Stocks surged after President Donald Trump said he will be meeting with his Chinese counterpart, Xi Jinping, at the upcoming G-20 summit.US Marketsread more
In a tweet, Trump said that he and Xi "had a very good telephone conversation," and that "our respective teams will begin talks prior to our meeting."Politicsread more
The move is part of a larger trend that saw the survey's 179 participants move away from risk and toward positions that reflect fear of a coming economic slowdown spurred by a...Marketsread more
Trump went after Draghi for opening the door for more monetary stimulus in Europe, which would weaken the euro relative to the dollar.Marketsread more
Shares of Beyond Meat soared 18% in premarket trading Tuesday, surpassing $200 per share.Food & Beverageread more
UBS believes a rate cut from the Federal Reserve would do little to lift the market.Marketsread more
Investors bracing themselves for lower Federal Reserve rates should think about loading up on health care stocks, history shows.Marketsread more
Canaccord Genuity's Tony Dwyer warns that If the Fed fails on Wednesday to signal a rate cut, the June rally could hit the skids.Trading Nationread more
Elon Musk has said that a brain-computer interface is 'coming soon,' but he is known for overly ambitious deadlines. Still, some of the boldest tech ideas are going to be...Technology Executive Councilread more
The yield on the benchmark 10-year Treasury note fell to its lowest level since September 2017 as the Fed began its two-day policy meeting.Bondsread more
If our oceans were considered a country, their worth would outshine the likes of Russia and Brazil's economies, according to a new report.
The world's oceans are worth $24 trillion and generate $2.5 trillion in goods and services annually, making it technically the seventh-largest economy worldwide, according to the "Reviving the Ocean Economy" report, commissioned by the WWF, this week.
This eye-watering asset value was determined by four components: direct output of resources ($6.9 trillion), productive coastline ($7.8 trillion), trade/transport ($5.2 trillion) and carbon absorption ($4.3 trillion).
World Wide Fund for Nature (WWF) admits, however, that this trillion-dollar figure is an "underestimate," as wind energy and offshore oil and gas drilling weren't factored in, due to the difficulty in calculating their exact amounts.
So if the oceans are worth so much, this should be good, right? Wrong. With enviable value and precious assets come several threats, and the WWF suggest that with not enough being done it is becoming a "matter of global urgency" for governments to combat the man-made and natural factors impacting the oceans.
In light of the report, WWF is calling upon governments and individuals worldwide with eight action proposals, asking those such as the U.K. government to progress the development of marine conservation zones and sustainable goals.
Threats impacting the functioning of this system include pollution and destruction of marine habitats, yet one of the most destructive is climate change, which contributes to ocean acidity and impacts how marine animals live.
Man-made dangers such as illegal fishing only enhances this problem, with 90 percent of fish stocks having already suffered from some form of over-exploitation.
If damage to the ecosystems continues at this rate, especially with progressive global warming, coral reefs will vanish within 35 years and those dependent on the oceans for food, jobs (tourism), products and/or coastal protection will have to find an alternative. Fast.
David Nussbaum, CEO of WWF-UK, said in a statement online that governments and individuals alike should recognize the oceans' role and value it as "an important business asset that requires sustainable management and investment."
"Our oceans are a climate regulator and carbon sink, supporting future global economic growth, as well as providing critical goods and services that underpin the well-being of billions of people. But rising temperatures and increased acidification put all this at risk," Nussbaum added.
So what can we do? WWF outlined three targets for 2015, which were to conserve coastal/marine zones by 10 percent (for 2020), avoid additional contribution to climate change and make ocean recovery a key topic at the U.N. Post-2015 Agenda.
"Reviving the Ocean Economy" was a collaborative effort by the WWF along with the Boston Consulting Group and the Global Change Institute; and its lead author was Professor Ove Hoegh-Guldberg, from the institute.