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Rich countries subsidising oil, gas and coal companies by $88bn a year

2014-11-11 01:17:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: Rich countries are subsidising oil, gas and coal companies by about $88bn (55.4bn) a year to explore for new reserves, despite evidence that most fossil fuels must be left in the ground if the world is to avoid dangerous climate change. The most detailed breakdown yet of global fossil fuel subsidies has found that the US government provided companies with $5.2bn for fossil fuel exploration in 2013, Australia spent $3.5bn, Russia $2.4bn and the UK $1.2bn. Most of the support was in the form of tax...

Tags: year companies countries rich

SEOUL: Hyundai Motor chief drops out of rich list

2014-11-08 10:06:30| Automakers - Topix.net

Chung Mong-Koo, the chairman of Hyundai Motor Group, this year failed to make a list of the world's 200 richest people after spending heavily on a 80,000-square-metre site in Gangnam, Seoul, where he plans to build a global business control tower. According to the Bloomberg Billionaires Index, the head of South Korea's largest automaker, who has in the past ranked between 150th and 200th place, had dropped out of the list altogether.

Tags: list chief motor rich

Rich people are splurging on $1M homes again. Herea s why.

2014-11-07 23:21:46| Real Estate - Topix.net

This Washington, DC home, which was listed for $4.3 million, recently sold. For the first time in recent memory, lenders are offering well-heeled buyers large "jumbo" mortgages at the same - or even better - interest rates as smaller loans.

Tags: s people why homes

Climate change is hurting poor countries right now. Why won't rich countries act?

2014-11-05 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

New Republic: All politics is local, Tip ONeill, the legendary Capitol Hill pol, used to say. He wasnt talking about the politics of climate change, but he might as well have been. Powerful governments around the world have failed to act in a significant way to fight climate change, and its pretty clear why: Their constituents dont feel in any real sense that climate change is affecting them locally. This is the fundamental inconvenient truth that advocates of tougher climate action face, and its underscored...

Tags: change act poor countries