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Billions more in overseas aid needed to avert climate disaster, say economists
Pressure piles on World Bank and IMF to steer countries to low-carbon transition at spring summit
Governments of wealthy countries must pledge hundreds of billions more in overseas aid payments channelled through the World Bank to avert the worst effects of the climate crisis, civil society experts and economists have said.
The International Development Association fund, the arm of the World Bank that disburses loans and grants to poor countries, is worth about $93bn (£b75n) but that figure must be roughly tripled by 2030, according to economic experts.
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Meta Says It Plans to Spend Billions More on A.I.
Along with the higher spending, the owner of Facebook, Instagram and WhatsApp projected lighter-than-expected revenue, causing its stock to plummet.The New York Times - Tech -
This fiery economist became Argentina's president railing against politicians. Now he's wooing them
Argentina’s lower house has voted to approve a dramatically downsized version of President Javier Milei’s economic overhaul package, known as the omnibus billABC News - World -
Why Musk Now Needs China More Than It Needs Him
China used Elon Musk’s trip to promote its message that it is open to American businesses, despite rising tensions with the U.S.The Wall Street Journal - Business - China -
UK ‘not exciting’ for green investors, says former climate adviser
Ex-CCC head warns Rishi Sunak’s rollback on net zero has driven investment elsewhereFinancial Times - World - United Kingdom -
What Is TikTok Worth? Some Say $20 Billion, Others Say $100 Billion
The answer depends partly on whether TikTok bundles the U.S. and international businesses, and if it includes its coveted algorithm.The Wall Street Journal - Tech - Tiktok -
Schemes targeting seniors account for $3.4 billion in reported losses, FBI says
Reports of elder fraud crimes increased by 14% in 2023, according to a new federal report.CBS News - Politics -
AMD says it will sell $4 billion in AI chips this year; stock drops on in-line forecast
AMD sells AI chips that compete with Nvidia, but it makes most of its money from PC chips.CNBC - Business -
White House OMB director on foreign aid, Key Bridge collapse and more
President Biden, Vice President Kamala Harris and other White House officials have been on the campaign trail touting the administration's economic achievements. However, Americans in several battleground states say they are not satisfied with the ...CBS News - Top stories -
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How your dinner can help you sleep tonightThe Wall Street Journal - World -
Ukraine ‘will have a chance at victory’ with new US aid, Zelenskyy says
“I think this support will really strengthen the armed forces of Ukraine," Zelenskyy said of the House-approved aid bill.Politico - Politics - Ukraine
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