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As Brazil Cracks Down on Forest Clearing, Emissions Fall

1 month 1 week ago
Last year Brazil saw its biggest drop in emissions since 2009, new data show. The decline comes in the wake of a crackdown on deforestation. From a report: Since returning to power in 2022, President Luiz Inacio Lula da Silva has moved to stem illicit clearing of forest by miners, loggers, and farmers, stepping up enforcement that had been weakened under his predecessor, far-right president Jair Bolsonaro. Deforestation of the Brazilian Amazon is now at its lowest level in more than a decade. In Brazil, forests are largely destroyed to create new cropland and pasture, and together, the loss of forest and raising of cattle are its biggest sources of emissions. Lula's crackdown on illegal deforesters has put those emissions in check. According to the Climate Observatory, a green group, Brazilian emissions fell by 16.7 percent last year. "The new data shows the impact of the federal government retaking control over deforestation after a deliberate lack of control between 2019 and 2022," when Bolsonaro held office, the group said in a statement. Lula aims to end illegal deforestation entirely by the end of this decade, but as he makes progress on this goal, Brazil is still facing worsening droughts and fires fueled by warming. Last year, fires accounted for two-thirds of the primary tropical forest lost in Brazil, according to the World Resources Institute. Often small fires used to clear land get out of control, burning through larger, drought-ridden areas.

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Corporate Profits Surge as Companies Cut Nearly 1 Million Jobs

1 month 1 week ago
U.S. corporate profits have risen to record levels this year as companies eliminated nearly 1 million jobs. Chen Zhao of Alpine Macro calls the disconnect a "jobless boom." Companies typically cut workers when profits decline. Amazon laid off 30,000 employees despite strong earnings. Zhao attributes the pattern to AI adoption boosting productivity across industries while reducing demand for workers. Labor demand has fallen to zero growth or mild contraction. The Federal Reserve lowered interest rates in September and October after Jerome Powell noted concerns about layoff announcements from large employers. The Department of Labor suspended monthly employment reports when the government shutdown began October 1. ADP reported private employers added 42,000 workers in October. The unemployment rate stood at 4.3% in August. The rate has remained stable because the labor pool is contracting due to baby boomer retirements and reduced immigration under Trump administration policies. Art Papas of Bullhorn disputes the AI explanation and argues companies are recalibrating after pandemic overhiring.

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