Tuesday Briefing: Xi's not there? COP26 hopes dim on Chinese leader's likely absence

Tuesday, October 26, 2021

by Linda Noakes

Sponsored by   Deloitte

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Here's what you need to know.

Biden imposes new international travel vaccine rules, another Chinese developer defaults, and what next for trillion-dollar Tesla?

Today's biggest stories

A police officer uses a saw to cut a barrel and remove a climate activist from the road during a protest by Extinction Rebellion against the COP26 summit, in Madrid, Spain, October 25, 2021. REUTERS/Juan Medina

WORLD

The leaders of most of the world's biggest greenhouse gas emitters gather in Glasgow from Sunday, aiming to thrash out plans and funds to tilt the planet towards clean energy. But the man running the biggest of them all likely won't be there.

Roads were blocked, shops were shut, phones were down and people queued for bread in Sudan, a day after the army seized power in a coup that triggered unrest in which at least seven people were killed.

U.S. President Joe Biden will join Southeast Asian leaders for a virtual summit today, the first time in four years that Washington will engage at the top level with a bloc seen as key to countering an increasingly assertive China.

Turkey and its Western allies climbed down from a full-blown diplomatic crisis after foreign embassies said that they abide by diplomatic conventions on non-interference, averting a threatened expulsion of 10 ambassadors.

Stuck in a village in southern India for nine months and unable to return to his job in Saudi Arabia, Sugathan P.R. is hoping the World Health Organization will approve the Indian COVID-19 shot Covaxin, paving the way for his trip back.


People hold placards as they march to protest against New York City mandated vaccines against COVID-19, October 25, 2021. REUTERS/Carlo Allegri

U.S.

Biden signed an order imposing new vaccine requirements for most foreign national air travelers and lifting severe travel restrictions on China, India and much of Europe effective November 8.

New York City's police union filed a lawsuit against a vaccine mandate for municipal workers ordered last week by Mayor Bill de Blasio. The mayor ordered all city employees to show proof of inoculation against COVID-19 or be placed on unpaid leave,

The thousands of hours of video of the deadly assault on the U.S. Capitol by Donald Trump supporters have overwhelmed the prosecutors and defense lawyers handling the hundreds of criminal cases and are delaying trials for some defendants.

Texas Governor Greg Abbott signed into law a bill banning transgender girls from participating in female sports at public schools, joining a wave of similar measures emerging from Republican-controlled statehouses across the country.

Two people were killed and four others, including a police officer, were injured in a shooting at a shopping center in Boise, Idaho, that ended with the lone suspect taken into custody.

BUSINESS

Modern Land has missed a bond payment, the latest Chinese property developer to do so, adding to worries about wider effects of the debt crisis at behemoth China Evergrande Group and dragging on shares in the sector.

Tesla surpassed $1 trillion in market value after landing its biggest-ever order from rental car company Hertz, a deal that reinforced the electric car leader's ambitions to top the entire auto industry in sales over the next decade.

Facebook said it will start publishing the financial results of its augmented and virtual reality labs as a separate unit, where it is investing billions in its ambitions to build the "metaverse" and as it reported that its main advertising business faces "significant uncertainty."

UBS posted its highest quarterly profit since 2015, as robust trading activity by the world's ultra wealthy led to a 23% surge in fee income. The surprisingly strong results come as Switzerland's largest bank announced new plans for its digital push including a new advisory service for affluent U.S. clients.

London's Heathrow Airport does not expect air traffic to recover completely until at least 2026, with the number of passengers traveling through Britain's biggest airport well below pre-pandemic levels despite a pick-up in the past three months.

Quote of the day

"I want to spend the only life I have with the one I love"

Kei Komuro

Bridegroom

Japan's princess Mako gives up title as she weds her college sweetheart

Video of the day

Robots supply groceries to Londoners

Built by UK online supermarket pioneer Ocado, the washing-machine sized bots have caught the eye of international retailers battling a shortage of workers and rising wage demands.

And finally…

Remote-sensing reveals details of ancient site in Mexico

Aerial remote-sensing of a large region of Mexico has revealed hundreds of ancient Mesoamerican ceremonial centers, including a large one at an important site for the ancient Olmec culture that is known for its colossal stone heads.

Sponsored by Deloitte: Taking Action on Climate Change

Asia Pacific could see an economic gain if rapid decarbonization efforts are take, according to the Deloitte Economic Institute

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