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New Indonesian industrial park on Borneo, feted as ‘green,’ will be powered by coal, report says

Published Sat, 22 Feb 2025 17:02:26 GMT

JAKARTA, Indonesia (AP) — A vast industrial park being built on the tropical island of Borneo that has attracted billions of dollars in foreign and domestic investment is damaging the environment in an area where endangered animals live and migrate.The showcase Indonesian project also initially will be partly powered by coal, according to an environmental impact assessment ordered by one of its developers and reviewed by The Associated Press, but not yet made available to the public.The project championed by President Joko Widodo reflects Indonesia’s struggle to balance profiting from its rich natural resources and meeting its environmental goals.The environmental impact assessment commissioned by PT Kalimantan Industrial Park Indonesia, which operates a large part of the current development, describes what is happening in the 15,000 hectare (32,100 acre) area, where plumes of dust mushroom into the sky along the Celebes Sea as heavy equipment fells trees and razes paddy fields. It ...

Sweden’s figurehead king celebrates 50 years on the throne

Published Sat, 22 Feb 2025 17:02:26 GMT

STOCKHOLM (AP) — Sweden this week marks the 50th anniversary of King Carl XVI Gustaf’s accession to the throne with four days of celebrations that culminate with a military parade through the capital.The scale of the golden jubilee may not reach the levels of royal anniversaries in Britain, but it’s still a rare chance for the monarchy to fete itself with pomp and ceremony in the egalitarian Scandinavian country.Carl Gustaf, 77, is the first king in the Swedish monarchy’s more than 1,000-year history to reach 50 years on the throne. And following the death of Queen Elizabeth II last year, he’s the second-longest reigning European monarch alive today, after his cousin Queen Margrethe II, who celebrated her 50th anniversary on Denmark’s throne last year.Margrethe and King Harald V of Norway are among the dignitaries on the guest list for the jubilee events, which include an opera performance at Drottningholm Palace outside Stockholm, the residence of the king and his wife, Queen Silvi...

Europe’s central bank faces close call on interest rates as threat of recession grows

Published Sat, 22 Feb 2025 17:02:26 GMT

FRANKFURT, Germany (AP) — Caught between stubborn inflation and weakening growth, the European Central Bank faces a close call Thursday on whether to halt its record run of interest rate hikes amid alarming signs that the economy could slide into recession. The decision comes as the ECB, U.S. Federal Reserve and other major central banks are nearing the end of their swift series of rate hikes aimed at squelching inflation — and hoping the damage to economic growth from higher borrowing costs is not too extensive.ECB President Christine Lagarde has said the latest rate decision will be made based on available data, a switch from the last nine meetings when rate hikes were signaled ahead of time. Annual inflation of 5.3% in the 20 countries that use the euro currency is still well above the bank’s target of 2%, robbing consumers of purchasing power and contributing to economic stagnation that has kept growth just above zero this year — supporting arguments for a 10th straight ra...

Championing Europe's SMEs: Commission provides new relief to boost the competitiveness and resilience of SMEs

Published Sat, 22 Feb 2025 17:02:26 GMT

The Commission is presenting a series of initiatives to address the needs of Europe's small and medium-sized enterprises (SMEs) in the current economic environment. Representing 99% of Europe's businesses, SMEs are essential drivers of Europe's green and digital transitions, but continue to face unpredictability and volatility as a result of a number of crises in recent years.The SME Relief Communication put forward today proposes new measures that will provide short-term relief, boost SMEs' long-term competitiveness, and strengthen fairness in the business environment across the Single Market. As part of these measures, the Commission is today also publishing new proposals for a Regulation on late payments in commercial transactions and a Directive establishing a Head Office Tax System for SMEs. Additional initiatives aim at further boosting SMEs' access to finance, improving the business environment and supporting SMEs' growth into mid-caps to unleash their full economic potential...

Action needed to secure coffee supplies, farmers’ incomes and biodiversity

Published Sat, 22 Feb 2025 17:02:26 GMT

Inaction by coffee companies is threatening the global supply of coffee, as well as farmers’ livelihoods and the natural world, according to the 2023 Coffee Barometer, an in-depth report on the state of sustainability in the industry. It warns that despite EU anti-deforestation laws, the clearing of forests is set to continue apace, writes Political Editor Nick Powell.Roughly 130,000 hectares of forest have been lost annually over the last 20 years due to land being cleared for coffee cultivation as farmers attempt to make ends meet. Yet their income remains at or below the poverty line in eight of the ten largest coffee-producing countries. This reality threatens the entire sector and has dangerous environmental implications.The Coffee Barometer, produced by Ethos Agriculture with the support of Conservation International and Solidaridad, also warns that rising temperatures due to climate change could drastically reduce the amount of land suitable for growing coffee by 20...

European Commission successfully issues €5 billion in its 9th syndicated transaction of 2023

Published Sat, 22 Feb 2025 17:02:26 GMT

The European Commission, which issues EU-Bonds on behalf of the EU, has raised a further €5 billion of EU-Bonds in its 9th syndicated transaction for 2023. The single tranche transaction consisted of a new 7-year bond due on 4 December 2030.Market conditions leading up to the transaction were more subdued, with investors awaiting clarity on further changes in euro-interest rates. However, the deal was met with strong interest from investors, who placed bids in excess of €46bn, making for an oversubscription rate of over 9 times and showing continued solid market access for the European Commission.The proceeds of this transaction will be used to support both the NextGenerationEU recovery programme and the Macro-Financial Assistance+ programme for Ukraine, in line with the Commission's approach of issuing single branded “EU-Bonds” rather than separately labelled bonds for individual programmes.With today's transaction, the Commission has completed approximately 16% of its €40bn fundin...

The top seven most expensive home sales in Los Gatos, reported the week of Sep. 4

Published Sat, 22 Feb 2025 17:02:26 GMT

A house in Los Gatos that sold for $7 million tops the list of the most expensive residential real estate sales in Los Gatos in the past week.In total, seven residential real estate sales were recorded in the area during the past week, with an average price of $3.1 million. The average price per square foot ended up at $993.The prices in the list below concern real estate sales where the title was recorded during the week of Sep. 4 even if the property may have been sold earlier.7. $488,000, condominium in the 14200 block of Lora DriveThe sale of the condominium in the 14200 block of Lora Drive in Los Gatos has been finalized. The price was $488,000, and the new owners took over the condominium in August. The condominium was built in 1963 and has a living area of 816 square feet. The price per square foot was $598. The condominium features one bedrooms and one bathrooms.6. $910,000, condominium in the 400 block of Alberto WayA sale has been finalized for the condominium in the 400 b...

Coach of Sharks’ AHL team said player who claimed he felt pressured to fight never raised the issue

Published Sat, 22 Feb 2025 17:02:26 GMT

SAN JOSE – The head coach of the San Jose Sharks’ AHL affiliate said an exit meeting with forward Martin Kaut, who said he felt pressured to fight by one of the minor league teams’ coaches, actually ended on a positive note with no indication that the 2018 first-round draft pick was unhappy.John McCarthy, a former Sharks forward who is entering his second season as the San Jose Barracuda’s coach, said Kaut didn’t raise any issues with him during his brief time with the team or after the season ended in April.“That’s the strange part is the end of the year meeting was very positive,” McCarthy said Wednesday, “and there was zero contention or complaints on anything along those lines. So, it’s unfortunate.”Kaut, 23, told the Czech website iDNES.cz in a story published in July that an unnamed Barracuda coach would choose an opponent, usually a fellow Czech-born player, before each game for him to fight. When Kaut refused, he said the coach responded by saying tha...

Padres’ Snell overpowers Dodgers in 6-1 victory for Friars’ first series win against LA since 2021

Published Sat, 22 Feb 2025 17:02:26 GMT

LOS ANGELES (AP) — The San Diego Padres’ postseason hopes faded long ago. Blake Snell’s bid to become the seventh player to win the Cy Young Award in both leagues is alive and well.Snell scattered one hit over six scoreless innings, Juan Soto and Luis Campusano homered and San Diego beat the Los Angeles Dodgers 6-1 on Wednesday night to win a series against their NL West rivals for the first time in two years.Snell (14-9), who won the AL Cy Young with Tampa Bay in 2018, allowed just a single to Mookie Betts leading off the game and struck out eight. He’s tied for second in strikeouts with Toronto’s Kevin Gausman with 217. Snell, who leads the majors with 93 walks, issued only one.“It’s something that you want to attack and try to get. It’s the whole goal, that and World Series. Two things you want,” Snell said about being honored as his league’s top pitcher.The Dodgers’ Chris Taylor said, “He’s definitely deserving. Tonight was the best he’s...

La eliminatoria sudamericana y las claves de su doble fecha inicial: Argentina y Brasil ratificaron su poderío futbolístico

Published Sat, 22 Feb 2025 17:02:26 GMT

(CNN Español) — La primera doble fecha de la eliminatoria Sudamericana dejó en claro que Argentina y Brasil siguen siendo los seleccionados más poderosos.Este es un vistazo del desempeño de las diez selecciones en el comienzo de una competencia con destino al Mundial que organizarán México, Estados Unidos y Canadá en el 2026.Argentina y su fútbol de excepciónEl delantero argentino Lionel Messi celebra tras marcar un gol durante el partido de fútbol de las Eliminatorias Sudamericanas para la Copa Mundial de la FIFA 2026 entre Argentina y Ecuador, el 7 de septiembre de 2023. (Foto de Luis Robayo/AFP)El campeón del mundo mostró sus credenciales de excepcional equipo al ganar los dos primeros partidos, que pedían distintas maneras de abordarlos.Los de Lionel Scaloni exhibieron en el juego asociado, en la tenencia del balón, en la agresividad en campo rival el tatuaje futbolístico que les dio la corona en Qatar. Tanto ante Ecuador, en condición de local, como ante Bolivia, de visit...