Category: Business

Read time : 3 mins

Level : Intermediate

By FRANK JORDANS Associated Press

BERLIN (AP) — Companies that sell refrigerators, washers, hairdryers or TVs in the European Union will need to ensure those appliances can be repaired for up to 10 years, to help reduce the vast mountain of electrical waste that piles up each year on the continent.

The “right to repair,” as it is sometimes called, comes into force across the 27-nation bloc Monday. It is part of a broader effort to cut the environmental footprint of manufactured goods by making them more durable and energy efficient.
Continue reading

Read time : 3 mins

Level : Intermediate

By ELLEN KNICKMEYER and SETH BORENSTEIN Associated Press

WASHINGTON (AP) — World leaders welcomed the United States’ official return to the Paris climate accord Friday, but politically trickier steps lie just ahead for President Joe Biden, including setting a tough national target in coming months for cutting damaging fossil fuel emissions.

And even as Biden noted the country’s first day back in the climate pact, the globe’s dangerous warming was just one of a long list of urgent problems he raised in a video speech to European leaders on Friday, a month into his administration. Before bringing up climate issues, he touched on the global pandemic, sputtering national economies and tense relations with China, among other matters that threaten to impede and delay tackling the nation’s status as the world’s top carbon polluter after China.

Despite all the other challenges, Biden said, speaking to the Munich security conference, “we can no longer delay or do the bare minimum to address climate change. This is a global existential crisis, and all of us will suffer if we fail.”
Continue reading

Read time : 2 mins

Level : Intermediate

By PAN PYLAS Associated Press

LONDON (AP) — Japanese carmaker Nissan confirmed Friday that it will maintain its operations in Britain in the wake of the post-Brexit trade deal between the country and the European Union.

The news was greeted by British Prime Minister Boris Johnson as a “great vote of confidence.”

The future of Nissan’s car plant in the northeast England city of Sunderland was thrown into doubt in the wake of Britain’s vote to leave the EU in June 2016, a decision that could have led to tariffs and quotas on trade between the two sides.

Continue reading

Read time : 2 mins

Level : Advanced

By DAVID McHUGH AP Business Writer

FRANKFURT, Germany (AP) — With more than a trillion euros in stimulus still in the pipeline to the economy, the European Central Bank left its key bond-purchase program unchanged Thursday as the 19-country eurozone endures a winter economic slowdown due to the pandemic.

Attention will focus on post-decision remarks by bank President Christine Lagarde about the outlook for the recovery in the 19 countries that use the euro currency. The ECB faces potential concerns over political turbulence in heavily indebted Italy, where the government survived a confidence vote this week, and over the stronger euro, which can weigh on exports and growth.

Continue reading

Read time : 2 mins

Level : Advanced

By MICHAEL LIEDTKE AP Technology Writer

SAN RAMON, Calif. (AP) — Netflix’s video streaming service has surpassed 200 million subscribers for the first time as its expanding line-up of TV series and movies continues to captivate people stuck at home during the ongoing battle against the pandemic.

The subscriber milestone highlighted Netflix’s fourth-quarter results released Tuesday. The service added another 8.5 million subscribers during the October-December period, capping Netflix’s biggest year since its inception as a DVD-by-mail service in 1997. Netflix ended the year with nearly 204 million worldwide subscribers.
Continue reading

Read time : 1 min

Level : Intermediate