China says air clearing for Games despite hazy skies

China's efforts to clear the skies over its polluted capital are having an effect, officials said on Friday, insisting that Beijing's air would be safe for Olympic athletes despite persistent smog over the city. Beijing authorities have taken cars off the road and opened new subway lines in the past week, in addition to halting some construction and suspending factory production, in a last-ditch effort to ensure clear skies when the Games open on August 8.

Oil spills onto ice, climate among Arctic risks

Companies seeking oil in the Arctic will need better technology to clean up spills onto ice and could new face hazards such as rougher seas caused by climate change, experts said on Friday. The U.S. Geological Survey estimated this week that 22 percent of the world's undiscovered, technically recoverable reserves of oil and gas were in the Arctic, raising environmentalists' worries about possible impact on wildlife.

Investors Pressure Corporations to Address Climate

With the threat of climate change gaining greater recognition in the scientific, political, and businesses communities, investors are applying increased pressure on publicly traded corporations to study, analyze, and disclose the risks associated with this threat. As a result, more publicly traded companies are including environmental risks in their annual reports, which may help investors more accurately judge the physical and financial effects of climate change on these businesses.

Fuel Costs Clip Airline Wings

It doesn't take a frequent flyer to realize that the airline industry is headed for a hard landing. The rising price of jet fuel, up almost 100 percent in the last year, has the global airline industry struggling to cut costs, boost profitability, and salvage its image. Analysts predict a major industry contraction within the next two years.