Climate change: Australia wrestles with its coal mining dilemma
For more than 200 years, workers at the Port of Newcastle have loaded ships with coal dug out of nearby mines for transport to Asia and beyond. But with global action to tackle climate change set to decimate the trade, the management at the world’s biggest coal port is preparing for a future without the fossil fuel that generates 60 per cent of its revenues.
“The future of coal is obviously questionable and we have to prepare for that,” says Roy Green, chair of the port, which is a gateway to the Hunter Valley, a coal mining region 280km north of Sydney. “We are likely to see a continuing flattening of coal volumes through the port and ultimately a decline, as the world switches away from coal-fired power.”
Global cooling to Morrison s Australia brisbanetimes.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from brisbanetimes.com.au Daily Mail and Mail on Sunday newspapers.
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Spot gold added 0.1% to $1 739.65 an ounce at 12:41 p.m. in Singapore.
By Ranjeetha Pakiam, Bloomberg
8 Apr 2021 08:47
Image: David Gray/Bloomberg
Gold steadied, tracking movements in the dollar and bond yields, with investors weighing the latest insights into the Federal Reserveâs stance on monetary policy and inflation risks.
Minutes from the Fedâs March 16-17 meeting released Wednesday showed officials were united on the need to see more progress on the recovery before scaling back their massive bond-buying program. They also indicated any spikes in inflation which could be a driver for bullion are likely to be transitory. Traders will look for further comments from Chair Jerome Powell, who is due to take part in a panel about the global economy on Thursday.
Move Over China as Australia Finds New Home for Barley in Saudi msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Cathay Pacific Posts $2.8 Billion Loss in Toughest Year Ever
Bloomberg 3/10/2021
Cathay Pacific Airways Ltd. reported a net loss of HK$21.65 billion ($2.8 billion) for 2020, a period the carrier described as “the most challenging 12 months of its more than 70-year history” as the coronavirus pandemic brought unprecedented disruption to global air travel.
The outlook isn’t much better, according to Chairman Patrick Healy, who said “it is by no means clear how the pandemic and its impact will develop.” Hong Kong has largely closed its borders to non-residents and imposed 21-day mandatory hotel quarantine on those who return. Cathay expects to operate at well below 50% passenger capacity in 2021.