Category: 4-FrequentNewsStreams

President Donald Trump is scheduled to visit the Federal Reserve this afternoon. The visit is the latest turn in Trump’s campaign to pressure the Fed to lower interest rates. It's highly unusual for a president to visit the Federal Reserve; most stay away in a nod to Fed independence. And later: Did you remember to send a card? It's the 100th birthday of a research lab to which we owe much of modern life: Bell Labs.

As we head into the dog days of summer, it’s time to make the most of the season and check off items on our summer bucket lists. So, we sat down with John Kessler, Chicago Magazine dining critic, Ambar Colón, Chicago Sun-Times arts and culture reporter, Mike Davis, WBEZ theater reporter to get dining, ice cream and theater recommendations. For a full archive of Reset interviews, head over to wbez.org/reset.

From the BBC World Service: Indian Prime Minister Narendra Modi is in London sealing a major trade deal with the United Kingdom worth $6.5 billion. The agreement, billed as the biggest since Britain left the European Union, will slash India's tariffs on U..K goods from 15% to around 3%. We'll discuss the significance. Then, Armenia — a landlocked country of just 2.7 million people — is making big waves in tech, from coding labs and schools to startups.

This story was produced by our colleagues at the BBC.

High-flying and high-tech, the very latest in drone technology took to the skies over an airfield near the Danish city of Odense.

At the International Drone Show, 50 exhibitors showed off their wares. And because more money is flowing into military budgets, the emphasis was on defense.

Danish company Quadsat makes drones with satellite reading software. Besides civilian uses, the devices can also identify enemy radar.

"Over the years, we have seen an increasing interest from the defense side, no doubt about that, and that's also where we have a lot of work currently being carried out," said Klaus Aude, Quadsat’s chief commercial officer.

Leaders of the NATO military alliance have agreed to ramp up defense spending to 5% of their countries' economic output by 2035, following months of pressure from President Donald Trump.

Nordic countries have already committed to bigger budgets. Among them, NATO’s newest members Finland and Sweden, as well as long time members Norway and Denmark.

As Europe races to re-arm, drones are a sought-after technology. One estimate suggests the global market for defense drones is already worth over $24 billion, and could double by 2032.

"The Nordics have always been very strong in drone adoption, drone development," said Kay Wackwitz, chief executive of Drone Industry Insights.

"You can definitely see that those countries that have borders with Russia are really stocking up on those technologies. The commercial market is now struggling for its fourth year in a row with declining venture capital,” added Wackwitz. “And on the other side, we see a huge demand on the military end of things, which means a lot of companies are refocusing from the commercial space to the military space."

In June, low-cost Ukrainian drones carried out an audacious mission, destroying dozens of prized Russian fighter jets in a conflict that’s reshaped modern warfare.

North of Copenhagen in a hangar, Danish firm Nordic Wing makes drones used for battlefield surveillance and combat. Its customers are NATO countries, but they are largely destined for Ukraine, where “there was a huge need and a calling to have these systems helping on the front lines,” said Jonas Münster, CEO of Nordic Wing. “And therefore, the production went into overdrive. Now we have a European Union that is looking into what we've learned in Ukraine and realizing that we don't have a drone capability in Europe."

With a 2,000-square-kilometer flying zone, the drone port in Odense has grown into a hub for tech startups. Next year, military personnel will also be training there at a new $110 million army facility.

"Some militaries have actually made a shift from saying ‘every soldier is a rifleman,’ to ‘everyone is going to be a drone operator at some level,’” said Major Rasmus Ros, who’s part of Denmark’s Defense Command. “We're going to have drone operators in the whole joint military of Denmark. They can come here, get their basic training, share ideas and technology development, and then go back to their units and further develop that."

But not everyone is so positive about this. Outside the trade fair, protestors chanted "drones for peace, not war." New geopolitical realities are reshaping this fast-paced industry. And as this technology advances, ethical and regulatory concerns over the use of AI to pilot drones are also being raised.

In our news wrap Wednesday, more than 100 aid groups are warning of an increasingly dire situation in Gaza as Palestinians face mass starvation, Volodymyr Zelensky says he's reversing course on a bill that aimed to limit the powers of two anti-corruption agencies in Ukraine and reports say Attorney General Bondi told Donald Trump that his name appeared in files related to Jeffrey Epstein. PBS News is supported by - https://www.pbs.org/newshour/about/funders

The U.S. and Japan announced a trade agreement that President Trump hailed as a significant victory for American companies and consumers. In return, he said the U.S. won’t impose 25% tariffs on Japan at the end of this month. William Brangham discussed the details with Kate Kalutkiewicz of McLarty Associates, an international trade consulting firm. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Iran's nuclear program led to a direct military confrontation with the U.S. last month. Now, the Islamic Republic is trying to stabilize its nation, its program and its negotiating stance with the West. Nick Schifrin was among a group of reporters who sat down in New York with Iran's top nuclear negotiator. PBS News is supported by - https://www.pbs.org/newshour/about/funders

As dangerous heat bears down on Chicago, we get tips for staying safe. Plus, how climate change is making conditions riskier for all residents, especially those who work and spend lots of time outside. We sat down with Gaby Gracia, deputy director Great Lakes Center for Farmworker Health and Wellbeing at the UIC School of Public Health, and also Trent Ford, Illinois State Climatologist. For a full archive of Reset interviews, head over to wbez.org/reset.

Under the new agreement, American consumers will now face a 15% tax on Japanese imports — a major jump from the 1.5% rate set back in 2019. The White House says making imports more expensive will encourage more domestic production. But these tariffs could have the opposite effect when it comes to getting manufacturing back on American shores. Also on the show: AI infiltrates the perfume industry. But first, how a weak U.S. dollar is boosting earnings, and why companies are quiet about it.

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President Trump announced a trade deal with Japan that will impose 15% tariffs on imports. Wall Street is happy, but it could put the United States in an awkward position as the Trump administration continues to seek other deals. Sabri Ben-Achour explains. Also, the federal government is leading a major deregulatory crusade. And they want your input. Plus, quilts and blooming plants make us smile.

Here’s everything we talked about today:

• "Trump's Labor Department proposes more than 60 rule changes in a push to deregulate workplaces" from AP News
• "Trump Strikes Deal With Ally Japan Setting Tariff Rate at 15%" from Bloomberg

• Listener Jen’s quilting Instagram

  
  

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