2024-02-25 11:08

MEXICO CITY, Feb 25 (Reuters) - Every spring, the streets of Mexico's capital are painted purple with the flowering of thousands of jacaranda trees. Their spectacular colors not only attract the eyes of residents and tourists, but also birds, bees and butterflies that find food and shelter in them. But this year something changed. Some jacarandas began blooming in early January, when they normally awaken in spring. The early onset bloom has set off alarm bells among residents and scientists in Mexico City, where the trees have become an iconic, photogenic mainstay of city streets. Local scientists have begun investigating how widespread the early-bloom phenomenon is, but they point to climate change as the first culprit. "We've always seen the jacaranda beginning to bloom towards the end of March, in spring, when we see the flowers change to violet," said Constantino Gonzalez, a researcher at the Institute of Atmospheric Sciences and Climate Change Research at the National Autonomous University of Mexico (UNAM). "They are starting to flower in January, February, which is winter, when it is not yet their time," said the biologist of 48 years. Gonzalez explained that in order to draw a correlation between climate change and the early flowering of jacarandas his team needs a representative sample and compare blooms year to year. To do this, he has started to lead a group of young people who are collecting data throughout the city and using satellite imagery. He noted rising temperatures caused winter in the Mexican capital to end early this year, in mid-January, instead of late March when it is supposed to end. ADAPTATION Enthralled by the Japanese cherry trees that cover Washington, D.C. in pink and white every spring, Mexican President Pascual Ortiz (1930-1932) set out to replicate the same landscape in his nation's capital. But Tatsugoro Matsumoto, a Japanese landscape architect who settled in Mexico in the late 19th century, told him they would not survive the city's temperate climate for long, so he advocated for jacarandas, a tropical tree he had learnt about during a brief stay in Peru. Since then, the tree has become a staple for Mexico City's nine million inhabitants. In January alarm spread when users on social networks started to publish photos of flowering jacarandas and began to wonder about the effects of climate change. "Like never before (...) people have started to say 'this is serious, it's real' and it's no longer just a polar bear floating adrift'," said Cristina Ayala, biologist and doctor in Sustainability Sciences. "It is very good that people are beginning to become aware of what climate change is going to bring to us as urbanites," she added. Although they are not native to Mexico, for Ayala, jacarandas fulfill an important function for the city. They attract more hummingbirds and bees than many native trees, so a change in flowering could lead to a decrease in these populations. "One would like the jacarandas to bloom all year round, they brighten the city," said Alex Estrada, a resident of the Mexican capital, while observing a tree that was beginning to turn purple. "But something is not right here: jacarandas in winter?" he wondered. https://www.reuters.com/business/environment/early-jacaranda-bloom-sparks-debate-about-climate-change-mexico-2024-02-25/

2024-02-25 07:47

Qatar among world's top LNG exporters Overall expansion now an increase of 85% in production Europe will continue to need gas for "a long time" - Kaabi Asian gas market driven by population Further expansions of Qatari production not ruled out DOHA, Feb 25 (Reuters) - Qatar will raise natural gas production despite a recent steep drop in global prices, in a long-term bet on rising demand for the less polluting fuel in Europe and Asia. QatarEnergy chief Saad al-Kaabi said on Sunday a new expansion of its liquefied natural gas (LNG) production will add 16 million metric tons per year to its expansion plans, bringing total capacity to 142 million tons per year (tpy). The Qatari announcement comes as Asian LNG prices have recently collapsed to a nearly three-year low as higher-than-usual temperatures during the Northern Hemisphere winter have slashed demand. LNG is gas that is super-cooled to a liquid, which reduces its volume to allow for transport by ship. Asian and European gas prices surged to a record in 2022 following Russia's invasion of Ukraine and the subsequent cutoff of Russian gas supplies to Europe. Amid the price surge, U.S. gas suppliers filled the supply vacuum, establishing themselves as the world's biggest LNG exporter in 2023, surpassing Qatar, though Qatari supplies also helped to replace the volumes. The Qatari announcement also follows a decision from U.S. President Joe Biden to pause approvals for applications for new LNG export terminals for environmental reviews, prompting warnings from gas importers that the move would compromise future energy security worldwide. In the announcement, Kaabi said Asian gas markets would continue to grow and Europe would still need more gas for the foreseeable future. "We still think there's a big future for gas for at least 50 years forward and whenever we can technically do more, we'll do more," he said at a news conference in Doha. "We see that Europe is going to need gas for a very, very long time. But the growth in Asia is definitely going to be bigger than the growth in Europe, basically driven by population growth." With this added boost, output from Qatar's North Field will rise from 77 million tpy of LNG currently to 142 million tpy by 2030, an 85% increase in production. Even as prices have dropped, major gas producers such as the U.S., Australia and Russia are seeking to increase output, betting on further demand growth and to profit from their gas supplies amid worries that it might not be needed decades from now if the energy transition makes green energy cheaper. This latest expansion may not be the last for Qatar as Kaabi said appraisals of its gas reservoirs would continue and production would be further expanded if there is a market need. BEARISH CYCLE Analysts at Goldman Sachs said in a note on Sunday the Qatari expansion will extend the "bearish cycle" they see for LNG markets for the second half of this decade. New global capacity expected to come by the end of the decade is equal to half of the global LNG supply in 2023, they said. The "oversupply will in our view lead to increasing risks, especially from 2026, when we expect the Qatari expansion to start to come online, that global gas prices decline to supply cash costs, potentially leading to the cancellation of U.S. LNG exports, much like in 2020," they said. But, they said, Qatar benefits from the expansion announcement since it is a low-cost LNG supplier and it adds to the image of Qatar as a dependable supplier, especially after the U.S. pause was announced. State-owned QatarEnergy has already signed some supply deals with European and Asian partners for the North Field expansion project, which was expected - prior to Sunday's announcement - to begin producing 126 million tpy of LNG per annum by 2027, from the current 77 million tpy. Exploration activities in the west of the North Field prompted the company's decision to expand further. Kaabi did not give a cost for the project but said it would be in the billions of dollars. "We will start preliminary engineering studies for the project and then at the right time we will announce how much is the cost when the project is settled." In December, Kaabi told Reuters that QatarEnergy had been drilling wells to assess expansion opportunities beyond the North Field East and North Field South phases. This latest expansion will require the construction of two LNG trains, in addition to six already underway for the earlier expansions. On partnerships for the new trains, Kaabi said QatarEnergy will go ahead and begin the engineering phase of this project on its own without seeking partners and then take a decision on partnerships later. The North Field is part of the world's largest gas field which Qatar shares with Iran, which calls its share South Pars. https://www.reuters.com/business/energy/qatarenergy-set-further-expand-lng-output-north-field-2024-02-25/

2024-02-25 03:34

Feb 25 (Reuters) - AT&T (T.N) , opens new tab will credit customers a full day of service for the carrier's more than 10-hour outage on Thursday that affected more than 70,000 users, saying it was the "right thing to do." "I believe this approach is fully manageable while achieving the 2024 business objectives we have set for ourselves and our stated financial guidance," CEO John Stankey told employees in a letter. Service was restored late on Thursday on AT&T's 5G network which covers around 290 million people across the United States. An initial review found the outage was caused by the application and execution of an incorrect process used while working to expand the network, the company said, ruling out a cyberattack. "Outages sometimes have outsized impacts on some subscribers that may be greater than the face value of the credit," Stankey said. "For that reason, I believe that crediting those customers for essentially a full day of service is the right thing to do." The credit will be applied automatically, while prepaid customers will have options available if they were affected, he added. An AT&T spokesperson on Sunday declined to say how many customers would get the billing credit or how much it would cost the company. AT&T said it will work with Mid-Market and Enterprise customers to address their concerns. The Federal Communications Commission said on Thursday it was investigating the incident. The U.S. Cybersecurity and Infrastructure Security Agency is working with AT&T to understand the cause. https://www.reuters.com/business/media-telecom/att-give-billing-credits-consumers-impacted-by-outage-2024-02-25/

2024-02-25 03:20

SYDNEY, Feb 25 (Reuters) - Australia's Prime Minister Anthony Albanese pledged on Sunday to provide whatever support was needed to assist Victoria state in a days-long wildfire emergency that has razed homes after authorities warned extreme heat could fan the blazes this week. "We will provide whatever support is requested from Victoria," Albanese told reporters in the city of Frankston, Victoria, according to a transcript. "It's a reminder of the need for us to be vigilant for us to continue to work and act on the threat that is climate change." The emergency has killed livestock, destroyed six homes and forced more than 2,000 people to leave western towns and head to the city of Ballarat, 95 km (60 miles) west of the state capital, Melbourne. Australia is in the grips of an El Nino weather pattern, which is typically associated with extreme phenomena such as wildfires, cyclones and droughts. More than 15 bushfires were burning in Victoria on Sunday, with the most serious blaze, ranked at the second highest danger rating, near several remote towns, according to the state's emergency authority. State authorities have said there are concerns about the weather this week particularly Wednesday into Thursday when extreme heat is forecast that could further fan the fires. Around 1,000 firefighters supported by more than 50 aircraft have battled the fires since they started. The last two bushfire seasons in Australia have been subdued compared with the 2019-2020 "Black Summer", when bushfires destroyed an area the size of Turkey, killing 33 people and an estimated 3 billion animals. https://www.reuters.com/business/environment/australian-homes-destroyed-bushfires-extreme-heat-ahead-2024-02-25/

2024-02-24 23:21

CAIRO, Feb 25 (Reuters) - Yemen's Houthis targeted MV Torm Thor, a U.S.-flagged, owned, and operated oil tanker, in the Gulf of Aden, the Iran-aligned group's military spokesman Yahya Sarea said on Sunday, as the militants continue to attack shipping lanes in solidarity with Palestinians in Gaza. The group targeted the tanker with "a number of appropriate naval missiles," Sarea added in a televised speech. The U.S. Central Command (CENTCOM) said the USS Mason, a guided missile destroyer, on Saturday shot down one anti-ship ballistic missile launched into the Gulf of Aden from Houthi-controlled areas in Yemen that was likely targeting the tanker. Neither the USS Mason nor MV Torm Thor were damaged and there were no injuries, CENTCOM added in a statement. The Houthis, who control the most populous parts of Yemen, have launched exploding drones and missiles at commercial vessels since Nov. 19 as a protest against Israel's military operations in Gaza. The U.S. and Britain have launched strikes on Houthi targets in Yemen and redesignated the militia as a terrorist group. The turmoil from Israel's war with the Palestinian Islamist group Hamas has spilled over to some extent into other parts of the Middle East. Apart from the Houthi attacks on vital shipping lanes, Lebanon's Iran-backed Hezbollah group has traded fire with Israel along the Israel-Lebanon border and pro-Iran Iraqi militia have attacked bases that host U.S. forces. https://www.reuters.com/world/middle-east/yemens-houthis-target-fuel-tanker-torm-thor-gulf-aden-2024-02-24/

2024-02-24 18:49

Feb 24 (Reuters) - Warren Buffett left no doubt: He misses Charlie Munger, and so will Berkshire Hathaway's (BRKa.N) , opens new tab shareholders. Buffett on Saturday devoted a special section of his annual shareholder letter , opens new tab to Munger, who died in November at age 99. The 93-year-old Buffett called his long-time business partner a key driver behind what has become his more than $900 billion, Omaha, Nebraska-based conglomerate. "Charlie was the 'architect' of the present Berkshire, and I acted as the 'general contractor' to carry out the day-by-day construction of his vision," Buffett wrote. Jim Shanahan, an Edward Jones analyst who covers Berkshire, called that a "profound compliment" from arguably the world's most revered investor. "Buffett gave Charlie Munger a lot of credit for Berkshire's success and his personal success," he said. "Without his wisdom and guidance, Buffett wouldn't have been as successful as he has been." Munger's death deprived Buffett of his closest confidante of more than 60 years, the last 45 as a Berkshire vice chairman. The two grew up at the same time in Omaha, though Buffett did not meet Munger until 1959. Under their leadership, Berkshire became the owner of dozens of businesses such as Geico insurance and the BNSF railroad and holder of more than $350 billion in stocks led by Apple (AAPL.O) , opens new tab. Munger was known for his common-sense, witty and occasionally acerbic maxims. "Envy is a really stupid sin," he said in 2003, "because it's the only one you could never possibly have any fun at." But he also became known as the person who changed Buffett's attitude toward investing. Buffett credited Munger with convincing him to buy "wonderful companies at fair prices instead of fair companies at wonderful prices" -- the latter of which Buffett has referred to as "cigar butts" because their businesses might still contain puffs of smoke. Calling him Berkshire's "architect" alluded to Munger's passion for architecture, including designing buildings. Buffett also recalled Munger's relative modesty, saying Munger was okay with letting him "take the bows and receive the accolades" while serving more as an older brother or loving father. One place Munger shared the stage was at Berkshire's annual meeting, where he and Buffett would sit before tens of thousands of shareholders -- and millions more online -- fielding shareholder questions and often finishing each other's thoughts. Munger's death means Buffett will likely share the stage at this year's May 4 annual meeting only with Vice Chairman Greg Abel, who is slated to eventually become chief executive, and Vice Chairman Ajit Jain. James Armstrong, who leads Henry H Armstrong Associates in Pittsburgh and has owned Berkshire stock for more than 35 years, said Buffett's letter was an apt epitaph for Munger and what he meant to Berkshire. "Charlie's impact was huge," he said. "It may not have been understood by the public, but it is now." https://www.reuters.com/business/warren-buffett-mourns-passing-berkshire-architect-charlie-munger-2024-02-24/