LONDON (Reuters) - Stocks fell in Europe and Asia on Thursday as investor concern over the pace of U.S. economic growth overshadowed a widely telegraphed rise in Federal Reserve interest rates that lifted the dollar off recent lows.
The Robust Reactive Systems Labjust might have the highest ceilings of any lab on the Carnegie Mellon campus. It's big and drafty, and were it not for the rows of computer workstations, it might easily be mistaken for an airplane hangar. The centerpiece looks more like a batting cage than a serious piece of lab equipment. But when the demo starts, everyone stops and watches. Read More
Global warming is expected to have a big impact on the economy, and a new study says cities will be hit the hardest.
The study published Monday in the Nature Climate Change journal found that the total economic costs of climate change for cities could be 2.6 times higher due to an effect researchers call the "urban heat island."
Researchers looked at 1,692 cities and found that by 2100, they could be as much as 8 degrees C warmer. Nearly 5 degrees would be due to global warming, but the rest is from the heat island effect, which happens when parks and lakes are replaced by heat-trapping concrete and asphalt.
By 2050, cities could see temperatures rise by two degrees from heat islands. That could mean more air pollution, worse water quality, and poorer health.
Any hard-won victories over climate change on a global scale could be wiped out by the effects of uncontrolled urban heat islands," said Richard S.J. Tol of the University of Sussex in a release.
The study found the median city would lose between 1.4 per cent and 1.7 per cent of its GDP by 2050, and between 2.3 and 5.6 per cent by 2100, depending on how much the planet warms during that period of time. The worst-off city could have losses as high as nearly 11 per cent of its GDP.
Researchers looked at different policies that could mitigate the economic impact of warming, like planting more trees.
They found that the cheapest measure would be installing cool roofs and pavements that absorb less heat and reflect less into the nearby environment. The study found that changing 20 per cent of a city's roofs and half of its pavements could save 12 times the cost of installation and maintenance, and reduce air temperatures by 0.8 degrees.
British Airways has a problem. It's new IT system has completely crashed five times inside a year, and today it added a sixth global crash to the roster. All flights from Heathrow and Gatwick have been cancelled until at least 6pm in London tonight, affecting all BA flights globally. The airline is asking passengers not to come to the airports. The system failure also took out the BA Read More