Here’s what you need to know
The United States and the United Kingdom will ban Russian oil. Although the EU won’t join the sanctions, it has a plan to wean itself off of it all. American producers say it will be difficult to increase their oil production, but most Americans say they don’t mind paying more for gas.
Chinese companies could end up on the US trade blacklist. Those who violate sanctions to supply Russia with cutting-edge chips and technology risk being Cup of American hardware and software.
The IMF is preparing to give 1.4 billion dollars to Ukraine. While the monetary authority helps fight the economic crisisWestern nations are in a race to deliver weapons and equipment to repel the Russian invasion.
Russia bombed an evacuation route from Mariupol. Thousands more, including Indian students, were able leave Sumy. US intelligence officials have told Congress that Russian President Vladimir Putin is likely to intensify the attacks of his countrylike the EU prepares to welcome more refugees.
An EU court has upheld a multi-billion euro fine for the UK. The European Commission alleges that its former member did not collect sufficient customs duties on dumped imports.
These are unprecedented days for the oil industry. The United States banned Russian oil imports on Tuesday in response to the invasion of Ukraine, and Europe is also scrambling to find energy alternatives. Prices are through the roof. Non-Russian oil and gas companies are poised to make windfall profits as they make up the difference, and European policymakers are pushing for a much faster transition to renewables.
Meanwhile, oil and gas companies continue to fight many lawsuits alleging that they knew the harms of carbon emissions, but were still lobbying against climate policy. The latest to meet with a judge is ExxonMobil, which will present oral arguments to the Massachusetts Supreme Court on Wednesday in a lawsuit filed by the state’s attorney general. the combination alleges that Exxon has engaged in a disinformation campaign about climate change; the company says its statements are protected as free speech. A result may not be known for months; Exxon beat a similar case in New York in 2019, but is still fight others.
Durability is no longer optional
Energy companies aren’t the only ones being held to higher standards. Companies that fail to meet their sustainability goals (or don’t set them at all) run the risk of failing in their business.
A new index released Tuesday by the World Economic Forum emphasizes diversity and inclusion as an aspect of sustainability. Its findings suggest that investing in innovations that improve the way a company treats people and lessens the damage it causes to the environment is simply good business.
Our Next 10 Years series examined the near future of enterprise, which will almost certainly involve autonomous robots using artificial intelligence as key tools to change the world for the better. In fact, robots that automate recycling, run indoor farms, and help nurses on the front lines of healthcare are already here doing their jobs. Learn more about how industries marked by rapid change are preparing for tomorrow.
Sometimes it’s enough to dance
They tried to kill disco, but it will never die. The stubbornly optimistic genre emerged from an economically turbulent time, and in this current turbulent time, we could use some stubborn optimism.
What’s in a crisis that just makes us wanna dance?
🎧 Find out why disco deserves a second look with the latest episode of the Quartz Obsession podcast.
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A newly identified ancient species of squid has been named after US President Joe Biden. But some say it may not be a new species after all.
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King Tut’s meteorite dagger was not made in Egypt. He can have come from Anatolia.