1 This is a sample of a cookstove that has been certified by the testing labaratory installed at Rwanda Standards Board on August 19, 2021 (Photo by The New Times?) Rwanda is stepping into the global carbon credit market in a smart and structured way. By turning its climate-friendly actions into something that can be sold, government hopes to bring in new income and support green development across the country. This is more than an environmental story—it’s about how Rwanda is finding new ways to grow its economy while also protecting the planet. What Are Carbon Credits? To understand what…
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President Trump has doubled the rate on foreign metals to 50%, saying the levies weren’t high enough to help the U.S. industry. Source link
Home builders, car manufacturers and can makers are among those that will see higher prices for materials. Those companies could charge customers more. Source link
Public transit may be in crisis nationwide — funding challenges, wavering political support, cuts in routes, you name it — but one constituency is doubling-down on its support. And even, in one recent case, taxing itself to bolster service.Students, whose incomes range from low to non-existent, are increasingly fighting for good transit as the key to making their lives affordable.Beginning this fall, for example, all UC Berkeley students will pay $229 annually to receive the BayPass, which provides unlimited access to 24 transit agencies in the San Francisco Bay Area. The fee may sound high, but it improves on an…
(June 13): The S&P 500 and Nasdaq edged higher on Thursday as Oracle’s results boosted optimism around artificial intelligence (AI), offsetting concerns around rising tensions in the Middle East and a drop in Boeing shares. Oracle shares shot up nearly 14% to record highs after the cloud service provider raised its annual revenue growth forecast, driven by strong demand for its AI-related cloud services. Boeing declined 5% after an Air India 787-8 Dreamliner jet crashed minutes after taking off in India’s western city of Ahmedabad, killing more than 200 people. “I think it will be important to see whether the…
WASHINGTON — (AP) — The average rate on a 30-year U.S. mortgage fell modestly for the second straight week, but home borrowing costs remain elevated.The long-term rate inched back to 6.84% from 6.85% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.95%.Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. The key barometer is the 10-year Treasury yield, which lenders use as a guide to pricing home loans.The 10-year Treasury yield was at 4.38% at midday Thursday, down…
Canadian companies and a major union said on Wednesday higher US tariffs on steel and aluminum could result in more job losses and lost sales, as Prime Minister Mark Carney said Canada is preparing reprisals.The US tariff hike on the two metals to 50% from the 25% rate introduced in March took effect at 12:01 a.m. (0401 GMT) on Wednesday.Canada is the largest seller of the metals to the US, exporting to its southern neighbor roughly twice as much aluminum as the rest of the top 10 exporters’ volumes combined.“So this is going to have a very quick impact, I…
“We are reducing new metal, and secondly, we are reducing logistics — nobody has to come pick it up” in diesel-burning trucks, said Nishioka. Iulian Bobe joined Sun Metalon as chief strategy officer after co-founding a textile recycling company called Circ. He said steel and aluminum manufacturers are very eager to reduce their waste streams and their emissions; meanwhile, in Europe, decarbonization mandates drive demand. “They’re really trying to get to a situation where they have zero landfill,” Bobe said. “They’re looking for solutions that can be implemented in the factories. You really don’t want to haul all that waste to another…
U.S. President Donald Trump’s doubling of tariffs on steel and aluminum from 25 percent to 50 percent officially went into effect on Wednesday. But experts say the tariffs will gum up Trump’s plans to rebuild American industry, complicate ongoing trade talks with overseas partners, and do nothing to tackle the structural problems that have plagued the steel industry globally for decades. The tariffs do have the advantage, from Trump’s point of view, of not only favoring domestic industries but also doing so using a more defensible legal tariff authority than the one that courts struck down last week. It’s part…
Elite investor Jeffrey Gundlach is doubling down on the ‘”Sell America” trade.The DoubleLine Capital CEO, previously coined as the “King of Bonds,” raised concerns about dollar-denominated assets when speaking at the Bloomberg Global Credit Forum on Wednesday.At the core of his comments is growing concern over America’s swelling debt load, which is expected to get even bigger if President Donald Trump’s “Big Beautiful Bill” eventually passes.”There’s an awareness now that the long-term Treasury bond is not a legitimate flight-to-quality asset,” Gundlach said, warning that a “reckoning is coming.”He’s referring to recent volatility in long-dated government bonds, like 30-year Treasurys, which…