Good morning, here’s your Wednesday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.
German migrant reunification ban expires
A new act will today come into effect that allows migrants that have entered Germany since 2016 to apply to relocate their immediate family members to Europe.
A ban on migrants applying for reunification has been in effect since March 2016. It was issued in an attempt to curb the influx of refugees arriving from the Middle East during the height of Islamic State’s reign of terror.
The new act is unlikely to result in any drastic increase in the number of refugees arriving in Germany. Some 34,000 refugees have made inquiries regarding reunification so far, with the number of family members that can enter Germany limited to 1,000 a month.
However, Europe’s refugee crisis placed a strain on German Chancellor Angela Merkel’s leadership. This was the result of the increase in crime and threat to national security that some argue it led to. The expiration of the ban threatens to reignite the issue in German parliament once again.
Tesla announce results after Musk’s rough month
Electric car manufacturer Tesla will today announce its second quarter results via a webcast scheduled for 10:30pm London time.
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The results come following a difficult month for company co-founder and CEO Elon Musk. The famous entrepreneur was criticised for offering a hand in the search for the Thai boys that went missing in a cave complex earlier this month. Among other things, he accused one of the divers involved in the rescue of being a paedophile. These incidents have led many to call for him to stand down as the company’s CEO.
Investors could soon be calling for his head too. Analysts have predicted disappointing results for Tesla, predicting both lower than expected revenues estimates and wider losses.
Analysts expect the company to announce a net loss of $2.79 per share.
Humanity exhausts Earth’s resources
Happy Earth Overshoot Day! Today marks the day that humanity has taken more from nature since January than our planet can renew in the entirety of 2018.
Humans use roughly 70% more resources each year than the earth can regenerate. This is a result of overfishing, excessive deforestation, and emitting more harmful gasses than the atmosphere can absorb.
Earth Overshoot Day helps to raise awareness of the need to create a sustainable future, offering possible solutions related to energy use, food growth consumption and population increase.
The Global Footprint Network has been calculating the day when humanity exhausts nature’s resources each year since 2006. The first Earth overshoot Day fell in October, but has continued to fall shorter ever since.