Worried about their grandkids' future, more seniors are taking up the climate fight
CBC
23-05-17 08:00
A new movement in Canada is seeing elderly citizens march in climate protests and demand green policies in the face of environmental destruction. Seniors for Climate Action Now! (SCAN) began in July 2020 when several seniors from the Toronto area signed a statement of purpose and posted it on Facebook. Tours of Canada’s financial district, visits to politicians, and protests against RBC are some of the activities undertaken by SCAN. There are other similar organisations, such as Climate Legacy and Grand(m)others Act to Save the Planet (GASP). These groups are taking inspiration from youth climate activists such as Greta Thunberg and making themselves visible and vocal.
The changes they seek are significant, given the IPCC’s report on an expected 1.5°C increase in global temperatures since preindustrial times by the 2030s, with coal, oil, and gas being a primary cause. Seniors also hope to influence policy changes for the benefit of their grandchildren, creating images of them for placards to show who they fight for at protests. They are often motivated by environmental crises that affect them and the world. Seniors have seen the effects of climate change and biodiversity loss throughout their lives and recognise it is incredibly damaging.
While seniors have been a part of climate movements in the past, their prominence is increasing, aligning with movements like Extinction Rebellion in the UK as well as supporting young climate activists such as Thunberg. Senior demonstrations across cities in Canada were held on Fossil Fools Day, the date marking the end of winter and the start of the prime fossil fuel-burning season, in 2021, protesting RBC’s investment in fossil fuels. Bill McKibben, a long-time environmentalist in the US, suggests seniors are taking action because climate change is their legacy; so, they need to do something about it.
Asia's bullish stock traders are dwindling as China's post-Covid economic recovery has failed to rally stocks in a sustained way, reinforced by a recent miss in April economic data, from industrial production to fixed-asset investment. Concerns centre on the speed and strength of China's recovery and a looming overseas recession that will add to the pressure on external demand. The lacklustre trading pattern has led to a drop in the number of investors bullish on China's recovery, a recent survey by Bank of America revealed, adding that India has overtaken China as the favourite for investors in Asia. Per capita consumer spending during May's golden week holiday came in below pre-pandemic levels. Property investment continued to contract, and youth unemployment hit a record high of 20.4% – but that data excluded almost 12 million university graduates who will enter the job market this summer.
An almost 150-year-old stained glass window found in a long-unoccupied church in Warren, Rhode Island is believed to be the oldest-known public example of Jesus Christ depicted with dark skin. The 3.7-metre by 1.5-metre vintage work of art shows Christ interacting with women painted with similarly dark skins, a reminder of Rhode Island's relationship with the slave trade as well as a commentary on women's place in 19th century society. Reports suggest the ethnicity of the Christ figure, who could be interpreted as Middle Eastern, is up for interpretation. The current owners of the building are said to be looking for a suitable institution to preserve and display the window.
The US Federal Reserve is expected to keep interest rates on hold despite a predicted recession this year, according to a poll of economists. A number of policy makers have said they will maintain or raise the federal funds rate, despite the 34 of 46 respondents who predicted a US recession in 2023. The uncertainty surrounding the ongoing debt limit crisis will increase the risk of a default, according to the poll.
Democrats and the majority of voters believe that President Joe Biden, who will turn 81 in November, should not run for a second term. However, those questioning Biden's age must consider that the vice-president - Kamala Harris - could also attract scrutiny when she runs. Democrats and much of the “mainstream” media are working off an invisible memo that tells them to avoid talking about Biden's age, however this cannot last. Biden must now elevate Harris's role to become a bigger factor next year and focus on key issues that will appeal to voters.
US President Joe Biden will continue discussions with congressional leaders over America's debt limit after his visit to the G7 summit this week. The President, who had a successful hour-long meeting with House Republican Speaker Kevin McCarthy this week, plans to telephone top lawmakers during his trip to Japan, said White House spokeswoman Karine Jean-Pierre. The Republican bullet points including health care cuts and increased poverty in parts of the country, which the Democrats oppose. Biden hopes to reach a bilateral budget agreement next week that can be signed into law.
US President Joe Biden’s decision not to visit Australia for the Quad meeting risks sending a damaging message to the Asia-Pacific region about the US’ commitment to the area as it competes with China for influence. Biden cancelled his visit to Australia to attend Washington’s regular debt-ceiling and attend a G7 summit in Japan. His decision was influenced by the US Treasury warning it could run out of money to pay bills by June 1. Far more important than any hurt feelings caused, Australia’s hurt over Biden’s withdrawal from the Quad meeting and decision to snub the country along with Papua New Guinea provides weight to arguments that arrangements such as AUKUS and the Quad rely on US domestic politics and are not treated with due seriousness. Biden’s decision to cancel the visit was “a calculated snub to a friend and a gift to a rival,” and was a “slap in the face” to Australian Prime Minister Anthony Albanese who had staked much on the visit.
Luxury ice is the latest drinks trend, say reports. US leading ice suppliers Gläce Luxury Ice and Disco Cubes have sparked a trend for expensive and high-end ice, with flowered and branded ice cubes now popular at luxury LA parties and smart London restaurants. The potential market for specialist premium ice is huge; Americans currently have the highest per capita consumption of ice of any country, with the growth trend also reflected globally, albeit less prolifically.
São Paulo’s A Casa do Porco, which was named the highest-ranked Brazilian restaurant in the World’s 50 Best Restaurants, is marking a “new chapter” for the country’s culinary scene, according to food writer Rafael Tonon. The restaurant, which focuses on pork dishes but also offers vegetarian and vegan menu options, was opened in 2015 by Janaína and Jefferson Rueda. Janaína explained it was designed to be an accessible restaurant, whilst the cuisine showcases the diversity of Brazilian food. Dishes range from homemade charcuterie to pork sushi, which pays homage to Brazil’s sizeable Japanese community and its pre-European populations. While A Casa isn’t the only restaurant looking to Brazil’s roots – Helene Rizzo’s Maní offers foie gras with guava, and Chef Atala’s D.O.M is known for serving Amazonian ants – Tonon says it is “forging a popular Brazilian cuisine, much like the country has already seen in music, by uniting exclusive and traditional dishes into uncomplicated but technically expert food."
US President Joe Biden has cut his diplomatic visit to Asia short to participate in final negotiations over America's debt ceiling. His comments came ahead of meetings between Steve Ricchetti, a senior adviser to the president, and Shalanda Young, Director of the Office of Management and Budget with negotiators representing congressional Republicans. The United States is projected to run out of money to pay its bills by June 1 if Congress does not raise or suspend the debt limit, potentially causing a recession. The government reached the $31.4tn debt limit on Jan. 19.
Debt ceiling threat: Time to take this political football off the field
CNN
23-05-17 16:31
The debt ceiling debate in Washington should be abandoned to save US living standards, family budgets, and global financial stability, according to economics experts. Theoretically, the debt ceiling should work as a fiscal restraint during the budgeting process. But after near meltdowns in 2011, 2013 and recently, economists argue it is time to take the political football off of the field. The CEO of JPMorgan Chase, Jamie Dimon said last week that he would be in favour of getting rid of the debt ceiling. The Fed's former vice-chairman, Roger Ferguson, said the debt ceiling is an antiquated mechanism that should be scrapped.
The US and Palau have reached an initial agreement to renew the Compact of Free Association agreement, a key strategic pact that sees the US provide Palau with defence and economic support in exchange for exclusive access to areas of the Pacific. The renewal follows a similar agreement reached with Micronesia on Monday as part of an effort to counter China's attempt to expand its influence in the region. However, President Biden called off a visit to the region to attend the signing ceremony due to the US debt ceiling crisis, which analysts suggest is a blow to US credibility in the area. The renewal with the Marshall Islands is also due to be signed.
Penguin Random House is suing Florida's Escambia County School Board, claiming the removal of books on LGBTQ+ themes and race was illegal, in a further battle against US political conservatives’ “anti-woke” actions. Penguin joined forces with a group of authors and PEN America after Escambia withdrew a series of books, including works by Toni Morrison, Kurt Vonnegut and Khaled Hosseini. The district, in the west of the state and bordering Alabama, is among those in Florida that have imposed measures limiting teaching in schools, colleges and other workplaces aimed at supporting diversity.
The New York Post published an article on Wednesday suggesting that Hillary Clinton and "Clinton operatives" invented the investigation into Russian election interference. The article claimed that the entire investigation was based on disinformation in the "Steele dossier" compiled by former intelligence officer Christopher Steele, and that Clinton operatives invented the Russian collusion conspiracy and put it into the Steele dossier. The article was written by Jonathan Turley, an attorney who has become a vocal supporter of former US President Donald Trump’s claims of an unfair investigation. The claims made by Turley have been popular in right-wing circles, but have been refuted by the recent report of special counsel John Durham. In an attempt to counter the report, Turley incorrectly claims that the dossier was the origin of the Russia probe rather than based on credible intelligence sources, and that the Clinton campaign invented the conspiracy theory linking Trump to Russia. A detailed timeline of the events that preceded the investigation into Russia’s attempts to influence the 2016 US presidential election shows that the claims made by Turley are unfounded.
There is a growing chance that the planet will warm to more than 1.5°C above pre-industrial levels within the next five years, according to the United Nations arm the World Meteorological Organization (WMO). In 2015, the nations of the world committed to prevent such a rise in temperatures in the Paris Agreement. In 2017, the WMO estimated that there was a 48% chance that this target would be breached, but this estimate has now increased to 66%. The WMO has said it is almost certain that one of the next five years will be the hottest in human history.
New legislation approved in Illinois could protect access to abortion for individuals who face penalties in their own state for seeking the procedure. Measures passed by the General Assembly include penalties for pregnancy centres that distribute inaccurate information, requiring colleges to provide emergency contraception in dispensers at a reduced price and demanding Illinois insurers cover abortion-inducing drugs. Another measure approved by the House would insist that interstate agreements to share number plate recognition technology be accompanied by promises that it would not be used to track patients arriving from other states for an abortion.
PEN America and Penguin Random House are suing Florida’s Escambia County School District after it removed 10 books covering subjects such as race and LGBTQ identities from libraries. Alleging that the school board breached the First Amendment of the US Constitution by removing the books, the suit is the latest challenge to conservative laws in the state led by Governor Ron DeSantis. Among other measures, DeSantis has banned gender-affirming care for transgender youth, restricted gender-neutral pronouns in schools and forced trans young people to use bathrooms based on birth-assigned sex.
A report has argued that China's embrace of artificial intelligence (AI) for its military means the US needs to redesign its military to respond to the threat. Produced by the Special Competitive Studies Project, headed by former Google CEO Eric Schmidt to speed up the adoption of AI in US defence establishment, the report argues that China’s 30-year effort to study US combat techniques will be greatly enhanced by the development of AI. The ratcheting up of AI usage by both countries has sparked concerns of an arms race, potentially exacerbating any diplomatic conflict. US concerns have included the risk of AI-enabled attacks against satellites in space and nuclear architecture, while Redwood City venture capitalist Vinod Khosla has argued that slowing down US AI research would benefit China. United Nations Secretary-General Antonio Guterres has called for a new international law on autonomy in weapons systems.
Angry lawmakers accuse Fed of inaction in insider trading investigation
CNN
23-05-18 00:49
Federal Reserve Inspector General Mark Bialek faced questions from Congressional lawmakers regarding possible insider trading by Fed officials in 2020, with accusations of inaction against the central bank. Bialek faced criticism over an ongoing investigation into trades made by heads of the Boston and Dallas Federal Reserve banks before and during the pandemic. Bialek said his investigation was limited by the need to conduct a "thorough, independent investigation." Senators expressed doubts over Bialek's ability to conduct independent investigations since he was appointed by members of the Fed's Board of Governors, whom he is tasked with investigating. Lawmakers have introduced bills for an independently appointed Inspector General in light of the SVB bank collapse in March.
Column: Investors favor Japan's rising sun over China's fading star: McGeever
Reuters
23-05-18 00:21
Bank of America's latest surveys, reissued Wednesday, shows investors both in favour of Japanese equities and selling off Chinese assets amid changing economic fortunes for both countries. While Japanese stocks are now at levels not seen for over 30 years, Chinese assets - particularly bonds - are falling out of favour among investors as the country's economic growth slows.
