Kamis, 30 Mei 2019

Generate - May 30, 2019 - Axios

An electric ferry in France
An all-electric, zero-emission ferry in Lorient, France. Photo: Jean-Sebastien Evrard/AFP/Getty Images

Ships are the latest mode of transportation to see electric upgrades as the maritime industry faces increased pressure to reduce greenhouse gases, writes Axios Expert Voices contributor Maggie Teliska.

The big picture: Passenger ferries are ideal for electric propulsion using current battery technology, which can reduce water and air pollution while providing a quiet, vibration-free trip. Short routes with frequent stops along populated shorelines offer ample opportunities to charge the battery packs.

Where it stands: Globally, there were 185 battery-powered vessels operating or scheduled for delivery in 2018, 58 of which were passenger ferries. Norway introduced the first all-electric ferry, named the MF Ampere, in 2015 to shuttle passengers between villages in the fjords.

What's new: Maid of the Mist plans to launch 2 all-electric, zero-emission boats in September on the U.S. side of Niagara Falls — the first domestically built all-electric boats used for tourists in the U.S.

  • Washington State Ferries will introduce a 150-passenger hybrid ferry later this year in Puget Sound that runs on both diesel and battery power, using up to 60% less fuel than diesel counterparts. 
  • Also this year, New York City plans to introduce a 150-person ferry to shuttle commuters across the East River, from Brooklyn to Manhattan.

Read more

Teliska is a technical specialist at Caldwell Intellectual Property Law and CTO of Regent Power. She is also a member of GLG, a platform connecting businesses with industry experts.

Let's block ads! (Why?)


https://www.axios.com/newsletters/axios-generate-381c9392-75df-476d-834f-f01e216b3a55.html

2019-05-30 12:33:50Z
52780305332490

Investors Brace for a New Cold War That Will 'Last Our Careers' - Bloomberg

[unable to retrieve full-text content]

  1. Investors Brace for a New Cold War That Will 'Last Our Careers'  Bloomberg
  2. Ray Dalio warns China restricting rare earth metals would be 'major escalation' of trade war  CNBC
  3. Stocks Have Had Enough Of The Bond Rally  Seeking Alpha
  4. Dalio Sees a 'Risky Time' Ahead in U.S.-China Trade Conflict  Bloomberg
  5. Ray Dalio says brinksmanship is pushing U.S.-China conflict to a ‘risky’ level  MarketWatch
  6. View full coverage on Google News

https://www.bloomberg.com/news/articles/2019-05-30/investors-brace-for-a-new-cold-war-that-will-last-our-careers

2019-05-30 09:10:00Z
52780305807892

Safe Or Scary? The Shifting Reputation Of Glyphosate, AKA Roundup - NPR

John Draper pours glyphosate into the tank of his sprayer at the University of Maryland's Wye Research and Education Center. Dan Charles/NPR hide caption

toggle caption
Dan Charles/NPR

John Draper and I are sitting in the cab of a tractor on the research farm he manages for the University of Maryland, alongside the Chesapeake Bay. Behind us, there's a sprayer.

"So, away we go!" Draper says. He pushes a button, and we start to move. A fine mist emerges from nozzles on the arms of the sprayer.

We're spraying glyphosate, killing off this field's soil-building "cover crop" of rye before planting soybeans.

Farmers have been using this chemical, often under the trade name Roundup, for about four decades now.

But now it's under fierce attack, accused of causing cancer. In three civil cases so far, U.S. juries have ordered Roundup's inventor, Monsanto, now owned by Bayer, to pay enormous damages to cancer survivors. Thousands more lawsuits have been filed.

For this chemical, and for Monsanto, it's a stunning change in fortunes.

Farmers felt that they could spray glyphosate with a clear conscience. It doesn't persist in the environment as much as, say, DDT did. It doesn't build up in groundwater like another widely used herbicide, atrazine. And it's certainly less toxic than some alternatives.

"If we were spraying Gramoxone [the trade name for paraquat, another herbicide], even for you to be standing next to the sprayer, you'd have to have a respirator on. I'd have to wear a respirator even in the tractor, spraying," says Draper.

Monsanto started selling Roundup in 1974. For 20 years, it didn't attract much attention. That was Act 1 of the glyphosate drama: the quiet years.

Act 2 began in the late 1990s.

In 1996, Monsanto started selling genetically modified crops, or GMOs. They were modified so they could tolerate glyphosate. This meant that farmers could now spray this chemical right over their "Roundup Ready" soybeans, corn and cotton, and the crops would be fine but the weeds would all die.

It was a farming revolution built on glyphosate. Monsanto quickly became the world's biggest seed company. And farmers started spraying a lot more Roundup. Sales of the chemical increased more than ten-fold.

It all happened so fast that it scared a lot of people. There were anti-GMO protests around the world, and glyphosate came under increasing scrutiny.

A pedestrian walks past anti-glyphosate art in Popayán, Colombia. Glyphosate has been deployed in Colombia to wipe out coca and poppy crops. Dan Charles/NPR hide caption

toggle caption
Dan Charles/NPR

The International Agency for Research on Cancer, part of the World Health Organization, decided to carry out a new assessment of glyphosate's risks.

On March 20, 2015, IARC announced its conclusion: Glyphosate is "probably carcinogenic to humans."

That conclusion rests on three kinds of studies. First, IARC found "strong evidence" that glyphosate can damage DNA in cells. This kind of damage, inducing mutations, is the first step in causing cancer. Second, there are studies showing that when mice ate glyphosate, they got more tumors. Kate Guyton, a senior toxicologist at IARC, told reporters at a news conference that "these two studies gave sufficient evidence of cancer in animals."

Finally, IARC says there's "limited evidence" that people exposed to glyphosate had higher rates of a particular kind of cancer — non-Hodgkin lymphoma.

Guyton has been studying the causes of cancer for decades. Nothing she has ever done, she says, provoked as much of a reaction as the glyphosate announcement. "The Internet kind of exploded," she says.

Anti-GMO groups felt vindicated. Monsanto's top executives were furious and launched a public relations campaign attacking IARC and its report.

And in the small town of Orange, Va., a personal injury lawyer named Michael Miller started lining up clients — people with non-Hodgkin lymphoma who'd used Roundup. "I decided that these people needed a voice in the courtroom," he says.

The scientific picture got more complicated, though. Other government agencies, including the U.S. Environmental Protection Agency and the European Food Safety Authority, took a fresh look at glyphosate. And they concluded that it probably is not giving people cancer.

David Eastmond, a toxicologist from the University of California, Riverside, helped conduct one of these glyphosate reviews for another part of the World Health Organization, the Joint FAO/WHO Meeting on Pesticide Residues.

"From my reading of things, if glyphosate causes cancer, it's a pretty weak carcinogen, which means that you're going to need pretty high doses in order to cause it," he says.

Eastmond says that there are several reasons for this apparent disagreement between IARC and the other agencies.

First, IARC just looks at whether glyphosate can cause cancer; regulators, on the other hand, have to decide whether it actually will, considering how much of it people are exposed to.

Second — and most important, according to Eastmond — different agencies considered different evidence. Eastmond's committee and regulatory agencies like the EPA considered a large number of studies that aren't publicly available because Monsanto paid for them and submitted them to the agencies. "I have never seen a chemical with as many animal cancer studies as glyphosate," Eastmond says.

IARC, however, didn't look at most of this research because it accepts only studies that are publicly available. This allows any other scientist to see exactly what IARC's conclusions are based on.

Eastmond, for his part, thinks company-financed studies are credible and valuable, despite the potential conflict of interest for companies carrying out those studies. The labs, he says, have to follow strict guidelines.

Finally, scientists sometimes look at the same data and disagree about what it means. Eastmond says that he and Guyton had "animated discussions" about some of the data. "We just evaluated the evidence differently, but, you know, these are honest disagreements [among] people who I think are well-meaning," Eastmond says.

Then Act 3 arrived. Glyphosate went to court. There were three civil trials in or near San Francisco.

Lawyers for Bayer, which now owns Monsanto, repeatedly reminded jurors that regulatory agencies had concluded that glyphosate is not a cancer risk.

Lawyers for the cancer victims, though, suggested that those same regulators couldn't be trusted because they'd been manipulated or fooled by Monsanto.

Miller and his legal team showed the juries a whole collection of internal Monsanto emails. In one, company executives described phone calls with an official at the EPA. As Miller describes it, the official said, "I don't need to see any more studies. I'm going to declare Roundup safe, and I'm going to stop another agency from looking at it."

Another Monsanto executive discussed ghostwriting papers on glyphosate's safety that scientists could publish under their own names.

"I think the jury was rightfully offended," Miller says.

All three trials ended with resounding verdicts in favor of the cancer victims. The juries ordered Bayer to pay huge punitive damages. In the most recent case, the damages totaled $2 billion.

Bayer is appealing these verdicts — and the damages probably will be reduced. But more lawsuits are waiting. The total value of Bayer's stock has fallen $40 billion since the first verdict was announced.

Alexandra Lahav, a professor at the University of Connecticut School of Law, says that one lesson of this case so far is that attempts to get favorable decisions from regulators can backfire in court.

"They then open themselves up for the jury to say, 'Wait a minute — you're trying to convince the regulator not to regulate you, and now you want me to believe that the regulator is completely objective,' " Lahav says.

When regulators are seen as weak or ineffectual watchdogs, she says, their seal of approval also carries less weight with the public — and with juries.

The next glyphosate trial is set for August in St. Louis.

Let's block ads! (Why?)


https://www.npr.org/sections/thesalt/2019/05/30/727914874/safe-or-scary-the-shifting-reputation-of-glyphosate-aka-roundup

2019-05-30 09:00:00Z
52780305965488

'Molecules of freedom': US Energy Department tries rebranding natural gas - ABC News

Let's block ads! (Why?)


https://abcnews.go.com/Politics/molecules-freedom-us-energy-department-rebranding-natural-gas/story?id=63366255

2019-05-30 07:47:00Z
52780305332490

Fears of prolonged trade war weigh on Asia stocks; bonds rally - Investing.com

© Reuters. A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing © Reuters. A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing

By Shinichi Saoshiro

TOKYO (Reuters) - Asian stocks tracked Wall Street losses on Thursday as the latest exchanges between Beijing and Washington signaled the heightened risk of a prolonged trade war, stoking investors' concerns about the impact on global economic growth.

European stock futures were higher in early trade, trimming some losses after falling sharply the previous day. The pan-region were up 0.46%, German edge up 0.34% and futures gained 0.25%.

"We oppose a trade war but are not afraid of a trade war. This kind of deliberately provoking trade disputes is naked economic terrorism, economic chauvinism, economic bullying," Chinese Vice Foreign Minister Zhang Hanhui said, when asked about the trade war with the United States.

His comments followed reports from Chinese newspapers that Beijing could use rare earths to strike back at Washington after U.S. President Donald Trump remarked he was "not yet ready" to make a deal with China over trade.

As investors switched out of equities, safe-haven assets such as government bonds found favor, with yields on German benchmark debt approaching record lows.

The fell 0.7% and Hong Kong's lost 0.4%.

Japan's was down 0.5% and Australian stocks shed 0.85%.

MSCI's broadest index of Asia-Pacific shares outside Japan slipped to a fresh four-month low before finding a bit of traction to edge up 0.1%.

"The equity markets are in the midst of pricing in a long-term trade war, with participants shaping their portfolios in anticipation of a protracted conflict," said Soichiro Monji, senior strategist at Sumitomo Mitsui DS Asset Management.

"The upcoming G20 summit could provide the markets with relief, as the United States and China could use the event to begin negotiating again over trade."

The G20 meeting is set for June 28-29 in Japan.

Observers elsewhere expressed less optimism toward the G20 meeting.

"It seems to us that a Trump-Xi meeting on the sidelines of the G20 meeting is more wishful thinking than hard political reality," wrote Marc Chandler, chief market strategist at Bannockburn Global Forex. "This is a moment that defines before and after."

Amid the flight-to-safety, Germany's 10-year bond yield fell to a three-year trough of minus 0.179% overnight. A drop below minus 0.200% set in 2016 would take the yield to a record low.

Spanish and Portuguese 10-year yields fell to record lows as deeply negative German Bund yields have encouraged investors to look elsewhere for returns. [GVD/EUR]

The stood at 2.267% after falling to a 20-month low of 2.210% on Wednesday.

Notwithstanding lower Treasury yields, the against a basket of six major currencies was steady at 98.085 and in reach of a two-year peak of 98.371 set last week, with the greenback serving as a safe haven.

The euro was a shade higher at $1.1137, pulling back slightly following three successive days of losses.

The dollar was little changed at 109.660 yen after bouncing back from a two-week low of 109.150 brushed on Wednesday.

Oil prices rose modestly after an industry report showed a decline in inventories that exceeded analyst expectations.

The rise followed volatile trading on Wednesday, when oil prices fell to near three-month lows at one point as trade war fears gripped the commodity markets.

U.S. crude futures were up 0.66% at $59.20 per barrel after brushing $56.88 the previous day, their lowest since March 12.

added 0.37% to $69.71 per barrel.

Trade worries have weighed on oil but supply constraints linked to the Organization of the Petroleum Exporting Countries' output cuts and political tensions in the Middle East have offered some support.

Let's block ads! (Why?)


https://www.investing.com/news/stock-market-news/fears-of-prolonged-trade-war-weigh-on-asia-stocks-bonds-rally-1882426

2019-05-30 05:43:00Z
CBMidmh0dHBzOi8vd3d3LmludmVzdGluZy5jb20vbmV3cy9zdG9jay1tYXJrZXQtbmV3cy9mZWFycy1vZi1wcm9sb25nZWQtdHJhZGUtd2FyLXdlaWdoLW9uLWFzaWEtc3RvY2tzLWJvbmRzLXJhbGx5LTE4ODI0MjbSAQA

Rabu, 29 Mei 2019

The Bond Market Is Giving Ominous Warnings About the Global Economy - The New York Times

You know the moment in a horror movie when the characters are going about their business as normal and nothing bad has happened to them yet, but it feels as if there are ominous signs everywhere that only you, the viewer, realize?

That’s what watching global financial markets the last couple of weeks has felt like.

In a lot of ways, nothing looks particularly wrong. As of noon Wednesday, the S&P 500 was down about 1.2 percent, falling sharply for the second consecutive session, but over all is down only about 6 percent from its early May high. The unemployment rate is at a five-decade low. With major companies nearly done releasing their first-quarter results, 76 percent had results above expectations.

But along the way, global bond prices have soared, driving interest rates down sharply. Ten-year Treasury bonds are yielding only 2.22 percent as of midday Wednesday, down a full percentage point since November 2018. The outlook for inflation in the years ahead is falling as well, as are the prices of oil and other commodities.

Most significantly, the fall in longer-term bond yields has not been matched by a fall in shorter-term rates. For example, a 30-day Treasury bill is currently yielding 2.35 percent — meaning you can earn more on your money tying it up for a month risk-free than you can tying it up for a full decade.

This is not normal. It is called an inverted yield curve, and historically it has been viewed as a sign of a recession in the offing. At a minimum, it indicates that bond investors believe the Federal Reserve will soon need to cut interest rates — in effect, that they overshot with their four rate increases last year.

And there is a soft underbelly to some of the good economic data of late. Orders for capital goods like business equipment fell 0.9 percent in April, suggesting companies may not be in an expansionary mood. The Institute for Supply Management’s index of activity at manufacturing companies fell sharply in the most recent reading, though it remained in expansion territory.

The financial markets don’t always tell a tidy little story about what is happening, but here’s a theory about reconciling the apparent calm in the economy with the many worrying signs.

The breakdown in trade negotiations with China and the imposition of tariffs on Chinese goods are part of the story, but only a part.

Businesses have weathered escalating tariffs for two years now, and while tariffs can be costly, they do not need to wreck the economy. After all, prices for products fluctuate for all sorts of reasons, and market economies are pretty good at adjusting.

But what has happened in the last few weeks involves the specter of a longer, more painful form of damage. There have been signs that the world’s two largest economies might not simply have tensions and a few tariffs, but could be heading toward a broader split.

In a sense, economists may have been analyzing the trade war too narrowly, merely by calculating the cost of tariffs and where those costs may show up.

The potential long-lasting consequences are harder to model.

What if American regulators try to cut off Chinese companies’ access to Wall Street and its vast pool of financing, as some China hawks are advocating? What if China cuts off exports of the “rare earths” materials that are crucial to advanced manufacturing in the United States? Will the Trump administration’s ban of the technology giant Huawei be the first step toward a bifurcation of today’s global internet into American and Chinese spheres?

Or it could even be this simple: If there is a slowdown in the Chinese economy that causes its demand for oil and other commodities to fall, American makers of those commodities could face pain over and above that caused by tariffs directly. Falling global commodity prices would pull the world economy even further into its deflationary rut.

That last story is particularly consistent with the swings in markets this month. Because tariffs tend to increase consumer prices, you might expect the escalating trade war to cause investors’ expectations for inflation to rise.

Yet the gap in prices between bonds that are indexed to inflation and those that are not suggests that investors envision annual inflation of 1.6 percent over the next five years, down from 1.8 percent at the start of May.

There are further signs of trouble from around the world: threats of conflict with Iran, missile tests in North Korea. European politics is a mess.

It can be a mistake to assume that financial markets are responding to the latest geopolitical headlines. But put it all together, and there seems less of a mystery why bond investors are in a more pessimistic mood than the recent economic and earnings data might suggest makes sense.

It is premature to assume that a recession or a geopolitical crisis is imminent. You could imagine that U.S.-China relations will enter another period of détente, with the Federal Reserve taking a precautionary interest rate cut, and that the economy and markets will once again be off to the races.

In other words, we don’t know yet if this is a horror movie or a comedy, but in the months ahead it seems we’ll find out.

Let's block ads! (Why?)


https://www.nytimes.com/2019/05/29/upshot/the-bond-market-is-giving-ominous-warnings-about-the-global-economy.html

2019-05-29 15:38:53Z
52780305442062

Canada Goose Stock, Capri Stock, Abercrombie & Fitch Dived On Earnings Reports - Investor's Business Daily

[unable to retrieve full-text content]

  1. Canada Goose Stock, Capri Stock, Abercrombie & Fitch Dived On Earnings Reports  Investor's Business Daily
  2. What's moving markets today: Live updates  CNN
  3. Abercrombie & Fitch to close 3 more flagship stores as company shares drop  Fox Business
  4. Abercrombie & Fitch Sinks Following Same-Store Sales Miss  TheStreet.com
  5. Abercrombie & Fitch tanks 23% on weak same-store sales, says 3 big flagship stores to close  CNBC
  6. View full coverage on Google News

https://www.investors.com/news/canada-goose-earnings-canada-goose-stock-capri-earnings-vfc-earnings/

2019-05-29 15:00:00Z
52780304804146