1+ hour, 25+ min ago (262+ words) DUBLIN (Reuters) -The European Union needs to revamp how it spends money to revive growth, curbing state aid and redirecting funds towards "public goods" that will be critical for future growth, Dutch central bank chief Olaf Sleijpen said on Tuesday. European growth has been stuck at anaemic levels for years and policymakers have been debating possible reforms to revive a bloc that is quickly falling behind global peers and already badly trails on investment into artificial intelligence, a dominant theme for the years ahead. "The EU budget is still focused on the economy of the past, and not so much on providing the public goods that are necessary for the economy of the future," Sleijpen, one of the newest members of the ECB's rate-setting Governing Council, said in Dublin. "Agricultural subsidies and cohesion funds together account for more than two-thirds…...

1+ hour, 49+ min ago (152+ words) (Reuters) -An earthquake of magnitude 5.5 struck Japan's Kyushu region on Tuesday, the German Research Center for Geosciences (GFZ) said. The quake was at a depth of 10 km (6.21 miles), GFZ said. (Reporting by Dheeraj Kumar in Bengaluru; Editing by An... Earthquake of magnitude 5.5 strikes Japan's Kyuhsu region, GFZ says (Reuters) -An earthquake of magnitude 5.5 struck Japan's Kyushu region on Tuesday, the German Research Center for Geosciences (GFZ) said. The quake was at a depth of 10 km (6.21 miles), GFZ said. (Reporting by Dheeraj Kumar in Bengaluru; Editing by Andrew Cawthorne) Earthquake of magnitude 5.5 strikes Japan's Kyuhsu region, GFZ says (Reuters) -An earthquake of magnitude 5.5 struck Japan's Kyushu region on Tuesday, the German Research Center for Geosciences (GFZ) said. The quake was at a depth of 10 km (6.21 miles), GFZ said. (Reporting by Dheeraj Kumar in Bengaluru; Editing by Andrew Cawthorne)...

1+ hour, 57+ min ago (149+ words) BRUSSELS (Reuters) -The European digital rule-book is not up for negotiation, European Commission Vice President Teresa Ribera said in response to comments made by U.S. Commerce Secretary Howard Lutnick. Lutnick on Monday said that the European Union... BRUSSELS (Reuters) -The European digital rule-book is not up for negotiation, European Commission Vice President Teresa Ribera said in response to comments made by U.S. Commerce Secretary Howard Lutnick. Lutnick on Monday said that the European Union should make its regulation of the tech sector more "balanced" in exchange for a reduction of U.S. tariffs on steel and aluminium imports from the bloc. "We, Europeans, have adopted our rules to ensure fair markets and to protect consumers rights'It's our duty to preserve our values and to defend our people," Ribera said on Monday evening. (Reporting by Charlotte Van Campenhout, Yun Chee Foo, Editing by Kirsten Donovan)...

1+ hour, 58+ min ago (193+ words) (Reuters) -Facebook parent Meta is in discussions with Alphabet's Google to spend billions on using Google's AI chips in its data centers from 2027 and to rent chips from Google Cloud by next year, The Information reported on Monday. Google has pitched tensor processing units, or TPUs, as a cheaper alternative to Nvidia chips, useful for firms seeking higher security standards, the report said, adding that Google has discussed aiming for 10% of Nvidia's revenue with its TPU chip business. The TPUs, available for rent on Google Cloud, serve as an alternative to supply-constrained Nvidia chips. Meta, Google and Nvidia did not immediately respond to requests for comment. Reuters could not immediately verify the report. Meta announced earlier this year it will invest $600 billion in U.S. infrastructure and jobs over the next three years, including AI data centers. The company has been one…...

2+ hour ago (205+ words) BERLIN (Reuters) -Germany's innovation capacity is stagnating, with the country remaining stuck at 12th place in an innovation ranking while competitors including the United States, Britain and France make significant gains, a study showed on Tuesday. A key problem is that Germany's corporate research and development spending at home is growing less dynamically than in other nations, especially in digitalization, where it lags behind the U.S. and China. The ranking, which has analysed the innovation capacity of major economies since 2005, is again led by smaller, highly specialized nations: Switzerland in first position, Singapore in second and Denmark in third. Germany ranks fourth in key technologies overall and is among the top five in four of seven technology fields including circular economy, new materials and new production technologies. But in key future-oriented fields, Germany has fallen behind: Seventh in digital hardware, 10th in digital…...

2+ hour, 18+ min ago (179+ words) GENEVA (Reuters) -The two-year Gaza war and economic restrictions have triggered an unprecedented collapse in the Palestinian economy, wiping out decades of growth, a United Nations report said on Tuesday. "Extensive damage to infrastructure, productive assets and public services has reversed decades of socioeconomic progress in the Occupied Palestinian Territory," according to the report by the United Nations trade and development agency (UNCTAD). The Palestinian GDP per capita by the end of last year returned to that of 2003, erasing 22 years of development progress, it added. The resulting economic crisis is among the ten worst globally since 1960, the report said. The scale of the damage in Gaza after the two-year war between Israel and Hamas means the enclave will be reliant on extensive international support and recovery could still take decades, the report said. The West Bank is also suffering its…...

2+ hour, 29+ min ago (424+ words) SYDNEY (Reuters) -Australian food delivery workers are on course to gain minimum pay levels after Uber Eats and DoorDash struck a deal with the country's transport union that is being hailed as a world first. Under a draft agreement released on Tuesday, their workers would earn at least A$31.30 ($20.19) per hour. That represents an increase of about 25% for some couriers who are paid per delivery and not how long they have worked. The deal would put them on par with the minimum wage earned by Australian casual workers. If approved by the Fair Work Commission, the agreement will go into effect next July. "For too long gig workers fell through the cracks," Employment Minister Amanda Rishworth said in a statement. "We didn't think it was fair that these workers missed out on minimum standards, and had to rely on tips…...

2+ hour, 35+ min ago (356+ words) (Reuters) " German home prices will rise around 3% annually over the coming years, according to property analysts polled by Reuters, outstripping overall inflation and further stretching affordability for first-time buyers. Home prices fell 13% between early 2022 and 2024, the biggest slump in more than a decade, but have risen 3.3% on average during the first half of this year. Consumer inflation averaged 2.3% during the same period. While still 9% below their 2022 peak, average house prices are forecast to increase 3.5% in 2025, 3.4% in 2026 and 3.2% in 2027, according to the November Reuters poll of 13 property analysts. The outlook, little changed from a September poll, suggests property price rises will continue to outpace inflation, which is expected to average around 2% over the same period. The European Central Bank is expected to leave interest rates unchanged at least until the end of 2026, a separate Reuters poll showed. It has already reduced…...

3+ hour, 2+ min ago (685+ words) (Reuters) -Russia's depressed car market has shown weak signs of recovery as 2025 draws to an end, but is set to hit near-record lows early next year as higher scrappage fees drive up prices, dealers and experts say. Far from signalling a genuine rebound, a jump in sales of new cars in October reflects a rush by buyers to complete purchases before the higher charges kick in, they say. The outlook highlights the structural crisis in Russia's auto sector that goes back to the full-scale invasion of Ukraine in 2022. Once seen as one of Europe's most promising markets, with potential sales of up to 4 million cars a year, it has been battered by the exit of Western manufacturers and by years of high interest rates that have pushed up the cost of car loans. The wider Russian economy has also slowed…...

3+ hour, 13+ min ago (283+ words) (Reuters) -Britain's Domino's Pizza said on Tuesday that CEO Andrew Rennie has stepped down, marking another senior departure as the company shifts strategy to tackle weak sales and rising costs. The chain, which operates under the umbrella of U.S.-based Domino's Pizza in the UK and Ireland, is expanding beyond pizzas to boost growth, with a new fried chicken sub-brand, Chick "N' Dip, and introducing healthier pizza options. The group said Chief Operations Officer Nicola Frampton will hold Rennie's position on an interim basis. Shares of the company fell 2.3% to 167.1 pence by 0846 GMT. During his more than two-year tenure at Domino's UK, Rennie prioritised repairing strained franchisee relationships, strengthening the supply chain and driving a digital transformation. These efforts helped the pizza chain secure market share in online delivery and improve customer loyalty. Despite these gains, the stock has dropped about…...