WHO declares global health emergency as deadly Ebola outbreak in the Congo spreads

The deadly Ebola outbreak in the Democratic Republic of the Congo has been declared a global emergency by the World Health Organization days after a case of the virus was confirmed in the Congolese city Goma, which borders neighboring country Rwanda. The WHO defines an international emergency as “an extraordinary event which is determined to constitute a public health risk to other states through the international spread of disease and to potentially require a coordinated international response.


The deadly Ebola outbreak in the Democratic Republic of the Congo has been declared a global emergency by the World Health Organization days after a case of the virus was confirmed in the Congolese city Goma, which borders neighboring country Rwanda. The WHO defines an international emergency as “an extraordinary event which is determined to constitute a public health risk to other states through the international spread of disease and to potentially require a coordinated international response.
WHO declares global health emergency as deadly Ebola outbreak in the Congo spreads Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: ashley turner
Keywords: news, cnbc, companies, spread, declares, work, world, spreads, virus, international, drc, emergency, ebola, global, deadly, congo, health, outbreak, tedros


WHO declares global health emergency as deadly Ebola outbreak in the Congo spreads

The deadly Ebola outbreak in the Democratic Republic of the Congo has been declared a global emergency by the World Health Organization days after a case of the virus was confirmed in the Congolese city Goma, which borders neighboring country Rwanda.

So far, more than 1,600 people have died and more than 2,500 have been diagnosed with the virus in the war-torn North Kivu and Ituri provinces of the DRC since the epidemic began in August.

“It is time for the world to take notice and redouble our efforts. We need to work together in solidarity with the DRC to end this outbreak and build a better health system,” WHO director-general Dr. Tedros Adhanom Ghebreyesus said in a statement Wednesday. “Extraordinary work has been done for almost a year under the most difficult circumstances. We all owe it to these responders — coming from not just WHO but also government, partners and communities — to shoulder more of the burden.”

This is the second-deadliest outbreak of Ebola since the West African epidemic that killed 11,310 and infected 28,616 people in Guinea, Sierra Leone and Liberia from 2014 to 2016.

The WHO defines an international emergency as “an extraordinary event which is determined to constitute a public health risk to other states through the international spread of disease and to potentially require a coordinated international response.”

Though there is high risk of the virus spreading regionally, the threat of it developing outside of the area is still low, Tedros said.

The WHO previously declined three times to declare the outbreak as an international health emergency, to the ire of many health experts who warned the virus had a potential to spread across borders. This is the fifth time in history that a global health emergency has been declared.

Responders have been using an experimental vaccine made by New Jersey-based Merck & Co in an attempt to quell the spread of the virus.

More than 140,000 people in the DRC have been immunized so far.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: ashley turner
Keywords: news, cnbc, companies, spread, declares, work, world, spreads, virus, international, drc, emergency, ebola, global, deadly, congo, health, outbreak, tedros


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This is what traveling on Elon Musk’s 700 mph Hyperloop could look like

It’s anyone’s guess how long it will take for Elon Musk’s Hyperloop dream of an ultra high-speed transit system to become reality. Since then, SpaceX, Musk’s aerospace company, built a test track near its Hawthorne, California headquarters. In 2017, Musk said he ran a test with a Tesla-branded Hyperloop pod that reached a top speed of 220 MPH. SpaceX launched its annual Hyperloop Pod Competition in 2015. Meanwhile, Amtrak president Richard Anderson said in 2017 that high-speed hyperloop pods rep


It’s anyone’s guess how long it will take for Elon Musk’s Hyperloop dream of an ultra high-speed transit system to become reality. Since then, SpaceX, Musk’s aerospace company, built a test track near its Hawthorne, California headquarters. In 2017, Musk said he ran a test with a Tesla-branded Hyperloop pod that reached a top speed of 220 MPH. SpaceX launched its annual Hyperloop Pod Competition in 2015. Meanwhile, Amtrak president Richard Anderson said in 2017 that high-speed hyperloop pods rep
This is what traveling on Elon Musk’s 700 mph Hyperloop could look like Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: tom huddleston jr
Keywords: news, cnbc, companies, look, pod, speed, musks, 700, world, spacex, traveling, elon, teams, highspeed, pods, mph, hyperloop, test


This is what traveling on Elon Musk's 700 mph Hyperloop could look like

A group from the Delft University of Technology in the Netherlands shared its vision for Hyperloop pods, called Atlas 02, and stations that could one day be used to transport passengers long distances at ultra high speeds, with a panoramic concept video showing what the passenger experience would look like.

It’s anyone’s guess how long it will take for Elon Musk’s Hyperloop dream of an ultra high-speed transit system to become reality. But with SpaceX’s annual Hyperloop Pod Competition taking place on Sunday — where teams from colleges and universities around the world compete with their prototypes of high-speed transportation pods — at least one group of designers is already offering a conceptual look at what the high-speed system could eventually look like.

…as well as the inside of an eventual Hyperloop pod, including stylish seats in a glass-topped pod complete with digital screens displaying the date and weather on what the team envisions would be a 30-minute ride between Amsterdam and Paris (a trip that currently takes over three hours via train).

The pods through move through tubes at hundreds of miles per hours.

Musk unveiled early plans for a multibillion-dollar Hyperloop concept in 2013, with a goal of significantly cutting travel time between major cities. For instance, Musk has said the project could eventually reduce the time for a train trip between San Francisco and Los Angeles from several hours to just 30 minutes. The concept involves sending self-propelled transportation pods through low-pressure vacuum tubes at speeds greater than 700 MPH.

Since then, SpaceX, Musk’s aerospace company, built a test track near its Hawthorne, California headquarters. In 2017, Musk said he ran a test with a Tesla-branded Hyperloop pod that reached a top speed of 220 MPH.

SpaceX has also looked for an open source solution to Musk’s Hyperloop dream, with the company inviting teams of designers and engineers from around the world to submit their ideas for prototypes of the high-speed transportation pods that would one day make a Hyperloop system possible. SpaceX launched its annual Hyperloop Pod Competition in 2015.

The Delft Hyperloop’s team of 40 students worked to design a self-propelled pod that will compete against 20 other college teams from around the world on Sunday with prototype test runs on the SpaceX track, which is roughly one mile long. The Delft Hyperloop team’s goal is to eventually reach a top speed of 1,000 kilometer-per-hour (or, roughly, 620 MPH), though the team that won last year’s SpaceX Hyperloop Pod Competition, from the Technical University of Munich, did so after reaching a top speed of about 290 MPH.

Elon Musk is not the only billionaire working to develop hyperloop technology, as Richard Branson’s Virgin Group partnered with Hyperloop One in 2017 with the goal of opening the first hyperloop to passengers by the “mid-2020s”, the company said in 2018. Virgin Hyperloop One even reportedly reached a top speed of 240 MPH in a 2018 test run.

Meanwhile, Amtrak president Richard Anderson said in 2017 that high-speed hyperloop pods replacing traditional train travel is unlikely to happen anytime soon. “I don’t think it’s realistic right now,” he told CNBC.

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Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: tom huddleston jr
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We cannot accept Facebook’s Libra project without strict rules, France’s finance minister says

Facebook’s Libra project cannot be accepted without a strong set of rules, France’s Finance Minister Bruno Le Maire told CNBC Wednesday. Facebook’s latest plan for a cryptocurrency — Libra — has been heavily criticized by policymakers around the world, including U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. Speaking to CNBC ahead of a meeting of finance ministers from the seven largest world economies, Le Maire said that Libra raises questions about money lau


Facebook’s Libra project cannot be accepted without a strong set of rules, France’s Finance Minister Bruno Le Maire told CNBC Wednesday. Facebook’s latest plan for a cryptocurrency — Libra — has been heavily criticized by policymakers around the world, including U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. Speaking to CNBC ahead of a meeting of finance ministers from the seven largest world economies, Le Maire said that Libra raises questions about money lau
We cannot accept Facebook’s Libra project without strict rules, France’s finance minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: silvia amaro
Keywords: news, cnbc, companies, states, facebooks, world, strong, told, le, accept, rules, libra, kind, finance, minister, project, frances, maire, strict


We cannot accept Facebook's Libra project without strict rules, France's finance minister says

Facebook’s Libra project cannot be accepted without a strong set of rules, France’s Finance Minister Bruno Le Maire told CNBC Wednesday.

Facebook’s latest plan for a cryptocurrency — Libra — has been heavily criticized by policymakers around the world, including U.S. Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell. Speaking to CNBC ahead of a meeting of finance ministers from the seven largest world economies, Le Maire said that Libra raises questions about money laundering and terrorism financing.

“I would say this is first of all a question of sovereignty. You have states, the United States, France, Germany, Italy — all sovereign states with sovereign currencies: dollar, euro and so on and they are sticking to some very strong commitments, some very strong rules. We cannot accept a new currency having the exact same kind of power, without the same kind of rules, without the same kind of commitments and without the same kind of obligations,” Bruno Le Maire told CNBC’s Steve Sedgwick in Chantilly, France.

“There is also a concern about money laundering, there’s a concern about the funding of terrorism,” Le Maire also said.

“How could we accept to have now a new currency which wouldn’t stick to the same kind of obligation(s),” he added.

In an attempt to address some of the ongoing concerns over its cryptocurrency plan, Facebook said on Tuesday that Switzerland’s data protection agency will oversee data and privacy protections. However, CNBC reported later on Tuesday that Facebook hadn’t actually reached out to the Swiss regulator on this issue.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: silvia amaro
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Facebook’s crypto chief warns of national security risks if the US fails to innovate in financial services

U.S. national security efforts will fall behind without innovation in financial services, the head of Facebook’s new cryptocurrency subsidiary said at a hearing about the company’s plans for a new digital currency. Cotton said Iran, on which the U.S. has imposed sanctions, has been working on developing its own cryptocurrency. “And the same way that we will end up having two internets and two different infrastructures, we will have two different financial systems and two different financial netw


U.S. national security efforts will fall behind without innovation in financial services, the head of Facebook’s new cryptocurrency subsidiary said at a hearing about the company’s plans for a new digital currency. Cotton said Iran, on which the U.S. has imposed sanctions, has been working on developing its own cryptocurrency. “And the same way that we will end up having two internets and two different infrastructures, we will have two different financial systems and two different financial netw
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Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
Keywords: news, cnbc, companies, crypto, facebooks, sanctions, marcus, world, national, way, subsidiary, services, warns, different, fails, going, financial, security, innovate, risks


Facebook's crypto chief warns of national security risks if the US fails to innovate in financial services

U.S. national security efforts will fall behind without innovation in financial services, the head of Facebook’s new cryptocurrency subsidiary said at a hearing about the company’s plans for a new digital currency.

David Marcus, who heads Facebook’s Calibra subsidiary, responded to a question from Arkansas Sen. Tom Cotton about how the new currency would impact the U.S.’s ability to impose effective sanctions. Cotton said Iran, on which the U.S. has imposed sanctions, has been working on developing its own cryptocurrency.

“I’m glad you brought this up because I believe that if we don’t lead in the space, others will,” Marcus said. “And the same way that we will end up having two internets and two different infrastructures, we will have two different financial systems and two different financial networks. And one will be out of reach of sanctions that are so effective in enforcing our foreign policy and preserving our national security.”

Marcus could be referring to the fragmentation of the online world between countries like the U.S. where citizens can freely browse and those like China where certain search results and websites are censored by the government. He said if the U.S. fails to get ahead of fragmentation in financial services, national security could be at risk.

“I actually believe that if we stay put, we are going to be in a situation in ten, 15 years where we’re really going to have half of the world that is going to operate on, by the way a blockchain-based technology, that will be out of reach from our national security apparatus,” Marcus said.

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Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
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Sen. Sherrod Brown slams Facebook’s crypto plans: ‘It doesn’t deserve our trust’

Sen. Sherrod Brown came out swinging at Facebook on Tuesday to kick off the Senate Banking Committee hearing on the company’s new cryptocurrency project, Libra. “Facebook is dangerous,” the Ohio Democrat and ranking committee member began his opening statement. Brown repeatedly referenced what he called Facebook’s “competing missions” to make the world more connected and to make money for themselves. “Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. It s


Sen. Sherrod Brown came out swinging at Facebook on Tuesday to kick off the Senate Banking Committee hearing on the company’s new cryptocurrency project, Libra. “Facebook is dangerous,” the Ohio Democrat and ranking committee member began his opening statement. Brown repeatedly referenced what he called Facebook’s “competing missions” to make the world more connected and to make money for themselves. “Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. It s
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Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
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Sen. Sherrod Brown slams Facebook's crypto plans: 'It doesn't deserve our trust'

Sen. Sherrod Brown came out swinging at Facebook on Tuesday to kick off the Senate Banking Committee hearing on the company’s new cryptocurrency project, Libra.

“Facebook is dangerous,” the Ohio Democrat and ranking committee member began his opening statement. “Now Facebook may not intend to be dangerous, but surely they don’t respect the power of the technologies they’re playing with. Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over and called every arson a learning experience.”

Brown repeatedly referenced what he called Facebook’s “competing missions” to make the world more connected and to make money for themselves.

“Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. It should be treated like the profit-seeking corporation it is, just like any other company,” Brown said.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren feiner
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This wealthy European nation has the most potential for future growth, researchers say

Switzerland has more potential for economic growth than any other country in the world, according to new research. In its fifth annual ranking of global economic growth potential released on Monday, management consultancy KMPG analysed two decades’ worth of data, measuring how 180 countries performed across 26 metrics. The metrics fell into one of five categories: macroeconomic stability, openness, quality of infrastructure, quality of institutions, and human development. Switzerland, despite al


Switzerland has more potential for economic growth than any other country in the world, according to new research. In its fifth annual ranking of global economic growth potential released on Monday, management consultancy KMPG analysed two decades’ worth of data, measuring how 180 countries performed across 26 metrics. The metrics fell into one of five categories: macroeconomic stability, openness, quality of infrastructure, quality of institutions, and human development. Switzerland, despite al
This wealthy European nation has the most potential for future growth, researchers say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: chloe taylor
Keywords: news, cnbc, companies, ranking, economic, world, say, levels, growth, openness, researchers, nation, quality, future, european, wealthy, netherlands, potential


This wealthy European nation has the most potential for future growth, researchers say

Switzerland has more potential for economic growth than any other country in the world, according to new research.

In its fifth annual ranking of global economic growth potential released on Monday, management consultancy KMPG analysed two decades’ worth of data, measuring how 180 countries performed across 26 metrics.

The metrics fell into one of five categories: macroeconomic stability, openness, quality of infrastructure, quality of institutions, and human development.

Switzerland, despite already being a well-developed and wealthy nation, was awarded the highest score in the ranking, meaning it was most likely to see strong productivity levels (high levels of economic output) which would boost overall growth. The Netherlands and Singapore followed close behind.

While Swiss infrastructure, institutions and openness scored highly in KPMG’s ranking, the report said that education — a metric that fell under the human development category — was an area that needed attention.

“Switzerland scores below peers such as Germany, Netherlands, Finland and Denmark,” Yael Selfin, chief economist at KPMG in the U.K., told CNBC via email. “It will take up to 10 years for improvements in education to feed into the labor market, and it would therefore be good to also focus on improving workers’ skills through on-the-job training.”

Switzerland was recently named the best place in the world to live and work by HSBC, with 80% of people who had relocated to the country saying they were happy with its economic climate. According to the OECD, the small European nation had one of the world’s strongest economies in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: chloe taylor
Keywords: news, cnbc, companies, ranking, economic, world, say, levels, growth, openness, researchers, nation, quality, future, european, wealthy, netherlands, potential


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S&P 500 could rise 15% in the second half: Guggenheim’s Scott Minerd

The global chief investment officer at Guggenheim said Monday that he thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts. And the central banks around the world have basically signaled that they are going to step on the accelerator,” Minerd said. The S&P 500 gained 17% in the first six months of this year, the best first half for the index since 1997. Minerd compared current market conditio


The global chief investment officer at Guggenheim said Monday that he thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts. And the central banks around the world have basically signaled that they are going to step on the accelerator,” Minerd said. The S&P 500 gained 17% in the first six months of this year, the best first half for the index since 1997. Minerd compared current market conditio
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Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jesse pound
Keywords: news, cnbc, companies, months, world, rates, scott, rise, minerd, 15, half, sp, stocks, 500, 1998, end, guggenheims, second, youre


S&P 500 could rise 15% in the second half: Guggenheim's Scott Minerd

The global chief investment officer at Guggenheim said Monday that he thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts.

Scott Minerd said on CNBC’s “Halftime Report ” that the easier monetary policy from the Federal Reserve and central banks around the world would boost stocks before the end of the year.

“This rally — whether you’re looking at bonds, you’re looking at stocks, high yield, pick whatever you want — is all being driven by liquidity. And the central banks around the world have basically signaled that they are going to step on the accelerator,” Minerd said.

The S&P 500 gained 17% in the first six months of this year, the best first half for the index since 1997. However, the Fed is widely expected to cut interest rates at the end of the month, as domestic inflation and wage growth have not accelerated in recent months and international economic growth has slowed.

Minerd compared current market conditions to 1998, when the Fed cut rates in three consecutive months amid concerns about an economic crisis in Asia. The S&P 500 rose more than 28% in the last four months of that year.

“All you have to do is look at a replay of the post-Asia crisis back in 1998, and you get stocks at the kinds of levels that I’m talking about,” Minerd said.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: jesse pound
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McKinsey research finds the world becoming more exposed to China — but not the reverse

The world has become more economically exposed to China at a time when the Asian giant is increasingly relying on its own consumers to boost growth, according to a July report by consultancy McKinsey and Company. The findings by McKinsey come as China is locked in a year-long tariff fight with the U.S. that has spilled into areas such as technology and security. But the report by McKinsey found that consumption contributed to more than 60% of China’s growth during 11 out of 16 quarters — from Ja


The world has become more economically exposed to China at a time when the Asian giant is increasingly relying on its own consumers to boost growth, according to a July report by consultancy McKinsey and Company. The findings by McKinsey come as China is locked in a year-long tariff fight with the U.S. that has spilled into areas such as technology and security. But the report by McKinsey found that consumption contributed to more than 60% of China’s growth during 11 out of 16 quarters — from Ja
McKinsey research finds the world becoming more exposed to China — but not the reverse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: yen nee lee
Keywords: news, cnbc, companies, finds, research, exposed, mckinsey, growth, yearlong, asian, world, economy, report, trade, reverse, chinas, reliance, china


McKinsey research finds the world becoming more exposed to China — but not the reverse

The world has become more economically exposed to China at a time when the Asian giant is increasingly relying on its own consumers to boost growth, according to a July report by consultancy McKinsey and Company.

The findings by McKinsey come as China is locked in a year-long tariff fight with the U.S. that has spilled into areas such as technology and security. Economists generally predicted that the Chinese economy — instead of the U.S. — will experience a larger hit from elevated tariffs partly due to the Asian country’s relatively heavier reliance on exports.

But the report by McKinsey found that consumption contributed to more than 60% of China’s growth during 11 out of 16 quarters — from January 2015 to December 2018.

That means China’s economy has been reducing its reliance on trade as a source of growth. In fact, the study found that China’s net trade — the value of total exports minus that of imports — “actually made a negative contribution” to growth last year.

“I think that’s one of the things they’re trying to do: To build a more robust, a more diversified economy,” Oliver Tonby, McKinsey’s chairman in Asia, told CNBC’s “Squawk Box” on Monday.


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: yen nee lee
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British government won’t try to stop Facebook’s new Libra digital coin, says UK finance minister

Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system. The social networ


Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister. Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it. This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system. The social networ
British government won’t try to stop Facebook’s new Libra digital coin, says UK finance minister Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: david reid
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British government won't try to stop Facebook's new Libra digital coin, says UK finance minister

Regulators, not lawmakers, should decide whether Facebook needs a banking license to launch the new digital currency Libra, according to Philip Hammond, Britain’s outgoing finance minister.

Hammond also told CNBC on Monday that the British government will “engage” with Libra and won’t try to stop it.

This week in the U.S., Senate and House committees are due to examine Facebook’s proposed Libra currency and how it might impact consumers, investors and the U.S. financial system.

The social network’s digital token is being launched as a solution for the number of people in the world currently operating without access to banking services. It is also viewed as a potential moneymaker for Facebook that would likely compete with the multibillion-dollar remittance market.


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San Francisco to be as hot as Portugal and NYC like Virginia Beach by 2050, scientists say

San Francisco could be as hot as Portugal and New York would feel like Virginia Beach by 2050 if the findings of a major new climate change study are correct. New York City’s climate would be up to 4 degrees warmer in 2050, resembling Virginia Beach as it is today, and Seattle will be closer to San Francisco in 2019. In Europe, cities were expected to be 3.5 degrees warmer in summer and 4.7 degrees warmer in winter by 2050. “If carbon emissions remain unabated … the costs of climate change under


San Francisco could be as hot as Portugal and New York would feel like Virginia Beach by 2050 if the findings of a major new climate change study are correct. New York City’s climate would be up to 4 degrees warmer in 2050, resembling Virginia Beach as it is today, and Seattle will be closer to San Francisco in 2019. In Europe, cities were expected to be 3.5 degrees warmer in summer and 4.7 degrees warmer in winter by 2050. “If carbon emissions remain unabated … the costs of climate change under
San Francisco to be as hot as Portugal and NYC like Virginia Beach by 2050, scientists say Cached Page below :
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San Francisco to be as hot as Portugal and NYC like Virginia Beach by 2050, scientists say

San Francisco could be as hot as Portugal and New York would feel like Virginia Beach by 2050 if the findings of a major new climate change study are correct.

Researchers from thinktank The Crowther Lab assessed how 520 cities around the world would look by 2050 in an “optimistic scenario,” where the implementation of policies will have stabilized CO2 emissions and the mean global temperature will have increased by 1.4 degrees Celsius.

In the U.S., Washington, D.C. would have a climate like modern-day Nashville by 2050, the analysis found, while San Francisco’s climate will be more like the current climate in Portuguese capital Lisbon. New York City’s climate would be up to 4 degrees warmer in 2050, resembling Virginia Beach as it is today, and Seattle will be closer to San Francisco in 2019.

London’s climate would be more akin to Barcelona today, the report predicted, while Madrid’s will be closer to modern-day Marrakech.

The analysis showed that more than three-quarters of cities around the world will experience “a striking change of climate conditions,” even in the optimistic scenario. Researchers claimed that one in five cities – including Kuala Lumpur, Jakarta, and Singapore – are likely to exist in a climatic conditions that don’t currently exist on the planet today, with wild swings between drought and heavy rainfall.

Although tropical regions will experience smaller changes in temperature, their wettest months will become 5% wetter and their driest months 14% drier, according to the analysis. Droughts in the region will become more severe, the report claimed.

The most dramatic shift is predicted for cities with northern latitudes, which would see their climates in 2050 resembling the current conditions in cities more than 600 miles to their south.

In Europe, cities were expected to be 3.5 degrees warmer in summer and 4.7 degrees warmer in winter by 2050.

“If carbon emissions remain unabated … the costs of climate change under a business as usual scenario will exceed $12 trillion by 2050,” the report’s authors said. “We believe that it is through this comparison with current cities and their known struggles with their climate conditions that the need to act becomes tangible.”

Climate change has been flagged as an urgent issue that poses a social and economic threat.

The UN warns that without action, the world’s average surface temperature is likely to surpass 3 degrees Celsius this century.

Earlier this year, a World Economic Forum survey identified extreme weather events and the failure to mitigate climate change as two of the biggest global risks.

Meanwhile, IMF chief and nominee for the European Central Bank presidency Christine Lagarde previously warned: “If we don’t do anything about climate change now, in 50 years’ time we will be toasted, roasted and grilled.”


Company: cnbc, Activity: cnbc, Date: 2019-07-11  Authors: chloe taylor
Keywords: news, cnbc, companies, degrees, temperature, warmer, scientists, francisco, 2050, cities, world, nyc, san, portugal, conditions, virginia, today, say, beach, climate, change, hot


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