- Equity markets rally after jumbo US rate cut
- Late Harrods owner Al-Fayed accused of rape: BBC
- Hong Kong man sentenced 14 months for wearing 'seditious' T-shirt
- Lebanon's Hezbollah in disarray after second wave of deadly blasts
- Equity markets, yen rally after jumbo US rate cut
- Meta and Spotify blast EU decisions on AI
- Hasan takes three as Bangladesh rattle India in first Test
- Two killed during police operation in New Caledonia
- Flood-hit region leaders to meet in Poland to discuss EU aid
- Sri Lanka to vote in first poll since economic collapse
- Hong Kong probe finds Cathay Airbus defect could cause 'extensive' damage
- AI development cannot be left to market whim, UN experts warn
- All Blacks primed for 'hell' of a Wallabies clash
- Japan firm says no longer makes radio reportedly used in Lebanon blasts
- Zoom fatigue? Try some nature in your background: study
- Boeing to start large-scale furloughs with Seattle strike talks stalled
- Japan walkie-talkie maker says investigating after Lebanon blasts
- Slipper to become most-capped Wallaby in All Blacks clash
- Tokyo surges on weak yen as Asian traders cheer big US rate cut
- Vast France building project sunk by sea level rise fears
- UK campaigners in green energy standoff reject 'nimby' label
- Rainbow warriors: Three things to watch at cycling world championships
- Lebanon's Hezbollah in disarray after second wave of device blasts
- China's 'full-time dads' challenge patriarchal norms
- What we know about the fire 'pandemic' plaguing Brazil
- X says Brazil service restoration 'inadvertent' and 'temporary'
- Amazon drought leaves Colombian border town high and dry
- Some Cubans depend on sugar water as food shortages bite
- Saudi crown prince says no Israel ties without Palestinian state
- Canada to further cut international student, foreign worker permits
- YouTube launches new TV-focused tools for creators
- White Sox heading for worst season in MLB history
- China the top challenge in US history: senior diplomat
- Hong Kong democracy tycoon's son warns time running out
- New migraine drugs no better than cheap painkillers: big study
- Sean 'Diddy' Combs again denied bail in sex trafficking case
- Brewers clinch division title as MLB playoff race heats up
- Man City blunted by 'giant' Inter in Champions League stalemate
- US stocks dip despite larger Fed interest rate cut
- Man City held by Inter as PSG pinch win in Champions League
- All Blacks recall Beauden Barrett for Australia Test
- Fears of all-out war as new Lebanon device blasts kill 20, wound 450
- Spurs late show saves Postecoglou blushes at Coventry
- PSG snatch late goal to beat Champions League debutants Girona
- Gittens' late double gives Dortmund Champions League win at Brugge
- Man City blunted by Inter in Champions League stalemate
- Hidden talent: French Olympic star Marchand opts for disguise
- MrBeast named in California lawsuit over 'Beast Games' show
- Gauff splits with Gilbert as coach after 14-month run
- Hundreds of thousands at risk in Sudan's El-Fasher: UN
Biden laying foundation for green energy investments: Yellen
US President Joe Biden's push for green energy tax credits will help boost a massive ramp up in private investment that will create jobs and lower energy costs for American families, Treasury Secretary Janet Yellen said Tuesday.
Yellen called the administration's plan "the most aggressive action that we've ever taken to address the climate crisis."
She traveled to North Carolina to tour a solar plant and tout policies included in the recently-approved Inflation Reduction Act, which together with the Infrastructure Law include more than $430 billion in energy investments.
The legislation provides tax credits to households to make their homes more energy efficient or switch to cleaner sources, which will help lower costs, Yellen said.
But the administration's approach also "rests on harnessing the engagement of the private sector," the official said in her speech, delivered in front of an array of solar panels.
"Beyond the consumer tax credits, we expect a significant mobilization of private investment into the clean energy sector," she said. "These investments will accelerate the transition to our green energy future and lower energy costs for American households and businesses."
In addition, "They will secure our energy supply against global price shocks. And they will provide good-paying, high-quality jobs across America."
Yellen said the transition is critical to address climate change which has seen more costly storms arise across the globe.
"Climate change poses a grave risk to the productive capacity of our economy while also impacting its stability," she said.
But the transition to a clean energy economy also brings lower costs and "significant economic opportunities in high-growth industries, while building economic resilience and creating good-paying jobs across the country."
A.Mahlangu--AMWN