TAURUS
Airlines are to cough up for cross-border flight pollution
CIVIL aviation accounts for perhaps only 2% of manmade carbon emissions. Add in other pollutants, such as contrails and nitrous oxide, and the industry’s overall contribution to climate change might be twice that figure. That may not seem much. But the sector is growing rapidly. Since the 1970s, global air traffic has doubled in size about every 15 years. Rising prosperity in developing countries and massive backlogs of aircraft orders means that the growth will continue for decades. Without regulation, the world’s airlines could quickly choke the skies.
Last week, the International Civil Aviation Organisation (ICAO), a United Nations agency, announced a framework for mandatory carbon-offsetting on all international flights. The agreement was backed by 65 countries, which between them account for 86.5% of international flight operations.
International flights, unlike domestic ones, were exempt from last year’s Paris Agreement on climate change. This new tentative accord seeks…Continue reading
De Guindos pide transparencia para acabar con los problemas bancarios en Europa
El ministro de Economía español en funciones, Luis de Guindos, ha pedido hacer un ejercicio de transparencia para que el sector bancario europeo recupere la credibilidad. Leer
El Brent, en máximos de un año ante la disposición de Rusia a recortar la producción
El precio del petróleo ha subido hoy con fuerza después de que el presidente de Rusia, Vldimir Putin, se haya mostrado dispuesto a congelar o recortar la producción en línea con las propuestas de la OPEP. Leer
El BCE niega que Deutsche Bank recibiera un trato especial en los test de estrés
La institución que preside Mario Draghi asegura que «trata a todos los bancos igual en línea con la regulación», según dijo a Efe una portavoz del Banco Central Europeo. Leer
EDF entra al mercado solar brasileño y se refuerza en el chileno y mexicano
En Brasil, EDF EN (Energías Renovables) desembarcará con el parque solar de Pirapora, en Minas Gerais, que tendrá una potencia máxima de 191 megavatios. Leer
López Madrid en el juicio de las ‘black’: el Grupo Villar Mir perdió 20 millones con Bankia
«Soy la misma persona que ha perdido los 20 millones que se supone que me quiero beneficiar de 30.000 euros», ha dicho López Madrid, yerno de Juan Miguel Villar-Mir en referencia a lo que gastó con la tarjeta opaca y a lo que el grupo perdió con la salida a Bolsa de Bankia. Leer
Virgilio Zapatero: “Invité a Goirigolzarri con la tarjeta y ahora Bankia me lo reclama”
El ex ministro socialista en los ochenta afirma que «nadie quería saber nada de estas tarjetas» en la entidad
Oliver Hart and Bengt Holmstrom win the Nobel prize for economic sciences
SUPPOSE that you and I are interested in opening a lemonade stand together. We agree that I will bring the materials we need (cups, stand and so forth) while you will make the lemonade. I’ll do the pouring while you mind the cashbox and at the end we will split the proceeds fairly. A doubt niggles, though. I am worried you might, at the end, try to hog the contents of the cashbox. We therefore decide to draw up a contract (common practice in the lemonade-stand industry) dictating that the returns to our operation must be split evenly. But then you start to worry: much of the success of our stand will depend on the quality of the lemonade, over which I have no control. What if I decide to slack off and piggyback on your lemonade-brewing genius, knowing that after you pour your sweat into the lemonade (not literally), the split is still an even 50-50? We therefore set to haggling over language in the contract setting out precisely how each of us should do our respective jobs.
Contracts play a critical role in the operation of the modern economy. They set out who is allowed to do what with the land they own, the people they employ and the songs they store on their smartphones….Continue reading