion on a constant-currency basis. "The increase in interest rates will feed through into the weaker cohort of credit quality much quicker than in investment grade (bonds)," Briggs said.

Persons: Janus Henderson, Janus, James Briggs, Briggs, We're, Chiara Elisei, Dhara Ranasinghe, Sharon Singleton Organizations: Companies, Verizon, Thomson Locations: U.S, Europe

LONDON, July 11 (Reuters) - Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector, a survey showed on Tuesday. The proportion of traditional hedge funds investing in crypto-assets has dropped to 29% this year from 37% in 2022, the report by PWC and the Alternative Investment Management Association (AIMA) said. Traditional hedge funds that avoided trading in crypto said deterrents included reputational risk, a lack of clear guidance from regulators and tax authorities and unreliable data. Hedge funds that are invested in crypto mostly use bitcoin or Ethereum. Almost half of hedge funds that were already trading crypto said they would put more money in, but that crypto only accounted for 2% of assets under management.

Persons: PWC, bitcoin, Jack Inglis, Nell Mackenzie, Elizabeth Howcroft, Dhara Ranasinghe, Alexander Smith Organizations: Global, Alternative Investment Management Association, Investors, Reuters, Thomson

☆ Free shipping as we knew it is over
▼ + stars: | 2023-07-11 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

Most online shoppers have come expect free shipping, according to a recent survey. It says companies like Macy's and Abercrombie & Fitch have raised their free shipping minimums online. Free shipping "wasn't going to last, and finally the party is over," Satish Jindel, president of shipping data company ShipMatrix, told the Journal. According to data from shipping technology firm Shippo, nearly two-thirds of Americans said they wouldn't buy something online without free shipping. "Having some type of free shipping option is now a permanent expectation," Krish Iyer, vice president of strategic partnerships at shipping software company Auctane, told Insider earlier this year.

Persons: Fitch, Narvar, Satish Jindel, minimums, Krish Iyer Organizations: Service, Privacy, Wall Street Journal, Retailers, Abercrombie, Amazon, Amazon Prime, Insider Intelligence, Carriers, UPS, FedEx, DHL Locations: Wall, Silicon, Narvar

The Massalit and other non-Arab communities are often targeted by Arab militias, supported by the RSF, the report said. “Many of these abuses committed in the context of the armed conflict in Sudan amount to war crimes,” HRW’s report said. Satellite imagery and fire detection data shows that six other towns and villages in West Darfur, including Molle, Murnei, and Gokor, were also burned down, according to the report. Since then, West Darfur has seen widespread violence and reports of atrocities committed by RSF fighters and their allied militias. “Since the conflict in Sudan broke out in April, some of the worst atrocities have been in West Darfur,” HRW senior crisis and conflict researcher Jean-Baptiste Gallopin said.

Persons: Massalit, ”, Misterei, Misterei’s, Witnesses, HRW’s, “, RSF, Jean, Baptiste Gallopin, Gallopin, ” Gallopin, Alice Wairimu Nderitu, Chad ”, CNN geolocated, Darfur’s Murnei Organizations: CNN, Human Rights Watch, Rapid Support Forces, HRW, Sudanese Armed Forces, Criminal Court, ICC, United Nations Locations: Sudan’s West Darfur, Sudan, Misterei, West Darfur, Chad, Sudan's Darfur, Darfur, ”, Sudan’s, Darfur’s

☆ Israel occupation makes Palestinian territories 'open-air prison', UN expert says
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +3 min

GENEVA, July 11 (Reuters) - A United Nations expert on Tuesday said Israel had transformed the occupied Palestinian territories into an "open-air prison" through widespread detentions of Palestinians, an assertion swiftly dismissed by Israel. Francesca Albanese, the U.N. Special Rapporteur on human rights in the occupied territories, told reporters in Geneva that Israel had carried out widespread, systematic and arbitrary detention of Palestinians since the 1967 Middle East war. Israel's founding in 1948, defeating Arab armies from around the Middle East, scattered hundreds of thousands of Palestinian refugees through the wider region. In the 1967 Middle East war, Israel captured the West Bank and East Jerusalem from Jordan and Gaza from Egypt. Israel annexed East Jerusalem in a move not recognised internationally, and launched settlements in the West Bank and Gaza.

Persons: Israel, Francesca Albanese, Albanese, Israel's, Gabrielle Tétrault, Farber, William Maclean Organizations: United, Israel, Reuters, Human Rights, West Bank, Thomson Locations: GENEVA, United Nations, Geneva, Israel, East Jerusalem, Jordan, Gaza, Egypt, Jenin

CNN —Six people have died in a helicopter crash in Nepal, a spokesperson for Kathmandu’s Tribhuvan International Airport said Tuesday. The Manang Air helicopter was carrying five Mexican passengers and a Nepali pilot, Teknath Sitoula told CNN. It added that locals and police who reached the crash site found the bodies of all on board. It will take some time because it means traveling by road from the crash site and then flying to Kathmandu,” Sitoula told CNN. In January, at least 68 people were killed when an aircraft went down near the city of Pokhara in central Nepal.

Persons: Teknath Sitoula, Mount Everest, ” Sitoula Organizations: CNN, Kathmandu’s Tribhuvan, Manang Air, Reuters, Civil Aviation Authority of Locations: Nepal, Solukhumbu district, Everest, Kathmandu, Civil Aviation Authority of Nepal, Solukhumbu’s, Likhupike, Pokhara

☆ India's Adani mulls bidding for Anil Ambani's bankrupt coal plants, Bloomberg reports
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - Indian billionaire Gautam Adani is considering a bid for the bankrupt coal-fired power plants belonging to industrialist Anil Ambani, Bloomberg News reported on Tuesday, citing people familiar with the matter. Ambani's Reliance Power Ltd (RPOL.NS) will also likely make an offer to win back control of the firm, the report added. Last week, Adani Green Energy Ltd (ADNA.NS) approved raising 123 billion rupees ($1.49 billion), while two other Adani group companies - Adani Transmission (ADAI.NS) and Adani Enterprises (ADEL.NS) - had in May outlined plans to raise funds totalling $2.57 billion. Adani's bids are aimed at strengthening the company's growing portfolio of coal power projects, the report said. Adani Enterprises or Reliance Power did not immediately respond to a Reuters' request for comment.

Persons: Gautam Adani, Anil Ambani, Ambani, Adani, Jose Joseph, Kashish Tandon, Sohini Goswami Organizations: Bloomberg, Vidarbha Industries Power Ltd, Ambani's Reliance Power, Green Energy Ltd, Adani Enterprises, Hindenburg Research, Reliance, Thomson Locations: Vidarbha, Nagpur, Maharashtra, Bengaluru

☆ Colombia gov't risks incompliance with fiscal rule - committee
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

BOGOTA, July 10 (Reuters) - Colombia risks falling out of compliance with its fiscal rule through greater spending proposed for 2024 and the financial impact of reforms being debated in Congress, an independent committee warned on Monday. Finance Minister Ricardo Bonilla has said the government would respect the 2011 rule which imposes constraints on fiscal policy to block deterioration of public finances. The finance ministry in June presented its medium-term fiscal framework (MFMP), noting that the deficit could increase to 4.5% of Gross Domestic Product in 2024. It revised its debt targets upwards and adjusted its fiscal deficit forecast for 2023 up to 4.3% of GDP from 3.8% originally. The expert Autonomous Fiscal Rule Committee (CARF) said spending increases planned for this year and next could put greater pressure on Colombia's finances and reverse success in reducing the deficit following the coronavirus pandemic.

Persons: Ricardo Bonilla, Gustavo Petro, Nelson Bocanegra, Oliver Griffin, Richard Chang Organizations: . Finance, Gross, Thomson Locations: BOGOTA, Colombia

☆ Twenty-four central banks will have digital currencies by 2030 - BIS survey
▼ + stars: | 2023-07-10 | by ( Karin Strohecker | ) www.reuters.com time to read: +3 min

Central banks around the globe have been studying and working on digital versions of their currencies for retail use to avoid leaving digital payments to the private sector amid an accelerating decline of cash. Most of the new Central Bank Digital Currencies (CBDCs) will emerge in the retail space, where eleven central banks could join peers in the Bahamas, the Eastern Caribbean, Jamaica and Nigeria which already run live digital retail currencies, the BIS found in its survey of 86 central banks conducted late 2022. On the wholesale side, which in future could allow financial institutions to access new functionalities thanks to tokenisation, nine central banks could launch CBDCs, the BIS said. "Enhancing cross-border payments is among the key drivers of central banks' work on wholesale CBDCs," the authors of the report wrote. Pilot testing in China now reaches 260 million people and two other big emerging economies, India and Brazil, plan to launch digital currencies next year.

Persons: Francois Lenoir, CBDC, Karin Strohecker, Mark Potter Organizations: REUTERS, Francois Lenoir LONDON, Bank for International Settlements, Central Bank Digital, BIS, Swiss National Bank, European Central Bank, Silicon Valley Bank, Signature Bank, Thomson Locations: Brussels, Belgium, Bahamas, Eastern Caribbean, Jamaica, Nigeria, China, India, Brazil, Silicon, stablecoins

☆ What the U.S. Risks By Supplying Ukraine With Cluster Weapons - The New York Times
▼ + stars: | 2023-07-10 | by ( The Editorial Board | ) www.nytimes.com time to read: +3 min

Cluster munitions used by both Ukrainian and Russian forces have led to, reportedly, at least dozens of civilian deaths and serious injuries, according to a Human Rights Watch report published Thursday. Specifically, the report said Ukrainian cluster-munition rocket attacks on Russian-controlled areas around the city of Izium in 2022 “caused many casualties among Ukrainian civilians.” (Ukraine denied that cluster munitions were used there.) While it is Ukraine’s decision to choose what weapons it uses in its defense, it is for America to decide which weapons to supply. Sending cluster munitions to Ukraine amounts to a clear escalation of a conflict that has already become far too brutal and destructive. In 2008, the Pentagon set a limit of 1 percent on cluster munitions, and Congress has since banned the use, production or transfer of weapons over that rate.

Persons: “, Abrams, America’s, Russia’s, John Ismay Organizations: Human Rights, Pentagon, Times, Foreign Assistance Locations: Ukrainian, Izium, ”, Ukraine, America, United, Russia, Washington, Vietnam, Afghanistan

☆ Amazon has lost market share for the Prime Day shopping holiday it invented. Walmart is setting itself up for a bigger slice of those sales.
▼ + stars: | 2023-07-10 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Walmart once again is looking to compete directly with Amazon's Prime Day. In previous years, the company held "Rollbacks and More" events in July to compete with Prime Day, and last year Walmart launched a summer savings event called Walmart+ Weekend which took place just before Amazon Prime Day. Walmart is holding a summer savings event called 'Walmart Plus Week' between July 10 and 13, around the same time as Amazon's Prime Day. "Amazon's Prime Day market share will continue to slip, dropping from 62.0% in 2018 to an expected 59.6% in 2023," the report said. Roots of Walmart-Amazon Prime Day rivalryThe yearly battle over customers between Walmart and Amazon's Prime Day could date as far back as 2015.

Persons: Andrew Lipsman, Lipsman, Marc Lore, Jason Del Rey Organizations: Walmart, Amazon's, Service, Amazon, Intelligence, Insider Intelligence, Target, Jet, Target Circle Locations: Wall, Silicon, Amazon

☆ Icelandic volcano erupts near capital
▼ + stars: | 2023-07-10 | by ( Nora Buli | ) www.reuters.com time to read: +2 min

[1/3] Smoke billows and lava spurts after the eruption of a volcano, on the Reykjanes peninsula, near the capital Reykjavik, in southwest Iceland, July 10, 2023, in this picture obtained from social media. Juergen Merz - Glacier Photo Artist/via REUTERSOSLO, July 10 (Reuters) - A volcano has erupted on the Reykjanes peninsula in southwest Iceland, near the capital Reykjavik, following intense earthquake activity in the area, the country's Meteorological Office (IMO) said on Monday. "At the moment, it's a very small eruption," said Matthew Roberts of the service and research division at the IMO. Reykjanes Peninsula is a volcanic and seismic hot-spot southwest of the capital Reykjavik. "This is not a volcanic eruption with any ash.

Persons: Juergen Merz, Matthew Roberts, IMO's Roberts, Nora Buli, Barbara Lewis Organizations: REUTERS, country's Meteorological, Reykjavik's, Keflavik, Thomson Locations: Reykjavik, Iceland, REUTERS OSLO, Reykjanes, Oslo

☆ Generative AI is bringing back cloud demand after IT budgets were slashed, and this boom could be a big win for Amazon, analysts say
▼ + stars: | 2023-07-10 | by ( Ellen Thomas | ) www.businessinsider.com time to read: +2 min

Deal cycles are back to closing at about 30 to 60 days in Q2, a Mizuho Bank report said. The demand for generative AI, which operates in the cloud, has driven the stabilization. The big cloud-computing budget cut could be subsiding thanks to generative AI, and Amazon Web Services could benefit massively, according to a new survey of CIOs from Mizuho Bank. CIOs who were focused on trimming cloud budgets in the first quarter are now looking to spend those savings on generative AI. Customers are especially excited about Bedrock, Amazon's foundational model for developers to build generative AI on, because of its privacy features, the survey said.

Persons: CIOs, Mizuho, Bernstein, Bard Organizations: Mizuho Bank, Amazon Web, Mizuho Bank's, AWS, Microsoft, Google, Analysts Locations: Mizuho, OpenAI

All eyes will be on U.S. inflation data this week that will feed into the Federal Reserve's interest rate decision later in the month. A Reuters poll of economists showed they suspect that growth in consumer prices likely slowed in June. Most megacap technology and growth stocks, valuations in which come under pressure when borrowing costs rise, eased in premarket trading, with Apple (AAPL.O) and Alphabet (GOOGL.O) down 0.7% each. Overall, earnings for the S&P 500 constituents are expected to fall 5.7% in the second quarter, Refintiv data showed. ET, Dow e-minis were up 19 points, or 0.06%, S&P 500 e-minis were down 4.5 points, or 0.1%, and Nasdaq 100 e-minis were down 41.25 points, or 0.27%.

Persons: Carl Icahn, Wall, JPMorgan Chase, Ipek Ozkardeskaya, Li Auto, Johann M Cherian, Saumyadeb Chakrabarty Organizations: Citigroup, Dow, Nasdaq, Traders, Apple, JPMorgan, Swissquote Bank, Dow e, China Association of Auto Manufacturers, Ichan Enterprises, Thomson Locations: China, U.S, Bengaluru

☆ Opinion: The election that couldn’t happen in high school
▼ + stars: | 2023-07-09 | by ( Richard Galant | ) edition.cnn.com time to read: +15 min

CNN —In the classic 1999 film, “Election,” the high school student government vote has everything: naked ambition, campaign poster shredding, ballot manipulation, infidelity and more. But what the gifted writer Tom Perotta likely couldn’t imagine was an election in which two unpopular candidates square off for president. That doesn’t happen in high school, even in a satirical movie. The president supports stripping that state of its first-in-the-nation primary status in favor of South Carolina, the state that energized Biden’s 2020 campaign. “In the runup to the 2024 elections, Democrats plan to put the Supreme Court on trial,” wrote David Mark.

Persons: Reese Witherspoon, Tracy Flick, ” Matthew Broderick, Jim McAllister, Tracy, Tom Perotta, Joe Biden, Donald Trump, Trump, Harry Enten, “, Julian Zelizer, ” Biden, Biden, specter, … ” Dana Summers, Robert F, Kennedy Jr, — Lyndon Johnson, Jimmy Carter, George H.W, Bush —, Kennedy, ”, MAGA, Sen, Lindsey Graham’s, Trump’s, Dean Obeidallah, Graham, Michael Flynn, Flynn, Peter Bergen, Erik German, Bill Bramhall, ” “ Flynn, ‘, America’s, …, Geoff Duncan, Drew Sheneman, Roe, Wade, David Mark, … ” Lisa Benson, GoComics.com, Biden romped, Jack Ohman, Kara Alaimo, Coles Whalen, ’, Alice Driver, Clay Jones, Mark Zuckerberg, Elon Musk, Meta, David Zurawik, Victoria, Olesya Khromeychuk, Victoria Amelina, Andrei Kartapolov, Sharp, ” Khromeychuk, ” Don’t, Sheikh Mohammed Al, Issa, David A, Nicole Hemmer, Jill Filipovic, Sonia Pruitt, Lynda Lin Grigsby, Sara Stewart, Jharrel Jerome, Boots Riley, Holly Thomas, Phoebe Waller, Indiana Jones, Harrison Ford, He’s, goddaughter Helena, Archimedes, Jones, Waller Organizations: CNN, Capitol, Trump, Biden, Agency, Republicans, RFK Jr, New, ”, FBI, Economic, Republican National, Republican Party, GOP, Democratic, McKinsey & Company, Twitter, Facebook, Russian Duma Defense, Hollywood, “, Indy Locations: New Hampshire, South Carolina, ” Bergen, German, Davos, Georgia, California, “, Russian, Ukrainian, Kramatorsk, Ukraine, New York, Donetsk, Auschwitz, Here’s, Oakland , California

☆ Should public buses be free?
▼ + stars: | 2023-07-08 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +10 min

New York CNN —More major cities in the United States are letting public transit riders hop on board for free. Boston is piloting three zero-fare public bus routes, and New York City is expected to test free buses on five lines. Fares made up, on average, 12.5% of transit agencies’ operating expenses in 2021, down from 31.4% in 2019, according to the American Public Transit Association. “By offering free public transport, we are not really attracting car drivers in large volumes,” said Mohamed Mezghani, secretary general of the International Association of Public Transport. “There’s no such thing as free transit,” he added.

Persons: Michelle Wu, “, ”, Lane Turner, Stephanie Lotshaw, American Public Transit Association . Massachusetts Sen, Edward Markey, Ayanna Pressley, Wu, Matt Stone, Henry Bendon, ” Bendon, Fares, Pat Greenhouse, Mohamed Mezghani, Sarah Kaufman, There’s, Boston Mayor Wu, Olivier Douliery, Richard Jarrold, Jarrold Organizations: New, New York CNN, Boston, CNN, Boston Globe, American Public Transit Association . Massachusetts, US, MediaNews, Boston Herald, Getty, Richmond, Agency, American Public Transit Association, Kansas City, International Association of Public Transport, “, Rudin Center, Transportation, New York University, Boston Mayor, Getty Images Washington, Transportation Authority Locations: New York, United States, Kansas City, Raleigh, Richmond, Olympia, Tucson, Alexandria, Virginia, Denver, Boston, New York City, America, Tallinn, Estonia, Dunkirk, France, Luxembourg, Washington ,, AFP, Kansas

☆ Germany's economy is stagnating. And these 5 charts show how
▼ + stars: | 2023-07-07 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +6 min

But a faltering gross domestic product isn't the only figure that suggests that the German economy is stuttering. Germany's inflation rate is expected to hit 6.4% for June, according to provisional data from the German statistics office, which is an increase from the 6.1% recorded for May. Expect maybe for the second half that inflation might come down to a certain extent," Joachim Nagel, president of Germany's central bank, the Bundesbank, told CNBC in March. "What the fiscal authority can do in the face of high inflation is to alleviate the pain of inflation on the most fragile citizens," he said. The German economy has already recouped half of the losses in terms of trade incurred over the last two years and the energy crisis," he added.

Persons: Joachim Nagel, Sylvain Broyer, Volker Wieland, Veronika Grimm, Alexander, Universität, Broyer, China's, Robert Habeck Organizations: Anadolu Agency, Getty, CNBC, European Central Bank, Energy, Goethe University, Allianz, Reuters, Friedrich, country's Locations: Germany, Europe, Ukraine, Frankfurt, Universität Erlangen, Nürnberg, China, Beijing

☆ Vision Pro fans will need an appointment if they want to buy Apple's $3,500 headset from a store, report says
▼ + stars: | 2023-07-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Apple will need to book an appointment to buy the Vision Pro headset in-store. The company is planning a retail launch for the headset next year, Bloomberg reported. Apple fans hoping to get their hands on the Vision Pro will need to book an appointment to buy the headset in-store. The Vision Pro will be rolled out next year, with stores in New York and Los Angeles among the first to stock the device, per Bloomberg. Apple's Vision Pro is the company's first major product release in eight years.

Persons: groans, Insider's Pete Syme, Elon Musk Organizations: Apple, Bloomberg, Vision, Worldwide, Conference Locations: New York, Los Angeles

On Thursday, regulators orchestrated an agreement between Tesla (TSLA.O) and 15 Chinese rivals to avoid “abnormal pricing”, sealing the deal at a signing ceremony in Shanghai, Bloomberg reported. Perhaps as a result, sellers of internal combustion engines frequently offered steeper discounts compared to battery-powered rivals, Citi’s data show. In this case, at least, it appears to be trying to keep competition healthy, targeting only “abnormal pricing”. If nothing else, Beijing’s intervention offers a welcome pause in hostilities. Over 30 brands in China announced discounts in the first three months of the year, according to industry consultancy Automobility.

Persons: It’s, Bill Russo, AlixPartners, Tesla, Antony Currie, Thomas Shum Organizations: Reuters, Tesla, Bloomberg, FAW Audi, BAIC Hyundai, Citi, HK, country’s Ministry of Industry, Information Technology, China Association of Automobile Manufacturers, Thomson Locations: HONG KONG, Beijing, Shanghai, Xpeng, China

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