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June 9, 2021, Eastern Standard Time 9:58 AM

June 9, 2021, Eastern Standard Time 9:58 AM

credit…Benoit Tesier / Reuters

Royal Dutch Shell will respond by accelerating efforts to reduce carbon dioxide emissions following a recent defeat in a Dutch court, the company’s leader said Wednesday.

Shell CEO Ben van Baden said he was “disappointed” with the ruling demanding that Europe’s largest oil company act faster to reduce greenhouse gases, but the company said. He added that he was planning exactly that.

“For Shell, this ruling doesn’t mean a change, but rather an acceleration of strategy,” Van Baden said in an article on LinkedIn. “We, Further reduce emissions in a sense It remains purposeful and informative, “he added.

On May 26, a district court in The Hague ruled that Shell needs to reduce global net carbon emissions by 45% by 2030 compared to 2019. Has a headquarters to protect them from the effects of global warming, such as rising sea levels.

Van Boden said the first reaction to the ruling was “surprise.” Because Shell was at the forefront of oil majors, setting goals to reduce emissions, including customers who burn their products in cars and jet engines. He also said that if Shell decides to stop selling gasoline and diesel today, people will rely on other providers for fuel. “It won’t help the world at all,” he said. Said.

Van Bowden said Shell will still appeal the ruling.

But when you think about it, Van Boden said he and his colleagues felt the “decision to face the challenge” raised in court.

Shell’s management said the ruling heralded an impending pressure on Shell, who has a long history dating back to the 19th century. Need more If you want to prosper in the coming decades, about climate change.

Tourists arriving in Barcelona, ​​Spain on Monday. The State Department has eased pandemic travel warnings in many countries.
credit…Emilio Morenatti / Associated Press

Wall Street stocks rose on Wednesday and European stocks were mixed as traders waited for more data on inflation.

The S & P 500 rose early by about 0.2%, temporarily surpassing the early May 7 record.

Whether the rise in consumer prices is a temporary obstacle for investors to welcome the reopening of businesses and consumers ready for consumption, or whether the rise indicates a persistent problem. Stock market momentum has recently stagnated as it tries to determine.

There was a big price increase Report in China The government said Wednesday that prices charged by factories, farmers and other producers rose 9% in May when the pandemic held back costs. But consumers are largely unaffected. China’s consumer price index only rose 1.3% year-on-year in May.

The closely monitored United States will shed more light on Thursday. Consumer price index The latest information on May is posted. A previous monthly report showed that prices were rising at the fastest pace in the last decade.

Prior to that report, US Treasury yields fell, reflecting alleviation of bond market concerns. Yields on 10-year Treasuries fell below 1.5%.

Also on Thursday, the European Central Bank is focusing on this debate to announce whether it will continue to accelerate the purchase of bonds, a tool to reduce the cost of borrowing in the eurozone economy.

West Texas Intermediate, the US benchmark crude, has risen to its highest level in more than two and a half years, surpassing $ 70 a barrel. Analysts at ING pointed out that lower US oil inventories helped push prices up. they again, State Department Relaxed pandemic travel warnings in many countries.

Last year, a Pennsylvania man impersonated a relative of former President Donald J. Trump and gathered thousands of followers on Twitter. In November He tricked Mr. TrumpI thought that I was writing a letter to one of my sisters who sent the message “LOVE!” To the man.

New York Times Later identified the man as Josh Hall, A 21-year-old food delivery driver and supporter of Trump, showed that he was using his account to raise thousands of dollars for fake political groups.

on Tuesday, Federal authorities arrest Mr Hall He was then charged with fraud and theft of personal information.

“I fraudulently led hundreds of victims to donate to a non-existent political organization and put my money in my pocket,” Hall said, pretending to be a member of the Trump family. Prosecutor Audrey Strauss said.To news release..

credit…Josh Hall

Hall’s arrest is a rare case of criminal accusation for creating a fake account on social media. Social networks such as Facebook, Instagram, Twitter, etc. Millions of fake accounts are rampant, Many pretending to be politicians, Celebrity And Soldier To Deceive moneyHowever, few of the people behind the fake face the consequences.

Hall masqueraded as five members of Trump’s family on Twitter and attracted the attention of the Federal Bureau of Investigation after attracting more than 160,000 followers. For over a year, he was, among other things, President’s brother Robert.・ I pretended to be a playing card. Baron Trump, the president’s teenage son. And Dr. Deborah L. Burkes, then the White House coronavirus coordinator.

He used his account to instruct people to donate to a political organization called President Trump’s Gay Voice. Hall later told The Times that the group did not exist. He brought over $ 7,300. The Justice Department said Tuesday that Mr Hall had kept his money.

According to the Justice Department, Mr Hall appeared in federal court in Harrisburg, Pennsylvania on Tuesday. He could be sentenced to up to 22 years in prison, the agency said.

I couldn’t contact Mr. Hall immediately on Tuesday. He knew last year in The Times that his fake account was an obvious parody, and everyone, including Mr. Trump, read some of their typical minor posts. I said it should be.

“There was no malice behind it,” Hall said. He mentioned the abbreviation for Mr. Trump’s slogan, “Make America Great Again,” and added, “I just gathered and enjoyed the supporters of MAGA.”

  • Rosetown Motors, an electric vehicle start-up that aims to revive the closed General Motors plant in Ohio, On Tuesday, he said he did not have enough cash to start commercial production. Electric Pickup You may need to close the truck door. In an application to regulators, Lordstown said it would not be possible to start “commercial-scale production” without raising more money from investors and creditors. He added that “there is a serious doubt about the ability to survive as a going concern.” This is a legal term often used to warn investors that a company may not survive.

  • Ohio Attorney General Dave Yost Proceedings on Tuesday We are pursuing a novel approach to declaring Google as a utility and subjecting it to government regulation. The proceedings seek to use more than a century-old law to regulate Google by applying the legal designations historically used for railroads, electricity, and telephones to search engines. If Google is declared a so-called carrier, such as a utility company, you will not be able to prioritize your products, services, and websites in search results.

Senator Angus King, independent of Maine, said people were able to get tax deductions because
credit…J. Scott Applewhite / Associated Press

The new bill, which will be introduced on Wednesday, aims to ensure that the money promised to charities reaches those who need it more quickly.

The bill by Senator Angus King in Maine and Senator Chuck Grassley in Iowa is similar to philanthropic 401 (k), but with indefinite funding for a donor-advised fund with few regulations and requirements. The purpose is to prevent it from being left behind. Over $ 140 billion are sleeping in these accounts. An additional $ 1 trillion is in donations from private foundations such as the Bill & Melinda Gates Foundation, and you only have to pay 5% of your assets each year. Nicholas Coolish reports to The New York Times..

The bill closes a loophole to expedite donations to active charities, and the Foundation meets the 5% annual payment requirement by donating to a donor-advised fund that currently has no payment requirements. You will not be able to. The bill also prohibits the Foundation from counting the donor’s family salaries and travel expenses to a minimum of 5%.

The proposed law requires that donors who want immediate full tax benefits must ensure that their funds are distributed within 15 years. This includes important developments in community foundations that support local institutions in small cities and towns across the United States. Under the bill, donors can hold up to $ 1 million in community foundations without falling under the proposed new payment rules.

President Biden on Wednesday Withdraw the executive order of the Trump era This banned the popular app TikTok and sought to replace it with one that required a broader review of applications managed by Americans and many foreign-managed applications that could pose a security risk to their data.

According to a memo distributed by the Commerce Department and obtained by the New York Times, the order addresses a large number of applications and reinforces recent actions taken by the Biden administration to curb the growing influence of Chinese tech companies. Thing.

This is to address the challenges left by President Donald J. Trump, who fought to ban TikTok and force China-owned parent company ByteDance to sell the app. This is the first important step taken by. Shortly thereafter, legal issues arose and the app remained available while the battle in court was stagnant.

According to the memo, Mr. Biden’s order “to ask the Secretary of Commerce to use a criteria-based decision framework and rigorous evidence-based analysis to assess and address the risks posed by foreign-run applications. I will instruct you. ” “As justified, the secretary decides on the appropriate action based on a thorough review of the risks posed by foreign hostile connected software applications.”

This is a developing story. Check for the latest information.

Live Business News: Stocks, Markets, Inflation

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