CHICAGO (AP) — The Seattle Seahawks placed running back Kenneth Walker III on injured reserve prior to their game against the Chicago Bears on Thursday because of an ankle injury. Walker hurt his ankle in last week's loss to Minnesota and left that game after sitting out the previous two because of a calf problem. He also missed two weeks in September with an oblique issue. Walker has run for 573 yards and seven touchdowns on 153 carries. A second-round draft pick by Seattle in 2022, he has 2,528 yards rushing and 24 TDs in his career. Walker could, in theory, return if the Seahawks win two playoff games, though their postseason hopes were slim entering the game against Chicago. Seattle (8-7) trailed the NFC West-leading Los Angeles Rams (9-6) by one game with two to play. The Seahawks' best path to the postseason was to win the final two regular-season games and have Los Angeles lose to Arizona on Saturday. Seattle visits the Rams to close the regular season. With Walker out, Seattle signed rookie running back George Holani off the practice squad. ___ AP NFL: https://apnews.com/hub/NFL The Associated PressUnretired two-time Pro Bowl LB Shaquil Barrett signs to resume career with Tampa Bay Buccaneers

Tottenham are expected to be active in the upcoming January transfer window Tottenham Hotspur will be looking to put 2024 behind them, with the last two months being a real struggle for Ange Postecoglou’s side to compete in the Premier League with a never-ending injury list. Over the last few weeks, Ange Postecoglou has had to cope without his first-choice goalkeeper Guglielmo Vicario and centre-backs Micky van de Ven, Cristian Romero and Ben Davies. Richarlison and Wilson Odobert are both recovering from hamstring injuries while academy starlet Mikey Moore is gradually returning to full fitness after being hit by a bad virus. Injuries have certainly played a big part in Spurs enduring a tough season, although the lack of a plan B from the Australian tactician has proven detrimental with him unwilling to adapt his style of playing despite current circumstances. Players have been shoehorned into different positions and asked to play in the same manner, and it just hasn’t worked out. The January transfer window is coming at the right time for the Lilywhites to add to their squad which has been decimated by injury problems. Sky Sports reporter Dharmesh Sheth has now shed light on Tottenham’s January transfer business, claiming they could add one or two players who are likely to be young talent rather than established stars. “They’re still fighting for a top-four finish, or at least a European finish. They’re still fighting to get into the top eight, into the automatic qualification spots for the Europa League. They’re into the quarter-finals of the EFL Cup as well. The FA Cup is to come too, and that’s a game against a non-league team, if I remember correctly. So, they’d expect to progress in that competition as well,” Dharmesh Sheth said in an exclusive interview with GIVEMESPORT . “So, they’re going to have a lot of fixtures. So maybe, numbers-wise, they might look at January as an opportunity to bring in one or two players, but the approach from Tottenham has been clear. They’re not going into the market and buying the established 25/26-year-olds anymore. They’re going at the other end of the market. The young players with potential, but with that is going to come inconsistency.” Spurs spent big money on Dominic Solanke in the summer and the English striker has done a good job so far, directly contributing to 15 goals in 23 appearances . That is a good return from Solanke playing in his first season under Big Ange, but Tottenham could do with a backup striker to fill in for their club-record acquisition when he’s unavailable or needs a break. Vitor Roque , currently plying his trade for Real Betis on loan from Barcelona, has been watched by a Spurs scout recently. The Brazilian is only 19 and fits the profile of signings Spurs have made in recent transfer windows. Defensive reinforcements are an absolute must owing to injuries to Van de Ven, Romero and Davies. Young midfielder Archie Gray playing in central defence alongside Radu Dragusin is not ideal in any case, and Spurs require a bit of depth in that weakened position. Atalanta’s Ben Godfrey has been subject to links with a move to White Hart Lane in recent times. All in all, the winter transfer window will allow Tottenham to take stock and fortify their squad. All eyes will be on Daniel Levy as Spurs hope to have a productive second half of the season. This article first appeared on To The Lane And Back and was syndicated with permission.

Transrail Lighting Limited's initial public offering (IPO) is set to witness its final day of public subscription on Monday, December 23. The public issue opened for bidding on Thursday, December 19. Stock market investors will have till Monday, 5 p.m., as the time period for applying for the public offer. The Transrail Lighting IPO has been subscribed 5.31 times the shares on offer as investors bid for 7,38,94,750 shares, compared to the 1,39,16,742 shares on offer. The company has fixed the price band for the public issue in the range of ₹ 410 to ₹ 431 per share, with a lot size of 34 shares per lot. Transrail Lighting IPO latest GMP As of December 22, the grey market premium (GMP) for the Transrail Lighting public issue is at ₹ 175 per share. With the upper price band for the issue at ₹ 432, the shares are expected to be listed at ₹ 607 per share, a premium of 40.51 per cent, according to the data collected from Investorgain.com. Grey market premium ( GMP ) is an indicator of the investors' willingness to pay more for a public issue. The GMP fell to its current level on December 21, and as of the publishing of this article is at ₹ 175. Earlier the GMP rose to ₹ 185 on December 19. Transrail Lighting IPO subscription data The initial public offering of Transrail Lighting received strong subscriptions from all three investor portions as of the second day of the public issue. The Non-Institutional Investors (NIIs) led the bidding round subscribing to the public offer 7.23x compared to the shares available. The retail investors followed the NII lead, coming in at 6.90x the shares on offer for the portion. The Qualified Institutional Buyers (QIBs) also subscribed 1.38 times the shares available on the second day of the Transrail Lighting IPO. Transrail Lighting IPO Apply or not? Assigning a “Subscribe - Long Term” rating to the initial public offering of Transrail Lighting, stock brokerage Anand Rathi said, “The growing demand for power, coupled with government initiatives, has driven the need for transmission and distribution lines. The company is well-positioned to supply T&D products and efficiently manage multiple projects across various countries. We believe that the issue is fairly priced.” “At the upper band company is valuing at 24.8x its FY24 EPS. Following the issuance of equity shares, the company's market capitalization stands at ₹ 57,998.6 million, with a market cap-to-sales ratio of 1.4 based on its FY24 earnings,” said the analysts. The company aims to use the ₹ 400 crore raised from the fresh issue towards funding working capital requirements, capex requirements, and general corporate purposes. The issue is set to open on December 23 for its final bidding day; the shares are expected to be listed on Friday, December 27. Disclaimer: The views and recommendations above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.Drop in Boxing Day footfall ‘signals return to declining pre-pandemic levels’

Unretired two-time Pro Bowl LB Shaquil Barrett signs to resume career with Tampa Bay BuccaneersHaving macroeconomic and financial system stability being restored, the focus should shift towards enhancing growth prospects that are both inclusive and sustainable 2024 is a year to be remembered in Sri Lanka’s economic journey since many challenges faced by the country have significantly eased. Sri Lanka is returning to normal after recurring economic shocks since 2019, including the Easter Sunday attack, the pandemic, and the economic crisis. The global economy also exhibited economic resilience amidst multiple challenges, with a soft landing compared to what was feared. Meanwhile, geopolitical conditions became unfavourable. Let’s dive deeper into these. In 2024, Sri Lanka made notable progress in restoring macroeconomic and financial system stability. Following a selective debt-standstill announcement in 2022, external debt restructuring negotiations were concluded in 2024. Subsequently, the country exited the restricted default status it had experienced over two and a half years. Further, the sovereign rating was upgraded by several notches, thus reducing the country’s risk premium substantially. The Extend Fund Facility of the International Monetary Fund (IMF) continued successfully and the Executive Board's approval for the second review and staff-level agreement for the third review were reached in 2024. These developments, along with political stability built on a stronger mandate, helped ease market conditions and enhance bullish market sentiments during the latter part of the year. The key macroeconomic indicators improved compared to alarming levels that prevailed in recent years. Inflationary pressures eased notably, and the country recorded temporary deflation after several years. This allowed the easing of monetary conditions further during the year to support credit expansion and economic activity. Moreover, economic growth recovered at a faster pace, facilitated by low interest rates, improved economic sentiments, reviving domestic and external demand, and a lower statistical base of growth in 2023. Importantly, persistent imbalances in the fiscal sector were largely adjusted through fiscal consolidation measures and improved fiscal discipline. Buffers of foreign reserves to withstand external shocks were improved, supported by continuous forex purchases by the Central Bank. Meanwhile, reflecting the external current account surplus supported by increased net inflows of forex and positive market sentiments, exchange rate appreciation continued in 2024 as well. These improvements on the external front alongside the need to increase fiscal revenue prompted the Government to consider the relaxation of remaining import restrictions by the end of the year. In addition to the improvements on the macroeconomic front, the financial sector resilience also improved, and any financial sector catastrophe was avoided decisively. Key financial soundness indicators, including capital adequacy, credit quality, liquidity, and profitability, have shown improvement in the year. Completion of the restructuring of foreign currency debt held by the banks reduced the uncertainties and risks to the banks. Prominently, the legal framework governing the banking system was further strengthened to enhance the soundness of the banking sector, including the areas of governance, related party transactions, large exposure, and ownership. Money market and financial market performances were enhanced, and the stock market reached new heights. Nevertheless, the scarring effect of the prolonged economic hardships on the people and businesses remains. Targeted policy measures to support the most vulnerable segment of the population and businesses would offer temporary relief for survival. Nevertheless, improving inclusive economic growth prospects would be a lasting solution to this problem. Global economic prospects revived, even amidst tighter disinflationary policies of central banks and continued stiff financial conditions. However, global growth over the medium term is projected to hover below the averages recorded before the pandemic. Inflation in many countries returned closer to the targeted levels, after spikes observed during 2022-2023. This disinflation record without leading to global recession is commendable, thanks to the synchronised monetary policy measures and eased global supply. Subsequently, consistent reduction in inflation and anchored inflation expectations facilitated transition towards broad-based monetary policy easing. In 2024, major advanced countries, including the USA, UK, and European Union, began to reduce policy interest rates, after maintaining tighter monetary stance in 2022 and 2023. Meanwhile, prices of key commodities, such as crude oil, LP gas, coal, and agricultural products, exhibited less volatility and stabilised at a lower level, due to an improvement in demand-supply mismatches. The US dollar strengthened against its major rivals, as measured by the US dollar index. Several political developments unfolded this year with many countries electing new political administrations. Shifting major policy priorities in global superpowers, particularly the USA, could shape the global geoeconomic and social dynamics in the period ahead. In general, fiscal performance worsened globally in 2024 and fiscal sustainability concerns have resurfaced. Global public debt widened in 2024 and is set to increase further in the coming years. Even though it is mainly driven by the USA and China, increasing public debt is becoming a widespread issue. Moreover, fiscal vulnerabilities are emerging further, prompting warnings from multilateral agencies on the high likelihood of sovereign distress in many countries. From a medium-term perspective, pursuing fiscal adjustment through fiscal consolidation, building fiscal buffers along with enhancing fiscal governance would help mitigate the lingering effects of debt unsustainability and the need for painful one-time fiscal adjustments. The time is conducive now, as easing global monetary conditions creates space for countries to absorb the impact of fiscal tightening. On the financial front, the near-term risks to global financial stability remain muted, supported by stable macroeconomic conditions and easing monetary conditions. However, the possible spillovers of growing economic and geopolitical uncertainties on economic sectors and financial system cannot be ruled out. Meanwhile, social indicators, including poverty reduction, gender equality, and female labour force participation, did not show any significant progress during the year, and thus requiring continuous global attention. Sri Lanka has once again demonstrated its resilience by emerging from the deepest economic crisis in record time. This was possible through decisive policy measures involving multiple stakeholders and international partners. However, it is essential not to become complacent and to continue prioritising structural reforms. Sri Lankans have now fully understood the cost and implications of persistent economic imbalances and macroeconomic instability. Any step forward should be taken cautiously to circumvent backtracking from the strong reform agenda. Having macroeconomic and financial system stability being restored, the focus should shift towards enhancing growth prospects that are both inclusive and sustainable. Reforms aimed at addressing remaining structural economic issues and vulnerabilities should continue in the same spirit. Since the global environment is becoming ever more unpredictable, Sri Lanka should build buffers in its external, fiscal, financial, and monetary sectors to withstand externally driven shocks with minimal adjustment cost. Additionally, Sri Lanka needs to adapt to global megatrends, such as climate change, geoeconomic fragmentation, the adoption of artificial intelligence, and the aging population. Such preparation will empower Sri Lanka to navigate the evolving global landscape effectively in the years to come.CNN's Van Jones admits Democrats are 'relieved' after Kamala's humiliating 'brat to flat' loss CNN star Van Jones' voice cracks as Kamala Harris' election hopes fade View the full results of the US election via our live-updating maps and charts By CHARLIE SPIERING, SENIOR POLITICAL REPORTER, WASHINGTON, DC Published: 18:46 EST, 12 December 2024 | Updated: 18:56 EST, 12 December 2024 e-mail View comments CNN 's Van Jones revealed Thursday that Democrats should be relieved that Vice President Kamala Harris lost the election , allowing them the opportunity to have a 'reckoning' in the party about the future. Jones participated on a DealBook New York Times panel of professional Republican and Democratic political operatives as well as media figures examining the aftermath of the 2024 presidential elections. He said that Harris only got worse in the presidential campaign after she took over from President Joe Biden in July. ‘Kamala’s campaign went from brat to flat and it was obvious,' he said, referring to the viral online memes of musical artist Charli XCX describing Harris as 'brat .' The campaign seized the moment to proclaim Kamala Harris' 'brat summer' which drove TikTok memes but did not ultimately prevail in the election. 'There was a moment when she first got in there, she was loose and she seemed to be saying "f it" and people could relate to that,' Jones said. 'Then it got super professional, super slicked up, it became talking point bingo and people didn’t stick with her.’ He embraced the party's devastating loss to Republicans in the 2024 election, with no majority in the House or the Senate , and with a solid conservative majority on the Supreme Court . ‘Kamala Harris promised us freedom, well she delivered it to us, because now we’re free from having to run anything in Washington, DC ,' Jones said. 'That’s not what we were signing up for but that’s what we got.’ Vice President Kamala Harris delivers a concession speech for the 2024 presidential election Jones criticized the Democratic party for pushing out the 'rebels' who were once Democrats, such as Elon Musk, Joe Rogan, and Robert F. Kennedy Jr. who felt alienated by the party and endorsed Trump in 2024. 'There's something that's happened in this party where the rebels in this party no longer feel like they have a place, and we've got to be able to talk about that stuff honestly,' he said. Jones, a former administration official for President Barack Obama and Vice President Joe Biden criticized Biden for running for re-election in 2024, when Democrats expected him to be a one term president. 'I love him, he should have walked away and let other people in this party step up to the bat, he didn’t, and we paid the price,' he said. Van Jones was sharply critical of the left-wing activist driving the Democratic party Jones also criticized leftist activists for 'dehumanizing' others to build up their own political and social status. 'I love all our movements but there is a moral flaw when every movement has to put somebody down,' he said. Jones criticized groups like 'Black Lives Matter' for suggesting that 'all white people were racist.' 'That is not going to work ... the way it lands though with people is that you're calling people names. There's gotta be a better way to say it,' he said. Kamala Harris CNN Joe Biden Democrats TikTok Share or comment on this article: CNN's Van Jones admits Democrats are 'relieved' after Kamala's humiliating 'brat to flat' loss e-mail Add comment

Conor McGregor must pay woman $257,000 in sexual assault civil case

The U.S. Department of Commerce, Bureau of Industry and Security (“BIS”) recently issued significant new export controls under the Export Administration Regulations (“EAR”) aimed at further restricting semiconductor manufacturing in China, with a particular focus on new controls for semiconductor manufacturing equipment (“SME”) and items that are the “direct product” of U.S. technology or software. In a coordinated action, BIS also designated 140 companies on the Entity List. All companies in the semiconductor value chain worldwide should heed the new rules, which have global effect in certain key respects, and should monitor future developments in this area, as reports indicate that the Biden Administration could issue further rules before the presidential transition on January 20. The relevant Federal Register notice , comprised of 40 pages of rulemaking in the form of an interim final rule (“IFR”), is worth reading in its entirety in order to gain valuable insights regarding interpretational points and BIS’s overall policy approach. Industry can submit comments on the IFR through January 31, 2025. This alert sets out key points regarding the IFR. For background, see here for our previous summaries of EAR semiconductor export controls. BIS has issued two new foreign direct product rules (“FDPRs”) . BIS’s use of various FDPRs—i.e., rules that exercise EAR jurisdiction over non-U.S. items that are based on certain U.S. technology or software—has been a staple of its rulemaking in the semiconductor export control context dating back to October 2022, and the new measures expand upon that approach. The first new FDPR extends EAR jurisdiction to non-U.S. SME that: meets the description of export control classification numbers (“ECCNs”) ECCN 3B001.a.4, c, d, f.1, f.5, k to n, p.2, p.4, r, or 3B002.c; and is the direct product of technology or software subject to the EAR and controlled under ECCNs 3D001 (for 3B commodities), 3D901, 3D991 (for 3B991 and 3B992), 3D992, 3D993, 3D994, 3E001 (for 3B commodities), 3E901 (for 3B903), 3E991 (for 3B991 or 3B992), 3E992, 3E993, or 3E994, or of a plant or plant equipment that is the direct product of such technology or software. The second new FDPR applies to entities designated on the BIS Entity with a “footnote 5” designation (a newly created designation). For transactions with such entities, any item made outside the United States will be subject to the EAR if it is the direct product of technology or software subject to the EAR and controlled under ECCNs 3D001, 3D901, 3D991, 3D992, 3D993, 3D994, 3E001, 3E002, 3E003, 3E901, 3E991, 3E992, 3E993, 3E994, 4D001, 4D993, 4D994, 4E001, 4E992, 4E993, 5D001, 5D991, 5E001, or 5E991, or of a plant or plant equipment that is the direct product of such technology or software. Notably, the new FDPRs also provide that they apply where the non-U.S. item contains a commodity (i.e., physical content) that is the direct product of technology or software subject to the EAR and controlled under ECCNs 3D001 (for 3B commodities), 3D901, 3D991 (for 3B991 and 3B992), 3D992, 3D993, 3D994, 3E001 (for 3B commodities), 3E901 (for 3B903), 3E991 (for 3B991 and 3B992)), 3E992, 3E993, or 3E994, or of a plant or plant equipment that is the direct product of such technology or software. The IFR makes clear that this applies to items that contain any integrated circuit, regardless of where it is manufactured, based on the pervasiveness of U.S. technology and software throughout the semiconductor manufacturing value chain. This concept also extends to any U.S.-origin integrated circuits incorporated into the item. Furthermore, it should be noted that certain exclusions can apply based on the country from which the item is exported, including whether BIS specifically has excluded the exporting country in Supplement No. 4 of Part 742 of the EAR, or the country otherwise has enacted export controls over the relevant item “equivalent” to U.S. controls. These exclusions are highly complex and should be reviewed carefully. The IFR sets out several new ECCNs, revises other ECCNs, and establishes new export licensing requirements under its “National Security” (“NS”) and “Regional Stability” (“RS”) controls. The IFR newly controls various items, revises existing controls, and provides for new export licensing requirements, as follows: New ECCN 3A090.c : The IFR controls certain high-bandwidth memory (“HBM”) items. Revisions to various SME ECCNs : The IFR adjusts ECCNs for several SME items, including 3B001, 3B002, 3B991, 3B992, and 3D002. New ECCNs 3B993 and 3E993 : These control certain SME items released from stricter controls under ECCN 3B001, and related technology. New ECCNs 3B994, 3D994, and 3E994 : These control certain SME items that can support “advanced-node” integrated circuit production, but do not warrant the strict controls set out in ECCN 3B001, along with related software and technology. New ECCNs 3D992 and 3D993 : These control certain electronic computer-aided design (“ECAD”) software. New ECCN 3E992 : This controls certain technology relating to certain 3B001 items. The above controls mainly are aimed at exports, reexports, and transfers (in country) to parties in China and other destinations in Country Group D:5. As under the FDPRs described above, certain highly complex exclusions apply, which should be reviewed closely. The IFR sets out new license exceptions and a new temporary general license (“TGL”) and revises other TGLs. The new rule sets out the following exceptions and authorizations for exporters: License Exception HBM (EAR § 740.25) : This authorizes exports of HBM items newly controlled under ECCN to 3A090.c by companies headquartered in the United States or A:5 countries (and not headquartered in China or other D:5 country), subject to extensive conditions, restrictions, and reporting requirements. License Exception Restricted Fabrication Facility (“RFF”) (EAR § 740.26) : This authorizes certain exports of items subject to the EAR (other than those controlled under ECCNs 3B001, 3B002, 3B993, 3B994, 3D992, 3D993, 3D994, 3E992, 3E993, or 3E994) to certain fabrication facilities associated with entities on the Entity List that have a “740.26” notation in the relevant listing, so long as other controls (such as destination-based controls or other Part 744 end-use / end-user controls) do not apply, and subject to certain restrictions and notification and reporting requirements. TGLs (Supplement No. 1 to Part 736 of the EAR, General Order No. 4): The EAR provides for certain TGLs temporarily authorizing export of certain “less restricted” SME items and advanced computing items, subject to certain conditions. The IFR amends these as follows: Adds references to certain newly controlled SME and HBM items. Extends the validity period for the SME TGL from December 31, 2025, to December 31, 2026. (There is no such extension for exports of advanced computing items.) Provides for a validity period for HBM exports through December 31, 2026. BIS has revised the end-use controls set out at Section 744.23 of the EAR. The new rule has revised the controls at Section 744.23 of the EAR, which address the export of items subject to the EAR in support of certain end-uses involving supercomputers, advanced computing items, and SME in China and other restricted countries. Among other changes, the revisions include: A new control for the export of ECAD and Technology Computer Aided Design technology and software in support of the design of “advanced-node” integrated circuits that will be produced in China or a D:5 country. Removal of the “back-end” exclusion for exports in support of SME development or production. The IFR amends the definition of “advanced-node” for DRAM integrated circuits. The definition of the term “advanced-node” is the touchstone of many of the semiconductor-related export controls in the EAR, and with respect to dynamic random-access memory (“DRAM”) integrated circuits, BIS has amended the definition in order to control items that had avoided control under the previous definition. Specifically, with respect to DRAM integrated circuits, BIS is discarding the prior reference to the “18 nanometer half-pitch or less” node, and replacing it with the following parameters: A memory cell area of less than 0.0019 μm 2 ; or A memory density greater than 0.288 gigabits per square millimeter. Following BIS’s imposition of generationally significant, pathbreaking new export controls for advanced computing items and SME in October 2022, the IFR marks the third occasion in which BIS has updated the restrictions and imposed significant new controls, after other measures in October 2023 and April 2024. BIS has made clear, both in the IFR and in public comments made by BIS officials, that it continues to take into account industry perspectives, the evolution of the subject technology, and typologies for export control evasion as it crafts its approach to the rules and related national security challenges.

SANTA CLARA, Calif. (AP) — San Francisco 49ers quarterback Brock Purdy will miss Sunday's game against the Packers with a sore throwing shoulder.The Dominican Republic’s ambassador to Turkey, Elvis Alam Lora, marked the 74th anniversary of diplomatic relations between the two nations with the event Held on December 4, 2024, at Marmara State University in Istanbul, the gathering celebrated shared history and culture through academic and cultural exchanges. Over 300 students and professors attended, highlighting the enduring ties between the Dominican Republic and Turkey. Ambassador Alam delivered a keynote lecture on “Lebanese-Ottoman Emigration to the Dominican Republic,” exploring the migration of families from the Ottoman Empire in the late 19th and early 20th centuries. He detailed the socio-political factors driving emigration and its impact on Dominican society. The program also included a presentation by a Marmara University student on Ottoman migration to Latin America, enriching the discourse on these historical connections. The event featured dramatizations in Spanish and Turkish of poems by Norberto James Rowlings and José Rafael Abinader, reflecting on themes of migration and cultural identity. The performances moved attendees and showcased the sensitivity of Turkish youth toward universal human experiences. The day concluded with a Dominican-themed cocktail, fostering dialogue on gastronomy, art, and literature, and reinforcing the strong friendship and cooperation between the two countries.

By Harsh Gour On December 8, 2024, the European Union (EU) implemented the revised product liability directive (Directive (EU) 2024/2853). This brings in a significant change in product liability rules. This update expands on the concepts outlined by the 1985 guideline. Nonetheless, it amends them to handle the difficulties of developing technologies such as artificial intelligence (AI), software and the Internet of Things (IoT). The world is becoming more entwined with digital and interconnected technology. These new directives guarantee that liability laws develop to protect consumers while encouraging technological innovation and sustainability. The present article explores the key aspects of the revised EU product liability directive, how it addresses AI and software, its applicability to the Indian regulatory landscape, and how other jurisdictions are dealing with similar challenges. The revised EU product liability directive officially came into force on December 8, 2024. However, its application will be gradual. EU member States must incorporate the provisions into their national laws by December 9, 2026. This gives governments ample time to adapt existing frameworks and introduce new regulations compatible with the directive’s requirements. From this date, the new rules will govern products placed on the market within the EU, meaning that businesses will have to comply with the revised liability standards for products launched after this period. The revised directive significantly broadens the scope of what constitutes a ‘product’. It incorporates risks presented by modern technologies and sustainability concerns: Digital products: The directive now explicitly includes software, AI systems and digital files as products subject to liability rules. This is a critical step as software and AI are central components in many modern devices, from autonomous vehicles to home automation systems. For instance, if an AI-driven car’s algorithm causes a crash due to a defect, the manufacturer could be held liable under this directive. Sustainability and circular economy: In line with the EU’s commitment to sustainability, the directive covers not only new but also refurbished, remanufactured and reused products. This aligns with the growing emphasis on the circular economy, where product lifecycle management becomes crucial. Products reused or refurbished must meet the same safety and liability standards as new ones, ensuring that consumers are protected regardless of a product’s age or origin. IoT and connected systems: One of the most significant updates is including interconnected systems, such as IoT devices. The directive recognises that interconnected devices, ranging from home appliances to industrial machines, can present complex risks. If a defect in one component of an interconnected system causes harm, the manufacturer of the faulty component can be held liable. A primary objective of the revised directive is to strengthen consumer protections while simplifying the process of filing liability claims. The following changes have been made to address the challenges that consumers face when seeking compensation: Simplified claims process: In the past, consumers were often required to provide complex technical evidence to prove a product was defective. Under the new rules, consumers no longer need to offer intricate technical proof. Courts can now infer a defect or causation if the evidence is inaccessible. This will simplify claims, especially in cases involving AI and IoT systems where the technical details can be beyond the average consumer’s understanding. Wider coverage of damages: The revised directive extends liability coverage to include personal injuries, property damage and data loss, resulting from defective products. This is particularly relevant in the digital age, where the failure of a software system or IoT device can lead to significant data breaches or personal harm. Accountability for systemic failures: The directive holds manufacturers accountable for product defects, software bugs, cybersecurity breaches and failures in interconnected product ecosystems. For example, if a security vulnerability in an IoT device leads to a widespread data breach, the manufacturer could be held liable for the damage caused. AI and digital products have presented new challenges for liability laws, especially when these systems evolve and learn autonomously. The revised directive explicitly addresses these challenges, providing clarity on the responsibilities of developers, manufacturers and businesses. Ongoing risks and lifecycle: One of the key challenges with AI systems is that they can evolve or learn after they are launched into the market. This creates ongoing risks, as developers may lose control over the system’s operation once it starts self-learning. The new directive clarifies that developers are responsible for ensuring the safety of AI products throughout their lifecycle, even after the launch. For instance, if an AI system in a healthcare application leads to incorrect diagnosis due to an evolving algorithm, the developer remains liable for the defect. Black box nature of AI: Many AI systems operate as ‘black boxes’, meaning their decision-making processes are not transparent or easily understandable. This can make it challenging to trace defects or determine faults. However, the directive helps to address this by allowing courts to infer liability based on circumstantial evidence. This will make it easier to hold developers accountable, even when the exact cause of failure is difficult to determine. Algorithmic risks: The directive explicitly covers the risks posed by biased algorithms, faulty data inputs and cybersecurity flaws in AI systems. For example, if a financial AI system makes discriminatory lending decisions based on biased data, the system’s creators can be held liable for the harm caused to affected individuals. Developers: The directive significantly burdens AI developers to ensure their systems are rigorously tested, validated and monitored. Developers must maintain clear documentation about how their systems work, the potential risks, and the safeguards to mitigate them. Failure to comply could result in liability for harm caused by defects or malfunctions. Businesses using AI: Organisations implementing AI systems must ensure that these systems are safely integrated into their operations. For instance, a company that adopts an AI-based facial recognition system must be responsible for ensuring that the system functions as intended and does not cause harm, such as wrongly identifying individuals. Shared accountability: In cases where multiple entities contribute to the development of an AI system, such as developers, data providers and hardware manufacturers, the directive holds all parties accountable for any defects that arise. This shared liability ensures that no one party can evade responsibility for harm caused by AI failures. As India continues to develop its technology sector, it faces a growing need to modernise its product liability laws to keep pace with digital and AI-driven products. There are several lessons that India can draw from the EU’s revised product liability directive: India’s current legal framework, which focuses on tangible goods and physical defects, must expand to cover digital and AI-based products. For instance, the Consumer Protection Act, 2019 must be updated to address the unique risks posed by software, AI and IoT products. India’s legal system should ensure that developers and manufacturers of digital and connected products are held to clear standards of safety and accountability. India should adopt provisions similar to those in the EU directive that simplify the claims process. Consumers often face challenges when dealing with complex technical products, particularly in AI and IoT cases. Simplifying the evidence requirements for claims and allowing courts to infer defects would make the process more accessible to ordinary consumers. While India encourages innovation, particularly in AI and IoT, it is equally essential to ensure consumer safety. India can draw inspiration from the EU’s balanced approach, which encourages innovation while setting clear standards for accountability. Developers and companies should be incentivised to create new technologies that are effective, safe and ethical. The US handles product liability through tort law, relying heavily on strict liability, negligence and warranty claims. However, the rise of AI and digital products has created gaps in the legal framework. As in the EU, the US needs to adapt its laws to address the risks posed by AI and IoT products. Some states, such as California, have taken steps toward regulating AI through data protection and transparency laws, but there is still a long way to go. The UK has taken a proactive approach to AI accountability, mandating risk assessments and monitoring for AI systems. In its AI strategy, the UK government has emphasised the need for clear regulations on AI safety, which will likely influence future product liability frameworks. India can adopt similar guidelines to ensure the safe deployment of AI in both private and public sectors. Japan has long been a leader in technology and innovation, and its legal framework for product liability reflects this. Japan focuses on continuous monitoring and risk assessment of AI and IoT products, ensuring that products are tested and certified before entering the market. India can benefit from this approach by establishing a robust system of pre-market and post-market assessments for AI-driven products. The revised EU product liability directive represents a significant step forward in ensuring that consumers are protected in the digital age, where the risks associated with AI, software and IoT devices are constantly evolving. The EU’s approach balances consumer safety with fostering innovation and sustainability. However, as technology evolves, the challenge will be maintaining this balance while accounting for new risks and promoting continued growth in the technological sector. Adopting similar measures is crucial for India, aligning with global standards and ensuring the country can harness its technological potential while safeguarding consumers. The lessons from the EU’s revised directive offer a solid foundation for India to develop a legal framework that embraces innovation without compromising safety, accountability and fairness. With the proper legal updates, India can navigate the complexities of the digital age while protecting its citizens and promoting technological advancement. (IPA ServiceNew Delhi: Manmohan Singh, who is credited with successfully anchoring the sinking ship of the Indian economy by ushering in bold economic reforms under Prime Minister P V Narasimha Rao, died at the age of 92 on Thursday. When Singh took the reins of the Finance Ministry in 1991, India’s fiscal deficit was close to 8.5 per cent of the GDP, the balance of payments deficit was huge and the current account deficit was close to 3.5 per cent of GDP. To make things worse, foreign reserves were just enough to pay for two weeks of imports indicating that the Indian economy was in deep crisis. Against this backdrop, the new economic era was brought in through the Union Budget 1991-92 presented by Singh. It was a turning point in the economic history of independent India which witnessed bold economic reforms, abolition of licence raj and opening of many sectors to private players and foreign players so that capital could flow in. He is credited with putting India on the new economic policy path which allowed Foreign Direct Investment (FDI), rupee devaluation, moderation in taxes, and privatisation of public sector companies. His role in ushering in a comprehensive policy of economic reforms is now recognized worldwide. “I present to you the budget of 1991-92”, Singh had said when he stood to present the iconic union budget that took the Indian economy into the direction of liberalisation, globalisation and privatisation. The budget marked a significant shift towards a markets-focused economy. This paved the way for rapid economic growth in the decades that followed. “No power on Earth can stop an idea whose time has come,” Singh had said, as he concluded his Budget speech. Under his tenure, the regulations on import and export were relaxed, and significant changes were made to cater to the needs of businesses. The initiatives taken during his tenure resulted in monumental growth of the services sector especially IT and telecom. On the capital market side, the establishment of the National Stock Exchange (NSE) in 1992 was another highlight of his regime. He continued as the Finance Minister till 1996, when the Rao government was voted out. Singh got another chance in May 2004 to serve the country, this time as the Prime Minister of India. He replaced Atal Bihari Vajpayee as the 14th Prime Minister of the country. In the new avatar, Singh carried forward the ideas of economic liberalisation in 1991 as this path was now tried and tested. In 2007, India achieved its highest GDP growth rate of 9 per cent and became the second fastest-growing major economy in the world. During his tenure as Prime Minister, the Mahatma Gandhi National Employment Guarantee Act (MGNREGA) was enacted in 2005 to deal with rural distress and perk up income. Indirect tax reforms were introduced by ushering in the value added tax, replacing sales tax. Besides, a Rs 76,000 crore farm debt waiver and debt relief scheme was implemented across the country which benefited crores of farmers. He also steered the nation during the 2008 global financial meltdown and announced a huge stimulus package to deal with the situation. Aadhaar was introduced through the Unique Identification Authority of India during his tenure as prime minister for targetted subsidy transfer. Direct Benefit Transfers for many schemes were announced under his leadership. He also promoted financial inclusion in a big way and many bank branches were opened during his tenure as the Prime Minister. Other reforms like the Right to Food and the Right of Children to Free and Compulsory Education Act were enacted during his regime.

Companies tighten security after a health care CEO's killing leads to a surge of threatsNorth America is home to some of the wealthiest cities in the world, but one of them stands head and shoulders above the rest. The city is known for its skyscrapers, busy streets, and has the reputation as a massive global financial hub. With a thriving economy and a history of attracting the world’s richest individuals, it’s no surprise the city has more billionaires and millionaires than anywhere else in the region. The city in question is New York City , home to 350,000 millionaires, 744 centi-millionaires (anyone worth 100 million or more), and 60 billionaires, according to Henley & Partner's Wealth Index . Its economy generated an impressive $1.286 trillion (£950 billion) in 2023, with Manhattan alone contributing $939 billion (£746 billion) - that's more than Poland’s entire GDP of $811.2 billion (£645 billion) in 2023. This cannot come as a surprise, considering that Wall Street alone hosts the world’s two largest stock exchanges, the New York Stock Exchange and Nasdaq. Beyond finance, New York thrives in industries like real estate, technology, media, and art. It’s a city where innovation meets tradition, and its influence extends globally. The diverse economy and opportunities have attracted people from all over the world, resulting in a population of over 8.2 million, speaking more than 800 languages. Known for its fast-paced lifestyle, New York is also home to some of the most expensive residential properties in the world. Fifth Avenue holds the title of the world’s most expensive shopping street, while Manhattan’s soaring rental prices show that the city appeals to both residents and businesses. But New York isn’t just a city for the wealthy elite; it’s also a place for culture and creative industries. From Broadway to world-class museums, the city offers a wealth of experiences that draw millions of tourists every year, who also contribute to its huge economy.