Friday, May 10

ByKevin Sheekey

Climate of Hope: U.K. Sets Record of Life Without Coal as Clean Energy Takes Over (Bloomberg)
The U.K. went more than a week without using any of its coal-fired power stations, yet another record, and a sign that life without the dirtiest fossil fuel might not be that far away.

More Hope: U.K. Poised to Back Net Zero Greenhouse Gas Target for 2050 (Bloomberg)
The U.K.’s climate change goal would be most ambitious by major economy encouraging Britons to fly less, eat less meat, and use clean cars.

And even more hope: Trash Alternative Fuel Is Emerging Deep Inside U.S. Coal Country (Bloomberg)

But Keep in Mind: Climate-Action Delay May Cost More Than $1 Trillion Over Next 15 Years (Bloomberg)
Delays in tackling climate change could cost companies about $1.2 trillion worldwide during the next 15 years, according to a new United Nations report.

Investors are playing an increased role to protect financial stability against climate change, and research is enabling them to better understand climate-related risks and opportunities in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which is chaired by Mike Bloomberg.

Hot on the Bloomberg:
Whiplash: Trump Says No Rush for China Deal as Tariffs Rise, Talks Resume (Bloomberg)

Trade War Latest:
-The U.S. Needs China More Than You Think: Household Items Just Got Costlier — Again (Bloomberg)
-Trump Tariffs on China Likely to Cost 400,000 Manufacturing Jobs, U.S. Equipment Manufacturing Association Says (Bloomberg)

Kim Jong Un Latest: New North Korea Concerns Flare as Trump’s Signature Diplomacy Wilts (New York Times)

Tech Today:
-The VC Who Engineered the 2017 Uber CEO Coup Just Got Very Rich
(Bloomberg)
-Facebook Breakup Call From Co-Founder Easier Said Than Done, Anti-Trust Officials Say (Bloomberg)

Bloomberg Insider:

Bloomberg Wins 2019 Sell-Side Technology Award – Best Sell-Side Front-Office Platform (Waters Technology – subscription)
Bloomberg won the best sell-side front-office platform category at this year’s Sell-Side Technology Awards in London. Watch Bloomberg’s Phil McCabe discuss the solution that led to Bloomberg’s win here.

Transparency Today: Move to Quench Competition in Financial Identifiers Keeping Costs Higher for Financial Industry (WatersTechnology – subscription)
As Bloomberg works to provide open, free, and consistent financial identifiers, WatersTechnology exposes the political power plays at work inside the world of these financial standards. While nearly invisible to the average investor, these maneuvers restrict competition and limit efficiency, ultimately raising costs for financial firms worldwide.

Travel Section:

New Yorkers Not Shocked: Newark and JFK Rated Among Worst Airports in U.S. (Bloomberg)

Travel of Tomorrow: World’s Fastest Bullet Train Starts High-Speed Tests in Japan (Bloomberg)
Japan is pushing the limits of rail travel as it begins testing the fastest-ever bullet train, capable of speeds of as much as 400 kilometers (249 miles) per hour by using new wind resistance technology and braking systems. That’s 10kph faster than China’s Fuxing Hao that links Beijing and Shanghai.

And…Happy Mother’s Day to moms celebrating in the U.S. and in the many countries who mark the special day this weekend.


Best of late night.

On the recent United Nations climate change study that said more than a million plant and animal species are now at risk of extinction:

“Planet Earth, unfortunately, after seven billion seasons, is about to be canceled.”
— Trevor Noah

On U.S. Secretary of State Mike Pompeo’s response to the UN climate report, in which he praised the steady reductions in sea ice for “opening new passageways and new opportunities for trade”:

“Hoping for a disaster so you can make money off it isn’t a plan for climate change, it’s literally the plot of ‘The Producers.’”
— Seth Meyers

“The polar ice caps are melting, and you’re excited about new trade routes? That’s like being excited that your house burned down because now you can see your pool from the driveway.”
— Seth Meyers

And finally, Best Satire: Bill de Blasio PAC Spends $30 Million On Ads Urging Candidate Not To Embarrass Self By Running (The Onion)

For more Best of Late Night from the New York Times, click here.

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