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Children in Newtok, Alaska, Oct. 2019. Thawing permafrost and flooding have forced the community to move to Mertarvik. Photo: Bonnie Jo Mount/The Washington Post via Getty Images

The Arctic's thawing permafrost could release an estimated 300 million to 600 million tons of net carbon into the atmosphere each year, according to NOAA's 2019 Arctic Report Card released Tuesday.

Why it matters: Consequences of ongoing changes in the Arctic's climate — accelerated by warming air temperatures and dwindling sea ice — will result in "altered weather patterns, increased greenhouse gas emissions and rising sea levels," the Washington Post reports.

  • Warming air temperatures are "driving changes in the Arctic environment that affect ecosystems and communities on a regional and global scale," the report reads.

Details: The Greenland Ice Sheet is contributing to global average sea-level rise, losing about 267 billion metric tons of ice each year.

  • Warming conditions in the Arctic promote the conversion of carbon stored in permafrost into greenhouse gases.
  • Arctic sea ice is shrinking in thickness, making it increasingly vulnerable to warming air and oceans.
  • May 2019 saw the fifth lowest North American Arctic snow cover in the 53 years since recording began, while June's snow cover was the third lowest.

Go deeper: Key science report shows "unprecedented" changes to oceans and frozen regions

Go deeper

Felix Salmon, author of Capital
20 mins ago - Economy & Business

The places regulation does not reach

Illustration: Aïda Amer/Axios

Financial regulation is not exactly simple anywhere in the world. But one country stands out for the sheer amount of complexity and confusion in its regulatory regime — the U.S.

Why it matters: Important companies fall through the cracks, largely unregulated, while others contend with a vast array of regulatory bodies, none of which are remotely predictable.

Trump nominee Christopher Waller confirmed to Fed board

Christopher Waller at a Senate Banking hearing earlier this year. (Photo: Sarah Silbiger/Getty Images)

The Senate voted 48-47 on Thursday to confirm Trump nominee Christopher Waller to the Federal Reserve Board of Governors — filling one of the two vacant slots on the influential economic body.

Why it matters: It's one of the last marks left on the Fed board by Trump, who has nominated five of its six members.

1 hour ago - Economy & Business

Boeing gets huge 737 Max order from Ryanair, boosting hope for quick rebound

Ryanair low cost airline Boeing 737-800 aircraft as seen over the runway. Photo by Nik Oiko/SOPA Images/LightRocket via Getty Images

Dublin-based Ryanair said it would add 75 more planes to an existing order for Boeing's 737 Max airplanes, a giant vote of confidence as Boeing seeks to revive sales of its best-selling plane after a 20-month safety ban following two fatal crashes.

The big picture: Ryanair's big order, on the heels of breakthrough vaccine news, is also a promising sign that the devastated airline industry might recover from the global pandemic sooner than expected.