European Investment Bank and UNICEF partner to help improve access to quality education and protect children from climate change - UNICEF | Canada News Media
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European Investment Bank and UNICEF partner to help improve access to quality education and protect children from climate change – UNICEF

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BRUSSELS, 27 January 2020 – The European Investment Bank (EIB) and UNICEF today announced a new partnership aimed at increasing access to quality education and reducing the impact of climate change on children.

Under a Memorandum of Understanding (MoU) signed by EIB Group President Werner Hoyer and UNICEF Executive Director Henrietta Fore, the two institutions committed to jointly investing in quality education and skills training for the most vulnerable children. EIB and UNICEF will also scale-up community-based climate adaptation initiatives in schools and health facilities. 

Nicolas Schmit, Commissioner for Jobs and Social Rights, said: “The social agenda of this European Commission aims for a more certain future for our children and young people. We want to protect them from poverty and make sure they have access to the skills and training they need to navigate the green and digital transitions. Nobody should be left behind. I welcome today’s agreement between the EIB and UNICEF which captures that very same ethos.”

To improve children’s climate resilience and access to health services, quality education and safe water, EIB and UNICEF will promote financial innovation including impact investments aimed at boosting financing for development across private and public actors.

The two institutions will also look to help vulnerable groups gain better access to services around the EIB’s sustainable infrastructure investments, such as those in water, sanitation and hygiene projects. Pilot projects will soon be initiated in countries across Europe, Central Asia and Southern and Eastern Africa.

“Supporting education, providing decent jobs and tackling climate action are of great importance for young people globally. These are also strategic priorities of the EU Bank”, said EIB Group President Werner Hoyer. He continued “Leveraging the well-known expertise and operational capacity of UNICEF, the EU Bank will contribute to improve inclusive and equitable quality education for children and young people worldwide and promote lifelong learning opportunities”.

“Around 10 million young people reach working age every month and must be equipped with the foundational skills they need to succeed,” said UNICEF Executive Director Henrietta Fore. “By working with the EIB we can help make sure that children and young people have the digital, business and entrepreneurial skills needed to thrive in today’s market.”

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European Investment Bank

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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