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Bank of America CEO acknowledges AI is reducing certain departments while increasing minimum wage

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Bank of America has announced a landmark pay increase, raising its U.S. minimum hourly wage to $25 as of early October. The starting salary will be more than $50,000, it added. The decisions fulfill a “25 by 2025” commitment made in 2021 and positions the financial giant at the forefront of American corporate wage policy, reinforcing its long-standing reputation as a leader in minimum pay for hourly employees across the nation.

This latest adjustment brings Bank of America’s minimum wage up nearly 67% since 2017, when its base hourly rate was $15. Prior to this change, the bank’s minimum wage stood at $24 per hour—a rate set just last year—illustrating the company’s steady dedication to raising worker compensation. For full-time employees, this new wage translates into an annual salary exceeding $50,000, compared to less than $30,000 just eight years ago. The increase impacts thousands of employees nationwide, encompassing both full-time and part-time staff.

Sheri Bronstein, Bank of America’s chief people officer, emphasized the enhanced starting salary is designed as a launchpad for long-term, sustainable careers within the organization. CEO Brian Moynihan acknowledged in a Bloomberg TV interview on Thursday, though, that the bank continues to implement artificial intelligence (AI), and this has shrunk its number of employees in some departments.

“The key to that is really redeploying people and re-skilling them,” he said. “We have to be more mindful about training them along multiple dimensions than we might have been two or three years ago.”

Economic and social context of BofA’s pay increase

The timing of this announcement is particularly noteworthy given the current labor market. U.S. employment growth has slowed, with unemployment rates steadily rising and consumer spending facing headwinds. According to a recent Bank of America Institute survey, lower-income families have experienced diminishing growth in after-tax earnings, with August marking the slowest rate since 2016. By boosting wages, Bank of America aims not only to help its workforce weather these conditions, but also to stimulate economic growth and opportunity in the communities it serves.

The company’s commitment extends beyond compensation, with additional benefits such as tuition assistance, professional development programs, career mobility resources, and robust stock award programs. Since 2017, Bank of America has distributed nearly $5.8 billion in restricted common stock as incentive awards over and above regular pay, covering over 97% of its workforce.

In parallel with the wage increase, Bank of America is intensifying efforts to broaden its workforce. Over the next five years, the company plans to hire 10,000 individuals with military backgrounds and 8,000 community college graduates, targeting new financial centers in growth markets. This hiring surge accompanies its expanded compensation structure, both of which are intended to improve job opportunities and foster economic resilience in underserved communities.

Bank of America did not immediately respond to Fortune‘s request for comment.

For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing. 

Fortune Global Forum returns Oct. 26–27, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.

Palestinians Seeking Shelter Find Refuge in Garbage Dumps | Newsfeed

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NewsFeed

With nowhere else to go, Palestinians displaced from Gaza City are pitching tents on landfill sites where families say they are surrounded by garbage and disease.

Jack White’s Third Man Records signs international distribution agreement with Secretly

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Third Man Records, the Detroit-founded independent music company run by Jack White, has signed a global distribution agreement with Secretly Distribution.

Under the agreement, Secretly Distribution will handle physical and digital distribution, retail marketing, and technology infrastructure for all upcoming Third Man Records releases, the companies announced Thursday (September 18).

The first albums under the new arrangement will be records from Snõõper and The Belair Lip Bombs.

Founded by White in 2001, Third Man, now based in Nashville, has built offices, pressing facilities and retail locations in Detroit and London. The Nashville location houses a record store, label offices, distribution center, photo studio, and what the company calls “the world’s only live venue with direct-to-acetate recording capabilities.”

Detroit’s Cass Corridor facility includes a vinyl pressing plant that has operated for a decade, a record store and an in-store performance stage, while London’s The Blue Basement maintains retail and live venue operations.

“With their iconic roster and passionate team, we’re excited to amplify Third Man’s global reach across both physical retail and digital landscapes.”

Rich Thane, Secretly Distribution

The deal adds Third Man to Secretly Distribution’s expanding roster of label partners, which includes Sacred Captured Tracks, Run For Cover, Rhymesayers, Chrysalis, A24 Music, Merge Records, Joyful Noise, Father/Daughter, Big Crown, Colemine, Jazz Is Dead, Oh Boy Records and more. The distributor also works with its own affiliated labels including Dead Oceans, drink sum wtr, Ghostly International, Jagjaguwar, Secretly Canadian and the Numero Group.

Rich Thane, Associate Director of Artist & Label Strategy, Secretly Distribution, said: “We’re thrilled to welcome Third Man Records into the Secretly Distribution family of label partners.”

“As two fiercely independent, artist-first companies, our shared values and ethos make this partnership a perfect fit. With their iconic roster and passionate team, we’re excited to amplify Third Man’s global reach across both physical retail and digital landscapes.”

Ben Swank, Co-Founder, Third Man Records, added: “Third Man is very happy to be welcomed into the Secretly Distribution family. We have so much respect for their work; they lead creatively with artists’ and labels’ vision at the forefront.”

“Third Man is very happy to be welcomed into the Secretly Distribution family. We have so much respect for their work; they lead creatively with artists’ and labels’ vision at the forefront.”

Ben Swank, Third Man Records

“We’re excited about Third Man’s future working alongside the Secretly Distribution team, and proud to be included in their roster of legendary and heavyweight independent labels.”

The partnership with Third Man comes as Secretly Distribution recently announced a global deal with vinyl specialist Org Music, renewed deals with Asthmatic Kitty Records, and pursued a global deal with Geoff Barrow and Redg WeeksInvada Records. In September last year, Secretly and independent music company Beggars Group entered into a strategic partnership with Cargo Records in the UK to launch a distribution company called Cargo Independent Distribution.

Most recently in July, Secretly partnered with New York-headquartered EVEN, which specializes in enabling ‘superfans’ of artists to access exclusive benefits from their favorite act.

The deal between Secretly and Third Man follows a decade of vinyl sales growth, creating opportunities for labels with pressing capabilities like Third Man.

Sales of vinyl records grew for an 18th consecutive year in the US in 2024, generating $1.4 billion, which was up 7% YoY and marked the highest vinyl sales tally since 1984, according to the RIAA‘s 2024 year-end report.

However, in the first half of 2025, vinyl sales, which have been a rare bright spot for the industry over the past decade, fell 1% YoY in both units (22.1m sold in H1 2025 versus 22.3m in H1 last year), and in dollar value terms, to $456.9 million.

Total physical revenue declined 5.9% to $576.4 million in the United States in the first half of 2025.


US Customs and Border Protection recently confirmed that physical music formats like vinyl records, CDs and cassettes are exempt from new tariffs that took effect on August 29 because they are classified as “information materials” exempt from trade restrictions.

Music Business Worldwide

Bryn Greenwaldt, the Dual Sport All-American, Makes a Quick Impression at Virginia

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By James Sutherland on SwimSwam

The University of Virginia women’s team has been raising the bar in swimming over the past five years, developing numerous NCAA champions and rewriting the college record books. Given that excellence has become the norm in Charlottesville, it would take a lot for a newcomer to stand out and turn heads, but Bryn Greenwaldt has done just that.

Greenwaldt, who made headlines last season when she became an All-American in two sports with Augustana University, announced she was transferring to UVA this past April to pursue a Master’s of Accounting and use up her final year of eligibility.

Last season, Greenwaldt won the women’s 50 freestyle at the NCAA Division II Swimming & Diving Championships in record-setting fashion, and also placed 3rd in the 100 back and 8th in the 100 free while also earning a top-eight finish in high jump at the NCAA D2 Track & Field Championships during the same week.

Ever since her arrival at UVA in mid-August, Greenwaldt has been blowing away the coaches with not only her well-known sprinting ability, but also her versatility and work ethic.

“Having not seen Bryn train before she arrived in Charlottesville, we expected that she’d essentially be a drop-dead sprinter,” Cavalier senior associate head coach Tyler Fenwick told SwimSwam. “We didn’t anticipate her being able to handle a heavy workload. She’s shattered these expectations. Bryn has managed everything we’ve thrown at her in the first few weeks with a thorough and disciplined approach.

“It’s been fun to see her attack IM workouts and aerobic free sets while showing off excellent skills. Bryn isn’t just great at swimming on the surface but also underwater. She’s certainly impressed.”

Asked for an example of something notable Greenwaldt has done in practice thus far, Fenwick pointed to a “class relays” workout where she threw down a sub-22 50 free split–extremely impressive given the NCAA D2 record she set last year sits at 21.92.

“We split the team into three 4 x 50 freestyle relays (Pros, Upper Classmen, and newcomers),” Fenwick said. “Bryn anchored the newcomer relay, going in behind the others. She demonstrated some serious mental and physical competitiveness, closing hard and getting her hand on the wall in under 22 seconds. We’re only a few weeks into the season, and that was the first flash of her potential.

“It was a badass swim.”

Photo: Jamie Holt/Virginia Athletics

As a two-sport athlete, it’s not surprising that Greenwaldt has an unconventional approach to swimming training. She’s never trained year-round in the pool, and in high school, she only swam for three months a year. Even during her three seasons of college at Augustana, she only swam six months of the year (though that was extended a bit for the 2024 Olympic Trials).

“For me, a lot of my success in the sport comes from stepping back and making sure I am mentally and physically fresh going into the college season,” Greenwaldt said.

“That being said, I definitely don’t use the time away from the pool to slack off. I am one of the biggest advocates for cross-training, and I think that has been a huge part of my success.”

Given she was taking on a new challenge by heading to the best women’s swimming program in the country, Greenwaldt stayed in the water this past offseason, but still has not competed since NCAAs in March.

“This year, with the transition to UVA, I made sure to stay in the water during the spring and summer, but still kept it light at 2-3 days a week,” she said. “Outside of the pool, I was working out a minimum of twice a day for five days a week, with some extra workouts mixed in throughout and bonus Saturday sessions.

“I lifted five days a week and went to CrossFit three days a week, while also incorporating running, biking, high jump, and plyometric work throughout. This type of training might be viewed as unconventional, but it works for me to ensure that every season I come back stronger, more explosive, and excited to be in the pool again.”

The 21-year-old admitted that the training at UVA thus far has been a big step up from her previous experiences, but she’s relishing the opportunity to work alongside some of the country’s best and with an elite coaching staff.

“Training at UVA has been one of the most intense experiences of my career,” she said. “I’ve been extremely blessed with my past coaches and training environments, but being here has been on a whole other level entirely. Every practice demands your full focus, with almost every rep having some kind of kick/stroke count, underwater requirement, and speed change, along with consistent use of all four strokes,” she said.

“It’s been a very big adjustment, and it will only continue as the season progresses, but I am confident in the staff and team I have around me. They all push me, support me, and challenge me in ways that have already begun to make me better. It’s a whole new world here, but I am so excited to see what my final year of NCAA swimming holds.”

With the graduation of Gretchen and Alex Walsh, there will be plenty of opportunities for members of Virginia’s roster to work their way onto the ‘A’ relays this season, and Fenwick “absolutely” believes Greenwaldt could very well factor into that mix.

“This is probably the deepest team we’ve had at Virginia,” he said. “One through 28 on our roster will be highly competitive. Bryn certainly has the ability and drive to be a major player in February and March. She’s been awesome, and we’re excited to watch her development and impact this season!”

As for her future in track and field, Greenwaldt hasn’t completely closed that door, though she acknowledges that when she decided to come and swim at Virginia, it probably meant high jump was going on the back burner.

“Honestly, I am still trying to determine what the rest of my track career looks like,” she said. “I’ve been in contact with the UVA track coaches, and I am very hopeful that I am able to continue pursuing that part of my life, although it would look very different from what it did at Augustana.

“That being said, I feel like God called me to search for something new, and when you get that call, you don’t say no. I knew coming to a school as dominant as Virginia might mean having to take a step back from track, but I couldn’t pass up the opportunity to train with the best swim team and coaching staff in the country. There is so much here that I am so excited to experience, and I am still holding out hope that track might be a part of that journey.”

Read the full story on SwimSwam: Dual Sport All-American Bryn Greenwaldt Wastes No Time Impressing At Virginia

The Secret Villages and Wild Landscapes of Spain

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Spain has long been associated with sun-drenched beaches, vibrant cities, and world-famous cuisine. While Barcelona, Madrid, and Ibiza are famous for a reason, the true soul of Spain is often found in its remote corners. One of the areas I love the best is Northern Spain, with its green mountains, rugged coastline, and medieval villages, offers an entirely different perspective. It doesn’t get as many visitors as the hotspots in the south but it is just as beautiful in my opinion.

If you want to see a quieter side of Spain, consider stepping off the usual tourist trail and heading north after your flight to Madrid. Spend a few days in Madrid (which is amazing) and then train it north for a week or more to wander along paths the Romans once carved into mountains, explore deserts few travelers know, and hike to villages where traditions persist centuries after empires have fallen.

Today, I want to share three destinations that I love: Las Médulas, the Bardenas Reales, and Santillana del Mar. Each offers a unique blend of history, natural beauty, and cultural immersion, and each is accessible enough from Madrid.

 

1. Las Médulas

Nearly two millennia ago, Roman engineers transformed this landscape in search of gold. Using a technique called ruina montium (“wrecking of mountains”), they channeled water through tunnels to collapse entire hillsides, revealing the region’s gold deposits. The result is a surreal landscape of jagged red cliffs, hollows, and gullies, softened by forests of chestnut trees and dotted with walking trails. Today, Las Médulas is a UNESCO World Heritage Site and a testament to human ingenuity and the enduring power of nature. Hiking through the gullies and Roman galleries, it’s easy to imagine the labor and vision required to reshape this rugged terrain.

What I love about Las Médulas is the quiet. Even in high season, you can find stretches of trail where the only sounds are your footsteps and the rustle of leaves. The views from the ridges are spectacular, and the scent of chestnuts lingers in the air. It is a place that makes you slow down, not just to take photos but to let the history and the stillness sink in.

Highlights and Trails

  • Senda de las Valiñas (4km loop): This gentle trail winds through shady chestnut groves and past openings to Roman tunnels. It is perfect for an easy morning walk that still gives you a sense of the site’s scope. Stop often to look up at the cliffs; the red soil against the greenery makes for striking photos.
  • Mirador de Orellán: A short but steep climb leads to a platform overlooking the scarlet ridges and valleys. Sunset is my favorite time here when the fading light turns the cliffs almost orange. There is also a small gallery where you can see how the Romans dug into the rock.
  • Galería de Orellán: If you enjoy a bit of adventure, explore this restored mining tunnel. Standing inside, you can imagine workers hauling out earth by torchlight.
  • Senda Perimetral (14km loop): For committed hikers, this path circles the whole archaeological area. You will pass secluded forests, small farms, and the occasional wild boar track. It is long but not difficult, and you will often have it to yourself.
  • Castro de Chano: A short drive away, this pre-Roman hillfort shows that the story of Las Médulas stretches back much further than the Romans.
  • Mirador de Reirigo: A lesser-known lookout with a quiet bench and sweeping views across chestnut forests and distant hills.

Practical Details
Where to Stay: Ponferrada is only half an hour away and has a wide range of hotels and guesthouses.

Best Season: Autumn for golden foliage and crisp air. Spring brings mild weather and blooming wildflowers.

Tip: Bring water and a snack, especially if you plan to attempt the longer hikes. Maps or a GPS app will help you stick to the marked trails.
 

2. Bardenas Reales

Heading south from Pamplona, the landscape changes dramatically. Rolling farmland gives way to dry plains and eventually a semi-desert of ochre mesas and dramatic ravines. This is the Bardenas Reales, a 42,000-hectare natural park in Navarre. This place is a UNESCO Biosphere Reserve and an area of active military use, yet shepherds still graze their flocks across the plains, and wildlife such as griffon vultures and foxes thrive. The park’s isolation means you will often have most of the trails to yourself.

The first time I visited, I was surprised at how varied the scenery was. From a distance, it looks barren, but once inside, you notice details: rippling patterns in the clay, hardy flowers clinging to cracks, the occasional sheepdog trotting behind a herd. The sense of space is exhilarating. It is a destination that invites wandering and rewards those who take their time.

Sights and Routes

  • Castildetierra: This slender rock pinnacle is the park’s symbol. Photographers love it at dawn when soft light highlights its delicate shape. Even if you are not chasing the perfect shot, it is worth lingering to watch shadows shift across the flats.
  • La Blanca Baja Loop (34km): A drive or bike ride along this track gives you a full tour of the park’s central zone. Stop at overlooks to admire canyons, mesas, and wide basins where storms sometimes leave shallow pools.
  • Piskerra and El Rallón Hike: This moderate route climbs into the heart of the badlands. Expect rugged paths and thrilling views from the top ridges. Bring plenty of water, as there is no shade once you leave the lowlands.
  • Balcón de Pilatos: A high vantage point where griffon vultures wheel on warm air currents. Watching them soar over the ravines is an unforgettable experience.
  • Cabezo de las Cortinillas: A quieter formation reached by a short track. The colors of the rocks shift from pale cream to copper depending on the sun.
  • Río Aragón Corridor: Follow the green strip along the river for a softer side of the park. It is good for birdwatching and a break from the dry heat.

Practical Details
Where to Stay: Tudela is the nearest town, with comfortable lodgings and excellent local restaurants serving Navarra specialties.

Best Season: Visit in spring or early autumn for pleasant temperatures. Wildflowers appear after rain, adding touches of color to the plain. Summer can be extremely hot.

Tip: There are no services inside the park, so stock up on water, sunscreen, and snacks beforehand.
 

3. Santillana del Mar

Santillana del Mar is one of my favorite spots in northern Spain. It is located in Cantabria, roughly 30 minutes inland from the coast. Its cobbled streets, well-preserved medieval architecture, and charming plazas make it one of the most picturesque villages in the region. The town also serves as a gateway to one of the most important prehistoric sites in Europe, the Altamira Cave, famous for its Paleolithic paintings. Wandering its narrow streets is like stepping back in time, and staying overnight allows visitors to enjoy the tranquility once the day-trippers depart.

What makes Santillana special is how alive it feels. Despite its ancient walls, there is nothing dusty about it. Small bakeries sell buttery sobaos, shopkeepers greet you as you pass, and horses sometimes clop through the lanes. The rhythm is unhurried and warm.

Things to See and Do

  • Collegiate Church of Santa Juliana: A Romanesque gem with serene cloisters and intricate capitals. Take your time exploring the arches and stone carvings.
  • Altamira Cave Replica: The original cave is closed to preserve the art, but the replica is impressive. Standing beneath the ceiling of bison and horses gives you a glimpse of human creativity from 14,000 years ago.
  • Museo de Altamira: A museum next to the cave that expands on the region’s prehistoric culture. The exhibits are engaging and family-friendly.
  • Plaza Mayor: The central square is framed by stone houses with wooden balconies. It is a perfect spot for coffee or a late-afternoon glass of cider.
  • Nearby Trails: From the village, you can wander into the surrounding hills where meadows meet oak woods. Some paths continue toward the coast, giving sweeping views of the Cantabrian Sea.
  • Cuevas de El Soplao: A short drive away, this cavern is filled with spectacular stalactites, stalagmites, and unusual formations called helictites.
  • Comillas: A neighboring town with Modernist architecture, including Gaudí’s Capricho, only 20 minutes by car.

Practical Details
Getting There: Buses run from Santander or Bilbao in about 45 minutes. Renting a car gives freedom to explore nearby coves and valleys.

Best Season: Spring and autumn bring mild temperatures and fewer crowds.

***

Spain’s headline attractions deserve attention, yet its lesser-known landscapes and towns reveal something richer. They remind us that beyond Spain’s beaches and bustling cities lies a country where history, geography, and everyday life converge into experiences worth lingering over. Whether you are tracing Roman tunnels in Las Médulas, riding a bike across the dusty tracks of the Bardenas, or sipping cider in a Cantabrian plaza, each moment adds a new layer to your understanding of Spain.

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Book Your Trip to Spain: Logistical Tips and Tricks

Book Your Flight
Use Skyscanner to find a cheap flight. They are my favorite search engine because they search websites and airlines around the globe so you always know no stone is left unturned.

Book Your Accommodation
You can book your hostel with Hostelworld as they have the biggest inventory and best deals. If you want to stay somewhere other than a hostel, use Booking.com as they consistently return the cheapest rates for guesthouses and cheap hotels.

Don’t Forget Travel Insurance
Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are:

Looking for the Best Companies to Save Money With?
Check out my resource page for the best companies to use when you travel. I list all the ones I use to save money when I’m on the road. They will save you money when you travel too.

Want More Information on Spain?
Be sure to visit my robust destination guide on Spain for even more planning tips!

Efficient Car Trunk Organization with Modular Magnetic System

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If there’s one thing that outdoorsy types like, it’s the ability to tote lots of stuff around in the back of their vehicle, while keeping that gear organized at the same time. Well, Subcube is a new magnetic modular system which allows anyone to do so.

Currently the subject of a Kickstarter campaign, Subcube is made by a Hong Kong startup of the same name.

The setup consists of seven different sizes of drawer-type cargo boxes, which connect to one another both vertically and horizontally via neodymium magnets in their sides, tops and bottoms. Each one features a zippered front door, rigid ABS inner walls, cotton interior cushioning panels, and a ballistic nylon outer shell.

Different drawers are designed for different purposes

Subcube

On the bottom of each unit are four textured rubber pads, which help keep it from slipping around if it ends up sitting directly on the floor of the vehicle. Optional support straps also help in this regard, as they can be run from the back of the top boxes to the headrest rails for the vehicle’s rear seats.

Backers can choose from a number of included hook-and-loop labels with symbols on them (such as sports equipment), which can be affixed to the front of the boxes to show what’s inside of them. And as an added bonus, when one of the boxes is pulled loose from the others, it can then be carried like a tote bag via either an included handle or shoulder strap.

The boxes can be carried individually via handles or shoulder straps
The boxes can be carried individually via handles or shoulder straps

Subcube

And finally, if the Subcube system is only utilized on special occasions (such as camping trips), the boxes can be folded flat for storage between uses.

Kickstarter pledges run from US$99 (retail $276) for a package that includes four boxes all of one size, up to $299 (retail $682) for a package including eight boxes representing all seven sizes.

The World’s First Magnetic Modular System

Sources: Kickstarter, Subcube

Note: New Atlas may earn commission from purchases made via links.

France sees widespread worker strikes in response to proposed budget cuts

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Hundreds of thousands of workers are expected to take part in strike action across France on Thursday, after trade unions called for a day of protests against budget cuts.

The interior ministry said between 600,000 and 900,000 people could attend demonstrations nationwide, adding it would deploy 80,000 police officers.

Scuffles were reported in the cities of Lyon and Nantes, where police used teargas to try to disperse protesters.

The strikes come barely a week after Sébastien Lecornu, a close ally of President Emmanuel Macron, was appointed prime minister following the toppling of François Bayrou’s government.

Public transport was heavily disrupted on Thursday morning, with many metro lines in Paris reported shut, while protesters blocked roads and streets in major cities across France.

Students gathered in front of schools and universities in the capital and beyond, blocking entrances and chanting slogans. Around a third of teachers walked out.

Pharmacists are also adhering to strike action in droves, with 98% of pharmacies expected to stay closed.

Unions have called for more spending on public services, higher taxes on the wealthy and for the budget cuts outlined by the short-lived Bayrou government to be axed.

Sophie Binet, the leader of one of France’s major trade union groups, the General Confederation of Labour (CGT), said: “We need to be out in force, that’s how we gather strength to keep fighting… to force the government and the employers to put an end to policies that only serve the richest.”

Bruno Retailleau, the outgoing interior minister, said 58 people had been arrested across France by mid-morning.

“We will be uncompromising and relentless,” Retailleau warned, adding that he had given police instructions to make arrests “as soon as there is the slightest slip-up”.

Jean-Luc Mélenchon, the leader of the radical left party France Unbowed (LFI), asked participants to the strike to be “disciplined”.

“Any violent actions would only serve one person – Mr Retailleau,” he said.

Ahead of the protests, Laurent Nunez, the Paris prosecutor, had expressed concerns that the demonstrations would be “derailed” by far-left groups and urged shops in the city centre to close for the day.

Thursday’s strikes come after around 200,000 people took part in protests organised by the grassroots Bloquons Tout (Let’s Block Everything) movement last week, which caused some disruption across France.

Bayrou’s unpopular budget proposal – aimed at bringing down France’s high public debt with €44bn (£38bn) worth of cuts – caused him to lose a confidence vote in the National Assembly last week when parties across the political spectrum united to topple him.

New Prime Minister Sébastien Lecornu, who is yet to assemble a ministerial team, has not entirely renounced the cuts and has held talks with opposition parties in an attempt to reach a compromise on the budget.

Lecornu’s position is perilous. Like his two predecessors, Bayrou and Michel Barnier, he faces a hung parliament divided into three blocs with deeply differing political leanings, making it difficult to craft a budget palatable to a majority of MPs.

But France is also staring down the barrel of spiralling public debt, equivalent to almost €50,000 per French citizen.

Barnier and Bayrou were also brought down as a result of their proposed budgets, which would have entailed substantial cuts – with politicians on the left instead calling for tax rises.

Challenging the Client

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The Potential of Laser Weapons in Combatting War Drones

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new video loaded: How Laser Weapons Could Take On War Drones

By Lara Jakes, Nikolay Nikolov and David Jouppi

Russia’s use of drone swarms in the Ukraine war has other countries worried about their own air defenses. Lara Jakes, a foreign correspondent for The New York Times, explains how some are looking at laser weapons technology to counter the drone threat.

Banco Santander Achieves 25% of Share Buyback Program Goal

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Banco Santander reaches 25% of share buyback program target