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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“Are we witnessing the opening salvos of World War 3?

“With tit-for-tat missile strikes by Iran and Pakistan, tensions are rising in the Middle East – as are fears that small but distinct local skirmishes could trigger a new global conflict…

“What cannot be ignored… is that what has spread out from Gaza is a growing sense of permissiveness, a diminution of restraint and a readiness on all sides to resort to arms.”

https://www.independent.co.uk/voices/middle-east-world-war-3-three-houthis-gaza-israel-iran-b2480951.html


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“How Ten Middle East Conflicts Are Converging Into One Big War…

“The escalation—and the inherent dangers for the future—reflects a merger of crises in the Middle East. Ten conflicts among diverse rivals or in different arenas over disparate flash points and divergent goals are now converging.”

https://www.newyorker.com/news/daily-comment/how-ten-middle-east-conflicts-are-converging-into-one-big-war


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“Iran-Pakistan: At least nine dead as Pakistan uses ‘killer drones and rockets’ in retaliatory airstrikes on Iranian territory.

“Four children and three women are among those killed in Thursday’s raids, according to an Iranian official. It follows Iran’s attack on Tuesday on Pakistani soil that authorities there said killed two children.”

https://news.sky.com/story/seven-killed-as-pakistan-launches-airstrikes-on-iran-13050660


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“Middle Eastern powers take their struggle to Kurdistan, threatening region’s stability.

“The area is a facing an explosive cocktail of forces, caught between strikes from Iran and Turkey, and America’s military presence. So far it’s managed to keep the situation under control, but it could ignite at any moment.”

https://english.elpais.com/international/2024-01-18/middle-eastern-powers-take-their-struggle-to-kurdistan-threatening-regions-stability.html


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“Yemen’s Houthi rebels have targeted a US-owned cargo ship with a kamikaze drone just hours after Washington put the group back on its list of global terrorists.

“The drone smashed into the Genco Picardy bulk carrier late on Wednesday, 70 miles (110km) southeast of Aden, causing a fire…”

https://www.theguardian.com/world/2024/jan/17/us-redesignates-houthis-as-global-terrorists-amid-red-sea-attacks


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“Red Sea Unrest Is Bad News for World’s Fragile Food Supply.

“Chaos in the Red Sea is starting to disrupt shipments of produce from coffee to fruit — and threatening to halt a slowdown in food inflation that brought some relief to strained consumers… “Everyone is a loser here,” said Nitin Agrawal, managing director of Euro Fruits, a major Indian grape exporter.”

https://finance.yahoo.com/news/red-sea-unrest-bad-news-000100024.html


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“Israel bombs Gaza as disagreements with US simmer.

“Israel bombarded southern Gaza on Friday after it publicly sparred with its main ally the United States over the possibility of a Palestinian state, the creation of which Washington sees as the only pathway to a lasting peace.”

https://www.france24.com/en/live-news/20240119-israel-bombs-gaza-as-disagreements-with-us-simmer


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“Rising Somalia-Ethiopia tensions could plunge the Horn of Africa into chaos.

“A breakout of a war between Ethiopia and Somalia would carry catastrophic consequences not just for the region, but for Africa as a whole… The rupture in Ethiopian-Somali ties could have grave consequences for the region and the Red Sea countries as a whole.”

https://www.euronews.com/2024/01/18/rising-somalia-ethiopia-tensions-could-plunge-the-horn-of-africa-into-chaos


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“Azerbaijan revives demand for corridor through Armenia.

“Armenian Prime Minister Nikol Pashinyan has called Azerbaijani President Ilham Aliyev’s latest remarks about border delimitation/demarcation and transit links “totally unacceptable” and a “blow” to the peace process.”

https://eurasianet.org/azerbaijan-revives-demand-for-corridor-through-armenia


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“NATO warns of all-out war with Russia in next 20 years.

“Civilians in the West must prepare for all-out war with Russia within the next 20 years, a top Nato military official has warned. While armed forces are primed for the outbreak of war, private citizens need to be ready for a conflict that would require wholesale change in their lives, Adml Rob Bauer said on Thursday.”

https://www.telegraph.co.uk/world-news/2024/01/18/nato-warns-of-war-with-russia-putin-next-20-years-ukraine/


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“Moody’s points to further pain after surge in corporate defaults.

“Global corporate defaults surged in December, according to a report by rating agency Moody’s, setting the stage for more missed debt payments ahead as low-grade, highly leveraged businesses grapple with a prolonged period of steep funding costs.”

https://www.ft.com/content/6550842b-1225-4cd2-96ef-dbc97ea60a9a


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“IMF official warns central banks against fuelling market hopes for rapid interest rate cuts…

““The job is not done,” Gopinath told the Financial Times during an interview in Davos, Switzerland. “[Central banks] must move cautiously. Once you cut rates, it solidifies expectations of further rate cuts and you could end up with much larger loosening — which can be counter-productive.””

https://www.ft.com/content/356c25de-f691-4c47-ada5-0ee996ad7776


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“[UK] Mortgage losses are growing at the fastest rate since the financial crisis as families struggle to keep up with rapidly rising interest rates.

“Banks and building societies reported the biggest rise in households failing to keep up with repayments on secured loans – overwhelmingly mortgages – since early 2009, according to a closely watched Bank of England survey.”

https://www.telegraph.co.uk/business/2024/01/18/mortgage-losses-surge-fastest-pace-since-financial-crisis/


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“UK Recession Risk Grows With Worst Retail Slump Since Lockdown…

“The volume of goods sold in stores and online fell 3.2% in December, the Office for National Statistics said Friday. That was the worst reading since January 2021 and well below the 0.5% drop economists had expected.”

https://www.bloomberg.com/news/articles/2024-01-19/uk-retail-sales-fell-more-than-expected-ahead-of-christmas


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“Britain is on the brink of another 1973-style disaster. Repeated failure to control inflation and political dysfunction point to catastrophe ahead…

“…the Bank of England’s miserable record over the last two years should put to rest the idea that any surge in inflation would be swiftly tamed. That leaves us needing a shock to set the crisis in motion.”

https://www.telegraph.co.uk/business/2024/01/18/britain-is-on-the-brink-of-another-1973-style-disaster/


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“French police protest highlights threat of strike action during Paris Olympics…

“Aware of the risk to the country’s image, French authorities are scrambling to agree pay deals with a host of public sector trade unions who are demanding bonuses for working during the July 26-August 11 Olympics.”

https://www.france24.com/en/france/20240118-french-police-protest-highlights-threat-of-strike-action-during-paris-olympics


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“New wave of farmer protests loom as German government refuses to budge.

“Germany’s ruling coalition refused to back down in its political showdown with protesting farmers, deciding late on Thursday to stick to its plans to cut farm subsidies, opening the floodgates to an unprecedented “eruption” of new protests.”

https://www.euractiv.com/section/agriculture-food/news/new-wave-of-farmer-protests-looms-as-german-government-refuses-to-budge/


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“Turmoil in Germany over neo-Nazi mass deportation meeting…

“Over the past week tens of thousands of people have taken to the streets of German cities to demonstrate against rightwing extremism. The protests were sparked by the revelation that members of the far-right Alternative für Deutschland (AfD) party had attended a meeting with neo-Nazis and other extremists to discuss the mass deportation of migrants…”

https://www.theguardian.com/world/2024/jan/19/turmoil-in-germany-over-neo-nazi-mass-deportation-meeting-explained


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“The newly elected pro-European Union Prime Minister of Poland, Donald Tusk, finds himself at the helm of a political storm as large-scale protests sweep the capital city, Warsaw.

“Reportedly, around 300,000 citizens have taken to the streets to voice their discontent against Tusk’s government’s media policies, marking a significant challenge to his leadership.”

https://bnnbreaking.com/politics/donald-tusks-government-faces-massive-protests-in-poland-over-media-policies/


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“Thousands Protest in Slovakia to Stop Prime Minister’s Judiciary Revamp.

“Thousands of demonstrators took to the streets across Slovakia to protest a proposed overhaul of the judiciary by Prime Minister Robert Fico, the European Union’s latest leader accused of eroding democratic standards and the rule of law.”

https://www.bloomberg.com/news/articles/2024-01-18/thousands-protest-in-slovakia-to-stop-premier-s-judiciary-revamp


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“Protests in Romania rage on despite the government adopting brokered measures.

“Since Thursday morning, demonstrators have also been blocking the road to Halmeu customs on the border with Ukraine, demanding a halt to grain imports from Ukraine and leaving only one lane open for emergencies.”

https://www.euractiv.com/section/politics/news/protests-in-romania-rage-on-despite-the-government-adopting-brokered-measures/


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“Russian police make arrests as protest moves to regional capital…

“It was the third protest this week, but the first in the regional capital, in support of minority rights activist Fail Alsynov, who was sentenced on Wednesday to four years in a penal colony on charges of stirring ethnic hatred, which he denied.”

https://www.channelnewsasia.com/world/russian-police-make-arrests-protest-moves-regional-capital-4059956


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“Serbian Opposition Says Democracy At Stake As Protests Over Elections Resume.

“After a two-week break, new protests were held in the Serbian capital, Belgrade, on January 16 over disputed national and municipal elections. Several thousand demonstrators gathered in front of the offices of the national election commission, demanding the annulment of the December vote.”

https://www.rferl.org/a/serbia-opposition-democracy-protests-elections-belgrade/32778354.html


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“Bulgaria migrants: Torrid lives at bottom of people-smugglers’ pyramid…

“The Balkan migration route is growing in importance again. Last September, according to the EU’s border police organisation Frontex, this route overtook the Central Mediterranean route through Italy in numbers of irregular border crossings. Many cross through Bulgaria.”

https://www.bbc.co.uk/news/world-europe-67991658


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“Greece found to have violated Syrian refugee’s right to life by firing on vessel…

“The Strasbourg-based court ordered Greece to pay €80,000 (about £68,000) in damages to the wife and two children of Belal Tello, who was shot in the head as Greek coastguards attempted to halt the boat he was travelling in…”

https://www.theguardian.com/world/2024/jan/17/greece-found-to-have-violated-syrian-refugees-right-to-life-by-firing-on-vessel


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“‘Libya is hell’ 126 refugees rescued in the Mediterranean say…

“Another survivor on board Humanity 1 testified to the inhumane conditions in Libyan prisons over the past year, after he had been forced back in a failed attempt to leave the North African coast in early 2023. “You don’t understand, we were not even treated as humans”, he said.”

https://www.aljazeera.com/news/2024/1/18/libya-is-hell-126-refugees-rescued-in-the-mediterranean-say


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“Protests erupt in Tunisian town as search continues for 37 missing migrants…

“Frustrated by the lack of news since the boat’s disappearance, the families of the missing undocumented migrants erected roadblocks and burned tyres around the village yesterday…”

https://www.aljazeera.com/news/2024/1/17/protests-erupt-in-tunisian-town-as-search-continues-for-37-missing-migrants


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“China’s dollar-denominated GDP and share of global economy fall…

“Although China’s real gross domestic product grew by 5.2% in 2023, achieving Beijing’s target of around 5%, its nominal GDP in dollar terms fell for the first time in 29 years as its share of the global economy shrank for the second straight year.”

https://asia.nikkei.com/Economy/China-s-dollar-denominated-GDP-and-share-of-global-economy-fall


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“For many in China, the economy feels like it is in recession…

“More than one in four of the roughly 100 million Chinese aged 16-24 were unemployed in June, the last data point before officials suspended the series. China resumed publication of the data on Wednesday, excluding college students from it, to put youth unemployment at 14.9% in December. China’s Generation Z is the most pessimistic of all age groups…”

https://www.reuters.com/world/china/many-china-economy-feels-like-it-is-recession-2024-01-17/


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“Unrest grips Comoros as opposition rejects president’s re-election…

“During the day, demonstrators ransacked a former minister’s house and set it on fire, as others tried to block roads in the capital. Police responded with tear gas and arrests, AFP reporters saw. In the evening, citing “public necessity”, the government ordered a night curfew.”

https://www.france24.com/en/afrique/20240117-unrest-grips-comoros-opposition-rejects-president-re-election


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“Gold miners bring fresh wave of suffering to Brazil’s Yanomami…

“Brazil is losing the upper hand in its battle to save the Yanomami Indigenous people, who are dying from flu, malaria and malnutrition brought into their vast, isolated Amazon rainforest reservation by resurgent illegal miners.”

https://www.reuters.com/investigates/special-report/brazil-environment-yanomami/


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“A rush for ‘green’ iron is on in Guinea. Will chimpanzees be a casualty?

“In December, Anglo-Australian mining giant Rio Tinto announced plans to sink $6.2 billion into a long-delayed iron ore mine in Guinea’s Simandou mountain range. Simandou contains the largest undeveloped high-grade iron deposits on earth…”

https://news.mongabay.com/2024/01/a-rush-for-green-iron-is-on-in-guinea-will-chimpanzees-be-a-casualty/


You can read the previous “Economic” thread here. I’ll be back tomorrow with a “Climate” thread.

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