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EU stalls COP30 climate deal over fossil fuel concerns
COP30 summit stalls as EU rejects draft deal, calling for stronger climate commitments and fossil fuel discussions
COP30 summit stalls as EU rejects draft deal, calling for stronger climate commitments and fossil fuel discussions
– COP30 in Brazil is stalled as the EU rejected a draft deal over climate change concerns.
– Emerging economies demand stronger financial commitments and clearer fossil fuel policies amidst ongoing negotiations.
Emerging economies have voiced dissatisfaction with the EU’s stance, demanding greater financial commitments for climate adaptation. A negotiator from a developing country asserted the necessity of pathways for both fossil fuel use and climate finance.
The ongoing rifts on fossil fuel references and emission reduction strategies have highlighted the challenges of reaching consensus at COP30. A recently released draft omitted fossil fuel topics entirely, despite earlier calls from approximately 80 countries for a clearer shift away from these sources.
The EU criticized the draft for being inadequate, with Commissioner Wopke Hoekstra firmly opposing it. EU negotiators are considering withdrawing from discussions if their demands for strong emission-cutting actions are not met.
Fossil Fuel Focus
The draft also proposed tripling climate adaptation financing by 2030, although it failed to specify the sources of this funding. Achieving a consensus among nearly 200 participating countries remains critical for any deal’s approval. Corrêa do Lago stressed the importance of a unified message to the world, particularly in light of the U.S.’s absence under President Trump, who has dismissed climate change.
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Big Tech earnings spark investor unease over AI spending
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.
Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.
Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.
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Federal Reserve holds interest rates amid economic uncertainty
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.
The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.
Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.
Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.
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#FederalReserve #InterestRates #Economy
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Trump warns Iran as U.S. naval forces approach amid rising tensions
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.
U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.
Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression.
The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.
#Trump #Iran #USForeignPolicy
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