Latest news with #international
The Guardian
2 hours ago
- Politics
- The Guardian
Countries should keep their statehood if land disappears under sea, experts say
States should be able to continue politically even if their land disappears underwater, legal experts have said. The conclusions come from a long-awaited report by the International Law Commission that examined what existing law means for continued statehood and access to key resources if sea levels continue to rise due to climate breakdown. Average sea levels could rise by as much as 90cm (3ft) by 2100 if climate scientists' worst-case scenarios come true, and recent research suggests they could even exceed projections. This is particularly important for small island developing states because many face an existential threat. But as well as the direct loss of land, rising sea levels cause flooding, threaten drinking water supplies and make farmland too salty to grow on. Having waded through international law and scholarship and analysed state views and practices, legal experts concluded that nothing prevents nations from maintaining their maritime boundaries even if the land on which they are drawn changes or disappears. These boundaries give countries navigation rights, access to resources such as fishing and minerals, and a degree of political control. There is also general agreement that affected nations should retain their statehood to avoid loss of nationality. Legal experts say these conclusions are essential for maintaining international peace and stability. Speaking at the UN Oceans conference in Nice, Penelope Ridings, an international lawyer and member of the ILC, said the commission's work was driven by the 'fundamental sense of injustice' that sea level rise would be felt worst by the most vulnerable states, which had also contributed the least to the problem. Research has found that a third of present-day sea level rise can be traced to emissions from the 122 largest fossil fuel producers and cement manufacturers. The Pacific nation of Tuvalu has been particularly vocal in its concerns. Sea levels on its nine islands and atolls have already risen by 4.8mm and are expected to get much higher over the coming decades. Australia was the first country to recognise the permanence of Tuvalu's boundaries despite rising sea levels. In 2023, it signed a legally binding treaty committing to help Tuvalu respond to major disasters and offering special visas to citizens who want or need to move. Nearly a third of citizens have entered a ballot for such a visa. Latvia followed with a similar pledge of recognition. At the oceans conference, the Tuvaluan prime minister, Feleti Teo, said his citizens were determined to stay on their land for as long as possible. The government has just finished the first phase of a coastal adaptation project, building concrete barriers to reduce flooding and dredging sand to create additional land. Teo noted that the US$40m scheme was 'very expensive' and it had taken years to secure money from the Green Climate Fund. He urged Tuvalu's development partners to be 'more forthcoming in terms of providing the necessary climate financing that we need to be able to adapt. And to give us more time to live in the land that we believe God has given us and we intend to remain on'. Ridings said it was now up to states to take the commission's work forward. Sign up to Down to Earth The planet's most important stories. Get all the week's environment news - the good, the bad and the essential after newsletter promotion Bryce Rudyk, a professor of international environmental law at New York University and legal adviser to the Alliance of Small Island States (Aosis), said the ILC had been very responsive to small states, which have traditionally not had their voices heard in matters of international law but are increasingly at the forefront of legal advances on climate change and marine degradation. In recent years, Aosis and the Pacific Islands Forum have both declared that their statehood and sovereignty, as well as their membership of intergovernmental organisations such as the UN, will continue regardless of sea level rise. The international court of justice, which will issue a highly anticipated advisory opinion on climate change in the coming months, was petitioned by Aosis to affirm this.
Yahoo
4 hours ago
- Sport
- Yahoo
Evan Carter's leaping grab
14 Teams Confirmed For 2025-26 Continental Cup The IIHF Continental Cup has announced its field of competitors for the 2025-26 season. The tournament will include 14 teams – down from 20 in each of the last three seasons – and will be staged in three rounds instead of four. 2:38 Now Playing Paused Ad Playing
Yahoo
6 hours ago
- Business
- Yahoo
Bank of America explains how a market bubble could soon form — and lays out the perfect trade to combat it
BofA analysts say risks of a stock market bubble in the second half are building. The bank's Michael Hartnett said expectations for rate cuts and lower taxes are fueling inflows to stocks. His team says a top trade is owning US growth stocks and international value stocks. A Bank of America analyst sees the risk of a speculative stock market bubble increasing as expectations that the Federal Reserve will cut interest rates continue to rise. In a note on Friday, BofA's Michael Hartnett highlighted a shift that he sees approaching, one that could lead to complications for investors—and he also shared his view on a trade to hedge such a scenario. Geopolitical tensions and tariff updates from President Donald Trump have been headwinds for markets. But with the Israel-Iran ceasefire continuing to hold, the focus has shifted to the possibility of interest rate cuts in July. Federal Reserve chairman Jerome Powell opted to leave rates steady at this month's meeting, but several top officials since then have come out in support for a cut as soon as next month. As Hartnett's team sees it, investors have begun to adjust for a higher likelihood that Powell will pivot in his stance and cut interest rates. On top of that, Trump's "Big Beautiful Bill" is likely to result in lower taxes for corporations and some households. "H2 bubble risk high as Trump/Powell pivot from tariffs to tax cuts/rate cuts to incite US$ devaluation/US stock bubble," Hartnett wrote. Hartnett and his team go on to say that the best way for investors to play the market against the backdrop of a potential bubble is by owning US growth stocks and international value stocks, presenting it as a means of finding a balance between risk and reward. They highlight this strategy as an effective way to guard against the potential impact of the predicted second-half bubble, as it offers exposure to growth in both US and international markets. Other experts have shared similar strategies for handling this year's high levels of market and economic uncertainty. Investor Bill Gross said this week he was eyeing a small bull market for stocks and a small bear market for bonds, highlighting the strategy of buying one and selling the other. Read the original article on Business Insider
Yahoo
6 hours ago
- Business
- Yahoo
BlackRock Launches New Global Government Bond Hedged ETF
BlackRock launched a new exchange-traded fund Thursday designed to offer investors exposure to a globally diversified portfolio of government bonds. The iShares Global Government Bond USD Hedged Active ETF (GGOV) uses a currency hedge on the non-U.S. bonds that seeks to raise the yield on those exposures when the U.S. policy rates are elevated relative to their global counterparts, according to a press release. GGOV is managed by the BlackRock Tactical Asset Allocation team, and its benchmark index is the Bloomberg Global Treasury USD Hedged Index. The expense ratio is 0.39%. USD-hedged global government bonds have historically produced higher yields with lower volatility versus comparable U.S.-only bond indices, Tom Becker, lead portfolio manager of GGOV, said via the press release. BlackRock determined that this type of diversified global fixed-income exposure—particularly with a foreign exchange (FX) hedge where there is pure exposure to a diversified set of sovereign issuers across the world—would be an attractive access point for a lot of investors who have a large home bias, Becker told The firm saw that it could 'combine what would be a differentiated benchmark and starting point with a strong experience of delivering alpha for clients,' he said. There's also much more concern now about the size of the government deficits and inflation, Becker added. GGOV may help investors limit some of the risk they'd see with a portfolio of only U.S.-focused fixed-income investments. BlackRock's iShares global fixed-income ETF business hit the $1 trillion mark in September 2024 as the Federal Reserve's earlier rate hikes had investors turning to bonds. GGOV is joining BlackRock's $52 billion-plus U.S. active ETF platform. The world's largest asset manager is expecting the fixed-income ETFs overall to reach $6 trillion in assets under management by 2030, if not sooner, according to its annual outlook published in | © Copyright 2025 All rights reserved
Yahoo
7 hours ago
- Business
- Yahoo
Here's Why It is Worth Investing in Kennametal Stock Now
Kennametal Inc. KMT is poised to gain from the solid momentum in its end markets, strong product portfolio, product innovations and a sound capital-deployment strategy. The company remains focused on investing in growth opportunities and strengthening its long-term market Zacks Rank #2 (Buy) company has a market capitalization of $1.8 billion. In the past month, the stock has risen 8.1% compared with the industry's 4.9% growth. Image Source: Zacks Investment Research Let's delve into the factors that make this company investment-worthy at the Strength: The company is witnessing several positive trends that hold promise for its long-term growth. This includes an increase in U.S. and international defense spending volumes and digitalization. Also, improved supply chain and increasing original equipment manufacturer build rates in the aerospace market in EMEA bode well. For fiscal 2025, the company expects revenues from aerospace & defense markets to increase on a year-over-year Product Portfolio: Kennametal is poised to benefit from its well-diversified portfolio and investments in product development. Some notable products introduced by the company are TopSwiss Inserts, HARVI TE Duo-Lock, KSEM ST Line, Through Coolant ER Collets, FV Geometry Inserts and Chip Fan it remains focused on strategic partnerships and investing in manufacturing facilities to boost growth. For instance, in May 2025, Kennametal invested in Toolpath Labs, an emerging leader in AI-powered computer-aided manufacturing software. The collaboration will enable KMT to expand its suite of digital capabilities and offerings for its manufacturing customers Policies: KMT is committed to rewarding shareholders through dividend payouts and share repurchases. In the first nine months of fiscal 2025, the company distributed dividends totaling $46.6 million to its shareholders and bought back shares for $55.1 2024, the company completed the initial share repurchase program, which was announced in July 2021. Also, in February 2024, its board of directors authorized another repurchase program worth $200 million, which is valid for three Revisions: In the past 60 days, the Zacks Consensus Estimate for KMT's fiscal 2025 (ending June 2025) earnings has increased 24%. Also, the same for fiscal 2026 (ending June 2026) has been revised upward 7.8%. Other top-ranked companies from the same space are discussed below:Howmet Aerospace HWM currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks delivered a trailing four-quarter average earnings surprise of 8.8%. In the past 60 days, the consensus estimate for Howmet's 2025 earnings has increased 6.5%.AptarGroup, Inc. ATR presently carries a Zacks Rank of 2. ATR delivered a trailing four-quarter average earnings surprise of 7.3%. In the past 60 days, the consensus estimate for AptarGroup's 2025 earnings has increased 5.7%.Federal Signal Corporation FSS currently carries a Zacks Rank of 2. FSS delivered a trailing four-quarter average earnings surprise of 6.4%. In the past 60 days, the Zacks Consensus Estimate for Federal Signal's 2025 earnings has increased 1.6%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AptarGroup, Inc. (ATR) : Free Stock Analysis Report Kennametal Inc. (KMT) : Free Stock Analysis Report Federal Signal Corporation (FSS) : Free Stock Analysis Report Howmet Aerospace Inc. (HWM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
