Protesters demand debt cancellation, climate action ahead of UN summit
SEVILLE, Spain (Reuters) -Activists marched in blistering heat through southern Spain's Seville on Sunday, calling for debt cancellation, climate justice and taxing the super rich on the eve of a UN summit on financing development that critics say lacks ambition and scope.
The four-day meeting - held once every decade - promises to take on poverty, disease and climate change by mapping out the global framework for development. But the United States' decision to pull out and wealthy countries' shrinking appetite for foreign aid have dampened hopes that the summit will bring about significant change.
Greenpeace members carried a float depicting billionaire Elon Musk as a baby wielding a chainsaw, seated atop a terrestrial globe. Others held up banners reading "Make Human Rights Great Again", "Tax justice now" or "Make polluters pay".
Beauty Narteh of Ghana's Anti-Corruption Coalition said her group wanted a fairer tax system and "dignity, not handouts".
Sokhna Ndiaye, of the Africa Development Interchange Network, called on the public and private sectors to be "less selfish and show more solidarity" with developing countries.
Hours earlier, however, Spanish Prime Minister Pedro Sanchez said that "the very fact that this conference is happening while conflict is raging across the globe is a reason to be hopeful".
Speaking at an event by non-profit Global Citizen, Sanchez reiterated Madrid's commitment to reach 0.7% of GDP in development aid and urged other countries to do the same.
Jason Braganza, executive director of pan-African advocacy group AFRODAD who took part in the year-long negotiation on the conference's final outcome document, said countries including the U.S., the European Union and Britain had obstructed efforts to organise a UN convention on sovereign debt.
"It's a shame these countries have opted to protect their own interests and those of creditors over lives that are being lost," he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
41 minutes ago
- Yahoo
Amine Adli to Bournemouth is considered a ‘done deal'
Bournemouth are set to complete the signing of Bayer Leverkusen attacker Amine Adli (25). According to , the Moroccan's move to the Premier League club is considered a 'done deal' after both parties reached an agreement for a €30m transfer. Bournemouth will pay an initial €21m plus €9m in add-ons, some of which may be unachievable. Plettenberg further reports that a realistic total is around the €27m fee. Bayer Leverkusen have also given the green light for Adli to undergo a medical. The former Toulouse player – who also had interest from Sunderland and Marseille – has already provided one assist for B04 this season during their DFB Pokal win against Sonnenhof Großaspach. Adli's move to Bournemouth comes just hours after it was reported that the Bundesliga side are closing on an agreement with Manchester City to sign Argentine midfielder Claudio Echeverri on a season-long loan without an option to buy, beating Borussia Dortmund to sign the 19-year-old. GGFN | Daniel Pinder
Business Insider
an hour ago
- Business Insider
'Don't Hold Your Breath!' Tesla's (TSLA) Elon Musk Casts Doubt on U.S. Launch of New Model Y L
Tesla (TSLA) recently launched Model Y L, a longer, six-seater version of its best-selling electric SUV, in China. However, CEO Elon Musk has cast doubt on its availability in the United States. The decision is tied to the company's focus on autonomous driving technology. TSLA stock was down about 3% on Wednesday. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. On his social media platform, X, Musk suggested that the Model Y L might not ever be produced for the U.S. market. 'This variant of the Model Y doesn't start production in the US until the end of next year. Might not ever, given the advent of self-driving in America,' he wrote. This reflects Tesla's growing strategy of prioritizing autonomous driving technology over expanding its lineup of human-driven vehicles. Why Tesla Might Skip the U.S. Market Tesla's decision not to prioritize U.S. production of the Model Y L stems from its belief that full autonomy is approaching rapidly. Musk has long argued that building traditional vehicles will become 'pointless' in a self-driving future. TSLA is currently scaling its robotaxi operations, including a limited service in Austin, and plans to launch the Cybercab, a steering-wheel-free autonomous vehicle, next year. This shift raises questions about Tesla's product roadmap as the six-seat Model Y L could have attracted American families seeking a more affordable alternative to the Model X. Model Y L Success in China Priced at about $47,200, the vehicle is built at Tesla's Giga Shanghai factory. The model is equipped with a longer wheelbase, captain's chairs, and a spacious third row, features tailored to Chinese families. Also, it offers Tesla's Full Self-Driving (FSD) capabilities. Importantly, it attracted over 40,000 reservations following the launch, signaling strong demand among Chinese consumers. The launch in China comes as Tesla faces intense competition from local EV manufacturers such as BYD (BYDDF), Xiaomi (XIACF), and XPeng (XPEV). China's EV market is more advanced and highly competitive, with local brands rapidly gaining market share by offering affordable cars packed with self-driving and voice control technologies. Overall, the Model Y L's launch in China is a strategic move to regain market share in the world's most competitive EV market. What Is the Prediction for Tesla Stock? Turning to Wall Street, TSLA stock has a Hold consensus rating based on 14 Buys, 15 Holds, and eight Sells assigned in the last three months. At $307.23, the average Tesla price target implies a 4.34% upside potential. The stock has declined 2.5% over the past six months.
Yahoo
an hour ago
- Yahoo
Elon Musk must face lawsuit claiming he ran illegal $1 million election lottery
By Jonathan Stempel (Reuters) -Elon Musk was ordered on Wednesday by a federal judge to face a lawsuit by voters accusing the world's richest person of defrauding them into signing a petition to support the U.S. Constitution for a chance to win his $1 million-a-day giveaway. U.S. District Judge Robert Pitman in Austin, Texas said Jacqueline McAferty plausibly alleged in her proposed class action that Musk and his political action committee America PAC wrongly induced her to provide personal identifying information as part of the giveaway, late in the 2024 election campaign. Lawyers for Musk and America PAC did not immediately respond to requests for comment. Musk founded America PAC to support Republican Donald Trump's successful 2024 presidential run. McAferty, an Arizona resident, said Musk and America PAC induced voters in seven battleground states to sign his petition by promising that $1 million recipients would be chosen randomly, as in a lottery, though the voters had no real chance to collect. She said voters who signed were also required to provide names, addresses, email addresses and phone numbers. In seeking a dismissal, Musk listed several "red flags" as proof he had not run an illegal lottery. He said these included statements that the $1 million recipients were "selected to earn" the money and expected to become America PAC spokespeople, defeating the idea that the payment was a "prize." But the judge cited other statements suggesting the defendants were "awarding" the $1 million, and the money could be "won." "It is plausible that plaintiff justifiably relied on those statements to believe that defendants were objectively offering her the chance to enter a random lottery--even if that is not what they subjectively intended to do," Pitman wrote. The judge was appointed to the bench by President Barack Obama in 2014. Musk had also rejected the suggestion that petition signers suffered harm by providing contact information. Pitman said an expert in political data brokerage could testify what that information was worth for voters in battleground states. The lawsuit was filed on Election Day, Nov. 5, 2024. A day earlier, a Philadelphia judge refused to end Musk's giveaway, saying that city's top prosecutor failed to show it was an illegal lottery. Musk is a Texas resident, and his electric car company Tesla is based in Austin. The case is McAferty v Musk et al, U.S. District Court, Western District of Texas, No. 24-01346. Solve the daily Crossword
