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UK needs carbon import tax to meet emissions targets, say MPs

The UK should draw up plans for a levy on carbon-intensive imports to protect domestic industry and drive down greenhouse gas emissions, MPs said on Monday. A “carbon border adjustment mechanism” (CBAM) would reduce the risk of companies offshoring production to avoid the domestic UK tax on carbon that is applied to certain polluting industries,…
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3 April 2022 0

Water access and the energy transition

Climate change and water are inextricably linked sustainability megatrends. While there is clear global collaborative action on solving the former, we also need to solve the issue of water scarcity if we want some key climate solutions to be fully deployed. Recent droughts in South America and floods in Australia are evidence of climate change…
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3 April 2022 0

Stephen Wilhite, inventor of the gif, 1948-2022

In the long-simmering conflict between Russia and Ukraine, one of the oddest chapters came in May 2017, when a diplomatic spat took a digital twist. An argument over the nationality of an 11th-century queen consort of France erupted on Twitter, where the official account of Ukraine deployed an unusual tool of international relations against its…
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2 April 2022 0

SoftBank liquidates most of portfolio at ‘Nasdaq whale’ trading unit

SoftBank has liquidated almost all of the positions in its abortive internal hedge fund SB Northstar after racking up between $6bn and $7bn in losses in the unit behind the notorious “Nasdaq whale” trades. The future of the Japanese technology conglomerate’s buccaneering trading unit has been in doubt since November, when SoftBank’s founder Masayoshi Son…
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2 April 2022 0

American motorists press the accelerator despite oil shortfall

The White House has promised 180mn barrels from emergency oil stockpiles to address a global energy supply crisis. As for reducing consumption, American drivers have not got the memo. US oil use this year has averaged almost 21mn barrels a day over the past month, according to preliminary government statistics, up 8 per cent from…
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2 April 2022 0

US probes Activision CEO’s brunch meeting with trader before Microsoft deal

US officials are probing a meeting between the chief executive of Activision Blizzard and a person who days later traded on behalf of media tycoon Barry Diller and music mogul David Geffen, as authorities examine whether there were any insider dealings in the gaming company, according to people familiar with the matter. The inquiry is…
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1 April 2022 0