AFP

The Nobel winners who helped prove quantum 'spooky action'

Physicists Alain Aspect, John Clauser and Anton Zeilinger developed experimental tools that helped prove quantum entanglement — a phenomenon Albert Einstein famously dismissed as “spooky action at a distance” — is real, paving the way for its use in powerful computers.

Here are mini biographies of the three scientists. 

– John Clauser –

Born in 1942, John Francis Clauser’s earliest memories were of gaping in wonder at the equipment in the lab of his father, who created the aeronautics department for Johns Hopkins, he told the American Institute of Physics in a 2002 oral history. 

An electronics buff who built some of the first computer-driven video games at high school, Clauser opted for physics at college.

In the mid-1960s, he grew interested in the ideas of quantum mechanics pioneer John Bell, who strove to better understand entanglement — when two particles behave as one and can affect each other, even at vast distances.

“I thought this is one of the most amazing papers I’ve ever read in my own life, and I kept wondering, gee, where’s the experimental evidence?”  Clauser told PBS in 2018.

Clauser believed he could test Bell’s ideas in a laboratory, but was met with widespread scorn by leading physicists of the time.

He proposed the test independently of his thesis work on radio astronomy, and carried it out with collaborators in 1972 while at UC Berkeley. 

By shining lasers at calcium atoms to emit entangled photons and measuring their properties, he was able to prove with hard data that what had defied the imagination even of the great Einstein — was true.

– Alain Aspect –

Like Clauser, Frenchman Alain Aspect was seduced by the “limpid clarity” of Bell’s theorem.

“Quantum strangeness has dominated my whole life as a physicist,” he told AFP in a 2010 interview.

As a doctoral student, Aspect built on the work of Clauser, refining the experiment to eliminate possible loopholes in its design — publishing his work in 1982.

The son of a teacher, Aspect was born in 1947 in a village in Gascony, and is currently a professor at Institut d’Optique Graduate School (Augustin Fresnel chair), in University Paris-Saclay, and at Ecole Polytechnique.

But his interest in the quantum realm stemmed from a period in his life spent away from academia — he had gone to Cameroon to complete three years of voluntary service as a teacher.

During his free time, he came across a book written by Claude Cohen-Tannoudji on the subject (Cohen-Tannoudji won the Nobel in 1997), which in turn led him to Bell.

In a phone interview with the Nobel Foundation on Tuesday, Aspect emphasized the international makeup of his co-winners — an American and an Austrian — was an important signal in the face of rising nationalism around the world.

“It’s important that scientists keep their international community at a time when… nationalism is taking over in many countries,” he said.

– Anton Zeilinger – 

Nicknamed the “quantum pope”, the physicist Anton Zeilinger, born in 1945 in Ried im Innkreis in Austria, became one of the most famous scientists in his country by succeeding for the first time in 1997 in quantum teleportation of light particles.

A success quickly compared to the “teleportation” of the television series “Star Trek.”

Using the properties of quantum entanglement for cryptography, Professor Zeilinger encrypted the first banking transaction by this means in Vienna in 2004.

In 2007, his team created entangled pairs of photons and fired one of each pair over 144 kilometers (89 miles) between the Canary Islands La Palma and Tenerife, to generate a quantum cryptographic key.

His fame comes in part from his tireless didactic talents: always keen to popularize his knowledge to the general public, he even initiated the Dalai Lama in 2012 with infectious enthusiasm.

Attached to the University of Vienna, Zeilinger corresponds in all respects to the image of the scientist: gray hair, a full beard, and small round glasses.

He had already received countless awards and did not really believe that he would one day win the Nobel. “There are so many other candidates,” he said a few years ago to the Austria Press Agency

Loretta Lynn, country music luminary and songwriting pioneer, dies at 90

Loretta Lynn, America’s groundbreaking country titan whose frank lyricism delving into women’s experiences with sex, infidelity and pregnancy touched the nerve of a nation, has died. She was 90 years old.

She “passed peacefully in her sleep” at her ranch in Tennessee Tuesday morning, her family said in a statement sent to AFP.

Lynn saw a number of her edgy tracks banned by country music stations, but over the course of more than six decades in the business, she became a standard-bearer of the genre and its most decorated female artist ever.

Born Loretta Webb on April 14, 1932 in small-town Kentucky, Lynn was the eldest daughter in an impoverished family of eight kids, a childhood she immortalized in her iconic track “Coal Miner’s Daughter” — a staple on lists of all-time best songs.

“Well, I was borned a coal miner’s daughter / In a cabin, on a hill in Butcher Holler,” Lynn sang in the hit recorded in 1970 — later the theme song for a 1980 movie about her life starring Sissy Spacek, who won an Oscar for the role. 

“We were poor but we had love / That’s the one thing that daddy made sure of. He shoveled coal to make a poor man’s dollar.”

At just 15 years old, the artist married Oliver Vanetta Lynn, who she remained married to for nearly 50 years until his death in 1996.

They moved to a logging community in Washington state, and Lynn gave birth to four children before the age of 20, adding twins to the family not long after.

An admirer of his wife’s voice, her husband bought Lynn a guitar in the early 1950s.

It would be a fateful gift.

The self-taught musician penned lyrics inspired by her own early experiences as a married woman and her oft-tumultuous relationship, the nascent days of a prolific career that would see the artist release dozens of albums.

She started her own band, Loretta and the Trailblazers, and began playing bar sets before cutting her first record — “I’m a Honky Tonk Girl” in 1960.

Her twang was warm and languid but Lynn’s lyrics were anything but: She sang with searing precision of marriage’s growing pains and gave voice to issues facing women that had long been kept quiet.

“Most songwriters tended to write about falling in love, breaking up and being alone, things like that,” Lynn told The Wall Street Journal in 2016. “The female view I wrote about was new.”

“I just wrote about what I knew, and what I knew usually involved something that somebody did to me.”

– ‘The Pill’ –

The Lynns began touring nationwide to promote the singer’s work to radio stations, and she made her debut at the storied Grand Ole Opry in 1960, going on to become one of the Nashville institution’s most acclaimed acts.

During her early years in the industry, she found a friend and mentor in Patsy Cline, one of the 20th century’s most influential singers who died in a plane crash in 1963 at age 30.

She also formed a longstanding creative partnership with Conway Twitty, with the pair becoming one of country’s classic duet acts. 

Lynn released hit single after hit single, including 1966’s “Dear Uncle Sam” — one of the era’s first tracks to document the tragedy of the Vietnam War.

Also in 1966, she put out “You Ain’t Woman Enough (To Take My Man),” which went straight to the top of the charts and made her the first woman in country to pen a number one hit.

In 1969, she released one of her most controversial songs, “Wings Upon Your Horns,” which describes through religious metaphor a teenager losing her virginity.

But her runaway success continued and she dominated the 1970s with hits such as “Fist City” — a stern warning to her cheating husband’s lover — and 1972’s “Rated X,” which triggered an outcry in discussing the stigmas faced by divorced women.

In 1975, she released “The Pill,” which praised the freedoms of birth control. 

“This incubator is overused / Because you’ve kept it filled / The feelin’ good comes easy now / Since I’ve got the pill,” Lynn sang.

“When I’d put out a record, they’d say, ‘Uh oh, another dirty song.’ ‘Rated X’? They thought that was going to be bad. But hey, it sold. ‘One’s on the Way’? They thought that song would really be dirty,” she told Billboard in 2015. 

“But everything I sang about was everyday living.”

– ‘The truth’ –

In 1988, Lynn was inducted into the Country Music Hall of Fame as one of its most storied legends.

She won virtually every arts honor available, including the prestigious Presidential Medal of Freedom, the nation’s highest civilian award, given to her by Barack Obama in 2013.

Despite the progressive airs of her music, Lynn would insist that her clearly political music had “no politics.” She leaned Republican most of her life, frequently performing for and supporting right-wing candidates — including Donald Trump in 2016 — even as she also voiced support for Democrats like Jimmy Carter.

But she was universally beloved in the industry she deeply influenced, collaborating with scores of artists including Dolly Parton, Willie Nelson and Elvis Costello. In 2004 she released the album “Van Lear Rose,” produced by Jack White.

In 2021, a month before turning 89, she released the album “Still Woman Enough,” which featured re-recordings and new material.

“As long as I’m on this earth, I will try to be on top — somewhere,” she once told Billboard, explaining that she’d never retire from music.

“When they lay me down six feet under, they can say, ‘Loretta’s quit singing.’ I’ll have on one of my gowns,” she continued.

“That’s morbid, but it’s the truth.”

Quantum entanglement: the 'spooky' science behind physics Nobel

This year’s physics Nobel prize was awarded Tuesday to three men for their work on a phenomenon called quantum entanglement, which is so bizarre and unlikely that Albert Einstein was sceptical, famously calling it “spooky”.

So how exactly does it work?

Even people with degrees in physics struggle to understand it — and some who do still find parts “hard to swallow,” said Chris Phillips, a physicist at Imperial College London.

To explain the phenomenon he used the example of a photon — “a single unit of light” — though the theory is believed to hold true for other particles.

If a photon is put through a “special crystal”, it can be split into separate photons, he told AFP.

“They’re different colours from the one you started with,” Phillips said, “but because they started from one photon, they are entangled”.

This is where it gets weird. If you measure one photon it instantly affects the other — no matter how far you separate them.

This is not supposed to happen. Einstein’s theory of relativity says nothing can travel faster than the speed of light.

And they are inextricably bound together. When you observe the first photon, there are even odds that it will show itself as “either up or down”, Phillips said. But if it is up, then its twin is instantly forced down, or vice versa. 

– New way to kill Schroedinger’s cat –

He extended the famous quantum thought experiment of Schroedinger’s cat, in which a hypothetical animal locked inside a box with a flask of poison remains simultaneously alive and dead — until the moment the box is opened.

For quantum entanglement, if you have two cats in two boxes, by opening one you would “kill that cat and instantaneously — on the other side of the universe — the other cat has been killed,” Phillips said.

Phillips has seen this “extremely strange thing” first hand in his laboratory, where he has two beams of photons set up.

“I can put my hand in one beam and something happens to the other beam on the other side of the room instantaneously — I see a needle flick,” he said.

“That would still be true if my laboratory was millions of miles across.”

It was the fact that this occurs instantly that bothered Einstein, who dismissed this element of quantum entanglement — called non-locality — as “spooky action at a distance” in 1935.

He instead believed that “hidden variables” must somehow be behind what was happening.

In 1964, influential physicist John Stewart Bell found a way to measure whether there were in fact hidden variables inside quantum particles.

Two decades later, French physicist Alain Aspect, who won the Nobel on Tuesday, and his team were among the first able to test Bell’s theory in a laboratory.

By testing its limits, they found that “quantum mechanics resists all possible attacks,” Aspect said in an interview published by the Nobel Foundation after his win on Tuesday.

– ‘Totally crazy’ –

In doing so, Aspect proved Einstein wrong. But he was magnanimous to history’s greatest physicist.

“I like to say that Einstein’s owes a great, great merit in raising the question,” Aspect said, adding that “non-locality does not allow you to send a useful message faster than light”.

Even Aspect finds it weird to have accepted the idea of something “totally crazy” like non-locality into “my mental images,” he said.

The other physics Nobel winners, Austria’s Anton Zeilinger and John Clauser of the US, also tested Bell’s theory, ruling out loopholes and helping pave the way for what has been called the “second quantum revolution”.

Discoveries by Zeilinger, dubbed the “quantum pope”, have shown the potential for quantum entanglement to be used in encryption, quantum teleportation and more. 

Phillips from Imperial College London has developed a prototype the size of a hi-fi sound system that uses quantum entanglement to diagnose breast cancer.

But perhaps the greatest mystery about quantum entanglement remains one that puzzled Einstein nearly a century ago: why does it occur?

“We have to be humble in the face of physics,” Phillips said, adding that it was the same as any another aspect of nature.

“It just is.”

French-US-Austrian trio win physics Nobel for quantum mechanics work

A trio of physicists on Tuesday won the Nobel Prize for discoveries in the field of quantum mechanics that have paved the way for quantum computers, networks and secure encrypted communication.

Alain Aspect of France, John Clauser of the United States and Austria’s Anton Zeilinger were honoured for “groundbreaking experiments using entangled quantum states, where two particles behave like a single unit even when they are separated”, the committee said.

“It has become increasingly clear that a new kind of quantum technology is emerging,” said Anders Irback, chair of the Nobel Committee for Physics.

Albert Einstein and two other physicists first brought up the idea of quantum entanglement in 1935, in a thought experiment that became known as the EPR paradox. 

– ‘Spooky action’ –

It involved two or more particles that existed in an “entangled” state, which means that what happens to one determines what happens to the other. 

This occurs even if they are far apart, something Einstein dismissed as “spooky action at a distance”.

While quantum mechanics have proved the iconic physicist wrong, Aspect said Einstein still played an important role in identifying the issue.

“We must give the credit to Einstein to have raised the equation,” Aspect said in his Nobel Foundation interview.

Aspect, a professor at the Paris-Saclay University, also noted the international makeup of the group as an important signal in the face of rising nationalism around the world, which he urged the scientific community to stand against.

“It’s important that scientists keep their international community at a time when… nationalism is taking over in many countries,” he said in a phone interview with the Nobel Foundation published on YouTube.

Aspect and Clauser, a research physicist based in California, were singled out for their developments on the work of John Stewart Bell, who in the 1960s “developed the mathematical inequality that is named after him”.

First, Clauser “built an apparatus that emitted two entangled photons at a time”, through a filter to test their polarisation. 

“The result was a clear violation of a Bell inequality and agreed with the predictions of quantum mechanics,” the jury said.

Aspect then closed one loophole that meant the measurement setting did not affect the results after the entangled pair had left its source.

– ‘Second revolution’ –

Zeilinger, a professor of physics at the University of Vienna, was highlighted for his work on “quantum teleportation, which makes it possible to move a quantum state from one particle to one at a distance”, the jury said.

“It is not like in the ‘Star Trek’ films or whatever, transporting something — certainly not the person — over some distance,” Zeilinger said.

“But the point is, using entanglement you can transfer all the information which is carried by an object over to some other place where the object is reconstituted.”

The physicists have been credited with paving the way towards what has been called the “second quantum revolution”.

“The first quantum revolution allowed us to have transistors, semi contactors, computers and lasers,” Mohamed Bourennane, a professor in quantum information at Stockholm University, told AFP.

“But the second revolution, which is based on superposition and entanglement, will allow us in the future to have new devices like quantum computers,” he added.

Clauser, Aspect and Zeilinger were also honoured together when they received the prestigious Wolf Prize in 2010.

The three, who will share the Nobel award sum of 10 million Swedish kronor ($901,500), will receive the prize from King Carl XVI Gustaf at a formal ceremony in Stockholm on December 10, the anniversary of the death in 1896 of scientist Alfred Nobel, who created the prizes in his last will and testament.

The scientists were congratulated by French president Emmanuel Macron, who noted Einstein’s scepticism.

“Einstein himself did not believe in quantum entanglement! Today, the promises of quantum computing are based on this phenomenon,” Macron tweeted

Last year, the academy honoured Syukuro Manabe, of Japan and the United States, and Klaus Hasselmann of Germany for their research on climate models. 

Italian Giorgio Parisi also won for his work on the interplay of disorder and fluctuations in physical systems.

The physics prize will be followed by the Nobels for chemistry on Wednesday, the highly watched literature and peace prizes on Thursday and Friday respectively, and the economics prize on Monday.

Micron unveils new $100 bn New York semiconductor plant

Micron announced Tuesday it will invest up to $100 billion to build semiconductors in New York state, capitalizing on US policies to boost domestic manufacturing of key goods.

The chip giant, which is based in the western state of Idaho, said it plans to begin construction in 2024 on a project expected to be executed over two decades. 

New York state is providing $5.5 billion in state incentives over the life of the build-out and the project also expects to utilize tax credits under the Chips Act signed into law by President Biden in August, said a Micron news release.

At an event in Syracuse to announce the investment, New York Governor Kathy Hochul likened the drive to a “fourth industrial revolution” and alluded to an improvement in fortunes for a upstate New York region that had lost thousands of manufacturing jobs in earlier decades.

There is “hope of a better tomorrow,” Hochul said.

Micron, describing the plant as the “largest semiconductor fabrication facility in the history of the United States,” said the venture would create 50,000 jobs in the state, including 9,000 at Micron. 

Biden touted the investment as reflecting the importance of the Chips and Science Act, which included around $52 billion to promote production of microchips, the tiny but powerful and relatively hard-to-make components at the heart of almost every modern piece of machinery.

“To those who doubted that America could dominate the industries of the future, I say this -– you should never bet against the American people,” Biden said in a news release. “Today is another win for America.”

Shortages of semiconductors have been a drag on the global economy during the pandemic, crimping production of automobiles, personal electronics and other goods.

Micron Chief Executive Sanya Mehrota said the investment “will deliver benefits beyond the semiconductor industry by strengthening US technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”

Micron unveils new $100 bn New York semiconductor plant

Micron announced Tuesday it will invest up to $100 billion to build semiconductors in New York state, capitalizing on US policies to boost domestic manufacturing of key goods.

The chip giant, which is based in the western state of Idaho, said it plans to begin construction in 2024 on a project expected to be executed over two decades. 

New York state is providing $5.5 billion in state incentives over the life of the build-out and the project also expects to utilize tax credits under the Chips Act signed into law by President Biden in August, said a Micron news release.

At an event in Syracuse to announce the investment, New York Governor Kathy Hochul likened the drive to a “fourth industrial revolution” and alluded to an improvement in fortunes for a upstate New York region that had lost thousands of manufacturing jobs in earlier decades.

There is “hope of a better tomorrow,” Hochul said.

Micron, describing the plant as the “largest semiconductor fabrication facility in the history of the United States,” said the venture would create 50,000 jobs in the state, including 9,000 at Micron. 

Biden touted the investment as reflecting the importance of the Chips and Science Act, which included around $52 billion to promote production of microchips, the tiny but powerful and relatively hard-to-make components at the heart of almost every modern piece of machinery.

“To those who doubted that America could dominate the industries of the future, I say this -– you should never bet against the American people,” Biden said in a news release. “Today is another win for America.”

Shortages of semiconductors have been a drag on the global economy during the pandemic, crimping production of automobiles, personal electronics and other goods.

Micron Chief Executive Sanya Mehrota said the investment “will deliver benefits beyond the semiconductor industry by strengthening US technology leadership as well as economic and national security, driving American innovation and competitiveness for decades to come.”

Markets surge on interest rate hopes

Global stocks rallied Tuesday and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.

Frankfurt and Paris equities soared more than three percent in value after similar stellar gains in Tokyo, while London won two percent.

Wall Street stocks snapped higher at the open, with the Dow climbing 1.3 percent.

“Weaker-than-expected manufacturing data from the US was taken as a signal that rising interest rates may be having some effect on cooling demand for goods,” said Interactive Investor analyst Richard Hunter.

“This in turn led to hopes of a Federal Reserve pivot, even though the spectre of inflation remains firmly at the top of their stated to-do list.”

The Fed and other central banks across the world have raised interest rates in efforts to tame runaway inflation, but the monetary tightening has raised fears that it could plunge countries into recession.

Those concerns have fed into sharp drops in stocks in recent weeks, as have expectations that the Fed will have to raise interest rates by a couple more percentage points through much of next year to get on top of inflation.

But Wall Street had enjoyed a bumper start to the fourth quarter on Monday after data showed US manufacturing growth slowed more than expected in September to its weakest in more than two years.

The Institute for Supply Management said its manufacturing index dropped 1.9 points to 50.9 percent, just barely above the 50-percent threshold indicating expansion, as the prices index fell to the lowest in more than two years.

Eurozone manufacturing survey data out Monday showed a contraction on the back of the region’s ongoing energy crisis.

“The turnaround in risk appetite appears to have been driven by another deterioration in PMI surveys as traders speculate that such weakness could be a precursor to slower monetary tightening,” noted OANDA market analyst Craig Erlam.

Asian markets built on the Monday Wall Street surge. Tokyo and Seoul were among the leaders, despite news that North Korea had fired a missile over Japan for the first time since 2017.

Sydney soared 3.8 percent after the Reserve Bank of Australia lifted interest rates by less than expected.

Hong Kong and Shanghai were closed for holidays.

Investors will focus later this week on Friday’s all-important US jobs figures for the latest reading on the health of the world’s biggest economy.

“The specter of the September employment report on Friday, however, is still hanging out there as a potential spoiler,” said Briefing.com analyst Patrick O’Hare.

“By the same token, it could also provide more interest rate relief if it is on the weaker side of things,” he added.

– Sterling extends gains –

Oil also continued to rise on expectations OPEC and other major producers will slash output this week, having become spooked by a plunge in the commodity on recession fears.

The 13 members of the Organization of the Petroleum Exporting Countries (OPEC), led by Riyadh, and their 10 allies headed by Moscow will hold Wednesday their first in-person meeting at the group’s headquarters in Vienna since March 2020.

The rally in equities came as the dollar weakened owing to lower expectations for US monetary tightening, with the pound also supported by the UK government’s decision to scrap a planned cut in the top rate of income tax.

The pound extended gains after breaking back above $1.13, having last Monday tanked to a record low $1.0350. The euro rose around one percent against the greenback.

– Key figures around 1330 GMT –

Paris – CAC 40: UP 3.2 percent at 5,980.38 points

Frankfurt – DAX: UP 2.8 percent at 12,549.25

London – FTSE 100: UP 2.0 percent at 7,047.34

EURO STOXX 50: UP 3.2 percent at 3,449.00

New York – Dow: UP 1.3 percent at 29,873.99

Tokyo – Nikkei 225: UP 3.0 percent at 26,992.21 (close)

Hong Kong – Hang Seng Index: Closed for a holiday

Shanghai – Composite: Closed for a holiday

Pound/dollar: UP at $1.1358 from $1.1323 on Monday

Euro/dollar: UP at $0.9917 from $0.9826

Euro/pound: UP at 87.33 pence from 86.77 pence

Dollar/yen: UP at 144.74 yen from 144.55 yen

Brent North Sea crude: UP 2.8 percent at $91.31 per barrel

West Texas Intermediate: UP 2.6 percent at $85.83 per barrel

burs-rl/jm

Markets surge on interest rate hopes

Global stocks rallied Tuesday and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease its interest-rate hiking plans.

Frankfurt and Paris equities soared more than three percent in value after similar stellar gains in Tokyo, while London won two percent.

Wall Street stocks snapped higher at the open, with the Dow climbing 1.3 percent.

“Weaker-than-expected manufacturing data from the US was taken as a signal that rising interest rates may be having some effect on cooling demand for goods,” said Interactive Investor analyst Richard Hunter.

“This in turn led to hopes of a Federal Reserve pivot, even though the spectre of inflation remains firmly at the top of their stated to-do list.”

The Fed and other central banks across the world have raised interest rates in efforts to tame runaway inflation, but the monetary tightening has raised fears that it could plunge countries into recession.

Those concerns have fed into sharp drops in stocks in recent weeks, as have expectations that the Fed will have to raise interest rates by a couple more percentage points through much of next year to get on top of inflation.

But Wall Street had enjoyed a bumper start to the fourth quarter on Monday after data showed US manufacturing growth slowed more than expected in September to its weakest in more than two years.

The Institute for Supply Management said its manufacturing index dropped 1.9 points to 50.9 percent, just barely above the 50-percent threshold indicating expansion, as the prices index fell to the lowest in more than two years.

Eurozone manufacturing survey data out Monday showed a contraction on the back of the region’s ongoing energy crisis.

“The turnaround in risk appetite appears to have been driven by another deterioration in PMI surveys as traders speculate that such weakness could be a precursor to slower monetary tightening,” noted OANDA market analyst Craig Erlam.

Asian markets built on the Monday Wall Street surge. Tokyo and Seoul were among the leaders, despite news that North Korea had fired a missile over Japan for the first time since 2017.

Sydney soared 3.8 percent after the Reserve Bank of Australia lifted interest rates by less than expected.

Hong Kong and Shanghai were closed for holidays.

Investors will focus later this week on Friday’s all-important US jobs figures for the latest reading on the health of the world’s biggest economy.

“The specter of the September employment report on Friday, however, is still hanging out there as a potential spoiler,” said Briefing.com analyst Patrick O’Hare.

“By the same token, it could also provide more interest rate relief if it is on the weaker side of things,” he added.

– Sterling extends gains –

Oil also continued to rise on expectations OPEC and other major producers will slash output this week, having become spooked by a plunge in the commodity on recession fears.

The 13 members of the Organization of the Petroleum Exporting Countries (OPEC), led by Riyadh, and their 10 allies headed by Moscow will hold Wednesday their first in-person meeting at the group’s headquarters in Vienna since March 2020.

The rally in equities came as the dollar weakened owing to lower expectations for US monetary tightening, with the pound also supported by the UK government’s decision to scrap a planned cut in the top rate of income tax.

The pound extended gains after breaking back above $1.13, having last Monday tanked to a record low $1.0350. The euro rose around one percent against the greenback.

– Key figures around 1330 GMT –

Paris – CAC 40: UP 3.2 percent at 5,980.38 points

Frankfurt – DAX: UP 2.8 percent at 12,549.25

London – FTSE 100: UP 2.0 percent at 7,047.34

EURO STOXX 50: UP 3.2 percent at 3,449.00

New York – Dow: UP 1.3 percent at 29,873.99

Tokyo – Nikkei 225: UP 3.0 percent at 26,992.21 (close)

Hong Kong – Hang Seng Index: Closed for a holiday

Shanghai – Composite: Closed for a holiday

Pound/dollar: UP at $1.1358 from $1.1323 on Monday

Euro/dollar: UP at $0.9917 from $0.9826

Euro/pound: UP at 87.33 pence from 86.77 pence

Dollar/yen: UP at 144.74 yen from 144.55 yen

Brent North Sea crude: UP 2.8 percent at $91.31 per barrel

West Texas Intermediate: UP 2.6 percent at $85.83 per barrel

burs-rl/jm

UK's Truss says 'no shame' in climbdown amid Tory tensions

Britain’s Prime Minister Liz Truss insisted Tuesday she felt “no shame” and vowed to press on with unpopular economic reforms despite lurching into a self-inflicted crisis just a month into her term.

Despite Truss’s attempts to move on, cabinet splits emerged as the ruling Conservatives endured another stormy day at their annual conference in Birmingham, central England.

Truss and Chancellor of the Exchequer Kwasi Kwarteng have been forced to climb down on their plan to cut income tax for the richest, as ordinary Britons suffer the worst cost-of-living crisis in generations.

The plan met with uproar from Tory critics, deep disapproval in opinion polls, and destabilised financial markets given its reliance on billions extra in government borrowing.

“I think there’s absolutely no shame in a leader listening to people and responding, and that’s the kind of person I am,” Truss told Sky News.

Reiterating that the tax cut had proved a “distraction”, she added on the BBC: “I want to take people with me. Yes, we are going to have to make tough decisions.”

“I’m determined to carry on with this growth package,” she told LBC radio, stressing another component of the plan to cap soaring energy bills.

– Budget confusion –

Truss and Kwarteng were widely reported as bringing forward a major debt reduction plan to later this month, having insisted previously that it would only come on November 23.

Its unveiling will be accompanied by independent forecasts from the Office for Budget Responsibility (OBR), in a bid to calm febrile financial markets.

But the two politicians both insisted November 23 remained the date, with Kwarteng telling GB News that media had been “reading the runes” incorrectly.

Mel Stride, the Tory chairman of the powerful Treasury committee in the House of Commons, had welcomed the reporting of an earlier date to show how the government intends to fix its finances.

Acting in advance of the Bank of England’s next rate-setting meeting on November 3 could “reduce the upward pressure on interest rates to the benefit of millions of people up and down the country”, he added.

Potential cuts to the welfare budget are shaping up as the next battle with dissident Tory MPs after the aborted tax cut.

“We have to look at these issues in the round. We have to be fiscally responsible,” Truss told BBC radio.

– ‘Coup’ –

But senior minister Penny Mordaunt, one of the candidates Truss beat in the Tory leadership race, stepped out of the cabinet line.

It “makes sense” that welfare should still rise in line with soaring rates of inflation, she told Times Radio.

“That’s what I voted for before, and so have a lot of my colleagues.”

Truss said she did not intend to fire Mordaunt, and denied that she had lost control of her cabinet after putting on a show of unity with Kwarteng on a visit to a construction site in Birmingham.

“We are working with our MPs, this is a team, this Conservative team, putting forward our policies for the country and delivering for the country,” she told ITV.

There was little team spirit on display from Home Secretary Suella Braverman, however, as she accused party critics of seeking to stage a “coup” against Truss.

And many commentators argued Truss’s credibility was already in tatters not long after she succeeded Boris Johnson on September 6.

The Daily Mail newspaper, normally a trenchant voice in support of the new leader’s right-wing agenda, headlined its main story: “Get a grip!”

– Honouring Boris –

Dissident ringleader Michael Gove kept up criticism of Truss, stressing all Conservative MPs had been elected on Johnson’s manifesto of 2019. 

It included a pledge to end arbitrary evictions of tenants by private landlords, he noted at a conference fringe event held by the housing charity Shelter. 

“We’ve got to keep faith with what Boris wanted, we’ve got to make sure that manifesto commitment is honoured,” Gove said, after Truss reneged on a Johnson commitment to ban fracking. 

But asked by reporters if Truss would survive past the end of the year, the former minister said: “Yes.”

Shelter presented poll findings that suggested private renters who voted Tory in 2019 are deserting the party in droves for Labour and other opposition parties. 

Wider opinion polls in recent days have shown Labour breaching 50 percent as the Tories slump under Truss, fraying nerves in Birmingham as she prepares to close the conference on Wednesday.

French-US-Austrian trio win physics Nobel for quantum mechanics work

A trio of physicists on Tuesday won the Nobel Prize for discoveries in the field of quantum mechanics that have paved the way for quantum computers, networks and secure encrypted communication.

Alain Aspect of France, John Clauser of the United States and Austria’s Anton Zeilinger were honoured for “groundbreaking experiments using entangled quantum states, where two particles behave like a single unit even when they are separated”, the committee said.

Their results “have cleared the way for new technology based upon quantum information”.

“It has become increasingly clear that a new kind of quantum technology is emerging,” Anders Irback, chair of the Nobel Committee for Physics, said in a statement.

Aspect, a professor at the Paris-Saclay University, said the international makeup of the group was an important signal in the face of rising nationalism around the world, which he urged the scientific community to stand against.

“It’s important that scientists keep their international community at a time when … nationalism is taking over in many countries,” Aspect said in a phone interview with the Nobel Foundation published on YouTube.

– ‘Spooky action’ –

Albert Einstein and two other physicists first brought up the idea of quantum entanglement in 1935, in a thought experiment that became known as the EPR paradox. 

It involved two or more particles that existed in an “entangled” state, which means that what happens to one determines what happens to the other. This occurs even if they are far apart, something Einstein dismissed as “spooky action at a distance”.

While quantum mechanics have proved the iconic physicist wrong, Aspect said Einstein still played an important role in identifying the issue.

“We must give the credit to Einstein to have raised the equation,” Aspect said in his Nobel Foundation interview.

Aspect and Clauser, a research physicist based in California, were singled out for their developments on the work of John Stewart Bell, who in the 1960s “developed the mathematical inequality that is named after him”.

First, Clauser “built an apparatus that emitted two entangled photons at a time”, through a filter to test their polarisation. 

“The result was a clear violation of a Bell inequality and agreed with the predictions of quantum mechanics,” the jury said.

Aspect then closed one loophole that meant the measurement setting did not affect the results after the entangled pair had left its source.

– ‘Second revolution’ –

Zeilinger, a professor of physics at the University of Vienna, was highlighted for his work on “quantum teleportation, which makes it possible to move a quantum state from one particle to one at a distance”, the jury said.

“It is not like in the ‘Star Trek’ films or whatever, transporting something — certainly not the person — over some distance,” Zeilinger said.

“But the point is, using entanglement you can transfer all the information which is carried by an object over to some other place where the object is reconstituted.”

The physicists have been credited with paving the way towards what has been called the “second quantum revolution”.

“The first quantum revolution allowed us to have transistors, semi contactors, computers and lasers,” Mohamed Bourennane, a professor in quantum information at Stockholm University, told AFP.

“But the second revolution, which is based on superposition and entanglement, will allow us in the future to have new devices like quantum computers,” he added.

Clauser, Aspect and Zeilinger were also honoured together when they received the prestigious Wolf Prize in 2010.

The three, who will share the Nobel award sum of 10 million Swedish kronor ($901,500), will receive the prize from King Carl XVI Gustaf at a formal ceremony in Stockholm on December 10, the anniversary of the death in 1896 of scientist Alfred Nobel, who created the prizes in his last will and testament.

Last year, the academy honoured Syukuro Manabe, of Japan and the United States, and Klaus Hasselmann of Germany for their research on climate models. Italian Giorgio Parisi also won for his work on the interplay of disorder and fluctuations in physical systems.

The physics prize will be followed by the Nobels for chemistry on Wednesday, the highly watched literature and peace prizes on Thursday and Friday respectively, and the economics prize on Monday.

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