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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“Taylor Swift among 141 new billionaires in ‘amazing year for rich people’.

“There are more billionaires than ever before. The world has 2,781 people with fortunes exceeding $1bn (£800m), an increase of 141 on 2023… The billionaires are also collectively worth more than ever, with combined assets estimated at $14.2tn – a $2tn increase on 2023 and more than the GDP of every country except the US and China.”

https://www.theguardian.com/business/2024/apr/02/world-gains-141-new-billionaires-in-amazing-year-for-rich-people


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“America will be left with ‘severe, irreversible scars’ if national debt goes unchecked. Now, a blockbuster report warns the bill is higher than believed, hitting $141T by 2054…

“In the near term, the CBO expects debt as a percentage of GDP to exceed the record peak of the Second World War by 2029.”

https://fortune.com/2024/04/01/america-social-economic-scars-us-debt-gomes-price/


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“A Million Simulations Shows US Debt Danger…

“…fresh analysis from Bloomberg Economics offers a sobering perspective. Throw in a whole bunch of different potential combinations of economic variables — some 1 million of them — and 88% of the time, the results show that the debt-to-GDP ratio is on an unsustainable path.”

https://www.bloomberg.com/news/newsletters/2024-04-02/a-million-simulations-shows-us-debt-danger


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“Banks will have to cut their exposure to commercial real estate because of a $2tn “wall” of property debt coming due in the next three years, according to a leading US brokerage.

““Banks will be under pressure,” said Barry Gosin, chief executive of Newmark, which handled $50bn of loan sales for failed Signature Bank.”

https://www.ft.com/content/18526885-7b0d-4e58-b8b6-66dabd03b00e


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“‘We’ve had enough’: Protests over carbon price hike halt traffic across Canada…

“Anger over the increase to the federal carbon price led to protests across the country Monday, including several that stalled traffic on the Trans-Canada Highway and at provincial border crossings.”

https://globalnews.ca/news/10395581/carbon-price-hike-protests-canada/


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“Cost of living crisis: How desperate Aussies on six-figure salaries are now turning to Afterpay to buy groceries and petrol…

“To buy everyday essentials, Australians are using a buy now, pay later app to buy Coles and Woolworths gift cards, with those on six-figure salaries now increasingly doing this out of financial desperation.”

https://www.dailymail.co.uk/news/article-13265625/Cost-living-crisis-desperate-Aussies-six-figure-salaries-turning-Afterpay-buy-groceries-petrol.html


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“[UK] Government in row over whether homeless could be arrested because they smell.

“…critics claim that the new Criminal Justice Bill is even harsher than the old laws governing homelessness, and will threaten rough sleepers with fines and even jail “for the way they look or smell”… The proposed rough-sleeping legislation has provoked a backlash from homelessness charities and a rebellion of over 40 Tory MPs.”

https://www.telegraph.co.uk/politics/2024/04/02/government-in-row-over-whether-homeless-could-be-arrested-b/


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“Welcome to Britain – where energy rationing risks becoming the norm…

“As I write, we’re importing 25pc of our power, an astonishing amount for a country so blessed with natural resources and know how. We produce only two thirds of the energy we did in 1999. But there will be days to come where no one has any to spare to lend us.”

https://www.telegraph.co.uk/business/2024/04/01/welcome-britain-energy-rationing-risks-norm/


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“The UK may just have had the wettest 18 months on record – but it could still face water shortages and hosepipe bans this year if the summer is hot and dry, scientists are warning.

“That’s because water storage facilities have so little capacity that the country cannot stockpile enough…”

https://inews.co.uk/news/environment/uk-water-shortages-wettest-months-record-2985618


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“According to the Textile Recycling Association (TRA), the textile recycling industry is due to “imminently collapse” because of global market challenges…

“It highlights that not collecting waste textiles will result in “devastating environmental consequences” including microplastic pollution and water pollution.”

https://www.letsrecycle.com/news/tra-warns-of-imminent-collapse-of-textile-recycling-industry/


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“Germany could spend up to $9.7 billion more on defense from 2028…

“German Finance Minister Christian Lindner sees scope for up to 9 billion euros ($9.7 billion) in additional defense spending from 2028 if the country can reduce its debt levels, he said in comments to the DPA news agency published on Tuesday.”

https://english.alarabiya.net/News/2024/04/02/germany-could-spend-up-to-9-7-billion-more-on-defense-from-2028


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“Czech arms manufacturers thrive amid global tensions…

“Czech arms manufacturers are thriving and reporting record sales as a result of the war in Ukraine and heightened global tensions, Czech media report. Some of Czechia’s largest companies in the sector reported record sales last year…”

https://www.euractiv.com/section/politics/news/czech-arms-manufacturers-thrive-amid-global-tensions/


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“Trump-proofing weapons for Ukraine: Allies consider moving arms group into NATO.

“The U.S. and other Western countries are considering transferring to NATO a U.S.-led multinational group that coordinates the shipment of weapons to Ukraine, one of several new proposals that could help maintain the flow of arms to Kyiv under a second Donald Trump presidency.”

https://www.politico.com/news/2024/04/02/allies-consider-moving-ukraine-arms-group-into-nato-to-shield-it-from-trump-00150151


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“Milei vows roadmap towards Argentine sovereignty over British-ruled Falkland Islands…

““I want to reiterate our unwavering claim for the islands, and I commit that during our government we will be able to have a clear roadmap so that the Malvinas return to Argentine hands,” Milei said Tuesday…”

https://edition.cnn.com/2024/04/02/americas/falklands-milei-argentina-sovereignty-roadmap-intl-latam/index.html


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“Venezuela Labels Argentina’s Milei a ‘Neo-Nazi’ Over Renewed Sanctions Threats…

““The macabre expectations of the neo-Nazi will again fail, Venezuela is advancing at a good pace, and will defeat every effort by the imperial lackeys,” said Gil on social media. “Instead of wagging your tail for your masters, worry yourself about the internal affairs of your country, which are already quite tangled,” he added.”

https://venezuelanalysis.com/news/venezuela-labels-argentinas-milei-a-neo-nazi-over-renewed-sanctions-threats/


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“Guyana President Ali’s Statements Threaten Peace: Padrino…

“On Monday, Venezuelan Defense Minister Vladimir Padrino warned about the warlike implications contained in recent statements of Guyana’s President Irfaan Ali… The Ali administration has been allying with countries like the U.S., the UK, France, and Canada.”

https://www.telesurenglish.net/news/Guyana-President-Alis-Statements-Threaten-Peace-Padrino-20240401-0009.html


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“Haiti has become an ‘open air prison’ with ‘apocalyptic’ violence tearing up the streets three weeks on since the prime minister resigned, the UN has warned.

“Gang members who now run the streets in the war-torn Caribbean nation are equipped with military-grade guns which have been illegally shipped from the US.”

https://www.dailymail.co.uk/news/article-13260453/haiti-warning-violence-open-air-prison-men-hacked-death-revolution.html


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“Economist Omu Kakujaha-Matundu says consumers’ cost-of-living crisis is expected to worsen, following steep price hikes in both petrol and diesel [Namibia]…

“This comes as the Ministry of Mines and Energy yesterday announced that the petrol price would increase by N$1,52 and both diesel prices by 72 cents today.”

https://www.namibian.com.na/fuel-hikes-to-worsen-cost-of-living-crisis/


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“Ghana: What’s causing the ‘dumsor’ blackouts?

“Ghanaians are reeling under power cuts popularly known as “dumsor.” Now, unpaid utility bills, poor infrastructure maintenence and a stuttering economy threaten to plunge the entire country back into rolling outages.”

https://www.dw.com/en/dumsor-blackouts-plague-ghana/a-68719530


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“Anti-LGBT+ law puts Ghana’s IMF and World Bank funding at risk, finance ministry warns…

“Ghana, which is seeking to recover from its worst economic crisis in a generation, could lose $3.8bn in World Bank financing over the next five to six years if President Nana Akufo-Addo signs the bill into law, according to a finance ministry memo seen by the Financial Times.”

https://www.ft.com/content/22eefd82-5edb-4b30-868b-ed6bce67242d


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“7 World Central Kitchen aid workers were killed in Gaza. What it means for the ongoing conflict and what’s next…

“Meanwhile, WCK has halted food aid work in Gaza and the United Arab Emirates… Ships carrying roughly 240 tons of vital humanitarian food aid have now turned back from Gaza, according to Cyprus officials.”

https://www.yahoo.com/news/7-world-central-kitchen-aid-workers-were-killed-in-gaza-what-it-means-for-the-ongoing-conflict-and-whats-next-173039725.html


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“Egypt’s foreign minister has warned of the threat to security posed by the widening scope of conflict in the region…

“Egyptian ministry spokesperson, Ahmed Abu Zeid, said Shoukry had noted Cairo’s concerns about the spread of conflict in the region, especially in the area south of the Red Sea, and its serious impact on shipping and international maritime trade.”

https://www.arabnews.com/node/2486471/middle-east


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“Iran vows retaliation on Israel after commanders’ deaths, growing fears of war spiraling…

“Monday’s airstrike on the Syrian capital is reverberating across the Middle East, raising fears that the war between Israel and Hamas could flare into a wider conflict. On Tuesday, Iran vowed retaliation for the suspected Israeli attack on its embassy compound in Damascus…”

https://www.nbcnews.com/news/world/iran-israel-retaliation-airstrike-damascus-embassy-rcna145979


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“Azerbaijan and Armenia have traded accusations of attacks along their shared borders a day after Azerbaijan accused Armenia of building up its military presence on the border.

“On Tuesday morning, Azerbaijan’s Ministry of Defence accused Armenia of firing at positions in Sadarak and Shahbuz in Nakhchivan the night prior.”

https://oc-media.org/clashes-reported-on-armenia-azerbaijan-border/


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“India rejects China’s renaming of 30 places in Himalayan border state…

“Yet the state is frequently the cause of friction between the Asian giants whose ties have nosedived since a bloody border clash between their troops in the western Himalayas in 2020… On Monday, Indian Foreign Minister Subrahmanyam Jaishankar told reporters that “changing names will not do anything”.”

https://www.reuters.com/world/india/india-rejects-chinas-renaming-30-places-himalayan-border-state-2024-04-02/


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“Philippines preparing for ‘worst case scenario’ in South China Sea…

““We are ready for what they are going to do. The troops stationed at Sierra Madre are prepared for the worst-case scenario,” Vice-Admiral Alberto Carlos said. “We are studying all options. It’s unacceptable if we are going to stop the resupply mission.””

https://www.independent.co.uk/asia/southeast-asia/philippines-south-china-sea-diplomacy-latest-b2521922.html


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“Geopolitical Risk Looms Over Commodity Markets…

“…any escalation or development has the potential to disrupt global markets and lead to market uncertainty. Investors and participants should remain vigilant as economic factors such as the Ukraine-Russia conflict and regional unease in the Middle East continue to cast shadows of doubt over global economic stability.”

https://oilprice.com/Metals/Commodities/Geopolitical-Risk-Looms-Over-Commodity-Markets.html


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“Gold shatters new records as Mideast tensions add to bullish mix…

“Gold scaled yet another record peak on Tuesday as traders snapped up the safe haven asset amid growing Middle East tensions, largely ignoring a stronger dollar and tempered bets for U.S. rate cuts. Spot gold was up 0.8% at $2,268.44 per ounce by 2:07 p.m. EDT (1807 GMT), after hitting an all-time high of $2,276.89.”

https://www.reuters.com/markets/commodities/gold-hovers-below-record-peak-us-dollar-yields-firm-after-upbeat-data-2024-04-02/


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“Pentagon Urged to Just Say No to AI-Powered Killer Robots…

“The watchdog group Public Citizen on Tuesday led a letter urging Pentagon leaders “to clarify that the Replicator Initiative will not involve the development and deployment of autonomous weapons systems,” also known as “killer robots.””

https://www.commondreams.org/news/killer-robots


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“Pentagon launches tech to stop AI-powered killing machines from going rogue on the battlefield due to robot-fooling visual ‘noise’…

“The news comes as fears that the Pentagon has been ‘building killer robots in the basement’ have allegedly led to stricter AI rules for the US military — mandating that all systems must be approved before deployment.”

https://www.dailymail.co.uk/sciencetech/article-13265405/us-pentagon-tech-ai-killing-systems-battlefield.html


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

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