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Jeff Bezos for the first time says he will give most of his money to ...

Washington CNN Business —

Amazon founder Jeff Bezos plans to give away the majority of his $124 billion net worth during his lifetime, telling CNN in an exclusive interview he will devote the bulk of his wealth to fighting climate change and supporting people who can unify humanity in the face of deep social and political divisions.

Though Bezos’ vow was light on specifics, this marks the first time he has announced that he plans to give away most of his money. Critics have chided Bezos for not signing the Giving Pledge, a promise by hundreds of the world’s richest people to donate the majority of their wealth to charitable causes.

Video Ad Feedback Exclusive: Jeff Bezos offers his advice on taking risks right now 01:50 - Source: CNN

In a sit-down interview with CNN’s Chloe Melas on Saturday at his Washington, DC, home, Bezos, speaking alongside his partner, the journalist-turned-philanthropist Lauren Sánchez, said the couple is “building the capacity to be able to give away this money.”

Asked directly by CNN whether he intends to donate the majority of his wealth within his lifetime, Bezos said: “Yeah, I do.”

Bezos said he and Sánchez agreed to their first interview together since they began dating in 2019 to help shine a spotlight on the Bezos Courage and Civility Award, granted this year to musician Dolly Parton.

The 20-minute exchange with Bezos and Sánchez covered a broad range of topics, from Bezos’s views on political dialogue and a possible economic recession to Sánchez’s plan to visit outer space with an all-female crew and her reflections on a flourishing business partnership with Bezos.

Dolly Parton

That working relationship was on display Saturday as Bezos and Sánchez announced a $100 million grant to Parton as part of her Courage and Civility Award. It is the third such award, following similar grants to chef Jose Andrés, who has spent some of the money making meals for Ukrainians — and the climate advocate and CNN contributor Van Jones.

“When you think of Dolly,” said Sánchez in the interview, “Look, everyone smiles, right? She is just beaming with light. And all she wants to do is bring light into other people’s worlds. And so we couldn’t have thought of someone better than to give this award to Dolly, and we know she’s going to do amazing things with it.”

The throughline connecting the Courage and Civility Award grantees, Bezos said, was their capacity to bring many people together to solve large challenges.

“I just feel honored to be able to be a part of what they’re doing for this world,” Bezos told CNN.

Unity, Bezos said, is a trait that will be necessary to confront climate change and one that he repeatedly invoked as he blasted politicians and social media for amplifying division.

How to give it away

But the couple’s biggest challenge may be figuring out how to distribute Bezos’ vast fortune. Bezos declined to identify a specific percentage or to provide concrete details on where it would likely be spent.

Despite being the fourth-wealthiest person in the world, according to the Bloomberg Billionaires Index, Bezos has refrained from setting a target amount to give away in his lifetime.

Bezos has committed $10 billion over 10 years, or about 8% of his current net worth, to the Bezos Earth Fund, which Sánchez co-chairs. Among its priorities are reducing the carbon footprint of construction-grade cement and steel; pushing financial regulators to consider climate-related risks; advancing data and mapping technologies to monitor carbon emissions; and building natural, plant-based carbon sinks on a large scale.

Though Bezos is now Amazon’s (AMZN) executive chair and not its CEO — he stepped down from that role in 2021 — he is still involved in the greening of the company. Amazon is one of more than 300 companies that have pledged to reduce their carbon footprint by 2040 according to the principles of the Paris Climate Agreement, Bezos said, though Amazon’s (AMZN) footprint grew by 18% in 2021, reflecting a pandemic-driven e-commerce boom. Amazon’s (AMZN) reckoning with its own effect on the climate mirrors its outsized impact on everything from debates about unionization to antitrust policy, where the company has attracted an enormous level of scrutiny from regulators, lawmakers, and civil society groups.

Bezos compared his philanthropic strategy to his years-long effort constructing a titanic engine of e-commerce and cloud computing that has made him one of the most powerful people in the world.

“The hard part is figuring out how to do it in a levered way,” he said, implying that even as he gives away his billions, he is still looking to maximize his return. “It’s not easy. Building Amazon was not easy. It took a lot of hard work, a bunch of very smart teammates, hard-working teammates, and I’m finding — and I think Lauren is finding the same thing — that charity, philanthropy, is very similar.”

“There are a bunch of ways that I think you could do ineffective things, too,” he added. “So you have to think about it carefully and you have to have brilliant people on the team.”

Bezos’ methodical approach to giving stands in sharp contrast to that of his ex-wife, the philanthropist MacKenzie Scott, who recently gave away nearly $4 billion to 465 organizations in the span of less than a year.

The economic downturn

While Bezos and Sánchez plot out their plans for Bezos’ immense wealth, many people of more modest means are bracing for what economists fear may be an extended economic downturn.

Last month, Bezos tweeted a warning to his followers on Twitter, recommending that they “batten down the hatches.”

The advice was meant for business owners and consumers alike, Bezos said in the interview, suggesting that individuals should consider putting off buying big ticket items they’ve been eyeing — or that companies should slow their acquisitions and capital expenditures.

“Take some risk off the table,” Bezos said. “Keep some dry powder on hand…. Just a little bit of risk reduction could make the difference for that small business, if we do get into even more serious economic problems. You’ve got to play the probabilities a little bit.”

Many may be feeling the pinch now, he added, but argued that as an optimist he believes the American Dream “is and will be even more attainable in the future” — projecting that within Bezos’ lifetime, space travel could become broadly accessible to the public.

Bezos and Sánchez’s partnership

Sánchez said the couple make “really great teammates,” though she laughed, “We can be kind of boring,” Sánchez said. Bezos smiled and replied, “Never boring.”

Sánchez, the founder of Black Ops Aviation, the first female-owned and operated aerial film and production company is a trained helicopter pilot. She said in the interview that they’ve both taken turns in the driver’s seat.

Bezos has credited his own journey to space for helping to inspire his push to fight climate change. Now, it is Sánchez’s turn.

Sánchez told CNN she anticipates venturing into orbit herself sometime in 2023. And while she did not directly address who will be joining her — quickly ruling out Bezos as a crewmate — she said simply: “It’ll be a great group of females.”

Washington’s NFL team

Bezos may be adding NFL owner to his resume. CNN recently reported that Bezos and Jay-Z are in talks on a potential joint bid on the Washington Commanders.

It is not clear if the two have yet spoken with Dan Snyder and his wife, Tanya, the current owners of the NFL team, about the possibility.

But during the interview on Saturday, Melas asked Bezos if the speculation was true.

“Yes, I’ve heard that buzz,” Bezos said with a smile.

Sánchez chimed in with a laugh, “I do like football. I’m just going to throw that out there for everyone.”

Bezos added, “I grew up in Houston, Texas, and I played football growing up as a kid … and it is my favorite sport … so we’ll just have to wait and see.”

– CNN’s Chloe Melas contributed to this report

Nancy Pelosi announces she won't run for leadership post, marking ...

CNN —

House Speaker Nancy Pelosi announced on Thursday that she will relinquish her leadership post after leading House Democrats for two decades, building a legacy as one of the most powerful and polarizing figures in American politics.

Pelosi, the first and only woman to serve as speaker, said that she would continue to serve in the House, giving the next generation the opportunity to lead the House Democrats, who will be in the minority next year despite a better-than-expected midterm election performance.

“I will not seek reelection to Democratic leadership in the next Congress,” said Pelosi in the House chamber. “For me, the hour has come for a new generation to lead the Democratic caucus that I so deeply respect, and I’m grateful that so many are ready and willing to shoulder this awesome responsibility.”

Pelosi, 82, rose to the top of the House Democratic caucus in 2002, after leading many in her party against a resolution authorizing the use of force in Iraq. She then guided Democrats as they rode the waves of popular opinion, seeing their power swell to a 257-seat majority after the 2008 elections, ultimately crash to a 188-seat minority, and then rise once again.

Her political career was marked by an extraordinary ability to understand and overcome those political shifts, keeping conflicting factions of her party united in passing major legislation. She earned the Speaker’s gavel twice – after the 2006 and 2018 elections – and lost it after the 2010 elections.

Of late, she has conducted a string of accomplishments with one of the slimmest party splits in history, passing a $1.9 trillion pandemic aid package last year and a $750 billion health care, energy and climate bill in August.

Her legislative victories in the Biden era cemented her reputation as one of the most successful party leaders in Congress. During the Obama administration, Pelosi was instrumental to the passage of the massive economic stimulus bill and the 2010 Affordable Care Act, which provides over 35 million Americans health care coverage.

Over the past 20 years, the California liberal has been relentlessly attacked by Republicans, who portray her as the personification of a party for the coastal elite. “We have fired Nancy Pelosi,” said House Minority Leader Kevin McCarthy on Fox News on Wednesday, after Republicans won back the chamber.

In recent years, the anger directed toward her has turned menacing. During the January 6, 2021, attack on the Capitol, pro-Trump rioters searched for her — and last month, a male assailant attacked Paul Pelosi, the speaker’s husband, with a hammer at the couple’s home in San Francisco, while she was in Washington.

Pelosi told CNN’s Anderson Cooper this month that her decision to retire would be influenced by the politically motivated attack. Paul Pelosi was released from the hospital two weeks ago after surgery to repair a skull fracture and injuries to his arm and hands.

After thanking her colleagues for their well-wishes for Paul, the House chamber broke out into a standing ovation.

Democrats now look to finally choose Pelosi’s successor

Pelosi’s long reign became a source of tension within her own party. She won the gavel after the 2018 elections by promising her own party that she would leave her leadership post by 2022.

Massachusetts Rep. Seth Moulton, who previously tried to oust Pelosi, told CNN it’s time for a new chapter.

“She’s a historic speaker who’s accomplished an incredible amount, but I also think there are a lot of Democrats ready for a new chapter,” said Moulton.

But some Democrats praised Pelosi and said they wished she would remain leader. Asked about her decision, Senate Majority Leader Chuck Schumer clutched his chest and said he had pleaded with her to stay.

“I told her when she called me and told me this and all that, I said ‘please change your mind. We need you here,’” Schumer said.

House Democrats appear likely to choose New York Rep. Hakeem Jeffries, 52, to succeed Pelosi as leader, though Democrats won’t vote until November 30.

After her speech, Pelosi wouldn’t tell reporters who’d she support. But House Majority Leader Steny Hoyer and House Majority Whip Jim Clyburn announced they would also step down from their leadership posts, and endorsed Jeffries to succeed Pelosi. Hoyer said Jeffries “will make history for the institution of the House and for our country.” Clyburn added that he hoped Massachusetts Rep. Katherine Clark and California Rep. Pete Aguilar would join Jeffries in House Democratic leadership.

Before Pelosi’s announcement, Ohio Rep. Joyce Beatty, chairwoman of the Congressional Black Caucus, told CNN that she expects her caucus to throw their support behind Jeffries, and help him become the first Black House Democratic leader.

“If she steps aside, I’m very clear that Hakeem Jeffries is the person that I will be voting for and leading the Congressional Black Caucus to vote for,” said Beatty.”I don’t always speak for everybody, but I’m very comfortable saying I believe that every member of the Congressional Black Caucus would vote for Hakeem Jeffries.”

Retiring North Carolina Rep. G.K. Butterfield, a former CBC chairman, told CNN that Jeffries “is prepared for the moment” if Pelosi steps aside. Butterfield said he thought Jeffries would run.

The longtime Democratic leader told CNN’s Dana Bash on “State of the Union” on Sunday that members of her caucus had asked her to “consider” running in the party’s leadership elections at the end of the month, adding: “But, again, let’s just get through the election.”

Any decision to run again, Pelosi said, “is about family, and also my colleagues and what we want to do is go forward in a very unified way, as we go forward to prepare for the Congress at hand.”

“Nonetheless, a great deal is at stake because we’ll be in a presidential election. So my decision will again be rooted in the wishes of my family and the wishes of my caucus,” she continued. “But none of it will be very much considered until we see what the outcome of all of this is. And there are all kinds of ways to exert influence.”

Pelosi is a towering figure in American politics with a history-making legacy of shattering glass ceilings as the first and so far only woman to be speaker of the US House of Representatives.

Pelosi was first elected to the House in 1987, when she won a special election to fill a seat representing California’s 5th Congressional District.

When she was first elected speaker, Pelosi reflected on the significance of the event and what it meant for women in the United States.

“This is an historic moment,” she said in a speech after accepting the speaker’s gavel. “It’s an historic moment for the Congress. It’s an historic moment for the women of America.”

This story has been updated with additional developments Thursday.

Alex Rogers Annie Grayer Manu Raju
Alex Rogers
Annie Grayer
Manu Raju

OPEC announces big cut in oil production despite US pressure ...

London CNN Business —

OPEC+ said Wednesday that it will slash oil production by 2 million barrels per day, the biggest cut since the start of the pandemic, in a move that threatens to push gasoline prices higher just weeks before US midterm elections.

The group of major oil producers, which includes Saudi Arabia and Russia, announced the production cut following its first meeting in person since March 2020. The reduction is equivalent to about 2% of global oil demand.

The price of Brent crude oil rose 1.5% to more than $93 a barrel on the news, adding to gains this week ahead of the gathering of oil ministers. US oil was up 1.7% at $88.

The Biden administration criticized the OPEC+ decision in a statement on Wednesday, calling it “shortsighted” and saying that it will hurt low and middle-income countries already struggling with elevated energy prices the most.

The production cuts will start in November, and the Organization of Petroleum Exporting Countries (OPEC) and its allies will meet again in December.

In a statement, the group said the decision to cut production was made “in light of the uncertainty that surrounds the global economic and oil market outlooks.”

Global oil prices, which soared in the first half of the year, have since dropped sharply on fears that a global recession will depress demand. Brent crude is down 20% since the end of June. The global benchmark hit a peak of $139 a barrel in March after Russia’s invasion of Ukraine.

OPEC and its allies, which control more than 40% of global oil production, are hoping to preempt a drop in demand for their barrels from a sharp economic slowdown in China, the United States and Europe.

Western sanctions on Russian oil are also muddying the waters. Russia’s production has held up better than predicted, with supply being diverted to China and India. But the United States and Europe are now working on ways to implement a G7 agreement to cap the price of Russian crude exports to third countries.

The oil cartel came under intense pressure from the White House ahead of its meeting in Vienna as President Biden tried to secure lower energy prices for US consumers. Senior Biden administration officials were lobbying their counterparts in Kuwait, Saudi Arabia, and the United Arab Emirates (UAE) to vote against cutting oil production, according to officials.

‘Total disaster’? Maybe not

The prospect of a production cut was framed as a “total disaster” in draft talking points circulated by the White House to the Treasury Department on Monday, which CNN obtained. “It’s important everyone is aware of just how high the stakes are,” one US official said.

With just a month to go before the critical midterm elections, US gasoline prices have begun to creep up again, posing a political risk the White House is desperately trying to avoid.

Rising oil prices could mean inflation remains higher for longer, and add to pressure on the Federal Reserve to hike interest rates even more aggressively.

But the impact of Wednesday’s cut, while a bullish signal for oil prices, may be limited as many smaller OPEC producers were struggling to meet previous production targets.

“An announced cut of any volume is unlikely to be fully implemented by all countries, as the group already lags 3 million barrels per day behind its stated production ceiling,” Rystad Energy analyst Jorge Leon said in a note.

Rystad Energy estimates that the global oil market will be oversupplied between now and the end of the year, dampening the effect of production cuts on prices.

— Alex Marquardt, Natasha Bertrand, Phil Mattingly, Mark Thompson and Betsy Klein contributed to this report.

Companies pulling back from Russia over the war in Ukraine | CNN ...

CNN Business —

Dozens of the world’s biggest companies have abandoned or scaled back their operations in Russia in response to its invasion of Ukraine.

The exodus affects every corner of the economy, from its vast energy riches through autos, finance, retail, entertainment and fast food, starving Russia of new investment and removing products and services that had become popular in the decades since the collapse of the Soviet Union.

Here’s a look at the major corporate departures.

Autos

Ford (F) announced it was suspending its operations in Russia. The American automaker has a 50% stake in Ford (F) Sollers, a joint venture that employs at least 4,000 workers and is shared with Russian company Sollers.

A Ford dealership and service center. Artyom Geodakyan/TASS/Getty Images

The company has plants in St. Petersburg, Elabuga and Naberezhnye Chelny but said it had “significantly wound down” its Russian operations in recent years. The automaker said it was “deeply concerned about the situation in Ukraine,” and noted it has “a strong contingent of Ukrainian nationals working at Ford around the world.”

General Motors (GM) said it was halting all exports to Russia “until further notice.”

GM doesn’t have a significant presence there: It sells only about 3,000 vehicles a year through 16 dealerships, according to a spokesperson. That’s out of the more than 6 million vehicles the Detroit-based automaker sells annually.

Toyota announced it would stop making cars in Russia or importing them to the country “until further notice, due to supply chain disruptions.”

Volkswagen (VLKAF) is stopping production of vehicles in Russia and has suspended exports to the Russian market. The decision applies to the Russian production sites in Kaluga and Nizhny Novgorod.

Nissan (NSANF) has suspended the export of vehicles to Russia, adding that it “anticipates that production will stop soon at our plant in St. Petersburg.”

Aviation

Boeing (BA) said it would suspend support for Russian airlines.

A company spokesperson confirmed the aircraft maker was pausing “parts, maintenance and technical support services for Russian airlines,” and had also “suspended major operations in Moscow and temporarily closed our office in Kyiv.”

Airbus (EADSF) followed Boeing with a similar move. In a statement, the company said it has “suspended support services to Russian airlines, as well as the supply of spare parts to the country.”

Big Tech

Airbnb cofounder and CEO Brian Chesky said in a tweet that his company was suspending all operations in Russia and Belarus.

Amazon (AMZN)’s cloud division, Amazon (AMZN) Web Services, said March 8 it would halt new sign-ups for the service in Russia and Belarus. The company has already had a “long-standing policy of not doing business with the Russian government” and does not have data centers, infrastructure or offices in Russia, the company said in a blog post.

“AWS has clear terms of service where if a customer is using AWS services to threaten, incite, promote, or actively encourage violence, terrorism, or other serious harm, they will not be permitted to use our services,” Amazon said. “Any customer we know of who is participating in this type of behavior will have their access to AWS suspended.”

Apple (AAPL) has stopped selling its products in Russia.

The tech giant said in a statement that it was “deeply concerned” about the Russian invasion. In response, the company has also moved to limit access to digital services, such as Apple Pay, inside Russia, and restricted the availability of Russian state media applications outside the country.

A re:Store shop in central Moscow. re:Store is one of the largest Apple resellers in Russia. Vladimir Gerdo/TASS/Getty Images

Facebook (FB)-parent Meta said it would block access to Russian news outlets Sputnik and RT, the Russia-backed television network infamous for promoting Russian President Vladimir Putin’s agenda, across the European Union.

The move comes after the company received “requests from a number of governments and the EU to take further steps in relation to Russian state controlled media,” Nick Clegg, Meta’s VP of global affairs, wrote in a tweet.

Meta has also said it has applied algorithmic restrictions on Russian state media that should prevent those posts from surfacing as prominently in users’ feeds.

Hitachi (HTHIY) said March 10 that it is pausing exports to Russia and suspending all manufacturing in the country, “with the exception of products, services and support for electrical power equipment that are indispensable to the daily lives of people,” it said.

The Japanese conglomerate added that Russia accounts for just a small fraction — roughly 0.5% — of its revenue.

IBM (IBM) CEO Arvind Krishna said the company has suspended all business in Russia.

“In Ukraine, we have been in constant touch with our local teams and continue to provide assistance that includes relocation and financial support,” Krishna said. “The safety and security of IBMers and their families in all areas impacted by this crisis remains our top priority.”

Intel (INTC) said April 5 that it has suspended business operations in Russia. Earlier this year, the company said it stopped all shipments to Russia and Belarus.

Microsoft (MSFT) said it was suspending all new sales of its products and services in Russia. President and vice-chair Brad Smith also said the company is stopping “many aspects” of its business in Russia in compliance with government sanctions. Microsoft (MSFT) also said it will continue aiding in Ukrainian cybersecurity.

Netflix (NFLX) said it will be suspending its streaming service in Russia.

“Given the circumstances on the ground, we have decided to suspend our service in Russia,” a Netflix spokesperson told CNN.

No other details were provided.

Previously, the company said it was refusing to air Russian state TV channels — something that the platform would have been required to do starting this week under Russian law.

“Given the current situation, we have no plans to add these channels to our service,” the company told CNN Business.

Nintendo (NTDOF) has stopped taking online orders in Russia.

In a statement on its Russian website, the Switch console maker said that it had “suspended the processing of payments in rubles,” and temporarily set its digital store on “maintenance mode.”

Roku (ROKU), which sells hardware allowing users to stream content through the internet, has banned RT worldwide.

Sony (SNE) has halted all software and hardware shipments, and temporarily suspended orders on its online PlayStation store in Russia.

The entertainment giant has also paused plans to launch Gran Turismo 7, a driving simulator game, in the country. Sony “joins the global community in calling for peace in Ukraine,” it said in a statement.

Spotify (SPOT) said it has closed its office in Russia “indefinitely” and restricted shows “owned and operated by Russian state-affiliated media.” The streaming service removed all content from RT and Sputnik in Europe and other regions, a company spokesman said.

“We are deeply shocked and saddened by the unprovoked attack on Ukraine,” the spokesman added. “Our first priority over the past week has been the safety of our employees and to ensure that Spotify continues to serve as an important source of global and regional news at a time when access to information is more important than ever.”

Twitter (TWTR) has similarly announced plans to “reduce the visibility and amplification” of Russian state media content.

YouTube, which is owned by Google (GOOGL), said it blocked Russian state media within Ukraine, including RT. The video platform also said it would be “significantly limiting recommendations to these channels.” Google (GOOGL) and YouTube have also said they will no longer allow Russian state media outlets to run ads or monetize their content.

Consulting

Accenture is discontinuing its business in Russia as it “stands with the people of Ukraine,” it said.

The firm announced the move in a statement on March 3, where it thanked its “nearly 2,300 colleagues in Russia for their dedication and service to Accenture over the years.”

“We will be providing support to our Russian colleagues,” the company added.

In a similar move, Deloitte announced on March 7 that it would stop operating in Russia and Belarus.

“While we know this is the right decision, it will have an impact on Deloitte’s [approximately] 3,000 professionals located in Russia and Belarus. Like others, we know our colleagues in Russia and Belarus have no voice in the actions of their government,” the firm said.

“We will support all impacted colleagues during this transition and do all we can to assist them during this extremely difficult time.”

EY, otherwise known as Ernst & Young, also said it would remove its Russian practice from its official global network, but allow it to “continue working with clients as an independent group of audit and consulting companies.”

“EY in Russia is a team of 4,700 professionals working in 9 cities of the country. The company has been operating in the Russian market for more than 30 years,” it said on March 7.

“In light of the escalating war, the EY global organization will no longer serve any Russian government clients, state-owned enterprises or sanctioned entities and individuals anywhere in the world.”

Consulting and accounting firm KPMG International said that its “Russia and Belarus firms will leave the KPMG network.”

“KPMG has over 4,500 people in Russia and Belarus, and ending our working relationship with them, many of whom have been a part of KPMG for many decades, is incredibly difficult,” the company said. “This decision is not about them – it is a consequence of the actions of the Russian Government. We are a purpose-led and values-driven organization that believes in doing the right thing.”

PricewaterhouseCoopers (PwC) is also planning to break away from its Russian business.

“As a result of the Russian government’s invasion of Ukraine we have decided that, under the circumstances, PwC should not have a member firm in Russia and consequently PwC Russia will leave the network,” the “Big Four” consultancy said in a statement.

“Our main focus at PwC continues to be doing all we can to help our Ukrainian colleagues and support the humanitarian efforts,” it added.

“We are also committed to working with our colleagues at PwC Russia to undertake an orderly transition for the business, and with a focus on the wellbeing of our 3,700 colleagues in PwC Russia.”

Energy and metals

BP said it was planning to exit its 19.75% stake in Russia’s biggest oil company, Rosneft, and suspending their joint ventures — which amount to one of the biggest foreign investments in Russia.

Equinor will also begin to exit its joint ventures in Russia, the Norwegian oil and gas company announced.

“We are all deeply troubled by the invasion of Ukraine, which represents a terrible setback for the world,” said CEO Anders Opedal.

The company said it had $1.2 billion in long-term investments in Russia at the end of 2021. It has operated in Russia for more than 30 years and has a cooperation agreement with Rosneft.

Exxon pledged to leave its last remaining oil-and-gas project in Russia and not to invest in new developments in the country.

The Sakhalin-1 venture is “one of the largest single international direct investments in Russia,” according to the project’s website. An Exxon subsidiary has a 30% share, while Rosneft also owns a stake.

By quitting this project, Exxon would end more than a quarter-century of continuing business presence in Russia.

Rio Tinto (RIO) was the first major mining company to announce it was cutting all ties with Russian businesses.

“Rio Tinto is in the process of terminating all commercial relationships it has with any Russian business,” a Rio spokesman told Reuters.

The miner owns an 80% stake in Queensland Alumina Ltd in a joint venture with Russia’s Rusal International, the world’s second-largest aluminum producer. The company did not comment on how its decision to cut ties with Russian businesses would affect Queensland Alumina dealings with Rusal.

Shell is getting out of Russia and ditching its joint ventures with Gazprom, including its involvement with the moribund Nord Stream 2 natural gas pipeline.

The UK-based oil company said on February 28 it would dump its stake in a liquified natural gas facility, its stake in a project to develop fields in western Siberia and its interest in an exploration project in the Gydan peninsula in northwestern Siberia.

“We are shocked by the loss of life in Ukraine, which we deplore, resulting from a senseless act of military aggression which threatens European security,” Shell CEO Ben van Beurden said in a statement.

Shell has also decided to stop buying Russian oil and gas and will close its service station network.

A Shell gas station seen in Moscow in 2020. Andrey Rudakov/Bloomberg/Getty Images

TotalEnergies (TOT) also condemned Russia’s actions and said it would no longer provide capital for new projects in the country.

The French oil giant has done business in Russia for 25 years, and recently helped launch a major liquefied natural gas project on the Siberian coast.

Finance

Norway’s $1.3 trillion sovereign wealth fund will divest shares in 47 Russian companies as well as Russian government bonds, the Norwegian prime minister said.

Mastercard (MA) said it was suspending its network services in Russia. Cards supported by Russian banks will not work in the company’s network, and any cards issued outside of Russia will not work within the country.

The credit giant, which has operated in Russia for more than 25 years, had previously announced that it had “blocked multiple financial institutions” from its network as a result of anti-Russian sanctions, and would “continue to work with regulators in the days ahead.”

Visa (V) said it is suspending all of its operations in Russia. It will end all Visa (V) transactions within its borders, and Visa (V) cards issued in Russia will no longer work outside of the country. In addition, all Visa (V) cards worldwide “will no longer work within the Russian Federation,” Visa (V) said.

American Express (AXP) said in a statement that globally issued American Express (AXP) cards will no longer work in Russia, and cards issued in Russia won’t work outside the country. The company also said it is ending its business operations in Belarus.

Moody’s said it is suspending commercial operations in Russia. Its investors service will “maintain analytical coverage for existing ratings from outside Russia.”

Goldman Sachs (GS) became the first major Wall Street bank to announce plans to exit Russia after the invasion of Ukraine. “Goldman Sachs (GS) is winding down its business in Russia in compliance with regulatory and licensing requirements,” a Goldman Sachs (GS) spokesperson told CNN.

JPMorgan Chase (JPM), America’s largest bank, said it is “actively unwinding” its Russian business and not pursuing any new businesses in the country. JPMorgan cited “compliance with directives by governments around the world” for its decision.

Western Union (WU) said in a statement that it is suspending operations in Russia and Belarus. “We have thoroughly evaluated internal and external considerations, including the consequences for our valued teammates, partners, and customers,” the company said. “Ultimately, in light of the ongoing tragic impact of Russia’s prolonged assault on Ukraine, we have arrived at the decision to suspend our operations in Russia and Belarus.”

Citigroup (C) expanded its exit from Russia, saying it’s going to stop soliciting new clients. In pulling out of the country, Citi said it will “include other lines of business and continue to reduce our remaining operations and exposure,” according to a company blog post from Executive Vice President of Global Public Affairs Edward Skyler. Citi noted that pulling its operations “will take time to execute” and that it is assisting multinational corporations.

PayPal (PYPL) CEO Dan Schulman said the company is suspending services in Russia.

“The PayPal community will remain steadfast in our humanitarian efforts to care for those in Ukraine who are experiencing devastating violence and tragic loss,” Schulman said.

Food and beverage

AB InBev, the maker of Budweiser and other beer brands, said it has “requested the controlling shareholder” of its Russia operations to suspend the license for the production and sale of Bud in the country. The company said it’s also “forfeiting all financial benefit” from its joint venture operations. Employees will still be paid.

Burger King said it is pulling corporate support from its businesses in Russia. Restaurant Brands International, which owns the burger chain, said it “has suspended all of its corporate support for the Russian market, including operations, marketing and supply chain.” That doesn’t necessarily mean that Burger King restaurants will be closed in Russia, however, as the company said the chain’s roughly 800 locations there are “fully franchised and managed by a local master franchisee.” This means that the company cannot simply pull the plug on those restaurants as other brands such as McDonald’s have done.

Coca-Cola (COKE) said that it is “suspending its business in Russia.” The company stated that “our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine,” adding that it will monitor the situation as things change.

Heineken will stop producing and selling beer in Russia. The brewer announced on March 9 that it would “take immediate steps to ring-fence” its Russian business, “to stop the flow of monies, royalties and dividends” out of the country. The beverage giant, which sells into more than 190 countries, had already announced a suspension on new investments and exports to Russia. “We are assessing the strategic options for the future of our Russian operations,” it said in a statement. “We see a clear distinction between the actions of the government and our employees in Russia.”

McDonald’s is temporarily closing its Russian restaurants. Eighty-four percent of McDonald’ locations in Russia are operated by the company, according to the document. Russia’s restaurants, along with another 108 in Ukraine, all operated by McDonald’s, accounted for 9% of the company’s revenue in 2021.

Nestle (NSRGF) is suspending all capital investment in Russia and halting advertising in the country.

“We are working hard to help keep food available to the people, be it on store shelves or through donations of essential foods and beverages like baby food, cereals, soup and noodles to those in need across the region,” the company said in a statement.

PepsiCo said it is suspending the sale of Pepsi-Cola and global beverage brands in Russia, but will continue to sell some of its essential products.

PepsiCo CEO Ramon Laguarta said that Pepsi is suspending capital investments, ads and promotional activity in Russia. But PepsiCo will continue to sell some of its products, including baby formula, baby food, milk and other dairy options.

“We have a responsibility to continue to offer our other products in Russia, including daily essentials,” Laguarta said. “By continuing to operate, we will also continue to support the livelihoods of our 20,000 Russian associates and the 40,000 Russian agricultural workers in our supply chain as they face significant challenges and uncertainty ahead,” he added.

Starbucks CEO Kevin Johnson said that “we have decided to suspend all business activity in Russia,” in a message to employees. He added that “our licensed partner has agreed to immediately pause store operations and will provide support to the nearly 2,000 [employees] in Russia who depend on Starbucks for their livelihood.” Johnson added that Starbucks is halting shipment of all Starbucks products to Russia.

Yum Brands (YUM), which has 1,000 KFC and Pizza Hut franchises in Russia, said it would suspend all investment and restaurant development in the country. The company said it would “assess additional options” and redirect all profits from operations in Russia to humanitarian efforts.

Hospitality

Hyatt (H) is halting development in Russia and new investments there following the invasion of Ukraine. Hyatt (H) said it continues to “evaluate hotel operations” in Russia while complying with sanctions and US government directives.

Hilton (HLT) has shut down its corporate office in Moscow and is suspending all new development activity in Russia, the hotel company announced Wednesday. The moves will not end the Hilton (HLT) brand in Russia, where there are 26 Hilton (HLT) hotels. The company does not own any hotels in Russia. The 26 Hilton (HLT) hotels in Russia are managed or franchised and represent a small percentage of the company’s worldwide footprint of more than 6,800 properties, a spokesperson said.

Marriott (MAR) has closed its corporate office in Moscow, and paused the opening of upcoming hotels and all future hotel development and investment in Russia.

“Our hotels in Russia are owned by third parties and we continue to evaluate the ability for these hotels to remain open,” it added.

Industrials

3 said it has halted operations in Russia following the invasion of Ukraine.

Dow (DOW) has suspended all purchases of feedstocks and energy from Russia, and says it “significantly reduced its operations and product offerings” in the country. Dow (DOW) has also stopped all investments in the region, and is only supplying limited essential goods in Russia, including food packaging, hygiene, cleaning and sanitation products and household goods.

General Electric (GE) suspended most of its operations in Russia, with the exception of “providing essential medical equipment and supporting existing power services.”

John Deere (DE), the world’s largest agriculture equipment maker, has halted shipments of its products to Russia. A Deere spokesperson said the only equipment produced in Russia is at a small factory in Orenburg, Russia that makes seeding and tillage equipment.

Caterpillar said on March 9 that it is suspending operations in its Russian manufacturing facilities.

“Operations in Russia have become increasingly challenging, including supply chain disruptions and sanctions,” the manufacturing giant said in a statement.

Media & entertainment

DirecTV is cutting ties with RT.

A spokesperson for the US satellite carrier told CNN Business that it had already been reviewing whether to renew the outlet’s carriage agreement, which was due to expire later this year. Russia’s war on Ukraine sped up its decision, according to the representative.

Disney (DIS) is also suspending the release of its theatrical films in Russia, citing “the unprovoked invasion of Ukraine.”

The entertainment giant had multiple films set for release in Russia in the coming months. That includes Marvel’s “Doctor Strange in the Multiverse of Madness” on May 5 and Pixar’s “Lightyear” on June 16.

A shopper opening an umbrella featuring Disney Princesses at the Central Children's Store in Moscow's Lubyanka Square in 2017. Valery Sharifulin/TASS/Getty Images

“We will make future business decisions based on the evolving situation,” a Disney spokesperson said.

WarnerMedia said on February 28 that it would pause the release of “The Batman” in Russia.

The film is one of the biggest blockbusters of the year, and is being released in most countries by Warner Bros. which, like CNN, is a unit of WarnerMedia.

A company spokesperson said that the decision was made “in light of the humanitarian crisis in Ukraine,” and that the company hoped “for a swift and peaceful resolution to this tragedy.”

WarnerMedia is also pausing all new business in Russia, ceasing broadcast of its channels, halting all new content licensing with Russian entities, and pausing planned theatrical and games releases.

Retail

Crocs said March 9 that it will “pause its direct-to-consumer business, inclusive of e-commerce and retail operations, in Russia.” It will also pause “the importation of goods into the country.”

Estée Lauder Companies said March 7 that it will “suspend all commercial activity in Russia, including closing every store we own and operate, as well as our brand sites and shipments to any of our retailers in Russia.” The company had already suspended business investments and initiatives in Russia, it said in a statement.

Fast Retailing announced March 10 that it was suspending Uniqlo’s business activities in Russia.

The turnaround came just days after Tadashi Yanai, CEO of the Japanese group, vowed to keep operating there, calling clothing a basic human necessity.

Now, “it has become clear to us that we can no longer proceed,” Fast Retailing said in a statement, citing “a number of difficulties.”

The company “is strongly against any acts of hostility,” it added. “We condemn all forms of aggression that violate human rights and threaten the peaceful existence of individuals.”

H&M (HMRZF) will pause all sales in Russia.

In a statement, the company said that it was “deeply concerned about the tragic developments in Ukraine, and stands with all the people who are suffering.”

The clothing giant’s stores in Ukraine are already closed due to safety concerns.

H&M Group, which operates a number of brands, had 168 stores in Russia as of last November, according to its website.

Ikea, the world’s largest furniture company, is closing its 17 stores in Russia. The company said the conflict is having a “huge human impact” and is “resulting in serious disruptions to supply chain and trading conditions.” In addition to pausing its retail and manufacturing operations in Russia, it will suspend all trade with the country and its ally, Belarus.

Ikea said 15,000 workers would be directly affected by the shutdown in the region. The company will continue to pay them, at least for the time being.

Imperial Brands (IMBBY), one of the world’s largest tobacco players, will sell off its Russian business.

The company behind Winston and Gauloises cigarettes says its operations in Russia comprise 1,000 employees in sales and marketing, as well as a factory in the city of Volgograd.

Imperial will “continue to pay their salaries until any transfer is concluded,” it said in a statement.

Inditex, the parent company of Zara, said it is pausing operations in Russia and closing 502 stores in the country. In a statement, the company said Russia accounts for about 8.5% of its earnings before interest and tax.

Mothercare is suspending business in Russia and stopping shipments there.

“Our local partner has confirmed that it will be immediately pausing operations in some 120 stores and online,” it said on March 9.

Russia accounts for around 20% to 25% of sales for the retailer, which specializes in goods for parents and babies.

Mondelez (MDLZ) said it would scale back all non-essential activities in Russia “while helping maintain continuity of the food supply.” The company said it would focus on “basic offerings,” and discontinue all new capital investments and suspend a advertising spending in the country.

German sports company Puma said it is suspending operations of all of its stores in Russia. The company said it operates more than 100 stores in the country.

Luxury fashion house Prada is suspending its retail operations in Russia.

Procter & Gamble (PG) CEO Jon Moeller said in a letter to employees on March 7 that the company has “discontinued all new capital investments in Russia” and is “suspending all media, advertising, and promotional activity.”

“We are significantly reducing our product portfolio to focus on basic health, hygiene and personal care items needed by the many Russian families who depend on them in their daily lives,” Moeller said. “As we proceed with the reduced scale of our Russian operations, we will continue to adjust as necessary.”

Unilever (UL) said it will “continue to supply our everyday essential food and hygiene products made in Russia to people in the country,” adding “we will keep this under close review.” But the company noted it is has suspended imports of its products to Russia and is stopping all investment in the country, in addition to stopping exports from there. It said it won’t profit from its presence in Russia.

Shipping goods

UPS and FedEx have suspended operations in Russia and Belarus. FedEx said it suspended operations to “support the people of Ukraine.” DHL said it has suspended inbound shipments to Russia and Belarus.

Maersk and MSC Mediterranean Shipping Company are both halting cargo bookings with Russia.

“As the stability and safety of our operations is already being directly and indirectly impacted by sanctions, new Maersk bookings to and from Russia will be temporarily suspended, with exception of foodstuffs, medical and humanitarian supplies,” the Denmark-based company said in a statement.

“We are deeply concerned by how the crisis keeps escalating in Ukraine,” the company added.

MSC, a Swiss-owned container shipping line, said its suspension would cover “all access areas, including Baltics, Black Sea and Far East Russia.”

Transportation

French train maker Alstom said that it will “suspend all deliveries towards Russia” in a statement on March 9.

The group is also suspending all future business investments in Russia, it added.

Alstom owns a 20% stake — as a capital investment — in Transmashholding (TMH), the Russian locomotives and rail equipment provider.

“There was no material business nor operational link between Alstom and TMH,” the company said. “The book value will be re-assessed as part of the fiscal year 2021/22 closing accounts.”

— Rishi Iyengar, Michelle Toh, Diksha Madhok, Chris Isidore, Vanessa Yurkevich, Paul P. Murphy, Mark Thompson, Vasco Cotovio, Peter Valdes-Dapena, Frank Pallotta, Brian Fung, Oliver Darcy, Jordan Valinsky, Aliza Kassim, Chris Liakos, Pamela Boykoff, Robert North, Anna Stewart and Blake Essig contributed to this report.

Atlanta wants to build a massive police training facility in a forest ...

CNN —

When Ram moved to the Boulder Walk neighborhood just southeast of Atlanta five years ago, it felt like finding a hidden gem: It was a diverse, affordable and family-friendly community just steps away from the local high school, bordering a forest but still a short drive from the big city; perfect for her family of five.

But she hasn’t been able to get used to hearing the daily sprays of gunfire.

“When I first moved here, it increased my anxiety,” Ram, who did not want her full name used due to privacy concerns, said. “It messed up my nerves.”

The sound comes from a nearby Atlanta police firing range. It’s unnerving, residents from several nearby neighborhoods told CNN. Worse, they worry it’s just a glimpse into what could come when local officials begin building a massive police and fire training center in their backyards. “I absolutely want the police to be well-trained,” said Joe Santifer, who lives in another neighborhood, roughly a mile away from where the facility is slated to be built. “But if they’re not being good neighbors now, what will give us the confidence that they’ll be good neighbors in the future?”

Joe Santifer poses for a portrait at Glen Emerald Rock Garden in Atlanta, Georgia, on July 22, 2022. Austin Steele/CNN

The expected $90 million, 85-acre center, announced and approved by the city of Atlanta last year, will include a shooting range, mock city and burn building, among other facilities. The Atlanta Police Foundation says the center is needed to help boost morale and recruitment efforts, and previous facilities law enforcement has used are substandard, while fire officials now train in “borrowed facilities.” The police foundation, a nonprofit established in 2003, helps fund local policing initiatives through public - private partnerships. Among those sitting on its board of trustees are leaders of UPS, Wells Fargo, The Home Depot, Equifax and Delta Air Lines.

But the plan has been met with fierce resistance from a community still reeling from monthslong demonstrations protesting police brutality and racial injustice. Some locals say the city’s announcement blindsided neighbors and the development process since has largely been a secretive one with limited input from the most affected communities.

For others, the facility poses environmental concerns at a time when the deadly impacts of climate change have become hard to ignore: The training center would carve out a chunk of forested land Atlanta leaders previously seemed to agree to preserve, though the city says officials are committed to replacing trees destroyed in construction.

Activists determined to stop the project have camped out in the forest’s trees and, despite a permit which could soon signal the start of construction, say they have no plans to leave.

A promise unkept

Atlanta and then-Mayor Keisha Lance Bottoms were in the national spotlight in 2020 as protests erupted across the country over police killings of Black people, including Rayshard Brooks, a Black man fatally shot in the back by Atlanta police.

The city’s police chief resigned and Bottoms denounced the “chaos” she said was unfolding on the city’s streets, adding she was trying to strike a “tough balance” between criticizing police officers and supporting the ones who protected the city.

In the spring of 2021, following mounting pressure over a demoralized police force, Bottoms announced plans to build a new police training academy in an unincorporated part of neighboring DeKalb County on a controversial parcel of land owned and used as a prison farm by the city for much of the 1900s, sprawling across more than 300 acres. Prisoners there were subject to harsh punishments and bleak conditions, including poor sanitation and nutrition and overcrowding, according to the Atlanta Community Press Collective, a local group of researchers and writers.

“We knew that (the training facility) was a direct response to the uprisings that took place in 2020,” said Kwame Olufemi, of Community Movement Builders, a Black member-based grassroots organization opposing the project.

The site of the proposed project, the Old Atlanta Prison Farm – where graffitied ruins now sit entwined with weeds and vines surrounded by forested land – is a “cultural landscape of memory,” say local advocates, who have long called for it to be turned into a park and memorial.

It’s also less than half a mile away from a tributary of the South River, which is one of America’s most endangered, according to nonprofit conservation group American Rivers. That’s a result of decades of neglect and pollution the area, which is overwhelmingly Black, has endured, local advocates say.

In 2017, a report authored by Atlanta’s city planning department which envisioned the prison farm as a key part of a larger effort to protect green spaces around the river was adopted into the city charter. It felt like a “unanimous promise” from city leaders to protect the land, said Joe Peery, with local volunteer group Save The Old Atlanta Prison Farm.

But in September 2021, after hearing roughly 17 hours of public comment – the majority of which was against the training center – the Atlanta City Council approved a ground lease agreement with the Atlanta Police Foundation, allowing for 85 acres of the prison farm site to be turned into the training facility while the other 265 is slated to be preserved as greenspace. (For comparison, the NYPD’s training academy is a roughly 32-acre campus; the LAPD training campus is about 20 acres.) Andre Dickens, Atlanta’s current mayor, was among the council members who voted for the lease.

“Everybody was floored,” said Jacqueline Echols, board president for the South River Watershed Alliance, an organization working to protect the river. “Just in 2017 they’d said this would be a park and a community investment.”

Jacqueline Echols stands for a portrait outside of Intrenchment Creek Park in Atlanta, Georgia, on August 3, 2022. Austin Steele/CNN

Though the land is in unincorporated DeKalb County, it’s long been owned by the city, and residents in the surrounding area don’t have a say in city elections or vote for the leaders who made this decision. “It was kind of foisted upon us,” Santifer, who lives in Glen Emerald Park, said. “That’s part of the issue: the lack of transparency, the lack of engagement with this community because frankly, they know the community doesn’t want it.”

The police foundation has said the city went through an “exhaustive review of its properties” before selecting the site, adding it is the only one owned by Atlanta big enough to accommodate the two departments’ needs. And even if another privately-controlled site was identified, the foundation has said, preparing it for development would take “decades and present taxpayers with an unwarranted financial burden.”

City spokesperson Bryan Thomas told CNN the prison farm site was “a pragmatic choice, given its adjacency, its ownership by the City and its former and continued use” by Atlanta’s police and fire rescue departments.

Other sites were explored over several years, Thomas said, adding the city engaged with a group of designers, architects and engineers about what a “first-rate training center” would require. The group eventually focused on the prison farm site since it has previously hosted training facilities, like the firing range, Thomas added.

CNN also reached out to the police foundation for comment.

After the September 2021 vote, Bottoms said she was aware of widespread opposition to the facility, but the city did not have any other site options to choose from, according to The Atlanta Journal-Constitution. The center was a move to support the city’s fire and police officers “while also focusing on sensible reform,” Bottoms, who did not run for reelection, said in a September 2021 news release.

The White House had no comment from Bottoms, who serves as senior adviser to the President for public engagement.

Activists living in trees to stop ‘Cop City’

Perhaps the loudest voices of opposition come from activists and organizers who have dubbed the plan “Cop City” and called on Mayor Dickens to cancel the lease.

“Tree sitters” and other members of the “Defend the Atlanta Forest” movement built shelters in trees to prevent the facility’s construction and have also called attention to the forest’s history, saying a police center will continue a legacy of oppression on the land. Before it was a prison farm, White settlers established slave-based plantations in the area after forcing off the Muscogee Creek tribe, according to anthropologist Mark Auslander. Forest defenders refer to it today by its Muscogee name, Weelaunee Forest, as a nod to its original inhabitants.

Members of the movement have been accused by local officials and some neighbors of using violent tactics in related opposition efforts, including allegedly setting a tow truck on fire. In May, eight protesters were arrested after a Molotov cocktail was allegedly thrown at police as authorities tried to remove them from the area, according to CNN affiliate WSB. But it did not deter their efforts. The Defend the Atlanta Forest Twitter account posted a letter in August it said was from a tree sitter. “I’ll be here keeping up the struggle,” the letter said. “My question to the (Atlanta Police Foundation) is: When will you give up?”

A person walks near the entrance to Intrenchment Creek Park in Atlanta, Georgia, on August 3, 2022. Austin Steele/CNN

The Community Movement Builders group, which also opposes the plan, would have liked to see the financial resources instead be put toward mental health, food and housing programs for south Atlanta communities, according to Olufemi.

Taxpayers will fund about $30 million of the facility’s cost in total, with the rest coming from private philanthropic and corporate donations, the city has said. Among those backing the center is the Atlanta Committee for Progress, a partnership between the mayor and the city’s top business, civic and academic leaders. Its former chairman, Alex Taylor, Chairman and CEO of Cox Enterprises, led the initial private funding campaign for the center at then-Mayor Bottoms’ request. (Cox owns The Atlanta Journal-Constitution, the city’s major daily newspaper.)

Cox Enterprises spokeswoman Sonji Jacobs told CNN in a statement, “The Atlanta Journal-Constitution has always operated with complete editorial independence, and the newspaper, in its coverage of the police training facility, has repeatedly disclosed that it is owned by Cox Enterprises.”

Atlanta Police Foundation President and CEO Dave Wilkinson wrote in a 2021 Atlanta Journal-Constitution op-ed a surge in violent crime across Atlanta since the summer of 2020 called for “more effective law enforcement,” but the city had struggled to build morale and retain employees in recent years.

Residents who are in support of the facility told CNN they wanted police to be able to train properly and hoped the development would make their communities safer and help spur economic development.

Spence Gould, a marine and resident of the Boulder Walk community for roughly a decade, said he sees the need for a training center. “I want my police force very well-trained, I want them to have all the resources that they need,” Gould told CNN. “But I also see the (Defend the Atlanta Forest) concerns because we are really wrecking the planet.”

Once the foundation has a land disturbance permit (which is still under review, according to DeKalb County) and construction begins, a fence will be put up around the site and anyone on the property “will be arrested,” Wilkinson told The Atlanta Journal-Constitution in March.

Construction is expected to begin in the late fall and the first phase of the facility is expected to open before the end of 2023, the city spokesperson said.

Amid climate crisis, advocates urge city not to cut trees

Trees are seen with hearts placed on them near the planned police development in Atlanta, Georgia, on July 22, 2022. Austin Steele/CNN

Before the mayor’s sudden announcement, the prison farm site had been a key centerpiece in another vision: the South River Forest.

The forest is a 3,500-acre network of connected green spaces across parts of Atlanta and DeKalb County, which advocates say is desperately needed. Despite being known as the “city in a forest,” Atlanta has massive disparities in green space, with fewer and smaller parks in predominantly Black areas like this one. And with a population size expected to sharply increase in the coming decades, the benefits the forest can provide – floodplain restoration, habitat expansion and tree canopy protection, among others – will be critical, the Nature Conservancy has said.

In August 2021, more than a dozen environmental organizations, including the Sierra Club’s Georgia Chapter, wrote an open letter to city leaders urging them not to lease the prison farm site to the police foundation, arguing ragmenting the South River Forest will leave surrounding communities vulnerable to adverse impacts, like stormwater flooding – a problem already worsening because of climate change.

“The forest serves as the city’s lungs,” said Nina Dutton, chair of the Sierra Club Metro Atlanta Group. “Forests capture carbon, they clean the air … they mitigate flooding and prevent erosion and they help keep the city cool. Breaking up this area of forest would reduce the amount of forest that’s available to help us in those ways.”

The forest vision could also spur economic development in long neglected areas and reconcile decades of environmental injustice with investment, said urban planner Ryan Gravel. “If you live in a community in the South River Forest, you’re more likely to live within walking distance of a landfill or a prison than anywhere else in metro Atlanta, by far,” he said. “You’re talking about an area that has historically been treated as a dumping ground.”

Discarded bags of trash are seen along a hole in a fence that leads into a proposed police development in Atlanta on August 15, 2022. Austin Steele/CNN

Thomas, the city’s spokesperson, said training facilities will make up less than half the site, while the rest will be green space open to the public and include walking trails and picnic areas.

Much of the land to be developed has previously been cleared of trees and the parts including forest cover are “overwhelmingly dominated by invasive species,” devoid of thick forest, Thomas added. The Atlanta Police Foundation has committed to replace any hardwood tree destroyed in construction with 10 new ones and replace any invasive species with hardwood trees, the spokesperson added.

But advocates with Save the Old Atlanta Prison Farm argue most of the land has been reforested and reducing the forest in any way would also reduce the economic opportunities for the surrounding communities. “The noise and smoke coming from the Police Training Facility would further erode that impact,” the group has said.

Although the training center will put a dent in advocates’ plans, many are still determined to see the South River Forest come to life. An ongoing initiative by the Nature Conservancy and the Atlanta Regional Commission is collecting community input about the forest’s future and is slated to wrap up in the coming weeks.

“This could be the first step in starting to reverse some of the discrimination that this part of the city has seen over the last decades,” Santifer, who is among the project managers of that initiative, said.

‘Violations of our environment and our neighborhoods’

DeKalb County leaders could soon take a vote on a resolution introduced by county commissioner Ted Terry calling for an environmental assessment of the site and a noise study for the proposed center – and asks developers to reconsider the location if their plan cannot satisfy environmental standards. (Atlanta Police Foundation officials have said the center will “be built with 21st century EPA standards and controls.”)

Terry recently said on Twitter county leaders have received more public comment from residents on this issue than any other during his tenure. “All opposed,” he wrote.

Dickens, Atlanta’s mayor, told the New Yorker recently an advisory committee created in the aftermath of the lease approval offered a way for public input on the project. But critics of the group note its members were appointed by local officials and don’t have the power to hold the police foundation and developers accountable to the community’s concerns.

One member was voted out after publishing an opinion piece criticizing the police foundation and project developers for misleading the community and avoiding their environmental due diligence – including by never investigating the possibility of unmarked graves on the prison farm land.

A "Defend the Atlanta Forest" sign is seen in Atlanta, Georgia, on July 22, 2022. Austin Steele/CNN

The committee isn’t meant to serve as a watchdog, but rather to make recommendations on changes or adjustments to the development which would benefit surrounding communities, said committee chair Alison Clark. And so far, the foundation has adopted all the group’s recommendations, she added, including relocating the center’s firing range further away from residential areas.

Clark, who has lived in the Boulder Walk neighborhood for roughly eight years, told CNN she is in favor of the training facility. She agrees the area has long been used as a “dumping ground” for unpopular developments like landfills, and hopes the center can help economically lift the area, bring in new vendors and also boost police presence. “At the end of the day, I think that’s a win-win for the community,” she said.

But ahead of the DeKalb County commissioners’ vote, county leaders heard from residents who said the project remained highly unpopular among the surrounding communities and urged for the approval of Terry’s resolution.

“Residents in the area, who are predominantly Black and brown, often low-income, have been left out of the decision-making process and their voices have been ignored,” DeKalb County resident Brad Beadles said during an August meeting, according to a summary posted on the county’s website. “No one should have to be subjected to such clear harmful violations of our environment and our neighborhoods.”

Terry told CNN he is taking more feedback from community members on the resolution and expects a vote on it from the commission next month.

Starbucks is planning to phase out its iconic cups | CNN Business

New York CNN Business —

Starbucks has a love-hate relationship with its cups.

The company’s white — or sometimes holiday-themed — logo-emblazoned paper cups for hot drinks, and clear plastic cups for cold drinks are instantly recognizable symbols of the brand. But that’s not entirely a good thing.

“Our cup is ubiquitous, and we love that,” said Michael Kobori, Starbucks chief sustainability officer. “But it is also this ubiquitous symbol of a throwaway society.”

That’s because the cups are disposable. When they are thrown away, the cups end up in landfills or as litter in streets and waterways. Some might be recycled, but recycling is an imperfect option — recyclable items still end up in landfills.

The best solution? “Eliminating the disposable cup,” Kobori said. He called that option “the holy grail.”

The traditional Starbucks disposable cup. Joe Raedle/Getty Images

By 2025, the company wants every customer to be able to either use their own mug easily or borrow a ceramic or reusable to-go mug from their local Starbucks. That could mean rolling out more borrow-a-mug programs that require a deposit.

Starbucks is also planning, by the end of next year, to let customers use their own personal mugs at every Starbucks in the United States and Canada, even if they order ahead or use the drive-thru.

The goals don’t mean Starbucks will get rid of the paper and plastic cups. But they do want to make that option less attractive. That won’t be easy to do, as most Starbucks customers are used to that simple, single-use option. But the company has a plan.

Testing out Borrow-A-Cup programs

Examples of Starbucks' reusable cups. Courtesy Starbucks Coffee Company

To phase out disposables, Starbucks is considering a widespread borrow-a-cup program, in which customers pay a deposit for a durable cup that they take with them and drop back off after use.

Amelia Landers, a vice president of product experience whose team is responsible for sustainable packaging at Starbucks, expects that this model will resonate more with customers compared to other sustainability efforts.

“I think that will take the lead,” she said. “We are testing a number of different [borrow-a-cup] programs around the globe,” including “20 different iterations and in eight different markets.”

In Seattle, Starbucks tested a beta version of such a program last year.

“We developed a new cup that had a very low environmental footprint, was lightweight polypropylene, ultimately recyclable and could replace 100 single-use disposable cups,” Landers explained.

For that test, customers paid a $1 deposit, and had to return the cup to a smart bin located in the store to get their dollar back. Customers also earned rewards for using the cup.

Kim Davis, who manages a store where the program was tested, said that customers were curious about the bin, and once baristas explained it to them, many were on board with the concept.

“The excitement and engagement was really high among my customers and my [employees],” she said. For baristas, the process was straightforward enough — they just used the reusable cup instead of a regular one to prepare drinks. A third-party company collected the dirty cups for cleaning, so baristas didn’t have to worry about that part of the process.

Starbucks (SBUX) is running similar pilot programs in Japan, Singapore and the United Kingdom.

The model is the most promising because it’s the easiest to integrate into customers’ daily lives.

You don’t have to remember to bring your own reusable mug or, if you do, get stuck with a dirty cup for the rest of the day. And you don’t need to sit and sip your coffee at a Starbucks, something most people don’t have time for on a weekday morning.

But that model is still just being tested, so the company wants to encourage the use of reusable mugs in other ways.

Bringing back the personal cup

Starbucks wants all customers to be able to use reusable mugs and glasses at its stores. Courtesy Starbucks Coffee Company

Early in the pandemic, when people feared that the coronavirus could spread easily on surfaces, Starbucks barred customers from bringing their own mugs. It has since brought back the option and is now trying out ways to make it more attractive.

“We’re testing an incentive on the personal cup to go up from where it is today — from 10 cents to 50 cents,” Landers said. “We are also going to be testing a disposable cup fee.” She added that the chain is also experimenting with discounted prices for people who use a Starbucks-provided ceramic mug in stores.

That’s simple enough. But it gets a lot more complicated when customers bring their own cups to the drive-thru or when they order ahead through the Starbucks app.

Years ago, ordering ahead or using a drive-thru might have been a rare enough occasion. But since the pandemic, more customers have been coming through the drive-thru or ordering ahead.

During a February analyst call, Starbucks CFO Rachel Ruggeri said that Starbucks’ drive-thru windows and its mobile orders together account for about 70% of sales at US stores operated by the company.

So to achieve its zero-disposable-cups goal, Starbucks needs to figure out how to get reusables through a drive-thru, and make them available to customers who order ahead.

To that end, Starbucks has been testing different options at its innovation center.

“We’ve got mock stores set up,” said Landers. “We have different versions of the drive-thru layout.”

Customers can simply give their cups to baristas at the drive-thru window. But Starbucks is exploring ways to make the process smoother.

One option is to allow customers to drop off their cups at an earlier point in the drive-thru lane so that the drink is ready in a personal cup once they swing around to the window, Landers said. Another is for baristas to pre-make drinks when customers place their orders, and pour them into personal tumblers at the window or when they arrive at a store to pick up their order. Starbucks is also testing out cup-washing stations in stores.

The team is trying “different things, over and over again,” to figure out what might work, she said. “We’re right now in the middle of all of that work.”

It’s crucial for Starbucks’ mobile order and drive-thru experiences to be seamless. After just a few sluggish pickups, customers may take their business elsewhere.

But Starbucks also has to be careful not to put too much additional burden on employees, who already have to prepare complicated, customized orders at high speeds.

That’s especially important now. Workers across the country are considering unionization, going against the wishes of the company’s leadership.

A Starbucks, in Buffalo, New York, was the first to vote to unionize in December. Employees at a handful of other stores have since made similar efforts and several Starbucks around the country are preparing for their own votes.

If the company’s initiative leads to the end of paper and plastic cups at Starbucks, it will be quite an achievement.

“We know that even the most ardent of sustainability champion customers, they really don’t change their behavior all that easily,” Landers said. “Even though they really, really want to.”

Twitter layoffs: Elon Musk's Twitter cuts jobs across the company ...

CNN Business —

Twitter on Friday laid off thousands of employees in departments across the company, in a severe round of cost cutting that could potentially upend how one of the world’s most influential platforms operates one week after it was acquired by billionaire Elon Musk.

Numerous Twitter employees began posting on the platform Thursday night and Friday morning that they had already been locked out of their company email accounts ahead of the planned layoff notification. Some also shared blue hearts and salute emojis indicating they were out at the company.

By Friday morning, Twitter employees from departments including ethical AI, marketing and communication, search, public policy, wellness and other teams had tweeted about having been let go. Members of the curation team, which help elevate reliable information on the platform, including about elections, were also laid off, according to employee posts.

“Just got remotely logged out of my work laptop and removed from Slack,” one Twitter employee said on the platform. “So sad it had to end this way.”

Another employee said that she and other members of Twitter’s human rights team had been laid off. The employee added that she is proud of the team’s work “to protect those at-risk in global conflicts & crises including Ethiopia, Afghanistan, and Ukraine, and to defend the needs of those particularly at risk of human rights abuse by virtue of their social media presence, such as journalists & human rights defenders.”

Simon Balmain, a former Twitter senior community manager who was laid off Friday, said in an interview with CNN that he lost access to Slack, email and other internal systems around 8 hours before receiving an email Friday morning officially notifying him that he’d been fired. He added that the lay off email “still didn’t provide any details really” about why he’d been let go.

“The waves of annoyance and frustration and all that stuff are absolutely mitigated by the extreme solidarity we’ve seen from people that are in the company, people that are in the same position, people that left the company in years gone by,” Balmain said. “It’s like a giant support network, which has been absolutely amazing.”

One Twitter employee who was laid off told CNN Friday that some workers are relieved to have been let go. “For me, being safe would’ve been punishment,” the employee said.

While Twitter employees were posting about being laid off, Musk on Friday appeared for a friendly interview at an investor conference and spoke about making cheaper electric vehicles and his ambitions to go to Mars. During the interview, Musk said of Twitter, “I tried to get out of the deal,” but then added, “I think there is a tremendous amount of potential … and I think it could be one of the most valuable companies in the world.”

The interviewer said that Musk had laid off “half of Twitter” and Musk nodded, although he did not comment on the remark.

(In a series of tweets Friday evening, Yoel Roth, head of Twitter’s trust and safety team, confirmed overall headcount was cut by roughly 50%. The layoffs eliminated 15% of the company’s trust and safety team, leading to reductions in customer service but little change to content moderation, according to Roth. )

In his interview, Musk appeared to frame the sweeping layoffs as necessary for a company that, like other social media firms, was experiencing “revenue challenges” prior to his acquisition as advertisers rethink spending amid recession fears.

Musk also said “a number of major advertisers have stopped spending on Twitter” in the days since the acquisition was completed.

Elon Musk spoke at an investment conference Friday morning as employees at Twitter, which he now owns, were receiving notifications that they had been laid off from the company. Baron Capital

Twitter had about 7,500 workers prior to Musk’s takeover, meaning roughly 3,700 employees were laid off. The cuts come as Musk attempts to improve the company’s bottom line after taking out significant debt financing to fund his $44 billion acquisition.

The email sent Thursday evening notified employees that they would receive a notice by 12 p.m. ET Friday that informs them of their employment status.

“If your employment is not impacted, you will receive a notification via your Twitter email,” a copy of the email obtained by CNN said. “If your employment is impacted, you will receive a notification with next steps via your personal email.”

The email added that “to help ensure the safety” of employees and Twitter’s systems, the company’s offices “will be temporarily closed and all badge access will be suspended.”

The email concluded acknowledging that it will be “an incredibly challenging experience to go through” for the workforce.

Several Twitter employees on Thursday night filed a class action lawsuit alleging that Twitter is in violation of the federal and California Worker Adjustment and Retraining Notification Act (WARN Act) after laying off some employees already. The complaint was later amended to acknowledge that while several of the plaintiffs did ultimately receive sufficient notice of their termination under the WARN Act, Twitter still allegedly failed to give sufficient notice in the case of some employees.

The WARN Act requires that an employer with more than 100 employees must provide 60 days’ advanced written notice prior to a mass layoff “affecting 50 or more employees at a single site of employment.”

“Elon Musk, the richest man in the world, has made clear that he believes complying with federal labor laws is ‘trivial,’” Attorney Shannon Liss-Riordan, who filed the lawsuit, said in a statement to CNN. “We have filed this federal complaint to ensure that Twitter be held accountable to our laws and to prevent Twitter employees from unknowingly signing away their rights.”

WARN notices were filed by Twitter on Friday for nearly 1,000 impacted employees at the company’s various California offices.

Separately, other labor lawyers told CNN Friday they had begun receiving inquiries from Twitter employees questioning whether their terminations may have been unlawfully discriminatory or retaliatory.

“Former Twitter employees have reached out to us regarding their layoffs and their circumstances, and so we’re looking at all the issues — beyond appropriate notice — and to make sure the employee wasn’t laid off due to their membership in a protected category,” said Chauniqua Young, a partner at the law firm Outten & Golden.

Beyond the potential for lawsuits arising from the layoffs, other legal experts say Musk’s handling of the cuts may well create further problems for him down the road — whether in terms of attracting future talent or by keeping remaining workers satisfied.

“Once you treat people like this, they remember that,” said Terri Gerstein, a fellow at Harvard Law School’s Labor and Worklife Program and Economic Policy Institute. “Of the people remaining, it is a certainty that none of them feel secure in their job, and I would be shocked if the remaining people were not updating their resumes right now or talking with each other about starting a union.”

Musk started his tenure at Twitter by firing CEO Parag Agrawal and two other executives, according to two people familiar with the decision.

And in less than a week since Musk acquired the company, its C-suite appears to have almost entirely cleared out, through a mix of firings and resignations. Musk has also dissolved Twitter’s former board of directors.

Many staffers on Friday summed up their feelings with a hashtag, #LoveWhereYouWorked, a past-tense play on one previously often used by Twitter employees.

- Brian Fung and Shawn Nottingham contributed to this report

Donie O'Sullivan Clare Duffy
Donie O'Sullivan
Clare Duffy

Jim Inhofe: Oklahoma GOP senator announces resignation and ...

CNN —

Oklahoma Sen. Jim Inhofe, a leading conservative Republican and veteran of the Senate, announced on Friday that he will resign in January 2023, sparking a special election this November.

“It is bittersweet, but with a clear heart, that Kay and I announce that at the end of the year, I will retire from the United States Senate,” said Inhofe in a statement, referring to his wife.

Inhofe, 87, is a defense hawk who serves as the top Republican on the Senate Armed Services Committee. He is also a former chairman of the Senate Environment and Public Works Committee, where he drew the ire of environmentalists over his denunciations of climate change as a “hoax.”

Inhofe won reelection as recently as 2020, and had already planned to make his current term his last. His resignation will likely spark a furious GOP battle for a seat to represent one of the nation’s most conservative states.

In an interview with The Oklahoman, Inhofe endorsed his top aide, Luke Holland, for the November election to replace him.

A number of Oklahoma Republicans are viewed as potential contenders for the seat, including Holland, Lt. Gov. Matt Pinnell, former state House speaker T.W. Shannon, Oklahoma attorney general candidate Gentner Drummond and Reps. Markwayne Mullin and Kevin Hern.

“Senator Inhofe’s early retirement has sent shockwaves through every political circle today,” said Oklahoma GOP strategist John Fritz. “This is going to be a bloodbath of stellar conservatives fighting it out in the primary. The one thing we know for certain is that Hell will freeze over before Democrats win this U.S. Senate seat.”

In his statement, Inhofe noted his 55-year political career – from the state legislature to Tulsa mayor to the US House and Senate – began after he realized he had to visit 27 government offices to obtain a dock permit.

“If we wanted the government to work for the people, not against the people, it was up to us to make a change,” said Inhofe.

Senate GOP Leader Mitch McConnell praised Inhofe after the announcement.

“I know the Inhofes will be glad to have more time with their consummate family man,” said McConnell. “And while the Senate will miss one of its foremost experts on defense policy, I am glad our friend will continue to serve with us through the end of this Congress.”

The New York Times first reported that Inhofe planned to resign.

This story and headline have been updated with additional developments Friday.

Alex Rogers Manu Raju
Alex Rogers
Manu Raju

Biden administration moves to restrict nicotine levels in tobacco ...

CNN —

The Biden administration signaled Tuesday that it will develop a proposed rule to establish a maximum nicotine level in cigarettes and other tobacco products that will essentially lower the amount of nicotine in products available in the US. It is a step that no other administration has taken before and is one public health experts say would be transformative if enacted.

“This is the first time there’s ever been a serious discussion with a commitment from the highest levels of government to tackle tobacco in a way that is transformative,” said Matthew Myers, the president of the Campaign for Tobacco-Free Kids. “It will transform public health in the United States and literally do more to reduce cancer, cardiovascular disease and respiratory disease than any other set of actions the government could take.”

The new initiative was released as a part of what is called the administration’s “unified agenda.” Released twice a year, this is a set of planned federal regulatory actions.

The rule says that the effort to lower nicotine in tobacco products would reduce people’s addiction to smoking and give people a better shot at quitting. Reducing the amount of nicotine in these products would also likely prevent people from starting smoking.

“Addiction to nicotine in combusted products is the main driver of sustained use of these products. In fact, more than half of adult cigarette smokers make a serious quit attempt each year (quitting for at least a day), but most do not succeed due to the addictive nature of cigarettes. Such a product standard, if proposed and then finalized after a thorough process, would make those products minimally- or non-addictive,” the US Food and Drug Administration said in a statement Tuesday.

“Nicotine is powerfully addictive,” FDA Commissioner Dr. Robert Califf said in the statement. “Lowering nicotine levels to minimally addictive or non-addictive levels would decrease the likelihood that future generations of young people become addicted to cigarettes and help more currently addicted smokers to quit.”

Nicotine is the chemical in tobacco products that is highly addictive. The chemical can change the way the brain works, making people crave more of it, according to the FDA.

Studies show that when the nicotine content of cigarettes is reduced, people don’t seem to smoke more to compensate for the missing nicotine. The lower nicotine level cigarettes also seem to be effective in alleviating withdrawal, studies show.

“If you don’t have high enough levels of nicotine, it seems that you don’t trigger as strong as an addiction,” Dr. Rose Marie Robertson, the deputy chief science officer of the American Heart Association, said. “I’ve had patients in the past who had been addicted to both nicotine and heroin at different times in their lives and one of them said it was much tougher to quit nicotine.”

Surveys show that two-thirds of young smokers say they want to quit. Lowering nicotine levels could make a big difference.

“If we could keep them from being addicted in the first place, that would be good and this has the potential to really produce a dramatic change in tobacco use,” Robertson said.

About 480,000 people in the US die from smoking-related disease, according to the US Centers for Disease Control and Prevention. It is the leading cause of preventable death in the US.

The number of smokers has declined significantly in the past 15 years, but as of 2020, still about 12.5% of US adults, or 30.8 million people smoked cigarettes. More than 16 million live with a smoking-related disease according to the CDC.

“This is an important step forward for public health,” said Erika Sward, the assistant vice president of national advocacy for the American Lung Association.

The FDA estimates reducing nicotine levels could prevent more than 33 million from becoming regular smokers and about 5 million additional smokers would quit within a year of lowering nicotine levels and 134 million years of life would be gained.

Even with low nicotine products, not all smoking-related disease would disappear. The low nicotine cigarettes still contain the harmful products that can cause disease.

“Much of the harm comes from inhaling the combusted smoke. Combusted smoke is still there in low nicotine cigarettes,” Robertson said. “Because they are low on nicotine, does not mean they are low in anything else.”

So, there would still need to be a public health effort to get people to quit, Robertson said. Lowering the nicotine content could certainly help with that.

The regulations won’t happen overnight, experts say, and there’s no guaranteed that it would be enacted.

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Next, the FDA will have to issue a notice of proposed rulemaking by May 2023 and there would be time for public comment. That process could take at least a year. Then, it is “very likely,” experts say, that the tobacco companies would then sue to keep the rule from going into place.

Myers and other tobacco experts said they hope the FDA and the Biden administration will move quickly on this initiative.

“We have seen how slow things move in many areas with tobacco and many impediments to action can arise,” said Myers. “We just have to make a commitment to make sure it gets done.”