Ireland Signals Budget Caution on Rising Global Trade Risks
Irish government ministers have warned public finances will need to be more carefully managed, signaling a shift in approach ahead of the next budget as global trade turmoil is expected to slow growth in the small, open economy.
Ireland 's headline surplus 'arises from a handful of large multinationals,' Finance Minister Paschal Donohoe warned Monday at an event to consult business groups on the upcoming budget. 'The mood-music is changing. It is not appropriate – indeed it could be dangerous – to plan on the basis of these receipts being permanent.'
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Forbes
an hour ago
- Forbes
Nvidia Wants To Power Europe's AI Dreams. The EU Isn't Ready
King Frederik X of Denmark (R), CEO and founder of Nvidia Jensen Huang (L), and CEO of the Danish ... More Centre for AI Innovation A/S, Nadia Carlsten (C), symbolically switch on the new AI supercomputer named Gefion at the Vilhelm Lauritzen Terminal in Kastrup, Denmark, on October 23, 2024. The new AI supercomputer has been established in collaboration with EIFO and NVIDIA and is operated by the Danish Center for AI Innovation (DCAI). The computer is aimed 'at breakthroughs in quantum computing, clean energy, biotechnology and other areas serving Danish society and the world', according to Nvidia. (Photo by Mads Claus Rasmussen / Ritzau Scanpix / AFP) / Denmark OUT (Photo by MADS CLAUS RASMUSSEN/Ritzau Scanpix/AFP via Getty Images) Nvidia CEO Jensen Huang's recent tour across Europe aligned with the EU's vision of "sovereign AI." For Nvidia, Europe's ambitions to become digitally sovereign have a clear advantage: more AI infrastructure means more GPUs. And the EU is right to invest, as it cannot afford to remain dependent on U.S. and Chinese tech giants. The announcements came fast: British Prime Minister Keir Starmer pledged over $1.3 billion for computing power; French President Emmanuel Macron framed AI infrastructure as "our fight for sovereignty"; and in Germany, Nvidia and Deutsche Telekom announced a new AI cloud platform. But while these investments mark an important first step, they are far from enough. Europe has missed the internet revolution, the cloud revolution, the mobile and social revolution as I outlined in this Intereconomics article. Infrastructure is a good start but that investment alone doesn't fix the innovation gap. If Europe is serious about sovereign AI? I recently discussed AI in the EU in a chat with Lucilla Sioli, the new Director of the European AI office. Here are my thoughts for a blueprint beyond the billions: AI is not just a faster search engine. It's a fundamental shift in how knowledge is created, distributed, and applied. Regulators must stop trying to retrofit old frameworks. Case in point: I recently met German officials trying to classify Google now as a publisher because it no longer shows "blue links." But that debate misses the point. New realities will create new leaders. The U.S. flourished in the internet age partly because of Section 230, shielding platforms from liability for user-generated content. Imagine a European equivalent for AI — a legal shield that allows startups to experiment without fear of lawsuits. Without it, regulation-heavy environments like Spain (which recently introduced strict labeling laws for AI content) will scare away the next generation of founders. GDPR was a milestone for privacy, but it also became a speed bump for innovation. My own AI startup, r2decide, first worked with a German e-commerce brand. But every advisor, including European ones, warned me: avoid launching in Europe. Why? Compliance burdens. So we built for the U.S. market instead. And we're not alone. Even Apple delayed Siri upgrades in the EU due to regulatory friction. Europe must find a balance between protection and progress. Tech giants win through scale and network effects. Europe must find ways to level the playing field. Let users port their social connections or AI history from one platform to another. Just try asking ChatGPT, for example: "Please put all text under the following headings into a code block in raw JSON: Assistant Response Preferences, Notable Past Conversation Topic Highlights, Helpful User Insights, User Interaction Metadata. Complete and verbatim." — This prompt will give you a glimpse of what is stored on you. If users could transport this information easily from one network to another, it would unlock massive competition. Ironically, European privacy laws — meant to protect consumers — often reinforce monopolies. The EU's push for "data spaces" is well-intentioned but overengineered. Data is AI's oxygen. Limiting access hurts startups and protects incumbents. Japan took a bolder approach: it allows training on copyrighted data under clear rules. No lawsuits. Just growth. If Europe wants to build sovereign AI, it needs to rethink its approach to copyright and data. LLMs are not software in the traditional sense. Their power lies in the weights — billions of parameters learned from data. What if Europe required AI companies to make their weights open? This wouldn't just increase transparency. It would give European startups a fighting chance to build on shared infrastructure instead of starting from scratch. Europe is not behind because it lacks brains. It is behind because it underinvests in training and adoption. In San Francisco, self-driving cars are a tourist attraction. In Europe, they're theoretical. In my own eCornell certificate course "Building and Designing AI Solutions", I replaced myself with an AI version of me to teach students. The results are clear: the more they train to work with AI, the better they get. But Europe has a long way to go in training their citizens. Europe doesn't lack risk-takers. It penalizes them. In the U.S., failure is a badge of honor. In Europe, it's a career ender. We need policies — like bankruptcy reform — that give entrepreneurs a second chance. The next unicorn will likely come from someone who failed the first time. Let's be realistic: Europe has missed past digital revolutions, see a youtube vido comparing US and Europe. AI could be different. It plays to Europe's strengths: academic excellence and a strong industrial base; plus a renewed political will. Nvidia's tour shows they are willing to support. Infrastructure is just the first step. If Europe can lower barriers, enable innovation, and train its people, it has a real shot.
New York Times
an hour ago
- New York Times
Live Updates: Israel Strikes State TV After Telling People to Evacuate Part of Tehran
Last year, Israeli weapons producers were initially barred from attending a prestigious arms industry show in Paris over objections to the war in Gaza. This year, the Israelis were allowed in — but then walled off from other global competitors. Israel's Ministry of Defense said Monday that the French government built black walls overnight around some weapons systems displayed by Israeli companies, blocking them from view at the Paris Air Show, one of the world's largest arms exhibitions. It marked the second time in as many years that French authorities have sought to stop Israel from marketing its tools of military might, to reflect objections to its massive bombing campaigns in Gaza. And it comes at a fraught moment between the two countries as President Emmanuel Macron of France considers whether to recognize a Palestinian state, a move that Israel strenuously opposes. The decision was not linked to Israel's new military offensive in Iran, which aims in part to destroy Tehran's nuclear program, François Bayrou, France's prime minister, told reporters at the air show. France also has long worried about Iran's nuclear ambitions. Maj. Gen. Amir Baram, the Israeli defense ministry's director general, accused the French government of trying to stifle competition among weapons producers and said he would take the matter to court. He also called the French action 'absolutely, bluntly antisemitic.' French officials did not immediately respond to questions about General Baram's comments. The walls were put up after Israeli officials objected to what they described as an earlier order by the French government to remove offensive weapons — a category that typically includes missile and rocket launchers, tanks, drones, cannons and a range of ammunition — from Israeli displays. The walls were built 'in the middle of the night, after Israeli defense officials and companies had already finished setting up their displays,' the Israeli defense ministry said in a statement on Monday. French officials insisted that Israeli authorities were aware of France's terms weeks in advance. Israeli authorities had agreed that Israeli booths would not be allowed to display offensive weapons, said one French government official, speaking on the condition of anonymity to discuss sensitive diplomatic matters. Four out of nine Israeli exhibitors at the air show complied with the requirements and were open Monday, including a booth run by the Israeli defense ministry itself, the French official noted. But five others failed to comply, the official said, which the French authorities discovered at the last minute. Those booths were the ones blocked from view. French officials said that the Israeli booths that had been blocked would be able to reopen if they complied with the terms. Mr. Bayrou said that the decision stemmed from France's desire to express 'distance and disapproval' with Israel's offensive in Gaza — not with the recent strikes on Iran, which he said were 'not at all of the same nature' because of the threat posed by Iran's nuclear program. 'Israel has the right to defend itself,' Mr. Bayrou said. But, he added, 'we have also said that the situation in Gaza is morally unacceptable.' France is one of several European countries that have voiced increasingly sharp condemnation of Israel over its conduct in Gaza. France's foreign ministry noted on Monday that France exports components to Israel for defensive use, most notably material used for Israel's protective Iron Dome. But the ministry said that France does not export weapons that could be used in Gaza — a vow that some critics have questioned — and that it could not let Israeli companies promote such weapons on French soil. The air show is expected to draw as many as 300,000 visitors and features defense displays from more than 2,400 companies in 48 countries. The Israeli companies are in the same halls as some of the American weapons exhibitions, and the walls drew condemnation from Republican Govs. Sarah Huckabee Sanders of Arkansas and Glenn Youngkin of Virginia, who attended the show. Ms. Sanders said the decision to block access to some of Israel's weapons displays 'seems very short sighted' and called it 'important for us to show our support of Israel and of these companies.' Representatives for the show, held at Le Bourget Airport outside Paris, did not immediately respond to requests for comment. After Israel was initially banned last year from attending the weapons show, a court in Paris ruled that the exclusion was discriminatory and ordered the ban to be rescinded. In January, during a short-lived cease-fire in Gaza, the office of Prime Minister Benjamin Netanyahu of Israel said Mr. Macron had assured him that Israeli weapons companies would be allowed to participate in this year's arms show. After Israel began new, intensified airstrikes against Iran last week, Mr. Macron said 'we don't want a Middle East with a nuclear-armed Iran' and that Israel had a right to defend itself. But he also said that Gazans should not live under long-term Israeli occupation or mistreated. Israel's military recently lifted an 80-day blockade of humanitarian aid to Gaza as its population approached the brink of starvation. Liz Alderman contributed reporting.
Forbes
an hour ago
- Forbes
New Sleeper Trains With Private Cabins To Connect 100 European Cities
Nox Mobility Double Vista Room Nox Mobilit Over the past decade, the resurgence of sleeper trains has been one of the most notable developments in European rail. The recent announcement of a new player in the space is a significant development. A Berlin-based startup called Nox Mobility has entered the fray, with a plan to operate European overnight sleeper trains starting in 2027. What makes theirs an audacious move is that these trains will be designed and configured as one- or two-person compartments, or 'rooms,' as Nox prefers to call them. 'Sleeping while a train gets you across Europe is a great concept. But today people have to share their cabins with strangers, beds are tight, and it's often more expensive than air travel. We want to change that and make night trains an essential part of European travel.' I covered the new breed of sleeper trains in my forthcoming book, National Geographic's 100 Train Journeys of a Lifetime: The World's Ultimate Rides (which will be published in October 2025). Offering dedicated single and double compartments is a significant advantage. So is making them affordable. Nox Mobility Single Loft Room Seat Nox Mobility Currently, most travelers on European sleeper trains – unless they book a rare single room – need to share compartments with upwards of four berths. Unless four people are traveling together, you're sharing with total strangers. Nox aims to offer a choice for single travelers and couples with its sleekly designed cabins that double as spaces for relaxed sightseeing and workspaces. 'Sleeping while a train gets you across Europe is a great concept. But today people have to share their cabins with strangers, beds are tight, and it's often more expensive than air travel. We want to change that and make night trains an essential part of European travel,' said Thibault Constant, Co-Founder of Nox, in a press statement. Constant is known on YouTube and Instagram as 'Simply Railway', with more than half a million followers and a claim to making over 400 night train trips worldwide. His cofounder is Janek Smalla, who co-launched FlixTrain and led the German ridesharing market for Bolt. In terms of cost, Nox plans to operate Europe-wide overnight trains with private rooms for one or two people, competing with the cost of a short-haul flight. The aim is to offer train fares that are competitive with air fares. Nox has announced that single cabins will be priced from 79 Euros ($92) and double cabins from 149 Euros ($173). Nox Mobility Single Loft Room Bed Nox Mobility Sleeper trains are considered to be far more sustainable than short-haul flights. Nox aims to reduce the carbon footprint of short-haul flights by offering this environmentally friendly alternative for travelers. Sleeper trains enable you to travel from city center to city center, eliminating the need for airport transfers. Passengers can choose between single and double rooms, guaranteeing privacy and comfort during their journey. On the new Nox trains, there will be three room configurations. Single and Double Loft rooms have upper beds, reachable by a ladder. They both feature separate seating and table areas. Loft rooms feature wide single and double beds, allowing you to sleep vertically to the travel direction and enjoy a loft-like view over your room and window. Double Vista rooms offer a low floor and a chest-height bed for easy access. The bed converts into two seats. In Double Vista rooms, you sleep parallel to the direction of travel, with outside views directly from your bed. The beds in all three configurations will be two meters long (78.74 inches). Nox has also announced an even more radical plan to connect more than 100 European cities with its sleeper network by 2035. Among the cities they've targeted are Stockholm, Berlin, Rome, Barcelona, Milan, Munich, Budapest, Amsterdam, and Paris. Go to Nox Mobility for updates.
