Nov 28, 2018

Brazil withdraws offer to host 2019 UN climate conference

Brazil's president-elect Jair Bolsonaro. Photo: Evaristo Sa/AFP via Getty Images

Brazil's government says it will no longer host next year's United Nations annual climate summit, citing "budgetary and financial restrictions," reports Bloomberg.

The big picture: Experts have warned that the environmental policies favored by right-wing president-elect Jair Bolsonaro could cause a spike in greenhouse gas emissions and deforestation in the Amazon rainforest — which a recent report claims has reached its highest level in a decade.

The withdrawal of Brazil as a host venue is symbolically important, since it was the Rio Earth Summit of 1992 that kicked off multilateral negotiations on climate change in the first place.

Per Axios' Amy Harder, Brazil's retreat is the latest sign of the rise of leaders around the world who are resistant to globalism and multilateral diplomacy, which is what these climate talks and the 2015 Paris Climate Agreement are all about.

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Unemployment rate falls to 13.3% in May

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. unemployment rate fell to 13.3% in May, with 2.5 million jobs gained, the government said on Friday.

Why it matters: The far better-than-expected numbers show a surprising improvement in the job market, which has been devastated by the coronavirus pandemic.

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

The shocking May jobs report — with a decline in the unemployment rate to 13.3% and more than 2 million jobs added — destroyed expectations of a much worse economic picture.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.

2 hours ago - Sports

How coronavirus could reshuffle the sports calendar

Illustration: Eniola Odetunde/Axios

The NBA's Board of Governors approved Thursday the league's 22-team plan to resume play at Walt Disney World — a plan that also includes tentative dates for both this season and next.

Why it matters: The league's proposed trip to Disney World not only impacts this season but could have a domino effect that impacts seasons in the future — and could permanently change what time of year the NBA plays its games.