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“Policymakers and politicians are not adequately recognising, let alone responding to the catastrophic threat posed by environmental change,” the report’s authors said.

Three shifts in understanding were needed to reverse this, they added, urging those in power to reassess their knowledge of the scale and pace of environmental breakdown, the implications this would have on societies, and the need for transformative change.

The report also warned that vested interests and a rapidly changing economy were also standing in the way of progress.

“Elite interests in countries across the world, including industries whose business model depends on continued environmental degradation, use their considerable power and wealth to influence political debates and policy decisions on environmental breakdown, with many instances of groups blocking or reversing progress,” the report said.

“It is estimated that 100 companies are responsible for the emission of 71 percent of industrial greenhouse gases since 1988.”

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Trump will end Iran oil waivers, trying to drive its exports to zero

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Saudi Arabia and UAE have assured the U.S. they will ensure the market has an “appropriate supply,” Pompeo said. He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive.

The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand.

The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Monday.

“In the next few weeks, the Kingdom will be consulting closely with other producing countries and key oil consuming nations to ensure a well-balanced and stable oil market, for the benefits of producers and consumers as well as the stability of the world economy,” Falih said in a statement.

Following Washington’s official announcement, Trump tweeted that Saudi Arabia and other OPEC members will “more than make up” for any drop in Iranian supplies.

Three of the countries that received the exemptions — Greece, Italy and Taiwan — have already cut their imports from Iran to zero. However, analysts widely expected the Trump administration to extend the waivers to China, India, Japan, South Korea and Turkey, all of which took advantage of the waivers during the first six-month window that began in November.

Companies in those countries now face the threat of being locked out of the U.S. financial system if they continue to import crude from Iran. The question is whether some of those countries will seek to skirt the sanctions, including by facilitating or encouraging purchases of Iranian crude through companies not tied to the U.S. financial system.

China’s Foreign Ministry on Monday denounced Washington’s Iran policy.

“China opposes the unilateral sanctions and so-called ‘long-arm jurisdictions’ imposed by the US. Our cooperation with Iran is open, transparent, lawful and legitimate, thus it should be respected,” Foreign Ministry spokesperson Geng Shuang told reporters.

“Our government is committed to upholding the legitimate rights and interests of Chinese companies and will play a positive and constructive role in upholding the stability of global energy market.”

Turkish Minister of Foreign Affairs Mevlut Cavusoglu also rejected the sanctions, saying they “will not serve regional peace and stability” and would hurt the Iranian people.

Dialing up pressure on Iran threatens to spark maritime conflict in the Persian Gulf. Iran has long threatened to shut down the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, if it is prevented from exporting oil.

On Monday, Iranian officials renewed those threats.

“According to international law, the Strait of Hormuz is a marine passageway and if we are barred from using it, we will shut it down. In case of any threat, we will have not even an iota of doubt to protect and defend the Iranian waters,” Rear Admiral Alireza Tangsiri, commander of the Islamic Revolution Guards Corps’ Navy, told the al-Alam news channel, according to Iran’s semi-official Fars news agency.

Earlier this month, the Trump administration designated Iran’s Islamic Revolutionary Guard Corps a terrorist organization, marking the first time the U.S. has applied the designation to a foreign country’s military.



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Samsung Galaxy Fold launch delayed by breaks

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Samsung has delayed the release of the Galaxy Fold past the original April 26 launch date. The launch won’t happen until “at least next month,” according to The Wall Street Journal.

Samsung declined to comment on or confirm the Journal report. Samsung’s U.S. launch partners for the Galaxy Fold, T-Mobile and AT&T, did not immediately respond to a request for comment.

Samsung recently postponed a launch event for the Galaxy Fold in China.

The Galaxy Fold is the first foldable phone to launch in the United States, but early review units, including one tested by CNBC, were breaking.

After just two days of use, the screen on CNBC’s test unit began flickering and then stopped working completely. Other reviewers noticed similar issues but had removed a protective film on top of the screen. CNBC did not remove that film. CNBC returned the device to Samsung, but the company has yet to explain why the unit broke.

The Journal said pressure from the phone’s hinge might be damaging the foldable display.

Samsung began taking preorders for the Galaxy Fold earlier this month. The device will also be sold by Best Buy, AT&T, T-Mobile and Samsung store locations around the United States.

Read the Wall Street Journal report here.

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Leica says it wasn’t behind ad depicting Tiananmen Square protests

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A promotional video for camera maker Leica showing photojournalists covering global conflicts — including the Tiananmen Square protests in China in 1989 — has resulted in the company’s name being banned on Chinese social media and the marketer denying responsibility for the video.

The five-minute film is called “The Hunt.” It depicts photographers covering conflicts, including one capturing images of the “Tank Man,” who stood in front of a convoy of Chinese military tanks the day after the Tiananmen Square massacre in which Chinese military attacked pro-democracy demonstrators. That subject has been widely censored in China. The video concludes with the image of Leica’s logo.

The ad was released by Brazilian ad agency F/Nazca Saatchi & Saatchi, according to the South China Morning Post. The agency told the publication it had developed the film with Leica representatives in Brazil and said it “would never harm its huge reputation by creating, producing and airing a work without the proper approval of its client.”

The agency said it has worked with Leica in Brazil since 2012.

Meanwhile, Leica told the Morning Post the video was not commissioned by the company. Leica and F/Nazca did not immediately respond for requests for comment from CNBC.

By Friday morning, the Chinese social media site Weibo had banned the word “Leica” in Mandarin and English.

Some social media posters wondered whether Chinese tech giant Huawei, which works with Leica on smartphone camera lenses, would be pulled into the controversy. Huawei declined to comment on the video.



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