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China to cut coal from new green bond standards: sources

FILE PHOTO: Worker walks past coal piles at a coal coking plant in Yuncheng
FILE PHOTO: A worker walks past coal piles at a coal coking plant in Yuncheng, Shanxi province, China January 31, 2018. Picture taken January 31, 2018. REUTERS/William Hong/File Photo

March 21, 2019

By David Stanway and Andrew Galbraith

SHANGHAI (Reuters) – Chinese regulators are close to releasing new “green bond” standards that would exclude polluting fossil fuel projects from corporate financing channels designed to lift environmental standards, people familiar with the matter told Reuters.

Beijing has in recent years promoted new green financing methods to help industry pay for its transition to cleaner modes of growth.

But China’s inclusion of “clean coal” in a 2015 central bank list of technologies eligible for green bonds has put the country at odds with global standards, a point of contention for some international investors and many environmental groups.

Two sources with direct knowledge of the situation say China’s central bank, which regulates financial institution debt issuance and whose 2015 guidelines were adopted by other market regulators, has already revised the eligibility list. One of the people said the list is due to be published later this month. The People’s Bank of China did not immediately respond to Reuters’ request for comment.

“If confirmed, ending the policy of financing coal with green bonds would be a much-needed step in the right direction,” said Liu Jinyan, senior campaigner with environmental group Greenpeace in Beijing.

“With no new coal projects taking money from the green bonds market, those funds can actually accelerate China’s energy transition and green development,” she said.

Of the $42.8 billion worth of green bonds issued in China last year, only $31.2 billion would have met global criteria, according to a report published at the end of February by the Climate Bonds Initiative (CBI), a non-profit group backing green bond standards.

The share of what CBI calls “internationally aligned” green bonds has been steadily increasing as China’s institutions move to align themselves more with global markets.

The PBOC’s revised criteria, however, would not apply to green “enterprise bonds”, which are regulated by the National Development and Reform Commission (NDRC), the state planner, and are primarily issued by state-owned enterprises and unlisted companies.

In its “green industry” catalog of approved environmental sectors, the NDRC in February still included the production and utilization of “clean coal”, allowing coal companies to issue “green enterprise bonds” to finance the installation of low-emission technology.

The NDRC did not immediately respond to request for comment.

Green bonds have already financed a number of big coal projects in China. Tianjin SDIC Jinneng Electric Power Co Ltd issued 200 million yuan ($29.81 million) in commercial paper on the interbank market in mid-2017 to finance a low-emissions coal-fired power plant.

Coal-to-chemical plants have also received billions of yuan in financing through green bonds, despite criticism from environmental groups.

Industry experts say the two-tiered regulatory framework – one under the PBOC and one under the NDRC – means some coal-related projects could still issue green bonds, although access to the most active green finance markets would be restricted.

“Many of the international investors and financiers have publicly announced plans to reduce their coal portfolio,” said Herry Cho, head of sustainable finance for Asia Pacific at ING.

She said the NDRC catalog is already “largely aligned” with international standards, and even includes some categories, such as equipment related to renewable energy and resource recycling, that are not yet included in global guidelines.

Shengzhe Wang, counsel at Hogan Lovells in Shanghai, who has worked on green bonds in the U.K.-China Green Finance Taskforce, said it was unrealistic to expect the sudden exclusion of coal from all green financing in China.

“For the time being perhaps we have to put up with, make a compromise with clean coal,” she said.

While that compromise may limit foreign involvement in the market, Peter Corne, managing partner at legal firm Dorsey & Whitney in Shanghai said green financing was still required to help clean up China’s coal sector.

“I don’t think it necessarily means there will be more coal projects because of it, because there has already been a moratorium for quite some time,” said Corne, who follows China’s environmental policies.

“Coal’s not going to go away, and it will greatly accelerate our progress towards achieving emission goals if we do clean up the coal sector.”

(Reporting by Andrew Galbraith and David Stanway; Editing by Sam Holmes)

Source: OANN

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Revealed: Chinese Beta-Test of Alex Jones-Unpersoning

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Source: InfoWars

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Gaza rockets rattle Tel Aviv, but hurt none; Hamas denies responsibility

Israeli Prime minister Benjamin Netanyahu and Chief of staff Aviv Kohavi hold a security consulations at the Kirya Defense Ministry compound in Tel Aviv
Israeli Prime minister Benjamin Netanyahu and Chief of staff Aviv Kohavi hold a security consulations at the Kirya Defense Ministry compound in Tel Aviv. March 14, 2019. Ariel Harmoni/Defense Ministry/Handout via REUTERS

March 14, 2019

By Rami Amichay

TEL AVIV (Reuters) – Two rockets were launched from the Gaza Strip at the Tel Aviv area on Thursday, the Israeli military said, in the first such attack there since the 2014 war in the Palestinian enclave.

The salvo caused no damage or casualties. But it rattled Israeli nerves ahead of an April 9 election in which Prime Minister Benjamin Netanyahu is seeking a fifth term on the strength of his national security and diplomatic credentials.

After air raid sirens howled throughout Tel Aviv and surrounding towns, Reuters journalists heard several explosions in Israel’s coastal conurbation. TV footage showed Israeli interceptor missiles streaking into the sky and detonating.

Despite the apparent activation of Israel’s Iron Dome air defense system, the military said no rockets were shot down nor landed in any built-up areas.

It was the first time sirens had sounded in the city since the 2014 Gaza war between the territory’s dominant Hamas Islamists and Israel. There have been several smaller rounds of fighting since, reined in by Egyptian and U.N. mediations.

“This was basically a surprise,” military spokesman Brigadier-General Ronen Manelis told Israel Radio. He said Israel had no advance intelligence warnings of the rocket fire, which went unclaimed by any Palestinian group.

“We don’t know who carried it out,” Manelis said, adding: “The Hamas organization is the main organization in the Strip. It is responsible for what happens within the Strip and what emanates from it.”

Hamas denied involvement for the rocket salvo, which it said took place as its leaders met Egyptian delegates about efforts to secure a long-term ceasefire with Israel.

SHELTERS PREPARED

A statement by the Hamas armed wing said it was “not responsible for the firing of the rockets tonight toward the enemy.” The Hamas administration vowed to “take measures” against those behind the salvo, which it described as violating the “factional and national consensus” governing Gaza.

Islamic Jihad and the Popular Resistance Committees, two smaller Gaza armed factions, also denied responsibility.

Israeli analysts speculated that Palestinian militants opposed to any deal between Hamas and Israel were behind the launchings.

About 40 minutes after the alarm, traffic was flowing normally on Tel Aviv’s main highway. Still, the municipality asked residents to open bomb shelters as a precaution.

Netanyahu, who doubles as Israel’s defense minister, was conferring with military and security staff, his office said.

Naftali Bennett, a member of Netanyahu’s security cabinet who is vying with him for rightist-votes in the looming ballot, issued a statement demanding the assassination of Hamas chiefs. “The time has come to defeat Hamas once and for all,” he said.

Netanyahu also faced pressure from the center-left opposition, whose leading candidate, ex-general Benny Gantz, said “only aggressive, harsh action will restore the deterrence that has eroded” under the prime minister’s watch.

Tensions have been high for the past year along the Israel-Gaza frontier since Palestinians began violent protests near Israel’s border fence that have often drawn a lethal response from the Israeli military.

Around 200 Palestinians have been killed in the demonstrations and about 60 more Palestinians have died in other incidents, including exchanges of fire across the border. Two Israeli soldiers have been killed by Palestinian fire.

(Additional reporting by Nidal al-Mughrabi in Gaza; Writing by Jeffrey Heller; Editing by Andrew Heavens and Chris Reese)

Source: OANN

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Report: Patriots agree to two-year deal with Gostkowski

FILE PHOTO: Super Bowl LIII - New England Patriots v Los Angeles Rams
FILE PHOTO: NFL Football - Super Bowl LIII - New England Patriots v Los Angeles Rams - Mercedes-Benz Stadium, Atlanta, Georgia, U.S. - February 3, 2019. New England Patriots' Stephen Gostkowski reacts after missing a field goal. REUTERS/Mike Segar

April 9, 2019

The New England Patriots and kicker Stephen Gostkowski have agreed to a two-year contract, ESPN reported Tuesday.

The 35-year-old Gostkowski has been the club’s kicker since 2006. He replaced Adam Vinatieri, who had departed to the Indianapolis Colts as a free agent.

Gostkowski, a four-time Pro Bowl selectio, has made 367 of 420 field-goal attempts during 13 seasons with New England. He was 27 of 32 last season.

Gostkowski has 1,743 career points, and has led the NFL in scoring on five occasions. He has topped 140 points in a season seven times.

He is 39 of 44 on field goals in 28 postseason appearances.

–Field Level Media

Source: OANN

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Lawmakers Push For Another $11 Billion In Electric Vehicle Tax Credits

A bipartisan group of US lawmakers is introducing legislation to expand the electric vehicle tax credit by 400,000 vehicles per manufacturer, according to Reuters.

The legislation is expected to be introduced on Wednesday and could give companies like Tesla and General Motors a substantial boost.

The bill is sponsored by Democrats Debbie Stabenow and Gary Peters, Republican Senators Lamar Alexander and Susan Collins and Democratic Representative Dan Kildee. The passage of such a bill could catalyze more purchases of electric vehicles from automakers who are now sinking billions of capital into EVs.

The existing tax credit, which is $7500, phases out over 15 months after an automaker hits a cumulative 200,000 in sales of electric vehicles. GM’s tax credit was cut on April 1 of this year and Tesla’s tax credit was cut on January 1 of this year. Both credits now stand at $3,750. GM’s credit falls to $1,875 in October and will disappear in April 2020, while Tesla’s credit drops to $1,875 in July and expires at the end of 2019.

Like every bill, this one has a ridiculous name with a stupid pun: it’s being called the “Driving America Forward Act” and would grant each automaker a $7,000 credit for another 400,000 vehicles on top of the already existing 200,000 vehicles eligible. On the other hand, it would shorten the phase out schedule to 9 months from one year.

The bill would also seek to extend the hydrogen fuel cell credit through 2028.

And since taxpayers will foot the bill, here is the damage: the EV tax credits are estimated to cost $11.4 billion if the bill is passed.

Debbie Stabenow said: “We have a cap that’s got to go up. I want to get this done as soon as possible.” It wasn’t exactly clear why it it has “got to go up”, exactly?

Meanwhile, this proposal runs in stark contrast to the White House, who proposed immediately eliminating the $7,500 existing tax credit last month. It said this would save the US government $2.5 billion over a decade. Senator John Barrasso, who chairs the Environment and Public Works Committee, proposed legislation in February to end the credit and to impose a highway user fee on electric vehicles to pay for road repairs.

This new bill is predictably backed by most automakers including GM, Tesla, Toyota Motor Corp, Ford Motor Co, Fiat Chrysler Automobiles NV, Honda Motor Co, BMW AG, Nissan Motor Co and Volkswagen. In fact, GM President Mark Reuss said: “…the EV tax credit provides customers with a proven incentive as we work to establish the U.S. as a leader in electrification.”

And what would a proposed $11 billion in government spending be without the Sierra Club weighing in? Michael Brune, executive director of the Sierra Club, said: “…as we build and grow the clean energy economy, we must continue to invest in tackling the sector that generates the most pollution: transportation.”

Tesla stock rose 2% on the news, even though it was not clear what were the odds of the bill’s ultimate passage into law.



Here’s why politicians were no match for Candice Owens because she’s more authentic.

Source: InfoWars

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Pope defends decision to keep French cardinal after cover-up

Pope Francis has defended his decision to reject French Cardinal Philippe Barbarin's resignation after he was convicted of covering up for a predator priest, saying the appeals process must run its course before a final decision is made.

Francis also explained why he rejected proposals by U.S. bishops to respond to the sex abuse scandal there, saying they neglected the spiritual dimension required for a true reform.

Francis referred to both cases during an in-flight news conference en route home Sunday from Morocco.

Francis' papacy has been thrown into turmoil by the eruption of the scandal on multiple continents and his own handling of cases. Currently, two of his cardinals — Barbarin and Australian Cardinal George Pell — have criminal abuse-related convictions hanging over them, though both are appealing.

Source: Fox News World

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Ford to launch more than 30 new models in China over next three years

Chen Anning, CEO of Ford China, talks to reporters at an event in Shanghai
Chen Anning, Chief Executive Officer of Ford China, talks to reporters at an event in Shanghai, China April 3, 2019. REUTERS/Yilei Sun

April 3, 2019

By Yilei Sun and Norihiko Shirouzu

SHANGHAI/BEIJING (Reuters) – Ford Motor plans to launch more than 30 new models in China over the next three years of which over a third will be electric vehicles, the U.S. automaker said on Wednesday, as it seeks to reverse slumping sales in the world’s top auto market.

Ford had said previously it would launch 50 new or significantly redesigned vehicles in China starting in 2018 and through 2025, and Wednesday’s announcement provides more clarity on the timeline.

Its China operations chief Anning Chen said the automaker is committing itself to improving its relationships with Chinese joint-venture partners and localizing its management teams by hiring and promoting more Chinese nationals and global talent with Chinese expertise, among other initiatives.

The new plans are intended to “enable us to gain the momentum to break through” in the marketplace, Chen told a small group of reporters.

Ford has been struggling to revive sales in China, the second biggest market globally for the Dearborn, Michigan automaker, after its business began slumping in late 2017. Sales slumped 37 percent in 2018, after a 6 percent decline in 2017.

Ford has said its sales crisis stemmed mainly from a lack of new products. Industry experts also ascribe the company’s China trouble to the Sino-U.S. trade war and its rocky relationship with domestic partners Changan Automobile Group and Jiangling Motors Group.

(Reporting by Yilei Sun in Shanghai and Norihiko Shirouzu in Beijing; Editing by Muralikumar Anantharaman)

Source: OANN

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FILE PHOTO: Customers shop in a Sainsbury's store in Redhill
FILE PHOTO: Customers shop in a Sainsbury’s store in Redhill, Britain, March 27, 2018. REUTERS/Peter Nicholls/File Photo

April 26, 2019

By James Davey

LONDON (Reuters) – With Sainsbury’s dream of creating Britain’s biggest supermarket group in tatters, its chastened CEO Mike Coupe needs to reassure investors he has the plan to arrest a sales decline when he presents annual results next week.

Britain’s competition regulator blocked Sainsbury’s 7.3 billion pound ($9.4 billion) takeover of Walmart’s Asda on Thursday, saying the deal would increase prices. Sainsbury’s shares fell 5 percent and are down 22 percent over the last three months.

For Sainsbury’s fourth quarter to March 9 analysts are on average forecasting a 1.6 percent fall in like-for-like sales, which would follow 1.1 percent decline over the Christmas period.

Monthly industry data from researcher Kantar has also shown Sainsbury’s as the weakest performer of the big four grocers this year and this month it lost its status as Britain’s No. 2 supermarket group by market share to Asda.

While Sainsbury’s has struggled, market leader Tesco has gained momentum, this month reporting a 34 percent jump in full year profit.

Prohibition of the deal was a major blow to Coupe, its architect and Sainsbury’s boss since 2014.

Martin Scicluna became Sainsbury’s chairman last month and when bedded-in may decide that if the group needs a major shake-up it is best carried out by a new leader.

Much will depend on the attitude of 22 percent shareholder the Qatar Investment Authority, which has so far declined to comment, as well as Coupe’s own appetite to continue after 15 years at the group.

THE RIGHT STRATEGY?

Coupe said on Thursday he was confident Sainsbury’s was pursuing the right strategy.

That was a clear indication that Wednesday’s results statement will not include radical changes to the group’s plans, such as a big margin reset — sacrificing profit to drive sales.

However, sources connected to Sainsbury’s said Coupe would likely acknowledge that more needs to be done on prices, so the supermarket business can better compete with its big four rivals – Tesco, Asda and No. 4 Morrisons – as well as German-owned discounters Aldi and Lidl.

Coupe’s strategy is based on differentiating Sainsbury’s food offer, growing its general merchandise, clothing business and bank, while investing in convenience and online channels.

Some analysts believe major change is needed.

HSBC analyst David McCarthy reckons Sainsbury’s needs a margin reset, should allocate more space for core lines and needs to drive better store standards. He said Sainsbury’s might consider closing down space in some of its larger stores and reducing its non-food offer.

For the full 2018-19 year analysts are on average forecasting a pretax profit of 626 million pounds, up from 589 million pounds in 2017-18 – a second straight year of profit growth. A full year dividend of 10.5 pence per share is forecast versus 10.2 pence last time.

Bank and lawyer fees related to the proposed combination with Asda were 17 million pounds in the first half and have reportedly jumped to around 50 million pounds.

(Reporting by James Davey; Editing by Keith Weir)

Source: OANN

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Arizona Gov. Doug Ducey rejected demands from a secular group to remove posts on social media where he sent Easter greetings and cited a Bible verse, offering to provide copies of the Constitution to his critics.

Ducey, who’s a practicing Catholic, has been bombarded with calls from Secular Communities for Arizona to remove the post, which included a cross, a Bible verse, and the phrase, “He is risen.”

ARIZONA’S GOP GOVERNOR WAGING WAR AGAINST OCCUPATIONAL LICENSING LAWS

The group argued the posts crossed a line into government sponsorship of religious messages and was unconstitutional.

The governor fired back at the group, saying in a tweet that he will never remove the posts or other religious ones.

“We won’t be removing this post. Ever. Nor will we be removing our posts for Christmas, Hanukkah, Rosh Hashanah, Palm Sunday, Passover or any other religious holiday,” he tweeted. “We support the First Amendment, and are happy to provide copies of the Constitution to anyone who hasn’t read it.”

Dianne Post, an attorney for the secular group, told the Arizona Republic “elected officials should not use their government position and government property to promote their religious views.”

LICENSE REQUIRED TO REPAIR DOORS? REGS SPARK HEATED DEBATE IN ARIZONA

She added the courts have repeatedly “struck down symbolism that unites government with religion,” adding that Ducey’s office must “represent and protect the rights of all residents of Arizona, including those who do not believe in a monotheistic God or any gods at all.”

Many congratulated Ducey for not backing down amid the pressure, though some Facebook users sided with the secular group and criticized the governor on his original post.

“Why do you use a government platform to bring up your personal religion?” asked one person. “Are there no citizens in your jurisdiction that believe differently from you?”

Another stipulated that the post was somewhat discriminatory. “Great sensitivity, Doug. That’s the last time this Jew votes for you,” one person wrote.

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Ducey wished in a statement Arizonans last week a “blessed and joyful Easter and Passover weekend.”

The Associated Press contributed to this report.

Source: Fox News Politics

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FILE PHOTO: FILE PHOTO: A Canadian dollar coin commonly known as the
FILE PHOTO: A Canadian dollar coin, commonly known as the “Loonie”, is pictured in this illustration picture taken in Toronto, Ontario, Canada, January 23, 2015. REUTERS/Mark Blinch/File Photo/File Photo

April 26, 2019

OTTAWA (Reuters) – Canada posted a budget surplus in the first 11 months of the 2018/19 fiscal year compared to a deficit the year earlier as revenues increased mostly on higher tax incomes, the finance department said on Friday.

The surplus for April-February was C$3.1 billion, compared to a deficit of C$6 billion in the same 2017/18 period. Revenues climbed by 8.5 percent, mainly due to higher tax receipts, while program expenses rose by 4.8 percent.

The surplus for February was C$4.3 billion compared with C$2.8 billion in February 2018. Revenues jumped by 12.2 percent while program expenses posted a more modest 6.9 percent gain.

Last month, the Liberals unveiled their new budget, projecting a C$14.9 billion deficit in 2018/19, with the deficit rising to C$19.8 billion in fiscal 2019/20.

(Reporting by Julie Gordon in Ottawa; Editing by Chizu Nomiyama)

Source: OANN

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President Trump said Friday he would beat Joe Biden “easily” in the 2020 presidential election, suggesting the former vice president could not have enough “energy” to hold the post—taking an apparent swipe at his age.

The president, departing the White House, was asked about Biden’s entrance into the Democratic primary field. Biden announced his presidential bid early Thursday morning, marking his third attempt at the White House.

JOE BIDEN OFFICIALLY LAUNCHES 2020 PRESIDENTIAL BID

“I think we’d beat him easily,” Trump told reporters Friday.

Trump, 72, said he feels “young” and is ready for 2020, and another term for his administration.

“I feel like a young man. I am a young, vibrant man,” Trump said. “I look at Joe, I don’t know about him.”

The president’s comments seemingly were a shot at the age of Biden, who is 76.

BIDEN ENTERS WHITE HOUSE RACE WITHOUT OBAMA’S ENDORSEMENT

“I would never say anyone’s too old,” Trump said. “I know they’re all making me look very young both in terms of age and in terms of energy.”

Biden became the 20th candidate to join the crowded Democratic primary field Thursday. But Biden is not the oldest in the pack. Sen. Bernie Sanders, I-Vt., is 77 and Sen. Elizabeth Warren, D-Mass., is 69.

Should Trump be re-elected, he would be 74 on Jan. 20, 2021—Inauguration Day. Should the presidency go to one of the elder Democrats in the field—Biden would be 78; Sanders would be 79; and Warren would be 71.

Meanwhile, in a wide-ranging interview on “Hannity” Thursday night, Trump dismissed Biden’s candidacy, nicknaming him “Sleepy Joe,” and saying he’s “not the brightest bulb.” Trump also said that while the former vice president has name recognition, he won’t “be able to do the job.”

Source: Fox News Politics

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Venezuela's Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas
Venezuela’s Foreign Affairs Minister Jorge Arreaza talks to the media during a news conference in Caracas, Venezuela April 8, 2019. REUTERS/Manaure Quintero

April 26, 2019

WASHINGTON (Reuters) – The U.S. Treasury Department on Friday imposed sanctions on Venezuela’s foreign minister and a Venezuelan judge, according to a statement on the department’s website.

Foreign Minister Jorge Arreaza and a judge, Carol Padilla, were targeted over the ongoing crisis in Venezuela, the Treasury Department said, the latest in a list of officials blacklisted by U.S. authorities for their role in President Nicolas Maduro’s government.

(Reporting by Susan Heavey, Makini Brice and Lesley Wroughton; Editing by Chizu Nomiyama)

Source: OANN

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