European Central Bank Chief Economist Philip Lane warned that Europe must develop a digital euro to counter growing American influence over the continent's financial system [alternative source] amid escalating geopolitical tensions. Lane specifically cited Europe's "current dependence on US payment-card providers Visa and Mastercard, as well as technology companies including PayPal, Apple and Google" as a vulnerability requiring urgent action.

His comments come as President Donald Trump's administration promotes dollar-backed stablecoins worldwide as part of a broader cryptocurrency strategy, alarming European officials. ECB Governing Council member Francois Villeroy de Galhau recently cautioned that "the US risks bringing about the next financial emergency through its support of cryptocurrencies."

"The digital euro is not just about adapting to the digital age. It is about ensuring Europe controls its monetary and financial destiny," Lane told a conference in Ireland, noting that a digital currency would "limit the likelihood of foreign-currency stablecoins gaining a foothold" in Europe.

The credit-card market has quietly split in two, Atlantic argues in a new story: one offering generous benefits to wealthy Americans, the other offering expensive debt to the poor. Credit-card balances have reached an all-time high of $1.2 trillion, with serious delinquency rates climbing to their highest point since the Great Recession.

"Transactors" pay off balances monthly and earn valuable rewards worth up to $3,000 annually in taxable income equivalent, while "revolvers" carry balances at a brutal 21.5% average APR. The poor subsidize the rich through two mechanisms: swipe fees that drive up retail prices by $1,700 annually for the average family, and late fees and interest charges that finance rewards programs. Interest revenue for credit-card companies has ballooned from $76 billion in 2020 to $170 billion in 2024.

The economy now appears to be slowing down. High-income families are increasingly resembling working-class families in credit data, with three in five households earning over $80,000 annually carrying balances for more than a year. Card companies are now offering fewer cards to subprime borrowers, creating a troubling dilemma - while expensive credit cards are harmful, having no credit access might be worse. Bipartisan legislation now aims to cap interest rates and lower swipe fees.

An anonymous reader quotes a report from Reuters: The Belgian prosecutor's office said on Tuesday that it has charged five people in connection with a bribery investigation in the European Parliament allegedly linked to China's Huawei. The five were detained last week. Four have now been arrested and charged with active corruption and involvement in a criminal organization, while a fifth faces money laundering charges and has been released conditionally. The prosecutor's officer did not disclose the names of those involved or give information that could identify them.

It said new searches had taken place on Monday, this time at European Parliament offices. Huawei said last week it took the allegations seriously. "Huawei has a zero tolerance policy towards corruption or other wrongdoing, and we are committed to complying with all applicable laws and regulations at all times," it said. The prosecutors have said the alleged corruption took place "very discreetly" since 2021 under the guise of commercial lobbying and involved payments for taking certain political stances or excessive gifts such as food and travel expenses or regular invitations to football matches.

The Dutch parliament approved motions urging the government to reduce reliance on U.S. software companies by developing a sovereign cloud platform and reconsidering contracts with American firms. Reuters reports: While such initiatives have foundered in the past due to a lack of viable European alternatives, lawmakers said changing relations with the United States under the presidency of Donald Trump have given the issue fresh urgency. "The question we as Europeans must ask ourselves is: do we feel comfortable with people like Trump, (Meta CEO Mark) Zuckerberg and (X owner Elon) Musk ruling over our data?" said Marieke Koekkoek of the pro-European Volt party, who authored one of the eight motions, in an email to Reuters.

In addition to launching a sovereign cloud services platform, the motions called on the government to re-examine a decision to use Amazon's web services for the Netherlands' internet domain hosting, and to develop alternatives to U.S. software and preferential treatment for European firms in public tenders. [...] Bert Hubert, a Dutch technology expert who has advocated for reducing dependency on the U.S., said: "This is only the first step in potentially doing something." But he said one important outcome would be forcing agencies to publicly report on risks related to their reliance on U.S. cloud firms. "With the advent of Trump 2.0, it has become clear that this is not something you can harmlessly sign off on," he said.

An anonymous reader quotes a report from Reuters: A federal appeals court in Washington, D.C., on Tuesday affirmed that a work of art generated by artificial intelligence without human input cannot be copyrighted under U.S. law. The U.S. Court of Appeals for the District of Columbia Circuit agreed with the U.S. Copyright Office that an image created by Stephen Thaler's AI system "DABUS" was not entitled to copyright protection, and that only works with human authors can be copyrighted.

Tuesday's decision marks the latest attempt by U.S. officials to grapple with the copyright implications of the fast-growing generative AI industry. The Copyright Office has separately rejected artists' bids for copyrights on images generated by the AI system Midjourney. The artists argued they were entitled to copyrights for images they created with AI assistance -- unlike Thaler, who said that his "sentient" system created the image in his case independently. [...]

U.S. Circuit Judge Patricia Millett wrote for a unanimous three-judge panel on Tuesday that U.S. copyright law "requires all work to be authored in the first instance by a human being." "Because many of the Copyright Act's provisions make sense only if an author is a human being, the best reading of the Copyright Act is that human authorship is required for registration," the appeals court said.

fahrbot-bot shares a report from Reuters: BYD on Monday unveiled a new platform for electric vehicles (EVs) that it said could charge EVs as quickly as it takes to pump gas and announced for the first time that it would build a charging network across China. The so-called "super e-platform" will be capable of peak charging speeds of 1,000 kilowatts (kW), enabling cars that use it to travel 400 km (249 miles) on a 5-minute charge, founder Wang Chuanfu said at an event livestreamed from the company's Shenzhen headquarters.

Charging speeds of 1,000 kW would be twice as fast as Tesla's superchargers whose latest version offers up to 500 kw charging speeds. The new charging architecture will be initially available in two new EVs -- Han L sedan and Tang L SUV priced from 270,000 yuan ($37,328.91) and BYD said it would build over 4,000 ultra-fast charging piles, or units, across China to match the new platform. "In order to completely solve our user's charging anxiety, we have been pursuing a goal to make the charging time of electric vehicles as short as the refuelling time of petrol vehicles," Wang said.

"This is the first time in the industry that the unit of megawatt (charge) has been achieved on charging power," he said.

Google's parent company Alphabet is reportedly in talks to acquire cybersecurity startup Wiz for approximately $30 billion. Last July, negotiations had advanced on a $23 billion deal, but the talks were put on hold to prioritize Wiz's IPO. Around the same time, Alphabet also walked away from a potential acquisition of online marketing software company HubSpot. Reuters reports: The startup provides cloud-based cybersecurity solutions powered by artificial intelligence that help companies identify and remove critical risks on cloud platforms. A buyout of this size will most likely face regulatory scrutiny as tech giants are kept under close watch for possible monopolistic practices.

If the deal goes through, it could help Alphabet tap into the cybersecurity industry and expand its booming cloud infrastructure segment, which generated more than $43 billion in revenue last year. Wiz was last valued at $12 billion in a private funding round in May 2024.

"Alphabet's Waymo autonomous vehicles are programmed to follow the rules of the road..." notes the Washington Post. But while the cars obey speed limits and properly use their turn signals — they also "routinely violate parking rules." Waymo vehicles driving themselves received 589 tickets for parking violations in 2024, according to records from San Francisco's Municipal Transportation Agency... The robots incurred $65,065 in fines for violations such as obstructing traffic, disobeying street cleaning restrictions and parking in prohibited areas... [Waymo is responsible for 0.05% of the city's fines, according to statistics from the article.]

Parking violations are one of the few ways to quantify how often self-driving companies' vehicles break the rules of the road... Some parking violations, such as overstaying in a paid spot, cause inconvenience but do not directly endanger other people. Others increase the risk of crashes, said Michael Brooks, executive director of the Center for Auto Safety. Anytime a vehicle is obstructing the flow of traffic, other drivers might be forced to brake suddenly or change lanes, he said, creating risks for drivers, pedestrians or other road users...

San Francisco transit operators lost 2 hours and 12 minutes of service time in 2024 because of Waymo vehicles blocking or colliding with transit vehicles, according to San Francisco Municipal Transportation Agency records. Autonomous vehicles have obstructed firefighters responding to emergency scenes in San Francisco, triggering city officials to ask for tougher oversight from state regulators.
The article adds that driverless Waymo vehicles in Los Angeles received 75 more tickets in 2024 — "with $543 in fines still outstanding, according to records from the Los Angeles Department of Transportation."

Long-time Slashdot reader invisik saw this story on Yahoo News: Comedian and voice actor George Lowe, who is well-known as the voice of Space Ghost on "Space Ghost Coast to Coast," died on March 2. He was 67...

He did some voice-over work for TBWS and Cartoon Network in the 1980s to mid-1990s before getting his lead role of Space Ghost in 1994 with the premiere of "Space Ghost Coast to Coast" on Cartoon Network. Space Ghost was a parody of talk shows with live-action celebrity guests, hosted by the Hanna Barbera character Space Ghost, which aired from 1994 to 1999 on Cartoon Network. The show later returned in 2001, airing on Adult Swim's late-night programming block until 2004, Deadline reported.
When animation pioneer William Hanna died in 2001, Slashdot founder CmdrTaco posted "the thing that I respect most about Hanna is the fact that a show like Space Ghost Coast to Coast was allowed to take their characters and do something truly unique with them. He even lent his voice to the show in one episode. Not a lot of people would be willing to allow one of their creations to be twisted like that, but the original Space Ghost was one of my childhood staples, and Space Ghost Coast to Coast stands in a class all its own proving that creativity isn't dead on TV."

"Adult Swim would not be the network it is today without Space Ghost Coast to Coast," argues ComicBook.com. (And as a tribute to Lowe, Adult Swim posted five minutes of surreal outtakes from Space Ghost Coast to Coast's 10th Anniversary celebration.)

A headline at Vulture.com makes the case that "Space Ghost Coast to Coast Only Worked Because of George Lowe." They've rounded up a collection of videos with surreal titles like "Marrying Bjork" and "Guesting on a MF DOOM track" (plus that time Lowe did a live interview — in his Space Ghost costume — with C-SPAN).

Europe's new tech rule aims to keep digital markets open and is not targeted at U.S. tech giants, EU antitrust and tech chiefs told U.S. congressmen, reminding them that U.S. enforcers have in recent years also cracked down on these companies. From a report: The comments by EU antitrust chief Teresa Ribera and EU tech chief Henna Virkkunnen came after U.S. House Judiciary Chair Jim Jordan and Scott Fitzgerald, chairman of the subcommittee on the administrative state, regulatory reform and antitrust demanded clarifications on the Digital Markets Act (DMA).

"The DMA does not target U.S. companies," Ribera and Virkkunnen wrote in a joint letter dated March 6 to Jordan and Fitzgerald seen by Reuters. "It applies to all companies which fulfil the clearly defined criteria for being designated as a gatekeeper in the European Union irrespective of where they are headquartered," they said.

An anonymous reader quotes a report from Reuters: The U.S. House Judiciary Committee subpoenaed Alphabet on Thursday seeking its communications with former President Joe Biden's administration about content moderation policies. House Judiciary Committee Chairman Jim Jordan, a Republican, also asked the YouTube parent company for similar communications with companies and groups outside government, according to a copy of the subpoena seen by Reuters. The subpoena seeks communications about limits or bans on content about President Donald Trump, Tesla CEO and close Trump ally Elon Musk, the virus that causes COVID-19 and a host of other conservative discussion topics. "Alphabet, to our knowledge, has not similarly disavowed the Biden-Harris Administration's attempts to censor speech," Jordan said in a letter.

Meanwhile, Google spokesperson Jose Castaneda said the company will "continue to show the committee how we enforce our policies independently, rooted in our commitment to free expression."

Google is urging officials at President Donald Trump's Justice Department to back away from a push to break up the search engine company, citing national security concerns, Bloomberg reported Wednesday, citing sources familiar with the discussions. From the report: Representatives for the Alphabet unit asked the government in a meeting last week to take a less aggressive stance as the US looks to end what a judge ruled to be an illegal online search monopoly, said the people, who asked not to be identified discussing the private deliberations. The Biden administration in November had called for Google to sell its Chrome web browser and make other changes to its business including an end to billions of dollars in exclusivity payments to companies including Apple.

Although Google has previously pushed back on the Biden-era plan, the recent discussions may preview aspects of the company's approach to the case as it continues under the Trump administration. A federal judge is set to rule on how Google must change its practices following hearings scheduled for next month. Both sides are due to file their final proposals to the judge on Friday.

China plans to commercialize nuclear fusion for emissions-free power generation by 2050, with its first operational project expected around 2050 after a demonstration phase starting in 2045. Bloomberg reports: China National Nuclear Corp. (CNNC) last year formed an industry alliance and set up a new national fusion company, the China Fusion Corp. It has attracted about 1.75 billion yuan ($240 million) in investment from CNNC and Zhejiang Zheneng Electric Power Co. for cutting-edge tokamak devices, which use magnetic fields to confine and control superheated plasma to produce power without emissions or significant radioactive waste. CNNC also plans to scale up production of its homegrown designs for regular nuclear fission reactors and small modular reactors over the next five years, the company's Vice General Manager Xin Feng said at the briefing.

China is set to leapfrog the US and France as the owner of the world's biggest reactor fleet by 2030. About 10 new reactors have been approved every year since power shortages emerged in 2022 and the country is expected to keep up that pace through 2030 to meet climate goals, CNNC said on Friday.

Citigroup nearly credited about $6 billion to a customer's account in its wealth-management business by accident. From a report: The near-error occurred after a staffer handling the transfer copied and pasted the account number into a field for the dollar figure, which was detected on the next business day, the report added. The wealth division's near-miss was reported to regulators and the company has since set up a tool to help vet large, anomalous payments and transfers, according to the report. The error was related to an attempted transfer of funds between internal accounts, the report said. Last week, the Financial Times reported that Citigroup erroneously credited $81 trillion, instead of $280, to a customer's account and took hours to reverse the transaction.

After California's bar exams were plagued last week with technical problems, the State Bar of California is recommending that the agency return to in-person tests as it scrutinizes whether the vendor behind the new testing system met the obligations of its contract. From a report: "Based on the administration of the February Bar Exam, staff cannot recommend going forward with Meazure Learning," Donna Hershkowitz, chief of admissions for the State Bar, wrote to the agency's Board of Trustees in a staff memo, referring to the vendor. Instead, she wrote, staff recommend reverting to in-person testing for the next round of exams in July.

The State Bar's 13-member board, which is scheduled to meet March 5, will ultimately decide on plans for the July bar exam and remedies for test takers who faced problems. In a statement Monday, the State Bar said it is "closely scrutinizing whether Meazure Learning met its contractual obligations" in administering the February State Bar exam and will be "actively working with its psychometrician and other stakeholders to determine the full scope of necessary remediation measures for February 2025 bar exam test takers."

China aims to commercialize nuclear fusion technology for use in emissions-free power generation by 2050, according to the country's state-owned atomic company. From a report: China National Nuclear Corp., which runs an experimental device dubbed the 'artificial sun,' could start commercial operation of its first power generation project about five years after a demonstration phase starting around 2045, it said in a media briefing on Friday.

The Asian nation has recently stepped up its ambitions in achieving nuclear fusion, a process by which the sun and other stars generate energy and that is considered a near-infinite form of clean energy. It is notoriously difficult to carry out in a sustained and usable manner and only a handful of countries like the US, Russia and South Korea have managed to crack the basics.

An anonymous reader quotes a report from Fortune: Starting in April, the Tokyo Metropolitan government, one of the country's largest employers, is set to allow its employees to work only four days a week. It is also adding a new "childcare partial leave" policy, which will allow some employees to work two fewer hours per day. The goal is to help employees who are parents balance childcare and work, said Tokyo Gov. Yuriko Koike. "We will continue to review work styles flexibly to ensure that women do not have to sacrifice their careers due to life events such as childbirth or child-rearing," Koike said in a speech during the Tokyo Metropolitan Assembly's regular session, the Japan Times reported.

Moving to a four-day workweek could help address some of the core issues associated with Japan's heavy work culture, which can especially weigh on working women. The gap between men and women when it comes to housework is one of the largest among OECD countries, with women in Japan engaging in five times more unpaid work, such as childcare and elder care, than men, according to the International Monetary Fund. More than half of women who had fewer children than they would have preferred said they had fewer children because of the increased housework that another child would bring, according to the IMF. In some cases, moving to a four-day workweek has been shown to improve housework equity. Men reported spending 22% more time on childcare and 23% more time on housework during a four-day workweek trial conducted across six countries by 4 Day Week Global, which advocates for the issue.

It would take a major societal change for the four-day workweek to catch on more broadly, but years of experiments have shown that working one day less a week improves employee productivity and well-being, said Peter Miscovich, the global future of work leader at real estate services company JLL. "The upside from all of that has been less stress, less burnout, better rest, better sleep, less cost to the employee, higher levels of focus and concentration during the working hours, and in some cases, greater commitment to the organization as a result," Miscovich told Fortune.

Microsoft has canceled some leases for US data center capacity, according to TD Cowen, raising broader concerns over whether it's securing more AI computing capacity than it needs in the long term. From a report: OpenAI's biggest backer has voided leases in the US totaling "a couple of hundred megawatts" of capacity -- the equivalent of roughly two data centers -- canceling agreements with at least a couple of private operators, the US brokerage wrote Friday, citing "channel checks" or inquiries with supply chain providers. TD Cowen said its checks also suggest Microsoft has pulled back on converting so-called statements of qualifications, agreements that usually lead to formal leases.

Microsoft in a statement on Monday reiterated its spending target for the fiscal year ending June, but declined to comment on TD Cowen's note. Exactly why Microsoft may be pulling some leases is unclear. TD Cowen posited in a second report on Monday that OpenAI is shifting workloads from Microsoft to Oracle as part of a relatively new partnership. The tech giant is also among the largest owners and operators of data centers in its own right and is spending billions of dollars on its own capacity. TD Cowen separately suggested that Microsoft may be reallocating some of that in-house investment to the US from abroad.

Apple said it planned to hire an additional 20,000 staff in the US over the next four years as part of a $500 billion American investment plan. Financial Times: The $500 billion figure [non-paywalled source], spread over Trump's second term in office, includes regular spending on thousands of US suppliers, data centres and corporate facilities, as well as new initiatives such as an academy in Michigan "to train the next generation of US manufacturers." Apple will also open a manufacturing facility in Houston to build servers that can support its artificial intelligence ambitions.
President Trump "implied that the iPhone maker is investing locally because it does not want to pay tariffs," reports Bloomberg. They add pointedly that Apple "didn't say whether the new investments were already underway before Trump's win."

"A line idle for decades has been accused of starting the LA area's deadly Eaton Fire," writes Bloomberg, describing California's abandoned power lines as "a fire risk hiding in plain sight." [Abandoned power lines] fall out of use, either because they've been replaced or because the power plants they once connected to the grid shut down... Sometimes the utilities that own idled lines disconnect them from the power grid, cutting off the flow of electricity through the cables. Other times, they don't, keeping them energized. California regulations require the companies to remove power lines they don't anticipate using again, but there's no set deadline. The companies can keep idled lines in place if they foresee needing them in the future, so long as they're regularly inspected and maintained.

Even those that have been unplugged from the grid can potentially pose a danger. The line under scrutiny due to the Eaton Fire is owned by Edison International's Southern California utility and was retired in 1971. Under normal circumstances, it carries no electricity, according to the company. Lawyers suing Edison allege that a January 7 power surge on a nearby, active line created a magnetic field that briefly re-energized the dormant cable, setting off the sparks that ignited the blaze. Edison said in a state filing that it is investigating that theory. State investigators have yet to announce a cause for the fire.
A 2019 fire that burned 77,700 acres (31,444 hectares) was started by an old power line for a plant that closed in 2001, according to the article. PG&E, the state's largest utility, "hadn't removed it, and it stayed connected to the grid, energized." [PG&E] agreed to remove 72 permanently abandoned transmission lines — representing about 260 miles (418 kilometers) of dormant cables. The work could cost as much as $268 million spread over 10 years, the company estimated at the time. PG&E had removed 64 of the idled lines by the end of 2024, according to a spokesman.

"At the right conditions, failing idle facilities can pose significant wildfire and safety risks," PG&E said in its plan to remove the equipment.
Thanks to long-time Slashdot reader larryjoe for sharing the news.