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Insider Today: Nike's airball
  + stars: | 2024-09-22 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. I'll be here on the weekend to break down some of the biggest stories in business and help you get ahead. The Oregon-based company last week announced Elliott Hill would return to the company as CEO, replacing John Donahue. AdvertisementAn internal "Frequently Asked Questions" document, obtained by Business Insider, outlined how the RTO plan will work.
Persons: , Matt Turner, Donald Trump, There's, It's, it's, Elliott Hill, John Donahue, Dre Waltizer, Jeff Chiu, Alyssa Powell, Larry, Wayne Osborne, Osborne, Wayne, Andy Jassy, David X Prutting, Paul Porter, Rebecca Zisser, Alexander brothers, Oren, Alon, Tal Alexander, iStock, — Mark Zuckerberg, Taylor Swift Organizations: Service, Fed, Nike, Business, Investors, Google Locations: China, The Oregon
Today, Rafah is uninhabitable, its buildings crumbled and blackened. When NBC News was invited into Gaza's southernmost city by the Israel Defense Forces on Friday, there were no civilians to be seen, just a few cats. Dave Copeland / NBC NewsFor more on this story watch "NBC Nightly News with Lester Holt" tonight at 6:30 p.m. ET/5:30 p.m. CT. The drills they use to find open spaces beneath the earth's surface lie several feet apart. They said it showed how the tunnel was dug below a child’s bedroom that had paintings of Mickey Mouse and Snow White on the walls.
Persons: Dave Copeland, Lester Holt, Daniel Hagari, Tal, Hersh Goldberg, Mickey Mouse Organizations: NBC, Israel Defense Forces, IDF Locations: RAFAH, Gaza, Israel, Rafah, , Tal Al Sultan
TEL AVIV — The six hostages recently found dead in Gaza were executed by Hamas the night before Israeli forces reached the tunnel where they were being held, government officials said Tuesday night. The IDF said it reached that tunnel and made the gruesome discovery on Aug. 30. AK-47 magazines and shell casings were found nearby, Israeli officials said. "It was a hard moment to see the bloodstains on the floor," said Rear Admiral Daniel Hagari, an IDF spokesperson. That's when about 1,200 people were killed in Israel and 250 people taken hostage.
Persons: Hersh Goldberg, Rafah’s Tal, It's, Daniel Hagari, Mickey Mouse, Hagari, Goldberg, Carmel Gat, Eden Yerushalmi, Alexander Lobanov, Almog, Sgt, Ori Danino, Benjamin Netanyahu, , Shai Dickman, Gat, Carmel, Organizations: Israel Defense Forces, AK, IDF, Israel’s, Health Ministry Locations: TEL AVIV, Gaza, Rafah’s Tal Al Sultan, Israel
At the center were cofounders Tal and Oren Alexander, sibling dealmakers who were known for selling some of the country's most exclusive and expensive homes. But accusations of rape against the brothers in recent months have resulted in an existential crisis for the company. An attorney for Tal Alexander has sought to dismiss the case against him. In the immediate aftermath of the accusations, the brothers announced they would take a leave from Official. Official has used the brokerage services company Side to provide it with back office support and to hold its brokers' licenses.
Persons: , cofounders Tal, Oren Alexander, dealmakers, Nicole Oge, Richard Jordan, Andrew Wachtfogel, Alexander, Tal, Oren, Oge, Richard, Andrew, Alon Alexander, Alon, Tal Alexander, James Cinque, Nicole, Tyrone McKillen Organizations: Service, Partners, Business, The New York Times, Gabbana Locations: Oge, The, The Raleigh, Miami Beach, Los Angeles
CNN —An ongoing excavation in Damietta, Egypt, has uncovered 63 tombs from more than 2,500 years ago, alongside a trove of gold artifacts, coins and pottery. Sixty-three tombs were uncovered during an ongoing excavation in Damietta, Egypt. The bodies were buried with gold foil figures that depicted religious symbols and ancient Egyptian idols. Ancient Egyptian burials reflect status and wealthThe excavation and mission to explore the necropolis has been ongoing for years. The recent find of 63 tombs consisted of mostly mud-brick tombs as well as some simple burials, according to a ministry statement.
Persons: Alexander the Great, Tal, Salima Ikram, Kotb Fawzy, King Psamtik II, Horus, , Lorelei Corcoran, Corcoran Organizations: CNN, Egypt’s Ministry of Tourism and Antiquities, Egypt Ministry of Tourism, American University, Ministry of Tourism, Antiquities, of Egyptian Art, University of Memphis Locations: Damietta, Egypt, Cairo, Tennessee
This was a day to forget for the United States men’s soccer team. As seen from the graphic below, Morocco dominated the game in key statistical metrics, ending the United States’ hopes of a medal. Thus concludes the United States men’s two-tournament summer. Tanner Tessmann was at the heart of most of the United States’ positive passages. It won’t inspire many hearts and minds, but the United States did exactly that in the first half against Morocco — save for one ill-advised wag of Harriel’s leg.
Persons: Soufiane Rahimi, Ilias Akhomach, Hakimi, Mehdi Maouhoub, United States ’, Jeff Rueter, Greg O’Keeffe, Bryan Reynolds, Ricardo Pepi, Malik Tillman, Gio Reyna, Yunus Musah, Marko Mitrovic, Duncan McGuire, Walker Zimmerman, Miles Robinson, Zimmerman, Alex Gottschalk, McGuire, Griffin Yow, Mitrovic, Djordje Mihailovic, Gianluca Busio, Jack McGlynn didn’t, Maximilian Dietz, Tanner Tessmann, Patrick Schulte, Kevin Paredes, Tim Weah, Nathan Harriel …, Harriel, Paul Ellis, Rahimi, Abdessamad Ezzalzouli, Morocco’s, Morocco —, Marc Atkins, Paredes, Brad Smith, Bilal El Khannous, Greg O’Keeffe Rahimi’s, isn’t, Al, plaudit, Tarik Sektioui’s, John Todd Organizations: United, soccer, Copa America, Olympics, PSV Eindhoven, New, Philadelphia Union, Getty, Real Betis, Guinea, Morocco, Wolfsburg, Paredes ruffled, U.S, Asian Champions League, UAE Locations: United States, Morocco, Parc, States, New Zealand, Guinea, France, Ukraine, U.S, Al Ain, American
An actress and comedian says she was drugged and sexually assaulted by Oren Alexander, a top luxury real estate agent who is facing a string of accusations that he and his two of his brothers sexually assaulted women — allegations that had been whispered throughout the high-end real estate industry for years. Renee Willett, 31, filed a federal lawsuit on Friday accusing Mr. Alexander, 37, of attacking her in his apartment nearly nine years ago. Two earlier lawsuits filed this year name Mr. Alexander and his twin brother, Alon, who does not work in real estate but often socializes with him. A third suit filed in June names Oren, Alon and their older brother Tal Alexander, 38, who is Oren’s longtime partner in real estate sales. Isabelle Kirshner, a lawyer for Oren Alexander, said she had no comment on the new allegation at this time.
Persons: Oren Alexander, Renee Willett, Mr, Alexander, Alexander ., Alon, Oren, Tal Alexander, Isabelle Kirshner, Tal, Willett Organizations: Mr, of, New York Times Locations: U.S, Southern, of New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. McKillen said he hadn't formally parted ways with the New York firm but was arranging his exit. He said that eight brokers who worked with him at Official would remain with Plus in its breakaway from the firm. Shortly afterward, news broke that a third woman alleged in a New York civil case filed that month that Tal and Alon Alexander raped her in 2012 as Oren Alexander watched. AdvertisementIn a response to the lawsuit against him, Tal Alexander said his accuser's claims were "fabricated allegations for financial gain."
Persons: , Tyrone McKillen, McKillen, hadn't, Nicole Oge, Tal, Oren Alexander, Alon, Alon Alexander, Tal Alexander, Oge, Oren, Michael Shvo, John Hudak, Beyoncé, Tyrone, Richard Jordan Organizations: Service, Partners, New, Business, Group, Raleigh, Bel Air Locations: Los Angeles, New York, Miami, Miami Beach
On Sunday, the Israeli military claimed to have targeted Hamas’ military chief and killed a Hamas brigade commander in an airstrike in Khan Younis. The Israeli military said its air force struck the location where “a number of terrorists” were operating. Palestinians and UN workers examine the destroyed UNRWA school in Nuseirat refugee camp of Deir al-Balah, Gaza on July 15, 2024. Meanwhile, the latest Israeli strikes have put new pressure on the success of ongoing ceasefire and hostage negotiations, which hit yet another roadblock last week. The Israeli military is verifying whether he was killed while Netanyahu acknowledged it is uncertain whether he died.
Persons: Israel, amputees, , , Ruwaida Issa, Khan Younis, Nasser, Scott Anderson, Abed Rahim Khatib, Abu, ” Mary Al Sammouna, ” Samir Tafesh, Tal, Philippe Lazzarini, Antonio Guterres, Guterres, Benjamin Netanyahu –, , Mohammed Deif, Deif, Netanyahu Organizations: CNN, United Nations, UN, Gaza Health Ministry, UNRWA Affairs, Anadolu, Getty, UNRWA, Gaza Ministry, Health, Civil Defense, Humanitarian Affairs, Al, Israel’s Locations: Gaza, Khan, Israel, Al, Deir, Nuseirat, Gaza City
The Israeli military said this week that it had concluded its operation there. Palestinians returning to Shajaiye, after heeding a call by Israel to evacuate, said the neighborhood was so devastated it was uninhabitable. “The current situation in Shajaiye today is tragic,” said Ahmed Sidu, a photographer, who went back to his home as soon as he heard that Israeli forces had pulled out. Palestinian Civil Defense said on Friday that their crews began recovering bodies from Tal Al-Hawa and the Al-Sinaa neighborhoods, as they said the Israeli forces appeared to be leaving those areas as well. The Israeli military did not confirm its forces were also pulling out of those areas.
Persons: , Ahmed Sidu, Hamas’s, Ayman Showadeh, Showadeh, Karam Hassan, ” Mr, Hassan, Mr, Sidu, Tal, Tal Al, , Juliette Touma, Rawan Sheikh Ahmad Organizations: Hamas, Palestinian Civil Defense, Credit, Agence France, United Nations, UNRWA, Troops Locations: Shajaiye, Gaza City, Israel, Gaza, Al, Rimal
Emergency crews recovered 50 to 60 bodies in the Tal al-Hawa neighborhood in the west of Gaza City, according to Gaza’s Civil Defense. “There is unprecedented destruction of infrastructure and vital facilities in the Shujaya… and Tal al-Hawa areas,” Al-Nabih told CNN. Israeli strikes in Gaza have since killed 38,345 Palestinians and injured another 88,295 people, according to the Ministry of Health there. “I don’t know what crime civilians did to deserve this,” one resident, Tareq Ghanem, told CNN on Friday. The mother told CNN she was desperate to return home for the wellbeing of her children.
Persons: Tal, Mahmoud Basal, Asem, ” Al, Nabih, Omar Al, Tareq Ghanem, , , Umm Ihab Arafat, Tal Al Organizations: CNN, Civil Defense, Getty, UN, Hamas, Ministry of Health, Al, Sina’a, Israel Defense Forces Locations: Gaza, Gaza City, Shujaya, Tal al, Al, AFP, Israel, , Beit Hanoun, Rafah
AdvertisementThe announcement caps a dizzying fall from the pinnacle of the residential real estate business for both Tal and his brokerage partner and brother Oren Alexander amid sordid allegations. Tal and Oren spent more than a decade at the brokerage firm Douglas Elliman, establishing themselves as big-name sellers of ultra-pricey homes. In 2022, the pair broke off from Elliman and cofounded Official Partners, a firm that focuses exclusively on the uppermost tier of the residential sales market. She also said that the decision to step aside was mutually made by Tal and Official. "Given the salacious nature of this false allegation and impact on Official, Tal and his partners have decided he will take a leave from the company," Deanna Paul, the attorney, said.
Persons: , Tal Alexander, America's, Alexander, Deanna Paul, Tal, Paul, Oren Alexander, Oren, Douglas Elliman, Ken Griffin, Alon Alexander, Alon, Nicole Oge, Oge, Angelica Parker Organizations: Service, Business, Partners Locations: New York, Manhattan, Elliman, New York State
“I know the person who planned and conceived and initiated this criminal attack,” Bitton told CNN’s Christiane Amanpour. Bitton blames Sinwar for the murder of his nephew, who was killed after Hamas militants raided his home on October 7. In 1989, he was sentenced to four life sentences in Israel for the abduction and killing of two Israeli soldiers. Nir Oz was one of several kibbutzim that bore the brunt of Hamas’ attack on October 7, with many residents murdered or taken hostage. He doesn’t care.”With this in mind, Bitton believes that Israel made a mistake by not creating an alternative to Hamas’s rule, which could have undermined Sinwar’s power.
Persons: CNN — Hamas’s, Israel, Yuval Bitton, , ” Bitton, CNN’s Christiane Amanpour, , – Yahya Sinwar, Bitton, Sinwar, Tamir Adar, Yuval Bitton “, ” Sinwar, Khan, , Gilad Shalit, Gilad, Nir Oz, Tamir, Bitton –, Bitton's Organizations: CNN, Hamas, Israel, IDF Locations: Gaza, Nafha, Israel
Read previewA woman has accused star real estate broker Tal Alexander and his brother Alon of raping her at a Manhattan apartment in 2012. Earlier this year, two other women filed separate lawsuits accusing Alon and a third brother, Oren Alexander, of rape. Tal and Oren Alexander cofounded the luxury real-estate brokerage Official. An attorney for Tal Alexander did not immediately return an email Tuesday seeking comment on the allegation. They also developed a reputation in the brokerage business for their aggressive approach in courting wealthy clientele and elbowing other brokers out of transactions.
Persons: , Tal Alexander, Alon, Oren Alexander, Angelica Parker, Tal, Oren, Parker, vaginally, Sean Zanni, Patrick McMullan, Isabelle Kirshner, Kirshner, Michael Willemin, Angelica, Willemin, Douglas Elliman, Rebecca Mandel, Kate Whiteman, Evan Torgan, Mandel, Whiteman, everyone's, they'll, it'll Organizations: Service, Business, Partners, Hamptons Locations: Manhattan, New York, SoHo, NY
CNN —Eight Israeli soldiers were killed in southern Gaza on Saturday, the Israel Defense Forces says, in one of the deadliest single incidents involving its troops since October 7. Ahmed Radwan, the media officer of Rafah Civil Defense, said they had received appeals to collect bodies and the injured but it was difficult for civil defense crews to access the area. Elsewhere, at least 14 people were killed, including seven children, in Israeli strikes on central Gaza, the Civil Defense Directorate in Gaza said. The conflict in Gaza began after the Hamas attacks of October 7, which killed around 1,200 people. Since then at least 37,296 people have been killed in Israel’s offensive in Gaza, according to the latest figures from the Ministry of Health in Gaza.
Persons: Al Qassam, , Israel Katz, , Ahmed Radwan Organizations: CNN, Israel Defense Forces, IDF, Al, Al Qassam Brigades, Rafah Civil Defense, Hamas, Civil Defense, Ministry of Health Locations: Gaza, Tal al, Rafah, , Israel
CNN —The Israeli military rescued four hostages in a special operation in the Nuseirat refugee camp, central Gaza, that Gazan authorities said killed 236 people and injured more than 400 others. An Israeli policeman from a special counter-terrorism unit was killed in Saturday’s rescue operation, according to Israeli police. At least 236 people have been killed as a result of the rescue operation and more than 400 injured, hospital officials in Gaza said Saturday. The killed and wounded were taken to two hospitals in Gaza, Al-Awda Hospital in Nuseirat and Al-Aqsa Martyrs Hospital in Deir Al-Balah. An Israeli military spokesperson put the number of casualties from the operation at “under 100,” and had no information on how many of those were civilians.
Persons: Noa Argamani, Almog Meir Jan, Andrey Kozlov, Shlomi Ziv, , Dr Marwan Abu Nasser, Balah, Daniel Hagari, Argamani, Hagari, ” Hagari, Nidal Abdo, , Abu Abdallah, , Ismail Haniyeh, ” Abu Obaida, Al, Ori Megidish, Fernando Marman, Louis Har, Isaac Herzog, Avinatan, Liora Argamani, Noa, Joe Biden, Argamani’s, Benjamin Netanyahu, – Almog Meir Jan, Yehuda, – Shlomi Ziv, Ziv, Miren, – Andrey Kozlov, ” Orit Meir, ” Meir, Jennifer Master, ” Yaakov Argamani, ” Rozi Ziv Organizations: CNN, Israel Defense Forces, Nova, HaShomer Medical Center, Awda, Aqsa Martyrs Hospital, Aqsa, Palestinian, Hamas, IDF, Brigades, Presidential Press, Reuters, Ichilov, Israeli Locations: Gaza, Nuseirat, ’ Tel, Al, Aqsa, Deir Al, Deir al, Israeli, , Israel, Rafah, Chinese, Tel Aviv, Russian
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAhead of Israel's assault on Rafah, President Joe Biden issued several stark warnings to Israeli Prime Minister Benjamin Netanyahu. A $1 billion arms dealThe statement suggests Biden will continue to move forward with a $1 billion weapons package to Israel. As BI previously reported, the weapons deal could be seen as an attempt to heal Biden's relationship with Netanyahu and to halt accusations that the US is emboldening Iran. For instance, Biden previously withheld a shipment of bombs before announcing that the planned weapons deal would go ahead.
Persons: , Joe Biden, Benjamin Netanyahu, Biden, Netanyahu, BRENDAN SMIALOWSKI, Matt Miller, Sen, Chris Van Hollen, Andrew Payne, Payne, Dave Harden Organizations: Service, CNN, Business, MSNBC, Gaza Health Ministry, IDF, Associated Press, State Department, Wall Street Journal, Getty, Washington Post, City University of London, Trump ., US Agency for International Development, West Bank, BBC Locations: Rafah, Israel, Gaza, Tal al, Anadolu, Iran
CNN —The war in Gaza will likely continue through at least the end of the year, an Israeli official warned Wednesday, seeming to dismiss the idea that fighting would end after the military offensive against Hamas in Rafah. Israel’s national security adviser, Tzachi Hanegbi, said the year 2024 has been “defined as a year of combat” by Israel’s war cabinet. The Israeli government had previously signaled that entering Rafah would be the final stage of its war against Hamas, which attacked Israel on October 7, killing about 1,200 people and taking some 250 people hostage. In response, Israel launched a devastating offensive in Gaza which has killed more than 36,000 people, according to Palestinian officials. This resilience is what has allowed this nation to survive for 75 years, and even for 3,000 years before that.
Persons: Tzachi Hanegbi, , ” Hanegbi, , Benjamin Netanyahu’s, Netanyahu, , Hanegbi, , Tal, Joe Biden Organizations: CNN, Hamas, Islamic, Sunday, Reuters, International Court of Justice Locations: Gaza, Rafah, Israel, Reuters Israel, United States,
CNN —Israel’s attack in the southern Gaza city of Rafah has expanded from airstrikes to ground operations, new satellite images obtained by CNN from Planet Labs show. Satellite images suggest these strikes are continuing, with one picture showing smoke still rising from one location. Palestinians arrive at Al Kuwaiti Hospital in Rafah, Gaza, after Israeli air strikes on May 8. Planet Labs, PBC Satellite images from May 6 and May 7 show damage in Rafah, Gaza. Planet Labs, PBC Satellite images show Rafah, Gaza, before and during an airstrike.
Persons: CNN —, Israel, Tal, Benjamin Netanyahu, Gazans, , Jens Laerke Organizations: CNN, Planet Labs, Israel Defense Forces, IDF, Al Kuwaiti, Al, PBC, , 401st Brigade Combat, Hamas, Food Locations: Gaza, Rafah, Egypt, Al Kuwaiti, Tal Al Sultan, , Geneva . Northern Gaza
Explosions occurred at a military base south of Baghdad in Iraq, according to reports. The base is used by Harakat al Nujaba, an Iran-backed group, according to The New York Times. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementExplosions occurred at a military base in Iraq early on Saturday, according to multiple reports. The base, located south of Baghdad, is used by Harakat al Nujaba, an Iran-backed group, according to The New York Times.
Persons: Harakat al, Organizations: The New York Times, Iran, Service, CNN, Times, Business Locations: Baghdad, Iraq, Iran, Iraqi
A growing number of children in Gaza are dying from dehydration and malnutrition amid desperate conditions due to Israel’s throttling of aid and destruction of the besieged enclave, reinforcing the urgency of this week’s ceasefire talks. In northern Gaza, children are starving to death and others fighting for their lives as critical supplies are held up from reaching those in need. A Palestinian Ministry of Health spokesperson said Sunday the number of children who have died of dehydration and malnutrition in northern Gaza has risen to 15. CNN cannot independently confirm the deaths of the children or their causes due to the lack of international media access to wartime Gaza. The death toll has been rising since last week when incubators and oxygen supplies at Kamal Adwan Hospital ceased to operate at night because of fuel shortages, the ministry said.
Persons: Kamal Adwan, Dr, Ashraf Al Organizations: Palestinian Ministry of Health, CNN, Kamal Locations: Gaza
However, a high-ranking Hamas official did not immediately respond to a CNN question about whether the militant group had responded to Israel’s conditions. Children starving to deathIn northern Gaza, children are starving to death and others fighting for their lives as critical supplies are held up from reaching those in need. One recent incident exposed the particularly desperate situation in northern Gaza. “Humanitarian aid agencies like UNICEF must be enabled to reverse the humanitarian crisis, prevent a famine, and save children’s lives,” UNICEF’s Adele Khodr said in a statement Sunday. UNICEF said it was aware of at least 10 children dying due to dehydration and malnutrition in recent days at Kamal Adwan Hospital in northern Gaza.
Persons: Israel, Kamala Harris, , ” Harris, Harris, Benny Gantz, Kamal Adwan, Dr, Ashraf Al, ” UNICEF’s Adele Khodr, Khodr Organizations: CNN, Hamas, Nations, Crisis, Palestinian Ministry of Health, Kamal, UN, United Nations, UNICEF Locations: Gaza, Cairo, Israel, United States, Washington
CNN —A 5-year-old Palestinian girl who was trapped in a car with her dead relatives after it came under Israeli fire in Gaza last month has been found dead. “The occupation deliberately targeted the Red Crescent crew despite obtaining prior coordination to allow the ambulance to reach the location to rescue the girl Hind,” read the statement. Soon after the incident, CNN gave the Israeli military details about the incident last Friday, including coordinates provided by the Palestine Red Crescent Society. We’re in the car, the tank is right next to us,” Layan screams, amid intense gunfire in the background. Alone, terrified and trapped in the car with the bodies of her relatives around her, Hind made a desperate call for help.
Persons: Hind Rajab, Tal Al, Khader Al Za’anoun, PRCS, Hind, , Hamadeh, ” Layan, Layan, , Wissam Hamada Organizations: CNN, Palestine Red Crescent Society, Israeli Army, Red Crescent, Israel Defense Forces Locations: Gaza, Palestine, Gaza City, Palestinian
United Airlines' shares got a premarket lift following an upgrade at Evercore, and Bank of America dropped its price target on Expedia. He raised the price target to $300 from $225, which implies shares could gain 14.6% from Thursday's close. He also lowered his price target to $181 from $156, which implies 13.5% upside potential from Thursday's close. ET United Airlines shares could surge 56%, according to Evercore Evercore upgraded shares of United Airlines to outperform from in-line. He reiterated his $48 price target on shares, which suggests around 18% upside from the stock's closing price on Thursday.
Persons: Pinterest, Morgan Stanley, TransDigm, CyberArk, Tal Liani, Liani, Kim, Justin, Post, Expedia, — Hakyung Kim, Goldman Sachs, Kate McShane, Gary Millerchip's, McShane, Evercore Evercore, Duane Pfennigwerth, Pfennigwerth, Morgan Stanley's, Kristine Liwag, Liwag, there's, LBTY, Georgios Ierodiaconou, Ierodiaconou, Stephen Ju, Ju, Goldman, Eric Sheridan, . Bank of America's Justin Post Organizations: CNBC, Citi, Liberty Global, United Airlines, Bank of America, Bank of America's, Palo, Costco, Incoming, Kroger, Liberty, Wall Street's, UBS, Pinterest, Google, . Bank of America's, Post Locations: underappreciated, Thursday's, Wall
Scientists have said carbon removal is needed to keep climate goals alive. Otherwise, the enormous price tag for world-scale carbon removal would need to fall to governments if there is any chance of these projects surviving. A major concern is that DAC technology is both expensive and unproven at scale. More mature carbon capture and storage (CCS) technology, which traps emissions at a point source like a smokestack, also requires a rapid scale up to make a difference. Their money will be made instead by marketing carbon removal credits to corporations not involved in fossil fuels that wish to offset unavoidable emissions, or to governments seeking to stay on track with climate targets.
Persons: Climeworks, , Vikrum Aiyer, Sultan al, Jaber, Vicki Hollub, Mike Avery, Christoph Gebald, Richard Valdmanis, Marguerita Choy Organizations: Reuters, REUTERS, Occidental Petroleum, BlackRock, U.S ., Occidental, 28th United, OPEC, United Arab, International Energy Agency, IEA, Global CCS Institute, Stratos, DAC, Department of Energy, Thomson Locations: Tracy , California, Texas, In Louisiana, 28th United Nations, Dubai, United Arab Emirates, Louisiana, Iceland, California, U.S, UAE, Occidental
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