The nation's slow transition to electric vehicles got a boost Wednesday when the Biden administration announced it had finalized the strongest pollution standards ever for cars and light trucks for model years 2027 through 2032. The EPA rule requires automakers to increase sales of electric vehicles while reducing carbon emissions from gasoline-powered vehicles. California took another step forward in 2022 when regulators announced they would stop selling new gas vehicles in the state by 2035. The new EPA standards will represent a roughly 50% reduction in fleet average greenhouse gas emissions levels for light-duty vehicles and a 44% reduction for…
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Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.National carrier KLM acted illegally when it claimed customers could “fly sustainably”, a Dutch court has ruled, in a victory for climate activists relying on European consumer protection regulations to combat “greenwashing”. It is the latest in a series of rulings covering everything from “net zero” Swedish milk, “climate neutral” German heating oil and “carbon neutral” Austrian Airlines flights, all of which have broken fair advertising rules in various jurisdictions around the world. Europe. French energy company TotalEnergies is struggling to defend…
Stellantis NV, owner of the Jeep and Ram brands, agreed to California's strict rules to promote electric vehicles in a deal that could protect the state's clean car campaign from attack by a potential Trump administration.The California Air Resources Board, which regulates emissions in the country's most populous state, said the agreement would see the automaker cut emissions through the 2026 model year. The company also agreed to comply with the state's requirement that zero-emission vehicles account for an increasing share of vehicle sales in the state through 2030, even if that policy is challenged in the future, the agency…
Hello, and welcome back to Equity, the podcast about the business of startups, where we break down the numbers and nuances behind the headlines. This is our Wednesday show, focused on important startup and venture capital news. Today we have a bunch of startup stories, and a venture capital component that's not bad news […] © 2024 TechCrunch. All rights reserved. For personal use only.
Michael Jordan's game-worn Air Jordan 11s. Worn during Game 5 of the 1996 NBA Finals.Photo: Sotheby'sSotheby's is increasing its sports offerings, as the auction house looks to capitalize on growing demand for sports memorabilia and attract a younger demographic.The company on Wednesday announced its first “Sports Week,” which will include six live and online auctions with items from many of the biggest names in sports. Auctions will begin on April 5.The auction house said demand for sports memorabilia has jumped in recent years, and sports has become one of Sotheby's fastest-growing categories.“We have seen tremendous growth and interest in this…
The Bank of England in London, after figures showed the British economy sliding into recession at the end of 2023.Yui Mok | Photo ba | Getty ImagesLONDON – The Bank of England is widely expected to keep interest rates unchanged at 5.25% on Thursday, but economists are divided on when the first cut will be.Data on Wednesday showed headline inflation fell more than expected to an annual 3.4% in February, reaching its lowest level since September 2021. The central bank expects the CPI to return to its 2% target in the second quarter, as price caps are lowered. Home energy…
Irish Prime Minister Leo Varadkar in November. 2023. Victor Luchon | Gamma Ravo | Getty ImagesIrish Prime Minister Leo Varadkar announced on Wednesday that he will step down once his Fine Gael party appoints a new leader.“When I became party leader and Taoiseach (prime minister) in June 2017, I knew that part of the leadership knew it was time to pass the baton to someone else, and then have the courage to do so,” Varadkar told reporters outside government offices in Dublin. the time now”.“I resign as Chairman and Leader of the Fine Gael Party with effect from today and…
The 32-year-old Navy veteran was carrying a metal bar. The LAPD thought it was a machete. They shot Jesse Murillo to death.Now the Canoga Park man's mother will collect $24.45 million from the city of Los Angeles.The settlement — approved by the Los Angeles City Council on Tuesday — marks the latest chapter in a shooting that the district attorney's office determined in 2020 was lawful. The Police Commission also determined that the use of deadly force was within LAPD policy.But in August, a federal jury unanimously awarded Tammy Morello $23.8 million, finding that officers Fred Sigman and Christopher Montague…
Homes under construction on July 19, 2023 in Mundelein, Illinois. Scott Olson | Getty ImagesMortgage interest rates rose last week for the first time in three weeks. As a result, total mortgage application volume fell 1.6% compared to the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) rose to 6.97% from 6.84%, with points falling to 0.64 from 0.65 (including origination fees) for lower-interest loans. By 20%. Premium. That was the weekly average, but another index from Mortgage News Daily, which looks…
Christine Lagarde, President of the European Central Bank, at the conference of the European Central Bank and its supervisors in Frankfurt, Germany, on March 20, 2024. Bloomberg | Bloomberg | Getty ImagesEuropean Central Bank President Christine Lagarde confirmed on Wednesday that policymakers will consider cutting interest rates in June, but charted an uncertain course after that. “By June, we will have a new set of forecasts that will confirm whether the inflation path we predicted in our March forecast remains correct,” Lagarde said in a speech in Frankfurt.The June meeting has been pointed to as a potential turning point by…