The International Energy Agency is pressing for more investment in the clean energy transition of developing countries, the source of more than two-thirds of global emissions that are only expected to grow in the next 30 years.
Amazon was the world’s largest corporate buyer of renewable energy generation in 2020, a year in which global corporate power purchase agreements hit a record high.
Covestro received the first delivery of 2,000 metric tons of sustainable benzene from French oil major Total, a step toward the company’s goal of a circular economy sustained by alternative raw materials.
High container rates, particularly in Asia, are driving freight forwarders to breakbulk alternatives and multipurpose vessels.
Transpacific trade congestion is forcing Whirlpool to air freight critical parts and products to maintain production schedules.
Global carmakers face a $61 billion revenue shortfall this year due to semiconductor shortages, a biproduct of lean manufacturing coupled with pandemic disruption.
GM and Navistar are partnering to develop a low-emission, hydrogen electric vehicle for long-haul trucking.
Exxon, facing pressure from activist shareholders and historic disruption in fossil-fuel markets, is considering expanding its board of directors, reducing capital spending and increasing environmental investments.
Ratings agency S&P put oil giants Chevron, Exxon, Shell and Total on its downgrade watchlist out of concern for climate change and the push for green energy.
Logistics conditions remain strained, with trucking demand exceeding availability, continuing congestion at ports, and backlogs at warehousing and packaging facilities due in part to operating challenges related to the pandemic. Shipping containers are in short supply, with demurrage charges rising. Clients are advised to provide expanded lead times on orders to help ensure delivery dates.
There were 152,478 new COVID-19 infections in the U.S. yesterday and 3,943 fatalities.
The World Health Organization recommends that pregnant women forego COVID-19 vaccinations unless they are at a high risk of exposure, as there is not enough data to assess the vaccine’s effectiveness or risk in pregnancy yet.
An unlikely alliance between tenant groups and landlords is forming in New York, where tenants’ inability to pay rent is making it harder for landlords to pay back their loans, causing debt to pile up.
The South was the only U.S. region with continued payroll growth at the end of 2020, bucking the trend of persistent job losses in all other areas.
The White House issued new rules regarding what types of job offers Americans can refuse and still claim unemployment benefits.
New orders for durable goods increased slightly in December from the previous month, the eighth straight month of gains.
More Q4 earnings reports reflect the pandemic’s impact on the economy:
Whirlpool reported better-than-expected Q4 earnings on continued strong demand for white goods among stay-at-home consumers but said supply chain constraints are complicating production and deliveries.
Apple ended 2020 with its most profitable quarter ever, recording $111.4 billion in sales led by demand for higher-end iPhones with 5G technology.
In the six weeks since its detection, the new COVID-19 variant in South Africa has risen to dominance, detected in 90% of those tested and sending infections and hospitalizations soaring. The variant has spread to at least 31 other countries.
More virulent strains of COVID-19 from Britain, South Africa and Brazil could prompt governments around the world to reimpose lockdowns even as vaccines are distributed, threatening second recession risks for some nations.
The U.K. is expected to extend a current national lockdown for six more weeks, with schools staying closed and new border quarantine rules taking effect. New daily COVID-19 cases in the nation fell 35% compared to last week as fatalities remain near record highs.
The European Union is calling on AstraZeneca to commit to a previously agreed upon schedule for delivering doses of its COVID-19 vaccine after the drugmaker said production problems at a European factory would sharply cut supplies.
With many restrictions having been eliminated after a large decline of COVID-19 cases in India, citizens remain reluctant to spend, choosing instead to save cash in case of future medical emergencies.
Bill and Melinda Gates are warning about global “immunity inequality” that will limit access of COVID-19 vaccines only to the world’s wealthiest people and nations.
Governments around the world are saddled with an added $19.5 trillion in debt due to the pandemic, surpassing previously set records of indebtedness set during WWII.
The International Monetary Fund is raising warnings about the potential for a sudden drop in asset prices, a risk associated with overconfidence among investors.
Toyota edged out Volkswagen to become the world’s largest car company in 2020 with 9.5 million vehicles sold.
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