Pact will require ships to cut emissions

Amid the turmoil over global trade, countries around the world reached a remarkable, though modest, agreement Friday to reduce the climate pollution that comes from shipping those goods worldwide — with what is essentially a tax, no less.

An accord reached in London under the auspices of the International Maritime Organization, a United Nations agency, would require every ship that ferries goods across the oceans to lower its greenhouse gas emissions or pay a fee.

The targets fall short of what many had hoped. Still, it’s the first time a global industry would face a price on its climate pollution no matter where in the world it operates. The proceeds would be used mainly to help the industry move to cleaner fuels. Some could also go to developing countries most vulnerable to climate hazards. The accord would come into effect in 2028, pending approval by country representatives at the agency’s next meeting in October.

The agreement was reached after the United States pulled out of the talks earlier in the week. No other countries followed suit.

The agreement applies to all ships, including those registered in the U.S., although the vast majority of ships are flagged in other countries. It remained unclear whether or how Washington might respond.

Publishers Clearing House in bankruptcy

Publishers Clearing House, a decades-old marketing and sweepstakes company known for doling out large “Prize Patrol” checks, has filed for Chapter 11 bankruptcy protection.

In an announcement this week, PCH said it was using the bankruptcy process to “finalize a shift away” from its legacy business of direct-mail, retail merchandise and magazine subscriptions. The company is hoping to instead transition to a “pure digital advertising” model, where it will continue to offer free-to-play entertainment and prizes.

The Chapter 11 proceedings, filed in New York on Wednesday, arrive amid growing financial strain for PCH — which has struggled with rising operational costs and changing consumer habits in recent years.

Pivoting from its old way of doing business will help the company break free from past constraints and “establish a strong foundation for our future,” CEO Andy Goldberg said in a statement.

PCH says it plans to operate in a “business-as-usual manner” throughout the bankruptcy process.

GM temporarily halts EV van plant

Canada’s subsidiary of General Motors said on Friday that it is temporarily halting production and cutting staff at an assembly plant in Ingersoll, Ontario, because of lower-than-expected demand for its electric delivery vans.

GM Canada said the decision to halt production at the CAMI Assembly through most of the spring and summer is related to market demand and high inventory for the BrightDrop vehicle — and not because of the tariffs the United States has imposed on Canadian vehicle production.

Company spokesperson Jennifer Wright said in a statement that GM Canada is making “operational and employment adjustments to balance inventory and align production schedules with current demand.”

She said the company remains committed to keeping BrightDrop production at the CAMI plant and will support employees through the transition.

Compiled from New York Times, Associated Press and Bloomberg reports.