By Chiara Elisei and Dhara Ranasinghe LONDON (Reuters) – The spectre of rising corporate debt defaults exacerbating a global economic slowdown has for months been largely brushed aside by resilient credit markets. Now, long-feared corporate debt woes are starting to hit home, while more companies are being downgraded to a junk credit rating – facing…
By Joanna Plucinska and Guglielmo Mangiapane LONDON/ROME (Reuters) – Soaring summer temperatures across southern Europe could prompt a lasting shift in tourist habits, with more travellers choosing cooler destinations or taking their holidays in spring or autumn to dodge the extreme heat, tourism bodies and experts predict. European Travel Commission (ETC) data shows the number…
By Aftab Ahmed and Shivangi Acharya GANDHINAGAR, India (Reuters) – Multilateral development banks must create a new funding mechanism and triple sustainable lending by 2030 to eliminate poverty and achieve climate goals, a G20 panel said in a report on Tuesday that called for big changes in the way MDBs operate. The independent panel, headed…
By Liliana Salgado PHOENIX (Reuters) -Asia, Europe and the United States baked under extreme heat on Monday as global temperatures soared toward alarming highs and U.S. leaders sought to reignite climate diplomacy with China. The United States was scorched by record-setting heat in the West and South, lashed with flood-triggering rain in the Northeast, and…
By Andrea Shalal (Reuters) – World Bank President Ajay Banga unveiled new plans on Tuesday to stretch the bank’s balance sheet and help countries tackle climate change and other challenges, but said a capital increase would still eventually be needed. Banga, a former Mastercard CEO who took over the helm of the World Bank on…
By Soo-hyang Choi SEOUL (Reuters) -South Korean President Yoon Suk Yeol on Tuesday called for an overhaul of the country’s disaster response system to better cope with climate change-induced crises, after days of torrential rain killed dozens of people in the country. More than 40 people have lost their lives and nine remain missing in…
By Ju-min Park and Hyun Young Yi SEOUL (Reuters) -A year after South Korea vowed to step up readiness for extreme weather driven by climate change, experts say not enough work has been done even as greater volumes of sudden and torrential rains are expected in coming decades. Forty or more people have lost their…
(Reuters) – Tropical Depression Don has strengthened into a Tropical Storm in the central Atlantic on Monday and is forecast to turn southward within the next day or so, the U.S. National Hurricane Center (NHC) said in its latest advisory. The storm, located about 735 miles (1,180 km) west of the Azores, is packing maximum…
By Rachna Uppal ABU DHABI (Reuters) -Japan and the United Arab Emirates agreed to cooperate on technology and climate change during Japan Prime Minister Fumio Kishida’s visit, his second stop in the region focused on securing energy supplies and promoting green technology. Kishida met with Emirati President Sheikh Mohammed bin Zayed Al Nahyan in Abu…
By Valerie Volcovici BEIJING (Reuters) – U.S. climate envoy John Kerry said it was “imperative that China and the United States make real progress” in the four months before U.N.-sponsored climate talks begin in Dubai, as waves of extreme heat and rainfall hit large parts of the globe. While Kerry met his counterpart Xie Zhenhua…
