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The European Commission has unveiled its so-called “AI Continent Action Plan,” which aims to “transform Europe’s strong traditional industries and its exceptional talent pool into powerful engines of AI innovation and acceleration.” The EU has faced criticisms from tech leaders that its regulations on everything from AI to taxation hinder innovation and make it more difficult for start-ups to operate across the region. The bloc will also create a new AI Act Service Desk to help regional firms comply with its landmark AI law. “The AI Act raises citizens’ trust in technology and provides investors and entrepreneurs with the legal certainty they need to scale up and deploy AI throughout Europe,” the Commission said, adding the AI Act Service Desk will “serve as the central point of contact and hub for information and guidance” on the rules.

 

European Commission

CNBC

Politico

How to Navigate the EU AI Act

The EU AI Act represents a significant milestone in the global effort to regulate artificial intelligence, addressing increasing concerns about the ethical, social, and legal implications of AI technologies. Join Sean Kelly, Managing Director, Global Secure AI Lead at Accenture, Sunil Soares, Founder and CEO at Your Data Connect, and Charles Calovich, Channel Business Development Manager at Hyperproof, as they discuss how to navigate the new regulation and what it means for our future.

Watch now

 

President Donald Trump has suspended large tariffs for most countries, creating confusion among businesses and investors. The 90-day pause, which lowers tariffs to 10% on many imports, aims to allow countries to negotiate with the U.S. after the initial tariffs triggered a significant market downturn. However, China will now face tariffs of 125%. Mr. Trump explained that financial market volatility, particularly in bond trading, had informed his decision, commenting: "I thought that people were jumping a little bit out of line. They were getting yippy, you know. They're getting a little bit . . . afraid." Earlier on Wednesday, Treasury Secretary Scott Bessent had told reporters that market nervousness had not factored into the policy shift, saying: "[President Trump] and I had a long talk on Sunday, and this was his strategy all along." The pause does not apply to duties paid by Canada and Mexico, because their goods are still subject to 25% fentanyl-related tariffs if they do not comply with the U.S.-Mexico-Canada trade agreement's rules of origin. Those duties remain in place for the moment, with an indefinite exemption for USMCA-compliant goods.

 

AP News

NPR

Reuters

Wall Street Journal

According to a forecast by the National Retail Federation (NRF), U.S. imports could decline by at least 20% year-over-year in the latter half of 2025 due to President Donald Trump's new tariffs. Jonathan Gold, NRF vice president for supply chain and customs policy, said: "Retailers have been bringing merchandise into the country for months in attempts to mitigate against rising tariffs, but that opportunity has come to an end." The forecast predicts a total cargo volume drop of 15% or more for 2025 unless circumstances change. Retailers like Nike and Best Buy may need to raise prices as tariffs impact key manufacturing countries such as China, Vietnam, and Indonesia. The report was produced before the White House's announcement of a 90-day pause on the reciprocal tariffs it announced last week and the introduction of a 125% levy on goods from China.

 

U.S. News

The U.S. has issued a warning regarding deceptive recruitment tactics employed by Chinese intelligence targeting current and former U.S. government employees. The National Counterintelligence and Security Center said: "Foreign intelligence entities, particularly those in China, are targeting current and former U.S. government employees for recruitment by posing as consulting firms, corporate headhunters, think tanks, and other entities." The warning comes amid significant federal layoffs. The centre emphasized that individuals with security clearances must continue to protect classified information even after leaving federal employment.

 

U.S. News

The United States has withdrawn from negotiations in London aimed at advancing decarbonization in the shipping sector, citing a rejection of economic measures based on greenhouse gas emissions. A diplomatic note stated: "The U.S. rejects any and all efforts to impose economic measures against its ships based on GHG emissions or fuel choice." The discussions were part of the UN's International Maritime Organization (IMO) efforts to establish a carbon levy for shipping, which accounts for nearly 3% of global carbon dioxide emissions. The U.S. warned of potential reciprocal measures against any fees imposed on its ships, urging other nations to reconsider their support for the proposed GHG emissions measures.

 

U.S. News

U.S. District Judge Trevor N. McFadden has ordered the White House to restore The Associated Press' full access to cover presidential events, emphasizing that “the government cannot punish the news organization for the content of its speech.” The decision comes after the AP was blocked from covering President Trump in the Oval Office and aboard Air Force One. The AP argued that Trump's actions violated its constitutional rights, after he retaliated against the organization for its terminology regarding the Gulf of Mexico. Judge McFadden's ruling highlights the First Amendment's protection of press freedoms, stating that the government cannot selectively grant access based on viewpoints. “For anyone who thinks The Associated Press' lawsuit against President Trump's White House is about the name of a body of water, think bigger,” Julie Pace, the AP's executive editor, wrote in a Wall Street Journal op-ed. “It's really about whether the government can control what you say.”

 

OregonLive.com

Paramount and U.S. President Donald Trump are set to begin mediation in his $20bn lawsuit against CBS News after the two sides agreed on a mediator, the New York Times reports, citing two people familiar with the decision. Trump's lawsuit accuses CBS of editing an interview with former Vice President Kamala Harris that aired on its "60 Minutes" news program in a way that was misleading. Ed Paltzik, a lawyer representing Trump in the case, said: “President Trump will pursue this vital matter to its just and rightful conclusion.”

 

New York Times

IDC analysts say that the tariffs announced by President Donald Trump last week, and the escalation in rates with China in the days since, could drive up information technology prices and weaken global IT spending this year. “If the measures announced on April 2 stay in place and trigger an escalation of retaliatory measures leading to a global recession, the impact on IT spending will be swift and downward, potentially leading to the worst market performance since the great financial crisis of 2008-2009,” they wrote in the report. A weakening economy will lead to IT spending cuts and delays in the next six months, according to the IDC report. The research firm’s March 31 forecast of 10% growth for global IT spending in 2025 will be “reduced significantly” based on last week’s tariff announcements, IDC analysts said. “While this impact will be most immediate in devices . . . and network hardware as well datacenter construction, even sectors such as software and services will be affected if tariffs are longer lived,” they said. 

 

CFO Dive

According to Stanford University's 2025 AI Index Report, the performance gap between leading AI models from the U.S. and China has narrowed to "near parity" in 2024. Despite the U.S. imposing chip sanctions, which have impacted China's development of Large Language Models (LLMs), Chinese researchers have adapted and advanced their models significantly. The report highlights that "the launch of DeepSeek's V3 model in December 2024 garnered significant attention" due to its high performance with fewer computational resources. While the U.S. still leads in the number of notable AI models, producing 40 compared to China's 15, the report also notes a concerning rise in AI-related incidents, which increased by over 50% in 2024.

 

The Independent UK

Harley-Davidson announced on Tuesday that Jochen Zeitz plans to step down as chief executive, effective when a successor is appointed. During his tenure, Zeitz has boosted Harley’s profit but has seen sales of the bikes continue to decline. The company last year sold 151,000 motorcycles worldwide, less than half as many as it sold in 2008. Harley’s network of dealers often criticized Mr. Zeitz as being out of touch with the brand’s distinct culture. He grew up in Germany and had made his name rescuing sportswear company Puma, but as sales continued to decline, some said he didn’t understand what made Harley riders tick.

 

Wall Street Journal

Bloomberg reports that At Home Group is discussing a debt-restructuring proposal with some of its lenders that could potentially hand control of the troubled retailer to creditors. At Home’s debt has been trading at distressed levels as it struggles to grow revenue, with its $600m first-lien term loan now quoted at nearly 38 cents on the dollar. 

 

Bloomberg

Prada has reduced its planned acquisition price for Versace from approximately $1.6bn to about $1.38bn, a decrease of over $200m, due to the repercussions of US tariffs. An announcement on the deal could come as soon as today.

 

Financial Times

Wall Street Journal

The Ukrainian government has allocated $2.7m for consulting services related to a draft minerals deal with the United States. The funds will be used to hire consultants experienced in public debt management and international law. Deputy Prime Minister Yulia Svyrydenko said that a team will travel to Washington this week to further negotiations on the strategic agreement. U.S. President Donald Trump has said that a bilateral agreement could facilitate a peace deal by providing the US with a financial interest in Ukraine's future.

 

U.S. News

Research published in Nature Communications suggests that meal timing may significantly impact cardiovascular health for night shift workers. Led by Professor Frank Scheer from Brigham and Women's Hospital in Boston, Mass., the study involved twenty healthy adults who were kept in a time-free environment to simulate night shift conditions. Participants who ate only during the day showed stable cardiovascular risk factors, while those who ate at night exhibited increased risks. "Night shift workers can avoid the cardiovascular disease risk associated with shift work if they eat only during the day," the research team concluded. The findings suggest that adjusting meal times could be a simple yet effective strategy for mitigating health risks linked to irregular work hours. However, the researchers acknowledge the need for further studies - particularly with larger sample sizes - to confirm these results.

 

The Jerusalem Post