Sucking Carbon From Air, Swiss Firm Wins New Funds for Climate Fix

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A small Swiss company won $31 million in new investment on Tuesday to suck carbon dioxide from thin air as part of a fledgling, costly technology that may gain wider acceptance from governments in 2018 as a way to slow climate change. Climeworks AG, which uses high-tech filters and fans to extract carbon dioxide from the atmosphere at a cost of about $600 a ton, raised the money from investors including Zurich Cantonal Bank. "It's all about cost reductions," Jan Wurzbacher, a co-founder and co-CEO of Climeworks, told Reuters of how the company would use the funds. Extracting vast amounts of carbon dioxide from the atmosphere could help to limit global warming, blamed for causing more heatwaves, wildfires, floods and rising sea levels. The company says it has a long-term…


US Congress Skeptical of Trump’s Mexico Trade Deal

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President Donald Trump's trade deal with Mexico could struggle to win approval from Congress unless Canada comes on board, lawmakers from both parties said on Tuesday, saying support from Democrats would be needed to pass a purely bilateral deal. Trump unveiled the Mexico deal on Monday and threatened to slap tariffs on Canadian-made cars if Canada did not join the revamp of the trilateral North American Free Trade Agreement (NAFTA), which Trump has long criticized. If Trump, a Republican, tries to get the Senate to vote in favor of a bilateral deal as a replacement for NAFTA, he will face an uphill struggle to win passage, lawmakers said. Some lawmakers said only a trilateral pact would be eligible for fast-track, 51-vote Senate approval. A bilateral deal, on the other hand,…


Trump Expands Google Criticism to Include Facebook, Twitter

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U.S. President Donald Trump said Tuesday that Google, Twitter and Facebook were "treading on very, very troubled territory" and warned them to "be careful." Trump made the comments just hours after igniting controversy with a series of early-morning tweets claiming Google search results are "rigged" to turn up news unfavorable to the president's administration. The president asserted that people were complaining about biased results from social media searches. "We have literally thousands and thousands of complaints coming in," the president said. "You just can't do that." In response to a reporter's question in the Oval Office, Trump singled out Google, Facebook and Twitter for criticism and said, "You can't do that to people."  "Google is really taking advantage of a lot of people," the president said. "They better be careful." Google…


Iraq Sending Team to US to Seek Deal on Transactions with Iran

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Iraq will send a delegation to the United States seeking an agreement on financial transactions with Iran following Washington's reimposition of sanctions on Tehran, Prime Minister Haider al-Abadi said Tuesday. His statement was the first by an Iraqi official since Reuters reported last week that Baghdad was going to ask Washington for exemptions from some of the sanctions because Iraq's economy is closely linked with neighboring Iran. "We have requests for the American side, we have presented them and a delegation will go to negotiate within that framework," Abadi told a weekly news conference. "We have presented a clear vision of what Iraq really needs. This includes Iranian [natural] gas, which is very important, as well as other trade and the electricity sector." U.S. President Donald Trump withdrew the United…


Google, Indian Lenders Unite in Bid to Woo New Users

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Alphabet's Google said Tuesday that it was partnering with a handful of Indian banks to bring quick loans to the masses, as it aims to woo tens of millions of new internet users in the country to its digital payments services. At an annual Google event in New Delhi, Caesar Sengupta, vice president of Google's Next Billion Users initiative, said the move would make banking services accessible to tens of millions of Indians. Google launched payments app Tez, meaning fast in Hindi, in India last year, integrating it with the state-backed unified payments interface (UPI), as it sought to gain a foothold in the South Asian nation's digital payments space — which, according to Credit Suisse, will grow fivefold to $1 trillion by 2023. On Tuesday, Google rebranded the app as Google Pay and said it was partnering with four Indian…


Five Key Takeaways From Trump’s US-Mexico Trade Deal

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The United States and Mexico agreed on Monday to a sweeping trade deal that pressures Canada to accept new terms on autos trade, dispute settlement and agriculture to keep the trilateral North American Free Trade Agreement (NAFTA). U.S. Trade Representative Robert Lighthizer said the White House was ready to notify the U.S. Congress by Friday of President Donald Trump's intent to sign the bilateral document, but that it was open to Canada joining the pact. The 24-year-old NAFTA is a trilateral deal between the United States, Canada and Mexico that underpins $1.2 trillion in North American Trade. Here are some of the main issues at the heart of the negotiations: Autos Dominate The new deal requires 75 percent of the value of a vehicle to be produced in the United…


Mexico’s Next Leader: NAFTA Deal Preserves Energy ‘Sovereignty’

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Mexican president-elect Andres Manuel Lopez Obrador welcomed a deal between Mexico and the United States to overhaul the North American Free Trade Agreement (NAFTA) that he said preserved Mexican "sovereignty" in the energy sector. The U.S.-Mexico deal was announced by U.S. President Trump on Monday, putting pressure on Canada to agree to new terms and details that were only starting to emerge. Lopez Obrador said it was important that Canada be part of the deal. Lopez Obrador, who is scheduled to take office on Dec. 1, said Trump "understood our position" and accepted his incoming administration's proposals on the energy sector. The text of the new agreement has not yet been made public. "We put the emphasis on defending national sovereignty on the energy issue and it was achieved," Lopez…


Toyota to Invest $500 Million in Uber

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Toyota will invest half a billion dollars into ride-sharing giant Uber as part of a deal for the two companies to work together on developing self-driving vehicles.  Toyota, one of the world's largest car makers, is seen as lagging behind other companies, including General Motors and Google's Waymo, in the autonomous-vehicle race.  Uber has already begun testing self-driving vehicles, but was forced to remove hundreds of autonomous cars from the road in March after one of its test vehicles struck and killed a pedestrian on a street in Tempe, Arizona.  The deal between Uber and Toyota is an indication that Uber does not want to go it alone in creating the complex, autonomous driving systems.  Self-driving cars have always been important to Uber, which sees them as a way to…


Call Growing for Treaty to Ban Killer Robots

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The Campaign to Stop Killer Robots is urging the United Nations to begin talks on a legally binding treaty to ban the use and development of lethal autonomous weapons systems. Representatives from more than 70 countries are attending a weeklong meeting of the Convention on Conventional Weapons, or CCW, to recommend future work on this issue. The Campaign to Stop Killer Robots is a global coalition of 76 organizations in 32 countries. Members include Human Rights Watch, Amnesty International, Mines Action Canada and the Nobel Women's Initiative. It began in April 2013 to pre-emptively ban lethal autonomous weapons systems, better known as killer robots. Activists say momentum is building for states to negotiate a ban on the devices when the CCW holds its annual meeting in late November; however, the…


Ethiopia Ousts State Firm From Nile Dam Project

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Ethiopia has ousted state-run Metals and Engineering Corporation (METEC) from a $4 billion dam project on the River Nile due to numerous delays in completing the project. The Grand Renaissance Dam is the centerpiece of Ethiopia's bid to become Africa's biggest power exporter. Prime Minister Abiy Ahmed said at the weekend that the government had cancelled the contract of METEC, which is run by Ethiopia's military, and would award it to another company. Italian firm Salini Impregilo remains the main contractor building the dam, while METEC was the contractor for the electromechanical and hydraulic steel structure divisions of the project. The government has touted the 6,000-megawatt dam project, which is 60 percent finished, as a symbol of its economic reforms. "It is a project that was supposed to be completed…


Trade, Technology Rift may Have Economic and Political Impact on China

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The trade rift between the U.S. and China is taking on new dimensions with Washington scrutinizing the flow of technology to Chinese industries. Analysts said China might be in for both economic and political problems if the U.S. cuts off the supply of technologies that are essential for the survival of major Chinese companies. Such a move would affect the performance and industrial competitiveness of Chinese industry, said Scott Kennedy, Deputy Director of the Freeman Chair in China Studies at the Center for Strategic & International Studies. Beijing may be forced to overhaul its industrial policy to meet with the emerging situation. “It will put a lot of pressure on China to increase domestic consumption and domestic investments to replace the loss of opportunities with the United States and that…


Mexico Minister says in ‘Final Hours’ of Bilateral NAFTA Talks

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Mexico's Economy Minister Ildefonso Guajardo said on Sunday that bilateral negotiations with the United States about the North American Free Trade Agreement (NAFTA) were in the "final hours." Speaking as he arrived for talks at the U.S. Trade Representative's office, Guajardo said the negotiators would need at least a week to work with Canada, the third country in the trilateral trade pact, pushing any possible final deal into at least September. U.S. President Donald Trump said on Saturday that the United States could reach a "big Trade Agreement" with Mexico soon as incoming Mexican trade negotiators signaled possible solutions to energy rules and a contentious U.S. "sunset clause" demand.     ...


The Success Story Behind ‘John’s Crazy Socks’

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John Cronin has never been one to let disability hold him back. The 22-year-old from Long Island, N.Y., was born with Down syndrome, a genetic disorder that causes developmental and intellectual delays. Motivated by his family’s love and encouragement, Cronin teamed up with his father 18 months ago to open a business. But not just any business. John's Crazy Socks sells, you guessed it, socks. And as Faiza Elmasry reports, it's a business worth $4 million. Faith Lapidus narrates. ...


Russian Artist Builds Cameras out of Wood

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A Russian artist is going back to the roots of photography, rejecting the digital trappings and the assembly-line convenience of the modern age, by designing and creating wooden cameras the way they were built a hundred years ago. Combining craftsmanship with the principles of old school photography, some consider his creations art forms in themselves. And as VOA's Julie Taboh reports, his wooden cameras, and the unique photographs he takes with them, are attracting buyers from around the world. ...


Musk Says Investors Convinced Him Tesla Should Stay Public

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Tesla Inc. CEO Elon Musk says investors have convinced him that he shouldn't take the company private, so the firm will remain on the public stock markets. The eccentric and sometimes erratic CEO said in a statement late Friday that he made the decision based on feedback from shareholders, including institutional investors, who said they have internal rules limiting how much they can sink into a private company. Musk met with the electric car and solar panel company's board on Thursday to tell them he wanted to stay public and the board agreed, according to the statement. In an Aug. 7 post on Twitter, Musk wrote that he was considering taking the company private. He said it would avoid the short-term pressures of reporting quarterly results. ...


US Commerce’s Ross Picks ZTE Monitor After Rejecting ‘Never Trump’ Lawyer

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U.S. Commerce Secretary Wilbur Ross has appointed a former federal prosecutor to monitor China's ZTE Corp — after people familiar with the matter said he rescinded an offer to a former U.S. official for signing a "Never Trump" letter before the 2016 presidential election. A new monitor for ZTE is required as part of a June settlement that ended a ban on U.S. companies selling components to China's No. 2 telecommunications equipment maker. The ban threatened ZTE's survival and became a source of friction in trade talks between Washington and Beijing. Roscoe Howard, a former U.S. attorney in Washington, will lead a compliance team designed to help ensure that ZTE does not illegally sell products with American parts to Iran and other sanctioned countries. Howard, who got his law degree…


Fed Watchers Listen for Rate Hints in Powell Speech Friday

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Federal Reserve Chairman Jerome Powell will not lack for urgent topics to address when he gives the keynote speech Friday to an annual gathering of global central bankers in Jackson Hole, Wyoming. Fed watchers will be listening for anything Powell has to say about financial turmoil in emerging markets, the economic threats posed by the growing trade war launched by President Donald Trump, and Trump’s criticism of the Fed’s recent interest rate hikes. Investors will especially want to hear whether Powell addresses the central question of whether any of those developments might lead the Fed to alter its plan to raise interest rates two more times this year and to keep raising them next year as well. If Powell sounds confident that the economy won’t be unduly hurt by the…


Powell Signals More Hikes Ahead if US Economy Stays Strong

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Federal Reserve Chairman Jerome Powell signaled Friday that he expects the Fed to continue gradually raising interest rates if the U.S. economic expansion remains strong. Powell added that while annual inflation has risen to near the Fed's 2 percent target rate, it doesn't seem likely to accelerate above that point. That suggests that he doesn't foresee a need for the Fed to step up its rate hikes. Late next month, the Fed is widely expected to resume raising rates. Speaking to an annual conference of central bankers in Jackson Hole, Wyoming, Powell said the Fed recognizes that it needs to strike a careful balance between its mandates of maximizing employment and keeping price increases stable. He said a gradual approach is the best way for the Fed to navigate between…


Facebook Bans 2nd Quiz App on Concerns User Data Misused

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Facebook banned a quiz app from its platform for refusing an inspection and concerns that data on as many as 4 million users was misused.   The social media company said Wednesday that it took action against the myPersonality app after it found user information was shared with researchers and companies “with only limited protections in place.” Facebook said it would notify the app's users that their data was misused. It's only the second time Facebook has banned an app, after it blocked one linked to political data mining firm Cambridge Analytica that sparked a privacy scandal.   The company said myPersonality was “mainly active” prior to 2012, and it wasn't clear why Facebook was taking action now.   The app was created in 2007 by researcher David Stillwell and…


US, China Exchange New Round of Tariffs in Trade War

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A new set of tit-for-tat tariffs imposed by the United States and China on each other's goods took effect Thursday. The U.S. announced earlier this month that it would impose 25 percent tariffs on $16 billion worth of Chinese goods, on top of the 25-percent tariffs it imposed on $34 billion worth of Chinese products in early July. Beijing has followed suit in each case with an identical percentage of tariffs in retaliation. China's commerce ministry issued a statement Thursday criticizing the U.S. tariffs as a violation of World Trade Organization rules, and says it will file a legal challenge under the WTO's dispute resolution mechanism. The new round of tariffs took effect the day after delegations from both nations met in Washington for first of two days of talks…


Study: Many Teens – and Parents – Feel Tethered to Phones

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Parents lament their teenagers’ noses constantly in their phones, but they might want to take stock of their own screen time habits.  A study out Wednesday from the Pew Research Center found that two-thirds of parents are concerned about the amount of time their teenage children spend in front of screens, while more than a third expressed concern about their own screen time.  Meanwhile, more than half of teens said they often or sometimes find their parents or caregivers to be distracted when the teens are trying to have a conversation with them. The study calls teens’ relationship with their phones at times “hyperconnected” and notes that nearly three-fourths check messages or notifications as soon as they wake up. Parents do the same, but at a lower if still substantial…


After Summer’s Growth Revisions, Macron Has Budget Work Cut Out

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French President Emmanuel Macron will make the tough political choices needed to meet his deficit commitments, his government spokesman said, as he looked to put a bodyguard scandal behind him at his first Cabinet meeting after the summer break. Macron and his ministers in all likelihood need to find savings in next year's budget, to be presented to parliament next month, if they are to prevent the deficit from ballooning once again. The president faced his first crisis in the summer when video surfaced of bodyguard Alexandre Benalla beating a protester. Macron's own aloof response fanned public discontent. Now the 40-year-old leader returns to work facing difficult political choices as he embarks on a new wave of reforms to reform the pensions system, overhaul public healthcare and shake-up the highly…


EXCLUSIVE – Sources: Aramco Listing Plan Halted, Oil Giant Disbands Advisors

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Saudi Arabia has called off both the domestic and international stock listing of state oil giant Aramco, billed as the biggest such deal in history, four senior industry sources said on Wednesday. The financial advisors working on the proposed listing have been disbanded, as Saudi Arabia shifts its attention to a proposed acquisition of a "strategic stake" in local petrochemicals maker Saudi Basic Industries Corp., two of the sources said. "The decision to call off the IPO was taken some time ago, but no-one can disclose this, so statements are gradually going that way — first delay then calling off," a Saudi source familiar with IPO plans. Saudi Aramco did not immediately respond to an emailed request for comment. The Saudi Royal Court had no immediate comment. The proposed listing of…


Disney Offers Tuition for Hourly Workers in Tight Job Market

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Disney is offering to pay full tuition for hourly workers who want to earn a college degree or finish a high school diploma. The Walt Disney Co. said Wednesday it will pay upfront tuition to workers who want to take classes starting in the fall. Disney initially will invest $50 million into the "Disney Aspire" program and up to $25 million a year after that. Other large corporations have begun paying tuition for workers in a job market with low unemployment. In May, Walmart said it will offer workers the chance to get a college degree at three universities with online programs. Disney is rolling out its program in phases, with the first limited to online classes. It is being administered by Guild Education, the same firm operating Walmart's program.…


Study: Many Teens — and Parents — Feel Tethered to Phones

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Parents lament their teenagers' noses constantly in their phones, but they might benefit from taking stock of their own screen time habits. A new report from the Pew Research Center says two-thirds of parents are concerned about the amount of time their teenage children spend in front of screens. But more than half of teens said they often or sometimes find their parents or caregivers to be distracted by screens when trying to have a conversation with them. And more than a third expressed concern about their own screen time. The study surveyed 743 U.S. teens and 1,058 U.S. parents of teens from March 7 to April 10. The margin of error is 4.5 percentage points. ...


New Technology Aims to Prevent Newborn Deaths in Sub-Saharan Africa

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Around the world, 2.6 million newborns die within a month after they are born, according to the World Health Organization. A project called NEST360°, in the Rice 360° Institute for Global Health in Houston, is trying to reduce the number of preventable newborn deaths in sub-Saharan Africa. The key is to provide appropriate medical devices for hospitals in this region of the world. VOA’s Elizabeth Lee has the details. ...