Dr. Marty Makary on December 12, 2018 in New York City. Noam Galai | Getty Images A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions. Happy Tuesday! President-elect Donald Trump's pick to lead the Food and Drug Administration appears to be quelling fears about a major disruption to the biotech and pharmaceutical industry over the next four years. Trump on Friday nominated Dr. Marty Makary, a pancreatic surgeon at Johns Hopkins University, as FDA commissioner. If confirmed by the Senate, Makary would be in charge of regulating food, thousands of vaccines and other drugs, medical devices and tobacco products. He would answer to Trump's more controversial pick to lead the Department of Health and Human Services, Robert F. Kennedy Jr. , a prominent vaccine skeptic and former environmental lawyer, who also needs Senate confirmation. Both Kennedy and Makary have openly criticized federal health agencies, and both most recently slammed the government for not prioritizing chronic diseases. But unlike Kennedy, Makary has a more traditional health background as an experienced medical doctor. Makary is also an executive of the telehealth company Sesame, which connects consumers to physicians who can prescribe compounded versions of popular weight loss drugs. Makary is likely to have a more "reasonable approach to running the FDA than has been feared," BMO Capital Markets analyst Evan Seigerman wrote in a note on Sunday, adding that Makary "appears well-versed across the continuum of U.S. healthcare and is supportive of evidence-based medical intervention." "All in, we think the FDA pick should allow BioPharma investors a reprieve, removing uncertainty and may reverse significant draw downs the week RFK Jr. was nominated head of HHS," Seigerman said. Some health experts and investors feared that Trump would pick someone to lead the FDA who lacks a proper medical background and could politicize the drug regulation process at the agency, threatening new product approvals and innovation more broadly. "Makary we expect will promote technology/innovation in a way that offers some reprieve for those that [are] fearing a department more aligned with different virtues," Jared Holz, Mizuho health care equity strategist, said in an email last week. He added that Makary's "familiarity with the [healthcare] industry we believe will be noted often." So, what are Makary's views on health in the U.S.? Makary has long challenged the U.S. medical establishment, researching and publishing books about the high costs of health care, the lack of transparency in medicine and medical errors. Makary does not appear to hold the same anti-vaccine views as Kennedy, but has recently made statements indicating support for Kennedy's "Make America Healthy Again Platform." Makary earlier this year said "the greatest perpetrator of misinformation has been the United States government with the food pyramid." Makary has been a controversial figure in other ways, particularly during the Covid-19 pandemic. He aligned with traditional public health experts in some ways, supporting universal masking and early doses of the vaccines. But Makary also opposed vaccine mandates and questioned the value of booster shots for children. He also questioned lockdowns, among other tools that public health officials pushed. In addition, he emerged as a critic of the FDA during the pandemic, slamming the agency for moving too slowly to authorize certain products for Covid. Seigerman said Markary's support of informed patient choice may lead to a lower bar for product approvals. That will likely be offset by a higher bar for disclosing the risks and benefits of a drug to patients, along with more requirements for monitoring treatments after their approval. "In our view, Dr. Makary's willingness to be critical of the system, flexible, and reasonable in his opinions and support of patient choice is a positive," Seigerman said. But Seigerman noted he is much more cautious about Trump's pick to lead the Centers for Disease Control and Prevention: Rep. Dave Weldon, a medical doctor and Republican congressman from Florida. That's because of Weldon's long history of criticizing vaccinations. We'll be watching closely to see whether Trump's health picks get confirmed by the Senate, so stay tuned for our coverage. Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com . Latest in health-care tech: Neuralink approved for new studies, company says Jonathan Raa | Nurphoto | Getty Images Elon Musk's neurotech startup Neuralink on Monday announced it has been approved for a new trial that will assess whether patients can use a brain implant to control an assistive robotic arm. Neuralink is building a brain-computer interface, or a BCI, that allows paralyzed people to control external devices like computers and smartphones with their thoughts. The company's flagship implant records neural signals using 64 "threads" that are inserted directly into the brain, according to Neuralink's website . Two human patients have been implanted with the BCI so far as part of Neuralink's "PRIME Study," which aims to prove that the system is safe and useful. Neuralink's new trial, called the "CONVOY Study," will explore whether patients can use the same BCI to operate a robotic arm, the company said in a post on X , which is also owned by Musk. Patients will be able to cross enroll in both studies. "This is an important first step towards restoring not only digital freedom, but also physical freedom," Neuralink said in the post. It's not immediately clear when the study will begin or how many patients will participate. Neuralink plans to share more information about the study, according to the X post. The company did not respond to CNBC's request for comment. Neuralink also announced last week that it has been approved to launch its first international trial in Canada . Like the PRIME Study, the goal of the trial in Canada is to prove the safety and efficacy of Neuralink's technology, according to a blog post. Patients with quadriplegia from a spinal cord injury or a degenerative disease like amyotrophic lateral sclerosis (ALS) might be eligible to participate, and recruitment is already open, Neuralink said in a post on X. BCIs have been studied in academia for decades, and competition within the industry has heated up in recent years. In addition to Neuralink, companies including Synchron , Paradromics and Precision Neuroscience are developing their own BCI systems. Several of these groups are carrying out human trials, but no BCI company has received approval from the U.S. Food and Drug Administration to commercialize their devices. Feel free to send any tips, suggestions, story ideas and data to Ashley at ashley.capoot@nbcuni.com .
Shai Gilgeous-Alexander, Thunder rout Grizzlies, run streak to 11Man City crisis continues as Feyenoord come from three down to draw
Whatever political allegiance you have, you have to hand it to the Sinn Féin leader for her textbook eyeroll – delivered as Harris distanced himself from the 2008 economic crash, saying Fine Gael “has helped picked this country above its knees on more than one occasion”. McDonald reacts by first glancing at the Fine Gael leader; then to the camera – making the viewer complicit in the eyeroll that follows. She turns nonchalantly to Harris’s Coalition partner Micheál Martin ; a barely suppressed smirk is the cherry a top – recordings of the clip have been widely shared online. “Political body language is a fascinating case of what can make or break a candidate,” says behavioural psychologist Prof Vlad Glaveanu, who reviewed key exchanges in Tuesday night’s debate. “Bodily communication in general presents us with a tension between spontaneous and controlled expression. It comes naturally to us and, when used effectively, it makes communication more vivid and makes the communicator seem more approachable. It is extremely important especially for getting one’s point across as it adds something that the use of language can’t always do – it raises emotions.” The debate saw regular face-offs between McDonald and Harris, notably when the Sinn Féin leader interrupted the Taoiseach by placing her hand on his arm. It was part of what Miriam Lord described in her sketch today as McDonald’s “talk-to-the-hand, traffic cop routine” in which Lord asked: “Imagine if one of them had done that [to the Sinn Féin leader]?” Harris’ response was to stare meaningfully at his arm and then at McDonald – the same expression of disbelief was frequently worn by the Fine Gael leader in response to the Sinn Féin leader’s arguments. Glaveanu, professor of psychology at Dublin City University, says: “We react, emotionally, with our bodies, and connect to the emotions of others by observing their bodily expression. These expressions, especially in the case of debating politicians, are scrutinised for more than their meaning, they are judged in terms of authenticity. “Too scripted or too rigid and they miss the mark, too loose and impulsive and they appear as out of control. And this is where politicians – particularly in debates – have the most difficult task of all when it comes to body language – they need to carefully monitor it while, at the same time, have it seem perfectly natural. “And there is yet another element to consider which is viewer empathy. If the dialogue triggers in viewers similar bodily reactions – like eye rolling, smirks, expressions of surprise or disgust, etc. – seeing them in politicians has a cathartic function and cements an emotional form of identification. But this is a double edge sword. If viewers find bodily reactions odd or inappropriate they are emotionally driven to distantiate themselves or even experience antipathy.” Fianna Fáil leader Micheál Martin kept the emotion turned down for most of the debate, becoming most animated when presenter Miriam O’Callaghan quizzed him about the prospect of a Coalition with Sinn Féin. In a rare moment of disagreement with Mr Harris, the Fianna Fáil leader took issue with Fine Gael’s lack of budgeting for additional health staff but the body language was more apologetic than attack-mode. “In the age of TikTok and memes, politicians are highly aware that their expressions will not only be seen but they can be seen by many, on a loop,” says Glaveanu. “Some might try to play the card of social media and offer slightly more exaggerated reactions because of this, others might overly control such expressions. Ultimately, the aim is to capture – with one’s body, not only one’s words – public mood. Is it one of revolt, disbelief, excitement, hope, more of the above? The right type of stare or the occasional eye roll can embody such collective emotions and give politicians an emotional capital that is priceless in politics and, above all, in elections.” Joe Humphreys is an Assistant News Editor at The Irish Times and writer of the Unthinkable philosophy column
ATLANTA (AP) — President Joe Biden's administration announced Tuesday that the U.S. Department of Energy will make a $6.6 billion loan to Rivian Automotive to build a factory in Georgia that had stalled as the startup electric vehicle maker struggled to become profitable. It's unclear whether the administration can complete the loan before Donald Trump becomes president again in less than two months, or whether the Trump administration might try to claw the money back. Trump previously vowed to end federal electric vehicle tax credits , which are worth up to $7,500 for new zero-emission vehicles and $4,000 for used ones. Rivian made a splash when it went public and began producing large electric R1 SUVs, pickup trucks and delivery vans at a former Mitsubishi factory in Normal, Illinois, in 2021. Months later, the California-based company announced it would build a second, larger, $5 billion plant about 40 miles (64 kilometers) east of Atlanta, near the town of Social Circle. The R1 vehicles cost $70,000 or more. The company plans to produce R2 vehicles, a smaller SUV, in Georgia with lower price tags aimed at a mass market. The first phase of Rivian’s Georgia factory is projected to make 200,000 vehicles a year, with a second phase capable of another 200,000 a year. Eventually, the plant is projected to employ 7,500 workers. But Rivian was unable to meet production and sales targets and rapidly burned through cash. In March, the company said it would pause construction of the Georgia plant. The company said it would begin assembling its R2 SUV in Illinois instead. CEO RJ Scaringe said the move would allow Rivian to start selling the R2 sooner and save $2.25 billion in capital spending. Since then, German automaker Volkswagen AG said in June it would invest $5 billion in Rivian in a joint venture in which Rivian would share software and electrical technology with Volkswagen. The money eased Rivian's cash crunch. Tuesday's announcement throws a lifeline to Rivian's grander plans. The company said its plans to make the R2 and the smaller R3 in Georgia are back on and that production will begin in 2028. “This loan would enable Rivian to more aggressively scale our U.S. manufacturing footprint for our competitively priced R2 and R3 vehicles that emphasize both capability and affordability,” Scaringe said in a statement. The Energy Department said the loan would substantially boost electric vehicles made in the United States and support Biden’s goal of having zero-emission vehicles make up half of all new U.S. sales by 2030. “As one of a few American EV startups with light duty vehicles already on the road, Rivian’s Georgia facility will allow the company to reach production volumes that make its products more cost competitive and accelerate access to international markets,” the department said in a statement. The loan includes $6 billion, plus $600 million in interest that will be rolled into the principal. The money would come from the Advanced Technology Vehicles Manufacturing Loan Program, which provides low-interest loans to make fuel-efficient vehicles and components. The program has focused mostly on loans to new battery factories for electric vehicles under Biden, but earlier helped finance initial production of the Tesla Model S and Nissan Leaf, two pioneering electric vehicles. The loan program, created in 2007, requires a "reasonable prospect of repayment" of the loan. Under Biden, the program has announced deals totaling $33.3 billion, including $9.2 billion for massive battery plants in Tennessee and Kentucky for Ford’s electric vehicles. Democratic U.S. Sen. Jon Ossoff , who has been a vocal supporter of electric vehicle and solar manufacturing in Georgia, hailed Tuesday's announcement as “yet another historic federal investment in Georgia electric vehicle manufacturing.” Ossoff had asked Energy Secretary Jennifer Granholm to support the loan in July. “Our federal manufacturing incentives are driving economic development across the state of Georgia,” Ossoff said in a statement. Georgia Gov. Brian Kemp says his goal is to make Georgia a center of the electric vehicle industry. But the Republican has had a strained relationship with the Biden administration over its industrial policy, even as some studies have found Georgia has netted more electric vehicle investment than any other state. Kemp has long claimed that manufacturers were picking Georgia before Biden's signature climate law, the Inflation Reduction Act, was passed. Efforts to bring Rivian to Georgia predated the Biden administration and "our shared vision to bring opportunity to Georgia will remain no matter who resides in the White House or what party controls Congress,” Kemp spokesperson Garrison Douglas said Tuesday. The loan to Rivian could rescue one of the Kemp administration's signature economic development projects even as Biden leaves office. That could put Rivian and Kemp in the position of defending the loan if Trump tries to quash it. State and local governments offered Rivian an incentive package worth an estimated $1.5 billion in 2022. Neighbors opposed to development of the Georgia site mounted legal challenges. State and local governments spent around $125 million to buy and prepare the nearly 2,000-acre (810-hectare) site. The state also has completed most of $50 million in roadwork that it pledged. The pause at Rivian contrasts with rapid construction at Hyundai Motor Group’s $7.6 billion electric vehicle and battery complex near Savannah. The Korean automaker said in October that it had begun production in Ellabell, where it plans to eventually employ 8,500. Associated Press writer Matthew Daly in Washington contributed to this story.
The ruling National Conference in Jammu and Kashmir has voiced its disappointment with the lieutenant governor's recent announcement about public holidays. Specifically, the party criticized the absence of days honoring the 1931 martyrs and Sheikh Mohammad Abdullah from the list. According to National Conference (NC) chief spokesman Tanvir Sadiq, this decision reflects a disregard for the historical and democratic struggles of Kashmir. This sentiment was shared in a post on X late Sunday night. Chief Minister Omar Abdullah had suggested earlier this month that the holidays, removed after the abrogation of Article 370, would eventually be restored. However, the newly released holiday list for 2025 from the LG administration does not include these significant days. (With inputs from agencies.)Cowboys star G Zack Martin doubtful to play vs. Commanders
Growing Up Amidst Wealth and Prominence, Luigi Mangione was a 'Bright Kid with a Bright Future'
Deputies investigating viral video of man allegedly filming inside dressing roomNagpur: Following the Mahayuti alliance 's unprecedented victory in the Maharashtra assembly elections , securing a commanding 235 of 288 seats, Vidarbha is the focal point of speculation over cabinet appointments. With the BJP, Shiv Sena (Shinde faction), and NCP (Ajit Pawar faction) sharing the spoils, leaders from Vidarbha are actively lobbying for ministerial roles. Fadnavis Set for CM, Other Big Names The top job appears destined for deputy chief minister Devendra Fadnavis , whose leadership was instrumental in the win. His administrative expertise and sway over Vidarbha make him the natural choice to succeed Eknath Shinde, who is likely to take a significant cabinet portfolio. Senior BJP leaders like Sudhir Mungantiwar, known for his work as forest minister, and Chandrashekhar Bawankule, who made a comeback with a resounding victory in Kamptee, are expected to play key roles. Bawankule is also expected to be guardian minister of Nagpur. From the Shiv Sena, former minister Sanjay Rathod, could return, but for the controversy over his alleged involvement in a TikTok star's death. NCP's Dharmaraobaba Atram, who served as Food and Drugs Administration (FDA) minister in the Shinde cabinet, is also likely to retain his position. Promising Contenders Vidarbha's BJP bastion has produced several young and dynamic leaders. Hingna MLA Sameer Meghe, with third consecutive win, is a strong contender for a cabinet berth. Four-time MLA Krishna Khopde, who won with a record margin of over one lakh votes, is also in the fray. In Bhandara, three-time MLA Narendra Bhondekar, who switched to the Shiv Sena before the elections, is also in the race. MLC Parinay Fuke, PWD and forest minister in Fadnavis's previous govt, is another hopeful. However, his MLC status from Bhandara could prove a hurdle. From Gondia, former social justice minister Rajkumar Badole, who defected to NCP (Ajit Pawar faction) to contest the elections, is being considered. BJP's Vinod Agrawal, a 2019 independent winner who joined the party before the elections, is also in contention. Veterans Eye Ministerial Roles Wardha's Sameer Kunawar, who retained his Hinganghat seat for the third time, is vying for a ministerial role. In Buldhana, either four-time MLA from Jalgaon (Jamod) Sanjay Kute, or seven-time winner from Malkapur Chainsukh Sancheti, may secure a cabinet berth. From Yavatmal, BJP's Ashok Wooike (Ralegaon MLA) and NCP's Indranil Naik (Pusad MLA), both three-time winners, are potential candidates for minister of state (MoS) positions. Amravati district also has strong contenders, including Ravi Rana of Yuva Swabhiman Paksha (Badnera MLA), BJP's Pratap Adsad (Dhamangaon Railway MLA), and Sulbha Khodke (Amravati City MLA). Balancing Aspirations and Realities As cabinet formation discussions intensify, the BJP-led Mahayuti faces the daunting task of balancing regional representation, political seniority, and alliance dynamics. Vidarbha, with its mix of veteran politicians and rising stars, is poised to play a pivotal role in the new govt.
Republicans rally around Hegseth, Trump’s Pentagon pick, as Gaetz withdraws for attorney general
King and PM honour former US president Jimmy Carter after his death aged 100UK Defence Intelligence has issued an update on the Russo-Ukrainian war, focusing on the large-scale Russian missile attack on Ukraine during the night of 12-13 December. Source : UK Defence Intelligence update dated 28 December on X (Twitter) , as reported by European Pravda Details : The update noted that Russia had used strategic and tactical aircraft and ballistic missile systems during the attack. In addition, UK intelligence reported that Russian Black Sea Fleet ships had launched Kalibr missiles while loitering munitions had been used from numerous launch sites. In total, Russia used about 90 missiles and 180 attack drones in the attack. Russian forces targeted Ukraine's critical infrastructure and also aimed to suppress Ukrainian air defences by saturating them with loitering munitions. Quote: "It is highly likely Russia has chosen to take time to build stocks between strikes and then launch in larger, less frequent strike waves, rather than the more frequent smaller attacks conducted earlier in the year," the update said. At the same time, UK intelligence stated that Russia retains the capability and stockpiles to use missiles and drones in smaller numbers "as a punitive measure, with little or no warning". Background : Support UP or become our patron !
Supermarket giant Woolworths has told customers it doesn’t expect any “immediate” impact on stock levels at its stores in two states, after a strike by warehouse workers. Up to 1500 unionised workers at three of the retailer’s distribution centres in Victoria and another in NSW walked off the job indefinitely on Thursday. The workers want better pay amid a cost of living crisis and an end to a performance framework the United Workers Union says pushes them to work faster in ways that risk safety. With Christmas just over a month away, the union warned the liquor, frozen and refrigerated goods shelves at Woolworth could run bare unless its conditions are met. But Woolworths, and its distributor Primary Connect, said there would be little impact. Employment Minister Murray Watt was asked about the strikes on Seven’s where he said these types of disputes weren’t unusual, and that he was confident the issue would be resolved. “I would encourage, obviously, the parties to keep trying to work it out,” Watt said. “It is in the interests of workers at Woolworths to come to an agreement about the wages, and it is in the interest of Woolworths to make sure operations keep going, not to mention the rest of us who want to keep shopping at Woolworths.” Up to 80,000 people of various visa categories could be potentially removed to third countries under the Albanese government’s plan to pay countries to accept its deported non-citizens, as legal experts criticise the bill. The Albanese government has not detailed which countries it has been in discussions with, in a bill that passed the House of Representatives and was examined in a Senate inquiry on Thursday. At the inquiry, several human rights and legal groups, including the Law Council of Australia, slammed the sweeping powers. “Detaining individuals pre-emptively [in Australia or overseas] to prevent them from committing future crimes must not become normalised in an otherwise free and liberal society,” council president Greg McIntyre told the Legal and Constitutional Affairs Legislation committee. The proposed amendments to the Migration Act seek to deport non-citizens, including not just those convicted of crimes, and to pay those third countries for their part in the removal regime. It would also grant extensive immunity to government officials and those in third countries involved with the removals as well as reversing protection findings for refugees. Greens senator David Shoebridge pushed Department of Home Affairs officials to clarify which categories of visa holders who were not citizens would be affected. They said that 4452 people on Bridging Visa E, 986 in immigration detention, 193 in community detention, 246 on Bridging Visa R from the NZYQ cohort, a further 96 individuals also on the same visa and potentially “a fluid cohort” of up to 75,400 people could be included. Earlier in the hearing, former Manus Island detainee and award-winning Kurdish-Iranian writer Behrouz Boochani said the proposed bill was draconian, citing his personal experience being detained in Papua New Guinea. He pleaded with the senators to vote down the bill: “What Australia has done is to banish refugees to be out of sight and out of mind.” Former treasurer Peter Costello has rounded on Treasurer Jim Chalmers’ plan to have the $230 billion Future Fund favour investment in housing, renewable energy and cybersecurity infrastructure, labelling it a “very bad” idea that would ultimately hurt taxpayers. Costello, who created the fund in 2006 and served as its chairman until this year, said the proposal – which the Coalition has vowed to overturn if it wins office – would reduce international respect for the fund. In an opinion piece in , Costello said Labor never raised the proposal with him during his decade as the chair of the fund’s board and that if they had, he “would not have agreed to it”. “A key reason why [the Future Fund] has done so well is because of its independence from government,” Costello wrote. Meanwhile, in comments given to former prime minister John Howard says the changes are “fiscal vandalism with a great dollop of hypocrisy”. But coming in to defend the government was another former treasurer, ALP president Wayne Swan, who questioned “how desperate” the Liberal Party is to “drag out” Howard and Costello. “The fact is, the government has not changed the mandated investment return at all. And that is the critical point,” Swan told Nine’s “I think Australians want their money invested in this country if they can get the required return. What’s wrong with saying that there are some national priorities? “This is just absurd political criticism in the lead-up to the next election. Nothing more, nothing less.” Popular social media platforms Tiktok, Snapchat and Instagram are among the sites that will have to ban children younger than 16, with reforms likely to pass parliament by the end of the fortnight. Federal Communications Minister Michelle Rowland introduced world-first legislation to the House of Representatives on Thursday, saying it would make the online environment safer for young people. TikTok, Facebook, Snapchat, Reddit, Instagram and X (formerly Twitter) will have to impose age limitations on users. But Messenger Kids, WhatsApp, Kids Helpline, Google Classroom and YouTube are expected to be classified as “out-of-scope services”. Prime Minister Anthony Albanese said the government wanted this “action to happen as soon as possible”, as the opposition confirmed it would work constructively to see the bill passed next week. Concerns with the speed at which the bill is slated to pass through the parliament have been raised, with only 24 hours allowed for submissions to a Senate enquiry initiated on Thursday. It will report its findings on Tuesday. Advocacy groups, including the Australian Human Rights Commission, have come out against the ban. The AHRC said it would likely have negative human rights impacts on young people: “If there are less restrictive options available to achieve the aim of protecting children from harm, they should be preferred over a blanket ban.” Companies that breach the minimum age obligation will face fines of up to $49.5 million. Under the draft laws, the onus will be on social media platforms to take reasonable steps to prevent children younger than 16 from having accounts. There will be a minimum lead-in period of 12 months before the ban is activated. Parents will not be able to give consent for their children to use social media, and users will not be required to hand over sensitive ID documents to platforms. Australia would be the first country to have an age ban on social media. Age verification trials are underway to determine how the ban will be enforced. The International Criminal Court issued arrest warrants on Thursday for Israeli Prime Minister Benjamin Netanyahu and his former defence chief, as well as a Hamas leader, Ibrahim Al-Masri, for alleged war crimes and crimes against humanity in the Gaza conflict. In their decision, the ICC judges said there were reasonable grounds to believe Netanyahu and Yoav Gallant were criminally responsible for acts including murder, persecution and starvation as a weapon of war as part of a “widespread and systematic attack against the civilian population of Gaza”. Good morning and welcome to the national news blog. As always, my name is Josefine Ganko, and I’m here to guide you through the news as it develops through the first half of the day. It’s Friday, November 22. There’s been plenty of international news overnight, so here’s what you might have missed.King and PM honour former US president Jimmy Carter after his death aged 100
VANCOUVER — The first commercial batch of made-in-Canada low-carbon aviation fuel sourced from non-food grade canola and tallow has been produced and quickly purchased. Fuel retailer Parkland Corp. said Tuesday it has successfully produced about 100,000 litres of the fuel at its refinery in Burnaby, B.C. "using existing infrastructure." Parkland senior vice-president Ferio Pugliese said it means production can easily be scaled up, but only if Canada provides the necessary conditions to create an ecosystem around the nascent commodity and its adoption across the country. "We need to do more to make low-carbon air travel a reality," Pugliese said during the announcement in Vancouver on Tuesday. "We need a long-term Canadian solution for low-carbon, sustainable aviation fuel." While the potential for emission reduction is massive production in Canada is also significantly more expensive, Pugliese said. He notes that similar low-carbon fuels used in vehicles, buses and ferries have about one-eighth of the carbon content when compared to traditional fuels. Pugliese said other countries such as the United States incentivize production and use of low-carbon jet fuel, creating the necessary ecosystem to support a local industry. "Currently, the Canadian aviation industry purchases low-carbon aviation (fuel) from other countries and imports it from across the globe into Canada. That makes little sense." Parkland began trying to develop the fuel in 2017, and the entire batch of the first production run has already been bought by Air Canada. Pugliese said the purchase of the fuel by Air Canada completes a value chain within the country that shows local development, production, sale and use of low-carbon jet fuel can be achieved to the benefit of everyone — but only if the support from government is there. "Airlines need very practical solutions, and today, right here in B.C., Parkland has created a made-in-Canada solution to a global challenge," he said. The comments echoed that of WestJet CEO Alexis von Hoensbroech, who in 2023 said the global push for decarbonizing commercial aviation by 2050 will cause spikes in airfares unless governments intervene. Part of the challenge, von Hoensbroech said, is that alternative energy sources such as electric or hydrogen aircraft remains a long way from reality, making the sector difficult to decarbonize. In February, a pair of industry groups, including the National Airlines Council of Canada, said the country needed incentives matching that of the United States to spark production of sustainable aviation fuels. Commercial aviation giant Airbus has said that low-carbon jet fuel can reduce carbon-dioxide emissions by about 80 per cent, and development is ongoing for planes to be able to run completely on it instead of needing to mix it with conventional fuels. But Airbus also said the ecosystem for the fuel is still "in its infancy," with just 600 million litres produced last year, making up 0.2 per cent of all aviation fuel for 2023. "Appropriate regulatory mechanisms and inventive structures still need to be put in place, and even then, there are challenges associated with the limited availability of land and biowaste," Airbus said of the technology on its website. Airbus has said it is increasing its own use of low-carbon fuels with a goal of reaching 30 per cent of its total fuel mix by 2030. This report by The Canadian Press was first published Dec. 10, 2024. Chuck Chiang, The Canadian Press
Shoppers bemused as Easter eggs hit shop shelves before New Year’s EveUnlock the Secrets of Future Millionaire Makers in TechPublished 8:58 pm Sunday, December 29, 2024 By Data Skrive Ranked teams are on Monday’s college basketball schedule for one game, the Alcorn State Braves squaring off against the Ole Miss Rebels. Watch women’s college basketball, other live sports and more on Fubo. What is Fubo? Fubo is a streaming service that gives you access to your favorite live sports and shows on demand. Use our link to sign up. Get the latest news sent to your inbox Catch tons of live women’s college basketball , plus original programming, with ESPN+ or the Disney Bundle.
NEW YORK (AP) — U.S. stock indexes drifted lower Tuesday in the runup to the highlight of the week for the market, the latest update on inflation that’s coming on Wednesday. The S&P 500 dipped 0.3%, a day after pulling back from its latest all-time high . They’re the first back-to-back losses for the index in nearly a month, as momentum slows following a big rally that has it on track for one of its best years of the millennium . The Dow Jones Industrial Average fell 154 points, or 0.3%, and the Nasdaq composite slipped 0.3%. Tech titan Oracle dragged on the market and sank 6.7% after reporting growth for the latest quarter that fell just short of analysts’ expectations. It was one of the heaviest weights on the S&P 500, even though CEO Safra Catz said the company saw record demand related to artificial-intelligence technology for its cloud infrastructure business, which trains generative AI models. AI has been a big source of growth that’s helped many companies’ stock prices skyrocket. Oracle’s stock had already leaped more than 80% for the year coming into Tuesday, which raised the bar of expectations for its profit report. In the bond market, Treasury yields ticked higher ahead of Wednesday’s report on the inflation that U.S. consumers are feeling. Economists expect it to show similar increases as the month before. Wednesday’s update and a report on Thursday about inflation at the wholesale level will be the final big pieces of data the Federal Reserve will get before its meeting next week, where many investors expect the year’s third cut to interest rates . The Fed has been easing its main interest rate from a two-decade high since September to take pressure off the slowing jobs market, after bringing inflation nearly down to its 2% target. Lower rates would help give support to the economy, but they could also provide more fuel for inflation. Expectations for a series of cuts through next year have been a big reason the S&P 500 has set so many records this year. Trading in the options market suggests traders aren’t expecting a very big move for U.S. stocks following Wednesday’s report, according to strategists at Barclays. But a reading far off expectations in either direction could quickly change that. The yield on the 10-year Treasury rose to 4.22% from 4.20% late Monday. Even though the Fed has been cutting its main interest rate, mortgage rates have been more stubborn to stay high and have been volatile since the autumn. That has hampered the housing industry, and homebuilder Toll Brothers’ stock fell 6.9% even though it delivered profit and revenue for the latest quarter that topped analysts’ expectations. CEO Douglas Yearley Jr. said the luxury builder has been seeing strong demand since the start of its fiscal year six weeks ago, an encouraging signal as it approaches the beginning of the spring selling season in mid-January. Elsewhere on Wall Street, Alaska Air Group soared 13.2% after raising its forecast for profit in the current quarter. The airline said demand for flying around the holidays has been stronger than expected. It also approved a plan to buy back up to $1 billion of its stock, along with new service from Seattle to Tokyo and Seoul . Boeing climbed 4.5% after saying it’s resuming production of its bestselling plane , the 737 Max, for the first time since 33,000 workers began a seven-week strike that ended in early November. Vail Resorts rose 2.5% after the ski resort operator reported a smaller first-quarter loss than analysts expected in what is traditionally its worst quarter. All told, the S&P 500 fell 17.94 points to 6,034.91. The Dow dipped 154.10 to 44,247.83, and the Nasdaq composite slipped 49.45 to 19,687.24. In stock markets abroad, indexes were mixed in China after the world’s second-largest economy said its exports rose by less than expected in November. Stocks rose 0.6% in Shanghai but fell 0.5% in Hong Kong. Indexes fell across much of Europe ahead of a meeting this week by the European Central Bank, where the widespread expectation is for another cut in interest rates. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
