Climate change will reduce future global income by about 19% in the next 25 years compared to a fictional world that's not warming, with the poorest areas and those least responsible for heating the atmosphere taking the biggest monetary hit, a new study said.
Climate change's economic bite in how much people make is already locked in at about $38 trillion a year by 2049, according to Wednesday's study in the journal Nature by researchers at Germany's Potsdam Institute for Climate Impact Research. By 2100 the financial cost could hit twice what previous studies estimate.
Full StoryReal Madrid weathered the storm, silenced the crowd and ultimately ended Manchester City's brief hold on the Champions League.
The all-time kings of Europe moved a step closer to a record-extending 15th title in the competition they have dominated after a 4-3 win Wednesday on penalties at Etihad Stadium.
Full StoryJuventus has been ordered to pay Cristiano Ronaldo more than $10 million by an arbitration board following a salary dispute.
The dispute regarded a move by Juventus players to defer part of their salaries during the coronavirus pandemic.
Full StoryCalls for action against Israel in international soccer because of the conflict with Hamas will be stepped up by Palestinian officials at the annual FIFA congress next month.
The Palestine Football Association proposal to 211 member federations in Thailand calls for "appropriate sanctions, with immediate effect, against Israeli teams," according to FIFA documents released late Wednesday, one month before the May 17 meeting.
Full StoryThe Biden administration has reimposed crushing oil sanctions on Venezuela, admonishing President Nicolás Maduro's attempts to consolidate his rule just six months after the U.S. eased restrictions in a bid to support now fading hopes for a democratic opening in the OPEC nation.
A senior U.S. official, discussing the decision with reporters, said any U.S. company investing in Venezuela would have 45 days to wind down operations to avoid adding uncertainty to global energy markets. The official spoke on the condition of anonymity to discuss U.S. policy deliberations.
Full StoryEurope wants two things from China: First, a shift in its relatively pro-Russia position on the war in Ukraine. Second, a reduction in the trade imbalance — Chinese goods exports to the EU exceeded its imports from the 27-nation bloc by 291 billion euros ($310 billion) last year.
It's not clear if it will get very far on either front.
Full StoryEuropean Union leaders on Thursday debated a new "European Competitiveness Deal" aimed at helping the 27-nation bloc close the gap with Chinese and American rivals amid fears the region's industries will otherwise be left behind for good.
In a volatile geopolitical landscape redefined by the ongoing war between Russia and Ukraine and increasing tensions in the Middle East that create new economic challenges, EU leaders believe there is an urgent need for action.
Full StoryThe European Union's top diplomat urged Group of Seven foreign ministers on Thursday to take quick, concrete steps to provide more air defense systems to Ukraine, warning that continued delays could tilt the war in Moscow's favor.
Without more Patriot air defense missile systems to guard against incoming Russian strikes, "the electricity system of Ukraine will be destroyed. And no country can fight without having electricity at home, in the factories, in the front line," EU foreign policy chief Josep Borrell warned.
Full StoryInside the barn on the flat fields of the northern Netherlands, Jos Ubels cradles a newborn Blonde d'Aquitaine calf, the latest addition to his herd of over 300 dairy cattle.
Little could be more idyllic.
Full StoryWith cloud seeding, it may rain, but it doesn't really pour or flood — at least nothing like what drenched the United Arab Emirates and paralyzed Dubai, meteorologists said.
Cloud seeding, although decades old, is still controversial in the weather community, mostly because it has been hard to prove that it does very much. No one reports the type of flooding that on Tuesday doused the UAE, which often deploys the technology in an attempt to squeeze every drop of moisture from a sky that usually gives less than 4 or 5 inches (10 to 13 centimeters) of rain a year.
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