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Underscoring the frustration, Economy Minister Robert Habeck, a member of the pro-spending Greens, called the verdict "a huge blow to industrial policy". Speaking to parliament, Habeck warned the court ruling put at risk support for the steel sector, which is counting on subsidies to decarbonise and stay competitive. Finance Minister Christian Lindner meanwhile said it was too early to discuss the consequences of the court ruling. "The steel industry alone can contribute to reducing a third of total industrial emissions - and thus has enormous leverage to save millions of tons of CO2 in the coming years." "The political bottom line is that many coalition disputes will reopen as serious budget constraints kick in.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, BERLIN, Wednesday's, Chancellor Olaf Scholz, Habeck, Yesenn, DBRS Morningstar, hawkish Lindner, Lindner, Bernhard Osburg, Carsten Brzeski, Eurointelligence, Maria Martinez, Christian Kraemer, Andreas Rinke, Markus Wacket, Tom Kaeckenhoff, Matthias Williams, Alexandra Hudson, Susan Fenton Organizations: Finance, Climate, Economy, Greens, CHANGE, Budget, European Central Bank, Thomson Locations: United States, Berlin, Germany

[1/3] FILE PHOTO: German Chancellor Olaf Scholz looks on as he meets NATO's Secretary General Jens Stoltenberg in Berlin, Germany, November 9, 2023. Wednesday's decision by the constitutional court could also set a precedent for fiscal responses to future crises. "FAR-REACHING CONSEQUENCES""The court ruling has far-reaching consequences for fiscal policy in Germany," said Clemens Fuest, President of the Ifo economic institute. This was done with the Second Supplementary Budget Act 2021, which retroactively amended the Budget Act for 2021. The constitutional court ruled that this act was incompatible with Germany's Basic Law and so was void.

Persons: Olaf Scholz, Jens Stoltenberg, Liesa, Chancellor Olaf Scholz's, Christian Lindner, Lindner, Scholz, Robert Habeck, Clemens Fuest, Ralph Solveen, Habeck, Friedrich Merz, Maria Martinez, Christian Kraemer, Ursula Knapp, Matthias Williams, Kirsti Knolle, Madeline Chambers, Susan Fenton, William Maclean, Catherine Evans Organizations: REUTERS, Rights, Finance, Union, Social Democrats, Free Democrats, Christian Democratic Union, Thomson Locations: Berlin, Germany, Ukraine

A steel worker of ThyssenKrupp stands amid sparks of raw iron coming from a blast furnace at a ThyssenKrupp steel factory in Duisburg, western Germany, November 14, 2022. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing RightsBERLIN, Nov 7 (Reuters) - German industrial production fell more than expected in September, data showed on Tuesday, as a recent slump in incoming orders took its toll on production. There are few figures that summarise the state of the German economy as well as industrial production, Thomas Gitzel, chief economist at VP Bank, said. "The industry-heavy German economy is dependent on production in order to achieve reasonable economic growth rates," he said, noting that industrial production this year has been weak. "Even though there isn’t any hard data for the fourth quarter yet, recent developments have clearly increased the risk that the German economy will end the year in recession," Brzeski said.

Persons: Wolfgang Rattay, Thomas Gitzel, Carsten Brzeski, Brzeski, Maria Martinez, Miranda Murray, Rachel More Organizations: REUTERS, Rights, Reuters, VP Bank, ING, Thomson Locations: ThyssenKrupp, Duisburg, Germany

And now Ben Hammou faces another blow as the German government moves to end pandemic-era tax breaks for the hospitality industry. The fiscally hawkish FDP party, which has control of the finance ministry in the three-way ruling coalition, backs letting the tax break expire, calculating that it would cost 3.3 billion euros ($3.5 billion) to keep it going in 2024. Many restaurants operate on tight margins, which makes them quite sensitive to tax increases. In Spain, Italy and France, the VAT on restaurants is at 10%, considerably lower than the expected 19% in Germany from 2024. The question is whether German restaurants are still struggling or have recovered well enough from the pandemic to withstand having the tax break removed, according to Tomas Dvorak, senior economist at Oxford Economics.

Persons: Omar Ben Hammou, Ben Hammou, Christian Lindner, Guido Zoellick, Thijs Geijer, Ingrid Hartges, DEHOGA, Steffen Marx, Tomas Dvorak, Maria Martinez, Christian Kraemer, Tanja Daube, Ulrike Heil, Belen Carreno, Giselda Vagnoni, Thomas Leigh, Matthias Williams, Hugh Lawson Organizations: Restaurant Association, ING, Reuters, Oxford Economics, Thomson Locations: Bavaria, BERLIN, Berlin, Russia, Ukraine, COVID, Spain, Italy, France, Germany, Munich, Madrid, Rome, Paris

Looking ahead, the ongoing pass-through of the European Central Bank's monetary policy tightening, still no reversal of the inventory cycle and new geopolitical uncertainties will continue weighing on the German economy, Brzeski said. "The German economy looks set to remain in the twilight zone between minor contraction and stagnation not only this year but also next year," Brzeski said. The contraction in the third quarter is not seen as an outlier as Commerzbank expects the German economy to contract again in the winter half-year. Economists will pay close attention to national inflation data from Germany and Spain, as they are published one day before the euro zone inflation data release. Euro zone inflation is expected to ease to 3.2% in October from 4.3% in September, according to economists polled by Reuters.

Persons: Arnd, Carsten Brzeski, Brzeski, optimists, Joerg Kraemer, Claus Vistesen, Maria Martinez, Miranda Murray, Rachel More, Miral Fahmy, Angus MacSwan Organizations: REUTERS, Rights, Gross, Reuters, ING, European Central, Macroeconomics, Thomson Locations: Konstanz, Germany, Spain

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. Italy's 2.4 trillion-euro debt pile is the focus in Europe, where the IMF has said high debt leaves governments vulnerable to crisis. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis.

Persons: Andrew Kelly, Peter Praet, Praet, Sophia Drossos, Daniel Ivascyn, Claudio Borio, Olivier Blanchard, Ray Dalio, Janet Yellen's, Yellen, Jim Leaviss, Giancarlo Giorgetti, Daleep Singh, Joe Biden, Britain's, Yellen's, Jonathan Portes, Clare Lombardelli, Moritz Kraemer, Yoruk Bahceli, Maria Martinez, Leigh Thomas, Giuseppe Fonte, Nell Mackenzie, Naomi Rovnick, William Schomberg, Jan Strupczewski, Dan Burns, Elisa Martinuzzi, Riddhima Talwani, Jayaram, Emelia Sithole Organizations: Financial, of, REUTERS, Institute of International Finance, Reuters, European Central Bank, ECB, Bank for International, Peterson Institute for International Economics, Associates, U.S . Treasury, Wall, Economy, Britain's Treasury, Congressional, Britain's, Institution, Reuters Graphics ACT, King's College London, Labour Party, OECD, Graphics, Thomson Locations: of Manhattan , New York City, U.S, Italy, Britain, United States, Europe, Ukraine, Berlin, Paris, Rome, London, Brussels, Washington, Marrakech

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis. Not enough reforms are being implemented, OECD chief economist Clare Lombardelli warned.

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

The Hamas terrorist attack on Israel is reprehensible. Israel is under heavy attack right now by Hamas and taking action to defend itself and its people. Israel has every right to defend itself.”Sen. Jon Tester, Montana Democrat“I strongly condemn the terrorist attacks launched by Hamas against our ally Israel. I will continue to closely monitor the situation.”Sen. Maggie Hassan, New Hampshire Democrat“Hamas’s terrorist attack on Israel is nothing short of horrifying. Israel has every right to defend itself from this unjust war.”Sen. Ron Wyden, Oregon Democrat“The terrorist attack on Israel is appalling.

Persons: Hakeem Jeffries, “, Steve Scalise, ” Kevin McCarthy, ” Chuck Schumer, –, Herzog –, ” Mitch McConnell, ” Tom Emmer, ” Katherine Clarke, ” Dick Durbin, ” John Thune, ” Sen, Debbie Stabenow, Michigan Democrat “, Israel, Amy Klobuchar, Mark Warner, Elizabeth Warren, Massachusetts Democrat “, Bernie Sanders, Cory Booker, Cory Booker , New Jersey Democrat “, Joe Manchin, West Virginia Democrat “, Tammy Baldwin, Wisconsin Democrat “, Gary Peters, Gary Peters , Michigan Democrat “, Catherine Cortez Masto, Brian Schatz, Hawaii Democrat “, Jeff Merkley, Oregon Democrat “, John Barrasso, Joni Ernst, Iowa Republican “, Sen, Shelley Moore Capito, West Virginia Republican “, Steve Daines, Montana Republican “, Mike Lee, Mike Crapo, Chuck Grassley, Tommy Tuberville, Katie Britt, Lisa Murkowski, Dan Sullivan, Kyrsten, Mark Kelly, John Boozman, Tom Cotton, Arkansas Republican “, Alex Padilla, Laphonza Butler, California Democrat “, today’s, Michael Bennet, Colorado Democrat “, John Hickenlooper, Richard Blumenthal, Connecticut Democrat “, Chris Murphy, Tom Carper, Delaware Democrat “, Chris Coons, Marco Rubio, Rick Scott, Jon Ossoff, Georgia Democrat “, Anat Sultan, Raphael Warnock, “ I’m, Mazie, Tammy Duckworth, Todd Young, Mike Braun, Jerry Moran, Kansas Republican “, Hamas’s, Roger Marshall, Netanyahu, Rand Paul, Kentucky Republican “, Bill Cassidy, John Kennedy, Susan Collins, Maine Republican “, Ben Cardin, Maryland Democrat “, Chris Van Hollen, Ed Markey, Tina Smith, Minnesota Democrat “, Roger Wicker ,, Roger Wicker , Mississippi Republican “, Cindy Hyde, Josh Hawley, Eric Schmitt, Jon Tester, Montana Democrat “, Deb Fischer, Nebraska Republican “, Pete Ricketts, Jacky Rosen, Nevada Democrat “, Jeanne Shaheen, Jeanne Shaheen , New Hampshire Democrat “, Maggie Hassan, Maggie Hassan , New Hampshire Democrat “, Bob Menendez, Bob Menendez , New Jersey Democrat “, Martin Heinrich, New Mexico Democrat “, Biden, Ben Ray Lujan, Kirsten Gillibrand, New York Democrat “ I'm, Thom Tillis, Ted Budd, North Carolina Republican “, John Hoeven, John Hoeven , North Dakota Republican “, Kevin Cramer, Sherrod Brown, Ohio Democrat “, J.D, ”, Vance, James Lankford, Markwayne Mullin, Israel –, Ron Wyden, Bob Casey, John Fetterman, craven, Jack Reed, Sheldon Whitehouse, Lindsey Graham, Tim Scott, South Carolina Republican “ I’m, Mike Rounds, South Dakota Republican “ Shocked, Marsha Blackburn, Marsha Blackburn , Tennessee Republican “ Israel, Bill Haggerty, Tennessee Republican “, John Cornyn, John Cornyn , Texas Republican “, Ted Cruz, Mitt, Vile, Peter Welch, Vermont Democrat “, Tim Kaine, Patty Murray, Washington Democrat “, Maria Cantwell, Ron Johnson, Wisconsin Republican “ Israel, Cynthia Lummis, Wyoming Republican “, Jim Jordan, Jared Moskowitz, Abigail Spanberger, Elissa Slotkin, Don Bacon, perpetrating, Cori Bush, Missouri Democrat “, Kevin Hern, Kevin Hern , Oklahoma Republican “, ” Rep, Ritchie Torres, Ritchie Torres , New York Democrat “, Michael McCaul, Michael McCaul , Texas Republican “ I, Ilhan Omar Organizations: Palestinian, Hamas, Biden, House, Michigan Democrat, Minnesota Democrat, Virginia Democrat “, Senate Intelligence, Massachusetts Democrat, Islamic, Cory Booker , New, Cory Booker , New Jersey Democrat, West Virginia Democrat, Wisconsin Democrat, Gary Peters , Michigan Democrat, Nevada Democrat, Hawaii Democrat, State, Oregon Democrat, John Barrasso , Wyoming Republican, Iowa Republican, West Virginia Republican, Montana Republican, Utah Republican, Idaho Republican, Alabama Republican, Alaska Republican, Alaska Republican “, Arizona Democrat, John Boozman , Arkansas Republican “, Jewish, Arkansas Republican, California Democrat, Colorado Democrat, Connecticut Democrat, Delaware Democrat, Israel, Florida Republican, Georgia Democrat, Hawaii Democrat “, Indiana Republican, Indiana Republican “, Kansas Republican, Kentucky Republican, Louisiana Republican, Maine Republican, Maryland Democrat, Roger Wicker , Mississippi Republican, Smith , Mississippi Republican, Josh Hawley , Missouri Republican, Missouri Republican, Montana Democrat, Nebraska Republican, Jeanne Shaheen , New, Jeanne Shaheen , New Hampshire Democrat, Maggie Hassan , New Hampshire Democrat, Bob Menendez , New, Bob Menendez , New Jersey Democrat, New Mexico Democrat, New, New York Democrat, United, North Carolina Republican, John Hoeven , North Dakota Republican, Kevin Cramer , North Dakota Republican “, Ohio Democrat, Vance , Ohio Republican, James Lankford , Oklahoma Republican, Oklahoma Republican, “ Hamas, Rhode, Lindsey Graham , South Carolina Republican, South Carolina Republican, South Dakota Republican, Marsha Blackburn , Tennessee Republican, Tennessee Republican, John Cornyn , Texas Republican, Ted Cruz , Texas Republican, Vermont Democrat, Washington Democrat, Wisconsin Republican, Wyoming Republican, ”, Ohio Republican “, Missouri Democrat, Kevin Hern , Oklahoma Republican, Ritchie Torres , New, Ritchie Torres , New York Democrat, Jewish State, Michael McCaul , Texas Republican Locations: Israel, United States, Tehran, The United States, Iran, Michigan, U.S, Minnesota, Massachusetts, Vermont, Cory Booker ,, Cory Booker , New Jersey, West Virginia, Wisconsin, Gary Peters , Michigan, Nevada, Hawaii, Oregon, John Barrasso , Wyoming, America, Iowa, West, Montana, Iranian, Utah, Idaho, Alabama, Alaska, Alaska Republican “ America, @Israel, Kyrsten Sinema, Arizona, John Boozman , Arkansas, Jewish State, Arkansas, Saudi Arabia, California, Gaza, Colorado, Connecticut, Delaware, Florida, Georgia, Mazie Hirono, Illinois, Kansas, Kentucky, Louisiana, Maine, Maryland, Palestine, Roger Wicker , Mississippi, Smith , Mississippi, Josh Hawley , Missouri, Missouri, Nebraska, Jeanne Shaheen ,, Jeanne Shaheen , New Hampshire, Maggie Hassan , New Hampshire, Bob Menendez ,, Bob Menendez , New Jersey, New Mexico, New York, North, John Hoeven , North, Kevin Cramer , North, Ohio, Vance , Ohio, James Lankford , Oklahoma, Oklahoma, Pennsylvania, Rhode Island, Lindsey Graham , South, South, States, Marsha Blackburn , Tennessee, Tennessee, John Cornyn , Texas, Ted Cruz , Texas, Mitt Romney, Virginia, “ Hamas, Washington, Wyoming, Ohio Republican “ America, Kevin Hern , Oklahoma, Ritchie Torres ,, Ritchie Torres , New York, Michael McCaul , Texas

Since 1949, all female recruits have gone through boot camp at the South Carolina base; the 4th Battalion was created in 1986 as the women's unit. Inside the pool, men and women struggle side by side, jumping off a platform and swimming to the other end. Some measure of all-male companies would be necessary no matter what because there just are not enough female recruits to go around. The split, she said, divided them into “male Marines” and “female Marines,” and that shaped the men’s view of the women and made it more difficult for them to work together as they moved along. Young female recruits, who usually come from high schools where there is little separation, acknowledge the differences but voice no complaints.

Persons: Marine Base Parris, “, —, It's, Ash Carter, Carter, stridently, it's, Walker Field, ”, We’re, Aixa Dones, Dones, Maria Torres, Erin Kirk, Kirk, Nicole Momura, Nubia Delatorre, “ We’re, Delatorre Organizations: Marine Base, Marine Corps, Marines, Recruit, 4th Battalion, Marine, Corps, Brig, Marine Recruit, “, Bravo Company Locations: PARRIS, Parris, South Carolina, Gen, San Diego

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

☆ Crimea: Satellite imagery indicates Russia moving navy ships to other ports after Sevastopol attacks
▼ + stars: | 2023-10-05 | by ( Tim Lister Anna Chernova Gianluca Mezzofiore. Maria Kostenko Paul Murphy | Tim Lister | Anna Chernova | ) edition.cnn.com time to read: +4 min

As many as a dozen ships, including frigates, landing ships and submarines now appear to be moored further east at Novorossiysk, imagery from the past few weeks showed. the home port of the Black Sea Fleet. BlackSkyThe ISW noted that satellite imagery taken on October 2 shows four Russian landing ships and one Kilo-class submarine remaining in Sevastopol. Dmytro Pletenchuk, a spokesman for the Ukrainian Navy, said Thursday that the Black Sea Fleet was “constantly dispersing its ships. They are guarding this facility from the north and from the south.”Even so, Pletenchuk said, “I would not write off the Black Sea Fleet.

Persons: Makarov, Admiral Essen, Dmytro Pletenchuk, ” Pletenchuk, Pletenchuk, “, ”, Aslan Bzhania, ” Bzhania Organizations: CNN, Black, Technologies, Fleet, Ukrainian Navy, Border Guard Service, Sea Fleet, Russian Navy, Reuters Locations: Russia, Sevastopol, Crimea, Moscow, Georgia, Novorossiysk, Feodosia, Technologies Ukraine, Ukraine, Azov, Russian, BlackSky, ”, Abkhazia, Ochamchira

Once she is sworn in, Butler will be the only Black woman in the Senate and the first openly LGBTQ+ California senator. That, alongside her background in the labor and women's rights movements, helps harden Newsom’s ties to important national Democratic constituencies. She is expected to be sworn in Tuesday in Washington by Harris, the last Black woman to serve in the Senate. At the time, Newsom was under pressure to select a Black woman to fill the seat of Harris, who is Black. His choice of Padilla, the state’s first Latino senator, rankled Black leadership in the state who saw the seat as their own.

Persons: Gavin Newsom, Dianne Feinstein, Laphonza Butler, Butler, Newsom, Butler's, “, Kamala Harris's, ”, Jack Pitney, Katie Porter, Adam Schiff, Barbara Lee, haven’t, Bill Essayli, Harris, Lee, Feinstein, snubbing Lee, Sen, Steven Bradford, ” Aimee Allison, “ Laphonza, Arnuflo De, Arnuflo De La Cruz, Jerry Brown, La Cruz, ” De La Cruz, Maria Elena Durazo, ” Durazo, ” Butler, Uber, Alex Padilla, Padilla, rankled, ___ Organizations: ANGELES, California Gov, Senate, Democratic, workaday Democratic, Claremont McKenna College, House Democrats, California Legislative Black Caucus, Gov, Los Angeles Federation of Labor Locations: U.S, California, San Francisco, Washington, Arnuflo De La, Sacramento

Gavin Newsom signed a law Saturday to bolster eviction protections for renters and close a loophole in an existing law that has allowed landlords to circumvent the state’s rent cap. The move updates a 2019 landmark law that created rules around evictions and establishing a rent cap at 5% plus the inflation rate, with a 10% maximum. Under the 2019 law, landlords can evict tenants for “at fault” or “no fault” reasons. Renters’ advocates said some landlords have exploited the “no fault” evictions to get around the state’s rent cap. Under the new law, landlords moving into their units or renting to family also must identify the people moving in.

Persons: —, Gavin Newsom, ’, ”, Michelle Pariset, Sen, María Elena Durazo Organizations: Democratic, Public Locations: SACRAMENTO, Calif, Santa Clara

"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

☆ Rep. Maria Elvira Salazar: Republicans agree funds need to be cut, but can't agree on how
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Maria Elvira Salazar: Republicans agree funds need to be cut, but can't agree on howHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Maria Elvira Salazar, Brian Sullivan, “ Organizations: CNBC

☆ Biden teases forthcoming executive order on AI
▼ + stars: | 2023-09-27 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

CNN —The White House plans to introduce a highly anticipated executive order in the coming weeks dealing with artificial intelligence, President Joe Biden said Wednesday. Biden’s signing of the order would build on an earlier administration proposal for an “AI Bill of Rights.” Civil society groups have urged the Biden administration to require federal agencies to implement the AI Bill of Rights as part of any executive order on the technology. Meanwhile, the US Senate is continuing to educate lawmakers on artificial intelligence in preparation for months of legislative work on the issue. “Vast differences exist among them in terms of what potential it has, what dangers there are, and so, I have a keen interest in AI,” Biden said. The meeting also saw presidential advisers showcasing to Biden several use cases for artificial intelligence.

Persons: Joe Biden, I’m, ” Biden, Biden, he’s, “ I’ve, ”, Maria Zuber Organizations: CNN, White, Presidential, Advisors, Science, Technology, United, Biden Locations: America, United States, United Kingdom

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

☆ Elon Musk, Mark Zuckerberg, Bill Gates and other tech leaders in closed Senate session about AI
▼ + stars: | 2023-09-13 | by ( Lauren Feiner | ) www.cnbc.com time to read: +8 min

Senate Majority Leader Chuck Schumer, D-N.Y., hosted the panel of tech executives, labor and civil rights leaders as part of the Senate's inaugural "AI Insight Forum." Google CEO Sundar Pichai, arrives for a US Senate bipartisan Artificial Intelligence (AI) Insight Forum at the US Capitol in Washington, DC, on September 13, 2023. Working toward legislationSchumer said in his prepared remarks that the event marked the beginning of "an enormous and complex and vital undertaking: building a foundation for bipartisan AI policy that Congress can pass." Successful legislation will need to be bipartisan, Schumer added, saying he'd spoken with House Speaker Kevin McCarthy, R-Calif., who was "encouraging." Sen. Maria Cantwell, D-Wash., who leads the Commerce Committee, predicted lawmakers could get AI legislation "done in the next year."

Persons: Elon Musk, Alex Karp, Chuck Schumer, Leah Millis, CNBC's Eamon Javers, Sens, Mike Rounds, Martin Heinrich, Todd Young, Schumer, Sam Altman, Eric Schmidt, Mark Zuckerberg, Sundar Pichai, Jensen Huang, Satya Nadella, Arvind Krishna, Bill Gates, Charles Rivkin, Liz Shuler, Meredith Steihm, Randi Weingarten, Maya Wiley, CIO's Shuler, Musk, Shuler, Sen, Pichai, Mandel Ngan, Meta's Zuckerberg, Meta, Julia Nikhinson, Reuters Schumer, Kevin McCarthy, he'd, Young, Maria Cantwell, Altman, We're, Elon Organizations: Intelligence, Senate, U.S, Capitol, Reuters Tech, Microsoft Nvidia, IBM, Microsoft, Former, Tesla, Meta, Nvidia, Federation of Teachers, Civil, Human Rights, AFL, Artificial Intelligence, AFP, Getty, EU, Reuters, Chinese Communist Party, Commerce, Science, CNBC, YouTube Locations: Washington , U.S, U.S, Washington ,, Washington, deepfakes

☆ Gen Z is giving up on college
▼ + stars: | 2023-09-05 | by ( Charlotte Lytton | ) www.businessinsider.com time to read: +11 min

"The world is rapidly evolving — and so is the college experience." Srivastava is one of a soaring number of Gen Zers who has decided to skip college altogether. The widening gap between the value and the cost of college has started to shift Gen Z's attitude toward higher education. They're not as interested in the typical "college experience" — whiling away four years rooming with friends and drinking at frat parties. But other members of Gen Z are taking a hard look at the "essence" of college.

Persons: Rushil Srivastava, you'll, Srivastava, he's, Gen Zers, haven't, millennials, Gen Xers, Nora Taets, James Connor, Connor, they're, —, Richard Saller, Saller, COVID, Meghan Reinhold, Reinhold, hasn't, María Gorgojo, Gen Z, Gen, Charlotte Lytton Organizations: UC Berkeley, Pew Research Center, Higher Education Authority, Pew, Iowa State University, of Computing, Data Science, Society ., School of Business, Information Technology, San Francisco Bay University, Harvard, Marymount University, Stanford University, Miami University of Ohio, Arizona State Locations: San, San Francisco, Silicon, COVID, Berkeley, Arizona, London

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

☆ AI is going to eliminate way more jobs than anyone realizes
▼ + stars: | 2023-08-14 | by ( Emil Skandul | ) www.businessinsider.com time to read: +16 min

We didn't see the internet coming, but AI is within viewThe adoption of groundbreaking technology is often hard to predict. The World Economic Forum estimated 83 million jobs worldwide would be lost over the next five years because of AI, with 69 million jobs created — that leaves 14 million jobs that will cease to exist during that timeframe. In the US, the knowledge-worker class is estimated to be nearly 100 million workers, one out of three Americans. The small and large compounding effects of productivity growth across many industries are central to the growth trajectory and the long-run effects of AI. This is an alarmingly trivial amount for an economy of $25 trillion GDP and over 150 million workers.

Persons: Goldman Sachs, Joseph Schumpeter, Bill Gates, David Letterman, Paul Krugman, Erik Brynjolfsson, —, Brynjolfsson, Robert Solow, Robert Gordon, provocatively, It's, Gordon, David Autor, Maria Flynn, Flynn, –, Georgia –, Emil Skandul, Tony Blair Organizations: McKinsey, Newsweek, Stanford University, Microsoft, Amazon, Cisco, Economic, International Labor Organization, Organization for Economic Co, Development, MIT, Congressional, Office, Department of Labor, Tony Blair Institute Locations: Washington, Singapore, New York, Georgia

☆ Homes for Sale in New York and New Jersey
▼ + stars: | 2023-08-10 | by ( Jill P. Capuzzo | Claudia Gryvatz Copquin | ) www.nytimes.com time to read: +1 min

Maria Hayes, Diane Turton Realtors, 718-702-2048, dianeturton.comCostsTaxes: $16,464 a yearProsThe unfinished basement includes a temperature-controlled wine cellar that can hold 2,000 bottles. The house is just up the street from the Manasquan River Golf Club. Despite the name of the road it is on, this house is well inland from the ocean and has no water views. Given the fast pace of the current market, some properties may no longer be available at the time of publication. For weekly email updates on residential real estate news, sign up here.

Persons: Maria Hayes, Diane Turton Organizations: Diane Turton Realtors, Golf Locations: Monmouth, Brielle, N.J

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