Archaeologists find possible artefacts of oldest known Wallacean hominids in Indonesia
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01:32
10/08/2025
China aims to lead in AI and robotics at Beinjing World Robot Conference
Asia / Pacific
10/08/2025
The race for robot supremacy: Beijing conference highlights China's push for innovation
Asia / Pacific
07/08/2025
'Highest tariffs since Great Depression': In 1930's, trade plummeted and global depression deepened
Americas
07/08/2025
EU faces major export decline amid sluggish growth in key member states
Americas
06/08/2025
Nuclear weapons states no longer respect 'legal commitment to non-proliferation treaty'
Asia / Pacific
06/08/2025
'The memories of the horrors of nuclear war and radiation seem to be lost on today's leaders'
Asia / Pacific
05/08/2025
Japan: Fire during fireworks show forces five men into the sea
Asia / Pacific
05/08/2025
'Contradictions in objectives' of Chinese Studies Dept & what China would like UK schools to project
UK
05/08/2025
East Asia Hit by Record-Breaking Torrential Rains and Mass Evacuations
Asia / Pacific
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Euronews
2 hours ago
- Euronews
Global plastics treaty talks stall as deadline approaches
Negotiators working on a treaty to address global plastic pollution discussed a new draft of the text on Wednesday that wouldn't limit plastic production or address chemicals used in plastic products. Talks stalled just one day before they are due to end after countries with very divergent views expressed disappointment with the draft. It could change significantly, and a new version is expected on Thursday, the last scheduled day of the negotiations. 'Unbalanced' or a 'good enough' starting point? When they convened on Wednesday night, Colombia's delegation said that the text was entirely unacceptable because it was unbalanced and lacked the ambition and global obligations needed to end plastic pollution. The delegation said that it wouldn't accept the wording as the basis for negotiations. The head of Panama's delegation to the talks, Juan Carlos Monterrey Gómez, stood up and cheered. Many delegations made statements to agree, including Mexico, Chile, Ghana, Canada, Norway, the United Kingdom, the European Union and the group of small island developing states. "We have made clear that the text on the table is not acceptable for the EU," European Commissioner for Environment, Water Resilience, and a Competitive Circular Economy, Jessika Roswall, said. EU representative Magnus Heunicke said in a post on social media that the text "doesn't meet the minimum needed to respond to the huge plastic challenge". 'Let me be clear, this is not acceptable for future generations,' said Erin Silsbe, representing Canada. Oil- and gas-producing nations raised other concerns, with Saudi Arabia, Kuwait, Qatar and others saying that the draft doesn't have the scope they want to set the parameters of the treaty or precise definitions. The United States said that six articles crossed red lines, but didn't say how. India's delegation, on the other hand, said that the draft is a 'good enough starting point.' What was included in the treaty draft? The draft contains one mention of plastic production in the preamble, reaffirming the importance of promoting sustainable production and consumption of plastics. It doesn't contain an article on production from a previous draft. There is no mention of chemicals. The new provisions seek to reduce the number of problematic plastic products that often enter the environment and are difficult to recycle, and promote the redesign of plastic products so that they can be recycled and reused. Parties to the treaty would improve their waste management. Luis Vayas Valdivieso, the chair of the negotiating committee, drafted the document based on the views expressed by nations throughout the negotiations. He told them that he did it to move them closer to a legally-binding instrument, and they can shape and improve it, as well as add and delete wording. With little time left, he said, it's time to build bridges, not dig in over red lines. David Azoulay, Head of the delegation for the Centre for International Environmental Law, said the text makes "a mockery of a three-year-long consultative process" - one that included board support for a treaty addressing the full lifecycle of plastics. "This is a treaty that all but ensures that nothing will change. It gives in to petrostate and industry demands with weak, voluntary measures that guarantee we continue to produce plastic at increasing levels indefinitely, fail to safeguard human health, endanger the environment, and damn future generations," he adds. "It will be very difficult to come back from this, and we encourage Member States to reject the text." What is blocking progress on the plastics treaty? The biggest issue of the talks has been whether the treaty should impose caps on producing new plastic or focus instead on things like better design, recycling and reuse. Around 100 countries want to limit production as well as tackle cleanup and recycling. Many have said it's essential to address toxic chemicals. Powerful oil and gas-producing nations and the plastics industry oppose production limits. They want a treaty focused on better waste management and reuse.
Euronews
4 hours ago
- Euronews
Europe's wealth: Which nations hold the biggest share?
Did you know EU countries hold only 16.6% of the world's personal wealth? In Europe, this rises to 22.3% when four more countries are included. The US holds more than a third, and China about a fifth. Together, these two powers control 54% of world's wealth according to UBS's Global Wealth Report 2025. The UBS report covers 56 countries and markets, representing over 92% of global wealth. But which European countries hold the largest shares of the world's personal wealth? And what is the total personal wealth of each country? Euronews Business takes a deep dive. Where in Europe holds the largest share of the world's personal wealth? According to the report, global personal wealth reached $471 trillion (€435 trillion) by the end of 2024. The US holds the largest share at 34.7% (€150.9 trillion), followed by China with 19.4% (€84.2 trillion). Japan ranks third with 4.5% (€19.7 trillion). Europe—including the EU, UK, Switzerland, Norway, and Turkey—holds 22.3% of global personal wealth. In Europe, the UK holds the highest share of global personal wealth at 3.84%, closely followed by Germany at 3.76%. France is not far behind with a 3.3% share. Italy (2.25%) and Spain (1.95%) complete the top five in Europe. Not surprisingly, Europe's five largest economies take the top five spots on this list. China larger than Europe's top five combined The combined share of Europe's top five economies (15.1%)—France, Germany, Italy, Spain and UK—is still significantly behind China's share of global personal wealth (19.4%). The Netherlands (1.14%) and Switzerland (1.04%) each hold shares above 1%. The global wealth shares of other European countries are far below this threshold. Nineteen out of 31 countries have shares of less than 0.4%. For several countries, the global wealth share is below 0.1%. They included Luxembourg, Bulgaria, Slovakia, Slovenia, Lithuania, Latvia, Cyprus, Estonia and Malta. In nominal terms, the UK holds €16.7 trillion in personal wealth, followed by Germany (€16.4 trillion) and France (€14.3 trillion). No other European country exceeds the €10 trillion mark. Country totals, not wealth per person It is important to note that these figures show total wealth and national shares. They do not indicate which countries are richer or wealthier at the individual level. Wealth per adult is the measure used for that comparison. In general, countries with higher gross domestic product (GDP) tend to have larger shares of global personal wealth, as shown by the top five European economies. While GDP levels vary greatly, this pattern also applies to several other countries. As for why the US and China hold more than half of global wealth, the report notes: 'A combination of high wealth per adult and a large population makes the US stand out by holding almost 35% of the entire wealth measured in USD. Mainland China, thanks to its large population, holds almost 20% of personal wealth.' Wealth rises in Eastern Europe, declines in the west The overall global increase was faster than the previous year, rising from 4.2% to 4.6% in USD terms. But global wealth growth was uneven, as the total hides clear differences between regions. Eastern Europe recorded the largest jump in total personal wealth in 2024—over 12% increased compared with 2023, slightly ahead of North America. It added 28,000 new millionaires, a 2.9% increase, making the region a strong engine of growth. Total personal wealth in Greater China grew by 3.4% from 2023 to 2024, outpacing Southeast Asia's 2.7%. The Middle East & Africa rose 4.2%, making it the only other region with positive growth. Western Europe and Oceania (both -1.5%) and Latin America (-4.3%) all saw declines, after adjusting for population size. What is personal wealth? Wealth or net worth is defined as the value of financial assets and real assets (principally housing) owned by private individuals, less their debts according to the report. Private pension fund assets are included, but not entitlements to state pensions. Wealth per adult rose in most European countries between 2023 and 2024, though a few saw declines. The Euronews article 'Where in Europe did people's net worth increase the most?' shows how this changed at the personal level. Meanwhile, the richest 10% in the eurozone held 57.3% of total net household wealth in the final quarter of 2024, you can read more on how wealth inequality varies widely across Europe here.
Fashion Network
15 hours ago
- Fashion Network
Lenzing sees sales and profits rise in first half of the year
Despite new trade tariffs and numerous other burdens, Lenzing was once again able to increase sales and profits in the first half of the year. The Austrian fibre manufacturer generated sales of 1.34 billion euros in the first half of the year, exceeding levels reached during the same period last year. EBITDA increased by 63.3% to 268.6 million euros during the six months. The sale of EU emission certificates amounting to 30.6 million euros also contributed to the increase. The business' bottom line was a profit of 15.2 million euros following a loss of 65.4 million euros. The textile group is maintaining its outlook and expects EBITDA for the year as a whole to be higher than in the previous year. " Lenzing made further progress on the road to operational recovery in the first half of 2025," said CEO Rohit Aggarwal. The ongoing cost-cutting program, which has already saved costs of over 130 million euros in 2024, contributed to this. However, market prices for fibres remained at a low level, while costs for raw materials, energy, and logistics remained high. "At the same time, we are seeing noticeable effects of the increasing uncertainties in international trade in the second quarter - particularly as a result of aggressive customs policies," the manager conceded. The customs measures and resulting uncertainty had led to noticeable burdens along the textile value chain and slowed down the recovery. These developments would have a negative impact on business prospects and earnings. "We are therefore all the more determined to continue our measures to secure the turnaround in the long term and further strengthen our margins."
