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Harvard endowments bet the farm on Brazil

By Bloomberg
02 March 2018   |   7:57 am
Chris Ailman, chief investment officer at California State Teachers' Retirement System, and Bloomberg's Jason Kelly discuss the strategy and performance of Harvard's endowments.

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Hundreds of firefighters are battling the Windy Fire to protect several groves of giant sequoias in the United States. The fire has already charred 25,000 acres (10,000 hectares), and a number of separate fires are converging on the California woodland that is home to the huge trees.
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The town of Greenville, California was completely burned to the ground almost two months ago when the Dixie Fire tore through the area. Buildings lay in ruins, cars sit scorched and trees stand charred after what the governer called a "climate-induced" wildfire. Climate change amplifies droughts, creating ideal conditions for wildfires to spread out of control and inflict unprecedented material and environmental damage.
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The Social Democrats' narrow victory in Germany's federal elections suggests the country could be heading into a more progressive future. As coalition talks get started, business leaders want their priorities heard.
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An oil spill in Southern California closed beaches and led authorities to cancel the last day of the Pacific Air Show. At least 126,000 gallons (98,420 liters) of oil spilled off the coast of Orange County.
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Though discussions at COP26 are usually among national governments, the US state of California sent its own delegation to the UN climate conference in Glasgow. California is already feeling the effects of climate change and in recent years it has taken aggressive action to reduce greenhouse gases, with a target of 100 percent clean electricity by 2045. Our correspondents Valérie Defert, Pierrick Leurent and Ryan Thompson report from the Golden State.