Tanker carrying 1 million barrels of oil hit by explosion off Libya
An oil tanker carrying one million barrels of crude oil exploded near the Libyan coast, Bloomberg reported on 30 June....
The European Parliament has approved a relaxation of car and van CO₂ emissions targets, giving automakers more time to comply and potentially avoid billions in fines, following concerns over their readiness to meet 2025 goals.
European carmakers will now have additional time to meet EU carbon emissions targets, after the European Parliament backed a proposal to soften the rules - potentially reducing fines estimated at up to €15 billion.
The move comes amid concerns that the original targets, which rely heavily on the rapid rollout of electric vehicles, would be difficult to meet given that many European automakers lag behind their Chinese and American competitors in EV sales.
In response to sustained lobbying from the industry, the European Commission proposed that carmakers be assessed on their average emissions over the 2025-2027 period, rather than solely in 2025. The Parliament voted 458 in favor, 101 against, with 14 abstentions.
European Commission President Ursula von der Leyen defended the decision, saying it would offer manufacturers “breathing space.” Despite the change, Volkswagen noted that the extended compliance window would still present a significant challenge in 2025.
However, critics argue that automakers have had ample time - seven years - to prepare for the targets, and claim the projected fines have been significantly overstated.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
The International Monetary Fund (IMF) on Monday approved the disbursement of an additional $500 million to Ukraine, following the completion of its eighth review under the country’s $15.5 billion Extended Fund Facility.
U.S. President Donald Trump on Monday publicly criticized AT&T for technical issues that disrupted a national conference call with faith leaders, urging the company’s leadership to address the situation and suggesting his administration may turn to a different carrier in future communications.
France, Spain, Kenya, and several other nations announced on Monday a joint pledge to tax premium-class airline passengers and private jet users, in a move aimed at raising billions of dollars for climate action and sustainable development.
Mexican authorities discovered 20 bodies, including several decapitated, on Monday in the western state of Sinaloa, where cartel violence has sharply increased.
An oil tanker carrying one million barrels of crude oil exploded near the Libyan coast, Bloomberg reported on 30 June.
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