UN chief called for more taxes on fossil fuel industry – Quartz
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UN chief António Guterres has called for more taxes on the fossil fuel industry. Polluters must pay, he said in an address at the 77th United Nations General Assembly. Meanwhile, 200 NGOs sent an open letter to world leaders calling for action on the global hunger crisis. (Sign up for our UNGA newsletter to stay up to date.)
Four occupied regions of Ukraine have announced their intention to vote on joining Russia. Ukraine and Western nations rejected the annexation movement as illegal and a sham.
Germany will nationalize the gas giant Uniper. A total of 8 billion euros (8 billion dollars) will be injected into the country’s largest buyer of Russian gas to support a struggling energy sector.
More than 130,000 people in Japan still lack electricity. Typhoon Nanmadol, which hit the country over the weekend, also damaged a space center.
Spotify has launched its audiobook business. The pay-per-download service has more than 300,000 titles available.
Shanghai launched a $257 billion investment in infrastructure. Eight projectsincluding a new transport hub and a natural park, will aim to revive the covid-affected economy.
The US Federal Reserve is determined to rein in inflation, even if it takes a huge hike in interest rates to do it.
After the end of a two-day meeting today (21 September), the Fed is expected to raise the interest rate by at least 75 basis points (0.75%) –like the last two times-otherwise a greater 100 basis points. The Fed is playing the numbers game to try to beat inflation, but there are a lot of other numbers at play:
8.3%: US inflation rate in August well above Fed’s 2% inflation target
55%: The likelihood of a U.S. recession within 12 months, according to CNBC’s July survey of 30 fund managers, analysts and economists
5.43%: The average interest rate in the United States between 1971 and 2022
Airbnb is not worried about a recession
Getting inflation under control is not a major concern for rental giant Airbnb. In fact, Nate Blecharczyk, the company’s co-founder and chief strategy officer, told Quartz he thinks a recession might even be good for the company.
Airbnb, after all, was founded on the cusp of the Great Recession in 2008, when many people were losing both their jobs and their homes. Renting out a spare bedroom or an entire house or apartment has proven to be an easy way for people to supplement their income when money is tight, and might come in handy this time around. -this.
And while it’s true that some travelers may forgo vacations as their cost of living rises, Airbnb’s bets on remote working and its expanded listings for digital nomads could offset that. According to Blecharczyk, changes in work and lifestyle trends are already impacting his business.
What would a climate utopia look like?
Imagine: it’s the year 2057 and no life has been spared from the realities of a warming globe. Where are the millions of people going who need new shelter?
There’s a place they might be heading to: Leeside, USA. It’s the imagined climate utopia of our Welcome to Green Haven series, which examines how governments and thinkers anticipate the effects of mass migration on society. Should you listen to what Leeside Mayor Gabriella de León has to say about new migrants first, or choose where to develop housing? Whatever you start, do it soon. Climate migration will only become a more pressing issue as the warmer years pass.
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