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Transatlantic News
Transatlantic News
05
Nov
The U.S. Commerce Department’s Bureau of Economic Analysis (BEA) reported last week that real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024. Growth was in large part due to Americans making and spending more. Consumer spending increased 3.7%, the most since early 2023, thanks to rising incomes.
The economy has grown 12.6% under the Biden-Harris Administration, with the lowest average unemployment of any Administration in 50 years, and 16 million jobs created. This demonstrates...
05
Nov
Today, the Council approved conclusions on a European Court of Auditors’ (ECA) report aiming to strengthen EU’s AI ambitions, notably by enhancing governance and ensuring an increased, more focused investment when moving forward in this field.
The Council agrees with the Court’s conclusion that the EU must scale up investments in AI and facilitate access to digital infrastructure to be a globally competitive actor with a global impact, assume leadership in the development and deployment of AI, foster talent and create an ecosystem of excellence and...
04
Nov
By Piero Cipollone | As they juggle various cards, apps and devices, most Europeans find that digital payments have fallen short of their promise to provide a convenient euro area-wide solution. The ECB’s Piero Cipollone explains how a digital euro would blend the simplicity of cash with digital convenience.
Twenty-five years ago, the introduction of the euro transformed Europe. For the first time, people in different countries were using the same banknotes and coins. Who would have thought that the...
04
Nov
Delivers on Governor Hochul’s 2024 State of the State Initiatives To Help Small, Rural and Disadvantaged Communities With Their Water Infrastructure Needs
Funding Awarded Across New York State in All 10 Economic Development Regions
Enhanced Awards for 32 Projects in Small, Rural Communities
Governor Kathy Hochul today announced that more than $435 million is being awarded to 102 critical water infrastructure projects across New York State through the Water Infrastructure Improvement and Intermunicipal Grant programs. The grants awarded by...
04
Nov
Executive Summary:
Commodity prices are expected to decrease by 5 percent in 2025 and 2 percent in 2026, after softening 3 percent this year. This would lead aggregate commodity prices to their lowest levels since 2020. The projected declines are led by oil prices but tempered by price increases for natural gas and a stable outlook for metals and agricultural raw materials. The Brent crude oil price is projected to average $80/bbl in 2024, before slipping to $73/bbl in 2025...
31
Oct
Prepared by Adrian Page | Published as part of the ECB Economic Bulletin, Issue 7/2024.
In the post-pandemic period, Eurosystem/ECB staff projections for growth have performed well over short horizons, despite the large shocks that have occurred. While the performance of inflation projections since the start of the pandemic has been extensively documented in previous issues of the Economic Bulletin, this box looks at how the Eurosystem/ECB staff projections for real GDP growth have fared during this turbulent period. The growth fluctuations in...
31
Oct
Prestigious Designation Unlocks $825 Million in Federal Funding for Semiconductor R&D at NY CREATES' Albany NanoTech Complex
Cements New York as America’s Leading Semiconductor R&D Hub, Will Enable Continued Expansion of State’s High-Tech Ecosystem and Bring Back Hundreds of Good Paying Manufacturing Jobs to New York State
The CHIPS for America EUV Accelerator at NY CREATES Will Support U.S. Technological Sovereignty, National Security, American Economic Vitality and Lead to More Powerful Chips for Technology Used Everyday
Governor Kathy Hochul today celebrated the...
30
Oct
The European Innovation Council (EIC), part of the EU research and innovation programme Horizon Europe, will support European deep tech research and high-potential start-ups with €1.4 billion next year. The EIC Work Programme 2025, which the Commission adopted today, represents an increase of nearly €200 million in comparison with 2024.
In addition to a bigger budget, the 2025 work programme brings several improvements, including better access to scale-up equity funding with the EIC Strategic Technologies for Europe Platform (STEP) scale-up scheme,...
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