Europe House Media Group Extend Their Best Wishes For A Peaceful, Happy, and Prosperous 2018

The Europe House Media Group, including the editors of Almere-Digest, EU-Digest, Insure-Digest, and Turkish-Digest wish their readers, sponsors and advertisers a Peaceful, Happy and Prosperous 2018.

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Technology: 17 biggest tech scandals of 2017 - by Avery Hartmans

Years of sexual misconduct in the tech industry (and elsewhere) were brought to light this year.

Tech giants like Facebook and Google had to answer questions about their roles in swaying the 2016 election.

Apple finally owned up to intentionally slowing down old iPhones.

Even YouTube star PewDiePie had a fall from grace, losing out on a lucrative deal with Disney for making anti-Semitic comments.

In short, it's been quite a year in tech.

What follows are the biggest scandals in the tech industry over the course of the last year. Grab some popcorn:
 

Read the full report at:: 17 biggest tech scandals of 2017 - Business Insider

USA: President Trump again falsely claims he's signed more bills than any president - by Brian Bennett

The President of the No 1 Super Power - "What a guy !"

After another morning at his Florida golf club, President Donald Trump visited firefighters and paramedics at a West Palm Beach firehouse and praised his own performance as president, including a false boast.

Trump touted his administration’s work to roll back government regulations and cut taxes and claimed credit for the stock market hitting record highs. He also said he’s signed more bills into law than any other president, which isn’t true.

“We have signed more legislation than anybody,” Trump said, standing in front of a rescue vehicle inside the fire station.

Note EU-Digest: the King of the BS strikes again. Those who have followed Trump’s career say his lying isn’t just a tactic, but an ingrained habit. New York tabloid writers who covered Trump as a mogul on the rise in the 1980s and ’90s found him categorically different from the other self-promoting celebrities in just how often, and pointlessly, he would lie to them. In his own autobiography, Trump used the phrase “truthful hyperbole,” a term coined by his ghostwriter referring to the flagrant truth-stretching that Trump employed, over and over, to help close sales. Trump apparently loved the wording, and went on to adopt it as his own.

Read more: Tribune News Service | Preview | President Trump again falsely claims he's signed more bills than any president

Europe's 'best-kept secret' - its booming bio-economy- by David Burrows

Europe's bio-economy is worth €2.2 trillion and employs 18.6 million people across the bloc, but a third of citizens are unaware it exists.

"People are completely unaware that the EU is number one in the world [for bio-based products] and they don't know it is investing [in the bio-economy]," said Susanna Albertini, managing director of FVA, the Italian partner of the Bioways project, at the first stakeholder forum for the bio-based industries (BBI), which took place in Brussels on 7 December.

The BBI joint undertaking (BBIJU), running from 2014-2020, is a €3.7 billion public-private partnership between the EU and the Bio-based Industries Consortium. EU funding through Horizon 2020 has committed €975 million, with the rest coming from private investment.

So far, for every €1 put in by the EU, €2.59 has been invested by the private sector. Companies outside the EU are "getting interested" in what is going on here, said Philippe Mengel, executive director of the BBIJU. "The EU is back on the map as a place to invest in bio-based industry."

Since the BBIJU started in 2014, 45 new bio-based building blocks have been developed, exceeding the 2020 target of 30, as well as 90 new bio-based materials, against a target of 50.

Some 40 new bio-based consumer products have also been launched (the target was 30).

One innovation with considerable potential – not least given the focus on disposable plastics currently – is PEF (polyethylene furanoate), a bio-based alternative to PET (polyethylene terephthalate).

Around 70 percent of soft drinks are now packaged in PET plastic bottles, but PEF is the "first example of a polymer that's better than the petroleum-based ones", said Tom Van Aken, CEO of Avantium, which has developed the technology.

Stronger and thinner than its oil-based cousin, PEF also has improved barrier properties, said Van Aken, so the shelf-life of products can be extended.

Backed by a €25 million BBI subsidy, the company is part of a consortium developing a supply chain for FDCA (2,5-furandicarboxylic acid), the building block for PEF. Coca-Cola and Danone have also invested in Avantium's research.

For bio-based products, supply chains are critical.

New markets for agricultural and forestry products that are used in bio-based materials could reportedly create around 700,000 jobs by 2030, 80 percent of them rural, and much has been made of the potential in the bio-economy to tick a number of boxes in terms of economic and environmental sustainability.

PEF won't be available commercially before 2020, for example, but it is part of a global bio-plastics market that is set to grow 20 percent in the next five years, according to research published at the European bioplastics conference in Berlin in November.

Asia accounts for the largest share of production (50 percent). Europe represents 20 percent, but this should expand to 25 percent by 2022, thanks to the European Commission's commitment to transitioning to a circular economy model.

A political deal on the circular economy package was struck on Monday (18 December).

A full review of the bio-economy strategy – which is seen as complementary to the circular economy – is planned for 2018, but a progress report published in November has already concluded that "there is great potential in a sustainable circular bio-economy".

With forward-thinking policies in place more investment should follow. As Europe's science and research commissioner Carlos Moedas has said: "Private money goes where stability is and where policies are predictable."

Much less predictable is how consumers view bio-based products. It was through a couple of new surveys with 500 people that Bioways – which was set up to raise awareness of bio-based products – discovered just how poor people's understanding is. "It's a mess," admitted Albertini.

To date, there has been little research on people's perceptions regarding bio-based products.

One of the few academic studies there are suggested a general state of confusion. Researchers in the Netherlands quizzed 89 people from five EU countries (a fair-sized study in qualitative terms) and concluded that a large number of them had questions, felt uncertain or had "mixed feelings" regarding the whole thing.

"It [bio-based] is very strange. What does it mean?" admitted one of the consumers involved. Others suggested the whole thing could be a "marketing gimmick".

Concerns certainly intensified when the products in question are not 100 percent bio-based (one of the products given to them was Coca-Cola's part-plant bottle), or if they were produced outside the EU in countries (for example, a hemp-based T-shirt from China).

Companies will need to tread carefully when it comes to marketing their wares. Whether it's face creams enhanced by cellulose microfibrils, thistles for compostable packaging or waste milk proteins that are used to make dresses, the message from the study was to keep things simple and clear.

The term 'bio-based' doesn't help in that respect. But this shouldn't stop companies ramping up their efforts to communicate the environmental benefits and functionality of their products.

MEP Lambert van Nistelrooij, the Dutch Christian Democrat member of the Europe People's Party, said Europe's design ability isn't always matched by its selling techniques. He called on the sector to "be visible and be touchable."

Some already are. In a survey of 40 brands by bio-economy communications specialists, Sustainability Consult, published in November, 71 percent said they were already communicating their use of bio-based products externally.

Consumer demand for environmentally-friendly products was the key driver for their investment.

More and more member states have also adopted bio-economy strategies, which will help raise awareness at a national level. And the potential of the bio-based economy will no doubt continue to appeal to a commission that has made jobs, growth and investment a priority.

"I think 2018 is going to be a turning point for the bio-economy as it moves from niche to norm," said John Bell, bio-economy director at DG research and innovation.

At €2.2 trillion and 18.6 million jobs you could say the bio-economy has already arrived – but many people are still waiting for the bang.

Read more: Europe's 'best-kept secret' - its booming bio-economy

EUROZONE ECONOMICS: Pierre Moscovici sees big leap for eurozone – by Matthew Karnitschnig

European Commissioner for Economic and Financial Affairs Pierre Moscovici said Friday he was confident eurozone countries would pursue an ambitious restructuring of their currency union after upcoming elections in France and Germany. “It will be a window of opportunity that we must not miss,” he said in an interview on the sidelines of the International Monetary Fund’s spring meeting.

Though he acknowledged there is still no political consensus on whether to pursue such a course, he argued that the challenges the single currency faces will force policymakers to act.

“I’m confident that consciousness will come that it is of basic common interest that we have stronger tools for the eurozone,” Moscovici said, adding that he expected the Commission’s upcoming paper on the future of monetary union to be “ambitious.” “This debate is not over, it is starting.”
 

Read more: Pierre Moscovici sees big leap for eurozone – POLITICO

Netherlands -US Relations: With friends like this who needs any enemies? The new US ambassador to Netherlands describes own words as 'fake news - by Martin Belam'

The US ambassador to the Netherlands faced an excruciating moment on television when he denied ever saying that there were no-go zones in the Netherlands, calling the suggestion “fake news”.

Trump’s new choice for ambassador, Pete Hoekstra, who was only sworn in by the vice president, Mike Pence, on 11 December, was being interviewed for current affairs programme Nieuwsuur by reporter Wouter Zwart.

Zwart says: “You mentioned in a debate that there are no-go zones in the Netherlands, and that cars and politicians are being set on fire in the Netherlands.”

Hoekstra replies: “I didn’t say that. This is actually an incorrect statement. We would call it fake news.”

Hoekstra is then shown clips of him saying: “The Islamic movement has now gotten to a point where they have put Europe into chaos. Chaos in the Netherlands, there are cars being burnt, there are politicians that are being burnt ... and yes there are no-go zones in the Netherlands.”

Challenged about having called this “fake news”, Hoekstra then went on to deny to Zwart that he had in fact used the phrase “fake news”.

“I didn’t call that fake news. I didn’t use the words today. I don’t think I did.”

Hoekstra, who was born in Groningen in the Netherlands, was a Republican Congressman for Michigan between 1993 and 2011, and served as chair of the House intelligence committee for two years during that time.

Note EU-Digest: "No Mr. Hoekstra, we also don't believe that story of the Dutch boy putting his finger in the dike" 

Read more: US ambassador to Netherlands describes own words as 'fake news' | World news | The Guardian

EU Trade agreement with Mexico: EU and Mexico fail to conclude political agreement on trade deal – by Iana Dreyer

European trade officials had been more optimistic about the prospects for a deal with Mexico than with the South American bloc Mercosur, talks towards which ended in a limbo in early December.

But European Commission hopes to announce a ‘political agreement’ with Mexico by year-end were nonetheless dashed.

The issues that required ironing out over the last days included market access in agriculture, agreement over a few geographical indications on cheeses (such as Manchego) and the EU’s investment court system.

EU trade chief Cecilia Malmström said today: “We are confident we can solve all the remaining political issues. But we need a little bit more time.”

Read more: EU and Mexico fail to conclude political agreement on trade deal – EURACTIV.com

EU-Bitcoin Concerns:The Bitcoin Surge Sparks Bubble Warning by Top European Official - by Alexander Weber

The frenzy on virtual-currency markets has prompted the starkest warning yet from the European Union’s financial-services chief, who said that investors are at risk of losing everything.

EU Commissioner Valdis Dombrovskis asked the heads of the EU’s three financial supervisors to update their warnings to consumers “as a matter of urgency” in light of recent market developments, acording to a letter seen by Bloomberg.

“The developments relating to bitcoin and cryptocurrencies in recent weeks require our heightened attention,” Dombrovskis wrote in the letter. “While I acknowledge the important opportunities offered by blockchain technology and its various applications, the current market developments around bitcoin constitute the signs of a pricing bubble, even if -- in terms of global volume -- it remains at the moment within a small share of the financial markets.”

Read more: Bitcoin Surge Sparks Bubble Warning by Top European Official - Bloomberg

USA: Tax Bill - House forced to revote on GOP tax bill Wednesday

 Gleeful Republicans on Tuesday muscled the most sweeping rewrite of the nation's tax laws in more than three decades through the House. House Speaker Paul Ryan dismissed criticism of the widely unpopular package and insisted "results are what's going to make this popular."

The vote, largely along party lines, was 227-203 and capped a GOP sprint to deliver a major legislative accomplishment to President Donald Trump after a year of congressional stumbles and non-starters.

Senate Majority Leader Mitch McConnell, R-Ky., said the Senate would vote Tuesday evening, sending the legislation to Trump for his signature.

 

Democrats say three provisions in the Republican $1.5 trillion tax bill violate Senate rules and will likely be removed before that chamber votes on the measure.

The House approved the legislation Tuesday. But this means the House will have to vote again on the legislation once it's been amended and approved by the Senate.
 

Read more: House passes massive tax package; Senate to vote next

EU-US Relations: The new Trump Isolationist Doctrine and Strategy requires a reevaluation of the EU foreign policy objectives

A wall around America, instead 
of one between Mexico and US

President Donald Trump declared a new national security strategy on Monday,December 18, stressing the "America first" message of his 2016 campaign and faulting previous U.S. leaders for failing to measure up to it and look out for the nation's citizens. Isolation

"Our leaders engaged in nation building abroad while they failed to build up and replenish our nation at home," he said, pointing to the economy's strong performance and predicting even better under his policies.

His security strategy envisions nations in constant competition, reverses Obama-era warnings on climate change and affirms that the United States will unilaterally defend its sovereignty, even if that means risking existing the agreements with other countries that have dominated the United States' foreign policy since the Cold War.

The strategy from the Republican president could sharply alter U.S. international relationships if fully implemented. It focuses on four main themes: protecting the homeland, promoting American prosperity, demonstrating peace through strength and advancing American influence in an ever-competitive world.

Trump's doctrine holds that nation-states are in perpetual competition and that the U.S. must fight on all fronts to protect and defend its sovereignty from friend and foe alike. While the administration often says that "America First" does not mean "America Alone," the national security strategy makes clear that the United States will stand up for itself even if that means acting unilaterally or alienating others on issues such as trade, climate change and immigration.

Despite the risk of potential isolation presented by Trump's strategy, its fundamentals are not a surprise. The strategy emphasizes that U.S. economic security is national security. And it stresses that the U.S. is interested only in relationships with other countries, including in alliances such as NATO, that are fair and reciprocal.

The strategy also details the threats of "rogue regimes," like North Korea. It says that China and Russia "challenge American power, influence, and interests, attempting to erode American security and prosperity."

Despite international challenges, the document cites emerging opportunities to advance American interests in the Middle East. "Some of our partners are working together to reject radical ideologies and key leaders are calling for a rejection of Islamist extremism and violence," it says. "Encouraging political stability and sustainable prosperity would contribute to dampening the conditions that fuel sectarian grievances."

Note EU-Digest: Obviously the President of the USA can and must do what in his eyes he believes is good for America. As to the EU, what is good for America, necessarily does not have to be good for the EU. Consequently, as has been written many times, the EU must stop being the "lapdog" of America, given its importance as a world class economy, with a population of close to half a billion people, and establish its own independent foreign policy based on EU principles and  priorities, and include a review of its military objectives within this context.

As to the leaders of European Populists and Nationalist parties, like Geert Wilders, Jean Marie Lr Pen, Nigel Farage, and others, who apparently admire Trump's "America First Isolationist Doctrine",  we  recommend they pack their bags and request asylum in the US  from their idol Donald Trump.   

Read more: Trump unveils details of 'America First' security strategy

Ocean Pollution and Fishing Industry: Are seafood lovers really eating 11,000 bits of plastic per year?

Fishing Industry Under Pollution warning

The claim: Seafood lovers could be eating up to 11,000 microscopic pieces of plastic a year.

Reality Check verdict: There is evidence of plastic microparticles being found in the particular mussels and oysters examined, but the research suggests that in order to consume that much plastic you'd have to be eating an average of more than four oysters or between 17 and 18 mussels a day.

The figure of 11,000 bits of plastic a year, which has been reported by the Daily Mail and others recently, comes from a piece of Ghent University research dating back to June 2014.

The researchers were investigating how much plastic is consumed by humans via water molluscs such as mussels and oysters.

The researchers looked at mussels which lived on farms in the North Sea and were bought in Germany, and at oysters from Brittany in France which were farmed in the Atlantic Ocean.

Farming in this context means the mussels and oysters lived on "rope" that hangs in seawater while they were growing.

First they examined the combined tissue of three mussels and two oysters which was about 15-20 grams of meat and found that there was an average of 0.42 plastic particles per gram.

While reports of this figure featured photographs of plastic bottles and other waste washed up on beaches, these particular particles are very small - if you put 11,000 of them in a line it would cover about 4in (11cm).

To get an idea of how many particles people were likely to be eating, the authors accessed data from the European Food Safety Authority's food consumption database.

Read more: Are seafood lovers really eating 11,000 bits of plastic per year? - BBC News

USA Economy: US becoming 'world champion of extreme inequality' under Donald Trump, says UN poverty envoy - by Philip Alston

The United States under Donald Trump is fast becoming “the champion of inequality”, according to a scathing report by the United Nation’s expert on poverty.
 
While the US is one of the richest nations, entrenched poverty already experienced by many will be made worse by policies promoted by Mr Trump and the Republicans, in particular a planned tax overhaul that critics say gives huge cuts to the wealthy, it added.

“The American dream is rapidly becoming the American illusion, as the United States now has the lowest rate of social mobility of any of the rich countries,” said Philip Alston the UN Nations Special Rapporteur on extreme poverty and human rights.

For the complete report on Mr. Alston's investigative visit go to http://www.ohchr.org/EN/NewsEvents/Pages/DisplayNews.aspx?NewsID=22533&LangID=E

Read more: US becoming 'world champion of extreme inequality' under Donald Trump, says UN poverty envoy | The Independent

Stock Markets: Bitcoin buyers should be prepared to lose all their money, top UK regulator warns

Bitcoin buyers have been issued a "serious warning" from one of Britain's leading financial regulators.

Andrew Bailey, chief executive of the Financial Conduct Authority (FCA), told BBC's "Newsnight" on Thursday, "If you want to invest in bitcoin, be prepared to lose all your money."

Bailey said a lack of backing from governments and central banks for the world's most popular digital currency was evidence that putting money into bictoin was not a secure investment. He also said buying bitcoin was akin to gambling because it had the same level of risk.

Bitcoin's meteoric price rise has stunned critics and enthusiasts alike, leaving investors scrambling to understand the driving factors for the digital currency's runaway rally.

Bitcoin traded at $17,159 on Friday morning, according to CoinDesk's bitcoin price index. The digital currency has a market value of approximately $291 billion — the largest among the cryptocurrencies. A year ago, one bitcoin was worth around $780.

"If you look at what has happened this year, I would caution people … We know relatively little about what informs the price of bitcoin," Bailey told the BBC.

Soaring interest from institutional and retail investors has prompted global exchanges, such as the Cboe, to launch futures contracts.

Meantime, CME Group is poised to a launch bitcoin futures contract on Sunday and a German stock exchange operator is reportedly considering whether to follow suit.

The launch of bitcoin futures contracts represents a significant step in the legitimization of cryptocurrencies, according to some market participants. Futures are derivatives, or financial instruments, that obligate a trader to either buy or sell an asset at a specified time and at a specified price.

Bitcoin bulls have frequently referenced the cryptocurrency's scarcity value as a primary reason for its staying power. Somewhat like gold, bitcoin supply grows at glacial and ever-decreasing fixed rates with only 21 million bitcoins set to be in existence.

But while the trading of bitcoin futures on two of the world's largest exchanges is expected to provide a layer of official oversight that had not previously existed, several leading voices have expressed skepticism.

JPMorgan Chase CEO Jamie Dimon called bitcoin a "fraud" that would eventually blow up, while billionaire investor Warren Buffett urged traders to "stay away from it," calling the rally a "mirage."

Read more: Bitcoin buyers should be prepared to lose all their money, top UK regulator warns

US Wars: Wars are bleeding the US economy dry and the success rate of these wars? A bigger than life O

Investment in the US military versus return on investment?

Emily Larsen wrote in  the Daily Caller on Friday 8 November, that President Donald Trump claimed the U.S. has spent $7 trillion in the Middle East at a rally in Florida on Friday. This time he Presidewnt Trump seemed to have at least the some of the figures right  even thogh he might have mixed up the sequence of these figures..

Trump said: “We have spent as of two months ago almost $7 trillion in the Middle East,” Trump said. “And you know what we have? We have nothing. It’s worse than it was 17 years ago when they started.”

Trump made similar claims during the 2016 presidential election and in his first months in office, alluding to the cost of U.S. wars in Iraq, Afghanistan and elsewhere in the Middle East.

Some figures from studies mainly, based on figures provided by the military estimate U.S. spending on wars in the Middle East is high, about $4.4 trillion, but not as high as Trump claims.

War spending in Iraq, Afghanistan, Pakistan and Syria since 2001 is about $4.4 trillion, according to professor Neta Crawford from Brown University’s Costs of War project.

The Department of Defense (DOD) reported in June it had spent only $1.5 trillion on war-related costs since Sept. 11, 2001. But Crawford says that direct DOD spending doesn’t tell the whole story.

“War costs are more than what we spend in any one year on what’s called the pointy end of the spear,” she told The Wall Street Journal last month. “There are all these other costs behind the spear, and there are consequences of using it, that we need to include.”

Crawford’s $4.4 trillion figure includes costs through 2017 for operations overseas, medical and disability claims for veterans, counter terrorism efforts by the Department of Homeland Security and interest on borrowing for the wars.

Her estimate comes closer to Trump’s $7 trillion figure, when including expected future spending. When including expenditures for veteran health care through 2056 and estimated war costs for 2018, total war-related spending rises to $5.6 trillion.

A Harvard working paper from 2013 estimated that the costs of the wars in Iraq and Afghanistan will total between $4 trillion and $6 trillion. These figures are also closer to Trump’s claim, but they are also based on cost estimates of veteran care for decades to come. Trump’s claim is based on costs to date.

Another factor is that the wars in the Middle East are financed almost entirely with debt. Crawford’s study estimates that accumulated interest on war appropriations through 2013 alone will add $7.9 trillion to the national debt by 2056. But, again, these are expected costs, not costs so far.

Note EU-Digest: the bottom line,whatever way one tries to juggle with the figures, is quite clear. The US is spending far too much on its military activities and basically have very little or nothing to show for it.  

Consequently, the EU must at least have the courage to also question these expenditure,  specially after President Trump scolded them for not paying their share of NATO expenditures. After all, what would otherwise be the purpose for EU nations to remain in the NATO?   

EU-Digest

Global Warming: World Bank won't back oil and gas projects after 2019

The World Bank has confirmed that it will stop financing upstream oil and gas projects after 2019 except under exceptional circumstances in the world's poorest countries.

The global financial institution made the announcement at climate summit in Paris on Tuesday, which took place roughly two years after the historic COP21 climate conference in the same city.

At Tuesday's summit, French insurance giant AXA announced that it will cease insuring the oilsands sector and new coal projects, and will divest more than US$3.5 billion from oilsands and coal companies. This includes divestment from energy giants TransCanada, Kinder Morgan and Enbridge, all of which have Canadian offices and are constructing major pipelines: Keystone XL, the Trans Mountain expansion and Line 3, respectively.

The announcements were among highlights of a one-day "One Planet Summit" attended by about 50 world leaders and 2,000 participants, including Canada and Quebec environment ministers, environmental organizations, business officials and public figures such as actor Sean Penn.
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The goal was to find financial solutions to phase out fossil fuel subsidies and allocate more money to help developing countries that will help their transition to low-carbon economies in the fight against climate change.

“We’re determined to work with all of you to put the right policies in place, get market forces moving in the right direction, put the money on the table, and accelerate action,” World Bank president Jim Young Kim told the closing plenary.

Conference co-organizers, including the Government of France, the World Bank and the United Nations, called in advance of the summit for “concrete action” to reignite momentum as the United States remains absent from the historic Paris Agreement on climate change. Reached in December 2015, the accord aims to keep global warming below 2°C this century.

“We are losing the battle,” French President Emmanuel Macron told participants. “The agreement has become fragile and we’re not going fast enough.”

Several financially stable countries and multilateral institutions made important pledges to help developing countries meet their commitments under the 2009 Copenhagen Accord on climate action.

That roadmap calls for the world to raise US$100-billion every year to help such countries meet their emissions goals by 2020. Last year however, the OECD estimated that only US$43 billion had been pledged, including $2.65 billion in funding from the Government of Canada by 2021

The absence of the United States remained bittersweet and disappointing for most participants, including California Governor Jerry Brown and former United Nations secretary-general Ban Ki-moon, who talked about U.S. President Donald Trump’s “irresponsible” decision to withdraw from the Paris Agreement.

But former New York mayor and businessman Michael Bloomberg said he thought it had increased momentum.

“There isn't anything Washington can do to stop us, quite the contrary, I think that President Trump has helped rally people who understand the problem to join forces and to actually do something rather than waiting for the federal government to do something,” Bloomberg said at a press conference.

Bloomberg and several other major economic leaders, including Bank of England governor Mark Carney, announced 237 companies worth more than $6.3 trillion had committed to participate in a wide-reaching Task Force on Climate-Related Financial Disclosures.

The task force aims to gather reliable data about the environmental metrics of its members, such as the carbon footprint of their operations.

According to the task force, only 20 per cent of major companies are currently reporting this kind of data. Bloomberg and his partners want to change that so CEOS, board members and shareholders can make informed decisions about their management practices and investment.

“Nobody would survive a board meeting where they said, 'I don't know that this risk is going to happen so let's just sit around and do nothing,'" said Bloomberg.

One of the task force members is AXA, the world’s third largest insurance company.

Canadian Environment Minister Catherine McKenna was among the world leaders who said private sector involvement in climate financing is urgent in the race against environmental catastrophe.

“We need to be smarter about this. We have to stop the old school way of thinking where governments are going to take actions,” she said at a panel. “We're missing a lot if we don't leverage the private sector.”

Responding to McKenna's comments however, Environmental Defense national program manager Dale Marshall emphasized that public financing will always be necessary.

“It's really hard to leverage private sector dollars to do adaptation work and that's really where governments need to step in with public money,” Marshall told National Observer.

Pembina Institute federal policy director Erin Flanagan made similar comments. National transitions to a low-carbon economy should be led by governments, she explained, and public policy must create a clear and assertive framework for the private sector, so it understands how it can support the green transition.

“If industry knows that the government is serious about achieving emissions neutrality by 2050, they will be less likely to build gas plants, they will be less likely to build new oil sands operations,” she told National Observer at the summit. “I think we still have a way to go at home to make sure that that consensus on the deadline is well developed.”

Meantime, McKenna unveiled a partnership with the World Bank to support developing countries’ transition away from traditional coal-fired electricity and toward clean energy. A press release said the parties would share best practices "on how to ensure a just transition for displaced workers and their communities."

The partnership announcement came just as a Canadian and German environmental organizations released a report listing six Canadian financial companies among the world's top 100 investors in new coal plants. Friends of the Earth and Urgenwald looked at the top 100 private investors putting money down to expand coal-fired electricity — sometimes in places where there isn't any coal-generated power at the moment.

Together, Sun Life, Power Corporation, Caisse de depot et placement du Quebec, Royal Bank of Canada, Manulife Financial and the Canada Pension Plan Investment Board have pledged $2.9 billion towards building new coal plants overseas, the report said.

Urgewald tracks coal plants around the world and reports there are 1,600 new plants in development in 62 nations, more than a dozen of which don't have any coal-fired plants now.

Read more: World Bank won't back oil and gas projects after 2019 | National Observer

Brexit: EU leaders welcome Brexit divorce deal -by Eszter Zalan

EU leaders welcomed the Brexit agreement on the terms of divorce and said they were ready to launch discussions on the future relationship.

British prime minister May's fellow leaders in Europe welcomed Friday's hard-won Brexit agreement on divorce, but Berlin in particular warned that the more 'highly complex' part of negotiations is to come.

Read more: EU leaders welcome Brexit divorce deal

EU, Eurasian Economic Union, Eurassia, Kazakhstan, Kyrgyzstan, Russia

The squabble between Kazakhstan and Kyrgyzstan was relatively petty, but the cracks that their dispute exposed in the Eurasian Economic Union, a trading bloc to which they both belong, are proving harder than ever to paper over.

In mid-October, days after the outgoing Kyrgyz president lashed out at his counterpart in Kazakhstan with a barrage of insults, a low-intensity trade row erupted. For a period of around six weeks, Kazakhstani border officials intensified checks on cross-border traffic, causing massive delays in the process. Fruits and vegetables piled high in idle vehicles on the Kyrgyz side of the border rotted, leading to significant losses for exporters. At one point, Astana also banned the import of a range of dairy goods from Kyrgyzstan.

While such disputes are not unprecedented in Central Asia, there was something especially awkward about this crisis, given that both countries involved are Eurasian Economic Union (EEU) members. Russia, Belarus and Armenia are the other members of the EEU.

Former Kyrgyz president Almazbek Atambayev, who in November concluded a six-year term as head of state, was livid that the EEU as an organization failed to get invol

For all Atambayev’s irritation, however, the reality is that the EEU in its current form, which has uneasily joined its five mismatched members in 2015, has few efficient mechanisms for tackling such situations. While the job should fall to the bloc’s permanent institutions, in practice members look to figures like Russian President Vladimir Putin to act as a power broker.

“The Eurasian [Economic] Commission has no power to settle disputes. If the problem gets too big, it will go to the level of the Supreme Council for resolution, which means Putin (alongside the other heads of state),” Sean Roberts, an associate professor at George Washington University’s Elliott School of International Affairs, told EurasiaNet.org in an email.

The primary shortcomings of the EEU were engineered unwittingly — or perhaps inescapably — into the bloc at its very inception. The most glaring issues are grossly unequal economies, the highly personalized style of semi-authoritarian leadership typical in the post-Soviet space and the reluctance by any members to yield any significant say over internal policy decisions to supra-national institutions. This combination, said political analyst Denis Berdyakov, will indefinitely hamper the development of the EEU.

“Initially, all the elites wanted to feel the benefits of integration, but they didn’t want to relinquish a share of political sovereignty,” Berdyakov said. “Other global blocs are quickly growing strong and the EEU is just not keeping up with them.”
 
Read moreL Eurasian Economic Union:  Many Problems, Few Solutions | EurasiaNet.org

EU and Japan finalize trade deal

The EU and Japan finalised negotiations on a free trade agreement on Friday (8 December), the bloc's executive announced. The accord builds on the political agreement reached by the two sides over the summer. However, the deal does not cover investment protection yet, as negotiations on dispute resolution continue. The deal creates an economic zone of 30 percent of the world's GDP, according to the EU commission.

Read more: EU and Japan finalise trade deal

Europe – A World-Class Place To Live And Work? -by Juan Menéndez-Valdés

A world-class place to live and work.’ That is how President Juncker described Europe at the summit to formally proclaim the EU Pillar of Social Rights in Gothenburg last month.

And he added: ‘Europe is more than just a single market, more than money … It is about our values and the way we want to live’.

So how do we live? Do the 510 million Europeans across the current 28 Member States really feel that their living conditions are ‘world-class’?

Certainly, many do. But many others still face inequalities and feel excluded or insecure, worry about access to decent housing and jobs and wonder about the future for themselves and their children. This is reflected in growing populist sentiment that seems to reject the Establishment, making the general narrative on Europe appear largely negative.

But, as always, the reality is significantly more complex.

In fact, the last few years have been generally good and the ‘wind is (indeed) back in Europe’s sails’.

The results from the most recent European Quality of Life Survey show overall progress in the areas of quality of life, quality of society and quality of public services. We have seen improvements for many, although from low points following the economic crisis. Indeed, in some cases, the indicators finally display a return to pre-crisis levels – reflecting, in part, the general economic upturn and return to growth across the Member States.

Levels of optimism have risen, and life satisfaction and happiness ratings have remained generally high in most EU countries. Satisfaction with living standards has increased in a majority of Member States and more people can now make ends meet than was the case in 2011.

Trust in national institutions has actually increased across the board and young people in particular show greater trust in other people. The welcome growth in engagement and participation in social and community organisations across Member States and the decline in feelings of social exclusion, which were more prevalent in the downturn, are also signs of a more positive post-crisis environment.

Indeed, perceived tensions in society between poor and rich people, management and workers, old and young persons and men and women, have all declined during the last five years.

Older people indeed fare less well than their younger counterparts, particularly in some central and eastern European countries, and age clearly contributes to decreasing life satisfaction in Bulgaria, Croatia, Malta, Poland, Portugal, Romania and Slovenia. In two-thirds of the EU Member States, more than half of respondents also have concerns about their levels of income in old age.

In fact, despite growth that has seen fewer people reporting material hardship compared to five years ago, over half of the population in 11 Member States still say they have difficulties making ends meet.

This is marginally down on the 13 Member States where the majority of people expressed difficulties making ends meet in 2011 , but still more than 2007 levels. As always, the poor suffer most, and the results show that quality of life has improved less for those in lower income groups.

Read the complete report: Europe – A World-Class Place To Live And Work?

EU releases "nebulous" tax haven blacklist; Netherlands not on it - by Janene Pieters

The European Union published its black list of tax havens. It consists of 17 countries the EU believes help multinationals and rich people avoid the tax authorities. The Netherlands does not appear on the list - no EU countries do. But Aruba and Curacao, which form part of the Kingdom of the Netherlands, were placed on a "gray list" - they have two years to implement promised improvements, or they'll be blacklisted, the Volkskrant reports.

This blacklist was compiled following journalistic revelations about large scale tax evasion by multinationals, entrepreneurs, politicians and others from documents like the Panama papers, the Paradise papers, Lux leaks and the like. After over a year of negotiations, the EU member states agreed to put 17 countries on the blacklist, including Panama, the United Arab Emirates, the Marshall Islands and Grenada. The countries on this EU blacklist can be penalized with trade barriers, stricter controls, loss of EU subsidies and additional tax levies, according to the newspaper.

In addition to the blacklist, the Member States also agreed to put 47 countries on a gray list. These countries promised enough improvements not to be blacklisted immediately. They have a maximum of 2 years to implement these improvements, or they will be moved to the blacklist. In addition to Aruba and Curacao, these countries also include Hon Kong, Taiwan, Turkey, the Cayman Islands, the Seychelles, Guernsey and Andorra.

European Commissioner Pierre Moscovici of Economic and Financial Affairs emphasized that these lists were compiled by the Member States and not by the European Commission. It is up to the Member States themselves how they handle their taxes, and the Member States can decide whether to impose sanctions against the countries on the black list. The Commission tried to impose an obligation to do so, but it failed.

The Socialists and Greens in the European Parliament called the list weak, according to the newspaper. The Greens believe that Member States like the Netherlands, Luxembourg, Great Britain and Cyprus should also be on the blacklist. "It is sad that the member states have shown so little courage and responsibility", PvdA European Parliamentarian Paul Tang said to the Volkskrant. He added that the cry of indignation about tax evasion was smothered in the back rooms of Brussels.

Last week development company Oxfam Novib also said that if the criteria for non-EU countries were also applied to EU member states, the Netherlands, Ireland, Luxembourg and Malta would all be blacklisted. The company referred specifically to the Netherlands' sweetheart tax deal with American coffee giant Starbucks.

Last year the Netherlands was reprimanded by the European Commission for allowing Starbucks to avoid almost 26 million euros in taxes through the Netherlands. Despite the Dutch government's objections, the Netherlands had to reclaim that money from the American coffee giant. 

Read more: EU releases tax haven blacklist; Netherlands not on it | NL Times

Tax Havens: EU blacklist of tax havens is a sham says EPSU

After months of screening some 90 jurisdictions and countries  in light of EC criteria of lack of transparency and harmful tax measures such as 0 or near 0 corporate tax rates, EU Finance Ministers have  agreed  a tiny  list of 17 countries: American Samoa, Bahrain, Barbados, Grenada, Guam, South Korea, Macau, Marshall Islands, Mongolia, Namibia, Palau, Panama, Saint Lucia, Samoa, Trinidad and Tobago, Tunisia and United Arab Emirates are the countries listed, officials said.

The second list includes countries like EU candidates Turkey, Serbia and Montenegro, as well as Switzerland, Bosnia and Herzegovina, Macedonia, Morocco, Thailand, Vietnam and Hong Kong.

It also includes entities that are considered as being among the main tax havens but which have promised to change their legislation: Bermuda, the Cayman Islands as well as UK-associated Jersey, Guernsey and the Isle of Man.

Eight countries and territories recently hit by hurricanes - Antigua and Barbuda, Anguilla, Bahamas, British Virgin Islands, Dominica, St Kitts and Nevis, Turks and Caicos, US Virgin Islands - were given a grace period until February to come up with commitments.

The list excludes the most active harmful tax countries or jurisdictions including Benelux, Ireland, Malta, Cyprus, Switzerland, British channel islands,  US Delaware, Singapore or  Hong-Kong. Even Bermuda, that hosts the Paradise’s offshore services firm Appleby, did not make it to the list.

Jan Willem Goudriaan, General Secretary of EPSU, said “This tax havens list is a big sham. EU Finance Ministers have failed to agree a  coherent and transparent blacklist with deterring sanctions to make it effective. Coupled with the cuts in corporate taxes in many EU countries, today’s decision means that tax competition in and outside Europe will continue to run the show at the expense of workers’ wages and quality public services. 

It also means that trade unions, NGOs, investigative journalists and whistleblowers will need to  continue to do the transparency job that governments are not willing to do.”

Nick Crook, head of international for the UK's largest public services trade union UNISON said: “It’s disappointing that this list fails to name some of the world’s biggest tax haven offenders. The international community needs to do much more to tackle tax avoidance, and offshore tax scams that are happening on a grand scale. The richest individuals in our society should be making the biggest contribution to our public services –  not hiding money abroad, and shirking their obligations”

On the international scene, as tax rules for the digital economy are being discussed, this list is a sign that the  EU is losing its credibility on fair tax.

EPSU is the European Federation of Public Service Unions. It is the largest federation of the ETUC and comprises 8 million public service workers from over 260 trade unions; EPSU organises workers in the energy, water and waste sectors, health and social services and local, regional and central government, in all European countries including the EU’s Eastern Neighborhood. EPSU is the recognized regional organization of Public Services International (PSI). For more information please go to: http://www.epsu.org

EU-Digest

Brexit Britain and EU fail to strike Brexit talks deal

he UK and EU have failed to reach an agreement to move to the next stage of Brexit talks, Theresa May has said.

The prime minister said talks would reconvene "before the end of the week" and she was "confident we will conclude this positively".

The talks are understood to have broken down after the Democratic Unionist Party refused to accept concessions on the Irish border issue.

Downing Street said that was not the only outstanding problem.

Irish Prime Minister Leo Varadkar said a deal had been done, but the UK appeared to change its mind over the Irish border question after pressure from the DUP.

"I am surprised and disappointed that the British government now appears not to be in a position to conclude what was agreed earlier today," he told a press conference in Dublin.T

Read more: Britain and EU fail to strike Brexit talks deal - BBC News

EU: R&D expenditure remained stable in 2016 at just over 2% of GDP

R&D is a major driver of innovation, and R&D expenditure and intensity are two of the key indicators used to monitor resources devoted to science and technology worldwide. In 2016, the Member States of the European Union (EU) spent all together over €300 billion on Research & Development (R&D). The R&D intensity, i.e. R&D expenditure as a percentage of GDP, remained stable at 2.03% in 2016. Ten years ago (2006), R&D intensity was 1.76%. With respect to other major economies, R&D intensity in the EU was much lower than in South Korea (4.23% in 2015), Japan (3.29% in 2015) and the United States (2.79% in 2015), while it was about the same level as inChina (2.07% in 2015) and much higher than in Russia (1.10% in 2015) and Turkey (0.88% in 2015). In order to provide a stimulus to the EU’s competitiveness, an increase by 2020 of the R&D intensity to 3% in the EU is one of the five headline targets of the Europe 2020 strategy. The business enterprise sector continues to be the main sector in which R&D expenditure was spent, accounting for 65% of total R&D conducted in 2016, followed by the higher education sector (23%), the government sector (112%) and the private non-profit sector (1%). This information on Research and Development in the EU is published by Eurostat, the statistical office of the European Union. EU-Digest

US Economy: Tax bill approved by Republican Senate majority: US Students, Middle Class Citizens getting the shaft in this new Tax Plan, which adds trillions to the National Debt

The U.S. Senate narrowly approved a tax overhaul, moving Republicans and President Donald Trump a big step closer to their goal of slashing taxes for businesses and the rich while offering everyday Americans a mixed bag of changes and addiding trillions to the National Debt.

Trump who is getting closer and closer to being linked to the Russian  probe now that his former security advisor Flint is starting to spill the beans  tweeted early in the morning: “We are one step closer to delivering MASSIVE tax cuts for working families across America,”

The Senate approved their bill in a 51-49 vote with Democrats complaining that last-minute amendments to win over skeptical Republicans were poorly drafted and vulnerable to being gamed later by lawyers and accountants in the tax avoidance industry. 

“The Republicans have managed to take a bad bill and make it worse,” said Senate Democratic leader Chuck Schumer. “Under the cover of darkness and with the aid of haste, a flurry of last-minute changes will stuff even more money into the pockets of the wealthy and the biggest corporations.” 

The framework for both the Senate and House bills was developed in secret over a few months by a half-dozen Republican congressional leaders and Trump advisers, with little input from the party’s rank-and-file and none from Democrats. 

EU-Digest

Germany Facing a Return to the Grand Coalition

On Thursday, German President Frank-Walter Steinmeier received the two party leaders for a long discussion, but even in the days leading up to that meeting, it had become clear that the two were eagerly burying the hatchet to lay the groundwork for a possible coalition. Schulz and Merkel, together with Horst Seehofer, who leads the Bavarian conservatives, now intend to explore the possibility of slapping together another governing coalition - the same "grand coalition" that voters so clearly rejected in the general election in late September.

As a group, Germans are thought to value political stability. But a repeat of the SPD-conservative coalition is the kind of stability that wouldn't be good for the country. The last four years have shown that a grand coalition is a static alliance, one that is good at spending money but not as adept at moving projects forward - aside from the project of right-wing populism, of course.

Deputy SPD head Olaf Scholz said recently that a rebirth of the grand coalition would "have negative consequences for our democracy." It would also mean that the right-wing populist Alternative for Germany (AfD) would be the strongest party in opposition. That means it would always have the privilege in parliament of delivering the first rebuttal to Merkel's speeches.

Nevertheless, for the leaders of the parties involved, a grand coalition isn't completely unattractive
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For Merkel, it represents the best opportunity to secure her power, a motive that has long been important to her. And SPD head Martin Schulz already seems to be practicing the arguments he hopes to use at next week's party congress to convince unwilling delegates of the utility of another alliance with Merkel's conservatives.

Read more: Germany Facing a Return to the Grand Coalition - SPIEGEL ONLINE

11/30/17 Spain - Economy: Barcelona port container traffic rises by historic 36%

The third quarter of 2017 was the best ever seen for container traffic for the Barcelona port, which grew by 36.8%.

Total port traffic surged by 31.2%. The port authority said that the increase was due to a sharp acceleration in traffic that began in early 2017. Container traffic rose by 31% from January to September: a total of over 2.2 million TEU.

All cargo transport sectors did well during the quarter, with trans-shipment rising by a whopping 129.8%. Foreign trade continued growing, with imports up by 9.3% (434,146 TEU) and exports by 3.5% (523,326 TEU). As concerns markets,

Asian countries saw the most growth in trade, especially the UAE at +11.3%. Trade with China also rose (+9.6%) as well as with South Korea (+14.2%), India (+13%), Japan (+10%) and Vietnam (+6.2%). Growth in ro-ro (ferry) traffic rose, which affects trade especially with Italy and North Africa, rising by 6% in the first nine months of the year.

Passenger traffic rose by 2.7% in the nine months in question at the Barcelona port, with a surge in passengers on ferries from Italy, the Balearic Islands and North Africa, rising by 11.4%. The number of cruise ships docking at the port fell by 1.9%.

EU-Digest

U.S. Economic Forecast: Growth of the economy to continue through 2018

For the first time since the middle of 2014, the US economy has sustained 3 percent growth for two consecutive quarters, providing strong momentum into next year. The current Conference Board forecast calls for 2.8 percent growth during the final quarter of 2017 and 2.5 percent growth in 2018.

This would represent the economy’s best 2-year run since 2005.

Business investment has awakened from the doldrums this year, rising by more than 4 percent after falling into negative territory in 2016. Confidence in the manufacturing sector has been especially strong.

The composition of growth supports a long-term improvement in productivity. Capital equipment has risen at an 8.7 percent annual rate during the past two quarters, while investment in warehouse structures is up more than 20 percent since the end of last year. These investments demonstrate a renewed firm commitment to increased efficiency.

Consumer spending eased a bit in the third quarter, but with The Conference Board’s Consumer Confidence Index still strong and housing prices rising, expect a robust holiday season.

One encouraging sign was the pickup in motor vehicle spending thanks to renewed demand following the two hurricanes. Should employment growth rebound quickly from last month’s storm related decline, tighter labor markets should translate into a renewed wage acceleration which could boost spending late this year or into 2018. The possibility of federal income tax cuts could do the same.

The economy enters 2018 in good position to maintain strong growth from 2017.

Current Fed chair Janet Yellen and new Fed chair nominee Jerome Powell may raise rates slightly faster as a result. These expectations have led long-term rates to rise modestly.

The dollar has also started strengthening since early September after weakening through much of 2017, creating less favorable terms of trade. Higher capital costs and the possibility of a less supportive external environment for growth have not rattled the market yet.

With growth prospects strong for 2018, profits should grow robustly as well, rewarding those businesses that increase investment levels.

Read more: U.S. Forecast | The Conference Board

USA: SHOP TILL YOUR TABLET RUNS OUT OF JUICE: Cyber Monday was largest online shopping day in US history - by Lauren Thomas

Digital transactions on Monday reached a record $6.59 billion, Adobe Insights unveiled Tuesday in its final update on the holiday weekend.

That marks a 16.8 percent increase from a year ago, and makes Monday the largest online shopping day in U.S. history.

Mobile also had a record day, Adobe found, saying smartphones have become the "de facto device" for on-the-go shopping. Mobile sales on Cyber Monday reached $2 billion for the first time.

"This year, mobile shopping was dominant both in the morning and afternoon, and desktop only staged a comeback in the evening when people were home," Taylor Schreiner, director of Adobe's Digital Insights division, said.

Adobe measures 80 percent of online transactions from 100 major U.S. retailers.

European Health Systems: Not enough prevention: EU health systems report

Only 3 per cent of EU countries' health budgets is spent on prevention, with 80 per cent spent on treatment of diseases, the EU Commission reported on Thursday in a set of 28 'country health profiles'.

The reports, along with a 'companion report', suggest a rethinking of European health systems is needed to 'ensure they remain fit-for-purpose and provide patient-centred care'
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"We need better access to primary care so that the emergency room isn't people's first port of call," said Health Commissioner Vytenis Andriukaitis: "And we need to enshrine health promotion and disease prevention into all policy sectors to improve people's health and reduce pressure on health systems."

The reports provide an in-depth analysis of EU Member States' health systems.

Read more: Not enough prevention: EU health systems report — EUbusiness.com | EU news, business and politics

Global Military Spending: Which country spent the most on its military last year?

US military spending in 2016 topped that of China, Russia, Saudi Arabia, India, France, UK, Japan, Germany and South Korea combined 

Global military spending in 2016 totalled $1.69 trillion, according to the SIPRI.

The top 10 countries accounted for 73 percent of this total, they were: The USA, China, Russia, Saudi Arabia, India, France, UK, Japan, Germany and South Korea.

US military spending surpassed that of the other top eight countries combined, with the rest of making up only 27 percent of the figure.

Note EU Digest: This is scandalous with so many people living in poverty around the world. Bottom line: use of weapons creates only more chaos and disaster. 

Read more: Which country spent the most on its military last year? | Euronews