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☆ Most countries have made ‘little or no progress’ in returning Nazi-looted art, report finds
▼ + stars: | 2024-03-06 | by ( Carlie Porterfield | ) edition.cnn.com time to read: +6 min

Of the 47 nations that endorsed the 2009 Terezin Declaration, which incorporated the principles, seven have made major progress, three have made substantial progress, 13 have made some progress and some 24 countries have made little or no progress, according to Tuesday’s report. “This report underscores the critical need for advancement in art and cultural property restitution,” Gideon Taylor, the president of WJRO, said in a statement. The 13 countries that have made some progress include Argentina, Belgium, Croatia, Greece, Hungary, Italy, Luxembourg, Norway, Poland and Serbia. Frederick Florin/AFP/Getty ImagesMost countries that signed onto the Terezin Declaration have made little or no progress, according to the report. This marks the first governmental document on Holocaust restitution to be endorsed in nearly 15 years, a step WJRO said will help advance the restitution of art and cultural property.

Persons: CNN —, —, restitutions, ” Gideon Taylor, WJRO, Frederick Florin, Antony J, Blinken, ”, Stuart E, “, Colette Avital Organizations: The Art, CNN, Jewish, Organization, Washington Conference, Washington, Palais Rohan Museum, Getty, WJRO, US State Department, of Holocaust Locations: Nazi, Austria, Czech Republic, France, Germany, Netherlands, Argentina, Belgium, Croatia, Greece, Hungary, Italy, Luxembourg, Norway, Poland, Serbia, Strasbourg, AFP, Australia, Brazil, Denmark, Ireland, Russia, Spain, Turkey, New York, Washington, Israel

☆ AI could disrupt the 2024 US presidential election. What’s Congress doing about it?
▼ + stars: | 2024-02-14 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

But with just nine months until Americans head to the ballot box, there are few signs Congress is ready to pass any meaningful legislation on AI. Alex Wong/Getty ImagesSchumer has previously said that with the election nearing, he may seek to fast-track a bill that focuses specifically on AI and election security. Nothing looks likely to move.”Initial momentum on AI regulationFor months, Congress has focused on getting up to speed on the basics of AI. Still other ideas would require “high-risk” AI models to register for a government license, or create a dedicated new federal agency to oversee AI. OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I.

Persons: Joe Biden, Chuck Schumer, Bill Gates, Mark Zuckerberg, Elon Musk, “, Schumer, Sen, Todd Young, Martin Heinrich, Michael Rounds, Alex Wong, New Mexico Democratic Sen, South Dakota Republican Sen, Mike Rounds, Indiana Republican Sen, didn’t, Paul Gallant, Cowen, ”, Gallant, we’re, Sam Altman, Altman, Heinrich, Rounds, Young, Julia Nikhinson, Sundar Pichai, Jensen Huang, Mike Johnson, Marcus Molinaro, Johnson, Drake, Tom Hanks, Tennessee Republican Sen, Marsha Blackburn, Hakeem Jeffries, Don Beyer, it’ll, Alan Davidson, Biden, Elizabeth Frantz, ” Davidson, —, Sarah Myers West Organizations: Washington CNN, mayoral, U.S, Senate, Capitol, Artificial Intelligence, “, CNN, New, New Mexico Democratic, South Dakota Republican, Indiana Republican, Cowen Inc, United, International Atomic Energy Agency, Intelligence, Reuters, Google, Nvidia, New York Republican, The Washington Post, Commerce, Tennessee Republican, ITI, Virginia Democratic Rep, State of, Republican, House Energy, European Union, EU, Congress, Commerce Department, White House, Privacy, Technology, Democrats, Federal Trade Commission Locations: Washington ,, New Mexico, South, Washington , U.S, Washington

☆ Morning Bid: Markets catch breath after bruising recoil
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +5 min

China's markets will also be disrupted by Golden Week holidays next week. Ten-year Treasury yields hit another 16-year high at 4.56% on Tuesday before dialling back a bit on Wednesday, with 10-year real yields hitting 14-year peaks at 2.24%. Risk spreads in junk bond and overseas sovereign bond markets are also creeping higher again, with exchange-traded U.S. junk bond funds hitting their lowest since May and Italy's government bond yield premium over Germany widening too. Worrying for many investors this week has been how bond yields have climbed despite weaker economic signals and how stock and bond losses are correlating again. World markets were more mixed, with China's bourses managing some gains ahead of the big holiday week.

Persons: Mike Dolan, Goldman Sachs, Jerome Powell's, Neel Kashkari, shakeout, Shorter, China's bourses, Michelle Bowman, Jane Merriman Organizations: Federal Reserve, Minneapolis Fed, Golden, Nasdaq, Big Tech, U.S . Federal Trade Commission, Costco, China Evergrande, HK, United, Treasury, Micron, Paychex Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Washington, Germany, United States

☆ Morning Bid: Bond crush stifles markets as $134 billion hits
▼ + stars: | 2023-09-26 | by ( ) www.reuters.com time to read: +6 min

The yield spike has supercharged the U.S. dollar worldwide - both a reflection and aggravator of mounting financial stress far and wide. As Deutsche Bank notes, this is historically significant territory as the average of the 10-year yield going back to 1799 is around 4.50%. The Treasury sells $48 billion in two-year notes on Tuesday, $49 billion in five-year paper on Wednesday and $37 billion in seven-year notes on Thursday. Minneapolis Fed Bank President Neel Kashkari said on Monday the Fed probably needs to raise borrowing rates further. Private sector bankers are starting to brace for the worst, with JP Morgan chief Jamie Dimon reported overnight as warning: "I am not sure if the world is prepared for 7% (Fed rates)."

Persons: Jose Luis Gonzalez, Mike Dolan, South Korea's, Sterling, haven't, Neel Kashkari, Said Kashkari, Austan Goolsbee, JP Morgan, Jamie Dimon, Christine Lagarde, China Evergrande, Michelle Bowman, Christina Fincher Organizations: REUTERS, Federal Reserve, U.S ., Bank of Japan, South, Treasury, Deutsche Bank, Minneapolis Fed, Chicago Fed, European Central Bank, ECB, Dallas Fed's, Chicago Fed's, HK, Richmond Fed, Dallas Fed, Philadelphia Fed, Costco, Cintas, Thomson, Reuters Locations: Ciudad Juarez, Mexico, U.S, Wall St, Asia, Europe, Philadelphia, Washington

☆ The US Senate is working to get up to speed on AI basics ahead of any legislation
▼ + stars: | 2023-06-07 | by ( Brian Fung | ) edition.cnn.com time to read: +4 min

The deliberate pace of progress contrasts with the blistering speed with which companies and organizations have embraced generative AI, and the flood of investment into the industry. “The Senate must deepen our expertise in this pressing topic,” Schumer wrote in a letter to colleagues announcing the briefings. Options include forming a select committee to craft a comprehensive AI bill, or “splitting out and having lots of different committees come up with different pieces of legislation,” Rounds said. Sen. Michael Bennet has introduced legislation to create a new federal agency with authority to regulate AI, for example. And on Wednesday, Sen. Josh Hawley unveiled his own framework for AI legislation that called for letting Americans sue companies for harms created by AI models.

Persons: Chuck Schumer, Schumer, “, ” Schumer, South Dakota Republican Sen, Mike Rounds, Rounds, New Mexico Democratic Sen, Martin Heinrich, Indiana Republican Sen, Todd Young — haven’t, ” Rounds, Sam Altman, Sen, Michael Bennet, Josh Hawley, ” Organizations: Washington CNN, guardrails, South Dakota Republican, Washington, New, New Mexico Democratic, Indiana Republican, National Defense Locations: New Mexico

CNN —Venezuela’s former opposition leader Juan Guaidó is visiting Washington this week, where he hopes to meet with the Biden administration, he told reporters on Tuesday during a surprise appearance at the Washington Conference on the Americas. Asked if he sought political asylum in the US, he said, “I am currently visiting. Guaidó landed in Miami the following day, after accusing Colombia of forcing him out of the country – a claim Colombian officials refuted. “We also hope to meet with the Biden administration – obviously it’s a critical moment for the region, especially Venezuela, a moment in which we are pressing to achieve a free election,” he said. The Biden administration loosened some sanctions against the Maduro government in 2022, and last November, it granted Chevron limited authorization to resume pumping oil from Venezuela.

☆ DOJ will hire more data experts to scrutinize digital monopolies, antitrust chief says
▼ + stars: | 2023-03-06 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —The Justice Department will expand its stable of data experts charged with analyzing how businesses use and abuse consumer data to violate US antitrust law, the agency’s antitrust chief told CNN in an onstage interview Monday. DOJ’s antitrust division plans to post additional job listings for data scientists and analysts, Assistant Attorney General Jonathan Kanter said at a Washington conference. Under Kanter, the division has already hired technologists and a chief economist with a background in computer science and machine learning. “A lot of the assumptions have been that consumers can discipline bad behavior [of a company] by switching. But if consumers don’t switch as easily as they used to, or if consumers are being nudged in one direction or another, that’s a market reality we need to understand.”

☆ Millions of seniors on Social Security are at risk of losing benefits this summer if the GOP doesn't raise the debt ceiling, Janet Yellen says
▼ + stars: | 2023-02-14 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Janet Yellen reiterated the consequences of failing to raise the debt ceiling. She said defaulting on the national debt could strip Social Security benefits from seniors and veterans. The GOP is currently negotiating a deal to raise the debt ceiling, including spending cuts. Janet Yellen told officials during a Washington conference that their constituents are greatly at risk if Congress fails to raise the debt limit by the summer. But Yellen has dismissed that idea on numerous occasions and remains committed to Congress lifting the debt limit once again.

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