Category Archives: News

Worldwide news. News is information about current events. This may be provided through many different media: word of mouth, printing, postal systems, broadcasting, electronic communication, or through the testimony of observers and witnesses to events. News is sometimes called “hard news” to differentiate it from soft media

Britain Conditionally Approves First COVID-19 Antiviral Pill

Britain has granted conditional approval to the first pill shown to effectively treat COVID-19.

The pill, molnupiravir, was jointly developed by the U.S. pharmaceutical companies Merck and Ridgeback Biotherapeutics.

Data showed the drug, when given orally during the onset of COVID-19 symptoms, could cut COVID-related deaths and hospitalizations in half among people at high risk of developing severe illness, according to Reuters.

Also watch:

 

Britain’s drug regulator recommended that it be administered as soon as possible to those 18 and older who test positive for COVID-19 and within five days of the onset of symptoms.

It was not immediately clear when the pill would be available in Britain.

The U.S. Food and Drug Administration said in October a committee of independent experts would scrutinize the drug’s safety and effectiveness later this month. 

Regulators in the European Union and in other countries said they would also soon review the drug.

Some information in this report also came from The Associated Press and Reuters.

What Are The Facebook Papers?

Social media behemoth Facebook is facing public and regulatory scrutiny after the disclosure of thousands of pages of internal documents by a whistleblower who used to work for the company.

What are the Facebook papers?

After compiling the documents while working as a Facebook product manager, Frances Haugen distributed them to a group of 17 U.S. news organizations that collaborated on a project to individually publish stories on their findings.

The stories, released on a coordinated day in late October, portray Facebook as pursuing audience growth and profits while ignoring how people were using the platform to spread hate and misinformation.

The documents showed Facebook particularly struggled with monitoring for hate speech, inflammatory rhetoric and misinformation by users posting in certain countries, including some that Facebook had determined were at the most risk for real-world consequences of such abuses.

The failures included both inadequate artificial intelligence systems and not enough human moderators who speak the many languages spoken by Facebook users.

Who else received them?

In addition to providing the documents to journalists, Haugen has also made them available to the U.S. Securities and Exchange Commission and the U.S. Congress. Haugen has also appeared before the Senate Commerce Committee and testified before the British Parliament.

Haugen used her smartphone camera to capture the documents.

Why are they important?

The company has massive global reach. Facebook had 2.74 billion active users as of the end of September, according to company statistics. That is about 1 out of every 3 people on the planet, and the company also operates other popular services such as WhatsApp and Instagram.

How has Facebook responded?

Facebook spokesperson Mavis Jones said in a statement that the company is working to stop abuse on its platform in places where there is a higher risk of conflict, and that it has native speakers to review content in 70 languages.

Founder Mark Zuckerberg spoke during a quarterly earnings conference call Monday and said Facebook is facing “a coordinated effort to selectively use leaked documents to paint a false picture of our company.”

Some information for this report came from the Associated Press, the Agence France-Presse and Reuters.

US Blacklists Four Foreign Companies for ‘Malicious Cyber Activities’

The U.S. government has added four foreign technology companies to its restricted companies list, saying they “developed and supplied spyware to foreign governments” and that the spyware was used “to maliciously target government officials, journalists, businesspeople, activists, academics, and embassy workers.”

The State Department accused the companies of “engaging in activities contrary to the national security or foreign policy interests of the United States.” 

The companies are Israel’s NSO Group and Candiru, Russia’s Positive Technologies, and Singapore’s Computer Security Initiative Consultancy PTE. LTD. 

These companies will now face severe restrictions in exporting their products to the U.S., and it will make it difficult for U.S. cybersecurity firms to sell them information that could be useful in developing their products. 

“This effort is aimed at improving citizens’ digital security, combating cyber threats, and mitigating unlawful surveillance,” the State Department said. 

According to Reuters, both NSO Group and Candiru have been accused of selling their products to authoritarian regimes. NSO said it takes actions to prevent the abuse of its products. 

Positive Technologies has been in the crosshairs before, having been sanctioned by the Biden administration for allegedly providing assistance to Russian security forces. The company said it has done nothing wrong. 

None of the companies commented on their blacklisting. 

 

Some information in this report comes from Reuters. 

 

Diplomatic Dispute Between Algeria and Morocco Prompts Energy Crisis in Spain

Spain faces a fresh energy crisis after Algeria shut off supplies of natural gas through one of the two pipelines linking Spain with the North African state.

Like many other European countries, Spain has been hit hard by soaring electricity prices in recent months.

A surge in demand as the world’s economies began to recover from the COVID-19 pandemic has not been matched by supply, sending prices climbing.

Households have been hit by electricity prices which rose more than 40% in the past year, prompting the Spanish government to bring in emergency measures to reduce bills.

Now the fresh crisis over natural gas supplies from their North African neighbors has added to tensions in the energy market for Spain.

Algeria closed a land pipeline Sunday after a diplomatic dispute with its neighbor Morocco, through which the pipeline passes.

Algiers agreed to keep open a second pipeline which passes under the Mediterranean to Spain, but this does not supply as much natural gas as the land pipeline through Morocco.

Without any natural energy source except the burgeoning renewables market, Spain depends on Algeria for its natural gas supply.

Spain’s geographic isolation in western Europe and lack of any domestic source of energy has left it especially vulnerable.

The Spanish media have reported that the country could face possible blackouts because of energy shortages.

El Pais, a Spanish-language daily newspaper, reported Tuesday that Spain would have to deliver liquified natural gas, or LNG, supplies by ship which could prove costly as other countries are competing for the same supplies because of a world shortage of the energy source.

Spain’s government sought to cool fears over a possible energy shortage. 

During an interview Tuesday on state broadcaster TVE, Spain’s environment minister, Teresa Ribera, said the country has accumulated natural gas reserves equivalent to 43 days of consumption.

She added that Algeria agreed to supply more gas to Spain if the latter needed it.

Enagas, a Spanish company which owns and operates the country’s energy grid and is one of the biggest LNG transporters in western Europe, said in a statement, “There are no objective signs of a situation of lack of gas supplies in the coming months.”

Algeria said it was planning to stop shipments through the Gaz-Maghreb-Europe pipeline which traverses Morocco and carries about 10 billion cubic meters (bcm) per year.

Algiers took this step after cutting diplomatic ties with Morocco in August and accusing its leadership of taking “hostile actions.” Algeria further accused Morocco of aiding the Movement for the Autonomy of Kabylie, a regional nationalist movement in Algeria, of starting a series of fires which ravaged the country, an accusation which Morocco denied.

Algeria’s decision to shut off a pipeline comes as natural gas prices have soared in recent months across Europe because of a shortage of supplies from Russia, pushing up electricity bills for consumers.

Spain hopes that it can weather the storm by using deliveries of natural gas from the Medgaz pipeline which passes under the Mediterranean directly from Algeria to Spain.

This line carries about eight billion cubic meters per year of gas but planned works could see its capacity rise to 10.5 billion cubic meters per year by January.

Algeria also proposes increasing LNG deliveries by sea.

Analysts said that events in North Africa did not help a difficult situation in the world energy market as supplies to Europe were restricted by Russia, the continent’s most important supplier of natural gas.

“The most important factor is Russia because it is restricting supply. Demand is going up because economies are recuperating but supply is not rising because the primary supplier for Europe is Russia,” Massimo Maoret, associate professor of strategic management at IESE business school in Madrid, told VOA.

“On top of that you have the situation in Algeria which is creating more uncertainty. Algeria has promised that supply will be ensured. It is an additional strain on dynamics which are building on global tensions.”

Political pressure has mounted on the Spanish government after electricity prices for consumers rose 44% over the past year, according to data from the National Institute for Statistics.

Professor Maoret said a harsh winter may exacerbate problems if demand increases.

Jorge Sanz, an analyst at Nera Economic Consulting, said supply was not in doubt so government reassurances were well founded. He did say prices may rise and could possibly affect consumers.

“The Medgaz pipeline will be expanded by New Year to ensure it carries 10.5 bcm (billion cubic meters), the same as the line which passes through Morocco. It is a temporary shortfall which can be covered by reserves,” he told VOA.

“However, what is in doubt is the price of natural gas which could go up — or it could go down — and this could be passed onto the electricity prices for consumers.”

Some information for this report comes from Reuters. 

Lawyer: Russia Accuses Ex-reporter of Being Paid $248 for Treason

Russian special services have charged former journalist Ivan Safronov with selling information on Russian military operations in Syria for $248 to a political analyst who they say then passed it to German intelligence, Safronov’s lawyer said.

In a rare glimpse into the classified investigation against Safronov, lawyer Ivan Pavlov said the Syria-related charge had been added to the case against him for state treason, which his supporters say is part of a campaign to intimidate journalists.

Pavlov said the charge states that Safronov sold the information in 2015 to political analyst Demuri Voronin, who in turn passed it to Germany’s BND foreign intelligence agency and to a Swiss university.

“According to the charges, Voronin paid him compensation of $248,” the lawyer wrote on social media, saying reporters in Russia could be accused of treason just for doing their job.

Safronov, a former defense reporter who later worked as an aide to the head of Russia’s space agency, was arrested last year and faces up to 20 years in prison if found guilty. He denies wrongdoing.

Russian media reported on Monday that the investigation had been completed. The FSB intelligence service did not reply to a Reuters request for comment, while the BND declined to comment.

The main accusation against Safronov is that he passed military secrets to the Czech Republic in 2017 concerning Russian arms deliveries to the Middle East and Africa.

Nearly 100,000 people have signed an online petition accusing the authorities of cooking up fake proof of Safronov’s guilt under the cover of state secrecy which surrounds the case, something the Kremlin has denied.

Pavlov, one of a team of lawyers defending Safronov, fledRussia and moved to Georgia in September after coming under criminal investigation for disclosing classified information about the case.

Political analyst Voronin, who holds Russian and German citizenship, was arrested in Moscow in February on treason charges. His lawyer Maria Orlova denied these were linked to Safronov’s case, telling Reuters that Voronin did not admit guilt and refused to testify against himself.

Biden Slams China, Russia on Climate Commitments

U.S. President Joe Biden on Tuesday announced ambitious climate commitments at  the United Nations Climate Change Conference, also known as COP26, in Glasgow, Scotland. He also slammed Chinese and Russian leaders for not doing their part. VOA’s White House Bureau Chief Patsy Widakuswara brings this report from Glasgow.

Produced by: Kimberlyn Weeks           

Anita Powell contributed to this report.

China, Russia Urges UN Security Council to Lift Economic Sanctions on N. Korea 

China and Russia are set to introduce a joint resolution to the United Nations Security Council calling for an end to a host of economic sanctions on the isolated regime. 

Among the sanctions the two countries want lifted are a ban on North Koreans working overseas and sending home their earnings, exporting seafood and textiles and ending a cap on imports of refined petroleum. 

The draft resolution, obtained separately by the Associated Press and Reuters, urges the 15-member Security Council to remove the sanctions “with the intent of enhancing the livelihood of the civilian population” of North Korea.   

The U.N. first imposed sanctions on North Korea in 2006 over its nuclear and ballistic missile programs, which have grown even stronger with each test Pyongyang carries out in defiance of the international community and in spite of its worsening economic situation. 

The draft resolution says lifting the sanctions “underscores the necessity to respect the legitimate security concerns of the DPRK, and ensure the welfare, inherent dignity, and rights of people in the DPRK.” 

The resolution expands on one circulated by China and Russia in 2019 that was never introduced due to opposition by the United States and other Western nations.   

Some information for this report came from the Associated Press and Reuters.  

CIA Director Makes Rare Trip to Moscow for Talks on Russia-US Ties 

CIA Director William Burns is making a rare visit to Moscow to discuss U.S.-Russia relations, the latest in a series of high-level contacts that show both sides want to keep talking despite mutual distrust and a long list of disputes. 

A U.S. Embassy spokesperson said Burns was leading a delegation of senior U.S. officials to Moscow on Tuesday and Wednesday at President Joe Biden’s request. 

“They are meeting with members of the Russian government to discuss a range of issues in the bilateral relationship,” the spokesperson said. 

Russia’s Security Council said Burns, a Russian-speaker and former ambassador to Moscow, held talks with Nikolai Patrushev, the council’s secretary and a former head of Russia’s FSB intelligence service. 

Neither side gave details of the conversation, but security issues loom large in their troubled relationship. 

Ties have hit a series of post-Cold War lows over issues including Russian-based cyberattacks against U.S. targets, Moscow’s support for Syrian President Bashar al-Assad, the jailing of opposition politician Alexey Navalny and Russia’s behavior toward Ukraine, from which it seized the Crimea Peninsula in 2014. 

Biden sent a top Russia expert, Under Secretary of State Victoria Nuland, to Moscow for talks last month that failed to yield any progress in a dispute between the two countries over the sizes of their respective embassies. 

Biden met Russian President Vladimir Putin at a summit in Geneva in June, and said at the time it would take six months to a year to find out whether the two countries could establish a meaningful strategic dialog. 

Putin frequently criticizes the United States but said last month he had established a constructive relationship with Biden. The Kremlin has said a further meeting between the two this year is a realistic possibility. 

Why Israel and Switzerland Stayed Silent on Uyghur Human Rights in China

Human rights activists are expressing surprise at the failure of Israel and Switzerland to participate in a joint statement criticizing China’s treatment of its Uyghur minority. 

France delivered the statement on behalf of 43 countries at the United Nations last month. 

The two countries “have signed previous statements, especially Switzerland, which has always joined collective statements condemning atrocities in East Turkistan,” said Dolkun Isa, president of the Munich-based World Uyghur Congress, who used the Uyghurs’ preferred name for the Xinjiang Uyghur Autonomous Region of China in an interview with VOA. 

Varied responses to China and Uyghurs 

In the joint statement, France’s U.N. Ambassador Nicolas de Rivière said the signatory countries “are particularly concerned about the situation in the Xinjiang Uyghur Autonomous Region” He added that credible reports “indicate the existence of a large network of ‘political re-education’ camps where over a million people have been arbitrarily detained.”

The statement called on China to allow “immediate, meaningful and unfettered access” to Xinjiang for independent observers, including the U.N. High Commissioner for Human Rights.

China’s U.N. ambassador, Zhang Jun, rejected the joint criticism as “unfounded” and likened the signatory countries the “henchmen” of the United States.

“Xinjiang enjoys stability, development and prosperity, and the Chinese people’s life is getting better day by day,” Zhang said. “The Chinese people are satisfied with and proud of such achievements, and those achievements are widely recognized and praised by people around the world.”

Switzerland and Israel 

In June at the United Nations in Geneva, Israel and Switzerland joined 42 other countries in signing a joint statement concerning Uyghur human rights in China. 

But Switzerland’s foreign ministry spokesperson Pierre-Alain Eltschinger told VOA in an email that his country decided not to join in the latest statement because of various factors, including an upcoming “strategic dialogue” with China.

“Switzerland’s substantive position on China and human rights remains unchanged,” Eltschinger wrote. “Switzerland continues to be concerned about the human rights situation in Xinjiang and other parts of China.”

Eltschinger added that Switzerland assesses support for any joint statement on a case-by-case basis. “Switzerland will continue to join joint statements in the future when it deems it appropriate,” he said. 

Israel’s foreign ministry and the embassy of Israel in Washington did not respond to questions from VOA about its decision not to sign the October statement.

However, the Jewish Movement for Uyghur Freedom, a grassroots Jewish rights organization, suggested that the Israeli government is bargaining with China in order to “preserve” relations.

“It was on the right side of the Uyghur issue in June when it signed an earlier statement, and we call on [Israel] to reestablish this position,” the group said in an email to VOA.

Isa said it is not unprecedented at the United Nations for a country to shift its position on Uyghur human rights in the face of diplomatic pressure from China.

“During the last statement in June, Ukraine was initially part of the joint statement delivered by 44 U.N. member states. However, it withdrew its signature shortly after, because of the vaccine diplomacy that China exercised against Ukraine,” Isa said. 

Sixty-two countries including Cuba signed onto a joint statement opposing interference in China’s internal affairs in the name of human rights, according to Chinese state media. 

Facebook Shuts Down Facial Recognition Technology

Facebook says it is shutting down its facial recognition system.

Citing “growing societal concerns” about the technology that can automatically identify people in photos and videos, the company says it will continue to work on the technology to try to address issues. 

“Regulators are still in the process of providing a clear set of rules governing its use,” Jerome Pesenti, vice president of artificial intelligence at Facebook, said in a blog post. “Amid this ongoing uncertainty, we believe that limiting the use of facial recognition to a narrow set of use cases is appropriate.” 

The move will delete the “facial recognition templates” of more than 1 billion people, Reuters reported. Facebook said that one-third of its daily active users opted into the technology. 

The deletions should be done by December, the company said.

The company also said that a tool that creates audible descriptions of photos for the visually impaired will function normally, but will no longer include the names of people in photos. 

Facebook, which rebranded itself as Meta last week, doesn’t appear to be shutting the door permanently on facial recognition. 

“Looking ahead, we still see facial recognition technology as a powerful tool, for example, for people needing to verify their identity or to prevent fraud and impersonation,” the company wrote, adding it will “continue working on these technologies and engaging outside experts.” 

Some information in this report came from Reuters.

Russia Grappling With Soaring COVID Cases Amid Vaccine Hesitancy

Wealthy Russians didn’t delay their escape. 

Ahead of the imposition this week of new nationwide pandemic restrictions aimed at curbing the spread of the coronavirus, they headed to Turkey, Egypt and the United Arab Emirates. Or to Black Sea resorts, such as Sochi, which was anticipating an influx this week of 100,000 tourists from northern Russia.

Travel agencies reported bookings soaring for tour packages. 

The Kremlin hopes the new restrictions, which will see Russians required to take paid leave from October 30 to November 7, will slow record infections and deaths. Russian officials have sought to discourage travel but to little avail.

Last week, Kremlin spokesperson Dmitry Peskov told reporters in Moscow, “Epidemiologists have raised concerns that many people are planning to go on trips and travel.”

Whether the weeklong involuntary public holiday will slow the pace of infections remains to be seen, say health experts. The latest wave of the pandemic — the country’s fourth and most deadly — has been fueled by widespread vaccine hesitancy. 

Only 32% percent of Russia’s population is fully vaccinated, and according to a survey published this week by the Levada Center, a Moscow-based pollster, half of the respondents said they are unafraid of contracting the coronavirus. And three out of four unvaccinated Russians aren’t planning to get inoculated, according to an opinion poll conducted last month by international pollster Gallup.

Former Prime Minister Dmitry Medvedev publicly warned Monday of the urgency of persuading more Russians to get vaccinated.

“If we do not find ways to convince people of their irresponsibility, even, to put it bluntly, their antisocial behavior, we will face even more difficult times,” he said. Russia’s Sputnik V vaccine is widely available. 

In the last few weeks, the number of recorded COVID-19 cases has risen inexorably, with records broken day after day. By ordering most state organizations and private businesses to stop work, except for those involved in maintaining critical infrastructure, the Kremlin hopes the trend can be reversed. 

Five regions — Kursk, Nizhny Novgorod, Perm, Samara and Voronezh — started the non-work period earlier than others and are likely to see their off-work period extended beyond November 7. The governor of Novgorod, Andrey Nikitin, has already announced he is prolonging the non-work period in his region by an additional week. 

“We’re extending the period of non-working days by one week, with the preservation of wages,” Nikitin announced Monday.

Rosstat, the Russian government’s statistics department, reported Friday that 201,945 people died from all causes during the month of September — a 45% jump from the same month in 2019. Excess deaths — a measure comparing fatalities from all causes to pre-pandemic levels — is seen by some experts as a more robust indicator of pandemic deaths, because the official coronavirus tallies leave out many people who died without being tested.

The Kremlin has been accused of playing down the COVID-19 death toll since the start of the pandemic. According to the official pandemic tally, 235,000 Russian deaths are COVID-related, the fourth-highest in the world. But excess deaths since the arrival of the coronavirus have reached almost 750,000.

Officially, more than 8.5 million infections have been recorded in the country since the pandemic struck. On Monday, Russia health officials reported more than 40,000 fresh coronavirus cases. 

The pressure on the country’s health service is mounting, which the Kremlin is now acknowledging. Some regions have reported oxygen shortages because of surging cases.

“Of course, the situation is not straightforward. Beds are filled to a large extent, and these days, the situation is not becoming easier,” Peskov told reporters in the Russian capital. “This is an excessive and extraordinary burden on our doctors, who are demonstrating heroism with what is happening.”

Shortly before he spoke, the state-run Tass news agency reported the Kremlin is planning to introduce a nationwide digital pass system similar to the European Union’s which will allow Russians to show proof of vaccination or recent recovery from the coronavirus. Entry to public buildings and events is likely to be restricted to those armed with a digital pass. Many regions have already implemented a pass system and have mandated vaccinations for their public workers.

Officials hope the digital pass system will undermine a roaring trade in counterfeit health certificates. The 47News outlet, which is based in St. Petersburg, reported this week on the sophisticated operations of counterfeiters who offer falsified COVID-19 test certificates. It said clients are charged 2,550 rubles ($36) to receive a fake negative test result within three hours; forged documents contain a QR code that links to a fake laboratory website. 

Russia Ups Pressure on Independent Media

Russia is increasing pressure on independent Russian media by legislating the systematic labeling of many of them as “foreign agents,” a category that in Russia is historically associated with the idea of “enemies of the state.” Jon Spier narrates this report from VOA’s Moscow bureau.

Bill Gates Vows to Donate $350 Million to Seed Programs for Small Farmers

Philanthropist Bill Gates says the Bill & Melinda Gates Foundation will donate $350 million to help small farmers around the world grow crops that will adapt to climate change.

In an interview with VOA from Glasgow where he is attending the U.N. Climate Change Conference, Gates said the money will go to a seed consortium which will help farmers thrive in changing environments.

The interview was edited for brevity and clarity. 

Q: Help us visualize the scope of the problem when it comes to climate change. What are we facing and how much should we be concerned?

A: Well, climate change is one of the biggest challenges mankind has ever faced. Year by year, because of these carbon emissions, the climate will be getting hotter and that means, particularly anywhere near the equator, the ability to do outdoor farming or outdoor construction work will become impossible. And so that’ll really destabilize people who live in these tropical zones. And so we have to do two things: we have to stop those emissions, where there’s an ambitious goal to do that by 2050, and then in the meantime we need to help countries adapt to these changing weather conditions, for example, you know, giving them better seeds.  

Q: How are we going to know that COP 26 is a success? 

A: We’ve deeply engaged the private sector. We’ve identified the need for innovation and how we get every sector working together to drive that innovation. And we’re now paying significant effort to adaptation. And so those three things were not there in Paris. I’m not saying that the commitments here are good enough. We need to see over the next five years the same type of increased engagement on the different issues, you know, better policies, more private sector and more innovation, including the innovation that’s focused on the adaptation.

 

Q: What else are you referring to in terms of innovation? 

A: A number of countries are announcing increased resources, including President Biden. We’re announcing $350 million over the next three years for the seed consortium which is called the CG System. That makes the seeds for all the different countries and the big priority for that money will be seeds that can be even more productive despite the challenge of climate change.  

And so overall we expect that an additional billion dollars, including our money, will be committed to that effort. That has the potential to benefit literally hundreds of millions of these smallholder farmers. So probably won’t get the attention it deserves, but probably the biggest move for adaptation using innovation for that will be announced here. 

Q: What are your thoughts on the impact of climate change in underdeveloped countries, especially in a region like Africa?

A: Well, as you say, it’s a great injustice. And in fact, my interest in climate change came from seeing that through our agricultural work in Africa the farmers were often having a more difficult time. And so they’re already facing these difficulties, which will get significantly worse between now and the end of the century. And so I studied the issue of climate change and the Gates Foundation took on this adaptation as a big priority. That wasn’t getting much attention. So I joined together with some others to create the ‘Commission on Adaptation’ and we had …a lot of great participation and did a report that highlighted some of these key investments.  

Q: What do you think all of us can do to contribute to this global solution in fighting climate change?  

A: Well, certainly there are products that have lower emissions…In rich countries, you know, we are starting to have food indications of which kinds of food cause what emissions. And we have more and more electric cars. You know we have the ability to heat your home with what’s called an electric heat pump versus using a hydrocarbon like natural gas to your house. You know I would say that for the individual, political engagement is also important because this is a problem where we have to make near-term investments (and) even some short-term sacrifice to get the long-term benefit of having drastic climate change impacts. And so, educating people that this is very worth doing, particularly getting young people engaged.

Biden Sets Sights on Methane Reduction Plan at Global Climate Summit

President Joe Biden on Tuesday announced a sweeping U.S. plan to reduce methane emissions, as leaders from more than 100 nations met for a second day of talks at the U.N. Climate Change Conference in Glasgow.

Methane, the simplest hydrocarbon, is a gas that contributes directly to global warming, and is produced in the transport and production of coal, natural gas and oil. Livestock, landfills and agricultural practices also produce large amounts of the gas.

On Tuesday, the administration unveiled a plan that pulls together different sectors of the U.S. government — including the departments of energy, agriculture, transportation, housing and the interior –to cut emissions. This plan should bring the United States in line with a Global Methane Pledge, in which the world’s largest emitters aim to reduce overall methane emissions by 30% below 2020 levels by 2030.

“Cutting methane emissions is essential to keep global warming from breaching 1.5 C,” said Helen Mountford, vice president of climate and economics for the World Resources Institute. “This pledge from over 90 countries to cut methane emissions by at least 30% over the coming decade sets a strong floor in terms of the ambition we need globally. Strong and rapid action to cut methane emissions offers a range of benefits, from limiting near-term warming and curbing air pollution to improved food security and better public health.”

WATCH: Biden Says the U.S. is back to lead on climat​e change

These plans follow Monday’s announcements of new U.S. climate commitments that build on previous global agreements: the unveiling of plans for a $3 billion President’s Emergency Plan for Adaptation and Resilience (PREPARE) to tackle climate awareness, financing and adaptation efforts, which are part of Biden’s broader climate financing package. But it is not certain the U.S. leader can deliver on that promise, which still needs congressional approval.

Additionally, Biden touted a raft of domestically focused legislation that aims to shore up American infrastructure while also cutting greenhouse gas pollution by well over one gigaton by 2030.

That legislation has occupied the U.S. Congress for months, with members of the legislative body negotiating fiercely throughout — but ultimately failing to bring the matter to a vote before Biden left for the summit last week.

The U.S. has faltered on its own climate commitments, with former President Donald Trump announcing in 2017 that he was withdrawing the U.S. from the Paris Agreement. That took effect November 2020, but Biden rejoined the deal on his first day in office.

The president’s critics note that some of his administration’s climate commitments are not as large as those promised by other developed nations. 

China opts out

On Monday, China’s leader announced his nation’s plans to address climate change — a plan that critics said fell short of making any new commitments to reduce emissions.

“Specific implementation plans for key areas such as energy, industry, construction and transport, and for key sectors such as coal, electricity, iron and steel, and cement will be rolled out, coupled with supporting measures in terms of science and technology, carbon sink, fiscal and taxation, and financial incentives,” President Xi Jinping said in a written address to the climate summit Monday, according to a copy posted by China’s Xinhua news agency.

Xi called on developed nations to both “do more themselves” and support developing nations in their climate efforts.

This year’s summit builds on a legally binding agreement that 196 parties, including the U.S., Russia and China, signed six years ago in Paris. The international treaty commits those countries to embark on emissions cuts that aim to limit the planet’s warming to 1.5 degrees Celsius over preindustrial levels.

(VOA’s Chris Hannas contributed to this story.)

Taiwan Chip Giant to Expand to Japan

Taiwan Semiconductor Manufacturing Company (TSMC), one of the world’s largest chipmakers, has announced plans to build a new plant in Japan, a move experts say may help revive Japan’s declining chipmaking sector and bolster its economic security.

The new plant is slated to begin operation in 2024, said CEO C.C. Wei,

who announced the expansion. The operation will expand TSMC’s worldwide production while fostering Taiwan’s economic ties to Japan, according to Yukan Fuji, a Japanese newspaper.

The move comes as Japanese manufacturers and others eye Beijing’s intentions toward Taiwan, where most TSMC plants are located. Any disruption in Taiwan affecting TSMC production could strain the global supply chain to the snapping point.

“We have received strong commitment to supporting this project from our customers and the Japanese government,” said Wei.

The Japanese government intends to subsidize about half of TSMC’s roughly $8.81 billion project, according to TechTaiwan. 

Kazuto Suzuki, a University of Tokyo professor who focuses on public policy, told VOA Mandarin that it is “very important” that “Sony and Toyota’s parts manufacturer Denso is also invested in the joint construction. … Furthermore, TSMC’s products are tailored to demand. With Sony’s vast customer base, TSMC can establish a model of close communication with customers and create products with higher customer satisfaction.” 

TSMC’s plans to build a new plant in Japan are part of its global expansion.  

The chipmaker is already building a $12 billion facility in the U.S. state of Arizona, where production is expected to begin in 2024. The plant is slated to produce 5-nanometer chips, the latest in semiconductor technology.

Decreasing reliance on China

Expanding into Japan will bolster that country’s chipmaking. “We expect our country’s semiconductor industry to become more indispensable and self-reliant, making a major contribution to our economic security,” Japanese Prime Minister Fumio Kishida told reporters on October 14, after TSMC’s announcement.

“The increasingly tense relationship between Taiwan and China has increased geopolitical pressure on the supply chain, so the world is rebuilding the supply chain to break away from dependence on China,” Ruay-Shiung Chang, chancellor of Taipei University of Commerce, told VOA Mandarin. 

“From the perspective of risk management, Western countries and China will inevitably be polarized in the future, and many industry standards may become interchangeable,” he added.

Suzuki believes that TSMC’s plan will make the company an “economic and trade friendship ambassador” to Japan as the economic link between Tokyo and Beijing deteriorates. 

“Since the Trump administration, exports of semiconductors to China have been restricted. For example, Japan no longer cooperates with Huawei,” he said, referring to the Chinese tech multinational targeted by the U.S. for its close ties to Beijing. “So regardless of whether TSMC enters Japan or not, the semiconductor industry ties between Japan and China are a big problem, and there is currently no solution.” 

Impact on other chipmaking countries

Nikkei Asia reported that if TSMC accepted financing from the Japanese government, South Korea and other countries could file complaints with the World Trade Organization (WTO), citing the loss of semiconductor exports to subsidized plants in Japan. 

“How about South Korea’s subsidies for its own domestic [chipmakers]?” Chang said. The South Korean government said in May that it plans to offer tax incentives and state subsidies worth a combined $453 billion to chipmakers to meet the government’s goal of becoming a global leader in chip production, according to Yonhap, the South Korean news agency.

Chang pointed out that because TSMC is establishing a factory in Arizona, the U.S. would likely not support South Korea’s filing against Japan at the WTO.

However, a country seeking to file a complaint with the WTO often encounters difficulty proving the connection between its projected losses and the subsidies provided by the possible defendant countries, Chang added. Without that direct link, an action cannot proceed.

“The U.S. and EU (European Union) regarded China’s massive subsidies to support the semiconductor industry as a major issue, but they still failed to lodge a complaint with the WTO due to difficulties in producing evidence, ” said Chang.

“From a global perspective, TSMC’s establishment of a factory in Japan is of great help in increasing semiconductor supply capacity,” Suzuki said.  

Companies manufacturing chips solely for use in their own products is a model that market forces will eliminate, he added, and this will give TSMC, which makes chips usable by many manufacturers, a long-term advantage.

“However, the factory will not be fully operational until 2024, and there will be no immediate impact in the short term. The important thing is that Japan is not very dependent on Samsung’s [chips] because they are designed and manufactured for Samsung’s own products. Sony, Mitsubishi, Hitachi and other products rely on TSMC … more than Samsung, so the impact is very limited, ” Suzuki said.

Yahoo Halts Services in Mainland China

Yahoo said it stopped providing services in mainland China because of what it described as a difficult operating environment.

The U.S. web services provider said in a statement on its website the move took effect on November 1 “in recognition of the increasingly challenging business and legal environment.”

November 1 is the date on which China’s Personal Information Protection Law took effect. The law limits what information companies can compile and standardizes how it must be archived. Other content restrictions on internet companies also were recently imposed.

China previously blocked Facebook, Google and most other global social media sites and search engines. Users in China can still access these services by using a virtual private network (VPN). 

In October, Microsoft stopped providing its Linkedin business and employment service in China, citing a “more challenging operating environment and greater compliance requirements in China.”

Some information for this report came from The Associated Press and Reuters.

Australia Rejects French Claims of AUKUS Deal Deception

Australian Prime Minister Scott Morrison rejected accusations French President Emmanuel Macron made about a scrapped $37 billion submarine deal. Macron has recently said Morrison lied when abandoning the submarine deal before Australia joined a new security pact with the United Kingdom and the United States known by its acronym AUKUS. 

The AUKUS alliance and Australia’s cancelation of a lucrative defense contract in favor of U.S.-built nuclear submarines caught Paris off guard. France felt betrayed. In protest, France temporarily recalled its ambassadors from Washington and Canberra. Tensions remain. 

French President Emanuel Macron told reporters at the meeting of the G-20 grouping of industrialized nations that Australian Prime Minister Scott Morrison had been deceitful despite the two countries enjoying a close relationship. 

“When we have respect, you have to behave in line and consistently with this value,” Macron said to reporters.

Morrison quickly denied he had lied. He insisted he had explained to Macron in June that the submarines to be supplied by French company Naval Group were not going to meet Australia’s military requirements. 

“I was very clear that what was going to be provided to us was not going to meet our strategic interest,” Morrison said.

News reports in Australia have described the dispute between Australia and France as a diplomatic disaster for Canberra and that the “damage looks uncontrollable.” 

Australian Opposition Senator Penny Wong, the shadow foreign affairs minister, believes Australia has been embarrassed by the French president’s allegations. 

“We have got a reputation as a nation for being straight-shooters. That is Australia’s reputation internationally. We do what we say. Mr. Morrison’s failure to be upfront, his failure to, as President Macron says, tell the truth is damaging our interests,” Wong said.

Mark Kenny is a professor at the Australian Studies Institute at the Australian National University. He says rarely are world leaders so openly criticized by their peers. 

“This was really quite a rare level of candor that we see and a very abrupt denunciation of the integrity of a fellow world leader by Emanuel Macron and I thought that was extraordinary,” Kenny said.

U.S. President Joe Biden also conceded that the United States was “clumsy” in its negotiations for a new alliance with Britain and Australia, which cost France billions of dollars. 

The AUKUS pact will allow Australia to become only the seventh country to have nuclear-powered submarines. The new fleet is not expected to be in service for decades, forcing Australia to potentially lease or buy vessels from the United States or Britain in the meantime. 

Hope Eroding as COP26 Climate Pledges Fall Short

Hopes are already fading that the COP26 climate summit in Glasgow will result in any new deal for a significant cut in global greenhouse gas emissions, after China and Russia declined to attend the conference and India’s pledges fell short of expectations. 

The summit got under way Monday as dozens of world leaders addressed the delegates, defending their performances on climate action and in some cases presenting new emissions targets.

Over 25,000 delegates are attending the two-week conference, including heads of state, government ministers, nongovernmental organizations, official observers and media.

Hundreds of protesters and members of the public are also gathering outside the secure “Blue Zone” on the banks of Glasgow’s River Clyde. The area has become official United Nations territory for the duration of the summit. 

Scientists have warned that a failure to agree to much deeper cuts in greenhouse gas emissions will result in catastrophic and irreversible climate change. 

Global warning

U.N. Secretary-General Antonio Guterres set a grim tone in his address to world leaders. 

“Our addiction to fossil fuels is pushing humanity to the brink. We face a stark choice: Either we stop it, or it stops us. And it’s time to say ‘enough.’ Enough of brutalizing biodiversity. Enough of killing ourselves with carbon. Enough of treating nature like a toilet. Enough of burning and drilling and mining our way deeper. We are digging our own graves,” Guterres said. 

“The science is clear. We know what to do. First, we must keep the global goal of 1.5 degrees Celsius alive,” he added, referring to the goal of limiting the average global temperature rise to 1.5 degrees Celsius by the end of the century. 

Will that warning be heeded?

India is the world’s third-biggest polluter. Hopes were high ahead of the summit that Indian Prime Minister Narendra Modi would seek to grab the limelight in presenting ambitious new plans to cut emissions.

“Between now and 2030, India will reduce its total projected carbon emissions by 1 billion tonnes (metric tons). … By 2070, India will achieve the target of net-zero emissions,” Modi told delegates, describing the policies as “an unprecedented contribution by India towards climate action.” 

However, the target date of 2070 is 20 years later than the U.N. target of 2050. 

In his address Monday, U.S. President Joe Biden said “we only have a brief window” to fight climate change. Earlier this year, he had pledged that by the end of the decade, the U.S. would cut its greenhouse gas emissions by 50% or more below 2005 levels. 

While Biden was speaking in Glasgow, however, U.S. Senator Joe Manchin, a fellow Democrat, said he did not yet fully support the $1.75 trillion bill in Congress that included more than $550 billion in climate spending. 

The White House also released on Monday its plan to reach net-zero emissions by 2050.

No-shows 

Arguably, the biggest story of the summit is not what’s being said on stage but rather is who hasn’t shown up at all. President Xi Jinping of China, which is by far the world’s biggest emitter of greenhouse gases, is not attending the summit. Xi offered a written statement calling on richer nations to do more to support developing countries in dealing with climate change, but he made no new significant pledges to cut emissions. 

Xi’s absence is a major setback, said China analyst Martin Thorley of the University of Exeter. “Xi Jinping’s no-show at COP26 is an important reality check for those who expect enlightened climate policy from the Chinese Communist Party.” 

Thorley continued, “Whilst it is argued that authoritarian rule gives the leadership more scope to implement ambitious climate policy, it also gives the leaders greater capacity to block out civil society pressure that in other parts of the world is driving change. … Though there is genuine concern about the climate in some quarters within the Party, the threat to the CCP’s supremacy by power shortages mean that continued reliance on coal will be tolerated,” he wrote in an email to VOA. 

“That Xi Jinping addressed COP26 in writing only will be a massive disappointment to organizers and campaigners alike. Until very recently, China was considered a genuine leader on climate change,” Thorley added.

Others argue that COP26 can make significant progress without Xi.

“(Xi’s absence) could be probably because they don’t have too much else to offer,” said Manuel Pulgar-Vidal, head of climate and energy at the World Wildlife Fund and the former president of the 2014 COP20 climate summit in Lima, Peru. 

“And probably they would prefer to avoid the pressure of being in a COP (climate summit); that could be the reality. But let’s recognize that Minister Xie (Xie Zhenhua, China’s special climate envoy), it’s probably his tenth COP. He’s a top-level officer of the Chinese government — I think that is a good signal. But for sure, we are missing President Xi,” he added. 

President Vladimir Putin of Russia, which is the world’s fourth-biggest emitter of greenhouse gases, is also absent. 

Among climate campaigners at COP26, the disappointment is already palpable. 

Greta Thunberg, the Swedish climate activist who has inspired youth protests around the world, told a rally outside the summit, “This COP26 is so far just like the previous COPs. Add that has led us nowhere. They have led us nowhere. 

“Inside COP, there are just politicians and people in power pretending to take our futures seriously. Pretending to take the present seriously of the people who are being affected already today by the climate crisis. Change is not going to come from inside there,” she said. 

COP26 shouldn’t be written off so early, however, said Pulgar-Vidal. “To have finally a collective vision for the world that nobody’s doubting or questioning, I think it is a good thing. But now we need to have more clear actions, not only targets but more clear actions.”

Positives 

Not all hope was lost, however. According to The Associated Press, a coalition moved Monday to put $1.7 billion toward protecting Indigenous peoples and tropical forests in the coming four years. Involved are the governments of the U.S., United Kingdom, Norway, Germany and the Netherlands as well as 17 private investors including The Ford Foundation, the Bezos Earth Fund and Bloomberg Philanthropies. 

Amid the bleak warnings from the speakers at the summit, Max Blain, a spokesman for British Prime Minister Boris Johnson, said “we are seeing some positive signs so far” that leaders are understanding the seriousness of the situation, according to AP. 

“We expect to see countries to come forward with some more commitments” during the summit, Blain said. “We continue to encourage that those are ambitious, measurable targets that can be delivered particularly in the next decade.” 

The president of Spain, Pedro Sánchez, also vowed to increase his country’s climate finance by half by 2023 as part of a global effort by wealthy countries to help developing nations combat and adapt to the changing climate, the AP reported. 

World leaders will address the summit again Tuesday, before most head back to their home countries, while the negotiations continue at ministerial level. COP26 is due to finish November 12, but it could run longer if it looks as though the talks will succeed in reaching a new climate deal. 

Some information for this report came from The Associated Press. 

Success at COP26 Will Be ‘Touch and Go’ say British Officials

For months, British Prime Minister Boris Johnson and his aides have been raising expectations for the 2021 United Nations Climate Change Conference, also known as COP26, which they are hosting in Glasgow. But heading into the two-week gathering they have been sounding far less confident.

In Rome at the G-20 summit Saturday, Johnson said the chances of a big enough agreement emerging from COP26, one really capable of containing global warming, were not much better than 50-50.

At the opening ceremony Monday of the critical climate-change talks, Johnson warned fellow leaders from nearly 200 countries that humanity has “long since run down the clock on climate change” and he cautioned that if we don’t get serious today, “it will be too late for our children to do so tomorrow.”

Earlier his foreign secretary, Liz Truss, said there is no certainty anyone would see the action needed from global leaders. It is “touch and go,” she said, and there will be “really intense negotiations” between leaders over the coming days. The summit represents a “massive opportunity” to “hold these leaders to account,” she added.

A few months ago, Johnson, who by nature prefers the role of optimistic booster, appeared much cheerier about the prospects for COP26, talking breezily about how Britain will use the presidency of COP26 “to galvanize ambitious global action on climate change.” But British ministers and officials now admit it is uncertain whether Britain as host will be able to secure the deals adequate enough to curb irreversible climate change at COP26.

Under the Paris Agreement on climate change made at COP21, nations agreed on the need to limit warming to two degrees and ideally 1.5 above pre-industrial levels. It left them to develop their own action plans and to review them every five years.

At Glasgow, the summiteers will formally review the action plans and evaluate how successful they have been.

Falling short

The review will almost certainly highlight nations have fallen far short of their commitments and goals and that sobering assessment is partly at root of Johnson’s uncharacteristic gloom on the eve of COP26, say British officials.

While noting whatever is agreed at Glasgow “will never be enough to satisfy climate activists,” The Times of London newspaper editorialized Sunday: “You can almost hear the thudding of expectations such is the vigor with which they are being lowered ahead of the COP26 climate summit.”

One source of worry is the absence of two key global leaders. President Xi Jinping of China, the leader of the world’s biggest emitter of greenhouse gases, isn’t attending in person. And neither will Vladimir Putin of Russia, another big polluter.

Turkey’s Recep Tayyip Erdogan, who had been listed among the global leaders expected to speak at the conference Monday, pulled out at the last minute, traveling back to Turkey from the G-20 summit in Rome instead of heading to Glasgow, and giving no reason for his unscheduled return, according to Turkey’s state-owned Anadolu news agency. Later a dispute over security arrangements was cited by aides for his absence.

But the major source for alarm is the scale of the challenge and the huge scope of the action needed to be taken to curb the rise in temperature. “COP26 is a critical summit for global climate action,” says Anna Åberg, a research analyst at Britain’s Chatham House.

“To have a chance of limiting warming to 1.5 degrees, global emissions must halve by 2030 and reach ‘net-zero’ by 2050. The 2021 Intergovernmental Panel on Climate Change (IPCC) report underscores it is still possible to achieve the 1.5-degree-target, but only if unprecedented action is taken now,” she adds.

She explains that the action plans countries submitted in 2015 were not ambitious enough to limit global warming. The signatories of the Paris Agreement are expected to submit at Glasgow new pledges. One of the main ‘benchmarks for success’ in Glasgow is that as many governments as possible submit new plans and “when put together, these are ambitious enough to put the world on track for ‘well below’ 2 degrees, preferably 1.5.”

Eighty-six countries along with the European Union’s 27 member states have submitted new action plans.

“A successful outcome in Glasgow also requires developed countries to honor a promise they made back in 2009 of mobilizing $100 billion per year by 2020 to support climate action in developing countries. The official figures for 2020 will not be available until 2022, but it is clear the goal was not met last year,” she says.

On this score — as well as other key issues — the G-20 summit of leaders held Saturday and Sunday in Rome did not prompt optimism. Leaders of poorer and smaller nations had hoped to see far more emerge from the Rome summit.

There was progress in terms of a significant pledge to reach net zero emissions by around the middle of the century but Gaston Browne, prime minister of Antigua and Barbuda and chair of the Alliance of Small Island States, remained disappointed. “From what I’ve seen it appears we are going to overshoot 1.5C. We are very concerned about that,” he told reporters.

Sonam Wangdi, chair of the Least Developed Countries group, said: “The progress is definitely not enough up to now. We are a long way from a 1.5C pathway. We need them to ramp up ambition.”

Climate activists and scientists say the Glasgow conference needs to see a commitment to large and fast reductions in methane emissions, too, and much more detailed planning for adaptation and resilience so countries, developed and developing, are better able to withstand climate shocks and extreme weather events.

COP26 will set the climate agenda for decades to come and much will hinge on the developed countries stepping up and ratcheting up their efforts. But in the meantime, the leaders of the richer nations are also facing a cash crunch and an energy crisis, both partly thanks to the coronavirus pandemic, and some economists have been warning that in the pledge-making rush, Western political leaders are making climate promises they are unlikely to be able to keep without major economic damage and electoral consequences. 

The huge transformation that is going to be needed, and the large costs involved, most of which are likely to be shouldered by Western taxpayers and households, is a challenge for even the richest of countries to pull off. British economist Liam Halligan, among others, questions whether meeting ambitious climate action targets are possible without derailing economies already struggling to regain footing in the wake of a pandemic that has disrupted supply chains, roiled energy markets and boosted inflation.

Policymakers face a trade-off between the high upfront cost of moving quickly toward net zero carbon targets, and the long-term damage to economic growth caused by climate change, if they delay action, say analysts. Glasgow will likely highlight that dilemma.

Biden Opens Climate Talks with Set of New US Climate Commitments

U.S. President Joe Biden on Monday announced a range of American commitments aimed at curbing global warming, as leaders from more than 100 countries gathered in Glasgow for the U.N. Climate Change Conference.

“The United States will be able to meet the ambitious target I set at the Leaders Summit on climate back in April, reducing U.S. emissions by 50 to 52 percent below 2005 levels by 2030,” Biden said. “We will demonstrate to the world that the United States is not only back at the table, but hopefully leading by the power of our example. I know it hasn’t been the case, and that’s why my administration is working overtime to show that our climate commitment is action, not words.”

Those new goals include a set of new U.S. climate commitments that build on previous global agreements: the unveiling of plans for a $3 billion President’s Emergency Plan for Adaptation and Resilience to tackle climate awareness, financing and adaptation efforts, and a raft of domestically focused legislation that aims to shore up American infrastructure while also cutting greenhouse gas pollution by well over one gigaton in 2030. 

That legislation has occupied the U.S. Congress for months, with members of the legislative body negotiating fiercely throughout — but ultimately, failing to bring the matter to a vote before Biden left for the summit last week.  

 

The U.S. has previously faltered on its own climate commitments, with former President Donald Trump announcing in 2017 that he was withdrawing the U.S. from the Paris Agreement. That took effect in November 2020, but Biden rejoined the deal on his first day in office.  

 

Biden’s critics note that some of his administration’s climate commitments are not as large as those promised by other developed nations.   

 

Biden also said, late Sunday, that he is “disappointed” that China and Russia have yet to come up with new commitments to reduce their greenhouse gas emissions.

 

“The disappointment relates to the fact that Russia and, and including not only Russia, but China, basically didn’t show up in terms of any commitments to deal with climate change,” Biden said.  “And there’s a reason why people should be disappointed in that. I found it disappointing myself.”  

 

China, the world’s largest emitter of carbon dioxide and other greenhouse gases that cause global warming, announced last Thursday it has no new significant goals to reduce climate-changing emissions.

On Monday, China’s government announced that President Xi Jinping will only address the summit in the form of a written statement.  

This year’s summit builds on a legally binding agreement that 196 parties — including the U.S., Russia and China — signed six years ago in Paris. The international treaty commits those countries to embark on emissions cuts that aim to limit the planet’s warming to 1.5 degrees Celsius over pre-industrial levels.  

“We go into (the summit) with roughly 65% of the world’s economy in line with a 1.5 degree commitment, with still some significant outliers, one of those significant outliers being China, who will not be represented at the leader level at COP-26,” said U.S. National Security Advisor Jake Sullivan on Monday. “And who we do believe has an obligation to step up to greater ambition as we go forward

Administration officials have repeatedly described China as the U.S.’ biggest adversary and said the relationship between the two powers is a challenging one. But, Sullivan said, that should have no impact on this globally important issue.

“They are perfectly well capable of living up to their responsibilities,” he said. “It’s up to them to do so. And nothing about the nature of the relationship between the U.S. and China, structurally or otherwise, impedes or stands in the way of them doing their part.”

But, said analyst Sarang Shidore, director of studies at the Quincy Institute for Responsible Statecraft in Washington, this may prove to be a stumbling block.  

“Expectations are low for COP-26 due to two reasons,” he said. ”One is that the U.S.-China tensions continue to be very sharp in the Biden period, and this is detracting from cooperation on climate change.”

And, he said, wealthy nations, while making large promises themselves, can’t do this on their own.   

“Countries are unable to get each other to raise ambition, and wealthy countries are playing a weak game on the sort of robust and urgent financing commitments that the Global South is due, not as charity, but as a right,” he said.  

The summit continues through Tuesday. 

Barclays CEO Staley Resigns After Epstein Probe

Barclays chief executive Jes Staley is leaving the bank after a dispute with British financial regulators over how he described his ties with convicted sex offender Jeffrey Epstein.

Staley will be replaced as CEO by Barclays’ head of global markets C.S. Venkatakrishnan, who on Monday pledged to continue his predecessor’s strategy.

Staley’s shock departure comes after Barclays was informed on Friday of the unpublished findings of a report by Britain’s Financial Conduct Authority and the Prudential Regulatory Authority into Staley’s characterization of his relationship with Epstein, who killed himself in jail in August 2019 while awaiting trial on federal charges related to sex trafficking.

“In view of those conclusions, and Mr Staley’s intention to contest them, the Board and Mr Staley have agreed that he will step down from his role as Group Chief Executive and as a director of Barclays,” the bank said.

“It should be noted that the investigation makes no findings that Mr Staley saw, or was aware of, any of Mr Epstein’s alleged crimes, which was the central question underpinning Barclays’ support for Mr Staley following the arrest of Mr Epstein in the summer of 2019.” 

Barclays shares fell 2% following the announcement.

‘I thought I knew him well’

Staley dealt with Epstein during his long career at JPMorgan, where Epstein was a major private banking client until 2013.

A college dropout who styled himself as a brilliant financier, Epstein socialized in elite circles, including former and future U.S. presidents. In 2008, he was registered as a sex offender but continued to maintain ties with powerful players in business and finance.

The New York Times reported in 2019 that Epstein had referred “dozens” of wealthy clients to Staley. It also reported that Staley visited Epstein in prison when he was serving a sentence between 2008-09 for soliciting prostitution from a minor, while Bloomberg reported he visited Epstein’s private island in 2015.

Staley told reporters last February that his relationship with Epstein had “tapered off significantly” after he left JPMorgan in 2013, and that he had not seen the disgraced financier since taking over Barclays in 2015.

“I thought I knew him well, and I didn’t. I’m sure with hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein,” he said at the time.

Epstein’s links with prominent men have come back to haunt some of them. Leon Black, the billionaire investor, stepped down from Apollo Global Management, the private equity firm he co-founded, earlier this year after an outside review found he had paid Epstein $158 million for tax and estate planning.

Britain’s Prince Andrew has quit royal duties over his associations with Epstein, andnMicrosoft co-founder Bill Gates has said it was a “huge mistake” to spend time with him.

The FCA and PRA said in a statement they could not comment further on the Epstein investigation, which was launched after JPMorgan provided the regulators with emails between Epstein and Staley from Staley’s time as head of JPMorgan’s private bank, the Financial Times reported last year.

Right strategy

Staley told staff in an internal memo seen by Reuters that he did not want his ‘personal response’ to the investigations to be a distraction.

“Although I will not be with you for the next chapter of Barclays’ story, know that I will be cheering your success from the sidelines,” he said.

Staley has 28 days to formally notify the FCA that he is contesting its findings, after which an independent committee inside the watchdog will uphold or reject its conclusions, a source familiar with the process told Reuters.

If upheld, the probe passes to an independent Upper Tribunal which again can back or reject the findings, the source said, a process that could take months.

Venkatakrishnan, who followed Staley to Barclays from JPMorgan and is known as Venkat, told staff on Monday the strategy put in place by his predecessor was “the right one,” according to a separate memo also seen by Reuters.

Venkat added that he would announce changes to the organization of the investment bank in the coming days, likely to mean filling his previous role and any other resulting vacancies, sources at the bank said.

Barclay’s share price has fallen 9% since Staley’s tenure began six years ago, a period not without controversy.

His greatest success, insiders and analysts said, was to fight off a campaign launched by activist investor Edward Bramson in 2018 to have Staley removed on the grounds that Barclays’ investment bank was underperforming and should be cut back.

Bramson sold his stake earlier this year, and the bank’s recent results have seen the investment bank perform strongly.

Also in 2018, Britain’s financial regulators and Barclays fined Staley a combined $1.50 million after he tried to identify a whistleblower who sent letters criticizing a Barclays employee.

G-20 Ends Without Agreement to Phase Out Coal

G-20 leaders concluded their two-day summit in Rome on Sunday with an agreement to work to reach carbon neutrality ‘by around mid-century’ and pledged to end financing for coal plants abroad. White House Bureau Chief Patsy Widakuswara as this report from Rome.

North Macedonia PM Zaev Announces Resignation

Prime Minister Zoran Zaev announced his resignation late Sunday following the heavy defeat of his governing Social Democratic Union in North Macedonia’s local elections.

“The responsibility for this outcome is mine and I’m resigning as prime minister and as leader of the Social Democratic Union,” Zaev said at a news conference at party headquarters.

Zaev came out against early national elections. Instead, he will support a Social Democrat-led government under a new leader.

Although official results were not yet in from the local elections, Zaev conceded defeat in the most important contest — the mayor’s race in the capital, Skopje, with incumbent Petre Shilegov losing to center-right challenger Danela Arsovska.

Candidates supported by the main opposition party, the center-right VMRO-DPMNE, appeared set to win at least half of the country’s 80 municipalities, with the Social Democrats set to win fewer than 20.

At the last municipal elections, in 2017, the Social Democrats won 57 contests and VMRO-DPMNE only five.

 

 

With No Sign of Eruption’s End, Ash Blankets La Palma Island

A volcano on the Spanish island of La Palma that has been erupting for six weeks spewed greater quantities of ash from its main mouth Sunday, a day after producing its strongest earthquake to date.

Lava flows descending toward the Atlantic Ocean from a volcanic ridge have covered 970 hectares (2,400 acres) of land since the eruption began on Sept. 19, data from the European Union’s satellite monitoring service, showed. On the way down the slope, the molten rock has destroyed more than 2,000 buildings and forced the evacuation of over 7,000 people. 

But authorities in the Canary Islands, of which La Palma is part, have reported no injuries caused by contact with lava or from inhaling the toxic gases that often accompany the volcanic activity.

Experts said that predicting when the eruption will end is difficult because lava, ash and gases emerging to the surface are a reflection of complex geological activity happening deep down the earth and far from the reach of currently available technology.

The Canary Islands, in particular, “are closely connected to thermal anomalies that go all the way to the core of the earth,” said Cornell University geochemist Esteban Gazel, who has been collecting samples from the Cumbre Vieja volcano.

“It’s like a patient. You can monitor how it evolves but saying exactly when it will die is extremely difficult,” Gazel said. “It’s a process that is connected to so many other dimensions of the inside of the planet.”

Signs monitored by scientists —soil deformation, sulfur dioxide emissions and seismic activity— remained robust in Cumbre Vieja. The Spanish Geographic Institute, or IGN, said that a magnitude 5 quake in the early hours of Saturday was not just felt on La Palma, but also in La Gomera, a neighboring island on the western end of the Canary Islands archipelago.

IGN said the ash column towering above the volcano reached an altitude of 4.5 kilometers (15,000 feet) on Sunday before heavier wind scattered it. Many nearby towns and a telescope base further north that sits on a mountain at 2,400 meters above sea level (7,800 feet) were covered in a thick layer of ash.

The eruption has also turned the island into a tourist attraction, especially as many Spaniards prepared to mark All Saints Day, a Catholic festivity that honors the dead, on Monday.

Local authorities said some 10,000 visitors were expected over the long weekend and 90% of the accommodations on La Palma were fully booked. A shuttle bus service for tourists wanting a glimpse of the volcano was established to keep private cars off the main roads so emergency services could work undisturbed.