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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“Bumper election year to increase geopolitical insecurity… The 2024 major-election year is making the world more volatile and riskier for businesses due to potential systemic macroeconomic and geopolitical changes, according to Marsh’s latest Political Risk Report…

“It said issues with macroeconomic competition and geopolitical tensions are expected to bring long-term uncertainty to businesses…

“It also underscored the risks associated with the misuse of artificial intelligence (AI) by various actors, including non-state entities, adversarial states, politicians, and individuals, to propagate false information, thereby aggravating policy uncertainty and political violence risks.”

https://www.insuranceinsider.com/article/2cytv7vudh4zedr0vc16o/global-insurers-section/bumper-election-year-to-increase-geopolitical-insecurity-marsh


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“Trade disruption and distortion intensifying as geopolitical risks rise…

“State-led economic policies and geopolitical insecurity are giving rise to more frequent disruptions to global trade, making operational planning “unusually volatile”…”

https://www.gtreview.com/news/global/trade-disruption-and-distortion-intensifying-as-geopolitical-risks-rise-marsh-finds/


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“How doomsday preppers made gold and silver precious end-of-the-world assets…

“People’s interest in gold — and silver, too — reflect deep anxieties about our society and its future. “People are looking for permanence in a crumbling world,” said Timothy Morton, a philosopher and ecologist.”

https://www.cnbc.com/2024/03/14/why-doomsday-assets-like-gold-and-silver-are-doing-so-well.html


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“Activists Sound Alarm On Rise Of Global Authoritarianism…

“In a Tuesday press conference with the World Liberty Congress, the dissident [Masih Alinejad] now living in exile, said the group, made up of dissidents from 56 autocratic regimes, are calling “to sound the alarm on what we see as a rising tide of authoritarianism across the globe.”

https://www.iranintl.com/en/202403136029


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“New extremism definition unveiled because ‘democracy at risk from far-right and Islamist extremists’ [UK]…

“Michael Gove updates the description to include conduct that falls short of criminality, but the government still deems “unacceptable”… The government has unveiled its new definition of extremism despite warnings it could have a “chilling effect” on free speech.”

https://news.sky.com/story/new-extremism-definition-unveiled-despite-concerns-it-could-vilify-the-wrong-people-13094090


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“New report reveals millions on low incomes face poverty ‘tipping point’ as they struggle to pay for essentials [UK]…

“New research commissioned by national debt help charity Christians Against Poverty (CAP) is sounding the alarm about the growing number of low-income households being pulled into debt, simply to pay for essential living costs.”

https://www.lboro.ac.uk/subjects/social-policy-studies/news-events/news/2024/poverty-tipping-point-families-struggle-pay-bills/


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“Grant Shapps has called for defence spending to rise to 3% of GDP – as he confirmed a £2bn Chinook helicopters deal with Boeing.

“It marks a step up from the government’s previous target of 2.5% of GDP, which Mr Shapps had said would be possible “when conditions allow”.”

https://news.sky.com/story/grant-shapps-calls-for-uk-defence-spending-to-rise-to-3-of-gdp-13094267


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“Russia jammed the Global Positioning System (GPS) signal of the Defence Secretary’s official jet on a round trip to Poland.

“Grant Shapps was travelling on the RAF’s Envoy, a Dassault 900LX, to visit troops in Mazury, a military base near the Belarus border, when the aircraft’s pilots lost access to the GPS. The aircraft was passing by Kaliningrad…”

https://www.telegraph.co.uk/news/2024/03/14/grant-shapps-gps-jammed-aircraft-trip-poland-troops/


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“Hawkish Macron refuses to back down on possibility of Western troops in Ukraine.

“French President Emmanuel Macron doubled down on refusing to rule out sending troops to Ukraine during a 30-minute, prime-time television interview on Thursday in which he once again presented the war in Ukraine as an existential threat.”

https://www.politico.eu/article/im-right-about-not-being-specific-macron-says-doubling-down-on-strategic-ambiguity/


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“Denmark to Add $6 Billion to Defense, Start Drafting Women.

“Denmark’s government presented a plan to increase defense spending by more than 40 billion kroner ($6 billion) through 2028 and said it will start drafting women into its military to help counter an increased threat from Russia.”

https://www.bloomberg.com/news/articles/2024-03-13/denmark-will-add-6-billion-to-defense-budget-through-2028-ltps0hx7


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“Rheinmetall sees record sales in ‘new decade’ of defence spending.

“German arms manufacturer Rheinmetall expects record sales and increased profitability this year, as the war in Ukraine drives up defence spending in the NATO bloc in a trend set to buoy the company for years to come, it said on Thursday.”

https://finance.yahoo.com/news/rheinmetall-hails-decade-defence-spending-082226807.html


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“Europe’s refineries in demand as Ukraine war boosts oil margins…

“Europe’s refineries have been in long-term decline, as major oil companies shut plants to try to meet net zero emissions targets and face the threat of electric vehicles. But, with war in Ukraine and tensions in the Red Sea, energy analysts now believe they may have a profitable future after all…”

https://www.ft.com/content/68510c6f-cb6a-4c59-874c-f9770c162bcb


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“The outrageous anti-American rhetoric of the Hungarian government creates a risk that Budapest’s relations with Washington will change, states the US Ambassador to Hungary, David Pressman.

“According to him, the close relationship between Hungary and Russia is causing concern in Western countries. He notes that Hungary is an ally that behaves differently from others.”

https://www.msn.com/en-ca/news/world/hungary-s-insane-rhetoric-risks-altering-relations-with-us-ambassador/ar-BB1jUpcX


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“U.S., Japan conduct joint military exercises amid high tensions with China.

“Japan and the U.S. are expanding the scale of their joint military drills. NBC News’ Janis Mackey Frayer reports from Okinawa, where the most recent exercises were held.”

https://www.nbcnews.com/nightly-news/video/u-s-japan-conduct-joint-military-exercises-amid-high-tensions-with-china-206565445628


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“China Responds to India Tensions With New Military Drills Near Border…

“China has carried out a live-fire test at the contested border with India in a show of force as tensions between the two Asian giants fester… The live fire exercise by the People’s Liberation Army (PLA) showcased an advanced surface-to-air missile system. Video footage of the test was viewed over 514,000 times on Weibo.”

https://www.newsweek.com/china-india-xinjiang-live-fire-border-tension-military-1879108


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“Thousands of farmers protested on Thursday in India’s capital, demanding a new law for minimum crop prices.

“Due to barricaded highways, they traveled to New Delhi by crowded buses and trains instead of tractors. Authorities imposed conditions like banning farm vehicles and weapons to ensure peaceful protests.”

https://www.foxnews.com/world/protesting-farmers-flood-indias-capital-demanding-law-guarantee-minimum-crop-prices


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“US Senate leader Chuck Schumer calls for Israelis to replace Benjamin Netanyahu.

“Chuck Schumer, the Democratic leader of the US Senate, has called for new elections in Israel to replace Benjamin Netanyahu, saying the Israeli prime minister had “weakened Israel’s political and moral fabric” and had been “too willing to tolerate the civilian toll in Gaza . . . pushing support for Israel worldwide to historic lows”.”

https://www.ft.com/content/016176c3-161c-476d-9493-54e0ae1a325e


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“Report claims Yemen’s Houthis have hypersonic missile, potentially raising stakes in Red Sea crisis…

“Yemen’s Houthi rebels claim to have a new, hypersonic missile in their arsenal, Russia’s state media reported Thursday, potentially raising the stakes in their attacks on shipping in the Red Sea and surrounding waterways against the backdrop of Israel’s war with Hamas in the Gaza.”

https://www.marketwatch.com/story/report-claims-yemens-houthis-have-hypersonic-missile-potentially-raising-stakes-in-red-sea-crisis-36ea6762


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“How African countries became casualties of Sudan war and Red Sea maritime mayhem.

“Already plagued by complex internal problems, the economies of East Africa have perhaps been the most affected among regional states by the unfolding crisis in Sudan and the attacks on trade passing through the Red Sea.”

https://www.arabnews.com/node/2476361/amp


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“As the Africa debt crisis roils, over half of the countries have found themselves spending more money in servicing their loan obligations than even the amount they have budgeted for health services to their citizens…

“This unfolding scenario is further burdening millions of their citizens who have little choice but to shoulder heavy tax burdens to settle mountains of debt.”

https://theexchange.africa/countries/africa-debt-crisis/


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“Zoonotic disease vulnerability escalates amid Sudan’s armed conflict…

“With 140 million livestock, Sudan has been facing a dual challenge of endemic and transboundary animal diseases as well as zoonotic diseases, such as yellow fever and Crimean–Congo haemorrhagic fever [with the war] increasing the risk of zoonotic disease transmission to humans.”

https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(23)02458-3/fulltext


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“War comes to Sudan’s capital — at vast human cost…

“Millions of people have been forced to flee Khartoum and its twin cities of Omdurman and Bahri, once home to a combined 10mn people. Even the government, led by President Abdel Fattah al-Burhan, has decamped to Port Sudan, 670 kilometres north-east on the Red Sea coast.”

https://www.ft.com/content/c3bfe4cd-80fc-4fcc-987b-f8b108cf3d5a


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“DRC: 7 million displaced and “unprecedented” crisis, according to the UN.

“Escalating violence in eastern Democratic Republic of Congo has led to the displacement of at least 250,000 people over the past month, a senior United Nations official said on Wednesday, describing the situation as a humanitarian crisis.”

https://www.africanews.com/2024/03/14/drc-7-million-displaced-and-unprecedented-crisis-according-to-the-un/


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“Forgotten droughts: These five regions of the world could soon face conflict over water…

“According to the Water Peace and Security partnership (WPS) – a group of organisations dedicated to tracking resource scarcity – several countries are at high risk of conflict over resources in the next 12 months. The world isn’t listening, warns WPS coordinator Susanne Schmeier.”

https://uk.news.yahoo.com/forgotten-droughts-five-regions-world-150649277.html


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“Pandemic left much of the world on lower human development trajectory…

“Dozens of poor nations have yet to regain their pre-pandemic levels of overall well-being, amid signs that the pandemic may have permanently depressed the world’s development trajectory, according to a U.N. report… The gap between the richest and the poorest in our world has widened…”

https://www.washingtonpost.com/business/2024/03/13/united-nations-poor-countries-pandemic/


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“The world is at risk of energy shortages unless more money is invested in drilling for oil and gas, Shell has warned.

“The energy giant said global investment in low carbon energy was only half what is needed, meaning the world will face the risk of blackouts and power shortages in future unless alternative energy sources are secured. The warning came as Shell watered down a key climate pledge…”

https://www.telegraph.co.uk/business/2024/03/14/world-at-risk-energy-shortages-net-zero-shift-shell-warns/


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“Wood energy giant Enviva files for bankruptcy…

“One of the world’s biggest producers of wood pellets sold to power utilities has filed for US bankruptcy, a downfall for a business seen by investors as a promising source of green energy.”

https://www.ft.com/content/8af60bfa-f661-43e8-9096-e84b3884040d


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“Corporate defaults at highest rate since global financial crisis, says S&P…

“More companies have defaulted on their debt in 2024 than in any start to the year since the global financial crisis as inflationary pressures and high interest rates continue to weigh on the world’s riskiest borrowers, according to S&P Global Ratings.”

https://www.ft.com/content/f811649b-f66d-43aa-8a66-2412a4f0be50


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

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