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The world's first trillionaire could be crowned within a decade

DAVOS, Switzerland (AP) — The world could have its first trillionaire within a decade, anti-poverty organization Oxfam International said Monday in its annual assessment of global inequalities timed to the gathering of political and business elites at the Swiss ski resort of Davos. Oxfam, which for years has been trying to highlight the growing disparities between the super-rich and the bulk of the global population during the World Economic Forum’s annual meeting, reckons the gap has been “supercharged” since the coronavirus pandemic. The group said the fortunes of the five richest men — Tesla CEO Elon Musk, Bernard Arnault and…

World’s Largest Green Hydrogen Plant Will Take A Poke At Russian Gas

The back-and-forth debate over green hydrogen took another turn this week, when news broke that Mitsubishi is putting up $690 million to help build the world’s biggest green hydrogen plant, to be located in the Netherlands. It’s a whopper, all right. The new plant will be far bigger than any other conceived to date. More importantly, it will help patch up some holes in the energy independence plan of Europe, where Russian gas has been clinging to a foothold despite sanctions. As reported by Nikkei Asia over the weekend, the Japanese trading firm “Mitsubishi Corp. looks to invest over 100 billion yen ($690 million) to build one of…

Can central banks fight climate change? Researcher explains role in promoting…

January 15, 2024 This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: fact-checked trusted source proofread by Cynthia McCormick Hibbert, Northeastern University When you think of ways to reduce carbon emissions and cool a scorching planet, involving the U.S. Federal Reserve Board may not immediately spring to mind. But Jennie C. Stephens, dean's professor of sustainability science and policy at Northeastern University, says central banks play a pivotal role in determining whether society continues to…

China may be losing its sway over Taiwanese business

O N JANUARY 13 TH William Lai Ching-te was elected as Taiwan’s president. He thus secured a third term for his pro-independence Democratic Progressive Party ( dpp ) . The vote will shape relations between self-governing Taiwan and China, which wants the island to be governed from Beijing. It will also affect the commercial relations between the two—and, because Taiwanese manufacturers sit at the heart of critical global supply chains, between them and the rest of the world. For Taiwan’s big businesses, the cross-strait tensions are unwelcome. Taiwanese entrepreneurs have been building factories on the mainland since the 1980s…

APM Terminals to invest $500 million in Louisiana port

APMT announced the execution of a letter of intent for the terminal with the Plaquemines Port Harbour and Terminal District (Plaquemines Port), which had selected AMPT to operate the planned deepwater terminal. Plaquemines Port will lease the land to APM Terminals under a 30-year agreement with extension options. Related: APM terminals completes land purchase for Suape terminal APM Terminals estimates the initial investment in terminal infrastructure will be approximately $500 million, which will be privately funded. The initial phase will encompass 200 acres, on-dock rail, and a berth capable of handling the largest ships now…