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France, U.S Move To Crash Oil Price

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France, U.S Move To Crash Oil Price

France President Emmanuel Macron and U.S. President Donald Trump have agreed to put pressure on oil producers to bring down prices.

Oil prices have risen 45 per cent since Macron took office in mid-2017 and his government is facing pressure on high prices from grassroots movement protesting recent petrol tax hikes.

He said on Wednesday: “When I talked at length with Donald Trump on Saturday in Paris, we together took the decision to put pressure on Saudi Arabia and other producers to limit prices.”

“If you look at prices these last few days, oil prices are starting to fall and I hope that this fall will continue,” he added.

Oil prices rose nearly two per cent on Wednesday, recovering some lost ground the previous day amid signs that OPEC and allied producers may cut output next month to boost prices.

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World News

Theresa May Survives Confidence Vote

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Theresa May Survives Confidence Vote

British Prime Minister Theresa May can rest easy after winning a vote of confidence on Wednesday night in the conservative party by 200 to 117.

After alighting from the vote last night unscathed, she is now immune from a leadership challenge for a year.

But rocky road still lies ahead as she tries to push through a vote in parliament to adopt her Brexit deal with the EU.

After the all important confidence vote on wednesday night, May was in Brussels again thursday morning to finetune the divorce deal she had struck for Britain.

May vowed, after vote results were announced on Wednesday night, that she will deliver the brexit “people voted for.”

She acknowledged the rather high number of her MPs who had voted against her. She promised to listen to, and address, their concerns.

The vote was triggered by 48 of her MPs who are angry at her Brexit policy. They say the deal betrays the demands of the 2016 referendum result.

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Business News

IATA Forecasts Airlines Will Generate $3b More In 2019

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IATA Forecasts Airlines Will Generate $3b More In 2019

The International Air Transport Association (IATA), which represents most global carriers, has forecast airlines will generate $3 billion more in total profits in 2019. The industry realized $32 billion this year. IATA says although airlines face increased taxes, they will carry more passengers next year that would boost industry profits.

Iata says airlines in North America are performing the best, but Africa remains the weakest region for aviation.

Net profits for airlines across Africa are expected to fall, for the fourth consecutive year next year by three-tenths of a percent.

Losses for carriers across Africa have widened as fuel costs have increased.

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World News

UN Urges Immediate Action On Climate Change

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UN Urges Immediate Action On Climate Change

UN Secretary-General Antonio Guterres said on Wednesday at the ongoing 24th Conference of Parties (COP24) in Poland that it will “not only be immoral, but suicidal”, should the world body fail to agree on climate change action.

He challenged the more than 100 government leaders gathered in Katowice to find consensus and “finish the job”, noting the roadblocks continuing at the (COP24) climate change conference over how to implement the historic 2015 Paris Agreement.

Since Dec. 2, the conference has brought together thousands of climate action decision-makers, advocates and activists, with one key objective – to adopt global guidelines for the 197 parties of the 2015 Paris Agreement.

The 197 parties of the 2015 Paris Agreement committed to limiting global warming to less than 2 degrees Centigrade – and as close as possible to 1.5 degrees Centigrade – above pre-industrial levels.

As the conference nears its end, the UN chief acknowledged progress in the negotiations but said a lot still remains to be done.

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