The Trump administration today will formally withdraw federal limits on carbon emissions at power plants, triggering the next stage of what is likely to be a yearslong fight over the Obama administration’s central regulation for slowing climate change. Environmental Protection Agency Administrator Scott Pruitt made the announcement yesterday at an event in Kentucky, telling a group gathered by Senate Majority Leader Mitch McConnell that the administration is trying to reverse what it sees as an attack on the coal business.
Uncertainty from Brexit and Catalonia’s push for independence is a major risk to the outlook in Europe, according to Maurice Obstfeld,chief economist at the International Monetary Fund. At a press conference discussing the agency’s latest global economic report card, Obstfeld urged British and EU negotiators to avoid a "cliff edge" Brexit. He said British Prime Minister Teresa May’s proposal of a two-year transition period could be a "good thing" as it would set out a clear end-point and a process to get there.
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