This year the ultra-rich got even richer. Elon Musk saw his fortune grow by $194 billion during the COVID-19 pandemic, followed by Jeff Bezos who saw his fortune increase by $85 billion. The world’s economic powers made the rich even richer, and the poor even poorer. To explain why this happened we need to look…
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The head of the largest US natural gas producer has said boosting American exports of the fuel could be the “biggest green initiative on the planet” by displacing coal at power stations. Global coal-fired electricity generation will hit a new all-time high in 2021, the International Energy Agency said last week in what it called…
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Nest, the £20bn UK government-backed workplace pension scheme, has sold its holdings in ExxonMobil and four other energy companies after criticising their progress on managing climate change risks. The group, which looks after the retirement savings of 10m UK workers, has dumped investments worth £40m in Exxon, Imperial Oil, Korea Electric Power Corp (Kepco), Marathon…
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The UK government has failed to resolve key post-Brexit issues affecting health and social care nearly a year after the country left the EU, according to a think-tank report that accuses ministers of delaying decisions and negotiating “brinkmanship”. A report from the Nuffield Trust, published on Monday, suggested that pledges to keep the NHS and…
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President Joe Biden’s chief medical adviser has warned of mounting “stress” on the US hospital system as new coronavirus cases tied to the highly transmissible Omicron variant start “raging” through America and the world. “Our hospitals, if things look like they’re looking now, in the next week or two, are going to be very stressed…
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This is the third in a Nikkei Asia series on supply chain nightmares. Read also Apple’s nightmare before Christmas, a look at how the crisis finally reached the maker of the iPhone, and Automakers hit limits of ‘just-in-time’ supply chain management, on the car industry’s nightmare year. A dozen cranes stack giant concrete structures and heavy machines…
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As strained U.S. hospitals brace for a new surge of COVID-19 cases caused by the fast-spreading omicron variant, doctors are warning of yet another challenge: the two standard drugs they’ve used to fight infections are unlikely to work against the new strain. For more than a year antibody drugs from Regeneron and Eli Lilly have…
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Soaring COVID-19 case numbers, long testing lines and event cancellations might feel a bit like déjà vu, but so far New York City hospitals aren’t seeing a repeat of the surges that swamped emergency rooms early in the pandemic. The state reported Saturday that nearly 22,000 people had tested positive for COVID-19 on Friday —…
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The Occupational Health and Safety Administration said Saturday that it would not issue citations tied to its coronavirus vaccination mandate before Jan. 10, so that companies have time to adjust to and implement the requirements. The federal agency separately said there would be no citations of companies regarding its testing requirements before Feb. 9. The…
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Former Tesco boss Sir Dave Lewis is set to become chair of GlaxoSmithKline’s new consumer health division, which is about to be spun-off from its parent company. The division, which makes roughly £10bn of annual sales, will formally announce the pick of Lewis as the company’s non-executive chair on Monday, according to people familiar with…
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