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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“US airstrikes on Iranian-backed militias in the Middle East were just the beginning of a sustained response, the White House national security adviser warned on Sunday, as he refused to rule out strikes on Iranian soil…

“Speaking on NBC the day after separate overnight US and UK airstrikes against Houthi targets in Yemen, Sullivan three times rejected a chance to rule out strikes on Iran itself…”

https://www.theguardian.com/world/2024/feb/04/houthis-vow-more-red-sea-attacks-after-third-wave-of-us-uk-strikes-on-yemen


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“Iran and Iraq warn US that its air strikes risk stoking instability…

“The Iraqi government said on Saturday that 16 people, including civilians, were killed in the US attacks, warning that they would “put security in Iraq and the region on the brink of the abyss”. Iran’s foreign ministry condemned the strikes as a violation of international law…”

https://www.ft.com/content/e1b09e57-10b2-410f-a360-32282cd70704


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“Houthis promise ‘escalation’ after U.S., British strikes in Yemen…

“The joint attacks “will not go unanswered, and we will meet escalation with escalation,” Mohammed Al-Bukhaiti, a member of the Houthi political bureau, said early Sunday local time.”

https://www.washingtonpost.com/world/2024/02/04/israel-hamas-war-news-gaza-palestine/


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“Houthis may sabotage western internet cables in Red Sea, Yemen telecoms firms warn…

“Telecom firms linked to the UN-recognised Yemen government said on Sunday they fear Houthi rebels are planning to sabotage a network of submarine cables in the Red Sea critical to the functioning of the western internet, and to the transmission of financial data.”

https://www.theguardian.com/world/2024/feb/05/houthis-may-sabotage-western-internet-cables-in-red-sea-yemen-telecoms-firms-warn


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“Overnight Israeli airstrikes kill scores in Gaza as fears grow of push into Rafah.

“Israeli airstrikes across Gaza killed scores of people overnight, as fears grow of the military campaign intensifying in the southern city of Rafah, a tiny pocket of the territory where more than a million people are sheltering.”

https://www.theguardian.com/world/2024/feb/04/overnight-israeli-airstrikes-kill-gaza-fears-grow-push-rafah


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“Aid to Gaza and beyond at risk of collapse due to funding cuts, says UNRWA.

“Vital supplies of fuel and bread flour for Gaza risk running out, while schools, clinics and even rubbish collections in the West Bank and three countries across the Middle East could cease operating by the end of the month if funding cuts for UNRWA are not restored.”

https://www.theguardian.com/global-development/2024/feb/02/vital-aid-in-gaza-and-beyond-at-risk-of-collapse-due-to-unrwa-funding-cuts


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“At war both within and without, Israel is experiencing a brutal coming of age.

“It is widely predicted that Israeli prime minister Benjamin Netanyahu’s fractious, rightwing ruling coalition will not survive acceptance of an extended Gaza ceasefire and hostage-release deal with Hamas, as tentatively proposed by Arab mediators last week.”

https://www.theguardian.com/commentisfree/2024/feb/04/at-war-within-and-without-israel-has-almost-reached-a-point-of-no-return


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“Israel and Lebanon ‘could be going to war any day’ as IDF conducts military exercise in Golan Heights.

“More than 170 Hezbollah fighters, including some senior commanders, are said to have been killed in Israeli strikes over the past four months. Tens of thousands of people have been evacuated from villages on both sides of the border.”

https://news.sky.com/video/israel-and-lebanon-could-be-going-to-war-any-day-as-idf-conducts-military-exercise-in-golan-heights-13062785


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“China’s exporters on the brink as prolonged deflation threatens survival…

“China’s exporters, particularly smaller enterprises, find themselves at a crossroads as prolonged factory deflation takes a toll on profit margins. Fierce price wars and shrinking business opportunities, exacerbated by higher interest rates abroad and growing trade protectionism, have left many exporters grappling with difficult choices.”

https://www.wionews.com/business-economy/chinas-exporters-on-the-brink-as-prolonged-deflation-threatens-survival-687086


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“What the collapse of a company [Evergrande] owing $300 billion means for the world…

“Offshore creditors are particularly vulnerable to losing their investments. That’s because Beijing authorities will likely prioritize maintaining social and political stability on their home turf: They’ll protect investors at home first, and try to ensure that people who have paid for Evergrande properties eventually get their homes.”

https://www.businessinsider.com/china-evergrande-property-real-estate-crisis-debts-collapse-what-happens-2024-2


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“China warns of infringing on its sovereignty, Philippines plans first submarine as South China Sea tensions continue.

“[Philippine] Navy spokesman Roy Vincent Trinidad said about 200 vessels, including coastguard fleets, were swarming the outcrop about 37km (23 miles) away from the Second Thomas Shoal, referred to by the Chinese as Renai Jiao.”

https://www.scmp.com/economy/global-economy/article/3250921/global-impact-china-warns-infringing-its-sovereignty-philippines-plans-first-submarine-south-china


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“Philippines says it is ready to use force to quell secession attempts as Duterte row deepens…

“The Philippine government is ready to use “authority and forces” against attempts to divide the nation, a security official has said, after former president Rodrigo Duterte threatened to separate some southern islands from the rest of the archipelago.”

https://www.theguardian.com/world/2024/feb/05/philippines-secession-attempts-force-mindanao-president-ferdinand-marcos-jr-alliance


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“Milei clashes with Argentine province over plans to issue its own currency…

“The province’s finances had been “decimated” in recent months, governor Ricardo Quintela said in an interview, citing Milei’s halting of public works projects and his refusal to transfer the 20.8bn pesos ($26mn) that he says La Rioja is owed based on historical agreements with the central government.”

https://www.ft.com/content/1258d346-87ca-4c6b-9075-e9e741a51708


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“Falklands Feud: UK ‘Halts’ Major Warship Patrols Near ‘Contested Islands’; Dearth Of Vessels Leave It Undefended?

“…Adding to the unease, reports indicate that since taking office, President Milei has unofficially approved a deal to acquire 24 F-16 fighter jets from Denmark, supported by the US Congress in October. Additionally, he has initiated a review of plans to procure three submarines and a fleet of warships from France or Germany.”

https://www.eurasiantimes.com/oyal-navy-halts-major-warship-patrols-near/


And, if you’ll forgive an unscheduled musical interlude, this is Dire Straits’ classic anti-war song, “Brothers in Arms”, released in 1985 and inspired by the Falklands War:

https://www.youtube.com/watch?v=jhdFe3evXpk


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“Faulty Navy flagship pulls out of historic Nato drill as MPs warn UK’s ‘hollowed out army unfit for war’…

“The departure of the Royal Navy aircraft carrier HMS Queen Elizabeth to lead the largest Nato exercise since the Cold War has been cancelled at the last minute after an “issue” with a propeller shaft was spotted during final checks.”

https://www.independent.co.uk/news/uk/home-news/hms-queen-elizabeth-nato-exercise-propeller-b2490196.html


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“Will London be safe if World War Three breaks out? Our capital needs to ‘urgently adapt’ — here’s why…

“Nick Cooper, author of London Underground at War, says: ‘If you are in a tube station and hit directly, let’s face it you are f***ed. ‘Because the stations are made from bricks and concrete, if they or any buildings directly on top are hit, it will collapse in on itself and crush everyone inside.’”

https://metro.co.uk/2024/02/04/world-war-3-coming-london-not-safe-20212836/


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“Polish farmers plan general strike, blockade of Ukraine border…

“Solidarity [trade union] said that, apart from the blockade of crossings with Ukraine, it planned on-off blockades of roads throughout the country between Feb. 9 and March 10. Poland’s agriculture ministry did not immediately reply to an emailed request for comment.”

https://www.thepigsite.com/news/2024/02/polish-farmers-plan-general-strike-blockade-of-ukraine-border


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“Slovak farmers ready to join protests, call EU policy ‘green fanaticism’…

“The SPPK believes that Brussels and its green policies are at the root of the plight of European farmers, it said at a briefing in front of Slovakia’s National Council on Thursday. This also includes problems resulting from the poor management of the Slovak Agricultural Paying Agency…”

https://www.euractiv.com/section/politics/news/slovak-farmers-ready-to-join-protests-call-eu-policy-green-fanaticism/


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“Greek Farmers Vow to Escalate Protests Over Promised Government Compensation.

“Angry farmers are protesting rising inflation, foreign competition and the growing costs of combating climate change. Dumping mounds of chestnuts and apples on the pavement of an agricultural fair, tens of thousands of farmers took to the streets in the northern Greek city of Thessaloniki over the weekend…”

https://www.voanews.com/a/greek-farmers-vow-to-escalate-protests-over-promised-government-compensation-/7470413.html


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“Residents Want Japanese Nuclear Plant Damaged in Quake Examined.

“A group of residents of towns near Japanese nuclear plants submitted a petition on Friday asking regulators to halt safety screening for the restart of idled reactors until damage to a plant that partially lost external power and spilled radioactive water during a recent powerful earthquake is fully examined.”

https://www.voanews.com/a/residents-japanese-nuclear-plant-damaged-in-quake-examined-/7469396.html


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“No way to ‘budget’ out of cost-of-living crisis for low-income earners, report finds [Australia].

“The report comes just days after a Senate committee into the cost-of-living crisis heard families, including those with dual incomes, were increasingly accessing back-to-school help including free books, and avoiding seeing the doctor as the cost of medical care increases.”

https://www.theguardian.com/australia-news/2024/feb/05/no-way-to-budget-out-of-cost-of-living-crisis-for-low-income-earners-report-finds


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“Nigeria witnessed another round of blackout across the country on Sunday as the national power grid collapsed again, making it the first grid collapse in 2024.

“On Sunday, at around 11:51 AM, the Transmission Company of Nigeria operated grid went down. As a result, the system’s capacity dropped from 2,407 megawatts to just 31MW by midday and to zero by 1 PM.”

https://businessday.ng/energy/article/nationwide-blackout-as-power-grid-collapses-first-time-in-2024/


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“Police and protesters clash after Senegal election postponed.

“Police made arrests and fired tear gas as opposition supporters protested President Macky Sall’s decision to postpone elections in Senegal. Clashes erupted on Sunday as federal lawmakers prepared to debate a bill to formalise the delay of the February 25 vote.”

https://www.aljazeera.com/gallery/2024/2/5/police-and-protesters-clash-after-senegal-election-postponed


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“Militants storm Pakistan police station killing 10 and injuring six ahead of critical elections…

“More than 30 militants targeted a police station in northwestern Pakistan’s Draban region in the already volatile Khyber-Pakhtunkhwa at around 3am on Monday and launched sniper fire to enter the premises, police officials said.”

https://www.independent.co.uk/asia/south-asia/pakistan-police-station-attack-khyber-pakhtunkhwa-b2490508.html


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“Dark days are coming for US commercial real estate and the banks holding the loans…

“There are echos of subprime here as no one really knows the size of the problem, who is holding the losses and how it could be managed… Under any circumstances, it’s fair to say that losses will be high. How high? Goldman Sachs estimates $1.2 trillion of commercial mortgages are scheduled to mature this year…”

https://www.forexlive.com/news/dark-days-are-coming-for-us-commercial-real-estate-and-the-banks-holding-the-loans-20240203/


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“Why central banks are reluctant to declare victory over inflation…

“Eswar Prasad, an economist at Cornell University, says Friday’s [strong jobs data in the US] made declaring victory against inflation “a much more fraught” decision for central banks. “The reality is that, with these pressures, it’s going to be very difficult to keep inflation contained unless productivity growth remains strong.””

https://www.ft.com/content/c178324b-ee20-4256-9f6c-6c605f0d5b44


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“‘Vanity project’: a climate summit in oil-rich Azerbaijan…

“In December, President Aliyev said that Azerbaijan’s hosting of the COP29 is proof of the “huge confidence and deep respect” of the international community towards the country. “Baku will be the centre of the universe for two weeks,” he said.”

https://uk.news.yahoo.com/vanity-project-climate-summit-oil-071007236.html


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

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