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On March 17, Moscow Mayor Sergei Sobyanin reported that 38 more drones flying towards Moscow were shot down between midnight and 6:13 a.m. local time. Sobyanins social media post indicated that this wave of drone downings in Moscow began on March 14, with dozens being shot down daily.On March 17th, Cao Cao Mobility announced the latest progress of its Robotaxi business: the company has launched over 3,600 virtual Robotaxi pick-up and drop-off points in Hangzhous Binjiang and Xiaoshan central districts, essentially achieving full coverage of core roads, office buildings, and entrances to residential and commercial areas within the region. It is understood that Cao Cao Mobility will continue to expand its operating area in Hangzhou, further increasing the number and density of pick-up and drop-off points, and accelerating the implementation of large-scale operations.Fitch: With the ongoing conflict in Iran and the continued disruption to gas supplies from Qatar, the Asian semiconductor supply chain faces increasing tail risks of helium shortages.The Hang Seng Tech Index turned negative, with stocks related to chips, nuclear power, and power equipment among the biggest losers.March 17th - The Federal Reserve is set to release an additional $200 billion in capital to several of the largest U.S. banks for their use. In recent years, the six largest U.S. banks have set aside substantial profits to meet stricter standards proposed by former Federal Reserve Vice Chairman for Supervision Barr. Much of this upcoming $200 billion release represents funds that are no longer needed. Later this week, U.S. regulators will unveil new proposals to update and, in some respects, relax U.S. capital regulations, a move that would boost stock buybacks, lending, and trading activity. However, this carries risks: deploying this additional capital too hastily could unhealthily lead to overheating of the economy and housing market. Such a large amount of additional capital will present banks with difficult choices. Goldman Sachs, JPMorgan Chase, and Morgan Stanley have all had to reconsider whether to return billions of dollars directly to investors through stock buybacks. Given the current high stock prices, this would be costly. All large lenders should be wary of expanding their lending too rapidly, as this almost always leads to an increase in bad debts as lending standards decline.

Plastic Consumption Is Projected to Nearly Double by 2050, According to Studies

Haiden Holmes

Feb 27, 2023 14:08

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According to research published on Monday, plastic consumption in G20 nations is on track to nearly double by the middle of the 21st century unless a comprehensive and legally binding global treaty to reduce consumption is drafted.


According to Back to Blue, a research group operated by the Economist Impact think-tank and the Nippon Foundation, existing initiatives to increase recycling or reduce single-use plastic consumption have "barely scratched the surface" and a more comprehensive global plan is required.


In Uruguay, the United Nations began negotiations on an agreement to combat plastic pollution in November, with the goal of drafting a legally binding treaty by the end of the following year. 175 countries have joined up for the negotiations.


Nonetheless, if negotiations fail, annual plastic production in G20 nations could reach 451 million tonnes by 2050 based on current development rates, according to Back to Blue - an increase of nearly 75 percent from 2019.


The research group stated, "There should be no illusions that the treaty negotiations will be anything but difficult and treacherous." "The likelihood of failure is high, both in terms of no treaty emerging and a treaty that is insufficient to reverse the plastic tide."


It called for a stricter ban on single-use plastic, as well as increased production taxes and mandatory programs to hold companies accountable for the entire lifecycle of their products, including recycling and disposal.


Back to Blue stated that the combined measures could limit annual consumption to 325 million tonnes by 2050, but that would still be a 25 percent increase from 2019 and the equivalent of 238 million garbage vehicles.


Brazil, the United States, Indonesia, and Turkey are among the G20 countries that have yet to introduce national prohibitions on single-use plastic products, according to the report.