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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“Banks Unwilling To Finance $5 Trillion Global Nuclear Development…

“…nuclear’s revival might be dead in the water with lenders balking at financing what they consider a high-risk sector. Last month, the International Atomic Energy Agency convened the first ever nuclear summit in Brussels. Unfortunately, bankers appeared unwilling to finance the $5 trillion the IAEA estimates the global nuclear industry needs for development until 2050.”

https://oilprice.com/Alternative-Energy/Nuclear-Power/Banks-Unwilling-To-Finance-5-Trillion-Global-Nuclear-Development.html


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“Global mining investment too low to support energy transition, Rio Tinto chairman says…

“”The gap is humungous, and I am actually very worried about whether we will be able to close (it),” Dominica Barton said via video link… The global effort to slash climate-warming carbon dioxide emissions will depend on securing large supplies of minerals like copper, lithium and cobalt required to build electric vehicles, solar plants and wind farms.”

https://www.reuters.com/sustainability/climate-energy/global-mining-investment-too-low-support-energy-transition-rio-tinto-chairman-2024-04-15/


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“Record Surge in Global Coal Capacity Led by China…

“Continued expansion in China’s coal fleet and a slowdown in plant retirements in the United States and Europe in 2023 resulted in the highest net increase in global operating coal capacity since 2016, research group Global Energy Monitor said in its annual survey.”

https://oilprice.com/Energy/Coal/Record-Surge-in-Global-Coal-Capacity-Led-by-China.html


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“Central Banks Grapple With Inflation Threat Amid Oil Price Rally…

“…when economies are in an already precarious situation, inflation-wise, higher oil prices are the last thing they need. And yet higher oil prices are exactly what the troubled U.S. and European economies are currently getting. And it might get worse.”

https://oilprice.com/Energy/Energy-General/Central-Banks-Grapple-With-Inflation-Threat-Amid-Oil-Price-Rally.html


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“Emerging Markets Battle Weak Currencies as Dollar Crushes Peers.

“Currency intervention has become a key battleground in emerging markets, especially Asia, as the latest leg up in the dollar piles pressure on officials to act… Faster-than-expected US inflation data last week damped bets on Federal Reserve interest-rate cuts…”

https://www.bloomberg.com/news/articles/2024-04-14/emerging-markets-battle-weak-currencies-as-dollar-crushes-peers


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“Japan to take all necessary steps amid yen’s fall: finance chief…

“The wide interest rate differential between Japan and the United States has been blamed for the yen’s fall. A spike in tensions in the Middle East following Iran’s retaliatory attack on Israel over the weekend added another source of uncertainty in financial markets.”

https://english.kyodonews.net/news/2024/04/2fe04a25cbda-urgent-japan-to-take-all-necessary-steps-amid-yens-fall-finance-chief.html


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“New Zealand’s state-sector job cuts cast more gloom on recession-hit economy.

“The government’s ongoing public-sector job cuts have resulted in the worst-ever employment market, recruiters say. Amid a technical recession, New Zealand’s unemployment rate could rise to 5 per cent by the end of the year, according to economists.”

https://www.scmp.com/week-asia/economics/article/3258901/new-zealands-public-job-cuts-cast-more-gloom-recession-hit-economy


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“Crippling mortgages and £16 olive oil: how much have UK prices risen in the past two years?

“The government might be celebrating falling inflation, but higher prices for goods and services are here to stay… Analysis by the Observer shows British households are now spending between 35% and 50% more for products and services than in April 2022…”

https://www.theguardian.com/business/2024/apr/13/inflation-how-much-have-uk-prices-risen-in-two-years


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“Last year was the worst on record for weather damage insurance claims, with £573 million paid out, according to figures from the Association of British Insurers.

“High levels of flooding, burst pipes and storm damage resulted in a 36 per cent increase in such claims compared with 2022.”

https://www.thetimes.co.uk/article/weather-damage-insurance-claims-are-worst-on-record-hl7ff63mm


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“Inflation in France: Crowdfunding has become a lifeline for struggling households…

“When they were first created, online fundraisers were mainly used to pay for joint gifts, trips, personal projects, or farewell parties. However, the nature of the projects being funded has gradually changed.”

https://www.lemonde.fr/en/economy/article/2024/04/15/inflation-in-france-crowdfunding-comes-to-the-rescue-of-struggling-people_6668424_19.html


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“Serbia to buy French fighter jets in pivot away from Russia…

“…as pressure from Europe and the US increased, President Vučić started to allow shipments of Serbian-made ammunition to Ukraine, and to buy western weapons in addition to Chinese and Russian systems currently in use by the Serbian armed forces.”

https://www.ft.com/content/fa26d185-6b54-481a-b5b8-1ff41a0ab724


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“War in Ukraine Enters New Phase That Puts Energy in Crosshairs…

“Both sides are now targeting energy assets to hit their enemy’s economy, and the collateral damage is showing up in global markets… “What’s changed is that targets that were previously off limits are now coming into play…”

https://www.bloomberg.com/news/articles/2024-04-13/war-in-ukraine-enters-new-phase-with-power-oil-gas-attacked


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“Russia’s Defense Ministry said it carried out a successful test launch of an intercontinental ballistic missile on Friday…

“”The launch was carried out as part of state tests of promising missile systems, as well as a check-up of the stability of missiles in service. The results obtained confirm the high reliability of Russian missiles to ensure the strategic security of the Russian Federation,” it said.”

https://www.dailysabah.com/world/europe/russia-conducts-test-launch-of-intercontinental-ballistic-missile


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“Russian Metal Hit With Sanctions as US Blocks Deliveries to LME…

“The US and UK imposed new restrictions on trading Russian aluminum, copper and nickel that will reverberate across global metal markets, in the latest bid to curb President Vladimir Putin’s ability to fund his war machine.”

https://www.bloomberg.com/news/articles/2024-04-12/us-imposes-sanctions-on-use-of-russian-metals-on-exchanges?embedded-checkout=true


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“Exclusive: Russia and China trade new copper disguised as scrap to skirt taxes, sanctions…

“Copper wire rod was shredded in the remote Xinjiang Uyghur region by an intermediary to make it hard to distinguish from scrap, the sources said, allowing both exporters and importers to profit from differences in tariffs applied to scrap and new metal, the sources said.”

https://www.reuters.com/markets/commodities/russia-china-trade-new-copper-disguised-scrap-skirt-taxes-sanctions-2024-04-15/


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“China coastguard blocks Philippines vessels as maritime tension grows…

““This really is unprecedented: they intercepted them just as they crossed that nine-dash line claim,” said Ray Powell, SeaLight director. Neither the Philippines nor China has commented on the incident.”

https://www.ft.com/content/ad828ec4-d699-49a4-8751-b4cf0d44cf78


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“Myanmar’s conscription plan backfires as young people flee to join rebel army.

“Jenny is one of hundreds of young people flocking to rebel-held territory to escape being conscripted into the Burmese army as it tries to plug major troop shortages. Ever since the 2021 coup, the commander-in-chief Min Aung Hlaing and his forces have done everything in their power to stamp out any opposition…”

https://www.telegraph.co.uk/world-news/2024/04/13/myanmar-conscription-backfires-young-people-join-rebels/


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“Azerbaijan and Armenia will fight out a long-running “ethnic cleansing” dispute at the top United Nations court from Monday, just as military tensions are ramping up between the historic enemies.

“Robed lawyers from the two countries embark on two weeks of hearings, wrestling over interpretations of international law in the gilded Peace Palace of the International Court of Justice.”

https://www.yahoo.com/news/armenia-azerbaijan-clash-un-top-052554714.html


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“President Joe Biden is said to be privately fearing a ‘catastrophic escalation’ as Israel draws up plans to retaliate against Iran’s unprecedented 350-missile strike…

“Israeli President Isaac Herzog described the Iranian attack as a ‘declaration of war’ and said it was ‘about time the world faces this empire of evil in Tehran’, while the United Nations has warned that the Middle East is now ‘on the brink’.”

https://www.dailymail.co.uk/news/article-13308351/Biden-privately-fears-catastrophic-escalation-Israel-Iran.html


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“Israel bombs town in eastern Lebanon…

“Israeli aircraft on Sunday targeted a building in the town of Nabi Shith in the Bekaa Valley in eastern Lebanon after a violent night of Israeli attacks in the region, Anadolu Agency reports. The Lebanese National News Agency reported that “an enemy airstrike targeted a building in the town of Nabi Shith in the Bekaa Valley.””

https://www.middleeastmonitor.com/20240414-israel-bombs-town-in-eastern-lebanon


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“The Israeli army has announced it will be recruiting two additional brigades to serve in Gaza…

“The announcement was made a week after the IDF pulled its troops from the southern city of Khan Yunis amid expectations that they could be later used for a ground manoeuvre in the southern city of Rafah, something that Israel’s allies have strongly opposed.”

https://www.telegraph.co.uk/world-news/2024/04/14/israel-calls-up-two-reserve-brigades-send-gaza/


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“Burundi-Rwanda rivalry: RED-Tabara rebel attacks add to regional tensions…

“The presence of former coup leaders in Rwanda and their involvement in destabilising actions against the Burundi government, as well as the seemingly renewed support for RED-Tabara fighters from the Rwandan government, are driving the renewed political tensions between Kigali and Gitega.”

https://theconversation.com/burundi-rwanda-rivalry-red-tabara-rebel-attacks-add-to-regional-tensions-225801


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“Somalia refuses to accept Ethiopian naval base in breakaway region.

“Somalia will never accept Ethiopia’s plan to build a naval base in its breakaway region of Somaliland… Landlocked Ethiopia sparked a diplomatic row with Mogadishu in January by signing a deal with Somaliland to lease 20 km (12 miles) of its coastline in return for recognising the region as an independent state.”

https://www.reuters.com/world/africa/somalia-says-it-will-never-accept-ethiopian-naval-base-somaliland-2024-04-12/


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“World paid little attention to Sudan’s war for a year. Now aid groups warn of mass death from hunger…

“The conflict has been overshadowed by the war between Israel and Hamas in Gaza Strip, which since October has caused a massive humanitarian crisis for Palestinians and a threat of famine in the territory. But relief workers warn Sudan is hurtling towards an even larger-scale calamity of starvation, with potential mass death in coming months.”

https://abcnews.go.com/International/wireStory/world-paid-attention-sudans-war-year-now-aid-109213839


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“Sudan’s uprooted millions pay price for year-long war…

“A year of war between Sudan’s army and the paramilitary Rapid Support Forces (RSF) has driven more than 8.5 million people from their homes, creating the world’s largest displacement crisis and uprooting families multiple times.”

https://www.reuters.com/world/africa/sudans-uprooted-millions-pay-price-year-long-war-2024-04-14/


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“Russian troops arrive in Niger as military agreement begins.

“Dozens of Russian military instructors have arrived in Niger as part of a new agreement with the country’s junta, which has cut links with the West. State media reported that they arrived along with a state-of-the-art air defence system.”

https://www.bbc.co.uk/news/world-africa-68796359


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“Historian warns we are ‘a few geopolitical inches from a Third World War’… it is clear that the world now stands at a precipice…

“Niall Ferguson’s point is that the Second World War can be seen as an accumulation of conflicts in different regions that happened to occur simultaneously — and that we are now on the verge of the same pattern.”

https://www.thelondoneconomic.com/news/historian-warns-we-are-a-few-geopolitical-inches-from-a-third-world-war-372475/


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“As private credit warnings grow, the fear is that the horse has bolted.

“The IMF is warning regulators about the systemic risks of the rapidly growing private credit market, a largely opaque sector involving direct lending to corporations. But as in the past, this could be a case of locking the stable doors after the horse has bolted.”

https://www.scmp.com/opinion/world-opinion/article/3258676/private-credit-warnings-grow-fear-horse-has-bolted


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

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