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NEW YORK/LONDON, June 1 (Reuters) - A bill backed by debt justice campaigners and civil society groups advocating on behalf of economically distressed countries could alter past and future sovereign debt restructurings covered by New York state law - and Wall Street is watching. Senate Bill S4747, the NY Taxpayer and International Debt Crises Protection Act, "relates to New York state's support of international debt relief initiatives for certain developing countries." The initiative has so far failed to accelerate debt relief talks, while private creditors are not even formally included in this initiative. It would "bring badly needed improvements to the framework for resolving unsustainable sovereign debt burdens," according to Nobel Prize-winning U.S. economist Joseph Stiglitz. If this bill passes, "I would recommend issuers not go through New York law, (but) through London or any other jurisdiction," said Rodrigo Olivares-Caminal, professor of banking and finance law at Queen Mary University of London.

Persons: Bill S4747, Alexander Flood, Patricia Fahy, Kathy Hochul, Joseph Stiglitz, Rishikesh Ram Bhandary, THE BILL, Rodrigo Olivares, Caminal, Rodrigo Campos, Jorgelina, Karin Strohecker, Aurora Ellis Organizations: NY Taxpayer, Senate, Institute of International Finance, Paris Club, China, WHO, Economic, Initiative, Boston, Global, Policy, THE, Queen Mary University of London, Thomson Locations: New York, United States, Ukraine, Sri Lanka, Zambia, Rishikesh, London, Paris, Brazil, Argentina, Rosario

But some researchers and environmental groups - supported by companies claiming to be able to help solve the problem - say airlines have done too little to handle the issue. According to such experts, research shows that non-CO2 emissions can actually be more harmful than carbon emissions. New European Union rules on emissions trading that will come into force in 2025 will force airlines to track and report their non-C02 emissions. Airlines have pledged to reach net-zero carbon emissions by 2050, mainly by adopting Sustainable Aviation Fuel (SAF), scarce alternative fuels made from renewable sources - like biofuels or synthetic fuels - that are used to power aircraft. Based in Cambridge, England, SATAVIA says that by focusing so heavily on carbon emissions, the industry will be paying more money for a solution that could take years to have an impact.

Persons: Roger Teoh, SATAVIA, Adam Durant, Padraic Halpin, Tim Hepher, Aurora Ellis Organizations: International Air Transport Association, Imperial College London, New, Union, Airlines, Sustainable Aviation Fuel, Reuters, Thomson Locations: Istanbul, Paris, contrails, Cambridge, England

☆ UK's ITV commissions review after presenter resignation row
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +1 min

LONDON, May 31 (Reuters) - British broadcaster ITV (ITV.L) has commissioned an external review of presenter Phillip Schofield's resignation, the company said on Wednesday, after the 61-year-old admitted to lying about a relationship with a young worker. The probe was first reported by PA Media on Wednesday. "As you would expect we take the matter extremely seriously and have reviewed our own records over the weekend," a letter sent by McCall to government said, PA Media reported. The letter was sent to Ofcom, the broadcast regulator, and culture minister Lucy Frazer, PA Media reported. It said ITV had instructed a senior barrister to "carry out an external review to establish the facts".

Persons: Phillip Schofield's, Schofield, Carolyn McCall, McCall, Lucy Frazer, Paul Sandle, William James, Aurora Ellis Organizations: ITV, PA Media, Britain's, Ofcom, Thomson Locations: British, Britain

☆ Cramer on why investors should 'enjoy AI' while CEOs figure out how to use it
▼ + stars: | 2023-05-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Firstly, artificial intelligence (AI) is by far the most important topic of conversation regardless of the forum or the party. Every company's CEO is ripping through the org chart, frantically trying to figure out how to use AI for creativity and profit. CEO Nikesh Aurora is using AI to find out who simply isn't necessary, or who can't do the job as well as the machines. Ultimately, my reflection when it comes to the Club is to continue to try to profit from the AI arms race. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ A sunspot four times the size of Earth is visible right now — here's how to see it without a telescope
▼ + stars: | 2023-05-23 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +4 min

A sunspot four times the size of the Earth is crossing the sun right now. "A giant sunspot is crossing the sun's disk, and I could see it clearly with solar glasses," said Yeom, per spaceweather.com, adding: "Caution! The sun is gearing up to a peak of activityA video of the sun taken on May 18 shows a powerful solar flare being released. SDO/NASAExperts have been keeping a watchful eye on this particular sunspot, called AR3310, while it is facing the Earth. As this one rolled around the side of the sun, it let off a substantial solar flare, a giant explosion that sends energy, light, and high-speed particles into space.

☆ Intel gives details on future AI chips as it shifts strategy
▼ + stars: | 2023-05-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +2 min

May 22 (Reuters) - Intel Corp (INTC.O) on Monday provided a handful of new details on a chip for artificial intelligence (AI) computing it plans to introduce in 2025 as it shifts strategy to compete against Nvidia Corp (NVDA.O) and Advanced Micro Devices Inc (AMD.O). At a supercomputing conference in Germany on Monday, Intel said its forthcoming "Falcon Shores" chip will have 288 gigabytes of memory and support 8-bit floating point computation. Intel, by contrast, has essentially no market share after its would-be Nvidia competitor, a chip called Ponte Vecchio, suffered years of delays. Intel on Monday said it has nearly completed shipments for Argonne National Lab's Aurora supercomputer based on Ponte Vecchio, which Intel claims has better performance than Nvidia's latest AI chip, the H100. But Intel's Falcon Shores follow-on chip won't be to market until 2025, when Nvidia will likely have another chip of its own out.

The TV series, an action-comedy-drama combination, is based on the 2006 graphic novel of the same name by Gene Luen Yang and premieres on Disney+ streaming service on Wednesday. He changed his mind, however, after being reassured by show producer Melvin Mar and series creator, Kevin Yu, and seeing the dedication of the Asian-led cast. The TV series follows high school student Jin Wang, played by Ben Wang, who struggles with his identity as he navigates both school and home life. “American Born Chinese” draws from Chinese folklore and Chinese and Japanese animation that is based on the 6th century Chinese novel “Journey to the West.”Beyond the kung fu action story, the show focuses on the challenges of Jin understanding his Chinese and American identities, while also going through the tribulations of being a teenager. "So, you feel really impotent, really powerless,”Reporting by Danielle Broadway and Rollo Ross Editing by Mary Milliken, Marguerita Choy and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Warner Bros Discovery chief booed at Boston University graduation, videos show
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

May 21 (Reuters) - Warner Bros Discovery chief executive David Zaslav was booed by students after taking the stage at Boston University to accept his honorary degree and give the 2023 commencement speech, amid an ongoing strike by film and television writers over pay, videos that surfaced on social media show. Boston University did not immediately respond to a Reuters request for comment. Zaslav, who is an alumni of the school, was repeatedly disrupted by angry chants and boos from Boston University students, including cries of “we don’t want you here” and “pay your writers”, the report said. The Writers Guild of America had earlier said they would be picketing the ceremony when Boston University announced Zaslav would be giving the commencement speech at the graduation, the report added. The writers' strike has disrupted production of late-night shows and some TV series, but some filming is continuing.

☆ Magnitude 5.5 earthquake strikes offshore Northern California region
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: 1 min

May 21 (Reuters) - An earthquake measuring 5.5 magnitude struck offshore Northern California on Sunday, the European Mediterranean Seismological Centre (EMSC) said. The quake was at a depth of 2km (1.24 miles), EMSC said. Reporting by Urvi Dugar in Bengaluru; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Magnitude 5.5 earthquake strikes offshore northern California region
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: 1 min

May 21 (Reuters) - An earthquake measuring 5.5 magnitude struck off the northern California shore on Sunday, according to the U.S. Geological Survey (USGS), causing no reported damage or injuries. The USGS said the quake occurred at a depth of 10km (6 miles) and took place 108 km (67 miles) west of Petrolia, a community of about 1,000 people in rural Humboldt County. A handful of other towns in the sparsely populated region of northern California also reported feeling light shaking, according to the USGS. The last fatal temblor in the state was a magnitude 6.4 earthquake that hit Northern California only 5 km (3 miles) offshore in December, injuring at least a dozen people and killing two. Reporting by Urvi Dugar in Bengaluru; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Stunning photos of the night sky in one of the darkest places on Earth will make you want to visit New Zealand ASAP
▼ + stars: | 2023-05-20 | by ( Rebecca Strong | ) www.businessinsider.com time to read: +9 min

The Aoraki Mackenzie International Dark Sky Reserve is especially great for star gazing. But in one of the darkest places on Earth — the Aoraki Mackenzie International Dark Sky Reserve in New Zealand — that's not an issue. Aoraki is the second-largest dark sky reserve in the world, ranking at a level 2 on the nine-level Bortle Dark-Sky Scale for light pollution. The Aoraki Mackenzie International Dark Sky Reserve is located in southern New Zealand. Igor HoogerwerfAccording to Jason Menard, an executive at Mackenzie Tourism, The Aoraki Mackenzie International Dark Sky Reserve is one of the best places to view the Milky Way — and that's pretty evident in this photo.

HOUSTON, May 19 (Reuters) - An attorney representing the family of a 55-year-old Marathon Petroleum (MPC.N) refinery worker killed in a fire at the Texas facility this week called the plant where he worked "dangerous" on Friday. Higgins family plans to file a gross negligence lawsuit against the oil refiner and other firms involved in the plant's maintenance, he said. Buzbee is seeking documents on the plant and maintenance, according to court filings. "Scott always thought he might die at that plant," Buzbee said. And the reason he talked to them about it is because that plant is very dangerous," Buzbee said.

☆ Italy's Emilia-Romagna governor says earthquake 'lessons' to help flood recovery
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

[1/5] A view of a submerged sculpture due to floodwaters after heavy rains hit Italy's Emilia Romagna region, in Lugo, Italy, May 19, 2023. REUTERS/Claudia GrecoMILAN, May 19 (Reuters) - Italy's Emilia Romagna region will recover from the devastating floods that hit this week by taking from lessons learned from the 2012 earthquake, its governor said Friday, as the death toll from the disaster rose to 14. "Nothing will stop", the governor told reporters, referring to business, tourism and other activities in the wealthy northern region. Reuters video footage from the town of Lugo in Emilia-Romagna showed cars submerged in water and flooded homes, as some residents rode bicycles or paddled through the watery streets. Heavy rains followed months of drought which had dried out the land, reducing its capacity to absorb water, meteorologists said.

☆ U.S. Midwest grid operator flags urgent need for market reforms
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

The reforms are needed "to maintain reliability and send the right pricing signals to the market," said Clair Moeller, president and CEO at Midcontinent Independent System Operator (MISO). For the zone which covers most of Louisiana and southeast Texas, the clearing prices for fall and winter were $59/MW-day and $19/MW-day, respectively. Market participants who postpone the retirement of resources and import additional capacity this year may not be able to repeat those measures in the future, said Moeller. "We continue to see uncertainty and volatility in the auction results year-over-year, and managing the system in real-time is becoming more challenging," Moeller added. Reporting by Deep Vakil in Bengaluru; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

He said there are no statistics available showing more people are committing violent offences while on bail. The bill introduced this week comes after multiple high-profile violent crimes that police allege were committed by people on bail, including the killing of a police officer late last year. The bill needs to be passed in Parliament, where the governing Liberals have a minority and require support of another party. People jailed awaiting trial may feel pressured to plead guilty to get out of jail sooner, Brown said. "We just need to hold those accountable when they fail to do their jobs as bail supervisors or when people fail to abide by their bail terms."

Buenos Aires wants faster payouts and easier economic targets. "More than a debt, it's a crime," President Fernandez wrote in a tweet on Thursday, citing a new government auditor report that concluded the original deal had lacked the required impact study and not passed through proper legislative channels. Fernandez, who has criticized the original deal before, called for an investigation "with all the weight of the law." Powerful but divisive Vice President Cristina Fernandez de Kirchner, a previous two-term president, called the original deal "scandalous" and a "scam" of the Argentine people. Macri and the IMF have defended the original deal as necessary to restore Argentina's economic stability.

If Biden and McCarthy reach a deal, possibly as soon as Sunday, Congress could struggle to get enough votes for passage ahead of a June. Liberal Democrats, including Senator Raphael Warnock and Representative Ro Khanna, put Biden on notice that they do not support more stringent requirements to existing law. Republicans have called for saving $120 billion by expanding work requirements to qualify for food aid, monetary help for poor families and other assistance. Warnock accused Republicans of "using poor people as pawns" in negotiations, saying their proposal "presupposes that poor people are in some way morally deficient. The Republican-controlled House Ways and Means Committee describes the steps as "common-sense work requirements to help lift families out of poverty and revitalize the American workforce."

May 17 (Reuters) - A group of Republican-led U.S. states has asked a federal judge in Texas to strike down a Biden administration rule allowing socially conscious investing by retirement plans, saying it will imperil Americans' retirement savings. The rule, which took effect Jan. 30, sets guidelines for ESG investing including requiring that socially conscious investments are still financially sound. The states sued in January and in February had asked the judge to temporarily block the rule pending the outcome of the case. The judge has not yet ruled on that bid, and in Tuesday's filing, the states asked the judge to rule on the merits of their lawsuit. Kacsmaryk in March refused to transfer the challenge to the ESG investing rule to another court.

☆ U.S. considers new land swap deal in Alaska wildlife refuge
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +1 min

Interior Department will review the environmental impacts of a possible land swap deal that would allow a new road to cut through an Alaska wildlife refuge, it said on Wednesday. In a notice published in the Federal Register, Interior said it would consider an exchange that would allow for a road corridor for noncommercial use through the Izembek National Wildlife Refuge and the Izembek Wilderness Area. Environmentalists have said a road would destroy valuable habitat for birds along Kinzarof Lagoon, and would set a dangerous precedent for other wildlife refuges. The deal set by former President Donald Trump's administration was controversial because it left open the door to commercial use of the road. Interior's Fish and Wildlife Service will accept public comments on the analysis for 30 days.

☆ Ecuador assembly begins impeachment hearing against President Lasso
▼ + stars: | 2023-05-16 | by ( Alexandra Valencia | ) www.reuters.com time to read: +3 min

QUITO, May 16 (Reuters) - Ecuador's National Assembly on Tuesday began an impeachment hearing against President Guillermo Lasso, who could be removed from his post, though the process increases the likelihood he will dissolve the legislature to avoid a final vote. The opposition, including members of the party of ex-President Rafael Correa - himself accused of corruption - has been invigorated following the re-election of Virgilio Saquicela as president of the National Assembly on Sunday. "The Ecuadorean people want Guillermo Lasso (...) to go home," said opposition lawmaker Viviana Veloz while presenting a motion to vote on the censure and dismissal of the president. CONAIE, Ecuador's largest indigenous organization, backed the measure to remove Lasso in a statement, saying that "with Guillermo Lasso Ecuador doesn't have a future, only fear and uncertainty." The assembly voted to continue with the impeachment process last Tuesday with 88 votes in favor out of 116 legislators present.

☆ Marijuana harms development in first trimester of pregnancy
▼ + stars: | 2023-05-16 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

“Low birth weight is one of the strongest predictors of a child’s health and development long-term,” she said. “What we are telling women is that it’s not an absolute certainty that your baby’s growth will be impacted if you are using marijuana. “My advice to women is to avoid using marijuana at all during pregnancy and if possible stop using prior to becoming pregnant,” Bailey said. Marijuana use can harm fetal development in the first trimester, a time when many people may not know they are pregnant. Prior research has “pretty well established” that smoking cigarettes during pregnancy has a bigger impact on birth weight than exposure to marijuana,” Bailey said.

☆ Six dead in New Zealand hostel fire
▼ + stars: | 2023-05-15 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

[1/3] Fire and emergency crews work at the scene of a fire at the Loafers Lodge, in Wellington, New Zealand May 16, 2023. REUTERS/Lucy CraymerWELLINGTON, May 16 (Reuters) - A fire at a hostel in New Zealand killed at least six people on Tuesday and officials said they believe the toll could rise with 11 people still missing. The blaze broke out on the top floor of Loafers Lodge in the Wellington neighbourhood of Newtown just after midnight, police said. "It was just scary, it was really scary, but I knew I had to jump out the window or just burn inside the building," he told state-owned Radio New Zealand. Investigations into what caused the fire are under way, according to Fire and Emergency New Zealand (FENZ).

☆ Faced with tougher U.S. policy, migrants in Mexico pin hopes on asylum app
▼ + stars: | 2023-05-12 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +4 min

[1/6] Migrants seeking asylum in the U.S., gather on the Matamoros-Brownsville International Border bridge, in Matamoros, Mexico May 12, 2023. Now, she is trying another way she hopes will be easier: the U.S. asylum app. "It's much better," Silva said on Thursday at the border, scrolling through a WhatsApp chat with tips about the app known as CBP One. Under the COVID-era order, U.S. officials could immediately expel migrants back to Mexico, blocking them from requesting asylum. Alongside her, two young men from Venezuela said they were also going to seek asylum appointments on the CBP One app.

SAN FRANCISCO/TOKYO, May 10 (Reuters) - Panasonic (6752.T) said on Wednesday that it will delay the commercial production of its 4680 battery cells championed by Tesla CEO Elon Musk and begin operations during the April to September period in 2024, later than previously scheduled, as the company aims to improve their performance. Tesla's Japanese supplier, Panasonic, previously planned to start volume production for Tesla between April 2023 to March 2024. Panasonic is running a pilot 4680 production line at its Wakayama factory in Japan, while Tesla (TSLA.O) is already producing the 4680 battery cells, which Musk has touted as being key to making cheaper and compelling electric cars. But the carmaker struggled to meet its targets for production and performance of the cells. Tesla executive Drew Baglino said at a recent conference call that the company plans to steadily ramp production of 4680 battery cells ahead of Cybertruck production next year.

[1/2] A woman checks the arrivals and departures board at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. REUTERS/Jim Vondruska/File PhotoNEW YORK, May 10 (Reuters) - A gloomy forecast from vacation rental firm Airbnb (ABNB.O) weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb's forecast will heighten caution in the travel sector, which encompasses hotels, airlines, and vacation rental firms, according to an investor note by JPMorgan analysts, led by Doug Anmuth. "We also believe Airbnb's commentary will result in increased caution in the travel space, but more specifically around vacation and the U.S.," the analysts said. Reporting by Chibuike Oguh in New York; Editing by Lance Tupper and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

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