Adani downsizes Australian coal mine plan, says it will build without government support FacebookTwitterLinkedInEmailPrint分享The New York Times:After months of protests over whether Australia should subsidize one of the world’s largest coal mines, the Indian mining giant Adani announced on Thursday that it would scale the project back and finance it itself.The Carmichael mine had been projected to produce 60 million tons a year from the coal-rich Galilee Basin; now the output will start at 10 million tons and rise to 27.5 million, the company said, putting it more in line with other mines in the area.“The project stacks up both environmentally and financially,” said Lucas Dow, Adani Australia’s chief executive. “We will now deliver the jobs and business opportunities we have promised for North Queensland and Central Queensland, all without requiring a cent of Australian taxpayer dollars.” The company had previously asked for a taxpayer-financed loan of a billion Australian dollars, about $730 million.Critics of the plan — and they are legion — said the company was trying to rush ahead and break ground because of polls indicating that the next federal election could be won by the Labor Party, which is likely to oppose the mine. There are still obstacles in place, involving water and other issues, but the company maintains that they are procedural and will soon be resolved.Resistance to the mine remains strong. It has become an environmental cause célèbre across Australia, with legal challenges, protests and celebrities painting “Stop Adani” on their cheeks. The concerns have focused on potential damage to the Great Barrier Reef, because of a port connected to the mine along Australia’s North Queensland coast, and more broadly on coal’s damaging contribution to climate change.More: Adani to proceed with scaled-back version of contentious Australian coal mine
The Austrian Ministry of Foreign Affairs has issued a warning for travel to Croatia. Austria has declared the highest level of security risk for Croatia or a risky country to travel due to the growing number of new infections in Croatia. Due to epidemiological trends in Croatia, the highest level of security is expressed for the entire country. Achtung ❗️Travel for Croatia on August 17! The basis of epidemiological developments in Croatia will be the highest security rates for the country in question. ⁰⁰ Next info: https://t.co/08t9EVoERn pic.twitter.com/wNoElnwXyr- MFA Austria (@MFA_Austria) August 14 The warning is valid from August 17, and in addition to Croatia, 31 other countries are on the list. Read the official notice HERE
UK pension funds could be reaching a “tipping point” into cashflow-negative status, data from the Office for National Statistics (ONS) suggests.The ONS recorded a net disinvestment of £15bn (€17.3bn) by pension funds and insurance companies in the third quarter of 2016.It was only the fifth time in 30 years the ONS’s survey of institutional investors recorded net outflows but the second time in three quarters after a net disinvestment of £3bn in Q1 2016.Sorca Kelly-Scholte, head of the EMEA pension solutions and advisory group at JP Morgan Asset Management, said the data was “a marker of pension funds becoming more mature”. “There are two reasons for the disinvestment,” Kelly-Scholte said. “One is a tactical play: Investors see toppy valuations and a reflationary environment coming back, and they think they have got to have cash while this plays out.“This doesn’t explain it all. Either [pension funds] are not reinvesting income, or they’re selling assets. That money is coming out of the long-term asset pool. It will be very interesting to see if it’s a tipping point.”#*#*Show Fullscreen*#*# While similar patterns were observed in the ONS’s data at times of market stress – the bursting of the tech bubble and the peak of the financial crisis, specifically – the 2016 figures were not fully offset by a switch into cash and short-term assets.The ONS data showed net withdrawals of £11bn from overseas equities and £8bn from UK equities.Meanwhile, an aggregate £2bn was invested in short-term assets.UK corporate bonds saw £4bn of net investment.“Net disinvestment at a total level is unusual and may be influenced by changes in investor confidence in the economic environment,” the ONS said in its MQ5 statistical release.However, the ONS said a “very limited number” of respondents to its survey had cited Brexit as a factor in their Q3 decisions.The UK voted to leave the European Union on 23 June, making Q3 the first set of investment data from the ONS post-referendum.Kelly-Scholte said: “A lot of moves post-Brexit would have been tactical. I’m not sure we can point to Brexit as the main cause of flows.”Instead, she pointed to asset class trends such as a continued collective move into alternatives, such as infrastructure and real estate.The ONS’s statistical release is available here.
A 53-year-old has been arrested after he allegedly stalked and threatened an elderly woman over his missing cats.The suspect was arrested Friday in Palm Springs.According to the report, James Whidby began harassing the 86-year-old woman in April of 2019.The victim told authorities that Whidby, who is homeless, would contact her by phone on a daily basis and leave obscene and threatening messages about the disappearance of his cat that would frequent her home.The victim said that the suspect began blaming her and her neighbor for the cats disappearance.Authorities reported that Whidby contacted the elderly woman 30 times and left more than a dozen threatening messages including one where he reportedly said: “You killed my cat and now I am going to kill everyone of you mother&*%$*^! over there.”Whidby also reportedly made threatening calls to dispatchers in Palm Springs as well.He has since been arrested and is facing eight counts of aggravated stalking and four counts of corruption by threats against a public servant.He is due back in court in June.