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Eurozone current account surplus rises to €32B in MayThe euro area recorded a current account surplus of €32 billion in May, up from €19 billion in April, according to data released by the European Central Bank on Thursday.The monthly rise was fueled by surpluses of €33 billion in goods, €13 billion in services, and €2 billion in primary income, partly offset by a €16 billion deficit in secondary income.Over the 12 months to May, the surplus totaled €333 billion, representing 2.1% of the eurozone's GDP, down from €364 billion the year prior.
[...] Vamos, que una stablecoin es un banco. Un banco irregular. Un banco sin fondo de garantía de depósitos [...]
Fed's Goolsbee: Tariffs pushing up goods inflationFederal Reserve Bank of Chicago President Austan Goolsbee said Friday that he is "a little wary" because the most recent CPI data indicated that tariffs were driving up goods inflation."It pains me to see arguments about central bank independence," he told the Daily Wire Podcast while adding that interest rates could drop by a "fair bit" during the course of the upcoming year.
EU prepares list of potential tariffs on US servicesBrussels is also considering export controls if trade talks with Washington failThe European Commission is assembling a list of measures as part of its retaliation package against Donald Trump’s tariffs © AFP/Getty ImagesThe EU is preparing a list of potential tariffs on US services, as well as export controls, as part of its possible retaliation if trade talks with Washington fail, two officials briefed on the negotiations said.The European Commission, which is assembling the list of measures as part of its response to US President Donald Trump’s tariffs, still has to present the list to EU countries.Trump has announced he plans to hit the bloc with 30 per cent tariffs from August 1.While Brussels has previously warned that it could expand the transatlantic trade war to services if talks to avoid those tariffs fail, it has not presented concrete measures to European capitals.One of the officials stressed the list would not only focus on US tech companies, which have strong lobbying power in Trump’s White House.The list would come on top of a proposal for retaliation against €72bn of annual US imports that EU countries are already discussing and which includes tariffs on Boeing aircraft, cars and bourbon.A person familiar with the latest proposal said it would include levies on digital services. Commission president Ursula von der Leyen threatened this action in an interview with the Financial Times in April.“An example is you could put a levy on the advertising revenues of digital services,” she said at the time.Bernd Lange, the chair of the European parliament’s trade committee, who is frequently briefed on the talks, welcomed the move. The US has a deficit in goods with the EU but a surplus in services, making it more vulnerable to retaliation in that sector.“It’s not really foreseen that an acceptable balanced deal will be possible between the US and the EU. So it is important to prepare,” Lange said.“The US tech giants generate a lot of their income in Europe and the US has an annual surplus in services of about $100bn.“So it is necessary also to prepare a third step on the escalation ladder; a levy on digital services.”The bloc could use its enforcement regulation to draw up the services list, which would require approval from member states.This latest package also includes the first export controls, which would add fees to the export of steel scrap and some chemicals.European scrap is sent to the US where it is melted in electric arc furnaces to be reused in new steel products.The EU and the US have been negotiating to secure a trade deal since April, when Trump announced 20 per cent “reciprocal” tariffs on EU imports. He then dropped them to 10 per cent to allow time for negotiations before a July 9 deadline, which has since been pushed back to August 1.Then, on July 13, he threatened he would increase the levies to 30 per cent on August 1.According to the two officials, the EU could accept 10 per cent tariffs but wants to reduce separate sectoral tariffs of 25 per cent on cars in any deal.It also wants to guarantee an exemption from future sectoral tariffs promised by Trump on pharmaceuticals and semiconductors.The EU’s trade chief Maroš Šefčovič is in Washington for discussions with his US counterparts. On Monday, he warned that there was still “quite a big gap” between the two sides. While the EU’s preference is for a deal, he said “all instruments” were being considered for retaliation measures.The commission has postponed until August 6 a separate plan to hit €21bn of annual US imports — drawn up in response to Trump’s separate duties on imports of steel, aluminium and cars from the EU — to allow time for talks.The commission declined to comment.
Bueno.Yo veo una Stablecoin como un Bono Canjeable por la entidad que la emite.Las fichas de un casino que sólo valen para ese casino.Vales de ElCorteinglés que sólo valen para El Corte Inglés.El Viaje para la Montaña Rusa, que no vale para el puesto de tiro al blanco.Se pueden canjear en otros sitios ? Sí, en función de la seriedad de la entidad creadora del token.Pueden perder totalmente su valor ? Sí, cuando la gente pierda la confianza en lo que hay detrás.Se pueden transferir fácilmente USDT y USDC. Y BinanceCoins. Pero responde el creador.Al estilo de la Deuda Pública de País, vayaLa gracia aquí está en el Humo... papelitos que dicen que tienes oro... y que Estados Unidos va a permitir a muchas entidades generar su propio dinero a cambio de respaldarlo con Dólares, o Deuda americana.... Deuda infinita para USA, Dinero Circulando por parte de los trileros... huele boom en cualquier momento y el dinero se esfumó... pero mientras tanto quién dice que no puede haber otro inflado de burbuja más ? un poquito de hiperinflación quizás o me estoy pasando ? vuelta a la confianza en el Dólar-Verdadero, tras una quita importante ? Mantener el nivel de Gasto del Gobierno con deuda infinita devaluando el Dólar a voluntad ? Sin tipos elevados, con Dólar bajo para exportar... pero con suficientes dólares para seguir comprando... y cuantos más dólares ¡menos cuesta devolverlos!Deuda USA tokenizada repartida por el mundo, donde los operadores de Cripto aparcan su liquidez cuando no saben a qué Cripto APOSTAR... y que se puede colocar en Fondos de todo el mundo pues son "estables" AAA+.... El Maestro lo ha explicado muy bien.... pero creo que sólo el principio y el final. Y en el medio está lo mollar.Sabemos lo que son, más o menos.Sabemos que va a acabar explotando. Ricos unos pocos y pobres la mayoría (vaya, como siempre)Peeeeero ¿y por el medio? ¿va a ser una intentona de un mes antes del estallido o vamos a tener 3 décadas de inflado, reinflado, turningpoint y camelijirafantes ?
'Microsoft's Constant Layoffs Risk Creating a Culture of Fear'Posted by msmash on Friday July 18, 2025 @12:02PM from the closer-look dept.An anonymous reader shares a column:CitarI can't open LinkedIn without seeing a new post from a Microsoft employee who lost their job in the company's latest round of layoffs. Around 15,000 jobs have been eliminated at Microsoft over the past couple months -- the biggest cuts at the company in more than a decade.I've spoken to more than a dozen Microsoft employees in recent weeks, and everyone is concerned about the company's direction in this AI era. Morale is at an all-time low, and employees are worried that regular layoffs are simply the new normal.Sources tell me that Microsoft's leadership team had the choice between reducing investment in AI infrastructure for the upcoming financial year or deeply cutting its headcount and operating expenses. It's very clear what route Microsoft chose.
I can't open LinkedIn without seeing a new post from a Microsoft employee who lost their job in the company's latest round of layoffs. Around 15,000 jobs have been eliminated at Microsoft over the past couple months -- the biggest cuts at the company in more than a decade.I've spoken to more than a dozen Microsoft employees in recent weeks, and everyone is concerned about the company's direction in this AI era. Morale is at an all-time low, and employees are worried that regular layoffs are simply the new normal.Sources tell me that Microsoft's leadership team had the choice between reducing investment in AI infrastructure for the upcoming financial year or deeply cutting its headcount and operating expenses. It's very clear what route Microsoft chose.
Four EU countries bail out of paying for Trump’s weapons for UkraineAt least four countries are already bailing out of commitments to pay the US for weapons supplies for Ukraine, raising a question mark over the level of support Ukraine can expect now that Trump administration has withdrawn.France, Italy, Hungary and Czechia have all said they will definitely not participate in the weapons-purchase scheme. Nato General Secretary Mark Rutte has claimed that eight countries are willing to pay for the US weapons, but so far only Germany and Denmark have officially confirmed their commitment.The Dutch Foreign Ministry said that it was considering the possibility of participating in the scheme, but was not committed yet. Rutte said he expects the UK, Sweden and Norway to also participate, but they have not yet commented officially.European leaders are unhappy with a deal they say was foisted on them, as they were not informed before the announcement was made at a joint press conference in the Oval Office by Trump and Nato General Secretary Mark Rutte on July 14.Germany has offered two Patriot systems that it has on order from the US, and Norway a third. Rutte said, one country is prepared to supply 17 Patriot systems, but analysts say that is almost certainly only launchers, not full battery systems.European allies have a total of 18 full batteries and none of them intend to send their own batteries to Ukraine, although they may be willing to send some of the smaller launchers or the interceptor rockets that are the ammo for Patriot systems. Each Patriot battery costs about $1bn, with interceptor missiles approximately $3.7mn each. Denmark, the Netherlands and Sweden have also confirmed they will also join Trump’s initiative.European leaders were already miffed by Trump’s “big announcement” on July 14 that promised a large increase in military supplies, if Europe pays for it, and 100% tariffs on any country that does business with Russia if no ceasefire deal is agreed in the next 50 days.According to several European and US officials cited by Reuters on July 16, the plan appears to have been rushed through and announced without prior notification to the countries expected to be involved.
Trump pushes for 15-20% minimum tariff on all EU goodsUS president also rejects reducing 25% sectoral duties on EU cars, say diplomatsThe position puts the EU in a bind as it approaches an August 1 deadline, where Trump said he will impose a 30 per cent tariff on all its imports © Krisztian Bocsi/BloombergDonald Trump has escalated his demands in trade negotiations with the EU, pushing for a minimum tariff of 15 to 20 per cent in any deal with the bloc, according to three people briefed on the talks.The US president’s hardened stance aims to test the EU’s pain threshold after weeks of talks on a framework agreement that would have maintained a baseline tariff of 10 per cent on most goods.People familiar with the negotiations say Trump has also been unmoved by the latest EU offer to reduce car tariffs, and would be happy to keep duties on the sector at 25 per cent as planned.Maroš Šefčovič, EU trade commissioner, gave a downbeat assessment of his recent talks in Washington to EU ambassadors on Friday, according to two people briefed on the meeting.One US official told the FT the administration is now looking at a reciprocal tariff rate that exceeds 10 per cent, even if a deal is reached.The position puts the EU in a bind as it approaches an August 1 deadline, where Trump said he will impose a 30 per cent tariff on all its imports.The EU has indicated it would retaliate over such a move, but is divided over taking countermeasures and may be forced to accept a baseline of more than 10 per cent in any deal.In a sign of the mounting pessimism in Europe over the shape of a deal, German chancellor Friedrich Merz warned on Friday that Washington remained sceptical about offers to reduce the sectoral tariffs.“Whether we can still create sectoral rules, whether we can treat individual sectors differently from others, is an open question,” he said. “The European side supports this. The American side views it more critically.” Merz added.If Trump insists on permanent reciprocal duties of 15-20 per cent they would be as high as they were when trade talks began in April, and could push Brussels towards retaliation, said the senior EU diplomat. The US has also imposed sectoral tariffs of 50 per cent on EU steel and aluminium.“We don’t want a trade war, but we don’t know if the US will leave us a choice,” they said.A second EU diplomat added that “the mood has clearly changed” in favour of retaliation. “We are not going to settle at 15 per cent,” they said.Trump sparked global stock market turmoil in early April when he imposed high “reciprocal” tariffs on almost all US trading partners, before lowering them to 10 per cent for 90 days.US stocks have surged to record highs since April, and traders have largely shrugged off Trump’s recent threats to increase tariffs on large economies including Japan, South Korea and Brazil.Although economists have warned that Trump’s trade policy risks stoking US inflation, Trump has been buoyed by only a minor uptick in the US monthly consumer price index this month.Meanwhile, the US collected nearly $50bn in extra customs revenue in the second quarter while escaping any widespread retaliation measures from its largest trading partners.The EU has planned several packages of counter-tariffs but has repeatedly pushed back implementation, tying them to Trump’s latest deadline for talks of August 1.These include duties on €21bn of annual US imports, including chicken and jeans, that would come into effect on August 6.The European Commission, which runs trade policy, has also proposed retaliation against €72bn of annual US imports, including on Boeing aircraft and bourbon if talks fail.It is preparing a third list with measures against services. A person familiar with the latest proposal said it would include levies on digital services and online advertising revenue.US tariffs cover €380bn of annual EU exports, of a total of €532.3bn. The US is the bloc’s biggest single market, accounting for a fifth of exports.The commission declined to comment.
Georgia explores switching to China’s CIPS amid SWIFT alternativesThe National Bank of Georgia (NBG) has begun preliminary discussions on potential cooperation with China’s Cross-Border Interbank Payment System (CIPS), signaling a strategic interest in diversifying the country’s financial infrastructure, Azernews reports.According to Interfax, the talks were initiated following a meeting in Tbilisi between NBG Governor Natia Turnava and CIPS President Fu Huang. The meeting marks Georgia’s first formal engagement with CIPS representatives.Interest in alternative payment systems has grown after the European Parliament passed a resolution last week suggesting that Georgia could face disconnection from the global SWIFT network—an unprecedented and potentially disruptive move.(...)