Over 200 injured in French school protests

 

TT-AFP

Published 23.20

 

Riot police were deployed on Wednesday in Lille, where high school students had been protesting. Photo: Jean-Francois Badias/AP/TT

More than 600 people have been detained following major protests regarding the situation in French schools. On Wednesday, at least 83 police officers were injured in clashes with demonstrators.

Since last week, high school students in France have been protesting against issues such as scheduling, class sizes, and teacher shortages.

The protests began in the Paris area and have spread to numerous cities, becoming increasingly violent in the process.

Interior Minister Laurent Nuñez has condemned the "throwing of projectiles, violent crimes, verbal assaults, and attempted arson" directed at police officers, stating that at least 83 officers were injured during protests at 356 schools on Wednesday alone. A total of 625 people have been detained.

Since the protests began, 119 students and school staff members have been injured, including in Lille, where police used tear gas to disperse demonstrators. 

Trump’s USA

US Military
Hegseth: One in five generals to be fired before year-end

US Secretary of Defense Pete Hegseth says that the US will have dismissed 20 percent of the country's generals and admirals before the end of the year, AFP reports. The initiative is set to begin in the spring of 2025.

He states that commanders who did not react positively to last year's remarks—describing the military as too "fat" and focused on left-leaning ideas—"no longer work here."

The statement has drawn criticism from figures including Democratic Senator and former fighter pilot Mark Kelly.

"He harbors some kind of deep-seated grudge against military leadership. He is purging a generation of great military leaders, and it will take a generation to recover from that," he said, according to the AP. 

Midterm Elections
Democrats hope for an upset in Nebraska

Democrats hope to pull off a surprise in Republican-dominated Nebraska and win a Senate seat, NBC reports. Independent candidate Dan Osborn, who is backed by the Democrats, is challenging Republican Pete Ricketts.

The network has spoken with several voters in the state, including Republican Chris Holder, who is considering voting for Osborn.

"A working-class guy, involved in the union, who seems down-to-earth and rooted in Nebraska," he says of the candidate.

The Democrats need to win four additional seats to gain control of the Senate. Trump’s USA • The US 

Iran to US voters: Vote out Trump’s allies

In a 26-page letter written in English and Persian, Iran’s Revolutionary Guard urges Americans to vote out Trump’s allies in the November 3 congressional elections and to reject US support for Israel as well as military interventions abroad, Reuters reports.

"Remove the evil, deceitful, and violent politicians responsible for the current situation in the US," the letter states.

According to analysts interviewed by Reuters, Iran is focusing on issues that could damage the Republicans' electoral prospects, including the war, its economic consequences, and rising gasoline prices.

The letter comes as the last US troops are withdrawing from Iraq. Iran describes the withdrawal as both a victory and proof that US military policy in the region has failed, according to Reuters and the AP.

Economy

US Growth
Price concerns weigh on households – confidence at 12-year low

Despite the US economy running at full throttle, household confidence in the economy is falling. According to the Conference Board’s monthly survey, confidence dropped in September to its lowest level since 2014.

"Consumers expect both business conditions and the labor market to weaken over the next six months," says the organization’s chief economist, Dana M. Peterson, in a press release.

Concerns regarding high prices and the cost of living also reached new highs in the survey, she adds. 

Union threatens VW with strike: "A dirty game against employees"

The German trade union IG Metall accuses Volkswagen of declaring war on its employees and threatens a strike next year, Reuters reports.

During negotiations on Wednesday, the automotive giant announced that, starting at the turn of the year, it is terminating several collective agreements that regulate matters such as working hours and vacation time.

"This is a dirty game against the workforce and yet another shameless attempt to take money out of the employees' pockets," says IG Metall negotiator Thorsten Gröger in a press release.

VW’s management believes new agreements are necessary to secure the company's future, Reuters writes.

Volkswagen had already planned to nearly double its workforce reductions to around 100,000 jobs over the coming years.

The Fed vs. inflation

Analysis: The inflation surprise looks better than it actually is

The unexpectedly sharp slowdown in US inflation in August is largely explained by changes in measurement methods and downward revisions of previous inflation figures. This is according to Barron’s Megan Leonhardt and DI’s Nils Åkesson, following Wednesday’s PCE figures from the statistical agency BEA.

"Furthermore, Wednesday’s release contains relatively old figures that do not capture the recent sharp rise in diesel prices," writes Leonhardt.

The BEA’s previously announced new measurement methods "are no magic wand that suddenly turns down the temperature on prices," writes Åkesson. The inflation news is merely "a mirage" for those hoping the Fed will view it as an argument against further interest rate hikes. This explains the market's relatively lukewarm reaction, he reasons.

CNBC’s Fred Imbert also notes that the market's positive reaction is cautious, but instead highlights...

US core inflation falls – market cheers

US inflation, as measured by the Federal Reserve’s key metric—core PCE—fell unexpectedly in August to an annual rate of 3.0 percent. This is shown by new figures from the statistical agency BEA.

It had been expected to remain at the previous month's level of 3.3 percent, according to a forecast compilation by Trading Economics. According to analysts, the major surprise is largely explained by changes in measurement methods and the simultaneous downward revision of previous inflation figures.

Standard PCE inflation fell to 3.4 percent, compared to an expected 3.7 percent.

At the same time, data from payroll processor ADP shows stronger-than-expected employment figures. Employment in the US private sector rose by 90,000 in September, versus the 75,000 expected in a Bloomberg survey.

US stock markets strengthened markedly in pre-market trading, and long-term market interest rates turned lower following the inflation announcement. The Stockholm stock exchange also initially saw a sharp rise.

Market sentiment shifts – lower expectations for a Fed rate hike

Market expectations that the Federal Reserve will raise the US benchmark interest rate in October are waning following today's news that core inflation unexpectedly slowed in August.

The futures market is now pricing in a 35 percent probability of a 25-basis-point hike. Yesterday, the probability of a hike was priced at 51 percent, compared to 49 percent for the rate remaining at 3.75–4.00 percent, according to CME FedWatch.

...today's unexpectedly strong job figures from ADP as an explanation.

 

 

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