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Brazil's Supreme Court affirms Indigenous land rights in violation of Congress
The majority of the Brazilian Supreme Court on Wednesday reaffirmed Indigenous land rights protections, limiting attempts by Congress in order to limit recognition?of reservation. This ruling is likely to ignite tensions between the top court and legislators. Six of Brazil's 10 Supreme Court Judges voted in favor of establishing Indigenous Land Rights as constitutional clauses that can never be removed by legislators, according to Deborah Duprat. She is a former federal prosecutor and has worked on Indigenous Rights issues for decades. She added, "It is an important message for Congress." Four Supreme Court Justices have yet to?give their opinion on the matter, but their votes do not block the majority's decision. Although the 1988 Brazilian constitution recognized Indigenous rights to ancestral territory, the process for demarcating these lands has taken decades. Indigenous advocates claim that hundreds of communities are still waiting for formal recognition. Many of them are entangled in violent disputes over land. A powerful farm lobby, backed by a conservative majority in Congress, has been increasing its resistance to Indigenous land claimants over the past few years. In 2023, lawmakers passed a bill to limit the protections of Indigenous lands whose communities could not prove that they were occupying them when the constitution came into effect. Proponents claim that the cutoff date will protect landowners against claims they didn't know when they bought their property. The Senate amended the constitution to align it with the law of 2023 as the Supreme Court was preparing to rule this month on the constitutionality of the law. This constitutional?amendment is expected to be passed by the lower house of Brazil’s Congress. Some Supreme Court justices have already argued, in their votes this week, that this section cannot be amended as it protects the fundamental rights. Justice Flavio Dino wrote that the legislative branch cannot suppress or reduce the rights of Indigenous peoples under any pretext. This would be a violation of the fundamental principles of democracy. (Reporting and editing by Gabriel Araujo and Brad Haynes; Paul Simao, Gabriel Araujo and Fernando Cardoso)
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Teamsters union re-opposes Union Pacific Norfork Southern Deal
Teamsters said that it opposed the merger of U.S. freight railways Union Pacific and?Southern on Wednesday. In a joint press release, union presidents representing 20,000 employees at both railroads stated that they will not support any?deal? that does not protect the lives and livelihoods of workers. Since its announcement, the proposed merger has been criticized by unions and other railroads. It aims to create the first coast-tocoast railroad in America and reduce delays and handoffs. Teamsters claimed that executives from both railroads had failed to protect jobs or address?other concerns. It's time that Union Pacific and Norfolk Southern get serious and do the right thing by their members. The Teamsters said that until they do so, it will do all in their power to stop this "harmful merger". In November, Union Pacific and Norfolk Southern's shareholders approved the $85 billion merger. Over 99% voted in favor. Surface Transportation Board is expected to receive applications from both railroads this week. In October, Senators John Hoeven, Amy Klobuchar, and other bipartisan senators urged the Surface Transportation Board to closely examine the proposed merger due to concerns over long-term competition. This included the impact on agricultural producers. BNSF Railway, owned by Berkshire Hathaway, has also expressed its'strong opposition to this merger,' urging shippers and other stakeholders, including labor, to express?their disapproval to the Surface Transportation Board. SMART-TD - the largest railroad union in the United States - backed the merger proposal after securing job protection guarantees for its members. This was a change of stance from its previous stance, which had been to oppose the deal due to concerns over job security, access infrastructure and competition. Union Pacific issued a statement saying that "every employee who had a unionized job at the time the merger took place will still have it." Norfolk Southern didn't immediately respond to an inquiry for comment. (Reporting and editing by Alan Barona in Bengaluru, Abhinav Paramar from Bengaluru)
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Austria's Raiffeisen names former executive Hoellerer as new CEO
Michael Hoellerer, the former Chief Financial officer of Raiffeisen Bank International, was announced as the new CEO for Austrian lender Raiffeisen Bank International on Wednesday. Hoellerer replaces Johann Strobl who will continue managing the business until then as CEO and will step down from the board of management at the end his mandate in February 2027, according to a bank statement. Strobl has been the CEO of RBI since March 2017. In October, RBI undertook It is reorganizing its board in order to sell off its Russian business to a local buyer, in the hopes that the Russian government will lift the block on the repatriation by the bank of billions of dollars in profits. The U.S.,?European Union and other countries are also pressuring it to reduce its Russian activities. The largest Western bank is?Russia. On Wednesday, it announced that Andreas Gschwenter will be given a three-year extension of his?mandate to serve as chief information officers from July 2026. RBI said ?Hoellerer, who served as the bank's ?CFO between 2020 and 2022 and is currently CEO of RBI's largest ?shareholder, RLB Niederoesterreich-Wien AG, will also take over responsibility for RBI's group-wide retail business from Strobl. (Reporting and writing by Alexandra Schwarz Goerlich in Vienna, Linda Pasquini from Gdansk, editing by Paul Simao).
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Sarajevo improves air quality following ranking as most polluted city
Sarajevo authorities issued a warning on air quality and imposed a?ban on some cars and trucks after it was ranked 'as 'the?world’s most polluted cities on the previous two evenings by Swiss monitoring firm IQAir. After several days of fog, smog and fog that blanketed Sarajevo's population of 350,000, the cantonal government of Sarajevo took action to improve the quality of air. The city banned trucks over 3.5 tonnes and cars or trucks that did not meet the standards of?the European Union and construction in open areas was prohibited. The city also prohibited public gatherings. Experts say that the major sources of pollution are around 40,000 households who use primarily firewood and coal for winter heating and transportation. Anes Podic, from the?environmental organization Eko Akcija said that only 500 households received gas stoves as a result of international aid. He added that there were 180,000 registered vehicles in Sarajevo. 'TEMPERATURE INVERSION' In a valley surrounded with mountains and hills, the city has suffered for years from a phenomenon called temperature inversion, which pushes pollutants and colder air from cars and fossil fuels nearer to the ground. It can last for days when mixed with fog. According to the World Bank, Bosnia has among the highest levels in Europe of fine particulate (PM2.5) pollutants, which are caused by the burning of solid fuels for home heating, and the transport sector. Enis Krecinic is an expert from the Hydro-Meteorological Institute of Bosnia’s autonomous Bosniak-Croat Federation. He said that over 100 days of the year, PM2.5 levels were exceeded. According to?data from the World Health Organization, Bosnia has the highest mortality rate in the world due to?air pollution. According to the World Bank, PM2.5 air pollution is responsible for 3,300 premature deaths each year and a loss of more than 8% in GDP. Aida Forto is a lung specialist who said that long-term air pollution exposure, especially fine particulates, can cause lung cancer. This is especially dangerous for pregnant women and children as well as the elderly.
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Airbus A320s subject to inspections by regulators following a fuselage defect
The European Safety Authorities issued preliminary instructions to airlines on Wednesday, requiring them to inspect the fuselage panels of dozens of A320 family jets. This was after Airbus slowed deliveries due to a production issue at a Spanish supplier. According to a proposed directive by the European Union Aviation Safety Agency, airlines are required to inspect the thicknesses of certain panels at the front of aircraft within six months. This can be done sooner if these panels have already been repaired. The inspection order covers 177 aircraft in service, plus another 451 planes that are still in various stages of production within Airbus. EASA stated that the inspections are designed to address "potentially dangerous conditions" on panels with a combination of the wrong thickness and a history previous repairs. Airbus had prepared its own technical instruction and provided airlines with a timeline for solving the problem. Sources in the industry said that some airlines were still reluctant to accept new deliveries until panels had been replaced. Others have demanded compensation or improved warranty terms. Airbus refused to comment on any commercial discussion. After the panel defect slowed deliveries in November, Airbus lowered its 2025 target for delivery by 4%. This is around 790 aircraft. According to industry sources, deliveries were 'below average' in the first half December but have increased in recent days. Airbus, which has a long history of increasing deliveries in the last days of the calendar year, refused to comment ahead of the full-year report due on January 12. (Reporting and editing by Kirsten Doovan; Tim Hepher)
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UN chief Guterres urges maximum restraint in Yemen after separatist advance
The United Nations Secretary General Antonio Guterres urged all parties in Yemen on Wednesday to exercise maximum restraint following an advance by southern separatists, which risks rekindling the 10-year-old Civil War?after a long lull. He said that the operating conditions in areas controlled by the Iran-aligned Houthi movements - Yemen's capital Sanaa, and the densely populated north - had also become unsustainable. The separatist Southern Transitional Council (STC), backed by the United Arab Emirates in the past, claims to have taken control of the eastern provinces Hadhramaut?Mahra, and now has a firm grip on all provinces within the former state of?South Yemen. The STC is an important member of the coalition that fights alongside the internationally recognized government against the Houthi movement. Guterres said: "I urge everyone to show maximum restraint and de-escalate tensions. Then, we can resolve our differences through dialogue." "This includes regional stakeholder, whose positive engagement and coordination to support UN mediation efforts is essential for ensuring our collective security interests." Guterres said. Guterres has just returned from Saudi Arabia and Oman and condemned the Houthis for continuing to arbitrarily detain 59 U.N.?staff. He called for their unconditional and immediate release. "In recent weeks, Houthi authorities de facto referred three of my colleagues to a special criminal court. This referral should be revoked. The charges were brought 'in connection with their performance of official duties at the United Nations. He said that these charges should be dropped. The United Nations has consistently rejected Houthi allegations that U.N. personnel or U.N. operations were involved in spying. Guterres stated that "we must be allowed to do our work without interference." "Despite the challenges, we are committed to providing lifesaving support to millions in Yemen." He said that nearly two thirds of Yemen's population, or 19.5 million people, need humanitarian aid.
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Data shows that the largest port in Venezuela is where tankers depart with Venezuelan oil products.
According to internal documents and ship tracking data from PDVSA, at least 'two' tankers containing Venezuelan methanol - and petroleum -coke - left the OPEC nation's largest port on Wednesday. Since the United States first imposed sanctions against Venezuela in 2019, it has not targeted oil byproducts and petrochemicals exports. Since the United States first imposed energy sanctions on Venezuela in 2019, it has not targeted exports of oil byproducts or petrochemicals. After a cyberattack this week that affected PDVSA's central administrative systems, the cargoes are being shipped. (Reporting and editing by Julia Symmes Cobb; Marianna Pararaga)
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US Postal Service seeks new revenue streams to stave off cash crunch in 2027
The U.S. The U.S. U.S. Postmaster-General David Steiner said he hoped Amazon.com would participate in the process of seeking bids for 18,000 USPS Delivery Destination Units that will allow "last mile" deliveries to customers from a wider range. Steiner, in his first interview after taking over the USPS leadership, said that this could add billions in revenue. The Postal Service delivers more than 170 millions U.S. addresses every week, and the last mile is the most expensive. Steiner added that it is also very expensive for FedEx, UPS, and Amazon. "We have a precarious cash situation." He said that we would be out of money in 12 to 24 months. Steiner stated that the USPS free cash and spending rate would leave them "basically out of money" by early 2027. Steiner, the new USPS leader who was appointed in July by the White House after it ousted the previous postal chief, said that the USPS needed significant legislative and administrative reforms following a $9 billion annual loss reported in November. Steiner stated that one of the priorities is to convince Congress to remove the $15 billion borrowing cap it imposed many years ago. Government Accountability Office reported on Wednesday that USPS has suffered net losses of $118 billion in the last seven years, as its first-class mail – its most profitable product – has dropped to its lowest volume ever. Congress approved legislation in 2022 that would provide USPS with financial relief of about $57 billion. Postal service does not have a 'luxury of time' Amazon did not comment immediately on Wednesday but said earlier in the month that it was in talks with USPS regarding its future relationship. It is also considering its options prior to its current contract expiring in October. However, Amazon expressed concern about the auction after nearly a full year of negotiation. We are in the process of negotiating to extend this contract. Steiner told the group that they would be going out on the market to test the market. There's one thing that I'm absolutely sure of: If we keep doing things the same way, we'll be dead in a year. I've got to test the market to see if this price is fair. USPS currently sells?about 1,7 billion units from its last mile distribution. However, it has the capacity to deliver 3.5 to 4, billion. It generates $5.5 to $6 billion annually from these deliveries. USPS has received significant interest from many companies. We had to act quickly and in a dramatic way. Steiner stated that we do not have the luxury of a lot of time. He said that the fate of USPS and Amazon are linked and added that Americans receive Amazon packages from the Postal Service 1,7 billion times per year. There is no doubt in my mind that the U.S. Amazon would not be where it is today without the U.S. Steiner stated that they wanted to continue the relationship at a fair cost. (Reporting and editing by Franklin Paul, Alexander Smith and David Shepardson from Washington)
China's blistering solar power development encounters grid blocks
China's breakneck buildout of solar power, sustained by rockbottom equipment prices and policy support, is slowing as grid bottlenecks pile up, market reforms increase unpredictability for generators, and the best roof area runs short.
Last year, China broadened its solar fleet by 55%. The momentum continued through the very first two months of 2024, however in March brand-new solar construct fell 32% year-on-year to the most affordable level in 16 months, main information and computations show.
The country's solar power growth is slowing due to tighter curbs on providing excess power from roof solar into the grid and modifications in electrical energy pricing that are denting the economics of new solar jobs.
Projections show China's solar build this year will be heavily outmatched by development in its photovoltaic (PV) module manufacturing capability, raising the possibility the country will export more solar panels in spite of a trade backlash in Europe and the U.S.
. The main aspect slowing the expansion of distributed solar - setups developed near the point of usage, mostly on rooftops - is that there is insufficient storage or transmission capacity to soak up the excess power generated when the sun is shining.
That in turn is leading regulators to remove some of the rate support that resulted in the fast development of dispersed solar.
In the next number of years, this is going to be a huge problem that all provinces will deal with as grids are oversaturated, the facilities is overwhelmed, said Cosimo Ries, an analyst with Trivium China, a policy research group.
The problem has hit several regions that were heavy adopters of distributed solar, that made up 42% of the national solar fleet last year, however is particularly intense in provinces such as Shandong in the north.
State broadcaster CCTV said up to 50-70% of dispersed solar generation is being reduced in Shandong, which indicates grid managers have actually needed to stop that quantity of supply entering the grid in order to keep balances with demand.
China has attempted to limit curtailment of renewable energy to 5%, in line with rates of 1.5-4% in most huge markets, according to the International Energy Firm.
However in a study of 6 provinces' capability to take in distributed solar, China's energy regulator in 2015 found 5 expected to have to enforce limitations on new projects in 2024.
Hebei and Henan provinces - 2 of the 3 huge drivers of dispersed solar together with Shandong - have already seen an outright collapse in installations, Ries said. These. 2 provinces are extremely worrying.
In November, Henan province directed business and regional. regulators to come up with action plans to increase grid. capacity to support the healthy development of distributed. solar.
State planner the National Development and Reform Commission. did not react to a faxed ask for remark, and its Henan. and Hebei workplaces could not be reached. The North China Energy. Regulatory Bureau decreased to comment and the Henan energy. regulator did not react.
FORECASTS DIVERGE
China's rapid solar rollout has actually put it on track to meet its. eco-friendly goals years ahead of schedule, with installed solar. capacity of 655 gigawatts (GW) since March, the most in the. world without a doubt, well ahead of second-placed United States with. upwards of 179 GW at the end of 2023.
However projections for the solar rollout this year vary greatly. S&P Global Commodity Insights expects new setups to increase. 4% in 2024 from 217 GW in 2015, saying first-quarter additions. were stronger than anticipated even with the March drop-off, while. Rystad analysts see a 6% increase.
On the other hand, the China Electricity Council anticipates brand-new. installations to stop by 20% this year, while a Chinese PV. market association in February projection they could fall 12%.
Lagging grid financial investment and uncertainty produced by continuous. electrical energy market reforms loom as challenges, said Holly Hu,. S&P Global Commodity Insight's principal expert for clean. energy tech.
The country's solar rise was assisted in by government. assistance that motivated a surge in devices production. that has crushed international solar panel rates, triggering complaints. from trading partners.
For this year, experts anticipate China to include 500-600 GW. of PV module production capacity, a 60-70% boost, well above. development in solar jobs.
That would require producers to export even more to. markets such as Europe and the U.S., which doubled tariffs on. cells utilized to make solar panels from 25% to 50%.
PRICING CHANGE FALLOUT
Eco-friendly generators previously took pleasure in a warranty that. grid operators would purchase almost all of their power at a rate. tied to the coal index. That warranty was raised on April 1 and. worked previously in some locations, 3 industry specialists stated.
Now, renewable generation is increasingly subject to less. favourable market prices.
Shenhua Energy, a state-run coal and power company, stated in its. 2023 annual report that costs for its solar power fell 34.2%. year-on-year to 283 yuan per kilowatt-hour (kWh), while its coal. power prices fell just 2.4% to 406 yuan per kWh.
Wang Xiuqiang, a researcher at consultancy Beijing Linghang,. attributed the lower solar prices and profitability to a higher. percentage of market-based rates.
At the exact same time, grid companies are dialling back the 5%. curtailment limit, creating the risk for job owners that. their generation may not be bought, stated David Fishman of. Shanghai-based energy consultancy the Lantau Group.
Curtailment for Huaneng Power International, a significant. state-owned generator, increased to 7.7% in the very first quarter from. 3.1% a year earlier, Jefferies analysts stated in a customer note,. citing Huaneng management.
In an additional challenge, the easiest-to-site projects have. already been largely developed, said Shi Lida, research supervisor. at Yongan Guofu Property Management. At sites still offered,. roofs may require to be reinforced, grid connections might be. minimal, or hours of sunshine might be brief.
If your costs do not continue to fall, the financial investment will. not be cost reliable, Shi stated.
(source: Reuters)