Sunday, March 15

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NZ chips in $10m from existing funds to pay for climate losses
World News

NZ chips in $10m from existing funds to pay for climate losses

Climate Change Minister Simon Watts is attending the COP29 climate summit in Azerbaijan. Photo: RNZ / Samuel Rillstone New Zealand has chipped in $10 million to a global fund to help pay for losses suffered by poorer countries because of climate change. Climate Change Minister Simon Watts made the announcement at the COP29 climate summit in Baku, Azerbaijan on Wednesday. The loss and damage fund was set up at last year's meeting in UAE, to help developing countries that are particularly vulnerable to climate change. In a statement, the minister said it was a high priority for the government to address damage that went "beyond the limits of adaptation", including from extreme weather events and sea level rise. "We want this global fund to deliver effective support to the people in the mo...
Jimmy Lai testifies in Hong Kong trial that could see him jailed for life | World News
Business

Jimmy Lai testifies in Hong Kong trial that could see him jailed for life | World News

One of the main faces of Hong Kong's pro-Democracy scene, British citizen and media tycoon Jimmy Lai, has started testifying in court.It is the first time he has spoken in court in a case that has been delayed for years. Lai, 77, has been charged under Hong Kong's national security law with two counts of conspiracy to commit foreign collusion and one count of publishing seditious material.He is accused of asking the US and other foreign countries to impose sanctions on Hong Kong and mainland China. Lai has denied all charges.The publisher's testimony began with an explanation about why he started the Apple Daily newspaper in the city. He said the publication represented the "core values" of Hong Kong.Read more:Son of Jimmy Lai calls for 'urgent' UK interventionCalls for Starmer to condemn ...
HMNZS Manawanui: Salvage companies ready for fuel removal phase
World News

HMNZS Manawanui: Salvage companies ready for fuel removal phase

Navy Commodore Andrew Brown is in charge of the operation. Photo: RNZ/ Susana Lei'ataua The Navy is confident a robust plan is in place to handle any leaks as the operation to remove fuel from the HMNZS Manawanui begins. Two New Zealand salvage companies are preparing to remove fuel and other pollutants from the vessel that is 30 metres under water after sinking off the coast of Samoa in October. The ship went down after hitting a reef in a marine reserve off the island of Upolu. Seventy-five crew and passengers were rescued after being forced to abandon ship. HMNZS Manawanui shortly before it sank in October. Photo: Supplied / Profile Boats Manawanui has nearly 1000 tonnes of automotive gas oil that has diesel-like qualities on board. Officials estimate up to 200,000 litres of f...
Geopolitics are finally starting to play a role in stock market action
Business

Geopolitics are finally starting to play a role in stock market action

There's an old Wall Street phrase, "news follows the tape." It means that stock price movements often occur before news is widely known. That's been happening to stocks. The S & P 500 has been drifting lower for a week. It's been drifting lower on valuation concerns, concerns on potentially fewer rate cuts, stickier bond yields, and concerns about President-elect Donald Trump's tariffs and potential appointments. Now, with geopolitical issues around Russia/Ukraine , there is another log on the fire. This definitely puts the nuclear threat squarely on the table. Geopolitics has finally inserted itself into the market. So why are stocks, particularly cyclical sectors like industrials, rallying mid-morning? Bulls seem to want to believe this most recent Russian threat will lead to a deal ...
Prosecutors oppose dismissing Trump’s hush money case
World News

Prosecutors oppose dismissing Trump’s hush money case

By Luc Cohen for Reuters Republican presidential nominee, former US President Donald Trump arrives to speak during an election night event at the Palm Beach Convention Center on 6 November 2024 in West Palm Beach, Florida. Photo: CHIP SOMODEVILLA / Getty Images via AFP Prosecutors request schedule to litigate Trump's case dismissal Trump's lawyers say case would impede ability to govern Trump faced additional state and federal charges in 2023 Trump spokesperson: 'a total and definitive victory' for Trump Prosecutors who secured Donald Trump's conviction over a hush money payment to a porn star opposed on Tuesday his stated hope to have the case dismissed now that he is president-elect and asked a judge to set a schedule to litigate the matter. Trump, 78, had been scheduled to be se...
Trump attends SpaceX launch with Elon Musk
Business

Trump attends SpaceX launch with Elon Musk

U.S. President-elect Donald Trump walks with Elon Musk before attending a viewing of the launch of the sixth test flight of the SpaceX Starship rocket, in Brownsville, Texas, U.S., November 19, 2024. Brandon Bell | Via ReutersPresident-elect Donald Trump attended Tuesday's launch of the SpaceX rocket Starship with company CEO Elon Musk."I'm heading to the Great State of Texas to watch the launch of the largest object ever to be elevated," Trump wrote on Truth Social, wishing Musk luck along with all the "great patriots" involved in the launch ahead of the event.Trump's presence at the SpaceX facility underscores his increasingly close relationship with the mega-billionaire Musk, whose political action committee heavily backed the Republican in the recent election.Trump has tapped Musk to c...
Leftover QI facts spawn hit podcast No Such Thing As A Fish
World News

Leftover QI facts spawn hit podcast No Such Thing As A Fish

Photo: no such thing as fish Ten years ago, four self-described dorks gathered around a microphone to share interesting facts that they had learnt that week. They started as Stephen Fry's elves, digging up facts for his show QI and found they had plenty of tidbits leftover such as the origin of hedges, or wombat poo, or how many times smartphone users touch their phones each day - answer 2617. These tasty leftovers became a hit podcast No Such Thing As A Fish which has notched up more than 500 episodes, half a billion downloads and spawned a sold-out world tour that is currently in New Zealand. Podcasting fact fans Dan Schreiber and Anna Ptaszynski told RNZ's Afternoons, the "secret sauce" of the show is uncovering the kind of facts we love to share at the pub. "Everyone loves it at the...
A double supply chain whammy is coming for U.S. economy in early 2025
Business

A double supply chain whammy is coming for U.S. economy in early 2025

The Garden City Port Terminal in Savannah, Georgia.Sean Rayford | Getty ImagesUncertainty among U.S. shippers is escalating into 2025 with the expectation of new Trump tariffs and the possibility of a new ports strike that could begin in mid-January. Supply chain and logistics executives tell CNBC that shippers are now trying to game out the snafus that could be coming in the global supply chain and how much inventory to order against a consumer backdrop that remains strong, but subject to macroeconomic risks, and an early start to Lunar New Year, a holiday period in Asia during which manufacturing operations halt for as long as a month.In an advisory to clients, Honour Lane Shipping said it did not expect a volume spike in November because it took two to three weeks for production cycles ...
Government designates Hezbollah as terrorist entity
World News

Government designates Hezbollah as terrorist entity

Prime Minister Christopher Luxon and Attorney-General Judith Collins made the assessment. Photo: RNZ New Zealand has designated the Iran-backed armed and political group Hezbollah as a terrorist entity. Israel has been waging war on Hezbollah in its base in Lebanon for weeks, in an extension of the war in Gaza. Read more: What is Hezbollah, the Lebanese group trading fire with Israel? The government has also slapped a similar designation on the Houthi movement known as Ansar Allah. The Houthis in Yemen have been attacking shipping in support of Palestinians in Gaza. Prime Minister Christopher Luxon and the Attorney-General Judith Collins made the assessment. "For any organisation [to be designated] ... we have to have evidence and we go through a number of tests under our legislation, t...
Qualcomm says it expects $4 billion in PC chip sales by 2029
Business

Qualcomm says it expects $4 billion in PC chip sales by 2029

Qualcomm CEO Cristiano Amon speaks at the Computex forum in Taipei, Taiwan, June 3, 2024.Ann Wang | ReutersQualcomm said on Tuesday that it expects its push into new markets to generate an additional $22 billion per year by 2029.Of that amount, roughly $4 billion will come from PC chips, Qualcomm said at its investor day on Tuesday. The chipmaker just introduced PC processors earlier this year, when it released Snapdragon X for Windows devices.The latest forecast marks an important milestone for Qualcomm CEO Cristiano Amon, who took over the company in 2021 with a promise to get past a reliance on smartphones. In fiscal 2024, Qualcomm's handset business reported $24.86 billion in sales, about 75% of its entire chip business.Qualcomm also said on Tuesday that automotive revenues would rise ...