The cost of services, a key metric that is closely watched by the Bank of England, however, slightly missed analysts’ expectations, coming in at 5.7 percent on the year versus market expectations of 5.5 percent. The Bank’s Monetary Policy Committee will meet on Thursday, where, due to the proximity of the upcoming election, it is all but certain to keep rates unchanged at 5.25 percent in order to not influence the political outcome. Pandemic-era dislocations brought inflation to the highest in decades, peaking at 11.1 percent in October 2022. It has been above the Bank’s 2 percent target for over…
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By now, all of us have heard and read a lot about artificial intelligence (AI). You’ve likely used some of the countless AI tools that are becoming available. For some, AI feels like a magic wand that predicts the future. But AI is not perfect. A supermarket meal planner in Aotearoa New Zealand gave customers poisonous recipes, a New York City chatbot advised people to break the law, and Google’s AI Overview is telling people to eat rocks. At its core, an AI tool is a particular system that addresses a particular problem. With any AI system, we should match…
It is now over two years since Russia launched its illegal and unprovoked war of aggression against Ukraine. The consequences of Putin’s war have been disastrous. In Kyiv last December, I met children learning to walk again having lost limbs in Russian attacks. I met two young girls rescued months after forced abduction by Russia. We mourn for over ten thousand civilians who have lost their lives in Ukraine; we share the concerns of parents of the twenty thousand children forcibly removed and still untraced, displaced from their families. The people of Russia- in particular soldiers’ mothers- suffer too. But…
The United States condemns the persistent efforts of Republika Srpska President Milorad Dodik to erode the regional peace frameworks that have brought stability and security to Bosnia and Herzegovina (BiH). Today, we are designating two individuals and seven entities that provide major sources of revenue for Dodik ’s patronage network and enable his corruption. U.S.-designated Milorad Dodik has used his official position to accumulate personal wealth through companies linked to himself and to his son, Igor Dodik. For instance, in 2024, Igor and Milorad exercised their control over senior BiH government officials to manipulate the draft BiH state budget so…
Late last night, Virgin Australia flight VA 148 set out from Queenstown in New Zealand bound for Melbourne. Not long after takeoff, the right engine of the Boeing 737-800 jet started emitting loud bangs, followed by flames. The pilot flew on with the remaining engine, bringing the plane’s 73 passengers and crew to a safe emergency landing at nearby Invercargill airport. Virgin Australia says the dramatic turn of events was caused by a “possible bird strike”. Queenstown Airport played down the likelihood of bird strike, saying “no birds were detected on the airfield at that time”. While we don’t know…
The current visit to Australia by China’s Premier Li Qiang may have taken the heat out of recent tensions between the two nations. But Australia remains embroiled with China in a tussle for influence in the Pacific – a fight in which climate ambition is key. That’s why, at a diplomatic level, we should be concerned about Opposition leader Peter Dutton’s suggestion the Coalition would abandon Australia’s 2030 emissions target should it win the next election. Such a move would be damaging on many levels. Not least, it would undermine Australia’s relations with our Pacific neighbours – nations that regard…
Today, Eurostat released the European Statistical Monitor, a dashboard with short-term indicators covering different areas, such as economy, environment, business, health and work. This monthly updated dashboard is designed to track developments within the EU as a whole and its members, as well as the EFTA countries, providing a holistic overview of key developments. It focuses on monthly and quarterly indicators, ensuring up-to-date insights and includes a commentary, focusing on recent changes and trends. June highlights: EU industrial production and economic sentiment increase, and unemployment remains stable, while inflation rises slightly EU industrial production increased month-on-month in April 2024, while…
The Commission launched today a targeted consultation and a workshop series to seek input from stakeholders on the use of artificial intelligence (AI) in finance. The initiatives cover use cases, benefits, barriers, risks and stakeholder needs.The consultation and workshops target all financial stakeholders. The input received will enable the Commission to provide guidance to the financial sector for the implementation of the AI Act, the EU’s legal framework for AI, in their specific market areas. Stakeholders are invited to respond to the consultation by 13 September 2024. Views are particularly welcome from companies that already provide or develop AI systems.Moreover, a series of workshops…
“Despite his busy schedule, the prime minister wanted to meet with President Radev during his official visit to Montenegro,” a Montenegrin government spokesperson told POLITICO. But Spajić’s earlier meeting “lasted three minutes longer than planned,” while the Bulgarian delegation “left the government building after four minutes of waiting,” the spokesperson said. The meeting would have been held in Villa Gorica, the government’s usual venue for meetings with foreign heads of state, but the facility was already being used by the president, the spokesperson added. “It is completely natural for the head of state to refuse a meeting for which the…
A survey in Hong Kong, Japan, South Korea, Taiwan and neighboring Vietnam finds many people don’t identify with a religion but say they believe in unseen beings, venerate ancestors’ spirits and engage in ritual practices A man burns joss sticks in a cemetery during the Ching Ming Festival, or Grave Sweeping Day, in Hong Kong. (Anthony Wallace/AFP via Getty Images) By some measures, East Asia seems like one of the least religious regions in the world. Relatively few East Asian adults pray daily or say religion is very important in their lives. And rates of disaffiliation – people leaving religion…