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☆ ‘Entering the clean power era’: Wind and solar generated a record amount of global power in 2022
▼ + stars: | 2023-04-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +3 min

The analysis published Wednesday by independent climate think tank Ember found that 12% of the world's power came from solar and wind in 2022, up from 10% of global electricity generation in 2021. Wiatros-Motyka added, "A new era of falling fossil emissions means the coal power phasedown will happen, and the end of gas power growth is now within sight." It shows that more than 60 countries now generate over 10% of their electricity from wind and solar. Renewables and nuclear sources were collectively found to have accounted for 39% of global electricity generation in 2022 — in a new record high. Coal, the world's dirtiest fossil fuel, was found to be the single largest source of electricity worldwide last year, producing 36% of global power in 2022.

☆ NBA roundup: Warriors hang 157 on Blazers, glide into playoffs
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +12 min

Shaedon Sharpe added 18 points to go with a team-high seven rebounds, while Jeenathan Williams had 17 points for Portland. New Orleans' Brandon Ingram had 42 points and 12 rebounds, CJ McCollum scored 23 points and Trey Murphy III had 20. Lindell Wigginton scored 17 points and Bobby Portis had 16 for the Bucks. Jaden Hardy led all scorers with 25 points, with Theo Pinson forging a triple-double (23 points, 13 rebounds, 12 assists) for the Mavericks. De'Aaron Fox, who scored 13 points, played less than 18 minutes.

☆ NHL roundup: Connor McDavid hits 150 points in Oilers' win
▼ + stars: | 2023-04-09 | by ( ) www.reuters.com time to read: +12 min

Tomas Hertl scored, and James Reimer made 29 saves for the Sharks, who have lost seven straight against the Oilers. McDavid notched his 150th point when he scored with 1:44 left in the opening period for a 2-1 lead. Jesper Bratt scored the lone goal and MacKenzie Blackwood made 38 stops for the Devils, who had won back-to-back games. Avalanche 4, Kings 3Denis Malgin scored two goals for visiting Colorado in a win against Los Angeles. Alex Nylander, Danton Heinen and Evgeni Malkin each scored a goal and Tristan Jarry made 19 saves for the Penguins.

☆ A hidden time bomb? A 'Big Short' investor sees financial disaster brewing in housing markets
▼ + stars: | 2023-04-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +7 min

Josh Edelson | Afp | Getty ImagesMore than a decade after a U.S. mortgage meltdown threatened to destroy the international financial system, a "Big Short" investor once again sees financial disaster brewing in the real estate market. Now, Burt believes an overlooked climate risk could see history repeating itself. U.S. housing market overvalued? watch now"The biggest reason why it matters from our perspective is that climate risk isn't being priced into the housing market," Jeremy Porter, head of climate implications at First Street Foundation, told CNBC. 'A humanitarian crisis'Far from a domestic issue, Burt stressed the climate risks associated with the U.S. housing market posed a major problem for countries worldwide.

☆ Meta releases AI model that can identify items within images
▼ + stars: | 2023-04-05 | by ( Katie Paul | ) www.reuters.com time to read: +2 min

The company's research division said in a blog post that its Segment Anything Model, or SAM, could identify objects in images and videos even in cases where it had not encountered those items in its training. Using SAM, objects can be selected by clicking on them or writing text prompts. Examples include a tool that spins up surrealist videos from text prompts and another that generates children's book illustrations from prose. The SAM model and dataset will be available for download under a non-commercial license. Users uploading their own images to an accompanying prototype likewise must agree to use it only for research purposes.

☆ Virgin Orbit files for Chapter 11 bankruptcy protection in the U.S.
▼ + stars: | 2023-04-04 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Virgin Orbit on Tuesday filed for Chapter 11 bankruptcy protection in the U.S. after failing to secure a funding lifeline. The California-based satellite launch company lodged the filing in the U.S. Bankruptcy Court in the District of Delaware and is looking to sell its assets. Virgin Orbit said Virgin Investments would provide $31.6 million in new money through debtor-in-possession financing to help fund the process and protect its operations. Virgin Orbit developed a system that uses a modified 747 jet to send satellites into space by dropping a rocket from under the aircraft's wing mid-flight. Virgin Orbit is among a select few U.S. rocket companies to successfully achieve orbit with a privately developed launch vehicle.

☆ Finland's Sanna Marin, a global progressive icon, loses out on second term after right-wing surge
▼ + stars: | 2023-04-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Marin entered office as the world's youngest serving prime minister in 2019 at the age of 34. Marin entered office as the world's youngest serving prime minister in 2019 at the age of 34. However, after just one term as prime minister, Marin was pushed into third place by her right-wing political rivals. "Congratulations also to the other winners of the elections, congratulations to the Coalition Party and congratulations to the Finns Party. However, Finland's main conservative National Coalition Party, led by Petteri Orpo, came out on top with 20.8% of the vote, while the right-wing Finns Party received a record 20.1% share of the vote.

☆ Heavy rain brings flash flooding to Sydney, prompts rescues
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, April 2 (Reuters) - Heavy rain brought flash flooding to Australia's largest city Sydney on Sunday, prompting rescues and residents to sandbag houses, as authorities warned of bad weather ahead. A NSW State Emergency Service (SES) spokesperson told Reuters two people were pulled safely from cars that become stranded in floodwaters in Sydney's inner suburbs. "Don't walk drive or ride through floodwater," the SES spokesperson said. The nation's weather forecaster issued a severe thunderstorm warning for parts of Sydney on Sunday, forecasting heavy rain and possible flash flooding, and warned of more rain for the city this week. "That situation can change quickly so if people monitor the conditions and take heed of those warnings ... that would be excellent to keep people safe," the NSW SES spokesperson said.

☆ NHL roundup: Carter Verhaeghe nets career-best 4 goals in Panthers' win
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +9 min

Sabers 6, Flyers 3Alex Tuch scored his second career hat trick to help Buffalo to a win against host Philadelphia. Morgan Frost scored twice and Felix Sandstrom made 23 saves for the Flyers, who had their seven-game point streak snapped. Avalanche 5, Stars 2Nathan MacKinnon had two goals, Mikko Rantanen had a goal and three assists, and host Colorado beat Dallas. Ben Hutton, Zach Whitecloud and Brett Howden also notched goals for Vegas, which is 5-1-1 in its past seven games. J.J. Moser and Milos Kelemen scored for the Coyotes (27-37-13, 67 points), who have dropped seven straight games (0-5-2).

☆ Australian PM says inflation numbers 'pleasing' amid cost of living pressures
▼ + stars: | 2023-04-01 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, April 1 (Reuters) - Prime Minister Anthony Albanese said on Saturday he was pleased to see inflation retreating in Australia, but cautioned that cost of living pressures remained nationwide. "It was pleasing the results, the trend going in the right direction this week with the figures but we know cost of living pressures are there," Albanese told reporters in Melbourne. Inflation remained "a real issue" and "a global phenomenon", he said, campaigning alongside the Labor Party's candidate for the federal seat of Aston, in Victoria state, where a by-election was taking place. Amid persistent inflation, cost of living has become a key political issue, and was a focus of last weekend's election in New South Wales, the country's most populous state. It was won by Albanese's state Labor counterpart Chris Minns who campaigned in part on providing cost of living relief.

☆ EU agrees to ramp up 2030 renewable energy targets, accelerating shift from fossil fuels
▼ + stars: | 2023-03-30 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

The EU has pledged to wean itself off Russian fossil fuels by 2027 in response to President Vladimir Putin's full-scale invasion of Ukraine. The European Union is poised to ramp up its 2030 renewable energy targets, accelerating a shift away from fossil fuels as the bloc seeks to rapidly cut emissions and reduce its dependence on Russia. It is set to replace the EU's current renewable energies directive target for a 32% share of renewable energy by 2030, which has been in place since Dec. 2018. The EU has pledged to wean itself off Russian fossil fuels by 2027 in response to President Vladimir Putin's hostilities in Ukraine. The burning of fossil fuels such as coal, oil and gas, is the chief driver of the climate crisis.

☆ Private jet flights in Europe soar to record levels — and most were ultra-short journeys
▼ + stars: | 2023-03-30 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

A private jet is landing over the snowy mountains of St. Moritz in Switzerland. Private jet emissions, which have a disproportionate impact on the environment, were found to have more than doubled in Europe in 2022. Analysis published Thursday by environmental campaign group Greenpeace showed the number of private jet flights in Europe last year rose by a whopping 64% to reach a record high of 572,806. The analysis found that the countries with the most private jet flights in Europe last year were the U.K., France and Germany. The most popular destinations for private jet flights in Europe in 2022 were the French Riviera city of Nice, France's capital of Paris and Switzerland's second-most populous city of Geneva.

☆ Energy agency chief warns transition to renewables is way off track, issues warning on stranded assets
▼ + stars: | 2023-03-28 | by ( Sam Meredith | ) www.cnbc.com time to read: +1 min

The current German coalition government is seeking to accelerate the country's transition away from fossil fuels and nuclear to renewable and sustainable production energy means. The global energy transition is off track to prevent the worst impact of the climate emergency, according to the head of the International Renewable Energy Agency, and a fundamental course correction is required to successfully pivot away from fossil fuels. It is widely regarded as a crucial global target because so-called tipping points become more likely beyond this level of global heating. Tipping points are thresholds at which small changes can lead to dramatic shifts in Earth's entire life support system. "We are off track," Francesco La Camera, director general of IRENA, told CNBC's "Squawk Box Europe" on Tuesday.

☆ Bonds are back this year after one of their worst stretches ever
▼ + stars: | 2023-03-27 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Bonds are rebounding in 2023 following one of their worst years ever as the asset class reclaims its function as an effective hedge for stocks. "Bonds are acting like bonds again," said Gina Bolvin, president of Bolvin Wealth Management Group. What's more, because bonds tend to rally during a recession as benchmark rates decline, Devereux said she recommends focusing on high-quality fixed income including U.S. Treasurys, agency mortgage-backed securities and municipal bonds. Within fixed income, she also recommended investors stick to bonds with AAA or AA ratings, saying investors should look for risk in equities rather than lower-rated bonds. "While returns for stocks and bonds have been positive so far this year, that stocks and bonds are largely performing well at different times has made the ride smoother for investors," Bolvin said.

(Photo by HAZEM BADER / AFP) (Photo by HAZEM BADER/AFP via Getty Images)Israeli Prime Minister Benjamin Netanyahu on Monday agreed to suspend a planned judiciary reform until the next parliament session after nationwide protests paralyzed the country. Netanyahu agreed with one of his hard-right coalition partners, Itamar Ben-Gvir, that the judiciary overhaul bill would be given an extension to the next session to pass the reform through negotiations, NBC reported. As part of the agreement, a National Guard will be set up under Ben-Gvir's Ministry of National Security. The latest development indicates Netanyahu has not yet given up on the contentious reform bill, despite huge protests and widespread strikes. The prime minister — who is the longest-serving in Israel's history — was expected to announce a pause to the legislation on Monday, but the delivery of his statement was postponed three times, according to the Jerusalem Post.

☆ NHL roundup: Bruins lock down Atlantic Division title
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +11 min

Hathaway has scored three goals since joining the Bruins in late February, two of which have been go-ahead tallies. Linus Ullmark made 11 of his 26 saves in the third period, improving to 11-1-0 in his last 12 starts. For the Lightning, Victor Hedman scored the lone goal and Andrei Vasilevskiy was credited with 32 saves. Leon Draisaitl had a goal and an assist, and Zach Hyman and Warren Foegele also scored for Edmonton. Ottawa captain Brady Tkachuk scored his seventh goal in seven games and Mark Kastelic and defenseman Thomas Chabot also tallied.

☆ New Zealand raises concerns with China on South China Sea, Taiwan
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 25 (Reuters) - New Zealand Foreign Affairs Minister Nanaia Mahuta said on Saturday she had expressed concerns over the South China Sea and tensions in the Taiwan Strait during talks with her Chinese counterpart at the end of a visit to Beijing. "Nanaia Mahuta expressed concerns over developments in the South China Sea and increasing tensions in the Taiwan Strait," the foreign minister's statement said. New Zealand has consistently expressed concerns about the potential militarisation of the Pacific, amid China's military buildup in the South China Sea. China views democratically governed Taiwan as its own territory and has never renounced the option of using force to take the island under its control, and claims a large part of the South China Sea. She invited Qin to visit New Zealand, and also flagged a potential visit by New Zealand Prime Minister Chris Hipkins to China, perhaps this year.

☆ Labor Party takes power in 'fresh start' for Australia's biggest state
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 26 (Reuters) - The Australian Labor Party in New South Wales claimed power in a state election on Saturday, with voters backing the centre-left party's pledges on anti-privatisation and cost of living relief. "A huge congratulations to @ChrisMinnsMP ... and the whole NSW Labor team on your election victory," Albanese said on Twitter late on Saturday. Labor's win in New South Wales means the party now governs at state and federal level across Australia's mainland, leaving island state Tasmania as the conservative outlier. "After 12 years in opposition the people of New South Wales have voted for a fresh start," Minns told supporters in Sydney late on Saturday. "The people of New South Wales voted to put in a government that would put people at the heart of all decision-making".

☆ A 'greenwashing' crackdown in Europe hasn't gone down well. Here's what you need to know
▼ + stars: | 2023-03-24 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

The European Commission, the EU's executive arm, published its so-called "Green Claims Directive" on Wednesday. The highly anticipated proposal seeks to establish an EU-wide methodology that will help to clean up the environmental claims marketplace. Today, most green claims are too good to be true and the proposal is… far from the real (green) deal. The EU's "Green Claims Directive" seeks to tackle this trend. "Green claims are everywhere: ocean-friendly t-shirts, carbon-neutral bananas, bee-friendly juices, 100% CO2-compensated deliveries and so on," said Frans Timmermans, executive vice-president for the European Green Deal.

☆ Europe’s rush to LNG could turn into ‘world’s most expensive and unnecessary insurance policy'
▼ + stars: | 2023-03-23 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

The Golar Tundra project is a key part of Italy's plan to reduce its reliance on Russian gas following the invasion of Ukraine. Europe must carefully balance its gas and LNG systems, and avoid tipping the scale from reliability to redundancy. "This is the world's most expensive and unnecessary insurance policy," said Ana Maria Jaller-Makarewicz, energy analyst for IEEFA Europe and author of the analysis. "Europe must carefully balance its gas and LNG systems, and avoid tipping the scale from reliability to redundancy. Boosting Europe's LNG infrastructure will not necessarily increase reliability — there's a tangible risk that assets could become stranded," Jaller-Makarewicz said.

☆ NHL roundup: Alex Ovechkin hits 40 goals for record 13th time
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +10 min

Mandatory Credit: Brad Mills-USA TODAY SportsMarch 22 - On a night he was honored for passing one NHL legend, Washington's Alex Ovechkin made history by eclipsing another. Before the game, Ovechkin was honored in a 20-minute on-ice ceremony for passing Gordie Howe for second place on the all-time NHL goals list on Dec. 23. On Tuesday, Ovechkin scored his 40th goal of the season, passing Wayne Gretzky for the most 40-goal seasons in NHL history with his 13th. Barrett Hayton scored the lone goal for Arizona (27-33-11, 65 points), which saw its four-game winning streak come to an end. Alex Chiasson and Filip Zadina scored regulation goals for the Red Wings, who earned just their third victory in their last 13 games.

☆ 'A financial banana republic': UBS-Credit Suisse deal puts Switzerland's reputation on the line
▼ + stars: | 2023-03-21 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Fabrice Coffrini | Afp | Getty Imageswatch now"The Credit Suisse debacle will have serious ramifications for other Swiss financial institutions. A country-wide reputation with prudent financial management, sound regulatory oversight, and, frankly, for being somewhat dour and boring regarding investments, has been wiped away," Marenzi said. Credit Suisse traded up 3.5% during afternoon deals after ending Monday's session down a whopping 55%. Credit Suisse bond wipeoutUnder the terms of the emergency takeover, investors in Credit Suisse's additional tier-one bonds — widely regarded as a relatively risky investment — will see the value of their holdings slashed to zero. One euro was last seen trading at 0.9961 Swiss francs, weakening from 0.9810 when compared with March 14.

The logos of Swiss banks Credit Suisse and UBS on March 16, 2023 in Zurich, Switzerland. Credit Suisse shares collapsed by 60% at around 9:05 a.m. London time (5:05 a.m. Swiss authorities and regulators helped to facilitate the deal, announced Sunday, as Credit Suisse teetered on the brink. The size of Credit Suisse was a concern for the banking system, as was its global footprint given its multiple international subsidiaries. "This suggests that a substantial part of Credit Suisse's $570bn assets may be either impaired or perceived as being at risk of becoming impaired.

☆ World’s top climate scientists issue ‘survival guide for humanity,’ call for major course correction
▼ + stars: | 2023-03-20 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

The 1.5 degrees Celsius temperature threshold is widely recognized as crucial because so-called tipping points become more likely beyond this level. In short, our world needs climate action on all fronts — everything, everywhere, all at once. But it will take a quantum leap in climate action." He added, "In short, our world needs climate action on all fronts — everything, everywhere, all at once." "Climate justice is crucial because those who have contributed least to climate change are being disproportionately affected," said Aditi Mukherji, one of the 93 authors of this Synthesis Report.

☆ Australia did not vow to help US defend Taiwan in submarine deal -minister
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 19 (Reuters) - Australia "absolutely" did not promise to support the U.S. in any military conflict over Taiwan in return for a deal to acquire U.S. nuclear-powered attack submarines, Australia's Defence Minister Richard Marles said on Sunday. Canberra is to buy the U.S. Virginia-class military submarines, with Britain and Australia eventually producing and operating a new submarine class, SSN-AUKUS. Australia's centre-left Labor government says the A$368 billion ($246 billion) deal is necessary given China's military buildup in the region, which it has labelled the largest since World War Two. He said there was "absolutely not" a quid pro quo obligation on Australia from the deal. President Joe Biden has said the U.S. would defend Taiwan in the event of "an unprecedented attack" by China.

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