Daily updates on climate change and the global economy.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

Daily updates on climate change and the global economy.
Stay current with what’s happening around the world with a quick scan of top news.

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“The world’s third- and fourth-largest economies are shrinking.

“The European Union is battling with the UK and Italy over Brexit and a deficit-boosting budget, respectively. Traders are reeling from a plummet in oil prices that sent shockwaves through the stock market.”

https://qz.com/1463327/the-global-economy-is-looking-shaky-heres-whats-happening-today/


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“Brexit Secretary Dominic Raab has resigned saying he “cannot in good conscience support” the UK’s draft Brexit agreement with the EU. Theresa May announced on Wednesday evening that she had secured the backing of her cabinet for the agreement, after a five hour meeting. But several ministers were understood to have spoken against it. And there are suggestions of moves among Conservative backbenchers to force a no-confidence vote in her.”

https://www.bbc.co.uk/news/uk-politics-46219495


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“Italian bond yields hit three-week highs and the country’s stocks slumped after Rome defied the European Commission over its controversial budget plan.

“The Italian government intensified its standoff with the EU last night by refusing to change its deficit target of 2.4 per cent of GDP and its growth forecast of 1.5 per cent.”

http://www.cityam.com/269089/italian-bond-yields-rise-sharply-and-stocks-fall-after-rome


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“New car registrations in Europe slumped 7.4 percent in October on falling demand in Germany, France, Italy and Spain…

“…as registrations of Audi, Nissan and VW branded vehicles saw sharp declines, monthly auto industry data showed.”

https://uk.reuters.com/article/us-europe-vehicleregistrations/european-passenger-car-sales-slump-7-4-percent-in-october-idUKKCN1NK0LN


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“Vulnerabilities in the German financial system are building up and risks to growth have increased substantially, the country’s central bank said on Wednesday, warning that banks may have insufficient buffers…

“The risks to future economic activity are today skewed to the downside,” Bundesbank Vice President Claudia Buch said as the bank presented a regular stability report.”

https://uk.reuters.com/article/uk-germany-economy-bundesbank/german-central-bank-warns-of-risks-to-growth-and-banks-idUKKCN1NJ18X


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“Iran has executed the so-called “Sultan of Coins” and his accomplice for hoarding gold coins and other hard currency, signalling zero tolerance as it tries to shore up its currency in the face of an economic crisis.

“State TV reported that Vahid Mazloumin and his accomplice, Mohammad Ismail Ghasemi, were hanged early on Wednesday (local time).”

https://www.abc.net.au/news/2018-11-15/iran-executes-sultan-of-coins-convicted-of-hoarding/10499818


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“Indian developer rupee bond sales have slumped to the lowest in almost four years as investors become more cautious about default risks after the shock from non-payments by Infrastructure & Leasing Financial Services Ltd…

“Dwindling sales may make it harder for developers to repay $4.9 billion of debt that comes due in 2019.”

https://www.bloomberg.com/news/articles/2018-11-14/india-property-bond-sales-stall-as-il-fs-fuels-default-concerns


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“There are early signs that China’s central government is preparing for economic growth to slip to as low as 6 per cent next year, even as it seek to counter the blow from US President Donald Trump’s trade tariffs with a drip-feed of fiscal stimulus.”

https://www.afr.com/news/world/asia/chinas-growth-seen-slipping-to-6-per-cent-as-trade-war-kicks-in-20181115-h17xck


“Hong Kong housing prices could fall 25 percent next year if the trade war between the United States and China worsens, real-estate and investment management company JLL has warned. The forecast is the latest bearish call for what is traditionally one of the world’s most expensive real-estate markets.”

https://www.cnbc.com/2018/11/15/hong-kong-housing-prices-could-fall-25-percent-on-trade-war-jll.html


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“A potent combination of nervous buyers, cautious lenders and retreating investors has turned Australia’s once booming housing market to dust. With the downturn now in its second year, the question for home-owners, house-hunters and property investors is how much further there is to go.

“Prices in Sydney, the epicenter of the preceding boom, are falling at an annualized pace of about 8 percent.”

https://www.bloomberg.com/news/articles/2018-11-14/this-is-what-s-killing-australia-s-property-boom


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“Emerging market debt rose by $1 trillion to more than $71 trillion in the second quarter, with China accounting for more than 80 percent of that increase, the Institute of International Finance (IIF) said in a report on Wednesday.

“The latest numbers from China pointed to a continued issuance boom in the world’s second-largest economy, wrote IIF executive managing director Hung Tran.”

https://uk.reuters.com/article/us-global-markets-debt-iif/emerging-economies-see-debt-rise-1-trillion-in-second-quarter-face-record-redemptions-iif-idUKKCN1NJ2IT


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“Maersk, the world’s biggest container shipper, said the effect of trade tensions could reduce global container trade between 0.5 and 2 percent during 2019 and 2020.

“It said volume growth in container shipping, excluding those from Hamburg Sud, was lower than expected and unexpectedly fell by 1.9 percent from the previous quarter.”

https://www.cnbc.com/2018/11/14/maersk-earnings-q3-2018.html


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“Oil prices rallied Wednesday amid reports OPEC is weighing a steep production cut, but a key U.S. supply report Thursday could dampen hopes for a rebound.

“OPEC and its partners are discussing a proposal to slash output by 1.4 million barrels per day, sources told Reuters, ahead of the oil group’s meeting next month.”

https://www.investors.com/news/oil-prices-opec-production-cut-eia-data/


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“Fifteen percent (15%) of Americans – including roughly two in 10 millennials (19%) – say they’re still paying off debt from the 2017 holiday season, which could put a damper on spending in 2018. Majorities of Americans indicate that they’re planning to spend less and hoping to use credit cards less that they did during last year’s holiday season (58% each), and the ghosts of spending past can have an exaggerated effect on future spending plans.”

https://today.yougov.com/topics/consumer/articles-reports/2018/11/14/americans-holiday-debt-credit


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