News Wrap: U.N. climate talks extended into weekend

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• Amna Nawaz:

  In the day's other news: The U.S. and other nations offered an 11th-hour proposal to rescue U.N. climate talks from failure.

  The focus was on compensating nations already being damaged by weather disasters.

  Geoff Bennett reports.

• Geoff Bennett:

  With climate talks nearing the end, the divisions only seemed to be widening today as world leaders pushed past their initial deadline for reaching a deal.

  Sameh Shoukry, President, COP 27: Today, we need to shift gears again. Time is not on our side.

• Geoff Bennett:

  Several climate issues are being debated at the annual United Nations summit, and questions surrounding the creation of potential loss and damage payments remain a major sticking point.

  The basic idea, wealthier nations, which have long polluted the most, should give money to poorer and developing nations affected by climate change.

  Germany's foreign minister acknowledged the harmful impacts wealthy nations can create for vulnerable countries.

• Annalena Baerbock, German Foreign Minister (through translator):

  Spending money is not an end in itself. It's about ensuring justice, climate justice, because we are currently seeing that those who have contributed suffer the most from the current climate damage.

• Geoff Bennett:

  The talks were set to wrap today, but have been pushed into the weekend, as resolutions remain up in the air. A draft decision from the Egyptian presidency was released this morning outlining a potential plan.

  Some were immediately critical, saying it was vague and left out important priorities. Among the key questions, whether a new fund for vulnerable nations would be tied to explicit commitments to phase out fossil fuels. The European Union surprised many overnight with this proposal, but it did not appear in the drafts being debated today.

  The summit brought together some of the youngest climate activists to fight for their nations, among them 10-year-old Nakeeyat Dramani Sam from Ghana.

• Nakeeyat Dramani Sam, Climate Activist:

  Have a heart and do the math. It is an emergency. If all of you were to be young people like me, wouldn't you have already agreed to do what is needed to save our planet?

  (APPLAUSE)

• Geoff Bennett:

  Her speech drew a standing ovation, a glimmer of hope for leaders trying to find unity in the coming days.

  For the "PBS NewsHour," I'm Geoff Bennett.

• Amna Nawaz:

  North Korea, meanwhile, shook up a summit of Pacific nations today by firing another long-range missile. It landed near Japanese waters, but had a range that could reach the entire U.S. mainland.

  In response, South Korean and U.S. fighter jets launched simulated aerial strikes that could target missile launchers in the North.

  North Korea's actions were roundly condemned at that Asia-Pacific summit in Bangkok, Thailand, known as APEC. Vice President Kamala Harris, representing the U.S., held an emergency gathering of South Korea, Japan and others.

  Meanwhile, the war in Ukraine also drew the summit's attention. French President Emmanuel Macron urged the leaders to condemn Russia's invasion.

• Emmanuel Macron, French President (through translator):

  This war is also a yo-yo problem, because it will create a lot of destabilization. Help us to convey the same message to Russia. Stop the war. Respect international order. Come back at the table.

• Amna Nawaz:

  Russia is a member of APEC, but President Vladimir Putin is not attending the summit.

  In Ukraine, the government said waves of Russian strikes have disabled nearly half of the energy system. The winter bombing campaign has plunged millions into darkness for hours on end. Officials also warned today that freezing temperatures are now adding to the pressure on disrupted energy networks.

  Back in this country, a powerful snowstorm paralyzed parts of Western and Northern New York state with at least three feet of lake effect snow. The heaviest snowfall happened in and around Buffalo, mostly near the eastern end of Lake Erie. The city's mayor warned it's going to get worse as the weekend progresses.

  Byron Brown, Mayor of Buffalo, New York: We see how hard and how fast it's falling in South Buffalo, making driving conditions extremely hazardous, people trying to drive getting stuck. Once the storm shifts and moves to other areas of the city, we will potentially see the same thing in other parts of the city of Buffalo as well.

• Amna Nawaz:

  The snow has closed schools and stopped trains and flights around Buffalo.

  The former Theranos CEO, Elizabeth Holmes, was sentenced today to 135 months in federal prison, more than 11 years. The penalty was imposed at a hearing in San Jose, California. Holmes had been convicted of investor fraud and conspiracy for duping investors about bogus blood testing technology. The company collapsed in 2018.

  There is word that Cecilia Rouse is stepping down as chair of the White House Council of Economic Advisers. Reports today said she will leave the Biden administration come spring and resume teaching at Princeton University. Rouse is a labor economist and the first Black woman to chair the council.

  Hundreds more employees are reportedly leaving Twitter. The Associated Press says that is based on postings on an internal company messaging board. The new exodus follows an ultimatum by new owner Elon Musk to work harder for longer hours or resign with severance pay.

  And, on Wall Street, the Dow Jones industrial average gained 199 points to close at 33745. The Nasdaq rose just one point and the S&P 500 added 18.