Day: February 27, 2018

Likely Centrist Brazil Presidential Contender Says He Would Sell Petrobras

The governor of Sao Paulo and likely centrist presidential candidate Geraldo Alckmin said on Monday that he would privatize Brazil’s state-run oil company Petroleo Brasileiro SA if he wins the elections in October.

Alckmin, who has single digit support in opinion polls, said during a television interview with Band TV that he favored private ownership of Petrobras, as Brazil’s biggest company is known, as long as the sale was conducted within a strict regulatory framework.

Once a taboo issue in Brazilian politics because of national sovereignty concerns, the privatization of Petrobras is set to become a campaign issue this year as Brazil struggles to bring an unsustainable budget deficit under control.

Brazil’s left fiercely rejects the sale of Petrobras, but the leftist leader leading early opinion polls, former President Luiz Inacio Lula da Silva, will likely be barred from running because of a corruption conviction and there are no obvious politicians who can fill his shoes.

It is not clear where the far right candidate Jair Bolsonaro, who is currently second in opinion polls, stands on relinquishing state control of Petrobras.

But his economic policy advisor Paulo Guedes told Valor newspaper in an interview published on Monday that he favored selling all state companies to raise 700 billion reais that would help pay off one fifth of Brazil’s public debt.

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Ed Sheeran Named Best-selling Global Artist of 2017

British singer-songwriter Ed Sheeran was named the world’s best-selling artist of 2017 on Monday, thanks to his album “Divide” and singles “Shape of You” and “Perfect.”

The International Federation of the Phonographic Industry (IFPI) said that “Divide,” which was released in March 2017, went multi-platinum in 36 nations.

Sheeran’s pop ballad “Shape of You” was also the best-selling single globally of 2017 and has been certified as multi-platinum in 32 nations, the organization said.

The IFPI said it was the first time that a recording artist has had both the best-selling album and single of the year.

Sheeran, 27, first found success in England in 2009 and 2010 by self-releasing his music online.

“Ed is truly an incredible songwriter, vocalist and performer, whose ability to tell stories and make people feel is what stands him out from the crowd,”  Max Lousada, chief executive of recorded music for Sheeran’s Warner Music Group record label, said in a statement on Monday.

Sheeran, known for his ginger hair and shy demeanor, delighted fans last month by announcing his engagement to his childhood friend Cherry Seaborn, who he has known since he was 11 years old.

Canadian rapper Drake and his album “More Life” was named the second biggest seller globally for 2017 and the IFPI said Taylor Swift’s “Reputation” was third, despite being released only in November 2017.

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Trump Org. Donates Foreign Profits, But Won’t Say How Much

The Trump Organization said Monday it has made good on the president’s promise to donate profits from foreign government spending at its hotels to the U.S. Treasury, but neither the company nor the government disclosed the amount or how it was calculated.

 

Watchdog groups seized on the lack of detail as another example of the secrecy surrounding President Donald Trump’s pledges to separate his administration from his business empire.

 

“There is no independent oversight or accountability. We’re being asked to take their word for it,” said Noah Bookbinder, executive director of Citizens for Responsibility and Ethics in Washington. “Most importantly, even if they had given every dime they made from foreign governments to the Treasury, the taking of those payments would still be a problem under the Constitution.”

 

Trump Organization Executive Vice President and Chief Compliance Counsel George Sorial said in a statement to The Associated Press that the donation was made on Feb. 22 and includes profits from Jan. 20 through Dec. 31, 2017. The company declined to provide a sum or breakdown of the amounts by country.

 

Sorial said the profits were calculated using “our policy and the Uniform System of Accounts for the Lodging Industry” but did not elaborate. The U.S. Treasury did not respond to repeated requests for comment.

 

Watchdog group Public Citizen questioned the spirit of the pledge in a letter to the Trump Organization earlier this month since the methodology used for donations would seemingly not require any donation from unprofitable properties receiving foreign government revenue.

 

Robert Weissman, president of Public Citizen, said that the lack of disclosure was unsurprising given that the Trump’s family businesses have “a penchant for secrecy and a readiness to violate their promises.”

 

“Did they pay with Monopoly money? If the Trump Organization won’t say how much they paid, let alone how they calculated it at each property, why in the world should we believe they actually have delivered on their promise?” Weissman said.

 

Ethics experts had already found problems with the pledge Trump made at a news conference held days before his inauguration because it didn’t include all his properties, such as his resorts, and left it up to Trump to define “profit.” The pledge was supposedly made to ameliorate the worry that Trump was violating the Constitution’s emoluments clause, which bans the president’s acceptance of foreign gifts and money without Congress’ permission.

 

Several lawsuits have challenged Trump’s ties to his business ventures and his refusal to divest from them. The suits allege that foreign governments’ use of Trump’s hotels and other properties violates the emoluments clause.

 

Trump’s attorneys have challenged the premise that a hotel room is an “emolument” but announced the pledge to “do more than what the Constitution requires” by donating foreign profits at the news conference. Later, questions emerged about exactly what this would entail.

 

An eight-page pamphlet provided by the Trump Organization to the House Oversight Committee in May said that the company planned to send the Treasury only profits obviously tied to foreign governments, and not ask guests questions about the source of their money because that would “impede upon personal privacy and diminish the guest experience of our brand.”

 

“It’s bad that Trump won’t divest himself and establish a truly blind trust, and it’s worse that he won’t be transparent,” said Rep. Elijah Cummings, D-Maryland, ranking member on the House Oversight Committee. He called the Republicans refusal to do oversight, such as subpoena documents, that would shed light on Trump’s conflicts of interest “unconscionable.”

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‘Wacky’ Weather Makes Arctic Warmer Than Parts of Europe

A freak warming around the North Pole is sending a blast of Arctic cold over Europe in a sign of “wacky” weather that may happen more often with man-made global warming, scientists said on Monday.

On the northern tip of Greenland, the Cape Morris Jesup meteorological site has had a record-smashing 61 hours of temperatures above freezing so far in 2018, linked to a rare retreat of sea ice in the Arctic winter darkness.

“It’s never been this extreme,” said Ruth Mottram, a climate scientist at the Danish Meteorological Institute (DMI). Warmth was coming into the Arctic both up from the Atlantic and through the Bering Strait, driving and cold air south.

Around the entire Arctic region, temperatures are now about 20C (36°F) above normal, at minus eight degrees Celsius (17.6°F), according to DMI calculations.

To the south, a rare snow storm hit Rome on Monday and some Brussels mayors planned to detain homeless overnight if they refused shelter with temperatures set to fall as low as minus 10 Celsius (14 Fahrenheit) in the coming week.

Hit by easterly winds from Siberia, cities from Warsaw to Oslo were colder than minus 8C.

As long ago as 1973, a study suggested that an ice-free Arctic Ocean could make regions further south colder. That “warm Arctic, cold continent” (WAC#C) pattern is sometimes dubbed “wacc-y” or “wacky” among climate scientists.

“Wacky weather continues with scary strength and persistence,” tweeted Professor Lars Kaleschke, a professor at the University of Hamburg.

“The question is whether this weather will happen more often. This is just one event so it’s hard to make a causal relationship,” he told Reuters.

Sea ice shrinking 

Scientists say a long-term shrinking of sea ice on the Arctic Ocean, linked to global warming, exposes warmer water below that releases more heat into the atmosphere. That in turn may be disrupting the high altitude jet stream.

“The jet stream becomes wavier, meaning that colder air can penetrate further south and warmer air further north,” said Nalan Koc, research director of the Norwegian Polar Institute.

Arctic Ocean sea ice is at a record low for late February at 14.1 million square kilometres (5.4 million), according to the U.S. National Snow and Ice Data Center. That is about a million less than normal, or roughly the size of Egypt.

Erik Solheim, head of the U.N. Environment, said the rare weather fits a wider pattern driven by a build-up of greenhouse gases, mainly from burning fossil fuels from cars, factories and power plants.

“What we once considered to be anomalies are becoming the new normal. Our climate is changing right in front of our eyes, and we’ve only got a short amount of time to stop this from getting significantly worse,” he told Reuters.

Under the 2015 Paris climate agreement, almost 200 nations agreed to limit a rise in temperatures to “well below” 2 degrees Celsius (3.5 Fahrenheit) above preindustrial times, while pursuing efforts to limit it to 1.5C (2.7F).

Polar vortex

“The risk of an ice-free Arctic in summer is about 50 percent or higher” with warming of between 1.5 and 2.0 degrees, according to a leaked draft of a scientific report by a United Nations panel of scientists, obtained by Reuters.

The World Meteorological Organization said the chill in Europe was caused by a “Sudden Stratospheric Warming” above the North Pole that led to a split in the polar vortex, a cold area of air above the Arctic that spilled cold south.

A big problem in figuring out whether the Arctic warmth is driven by human activities or natural variations is a lack of measuring stations. There are no thermometers at the North Pole and satellite measurements go back only to the late 1970s.

On the Norwegian archipelago of Svalbard, temperatures were just above freezing, with rain, and about 13.4C (24F) above the long-term average on Sunday.

“There have also been recent winters with similar deviations,” said Rasmus Benestad, senior scientist at the Norwegian Meteorological Institute.

U.S. President Donald Trump, who plans to quit the Paris Agreement, has often expressed doubts about mainstream global warming science during cold spells, such as at New Year in the eastern United States.

And Mottram at DMI said Europe’s winters had become less severe. “It’s not actually that cold. Its just our perceptions have shifted from a normal winter.”

 

 

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