Climate

Ajay Banga, the former CEO of Mastercard that President Joe Biden has nominated to head the World Bank, told Axios Wednesday that both the bank and the private sector needed to spend “trillions” to combat both climate change and poverty. Banga has been aggressively campaigning for the job, meeting with officials from 37 different governments in the past three weeks, Axios reported . The World Bank faces competing pressure from wealthy and developing countries over whether to focus on combating climate change or poverty mitigation, but Banga said he does not view the two goals as inherently opposed to one another. (RELATED: Major Banks Bend The Knee To Climate Activists, Accelerate Plans To Cut Coal Investments) “I think it’s a fallacious argument that says, either-or,” Banga said to Axios. “I have every intention of focusing the bank and its people on the idea that this is an intertwined challenge.” The efforts to combat both climate change and poverty would cost … [Read more...] about Biden’s World Bank Pick Calls For ‘Trillions’ In Climate Spending

Republican Texas Sen. Ted Cruz mocked Special Presidential Envoy for Climate John Kerry for defending billionaires who fly private jets to climate change summits. “Look, I gotta say, John Kerry embodies the rich out-of-touch contempt that today’s left has for working men and women,” Cruz said in the Monday episode of his podcast, “ Verdict with Ted Cruz .” (RELATED: ‘Disgraceful’: Ted Cruz Rips Into Biden’s DHS Secretary For Refusing To Say There’s A Border Crisis) “So if John Kerry believes what he’s saying, it means when John Kerry puts his privileged derriere on a private jet, he is destroying planet Earth and simply buying an indulgence of, ‘well, I sent a check to somebody else.’ It fixes it. And his comment, ‘These gazillionaires are doing more than most people I know.’ And I’ve said, ‘Really, you need to know.’ Like, like, it’s such dripping contempt,” Cruz continued. Kerry discussed the Biden administration’s climate initiatives in an interview with Yahoo … [Read more...] about ‘Out Of Touch Contempt’: Ted Cruz Mocks John Kerry For Defending Billionaires’ Private Jet Usage

Share to Twitter Share to Linkedin Turkey’s fate hangs on May 14, 2023. On that day, voters will choose between President Recep Tayyip Erdogan’s current populist regime or opt for a new path. These elections impact not just Turkey’s domestic sphere, but global populism as well. Under Kemal Kilicdaroglu’s leadership, the Turkish opposition presents a noteworthy and inventive approach to navigate populist dilemma. This strategy, which I frame as countering populism and polarization through pluralism, achieved success in the 2019 local elections and may triumph once more. President Erdogan, is a seasoned populist. He predates other populist leaders such as former U.S. President Donald Trump, Prime Minister of India Narendra Modi, former Brazilian President Jair Bolsonaro, former British Prime Minister Boris Johnson, former Philippine President Rodrigo Duterte, and Hungarian Prime Minister Viktor Orban. They all boast anti-establishment views, emotional … [Read more...] about Turkish Elections: At The Crossroads Of Populism

Share to Twitter Share to Linkedin Key takeaways An internal memo revealed Disney’s three-stage plan for implementing 7,000-strong job cuts announced in February The layoffs are part of Disney’s $5.5 billion restructuring plan to cut costs and boost its ailing streaming services Some glimmers of hope for Disney stock investors as its parks show a strong performance Disney is in the doldrums. With a less-than-stellar earnings call last month and mass layoffs planned, CEO Bob Iger has a big job on his hands before a new chief executive is appointed in 2025. The embattled House of Mouse shared an internal memo this week detailing how the job cuts would pan out across the business, with the metaverse team being one of the first casualties. But the move and Disney’s planned $5.5 billion cost-savings plan might not be enough to sway Wall Street. While Disney’s short-term future looks bleak, it’s not necessarily out for the count. We’ve gone … [Read more...] about The Happiest Place On Earth? Not For 7,000 Disney Employees As They Begin First Round Of Layoffs

Share to Twitter Share to Linkedin Key takeaways As recession fears mount and interest rates rise, investors are increasingly worried about how a downturn could hit their portfolios One of the worst moves investors can make during a recession is to bail on your portfolio Instead, consider recession-proof products to buoy your portfolio – and even catch the upside as the economy recovers By now, you’re probably tired of hearing about the impending future recession . (And you certainly wouldn’t be alone.) Still, it’s important to prepare yourself emotionally and financially for the possibility. After all, one of the worst moves investors can make is letting a recession catch them unawares and bailing on their portfolios in response. Fortunately, you can circumvent that risk by reviewing your portfolio early and understanding what you risk in a recession. Then, consider whether these recession-proof investments could help stave off the … [Read more...] about Recession-Proof Investments To Buff Your Portfolio