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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“The price of cocoa surged through $10,000 per ton for the first time on Tuesday, as a dizzying rise in prices caused by poor harvests in Africa accelerates…

“The market was “out of control”, said Andrew Moriarty, price reporting manager at Mintec, a commodities data group. “Everyone is just bracing for impact.” Poor weather and disease have slashed crop yields in Ivory Coast and Ghana, which together produce more than two-thirds of the world’s beans.”

https://www.ft.com/content/c847251c-0940-46b3-899c-5e38e720d484


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“Ghana is set to lose access to a key funding facility as a crisis in its cocoa crop has left it without enough beans to secure the funds.

“It’s the latest sign of the fallout from the extreme weather and disease that’s hit cocoa output in both Ghana and neighboring Ivory Coast, the biggest grower.”

https://www.bloomberg.com/news/articles/2024-03-25/cocoa-crisis-deepens-as-ghana-is-set-to-lose-access-to-bank-loan


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“The $280 Billion Climate Bond Market That Isn’t Working…

“CBI’s research found that just 14% of SLBs issued are aligned with the Paris Agreement target of limiting global warming to well under 2C from pre-industrial times, according to its own assessment methodology.”

https://www.bloomberg.com/news/articles/2024-03-26/the-280-billion-climate-bond-market-that-isn-t-working


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“Could the Bond Market crash and, if so, what would that mean for your money?

“…He says that the exposure to debt that all the main western powers have is so extreme and so huge (particularly Japan which has around 260% debt to GDP ratio!) that it’s unsustainable and has to come crashing down at some point.”

https://www.moneymagpie.com/jasmines_column/could-the-bond-market-crash-and-if-so-what-would-that-mean-for-your-money-the-tin-hat-money-podcast


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“Japan steps up intervention warnings as yen slides to weakest level since 1990…

“The recent drop comes despite the Bank of Japan’s pivot from its ultra-loose monetary policy, which some analysts had expected to exert upward pressure on the yen. The BoJ last week raised interest rates for the first time since 2007…”

https://www.ft.com/content/5421159d-e2b4-4856-bc5e-e1287271e33e


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“Is America at risk of a bond market meltdown? This watchdog thinks so…

“The United States risks a bond market crisis of the kind that engulfed the United Kingdom 18 months ago, sending yields soaring and sparking a run on the pound, according to Congress’s independent fiscal watchdog.”

https://edition.cnn.com/2024/03/26/business/us-debt-cbo-warning/index.html


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“The Economic Impact Of The Baltimore Bridge Collapse Will Linger, Contributing To Inflation…

“Considering the bridge’s role in facilitating interstate commerce and its position as part of the I-695 corridor, a major link in the Interstate 95 network, the disruption will snarl freight movements and create logistical challenges, leading to delays heading into Easter weekend and in the longer term, increased costs for shipping and transportation industries…”

https://www.forbes.com/sites/chloedemrovsky/2024/03/26/the-economic-impact-of-the-baltimore-bridge-collapse-will-linger-contributing-to-inflation/


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“Britain’s barren boozers: Pubs say cost of living crisis and huge rises in energy bills means they have had to scale back operations with some venues closing as early as 8pm…

“…a poll of British Beer and Pub Association (BBPA) members found 32 per cent had reduced their hours due to high costs.”

https://www.dailymail.co.uk/news/article-13234389/Britains-barren-boozers-Pubs-say-cost-living-crisis-huge-rises-energy-bills-means-scale-operations-venues-closing-early-8pm.html


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“Tractors descend on Parliament over ‘betrayal’ of British farmers in post-Brexit trade deals…

“Organised by Save British Farming and the Kent Fairness for Farmers group, they are calling for an end to a number of post-Brexit trade deals, which they claim are allowing imports into the country that fall short of UK standards.”

https://news.sky.com/story/tractors-descend-on-parliament-over-betrayal-of-british-farmers-in-post-brexit-trade-deals-13101822


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“Brussels: Metro station set on fire as farmers’ protests continue in Belgium.

“Farmers’ protests that have been widespread across Europe for several months continued in the Belgian capital. The group has been demonstrating against what they consider adverse EU regulations and unfair prices.”

https://news.sky.com/video/brussels-metro-station-set-on-fire-as-farmers-protests-continue-in-belgium-13102667


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“Child poverty in Germany reaches record high.

“Nearly 17 percent of Germans live in poverty, according to latest statistics. Two thirds of people living in poverty belong to the working poor, criticise welfare associations. They are particularly alarmed by the number of children living in poverty.”

https://www.dw.com/en/child-poverty-in-germany-reaches-record-high/video-68675022


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“Poverty in Italy hits new high despite economic recovery…

“Those living in “absolute poverty” – who were unable to buy essential goods and services – rose to 5.75 million, or 9.8% percent of the population, national statistics bureau ISTAT reported. That’s up marginally from 9.7% in 2022 and the highest since the current data series began in 2014.”

https://www.reuters.com/markets/europe/poverty-italy-hits-new-high-despite-economic-recovery-2024-03-25/


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“Could corruption bring down Spain’s government again?

“Just four months into its second term, Spain’s Socialist-led government is already mired in corruption allegations. The latest scandal emerged this week and focuses on the wife of prime minister Pedro Sanchez, Begoña Gómez.”

https://www.spectator.co.uk/article/could-corruption-bring-down-spains-government-again/


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“Thousands protest against Hungary’s Orban after former insider leaks graft case tape…

“Peter Magyar earlier published a recording of a conversation with Judit Varga, then his wife and Hungary’s justice minister, in which she detailed an attempt by aides to Orban’s cabinet chief to remove certain parts from documents in a graft case.”

https://www.reuters.com/world/europe/thousands-protest-against-hungarys-orban-after-former-insider-leaks-graft-case-2024-03-26/


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“‘I’m not profiting from misery. I’m averting more’ – Thales’s UK boss on making missiles for Ukraine…

“In Britain, defence accounts for most of its business – and is growing rapidly. Since the outbreak of war in Ukraine in February 2022, the group’s shares have gained more than 80%, its value has swelled to €33bn and its order book has reached a record high, at €45bn.”

https://www.theguardian.com/business/2024/mar/26/im-not-profiting-from-misery-im-averting-more-thaless-uk-boss-on-making-missiles-for-ukraine


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“Defense And Aerospace Stocks To Watch…

“…this new focus on national and international security… is leading countries to bulk up their military posture, which should generate demand for U.S. defense contractors. Current events in The Middle East add to the uncertainty.”

https://www.investors.com/news/defense-and-aerospace-stocks-to-watch-and-industry-news/


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“Japan gets out of post-World War pacifism, allows sale of fighter jets…

“Japan’s cabinet on Tuesday (March 26) gave the green light for the export of new fighter jets currently under development in collaboration with the United Kingdom and Italy. The move signals Tokyo’s growing assertiveness in defence partnerships amid its evolving security posture.”

https://www.wionews.com/world/japan-gets-out-of-post-world-war-pacifism-allows-sale-of-fighter-jets-704548


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“Chinese ex-trade negotiator who backed Trump slams US for ‘dismantling the system’ of global trade.

“Long Yongtu tells Boao Forum for Asia that ‘globalised economic and trade systems are at stake’, and targeting Chinese companies in Mexico would mean higher prices for Americans.”

https://www.scmp.com/economy/global-economy/article/3256817/former-chinese-trade-negotiator-who-backed-trump-condemns-washington-dismantling-system-global-trade


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“‘Statement to China’: India’s strategic Sela tunnel raises tensions as New Delhi boosts border control.

“The opening of the world’s longest twin-lane tunnel sparked a war of words between Beijing and New Delhi, as each claims Arunachal Pradesh for its own. The tunnel enables all-weather troop deployments and other movements…”

https://www.scmp.com/week-asia/politics/article/3256688/statement-china-indias-strategic-sela-tunnel-raises-tensions-new-delhi-boosts-border-control


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“India backs Philippines amid sea tensions with China…

““The progress and prosperity of this region is best served by staunch adherence to rules-based order (and) UNCLOS is particularly important as the constitution of seas,” Indian Foreign Minister S Jaishankar told a news conference streamed live from Manila.”

https://www.aa.com.tr/en/asia-pacific/india-backs-philippines-amid-sea-tensions-with-china/3175454


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“Dozens arrested as Indian capital hit with protests over arrest of Delhi leader and Modi rival…

“Indian police arrested several protesters to prevent them from marching to prime minister Narendra Modi’s home to demand the release of Delhi chief minister Arvind Kejriwal who was arrested on graft charges last week.”

https://www.independent.co.uk/asia/india/delhi-protests-arrest-aap-arvind-kejriwal-modi-b2518678.html


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“Conflict, climate, corruption drive Southeast Asia people trafficking: UN…

“Tens of thousands of people from Myanmar as well as from other parts of Southeast Asia and from outside the region are smuggled to, through and from Indonesia, Malaysia and Thailand every year, the UNODC said…”

https://www.aljazeera.com/news/2024/3/26/conflict-climate-corruption-drive-southeast-asia-people-trafficking-un


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“Warnings against normalising conflict as Yemen marks decade of war…

““While the truce reduced some violence, it hasn’t ever brought the stability families desperately need to rebuild their lives. Above everything else, families in Yemen need an official ceasefire; without one, families are left in limbo.””

https://www.aljazeera.com/news/2024/3/25/report-millions-of-children-out-of-school-in-yemen


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“South Sudan on the brink after oil exports derailed by Sudan’s civil war…

““The pipeline accounts for two-thirds or three-quarters of oil revenues. Unless [South Sudan] is able to get the pipeline working again, it will be a massive pull on South Sudan’s budget,” said Alan Boswell…”

https://www.aljazeera.com/features/2024/3/26/south-sudan-on-the-brink-after-oil-exports-derailed-by-sudans-civil-war


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“Gaza’s hungry eat wild plant with no aid relief in sight…

“As the U.N. Security Council demands an immediate ceasefire in Gaza and concerns grow that famine may take hold, the territory’s hungry civilians are foraging for a wild green plant called Khobiza for lack of anything else to eat.”

https://www.reuters.com/world/middle-east/gazas-hungry-eat-wild-plant-with-no-aid-relief-sight-2024-03-25/


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“Starvation: Anatomy of ‘a very cruel, slow death’…

“Starvation occurs over three stages. The first starts as early as a skipped meal; the second comes with any prolonged period of fasting when the body relies upon stored fats for energy… The third, and often fatal, stage is when all stored fats have been depleted and the body turns to bone and muscle as sources of energy.”

https://www.aljazeera.com/news/2024/3/27/starvation-anatomy-of-a-very-cruel-slow-death


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“A vortex of violence and poverty – starving families take shelter from Haiti capital’s battlefield.

“What should be a beautiful Caribbean country with a vibrant capital is stuck in a vortex of violence and poverty – and a leadership void. People are praying things get better, but many fear it could actually get worse.”

https://news.sky.com/story/a-vortex-of-violence-and-poverty-starving-families-take-shelter-from-the-battlefield-of-haitis-capital-13101866


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“Unexploded bombs from the second world war are getting more dangerous…

“There are millions of tonnes of unexploded ammunition around the world, some in old ammunition dumps and some in shells and bombs that failed to detonate after being fired or dropped. There is a widespread misconception that this unexploded ammunition is becoming less dangerous over time…”

https://www.newscientist.com/article/2424313-unexploded-bombs-from-the-second-world-war-are-getting-more-dangerous/


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Here’s How Nuclear War Could “Destroy Civilization” in Just a Few Hours…

“Twenty-four minutes. That’s how long it would take—just 1,440 seconds—for a nuclear warhead to travel from North Korea to the largest nuclear power plant in California, where it could set off a chain reaction of events that bring human civilization back to the Stone Age.”

https://www.vanityfair.com/news/how-nuclear-war-could-destroy-civilization


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“A US space startup is planning to sell advertising space on the Moon after penning a deal with a creative agency.

“California-based Astrolab already has an agreement in place with SpaceX to send its jeep-sized rover to the Earth’s natural satellite aboard the next-generation Starship rocket.”

https://www.independent.co.uk/space/moon-adverts-astrolab-spacex-space-b2518980.html


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

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