By Susanna Twidale LONDON (Reuters) – Insurance firm Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges of huge reductions in emissions, many scientists believe extracting carbon dioxide from…
FRANKFURT (Reuters) – Global drugmakers are lobbying for wealthy nations to fund a supply mechanism that would secure vaccines for low-income countries without delay in case of a new pandemic, but said the proposal was contingent on free cross-border trade. The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) said in a statement on Monday…
(Reuters) – HSBC Holdings has suspended its head of responsible investing pending an internal investigation after he said central bank policymakers and other global authorities are exaggerating the financial risks of climate change, the Financial Times reported on Sunday citing people with knowledge of the process. HSBC senior banker Stuart Kirk made the comments at…
CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline spiked 33 cents over the past two weeks to $4.71 per gallon. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the price jump comes amid higher crude oil costs and tight gasoline supplies. The average price at the pump is $1.61…
By Ahmed Aboulenein and Chris Gallagher WASHINGTON (Reuters) -A military cargo plane carrying the first shipment of infant formula from Europe to help address a critical shortage in the United States landed in Indianapolis on Sunday, but a top government official noted that much more needs to be done. A Feb. 17 recall by top…
By Sabine Siebold DAVOS, Switzerland (Reuters) – Russia would normally have its own “house” at the World Economic Forum as a showcase for business leaders and investors. This year the space on the dressed-up main street in Davos has been transformed by Ukrainian artists into a “Russian War Crimes House”, portraying images of misery and…
By Ahmed Aboulenein WASHINGTON (Reuters) – A military cargo plane carrying the first shipment of infant formula from Europe to address a critical shortage in the United States landed in Indianapolis on Sunday. A Feb. 17 recall by top baby formula maker Abbott Laboratories and the closing of its manufacturing plant in Sturgis, Michigan has…
DAVOS, Switzerland (AP) — Davos — the hub of an elite annual gathering in the Swiss Alps — is back, more than two years after the coronavirus pandemic kept its business gurus, political leaders and high-minded activists away. There’s no shortage of urgent issues for the World Economic Forum’s annual meeting to tackle. With their…
By Aditya Kalra DAVOS, Switzerland (Reuters) – India must establish rules on cryptocurrencies to resolve regulatory uncertainty, protect investors and boost its crypto sector, CoinSwitch CEO Ashish Singhal said on Sunday. Although India’s central bank has backed a ban on cryptocurrencies over risks to financial stability, a federal government move to tax income from them…
WASHINGTON (AP) — With prices across the economy — from food, gas and rent to cars, airfares and hotel rooms — soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending. Not so far. Consumers as a whole are showing surprising resilience, not only sustaining their spending but…
