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As heavy rains strike northeastern Brazil, at least six people are dead and thousands of others have been displaced.
The federal government announced on Saturday that heavy rains have caused tens of thousands to be displaced in the states of Pernambuco, and Paraiba. Pernambuco experienced flooding and landslides due to heavy rainfall in Recife, the capital of the state, and surrounding areas. Two people were killed in Recife, and two more in the neighboring town of?Olinda. Around 1,500 people were left homeless or displaced. According to the Integration and Regional Development Ministry of Brazil, in 'Paraiba two people were killed and 1,800 left homeless or displaced. The worst affected cities included Conde, Joao Pessoa, and Campina Grande. The National Center for Risk and Disaster Management sent out 22 alerts in the midst of the rainy season. The 'operational level has been raised to maximum alert due to the impacts in Pernambuco, Paraiba, and the weather forecasts for the region," said the'ministry. Although the rain has stopped and conditions are improving, it is still important to remain vigilant throughout Saturday. Luiz 'Inacio Lula Da Silva, President of the Republic of Brazil, said that he spoke with local authorities and offered his support. "The government continues monitoring?the situation in order to provide all the necessary assistance," he said.
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Berkshire CEO Abel: 'We're back at first base'
Greg Abel, CEO of Berkshire Hathaway, welcomed on Saturday a recent court ruling that could limit liability at its PacifiCorp Utility business. The company is defending against lawsuits related to wildfires in Oregon and northern California. Abel, speaking at Berkshire Hathaway's annual shareholders meeting in Omaha Nebraska, said that the Oregon state court decision on April 8, stating that a major wildfire case cannot proceed as a mass action, relieves PacifiCorp of pressure as it attempts to convince regulators to allow it to charge enough for power. He said that the threat had been reduced. PacifiCorp is defending itself against a lawsuit over a number of?wildfires? in Oregon and California. Among them, several victims have blamed the company for failing to turn off power lines at a windstorm that occurred during Labor Day weekend 2020. A 2023 Oregon jury found PacifiCorp grossly negligence, potentially exposing the Portland utility to liability of tens or even hundreds of millions of dollars in future damages trials. PacifiCorp said that it faced claims of up to $55 billion in the past. The Oregon appeals court ruled that the trial judge had erred by instructing the jury to assume that PacifiCorp was guilty of wrongful conduct for all fire victims. Prior to that decision, 171 Plaintiffs were awarded approximately $1.1 billion during a series "mini-trials", which began in January 2024. The trials were expected to continue until 2028. Abel said: "They told me to go back to the beginning and start again." PacifiCorp is working with several Western?U.S. States should cap their liability for wildfires and create state-administered funds to compensate victims. Utility companies like PacifiCorp believe that this arrangement offers them a safety net, allowing them to invest in grid infrastructure and maintenance without worrying about indeterminate litigation straining their liquidity. Abel stated that PacifiCorp wants to create a "regulatory contract" in which it could charge enough for customers to justify spending on infrastructure without taking excessive risks, but is met with resistance from politicians and regulators who don't want to see rates go up. California has increased its wildfire fund to $18 billion after multiple fires ravaged parts of the Los Angeles region in January 2025. Abel called Utah's protections that allow large utilities to surcharge their customers and limit liability for some claims the "gold standards." Oregon, in particular, has not yet followed. Berkshire Hathaway Energy is the immediate parent of PacifiCorp. Berkshire purchased the utility in 2006 for $5.1 billion. Reporting by Jonathan Stempel, Omaha, Nebraska. Editing by Colin Barr and Sharon Singleton.
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Thyssenkrupp and Jindal agree on a halt to the sale of a steel unit
Thyssenkrupp announced on Saturday that it had 'paused' talks with India's Jindal Steel International about a potential'sale' of the 'German industrial group's' steel unit. This is a setback to CEO Miguel Lopez’s restructuring efforts. Reports in March indicated that discussions may be canceled due to disagreements over pension liabilities, investments, and energy costs. Four people who are familiar with the issue were cited. Jindal Steel International made a bid indicative?for Thyssenkrupp Steel Europe in the past year. This led to months of due diligence, and negotiations on a possible purchase of Europe's?second-largest steelmaker. Thyssenkrupp stated that "the?original assumptions, and prerequisites of a possible sale of Thyssenkrupp Steel... have changed significantly in recent months," adding that it was a mutual decision to stop the talks. The EU's safeguard measures have boosted Europe's steel industry, protecting it from cheap Asian imports. Analysts say that the steel industry is set to rebound, and the first quarter 2026 may'represent an inflection-point,' pointing out a rise in the price of steel on the continent. (Reporting and Editing by William Maclean, Keith Weir and Keith Maclean)
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China's Commerce Ministry blocks US Sanctions against Five Refineries
According to Xinhua, the Chinese Ministry of Commerce announced on 'Saturday that it had issued a?injunction against U.S. sanctions imposed upon?five Chinese refining companies accused of allegedly buying Iranian oil. The Ministry named the five refineries as Hengli Petrochemical Refinery (Dalian), and so-called 'teapots' Shandong Jincheng Petrochemical Group Hebei Xinhai Chemical Group Shouguang Luqing Petrochemical, and Shandong Shengxing Chemical. The U.S. Treasury imposed sanctions in April on Hengli Petrochemical accusing the company of purchasing?billions in dollars of Iranian oil. This was an increase in Washington's ongoing effort to 'curb Tehran's revenue from oil. The Trump administration,?last year, imposed?sanctions against the other four refineries that were named by the Ministry. The ministry stated that the U.S. sanctions are in violation of "international law and basic norms" of international relations. The ministry said that it had issued an injunction as a result. The Ministry of Foreign Affairs stated that "the injunction specifies that the United States can't recognize, implement or comply with sanctions imposed on?the above?five Chinese firms." The sanctions caused some difficulties for the refiners, such as difficulty receiving crude oil and having to sell refined products with different names. Teapots make up a quarter of Chinese refinery capacity, but they operate at narrow margins - and sometimes even negative ones - due to a tepid demand.
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Washington Hilton attack highlights hotel industry's costly and nagging security issue
The suspect accused of storming a checkpoint on Saturday and firing a gun near the White House Correspondents' Association Dinner mocked the security measures at Washington Hilton that allowed him to be so close to Donald Trump. In a manifesto written before the attack, the hotel guest Cole Allen, identified by law as a 31-year-old man, wrote: "I expected surveillance cameras everywhere, bugged rooms, armed officers every 10 feet and metal detectors to the roof." "What I got," Allen added, "is absolutely nothing." Allen's attack has 'heightened a problem that the hotel industry has been facing for decades: how to maintain a warm and welcoming atmosphere while tightening security. Some security companies are now offering AI-powered monitoring systems, but hotels are reluctant to use anything that might increase costs or invade the privacy of their guests. Security will continue to improve as technology continues to identify strange behavior. "At the end of it all, this is a hospitality industry where the customers must feel welcomed," said Nicolas Graf a professor at New York University. Allen then moved up the building, before charging the checkpoint located on the floor above the dining room where Trump and 2,600 journalists were having dinner with government officials. Trump and his guests were able to escape safely, but this breach shows that the real risks at events like these are inside the hotels. Hotel attackers exploit the same vulnerabilities repeatedly: multiple entry points, guests arriving all hours of the day, uneven screening and blurred boundaries between public and protected areas. Morgan Stevens is the senior vice president of global security operations for Crisis24. She noted that not every guest is screened in the same way. Hotels need to increase security in order to save lives but they also have to be careful with their expenditure. The top nine hotels, casinos and resorts by revenue are expected to generate about $102 billion between 2025 and 2025. However, margins have been squeezed in recent years. Washington Hilton Hotel said that it operated under "stringent Secret Service protocols" after the attack. Hilton Worldwide Holdings refused to comment on this story. However, the steps taken after the attack Saturday were familiar. The hotel was sealed off by law enforcement. Investigators traced the suspect’s steps. Experts in security debated whether anything could have been done better. Allen was accused of attempted assassination and discharging a gun during a violent crime, and illegally transporting firearms and ammunition across state lines. He had taken a train to his hometown in California. He hasn't yet entered a guilty plea. Hard to Secure Hotel rooms are rarely closed for major events, but access is restricted by separate elevators and restricted floors. Experts say that it usually takes a few days or a week to prepare a hotel for a big event. Security teams carry out site surveys, create credential systems and divide the hotel into controlled zones. Other guests can still enter the lobbies and restaurants, as well as the guest floors, alongside those who have been screened. They said that this creates insurmountable security gaps. A spokesperson for the American Hotel and Lodging Association said that hotels employ a multi-layered approach to safety and protection. The spokesperson stated that precautions include trained personnel, surveillance systems and access control, as well as coordination with law enforcement. Robert McDonald, assistant Professor at the University of New Haven, and retired supervisory Secret Service Agent, said that the agency usually works with hotel security, the local police, and the White House administration in order to develop a plan for security rather than shutting down hotels outright. The latest incident has shaken confidence in this model. Trump claimed that the hotel "was not a particularly safe building." Reports said that U.S. officials were reassessing the security of the Washington Hilton. President Ronald Reagan had been shot outside the hotel by John Hinckley in 1981, prompting some to call it the "Hinckley Hilton." McDonald stated that after the shooting, the Hilton installed a garage that allowed presidential motorcades access to the building. It also increased the use of magnetometers, as well as tightened press controls. Other major hotel attacks around the world have led to a change in security. The 2008 attack on the Taj Mahal Palace Hotel, Mumbai, that left 31 people dead in the hotel was a turning point. Graf, from NYU, said that "the industry has improved significantly" since the Mumbai attacks. A man who shot out of the window from a 32nd floor suite in the Mandalay Bay Hotel in Las Vegas in 2017 killed 58 people at a concert nearby. It was the deadliest mass killing in U.S. History. Many more people were injured. Costly Security Upgrades Experts say that implementing AI-powered weapon detection in hotels would be expensive and complex. In December 2024, shortly before the murder of UnitedHealthcare CEO Brian Thompson in front of a Hilton hotel in Midtown Manhattan by a gang of terrorists, AI security company Xtract One received a request from the chief security officer for a major hotel 'chain regarding its weapons detection system. No rollout has yet taken place. Peter Evans, CEO of?XtractOne, said that the problem is complex and cannot be solved by a single device. He noted the large number of people, the multiple entrances and the wide variety of luggage that moved through large hotels. Evans noted that interest has increased in certain international markets. This is especially true in Mexico, where cartel violence and fear of travel have hurt revenues. Anthony Varchetto said that hotels allocate resources to external threats, while underestimating the risks posed by guests. He said that this is a common mistake. "People become complacent and understaff. A lot of this comes down to the budget."
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Mainichi reports that Japan's Taiyo Oil will receive cargoes of oil from Russia’s Sakhalin-2.
The Mainichi?daily?reported?on?Saturday, citing Japan’s Ministry of Economy, Trade and Industry. After the invasion of Ukraine by Russia in 2022, Japan has stopped buying oil from Russia. A?U.S. The Sakhalin-2 Project, which produces?mostly liquefied gas, is exempt from U.S. Tokyo is looking for alternative oil sources after the U.S. Israel war against Iran has largely cut off imports from the Gulf. The Gulf was Tokyo's primary oil source until the Middle East conflict began in late February. Gazprom, the Russian state-owned gas company, is the controlling shareholder of?Sakhalin-2 Oil and Gas Project. Mitsui & Mitsubishi are also shareholders. Mainichi, citing an official from METI, reported that cargo is set to arrive in the Ehime Prefecture, located in western Japan. Japan has also obtained supplies from the U.S., and other destinations that bypassed the Strait of Hormuz. METI and Taiyo Oil did not respond to a request for comment immediately.
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Japan and Vietnam look to deepen partnership in energy and minerals
Sanae Takaichi, the Japanese Prime Minister, pledged on Saturday to strengthen bilateral relations with Vietnam. Energy?cooperation, and vital minerals were at the forefront of his commitments, during a?meeting with Vietnamese Prime Minister Le Minh Hung. According to Vietnamese government data and customs, the pledge was made as "new" Japanese investment in Vietnam dropped 75% on an annual basis to $233 millions in the first three months, while bilateral trade grew 12.3%, to $13.7 billion, over the same time period. The two leaders discussed how to deepen the Comprehensive Strategic Partnership, established in?2023, with a focus on energy, critical mineral, artificial intelligence and semiconductors, as well as space. After the meeting, Takaichi informed reporters that "the two sides have identified economic security as a priority area of bilateral cooperation". She added, "With regards to critical minerals... both parties agreed to strengthen their close coordination in order to ensure stable supply and strengthen supply chains." Vietnam and Japan have signed six agreements in a joint effort that covers infrastructure, agriculture, digitalisation, technology and climate action. Japan is still one of Vietnam's biggest foreign investors. Many Japanese multinationals have large manufacturing plants in the country. Vietnam is seeking assistance from Japan and other nations for oil supply as conflict in the Middle East drives prices up and disrupts supply chain. Hung stated that under the Power Asia Initiative, which is a $10 billion initiative to "support Asian countries in their energy independence", Japan will help arrange crude oil supplies for Vietnam’s Nghi Son Petrochemical Complex and Refinery. Takaichi is also scheduled to meet Vietnam’s Party Secretary and president To Lam on Saturday afternoon. He will also deliver a key note speech at Vietnam National University. This marks a decade since Shinzo Abe, Japan's former prime minister, introduced the "Free and Open Indo-Pacific Strategy". Her speech is expected to focus on?autonomy for regional nations and resilience. Hung stated that Vietnam supported Japan's regional initiative, the Free and Open Indo-Pacific Vision. This vision is aligned to?the ASEAN Outlook for the Indo-Pacific?, and is in accordance with international laws. It also "contributes positively" to peace, stability and cooperation, as well as development, throughout the Indo-Pacific region.
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Takaichi, the Japanese PM, will meet with Vietnamese leaders in Hanoi
Sanae Takaichi, the Japanese prime minister, will meet To Lam, the leader of Vietnam in Hanoi on Saturday. The two countries are trying to strengthen ties in light of a sharp decline in Japanese investment in Vietnam. A Japanese official in the foreign ministry said that both sides will discuss ways to strengthen a Comprehensive Strategic Partnership, established in 2023. The focus of their discussion is on energy, technology and critical minerals, as well as regional stability. Japan is still one of Vietnam's biggest foreign investors.?Many Japanese multinationals operate large manufacturing facilities throughout the country. According to data from the Vietnamese government, new Japanese investment pledges fell by 75% in the first three months of this year, falling to $233 millions. The official stated that Takaichi will discuss with Vietnamese companies the difficulties they face, such as delayed payments for completed work and difficulty gaining access to major infrastructure projects. Last year, Japan announced that it was withdrawing from a nuclear project in?Vietnam due to an excessively strict construction schedule. Days before the trip, Hanoi announced that it would reconsider a ban of?petrol powered motorcycles within its city center, a policy which had been criticized by Honda. According to Vietnamese customs data, despite investment concerns, the bilateral trade has been strong. It grew 12.3% compared to a year ago to $13.7 billion in the first three months. Takaichi will also meet with her Vietnamese counterpart Le Minh Hung and deliver a speech on 'the evolution of Japan's 'Free and Open Indo-Pacific Strategy" at the Vietnam National University before heading to Australia. Reporting by Khanh Vu and Tamiyuki in Tokyo, editing by Tom Hogue.
The corporate agreement that protects the Amazon from soy agriculture is starting to crack
Brazilian soy farmers have been pushing deeper into the Amazon rainforest in order to plant more crops. This puts pressure on an historic deal signed 20 years ago that was meant to slow down deforestation.
A loophole exists in the Amazon Soy Moratorium. This voluntary agreement was signed in 2006 by the top grain traders of the world that they would no longer buy soy produced on deforested land after 2008.
Moratorium
The law protects the old-growth forest that has not been previously cleared. However, it excludes other types of vegetation or forests that have grown back on land that was cleared in the past, also known as secondary forests.
Farmers can plant soy on this land without violating the Moratorium's terms. They could even sell it as being deforestation free.
The latest official annual report, which covers crop year 2022-2023 showed that the soy planted in virgin forests has nearly tripled from 2018 to 2023. This amounts to 250,000 hectares or 3.4% of the total soy grown in the Amazon.
The study is only limited to those municipalities which grow more than 5,000 hectares soy.
Xiaopeng Song is a professor in the Department of Geographical Sciences at the University of Maryland. He has been tracking the expansion of soybeans over the last two decades and found that the forest loss was more than four-times as high.
Satellite data that he exclusively analyzed for shows that 16% or 1.04 million hectares of Brazilian Amazon land is under production for soybeans. This includes areas where trees were cleared since 2008, which was the date set in the Moratorium.
Song said, "I'd like to see secondary forests and recovered forests included in the Moratorium." It creates loopholes, if we limit it only to primary forests.
Abiove overseeing the Moratorium on deforestation said in a press release that the agreement is intended to curb the destruction of old growth forests, while other methods have broader criteria which could lead to "inflated" interpretations.
Abiove refused to provide granular information, so it was impossible to compare the two.
The data in the Moratorium Report comes from Brazil's National Institute of Space Research. Its assessments are internationally recognized and independently monitored.
Abiove confirmed that it knew some soy had been planted in areas where the regrown forest had been cut.
The difference in how a forest is defined has huge implications on conservation. Climate change-driven deforestation, heat and drought are bringing the rainforest to a tippingpoint beyond which its irreversible transformation begins. Scientists are calling for an end to deforestation and increased efforts in reforestation.
Viola Heinrich is a postdoctoral researcher with the GFZ Helmholtz Centre for Geosciences who has studied extensively secondary forests in Amazon. She said that these are "crucial" to limiting global climate change, even if they were initially less biodiverse.
We cannot achieve our goals
Paris Agreement
"We cannot increase the carbon sink without increasing ecosystems' regeneration." She said.
Carbon storage and absorption
Secondary forests store less carbon than old-growth trees, but they absorb it faster.
'STOLEN AGAIN'
Farmers were clearing land on a hot afternoon in late 2012, near Santarem. Santarem is a port town by the Amazon River. The stacked felled trees, which were ready to be burned, were neatly arranged in rows. Satellite images revealed that some of the trees were over 30 years old and part of an abandoned secondary forest, which was once cleared to make room for cattle.
Gilson Rego of the Pastoral Land Commission (a church-affiliated organization that works with locals who are affected by deforestation) pointed out areas in which soy was planted.
Rego has seen the area dedicated to crops grow in the last five year.
More than a dozen farmers, both subsistence and soy producers, who were interviewed said that the Cargill terminal nearby was the most attractive because it reduced logistics costs. Cargill has not responded to requests for comments.
Brazil is set to surpass the United States as the largest soy exporter in the world by 2020.
Around two thirds is shipped to China. Cofco, the largest buyer in China, has committed to the Moratorium. It is almost exclusively used to fatten livestock for meat production.
Song estimates that if the Moratorium had not been implemented and conservation efforts were not undertaken, an additional 6,000,000 hectares would have been lost in the Brazilian rainforest to soy, based on the rate of expansion. He said that Bolivia was a hotspot for deforestation.
Brazilian farmers have been against the Moratorium for years. They complain that even small amounts of deforestation will cause traders to refuse purchases from whole farms. Abiove has considered changing this policy.
At the moment, thousands of properties covering 10% of the footprint of soy in this region are blocked.
Adelino Avelino noimann, vice president of Para state's soy farmers association, located in Santarem, said that the soy boom created opportunities for a country in poverty.
Noimann said, "It is unfair that other countries could deforest or grow while we are stifled by laws not even our own."
LEGAL ATTACKS Farming organizations allied with right wing politicians, a once fringe movement, launched lawsuits and legislation attacks against the Moratorium, in Brasilia and half a dozen agricultural states. They sought to weaken the provisions. A justice of Brazil's Supreme Court announced at the end of April that it would allow Mato Grosso to remove tax incentives for signatories to the Moratorium.
The full court must still confirm the ruling.
Andre Nassar has hinted at the possibility of a weakening of the rules in order to appease the farmers.
Nassar, in April, told Senators that the solution was not to end the Moratorium. "Something must be done." ADM, Bunge Cargill Cofco, Louis Dreyfus Company, and other global traders signed the agreement in 2006. Abiove, the grain traders that it represents, have refused to discuss details publicly. However, Greenpeace which has been involved in some discussions and is part of Abiove's group, stated last year that traders were pushing to weaken this agreement behind closed doors.
Even with its flaws, environmentalists such as Andre Guimaraes - an executive director of IPAM, a nonprofit organization that monitors the accord - said it was still important.
He said, "We continue to see the expansion in soy in Amazon." But it could have been worse. Environmentalists say that loopholes should be closed to strengthen the law.
Para is a place where farmers have been moving from all over the country. This includes the heartland of soy, Mato Grosso.
Edno Cortezia is the president of the local farmer's union. He said that the farmers can harvest soy, wheat, and corn on the same plot within a year.
In the municipality of Belterra, near Santarem only a cemetery and a school were spared from soy expansion.
Raimundo Edilberto Sousa Freitas (the principal) showed court documents and supporting evidence in two cases where 80 children and teachers displayed symptoms of pesticide poisoning last year.
The records show that a farmer was fined later, but the crop continues claiming more area each year.
The last remnants of the once lush biome are a few large trees, protected by law, that remain in the soy fields. (Reporting and editing by Manuela Andréoni, Brad Haynes, and Claudia Parsons; Additional reporting by Ana Mano, Sao Paulo)
(source: Reuters)