Step aside, climate change — G20 countries have bigger fish to fry: Executives in G20 countries are worried about inflation, the debt crisis, and increasing cost of living, pushing climate change and environment-related issues to the back of their agendas “for the first time in years,” according to the World Economic Forum’s Executive Opinion Survey picked up by Reuters. This comes as Egyptian officials have repeatedly called on global players to honor climate pledges and put aside political and economic concerns to avoid detracting from the importance of addressing climate change during COP27. G20 nations have been under scrutiny lately for failure to fulfill their climate pledges, having raised their fossil fuel spending by 16% last year to USD 693 bn, while the Glasgow Financial Alliance for Net Zero called on the G20 to raise their climate targets.

iPhone 14 production downgraded as demand is hurting: Apple plans to decrease the production of its latest iPhone by more than 3 mn units from an initial 90-91 mn, reversing its ambitious plans for a production increase following supply bottlenecks and weaker demand, Bloomberg reports, citing sources in the know. China’s Covid-Zero policy recently triggered a lockdown in the city of Zhengzhou, known to be the production hub for the flagship product, leading to a supply slowdown of its release. Demand for both the iPhone 14 and iPhone 14 Plus has been weakening amid a general drop in consumer spending as global inflation bites consumers’ disposable income. The global slowdown in smartphone sales forced the tech giant to cut production of the iPhone 14 Plus just weeks before it began shipping.