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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“Climate Change Is Worsening Inflation And Pushing Food Prices Even Higher, Researchers Warn.

“…the researchers said their results show climate change will put “persistent upward” pressure of “considerable magnitudes” on inflation over the next few decades regardless of emissions trajectories, adding that mitigating greenhouse gas emissions and new technological solutions like space cooling projects could help limit the risk…”

https://www.forbes.com/sites/roberthart/2024/03/21/climate-change-is-worsening-inflation-and-pushing-food-prices-even-higher-researchers-warn/


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“Why are angry farmers blocking highways from Paris to New Delhi?

“Farmers in India and across Europe are protesting the impact of Russia’s war in Ukraine, rising competition and climate change mitigation, among other issues… Farmers say governments need to take drastic action if their way of life is to survive.”

https://www.nbcnews.com/news/world/farmers-protests-india-europe-ukraine-war-grain-prices-rcna143816


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“The great central bank policy reversal kicks off…

“…but the way down for borrowing costs will look very different from the way up. There will be no floodgates or fireworks. Instead, banks on opposite sides of the Atlantic are likely to move in the smallest increments with periodic pauses, fearing that ultra-low unemployment could rekindle inflation rates still above their targets.”

https://www.reuters.com/markets/rates-bonds/great-central-bank-policy-reversal-kicks-off-2024-03-22/


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“US Treasury key yield curve inversion becomes the longest on record…

“A key bond market signal of an upcoming recession has flashed red continuously for the longest time ever… The part of the Treasury yield curve that plots two-year and 10-year yields has been continuously inverted – meaning that short-term bonds yield more than longer ones – since early July 2022.”

https://www.reuters.com/markets/rates-bonds/us-treasury-key-yield-curve-inversion-becomes-longest-record-2024-03-21/


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“US energy secretary encourages Congress to ban uranium supplies from Russia.

“U.S. Energy Secretary Jennifer Granholm said on Wednesday she encourages the U.S. Congress to ban uranium supplies from Russia, as doing so would free up funds to support domestic development of fuel for next generation nuclear reactors.”

https://www.reuters.com/business/energy/us-energy-secretary-encourages-congress-ban-uranium-supplies-russia-2024-03-20/


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“US has urged Ukraine to halt strikes on Russian oil refineries…

“Nothing terrifies a sitting American president more than a surge in pump prices during an election year,” said Bob McNally, president of consultancy Rapidan Energy and a former White House energy adviser.”

https://www.ft.com/content/98f15b60-bc4d-4d3c-9e57-cbdde122ac0c


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“Kallas: Russia’s defeat crucial to avoid Third World War…

“The West must help Ukraine defeat Russia to avoid a wider conflict, Estonian prime minister Kaja Kallas has said, advocating more EU arms for Kyiv and heavier investment in Europe’s defence industry. “[If] Russia [were to] lose this war, then we don’t have to worry about the Third World War,” said Kallas…”

https://euobserver.com/world/158259


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“EU leaders urged to put economies ‘on war footing’ at Ukraine negotiations…

“EU leaders are to meet in Brussels to discuss ways to radically increase military and financial support for Ukraine amid calls for member states to put their economies “on a war footing” …rhetoric on Moscow has notably hardened in the past few days.”

https://www.theguardian.com/world/2024/mar/21/eu-leaders-urged-to-put-economies-on-war-footing-at-ukraine-negotiations


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“EU looks to bypass treaty ban on buying arms to support Ukraine…

“The European Commission, the bloc’s executive, has proposed that a legal task force revisit a crucial provision — known as Article 41(2) — that stops the EU common budget from funding “operations having military or defence implications”, according to four people familiar with the discussions.”

https://www.ft.com/content/b1f5a276-c1c8-44fc-9d07-d0d42b578314


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“Netherlands boosts defence spending amid NATO leadership bid…

“Amid escalating concerns over regional security and the resurgence of high-intensity warfare in Europe, the Netherlands is set to ramp up its defence expenditure, according to forecasts by GlobalData.”

https://www.army-technology.com/news/netherlands-boosts-defence-spending-amid-nato-leadership-bid/


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“Fastest rise in UK child poverty for 30 years [ie since records began], data shows…

“Some 25 per cent of children in 2022-23 were living below the poverty line, up from 23.8 per cent the previous year, representing the largest annual increase since records began in 1994-95, according to Department for Work and Pensions figures on Thursday.”

https://www.ft.com/content/dd180705-6331-4187-acd5-fc07ca6da3ac


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“UK government borrows more in February than forecast with highest debt since 1960s.

“Jeremy Hunt has been handed disappointing news from the public finances after government borrowing was higher than expected in February, leaving the national debt at the highest levels since the 1960s.”

https://www.theguardian.com/business/2024/mar/21/uk-government-borrowing-higher-than-expected-in-february


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“Sweden financial crisis – Intrum is struggling with mountain of debt…

“Intrum has risen to prominence over the past decade as one of Europe’s largest debt collectors, an industry that took off after the financial crisis by gobbling up swaths of “bad loans” from big retail banks — where customers were struggling with repayments — and doing the collections themselves. In the era of cheap money, these firms borrowed massively to fuel their expansion.”

https://www.bloomberg.com/news/articles/2024-03-22/sweden-financial-crisis-intrum-is-struggling-with-mountain-of-debt


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“New Zealand has slipped into its second recession in less than 18 months, according to government figures.

“New Zealand’s gross domestic product (GDP) shrank by 0.1 percent during the October-December period, following a 0.3 percent contraction in the third quarter, New Zealand’s official statistics agency said on Thursday.”

https://www.aljazeera.com/economy/2024/3/21/new-zealand-slips-into-second-recession-in-18-months


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“Global CEOs flock to China as tensions mount over export glut…

“There needs to be an honest conversation between the EU and China on what is this going to be… because it is hard for me to imagine that Europe will just sit by quietly and witness the accelerated deindustrialisation of Europe.”” [Jens Eskelund, president of the European Union Chamber of Commerce in China]

https://www.ft.com/content/7aa4e5b3-dc4e-41c5-a2a7-a82d7d227b31


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“US says Arunachal Pradesh is part of India, amid Indo-China tensions…

“The U.S. government recognizes Arunachal Pradesh as part of India and “strongly opposes” any unilateral attempts to advance territorial claims in the northeastern Indian state that shares a border with China, the U.S. State Department said on Wednesday.”

https://www.reuters.com/world/us-says-arunachal-pradesh-is-part-india-amid-indo-china-tensions-2024-03-20/


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“Kosovo Sets Date For Census Amid Tensions With Serbs…

“Census counts are delicate matters in many Balkan countries… Animosity between Kosovo and Serbia has persisted since the war between Serbian forces and ethnic Albanian insurgents in the late 1990s… Kosovo later declared independence in 2008, a move that Serbia along with its allies Russia and China have never acknowledged.”

https://www.barrons.com/news/kosovo-sets-date-for-census-amid-tensions-with-serbs-8cb94b88


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“The risk of more conflict is a top concern in the Caucasus…

“Respondents in both Armenia and Georgia listed “involuntary migration” in addition to “interstate conflict” among their top five perceived threats. Georgians also listed “the use of chemical, biological or nuclear weapons” as a Top 5 concern.”

https://eurasianet.org/the-risk-of-more-conflict-is-a-top-concern-in-the-caucasus-report


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“Turkish central bank raises key interest rate to 50% as inflation soars…

“Turkey’s central bank has raised its key interest rate by five percentage points, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain.”

https://www.breakingnews.ie/world/turkish-central-bank-raises-key-interest-rate-to-50-as-inflation-soars-1604609.html


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“Middle East Conflict Threatens Inflation Relief, SNB Chief Warns…

“Asked after the single greatest risk for monetary policy at the moment, Switzerland’s central bank chief named “the Middle East, where we have suddenly a negative supply shock with respect to energy.””

https://www.bloomberg.com/news/articles/2024-03-21/middle-east-conflict-threatens-inflation-relief-snb-chief-warns


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“Why shared water resources could become a source of conflict between nations of the Arab region…

“More than three billion people depend on water that originates outside their national boundaries, yet just 24 countries have cooperation agreements in place on their shared water resources.”

https://www.arabnews.com/node/2480711/middle-east


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“‘The problems are endless’: Farmers in Jordan mobilise against desertification and poor pay…

“Many farmers blame Israel for their problems. In 1964, Israel built dams upstream on the Jordan River, diverted it to its own agricultural land in the north and then disposed of industrial and agricultural wastewater into the Jordan River. Syria responded with more dams on the Yarmouk River…”

https://www.newarab.com/features/farmers-jordan-rally-against-desertification-and-poor-pay


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“The US finally backs a ceasefire, but the nuances in its UN resolution show the tightrope it walks…

“Washington’s draft UN security council resolution on Gaza marks a shift in the US position, but it is a nuanced shift, retaining the linkage between a ceasefire and hostage release while loosening that linkage and emphasising that an immediate end to hostilities is the priority.”

https://www.theguardian.com/world/2024/mar/21/us-un-ceasefire-gaza


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“We are about to witness in Gaza the most intense famine since the second world war…

“The Integrated Phase Classification (IPC) system, set up 20 years ago, provides the most authoritative assessments of humanitarian crises. Its figures for Gaza are the worst ever by any metric.”

https://www.theguardian.com/commentisfree/2024/mar/21/we-are-about-to-witness-the-most-intense-famine-since-world-war-ii-in-gaza


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“Undersea cable damage leads to internet blackouts in Africa…

“Internet access in parts of Africa has faced disruption since March 13 due to damages to multiple undersea telecommunication cables. Internet service providers say it may take weeks for the cables to be fixed to restore data services fully to users.”

https://www.dw.com/en/explainer-undersea-cable-damage-leads-to-internet-blackouts-in-africa/video-68625275


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“Zambians struggle to cope with staggered blackouts…

“On March 11, power utility Zesco Limited started the program, forcing businesses and residents to find alternative ways to cope with the situation.According to the government, the country faces an electricity deficit of 430 megawatts, which may reach 520 megawatts by December.”

https://www.cajnewsafrica.com/2024/03/21/zambians-struggle-to-cope-with-staggered-blackouts/


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“SA economic hub’s water system on verge of collapse‘…

“Rand Water Services, Africa’s biggest bulk-water supplier, on March 16 told three municipalities in the central Gauteng province — Johannesburg, Tshwane and Ekurhuleni, which have a combined population of more than 13 million people — that its system was on the verge of collapse.”

https://www.moneyweb.co.za/news/south-africa/sa-economic-hubs-water-system-on-verge-of-collapse/


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“U.S. Searching for a Way to Keep Troops in Niger…

“…in testimony before the House Armed Services Committee on Thursday, Celeste A. Wallander, an assistant secretary of defense, told lawmakers that the junta’s pronouncement might not be as dire as first thought, and that U.S. officials were trying to find a way for American troops to stay in the country.”

https://www.nytimes.com/2024/03/21/us/politics/niger-us-troops-coup.html


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“Haiti suspected gang members set on fire as conflict spreads to capital suburb…

“Suspected gang members were killed during an attack on the Petion-Ville neighborhood on the southern outskirts of Haiti’s capital, as a clash with police and locals pointed to a resurgence of vigilante justice while the state remains absent.”

https://www.reuters.com/world/americas/haiti-gang-war-spreads-upscale-suburb-embassies-evacuate-staff-2024-03-21/


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“World’s population to fall for first time since the Black Death.

“Global fertility rates hit an historic tipping point and are unlikely to recover, experts say… Experts have said the implications of a falling population for society will be “immense” as the old outnumber the young and increase pressure on health services and the workforce.”

https://www.telegraph.co.uk/world-news/2024/03/21/worlds-population-to-fall-for-first-time-since-black-death/


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

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