FirstFT: IPCC warns that global warming will reach 1.5C by 2040


World update

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The world may temporarily reach a temperature of 1.5 degrees Celsius within 20 years, even under the best circumstances when greenhouse gas emissions are drastically reduced. Major reports on climate change 234 scientists from more than 60 countries signed the conclusion.

Scientists say that even if emissions are rapidly reduced, temperatures will continue to rise, “at least” until 2050, and lead to further extreme weather events.

They stated that without “immediate, rapid and large-scale reduction” of emissions, it would be “out of reach” to control global warming by 2100 at 1.5 degrees Celsius or even 2 degrees Celsius higher than pre-industrial levels.

The US President’s special envoy for climate issues, John Kerry, said the survey results emphasized “the urgency of this moment”. United Nations Secretary-General António Guterres described them as “the red code of mankind.”

The British “Financial Times” view is that the current decarbonization decision of politicians will big influence In the next few decades.

There are five more stories in the news

1. Bank of England faces lockdown due to closure of Main Street branches The chief financial regulator is studying the introduction of rules to enable Block bank According to people familiar with the deliberations, the main street branch was closed to ensure that consumers and businesses can use cash.

2. The U.S. Senate will pass the infrastructure package The Senate will Deliver packages worth $1 trillion With the strong support of the Republican Party to invest in shaky infrastructure, this bipartisan vote will be seen as a major legislative achievement during Joe Biden’s presidency.

3. The Taliban swept the northern warlord’s resistance fortress Islamic militant group arrested The five provincial capitals of Afghanistan Over the weekend, four of them were in the north, and the pressure on the Kabul government was increasing as US troops prepared to leave the country.

4. Epstein sues Prince Andrew Prince Andrew has Prosecute Provided in New York by Virginia Giuffre, the victim of the late sex offender Jeffrey Epstein, who claimed to have been forced to have sex with the royal family at a young age. Prince Andrew had previously stated that he did not remember seeing Juffrey and denied her public allegations.

5. British consultant fined 1.3 million pounds for steel pension Financial regulators have enforced Fine first In providing recommendations for the transfer of retirement savings to members of the British Steel Pension Plan, the consultant called it “seriously incompetent.” Geoffrey Edward Amin, a retirement and pension plan service, was fined 1.3 million pounds for advising 422 clients.

Coronavirus Digest

  • Biological Technology Exceed sales expectations Due to the soaring demand for its coronavirus vaccine, profits jumped to nearly 2.8 billion euros, this is the second consecutive quarter.

  • Bonds issued Cruise company, Cinema operator and Retailer all fall Prices rose last week as investors gave up the debt of some Covid-affected companies after reassessing the pace of the reopening of the U.S. economy.

  • This Pentagon plan to do Forced jab It will be used by the U.S. military until mid-September.

  • Oil Being hit New selling pressure Yesterday, due to concerns that the Delta variant would weaken Asian demand, oil prices fell by 4% and fell below US$70 per barrel.

The line chart of USD per barrel shows that oil prices have fallen from their 2021 highs

The “sequelae” of the European economic and financial pandemic will be Longer and more serious Victor Khosla, the head of Strategic Value Partners of the US Investment Group, which specializes in corporate dilemmas, said that this is more important than the pain of the United States. register For us Coronavirus business update Newsletter and follow our Live blog Newest.

the day before

British exam results A level result Today in England and Wales, as well as in Scotland, countries 4 and 5, tertiary and higher institutions.

income SoftBank will report first-quarter earnings. Also reported are: Abrdn, Flutter Entertainment, HelloFresh and InterContinental Hotels. See the full list here.

Jacob Zuma’s trial resumed The former president of South Africa will be released from prison to participate Corruption TrialAfter Zuma’s lawyers successfully lobbied for the hearing to be held in person rather than via a video link, it was postponed from July. (AJ)

Latvia State of Emergency The country expressed its readiness to announce State of emergency On its border with Belarus, it aims to stop the flow of migrants from the Alexander Lukashenko regime that transfer asylum seekers from Iraq, Syria and other countries to its border with the European Union.

What are we still reading

How will the Bank of England’s digital currency work? As the use of cash decreases, the Bank of England is concerned that banknotes and coins may become less important and may weaken its ability to set interest rates to control inflation.Can issue a Central Bank Digital Currency Solve its troubles for the general public’s daily use?

  • Not just the central bank: Companies behind the cryptocurrency industry are increasingly turning Sports sponsorship Accelerate their 10-year journey from the depths of the Internet to mainstream speculative assets.

NDA boom: bad for employers and workers Non-disclosure agreements that were originally used to protect trade secrets have become commonplace in U.S. settlement agreements, severance payments, and employment contracts. But a silent agreement can prevent information about fraud or abuse from spreading to the public. Sarah O’Connor writes.

Washington vs Big Tech During the past two months as chairman of the Federal Trade Commission, Lina Khan Retrofit The task of the American organization is to formulate competition rules and implement them. Among other measures, she also lifted restrictions on her legal powers and changed her decision-making methods. But officials worry about what these changes will mean for their institutions.

Many progressives believe that the FTC failed to complete its core mission because they pointed to the existence of American technology giants such as Google, Facebook, and Amazon.

Many progressives believe that the FTC failed to complete its core mission because they pointed to the existence of American tech giants such as Google, Facebook and Amazon © POOL/AFP via Getty Images

Berlin vote on confiscation of rental properties An aggressive campaign to urge the city government to expropriate some 240,000 properties from Germany’s largest listed homeowners is making progress. The accusation that followed was that low-income long-term residents were squeezed out due to poor maintenance and high rents. read the fourth part Our global housing price series is here.

Dissatisfaction with Middle Eastern Democracy Ten years ago, people in the Arab world were cheering for the downfall of the tyrant. Now they are cheering for the downfall of democracy, Gideon Rahman wrote. Their struggle for political freedom heralds the ominous global struggle against autocracy.

travel

After sharing by FT writers Accompany them on vacation,we want to know Your Favorite trip. From experiencing the wilderness of Yellowstone National Park to backpacking through Zimbabwe, This is what the readers of the Financial Times said About their life-changing vacation.

Travelers at a houseboat hotel on Lake Kariba, Zimbabwe in the 1990s © Alamy Stock Photo

Travelers at a houseboat hotel on Lake Kariba, Zimbabwe in the 1990s © Alamy Stock Photo

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