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By David Shepardson and Akash Sriram WASHINGTON (Reuters) -The National Highway Traffic Safety Administration said on Monday it has opened a preliminary investigation into about 2,000 Waymo self-driving vehicles after reports that the company's robotaxis may have failed to follow traffic safety laws around a stopped school bus. The probe of the Alphabet unit is the latest scrutiny of self-driving systems by regulators reviewing how driverless technologies interact with pedestrians, cyclists and other road users. NHTSA opened the investigation after a recent media report aired video of an incident in Georgia in which a Waymo did not remain stationary when approaching a school bus with its red lights flashing and stop arm deployed. The report said the Waymo vehicle initially stopped then maneuvered around the bus, passing the extended stop arm while students were disembarking. Waymo's automated driving system surpassed 100 million miles of driving in July and is logging 2 million miles per week, the agency said. "Based on NHTSA’s engagement with Waymo on this incident and the accumulation of operational miles, the likelihood of other prior similar incidents is high," the agency said. A Waymo spokesperson said the company has “already developed and implemented improvements related to stopping for school buses and will land additional software updates in our next software release.” The company added "driving safely around children has always been one of Waymo's highest priorities." The company said Waymo "approached the school bus from an angle where the flashing lights and stop sign were not visible and drove slowly around the front of the bus before driving past it, keeping a safe distance from children." NHTSA said the vehicle involved was equipped with Waymo's fifth-generation Automated Driving System and was operating without a human safety driver at the time of the incident. Waymo has said its robotaxi fleet numbers more than 1,500 vehicles operating across major U.S. cities, including Phoenix, Los Angeles, San Francisco and Austin. In July, NHTSA closed a 14-month investigation into a series of minor collisions "with clearly visible objects that a competent driver would be expected to avoid" and "unexpected behavior" from Waymo self-driving vehicles, after 22 reports about its robotaxis driving in ways that potentially violated traffic safety laws. The probe ended after two recalls. (Reporting by Akash Sriram in Bengaluru and David Shepardson in Washington; Editing by Tasim Zahid)

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By Jamie McGeever ORLANDO, Florida (Reuters) -Wall Street and most global equity benchmarks rose sharply on Monday, as optimism around U.S. earnings and easing global trade tensions offset some of last week's worries over frothy asset prices, private credit markets and U.S. regional banks. More on that below. In my column today, I look at the so-called U.S. 'debasement trade'. While debt and deficit worries are real and justified, the bond and currency markets suggest they are overdone.      If you have more time to read, here are a few articles I recommend to help you make sense of what happened in markets today. Today's Key Market Moves Today's Talking Points: * U.S. banking system liquidity Debate is intensifying around whether liquidity in the U.S. banking system is shrinking to the point that could soon pose funding, collateral and broader market risks. The Fed could soon end its QT program, bank reserves are below $3 trillion, balances at the Fed's overnight repo facility are almost zero, and usage of the Fed's Standing Repo Facility has ticked up. Some observers say alarm bells are ringing, and point to the recent wobbles in private credit and regional banks as evidence. Others are less worried, noting that while aggregate liquidity may be tightening, it is still plentiful and the Fed has several tools at its disposal should it need them. In short, there's no cause for concern. * Reading China's GDP tea leaves China's headline Q3 GDP figures showed stronger-than-expected quarterly growth of 1.1% and annual growth of 4.8%, which was slower than Q2 but in line with forecasts. On the face of it, China seems to be managing to shrug off the trade tension and tariff uncertainty. But under the surface, there is perhaps more cause for concern. House prices continue to fall, and more importantly, fixed asset investment fell for the first time ever, excluding the pandemic. An "alarming" development that points to downside risks for Q4 GDP, reckons Zhiwei Zhang at Pinpoint Asset Management. * The importance of rare earths Official Chinese data also showed that exports of rare earth magnets fell in September, reigniting fears that the world's top supplier could wield its dominance over a component that is critical for U.S. defense firms and makers of items from cars to smartphones. And increasingly central to U.S.-China trade relations. U.S. President Donald Trump said he expects to secure a "fair" trade deal with China and plans to meet President Xi Jinping in South Korea next week. Trump and Australian Prime Minister Anthony Albanese signed a rare earths deal on Monday, and Trump said he is working on deals with other countries. Debasing the 'debasement' trade The recent surge in gold, cryptocurrencies and stocks to record highs has sparked claims that the U.S. "debasement trade" is in full swing, but the bond and the foreign exchange markets tell a very different story.     The upward swing in some "hard" assets this year is undeniable. The 50% spike in gold and even more eye-watering gains in other precious metals, such as silver and platinum suggest investors are getting anxious about something.     Many have argued that this "something" is debasement – the fear that an oncoming inflationary storm could erode the dollar's purchasing power and the value of U.S. financial assets.     The term "debasement trade" was coined earlier this year by analysts at JPMorgan, though they began flagging the idea last October, arguing that a Republican sweep of the White House and both houses of Congress would be bullish for gold and bitcoin due to expansionary fiscal policy.      Fast forward to today, and debasement doomsayers are pointing to increased U.S. government borrowing and rising public debt projections as well as the resumption of Federal Reserve interest rate cuts at a time when inflation is about to enter its sixth consecutive year above the Fed's 2% target.     But if we were primarily dealing with debasement fears, the dollar and U.S. bonds would be tumbling and Treasury yields would be spiking – and this isn't happening.  WHAT DEBASEMENT?     The numbers speak for themselves. The 10-year nominal Treasury yield last week broke below 4.00%, its lowest since April. In fact, Friday's 3.93% was the lowest in over a year if excluding April 4 and 7, the depths of post-"Liberation Day" tariff turmoil.     The benchmark 10-year yield is down nearly 60 basis points this year. Even the 30-year yield, which is much more sensitive to the de-anchoring of long-term inflation expectations, has fallen around 20 basis points this year, hardly a sign investors are running for the hills.      It's a similar story in "TIPS". The break-even inflation rate on 10-year TIPS, essentially an estimate of where bond investors see inflation a decade from now, last week fell to 2.275%, the lowest since June. More significantly, the 30-year TIPS break-even inflation rate fell to 2.21%, the lowest since May.     True, the dollar had its worst start to a year on record in the first half of 2025, but it has been remarkably stable since April, with the dollar index ending last week almost exactly at its six-month average. Moreover, the dollar has significantly outperformed its G10 currency peers over the past month, as Rabobank's Jane Foley points out.      "Debasement would imply a move away from the dollar and U.S. Treasuries into assets such as gold, and there is very little evidence to back up these flows," Foley says.     To be sure, the dollar is being viewed more skeptically by investors than it was before U.S. President Donald Trump returned to the White House, likely because the world sees the United States as a less reliable economic partner. This is reflected in the fact that as much as 80% of portfolio inflows into the U.S. are now currency hedged, according to UniCredit estimates.     All this suggests that investors still want to hitch their wagon to the U.S. economy and stock market, but not the dollar.      DESPERATELY SEEKING CLARITY     Fears of fiat currency debasement are nothing new, especially those involving the dollar. But they have gained traction since the huge monetary and fiscal responses to the 2007-2009 global financial crisis and the pandemic of 2020-2021. And Trump's unorthodox policy agenda has only added fuel to the fire.     But given how markets are actually behaving, what we may truly be seeing is a mix of central bank diversification, private sector portfolio reallocations, or simply momentum-driven buying.      Ultimately then, we may be reaching peak "debasement trade". Like other popular terms this year, such as the infamous "TACO" (Trump Always Chickens Out) trade – the "debasement trade" is essentially a simple narrative that can help investors make sense of an increasingly logic-defying world.      Even though the $4 trillion global crypto market and $28 trillion gold market may be emitting dollar debasement warnings, the $28 trillion Treasury market and nearly $10 trillion-a-day currency market are not. If you want a simple answer to what's happening in today's financial world, keep looking. What could move markets tomorrow? Want to receive Trading Day in your inbox every weekday morning? Sign up for my newsletter here.  Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. (By Jamie McGeever;)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -General Dynamics said on Monday that its Europe unit has secured a contract for about 3 billion euros ($3.50 billion) to deliver next-generation reconnaissance vehicle for the German Army Reconnaissance Corps. The contract was commissioned to General Dynamics European Land Systems by the Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support (BAAINBw). The company said the scout vehicle system features state-of-the-art, networked reconnaissance sensor technology, superior mobility, and assertiveness. The news comes after Reuters reported, citing finance ministry documents, that the German government would order armoured vehicles for almost 7 billion euros. Earlier this month, the company secured a $1.25 billion IT contract to support the U.S. Army in Europe and Africa. In September, it secured a $1.5 billion contract from the U.S. Strategic Command, or STRATCOM. ($1 = 0.8575 euros) (Reporting by Anshuman Tripathy in Bengaluru; Editing by Maju Samuel)

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By Deborah Mary Sophia and Shubham Kalia (Reuters) -Amazon's cloud services unit AWS was struggling to recover on Monday from a widespread outage that knocked out thousands of websites along with some of the world's most popular apps – Snapchat and Reddit – and disrupted businesses globally. The turmoil marked the largest internet disruption since last year's CrowdStrike malfunction hobbled technology systems in hospitals, banks and airports, and highlights the vulnerability of the world's interconnected technologies. After more than nine hours of disruptions, some applications were gradually coming back online as of 1:00 p.m. ET (1700 GMT). But AWS acknowledged that elevated errors were still affecting several AWS services and that it was working on recovering connectivity. AWS was down for more than 9,300 users as of 1:00 p.m. ET, according to outage tracking website Downdetector. That figure is higher than the earlier peak of about 5,800 reports at 3:48 a.m. ET. Lambda, one of AWS's computing services, was experiencing errors due to issues with an internal subsystem, AWS said in an update on its status page. "We are taking steps to recover this internal Lambda system," it said. AWS said earlier the root cause of the outage is an underlying subsystem that monitors the health of its network load balancers used to distribute traffic across several servers to ensure improved performance and capacity. The issue, AWS said, originated from within the "EC2 internal network." EC2 refers to Amazon's "Elastic Compute Cloud" service, which provides on-demand cloud capacity within AWS. Businesses use EC2 to run virtual servers that they need to develop, launch and host applications, and can scale up or down on capacity as required. Steps to resolve EC2 system-related issues resulted in some early signs of recovery across a few data centers, AWS said in an update on its status page. It is taking similar measures at the remaining locations and expects the problems to subside, AWS added, without providing a specific timeline. While some apps like Reddit and Roblox had largely stabilized, according to outage tracking website Downdetector, others, including Snapchat, PayPal's Venmo and Duolingo, were showing a resurgence in issues seen earlier in the day. ISSUE ORIGINATED FROM AWS SITE KNOWN FOR PREVIOUS OUTAGES AWS provides computing power, data storage and other digital services to companies, governments and individuals and is the world's largest cloud provider, followed by Microsoft's Azure and Alphabet's Google Cloud. Disruptions to its servers can cause outages across websites and platforms – ranging from food delivery apps to gaming platforms and airline systems – that rely on its cloud infrastructure. AWS said on its status page that Monday's outage originated at its US-EAST-1 location in northern Virginia, its oldest and largest for web services. The site suffered outages in 2021 and 2020. According to documentation on the AWS website, the US-EAST-1 site is often the default region for many AWS services.  Asked for comment, AWS directed Reuters to its status page. Amazon did not respond to a request for comment. "FRAGILE INFRASTRUCTURES" The problem highlights how interconnected everyday digital services have become and their reliance on a small number of global cloud providers, with one glitch wreaking havoc on business and day-to-day life, experts and academics said. "This outage once again highlights the dependency we have on relatively fragile infrastructures," said Jake Moore, global cybersecurity advisor at European cybersecurity firm ESET. In Britain, Lloyd Bank, Bank of Scotland and telecom service providers Vodafone and BT were all hit, according to Downdetector's UK website, as was UK tax, payments and customs authority HMRC's website. "The main reason for this issue is that all these big companies have relied on just one service," said Nishanth Sastry, director of research at the University of Surrey's Department of Computer Science. Ookla, which owns Downdetector, said over 4 million users reported issues due to the incident. "For major businesses, hours of cloud downtime translate to millions in lost productivity and revenue," said Ryan Griffin, U.S. cyber practice leader at insurance broker McGill and Partners.  FROM SNAPCHAT TO VENMO: OUTAGE TAKES DOWN APPS Ookla said at least a thousand companies were affected by the outage. Snapchat last had over 7,500 reports on Downdetector, lower than the peak of more than 22,000 but still higher than the 4,000 outage instances at around 7:00 a.m. ET. Artificial intelligence startup Perplexity, cryptocurrency exchange Coinbase and trading app Robinhood all experienced platform disruptions and attributed them to AWS. Amazon's own services, including its shopping website, Prime Video and Alexa, were also hit, although Downdetector last showed a decrease in severity. Fortnite, owned by Epic Games; Clash Royale and Clash of Clans were among the gaming platforms affected. Uber rival Lyft was also knocked down in the United States. In a post on X, Signal President Meredith Whittaker confirmed the messaging app was hit by the outage as well, though billionaire Elon Musk, who owns X, said his platform continued to work. While there has been no indication of a potential cyberattack behind Monday's outage, the scale of the disruption has fed speculation. "When anything like this happens, the concern that it's a cyber incident is understandable," said Rafe Pilling, director of threat intelligence at cybersecurity firm Sophos. "AWS has a far-reaching and intricate footprint, so any issue can cause a major upset." (Reporting by Shubham Kalia, Devika Nair, Ananya Palyekar and Deborah Sophia in Bengaluru; Additional reporting by James Pearson, Jaspreet Singh and Arsheeya Bajwa; Editing by Saumyadeb Chakrabarty, Joe Bavier and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)