Economy
Evergrande domestic debt deal calms immediate contagion concern – Reuters
China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, soothing fears of imminent contagion from the debt-laden property developer.
Chart Talk: S&P 500 ETF SPY is on pace for worst monthly performance in a year – Seeking Alpha
The benchmark exchange traded fund SPDR S&P 500 Trust ETF (NYSEARCA:SPY) is on pace for its worst monthly performance in a year as the fund is down 3.99% for the month. SPY has not dipped this low since September 2020, where the ETF dropped 4.37%.
U.S. Treasury sanctions cryptocurrency exchange for alleged role in ransomware attacks – CNBC
The U.S. Treasury Department announced Tuesday it will sanction a cryptocurrency exchange for its alleged role in laundering ransoms for cyberattacks.
It marks the first such action against a virtual currency exchange and comes after a string of cyberattacks crippled several industries and even threatened U.S. government agencies. The Treasury said ransomware payments totaled more than $400 million in 2020 alone, more than four times that of 2019.
Environment
In climate pledge, Xi says China will not build new coal-fired power projects abroad – Reuters
Chinese leader Xi Jinping said on Tuesday that China would not build new coal-fired power projects abroad, using his address at the United Nations General Assembly to add to pledges to deal with climate change.
Why Biden’s pledge to double US climate funding is more political than practical – Quartz
President Joe Biden announced before the UN General Assembly on Sept. 21 that the US will double its financial commitment to help low-income countries tackle the climate crisis.
“We have to support the countries and people that will be hit the hardest and that have the fewest resources to help them adapt,” Biden said. The pledge will add to the $5.7 billion promised to developing countries by 2024. The proposed $11 billion in annual climate funding will now need to be approved by Congress.
Combatting an invisible killer: New WHO air pollution guidelines recommend sharply lower limits – The Conversation
A lot has changed in scientists’ understanding of these health risks in recent years. Air pollution levels that seem low are now linked to dangerous health outcomes such as low birth weight, respiratory problems, heart disease and Alzheimer’s disease.
That’s why the World Health Organization announced on Sept. 22, 2021, that it is tightening its recommended limits for almost every pollutant. The new global air quality guidelines reflect an overwhelming scientific consensus that countries need to more aggressively limit air pollution and protect everyone’s health.
Health
Low vaccine rates in Africa are a global security issue – Quartz
More than 4.5 billion doses of Covid-19 vaccines have been administered across the world so far. Less than 200 million have gone to low-income countries.
In rich countries, 44% of the population are fully vaccinated. Vulnerable individuals are about to get a third booster shot, and a majority of those who have yet to receive a vaccine have decided not to get one, despite having access to it. In poor countries, only 1% of the population received a single dose, and even fewer received both. This is dangerous for the whole world.
America’s kids will be even harder to vaccinate than its adults – Quartz
Pfizer and BioNTech have results for their Covid-19 vaccine trial on kids, and they are encouraging. The vaccine, administered in two smaller doses than the adult version at a 21-day interval, is safe and effective for children between five and 11 the companies said today (Sept. 20).
Pfizer has to submit the trial results to the Food and Drug Administration (FDA) to obtain authorization and start the inoculation of children. The process will begin at the end of September, and the go-ahead might come as soon as the end of October. Results for vaccine trials on children below five are expected soon, too, and the FDA authorization will follow a similar timeline as the one for kids five to 11.
The post Daily Digest 9/22 — Evergrande Domestic Debt Deal Calms Immediate Contagion Concern; Xi Says China Will Not Build New Coal-fired Power Projects Abroad… appeared first on Peak Prosperity.
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