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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“Israel’s defense minister vowed Sunday to step up attacks on Lebanon’s Hezbollah militant group even if a cease-fire is reached with Hamas in the Gaza Strip.

“Hezbollah, which has been exchanging fire with Israel throughout the war in Gaza, has said it will halt its nearly daily attacks on Israel if a cease-fire is reached in Gaza.”

https://abcnews.go.com/International/wireStory/israel-vows-target-lebanons-hezbollah-temporary-pause-reached-107532937


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“Hezbollah fires rockets, drone at Galilee as Israeli jets pounds southern Lebanon.

“Air defenses intercepted rockets shot at towns near the restive northern border and a fighter jet shot down a drone heading into Israel as fighting along Israel’s northern border showed no sign of slowing Saturday.”

https://www.timesofisrael.com/hezbollah-fires-rockets-drone-at-galilee-as-israeli-jets-pounds-southern-lebanon/


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“As Lebanon teeters on the edge, a war with Israel would be catastrophic.

“Wages for Lebanon’s soldiers have fallen so low that many now have second jobs driving for Uber or working as parking valets. A GoFundMe campaign has been launched to support the country’s emergency response services. Angry depositors in Beirut have attacked the headquarters of a major bank…”

https://www.washingtonpost.com/world/2024/02/24/lebanon-economic-crisis-war-israel/


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“Israel plans $60bn debt raising and tax rises to fuel defence spending…

“The hit came as the government mobilised a record 300,000 reservists; tens of thousands of people were displaced in the north and south of the country; and consumer spending slumped. About 150,000 Palestinians workers have also been prevented from entering Israel from the occupied West Bank.”

https://www.ft.com/content/b84aae92-3bbb-49db-b021-befbeb0fb0f1


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Arrests and Clashes in Tel Aviv as Thousands Protest Across Israel.

“Israeli police deployed water cannons and arrested 21 protesters in Tel Aviv on Saturday, February 24, as thousands gathered nationwide to protest against the current Israeli government. Footage released by police shows water cannons being fired…”

https://uk.news.yahoo.com/arrests-clashes-tel-aviv-thousands-135357422.html


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“Gaza death toll set to pass 30,000, as Israel prepares assault on Rafah.

“The death toll in Gaza is likely to pass the grim milestone of 30,000 this week, as negotiators try to pin down a ceasefire and hostage-release deal, and the Israeli government presses ahead with plans for an attack on Rafah.”

https://www.theguardian.com/world/2024/feb/25/gaza-death-toll-set-to-pass-30000-as-israel-prepares-assault-on-rafah


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“US and UK strike Houthi targets in Yemen after shipping hit in Red Sea…

“This is the fourth time that the US and British militaries have conducted a combined operation against the Houthis since Jan. 12. But the US has also been carrying out almost daily strikes to take out Houthi targets, including incoming missiles and drones aimed at ships, as well as weapons that were prepared to launch.”

https://www.euronews.com/2024/02/25/us-and-uk-strike-houthi-targets-in-yemen-after-shipping-hit-in-red-sea


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“Shortage of Oil Tankers at Hand as Red Sea Attacks Divert Trade.

“Longstanding warnings from the oil tanker industry that too few of the ships are being built are coming back to haunt the market after Houthi attacks on commercial shipping caused widespread diversions in global petroleum trades. Just two new supertankers are due to join the fleet in 2024…”

https://www.bloomberg.com/news/articles/2024-02-25/shortage-of-oil-tankers-at-hand-as-red-sea-attacks-divert-trade


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“Migrant crisis looms over governors’ gathering at the White House.

“The record level of migrants arriving at the US-Mexico border loomed over a gathering of governors at the White House this weekend, revealing how the issue has become prominent in states nationwide and across the political spectrum.”

https://edition.cnn.com/2024/02/25/politics/migrant-governors-gathering-white-house/index.html


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“Spiralling US public debt risks action from bond vigilantes. Policymakers should start making contingency plans now…

“As well as savaging the president of the day, such a challenge could devastate the US’s role as the world’s chief provider of safe assets during global crises, while simultaneously threatening the dollar’s status as the pre-eminent reserve currency.”

https://www.ft.com/content/370e94f6-b6b3-4e8b-99e4-3a94c77276ee


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“Britain to harness power of Sahara solar farms using 700ft ship…

“The 700ft vessel will lay four parallel cables linking solar and wind farms spread across the desert in Morocco with a substation in Alverdiscott, a tiny village near the coast of north Devon. Once completed, the scheme is expected to deliver about 3.6 gigawatts of electricity to the UK’s national grid – equating to about 8pc of total power demand.”

https://www.telegraph.co.uk/business/2024/02/26/britain-harness-power-sahara-solar-farms-cable-laying-ship/


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“The UK is much closer to blackouts than anyone dares to admit…

“We are heading for a big electricity crunch… every single one of our existing nuclear power stations is currently due to reach the end of its life by 2035. If Hinkley C is delayed much beyond its latest estimated completion, we could end up with no nuclear at all. That could leave us trying to power the country pretty much with intermittent wind and solar energy alone…”

https://www.telegraph.co.uk/news/2024/02/25/uk-closer-to-blackouts-than-anyone-dares-to-admit/


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“British firms say they are facing higher shipping costs and delays of up to four weeks due to Houthi attacks in the Red Sea, a business group said.

“More than a third of the firms surveyed by the British Chambers of Commerce said they had been affected. That figure rose to more than half among exporters responding to the survey.”

https://www.bbc.co.uk/news/business-68398413


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“Dutch central bank leader warns of global tensions’ impact on trade.

“Increasing geopolitical tensions and trade restrictions between economic blocs and countries around the world are having a negative impact on free trade and investment. Klaas Knot, president of De Nederlandsche Bank, warned of this in a speech at the Eurofi think tank in Ghent on Friday.”

https://nltimes.nl/2024/02/25/dutch-central-bank-leader-warns-global-tensions-impact-trade


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“Farmers storm Paris agriculture fair as Macron promises more help.

“A major farm fair in Paris descended into clashes between riot police and farmers as Emmanuel Macron pledged greater financial help for agriculture, in the latest sign of tensions across Europe over food production.”

https://www.ft.com/content/80849a30-aff5-4a3f-a8dc-ef3275fcc945


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“Farmers’ protests in Europe and the deadend of neoliberalism…

“These are people who produce Europe’s food – whether conventionally or organically, on a small or a medium scale. They stand united by a shared reality: They are fed up with spending their lives working incessantly without ever getting a decent income.”

https://www.aljazeera.com/opinions/2024/2/25/farmers-protests-in-europe-and-the-deadend-of-neoliberalism


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“Why Germany is (literally) the sick man of Europe. Increasing illness rates diagnose EU’s largest economy with wider malaise…

“Russia’s invasion of Ukraine, an era of deglobalisation and geo-political tensions have threatened the foundations of its economic model… Germans themselves have literally never been so sick. And it’s becoming one of the biggest drags on the economy.”

https://www.telegraph.co.uk/business/2024/02/26/germany-literally-sick-man-europe/


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“Germany could spend billions of euros to convert pipeline for Russian gas imports to carry hydrogen…

“The CEO of SEFE, a former subsidiary of Gazprom that was nationalised and renamed by the German government in 2022, has told newswire Reuters that daughter company Gascade could spend “low single-digit billion euros” on converting gas pipelines to hydrogen.”

https://www.hydrogeninsight.com/policy/germany-could-spend-billions-of-euros-to-convert-pipeline-for-russian-gas-imports-to-carry-hydrogen-report/2-1-1601844


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“Tensions grow as 160 tonnes of Ukrainian grain sabotaged in Poland…

“Video and pictures online showed eight wagons of corn spilling onto the tracks near the village of Kotomierz, northern Poland, prompting Ukraine’s deputy prime minister to condemn it as an act of “impunity and irresponsibility”.”

https://www.telegraph.co.uk/world-news/2024/02/25/ukrainian-grain-sabotaged-in-poland-tension-grows/


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“Ukraine’s defence minister says half of western arms arrive later than promised…

“Speaking a day after the second anniversary of Moscow’s full-scale invasion, Ukraine’s defence minister, Rustem Umerov, said his country was “losing territory” in its grinding war with Russia because “50%” of weapons promised by western partners failed to reach Kyiv on time.”

https://www.theguardian.com/world/2024/feb/25/ukraine-defence-minister-rustem-umerov-says-half-of-western-arms-arrive-later-than-promised


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“Libya Protests Halt Wafa Oil Exports, Gas Pipeline to Italy…

“Exports from an oil field in western Libya and a subsea natural gas link to Italy were closed following protests, according to a person familiar with the matter, the latest disruptions to the North African country’s energy infrastructure.”

https://www.bloomberg.com/news/articles/2024-02-25/libyan-protests-shut-subsea-natural-gas-pipeline-to-italy


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“Middle-class Tunisians risk shipwreck for lure of Europe…

“As Tunisia’s economy has floundered over recent years, ever more young people have gone to seek their fortune in prosperous Italy or France and the record numbers have led to a spike in deaths, with the Sfax morgue regularly filling with drowned bodies.”

https://thearabweekly.com/middle-class-tunisians-risk-shipwreck-lure-europe


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“Nigeria’s economic crisis puts fuel subsidies removal under scrutiny…

“Before the west African country went to the polls last year, the IMF recommended that Nigeria’s government “permanently remove fuel subsidies through the introduction of a market-based pricing mechanism”.”

https://www.ft.com/content/29752a06-adea-4175-b278-22e0632c375a


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“The forgotten war. Sudan’s conflict is a threat to regional stability — and millions of lives…

“The conflict brings the anarchy that has raged in the Sahel right up to Sudan’s 650km Red Sea coastline, threatening to spread some of Africa’s worst problems into the Middle East and vice versa. The conflict has sucked in outside powers. Gulf states have lined up behind each of the two generals…”

https://www.ft.com/content/2c02cb6a-552b-478a-9b66-0d0bd5fe92d5


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“As Ramadan approaches in Iraq, Food prices increase amid complaints of government inaction…

“Asked by The New Arab, several people in Sulaimaniyah city in the northern Kurdistan region of Iraq complained about high prices of almost all things, especially meats and basic food materials, such as rice, bread flour and cocking oil.”

https://www.newarab.com/news/ramadan-approaches-iraq-food-and-meat-prices-surge


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“Vast majority of Iranians want a secular government, poll reveals…

“Almost three-quarters of Iranians want a secular government instead of a theocratic dictatorship, an anonymous state-run poll has revealed. The survey also revealed that less one in 10 people think women should be forced to wear a hijab. The poll suggests a major shift in attitudes towards Iran’s religious regime has occurred since the 2022…”

https://www.telegraph.co.uk/world-news/2024/02/25/iran-poll-no-hijab-more-freedom-secular-rule-less-religious/


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“Hours-long ‘rigged polls’ protests end in Karachi after tear gas and baton charges…

“The political parties had chosen today as the protest date as the newly-elected members of the provincial assembly took oath and elected the speaker and deputy speaker. When the workers, including women, gathered in different pockets to partake in the protest, the city’s police fired tear gas and baton-charged them.”

https://www.geo.tv/latest/532424-traffic-on-main-karachi-roads-disrupted-as-political-parties-stage-protests


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“Thousands of Brazilians rally in support of Bolsonaro amid coup probe…

““What is a coup? Tanks in the streets, weapons, conspiracy. None of that happened in Brazil,” Bolsonaro told his supporters, who filled up six blocks of Sao Paulo’s iconic Paulista Avenue.”

https://www.aljazeera.com/news/2024/2/26/thousands-of-brazilians-rally-in-support-of-bolsonaro-amid-coup-probe


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“Argentine provinces threaten oil supply cuts in dispute with Milei…

“”Not a drop of oil will come out on Wednesday if they don’t respect the provinces once and for all and take their foot off our back,” Governor Ignacio Torres of southern Chubut province told television channel C5N on Saturday.”

https://www.france24.com/en/live-news/20240224-oil-rich-argentine-provinces-threaten-to-cut-supply-in-dispute-with-milei


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“Taiwan Semiconductor Manufacturing Company opened its first chip plant in Japan on Saturday as it diversifies supply chains away from Taiwan amid intensifying U.S.-China trade tensions…

“Paul You, chairman of First Securities Investment Corporation said last month that the global semiconductor industry including Taiwan’s could be at risk from the U.S.-China chip war.”

https://www.cnbc.com/2024/02/26/tsmc-opens-new-plant-in-japan-as-it-diversifies-away-from-taiwan.html


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“Not knowing when the global debt crisis blows up doesn’t mean it won’t…

“Financial crises have a way of creeping up on the world like a thief in the night and they come from different causal directions. The next one is very likely to come from debt problems – unless beaten to it by a stock market crash – and it is already close on our heels.

“It may not appear that way because global debt has been mounting for decades and life goes on. But the nature of the debt threat has changed relatively recently along with rising interest rates, and the figurative “thief” is now a potential killer.”

https://www.scmp.com/comment/opinion/world/article/3252858/fugitive-thief-global-debt-now-potential-killer


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

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