Paperjam.lu

The Italian government has lashed out at EU leaders, including the European finance commissioner Pierre Moscovici, who is French, over criticism of Italy’s budget plans. The Ansa news agency quoted Luigi Di Maio, one of Italy’s deputy PMs (on right), as saying: “Moscovici, who isn’t Italian, woke up and decided to make a statement against Italy, against the Italian (economic blueprint) DEF, and create tension on the markets”. Pictured: Luigi Di Maio arrives for an EU meeting in Luxembourg, 21 June 2018. Photo credit: European Council 

Italian budget woes

Eurozone finance ministers, meeting in Luxembourg, warned Italy that its current budget plans would breach EU rules, reported the AFP and Reuters. Italy’s draft budget would see its deficit rise to 4.3% and debt rise to 133% of GDP in 2019 (the caps are 3% and 60%, respectively). Investors sold Italian government bonds, pushing up yields, said Marketwatch. Italy’s deputy prime minister then accused EU leaders of “creating terrorism on the markets.” Italy has until 15 October to publish its final budget.

GE, Pfizer to get new chiefs

A pair of S&P 500 companies announced changes at the top. General Electric replaced John Flanner, chief executive of the industrial giant since August 2017, with Larry Culp, a member of GE’s board, reported the Financial Times and Reuters. Directors were unhappy with Flanner’s turnaround performance. GE shares closed 7% higher on the announcement. And Ian Read will retire as CEO of Pfizer on 1 January, after eight years heading the pharmaceutical giant. Read will be replaced by Albert Bourla, currently Pfizer’s COO, reported the AFP and Financial Times. Pfizer shares rose 0.45% on the news.

Bolivia loses Chile claim before UN court in the Hague

The International Court of Justice ruled against Bolivia in its case against Chile over access to the sea. Bolivia lost its Pacific Ocean coastline during a war with Chile in 1884. Bolivia wanted the court to force Chile to negotiate access. But judges voted 12-3 that Chile was not obliged to do so. Details from the AFP, BBC and NPR.

Tsunami alert was cancelled

Indonesian authorities prematurely cancelled a tsunami warning after Friday’s deadly earthquake that has killed more than 1,200 people, according to DW and Newser.

Cancer researchers receive Nobel prize

James Allison of the University of Texas and Tasuku Honjo of the University of Kyoto were named Nobel medicine prize winners, for discovering a new form of cancer treatment, as reported by the Economist, Guardian and The Scientist.

Geek corner

Here are 5 science and technology stories that you may have missed: Children aged 8 to 11 who logged less screen time performed better on cognitive tests in a US study, the BBC reported. There’s been a huge explosion in the number of “stablecoins”, cryptocurrencies supposedly backed by “real world” assets, according to MIT Technology Review. Aha, an Icelandic delivery service, has started delivering burgers, bananas and electronics in Reykjavik via drones, reported IEEE Spectrum. Only at a “secret” conference for companies launching flying cars would a speaker arrive on a jetpack, wrote Wired. “Married people who work with lots of members of the opposite sex are more likely to get divorced,” Science said of a recent Danish study.

Robot brothel in sleep mode

Authorities in Houston have temporarily stopped construction of the world’s first “robot brothel” in the Texas city, according to the Houston Chronicle. KinkySDollS, a Canadian company, did not have planning permission.

Today’s breakfast briefing was written by Aaron Grunwald