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Policies to support energy transition losers may fall short
Policies to support energy transition losers may fall short
Economy
by  AFP

US efforts to transition to cleaner energy carry risks of mass layoffs in mature industries, say experts, who warn that policies to cushion the blow may not live up to hype. Of particular concern is a potential mass-layoff event such as the shuttering of an ICE assembly plant or an oil refinery.

'Weak tea': Climate scientists push back against COP28 cheer
'Weak tea': Climate scientists push back against COP28 cheer
Economy
by  AFP

A UN climate deal that approved a call to transition away from fossil fuels has been hailed as a major milestone and a cause for at least cautious optimism. "The agreement to 'transition away from fossil fuels' was weak tea at best," he told AFP. "It's like promising your doctor that you will 'transition away from donuts' after being diagnosed with diabetes.

Brazil cuts interest rate another half-point
Brazil cuts interest rate another half-point
Economy
by  AFP

Brazil's central bank cut its key interest rate by half a point for the fourth straight time Wednesday, continuing the easing President Luiz Inacio Lula da Silva hopes will spur Latin America's biggest economy.

BP sacks former CEO for 'serious misconduct'
BP sacks former CEO for 'serious misconduct'
Economy
by  AFP

BP on Wednesday denied its former chief executive of more than £32-million ($40-million) payout because of his failure to disclose past personal relationships with colleagues. A year earlier, Brian Krzanich stepped down as chief executive of US computer chip giant Intel over a "past consensual relationship" with an employee in violation of the company's non-fraternisation policy. phz/srg/cw