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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“Debt-saturated markets may soon face a ‘Minsky’ moment… Middle East tensions could be the final straw for economies already on a knife edge…

“There is little or no room for further shocks or policy errors. Well now we have two of them in short order – a sudden ramping up in geopolitical tensions, and a pronounced shift in the expected trajectory of inflation and therefore interest rates.”

https://www.telegraph.co.uk/business/2024/04/16/debt-saturated-markets-may-soon-face-a-minsky-moment/


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“The overlooked threats to the global financial system…

“The share of global financial assets held by these non-bank financial institutions has risen from 25 per cent after the 2007-08 crisis to 47.2 per cent in 2022, higher than the 39.7 per cent of conventional banks. No one can be sure what cyber or cryptoasset threats might lurk in this financial adventure playground where complex financial products proliferate.”

https://www.ft.com/content/0b78c68b-c65c-4080-b779-17041c290eaa


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“Soaring debt levels put policymakers in a tight spot… High interest rates leave less financial flexibility to deal with unexpected events…

“The rise in government debt globally matters because it could have a major impact on economies as three knock-on effects collide: lower future spending, rising vulnerability to market shocks and trickier policy decisions for central bankers and governments…”

https://www.ft.com/content/70823840-2549-456c-8e29-4bdadc940444


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“The shadow of war darkens on the global economy…

“There are also all too evident risks to global financial, fiscal, political and geopolitical stability. World trade might be battered by protectionism. War between Israel, the US and Iran could blow up the Middle East, with huge consequences for energy and commodity prices.”

https://www.ft.com/content/31158ec7-433b-4c0e-9f2e-8a13e8dd4750


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“Gold is sniffing out monetary and geopolitical dystopia… ‘Never seen before’ levels of buying could be the makings of a war chest…

“It is not a Western institution behind this. It is a massive player with very deep pockets. I have never seen this kind of buying before,” said Ross Norman, a veteran gold trader and now chief executive of Metals Daily.” …Gold is the hedge against dystopia.”

https://www.telegraph.co.uk/business/2024/04/16/gold-price-surge-china-warchest-geopolitical-dystopia/


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“Oil Traders Wager on $250 Price by June as War Risk Escalates…

“Volumes of bullish oil options have skyrocketed to a record, driving the premium for calls over puts jumped this week to the highest since October, as Israel vows to retaliate following Iran’s missile and drone attacks over the weekend.”

https://www.bloomberg.com/news/articles/2024-04-16/oil-traders-wager-on-250-price-by-june-as-war-risk-escalates


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“Are we heading for World War Three? Experts give their verdicts.

“International allies are counselling restraint after the Iranian barrage against Israel, and Russia continues to make gains in Ukraine. So are we on the cusp of another World War? …it is arguably more likely now than at any time since the end of the last world war.”

https://news.sky.com/story/are-we-heading-for-world-war-three-experts-give-their-verdicts-13116540


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“IMF sounds alarm on U.S. debt, warning ‘something will have to give’…

“The International Monetary Fund warned the United States on Tuesday that the government’s rampant spending and growing national debt is not sustainable and could threaten the global economy. “Something will have to give,” the Washington-based nonpartisan financial agency of the United Nations warned…”

https://www.upi.com/Top_News/US/2024/04/16/international-monetary-fund-national-debt-warning/4711713315482/


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“America’s ‘God of War’ is now many decades old. The US Army can’t replace it…

“… it’s extremely problematic that the world’s leading army, the US Army, can’t manage to develop a new howitzer. Trying and failing three times in a generation to acquire new heavy artillery, the Army is stuck with upgraded versions of the same howitzers it’s been using for 61 years.”

https://www.telegraph.co.uk/news/2024/04/16/us-army-weapon-artillery-howitzer-failure-shells-ukraine/


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“Undersea ‘hybrid warfare’ threatens security of 1 billion people, NATO commander warns…

“V Adm Didier Maleterre, the deputy commander of Nato’s Allied Maritime Command (Marcom), said the network of underwater cables and pipes on which Europe’s power and communications depend were not built to withstand the “hybrid warfare” being pursued by Moscow and other Nato adversaries.”

https://www.theguardian.com/world/2024/apr/16/undersea-hybrid-warfare-threatens-security-of-1bn-nato-commander-warns


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“Suicide drones threaten to bankrupt Western militaries…

“Combat drones have been with us now for several years, but the remarkable increase in Iranian production and export over the last two years is altering the impact of asymmetric warfare by giving far greater potency than previously imagined to a much wider range of state and non-state actors.”

https://www.telegraph.co.uk/news/2024/04/16/suicide-drones-threaten-to-bankrupt-western-militaries/


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“The enemies of the West are preparing to use a tactical nuke [opinion piece, reflecting febrile zeitgeist]…

“Unlike in the Cold War, back channels have gone and treaties have lapsed. A nuclear weapon is likely to be fired within ten years… the West has no coherent strategy to deal with the fact that our enemies are rearming with a lethality that people simply don’t comprehend.”

https://www.telegraph.co.uk/news/2024/04/15/enemies-of-the-west-are-preparing-to-use-a-tactical-nuke/


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“US Says Russia’s Arms Trade With North Korea Violates Sanctions…

“Cold War partners Russia and North Korea have forged a new partnership since the Kremlin’s full-scale invasion of Ukraine, built upon Pyongyang holding some of the world’s largest stocks of munitions that are interoperable with weapons Moscow has deployed to the battlefield.”

https://www.bloomberg.com/news/articles/2024-04-17/us-says-russia-s-arms-trade-with-north-korea-violates-sanctions


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“Ukraine: World ‘dangerously close’ to nuclear accident after Zaporizhzhia power plant attacked three times…

“Three attacks on the Zaporizhzhia nuclear power plant have been confirmed since 7 April, according to IAEA director general Rafael Mariano Grossi. They marked the first strikes on the facility since November 2022. Speaking to the United Nations Security Council, Mr Grossi said: “These reckless attacks must cease immediately.”

https://news.sky.com/story/ukraine-world-dangerously-close-to-nuclear-accident-after-zaporizhzhia-power-plant-attacked-three-times-13116375


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“Iran shuts nuclear facilities and cancels inspections amid fears of Israeli attack…

“Kelsey Davenport, the director for Nonproliferation Policy at the Arms Control Association, said, “Iran is sitting on the threshold of nuclear weapons; it can build a bomb more quickly than at any point in its history.” Ms Davenport warned that Israeli strikes on Iranian nuclear facilities would be “counter-productive”.”

https://www.telegraph.co.uk/world-news/2024/04/16/iran-shuts-nuclear-facilities-inspections-israeli-attack/


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“The United States and the European Union say they are looking at imposing further sanctions on Iran, after its attack on Israel at the weekend.

“US Treasury Secretary Janet Yellen said she expected to take action “in the coming days”, while EU foreign policy chief Josep Borrell said the bloc was working on it. Israel has urged its allies to sanction Tehran’s missile programme.”

https://www.bbc.co.uk/news/world-middle-east-68832045


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“US believes Israel ‘planning limited strike inside Iran’…

“US officials believe Israel is considering a “limited and narrow” strike inside Iran in retaliation for the drone and missile attack over the weekend. Meanwhile, Lord Cameron is in Israel, where he will attempt to “limit” Benjamin Netanyahu’s next move.”

https://news.sky.com/story/middle-east-latest-un-nuclear-watchdog-concerned-israel-could-target-iranian-nuclear-facilities-in-revenge-attack-12978800


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“‘Anything could happen’: Gaza Strip left hanging while Israel plots response to Iran’s attack…

“Israel has said for weeks it is going to launch a ground operation into the last corner of the territory that has not seen fierce ground fighting, despite intense opposition from its closest allies.”

https://www.theguardian.com/world/2024/apr/16/anything-could-happen-gaza-strip-left-hanging-while-israel-plots-response-to-irans-attack


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“Thousands protest in Georgia over contentious ‘foreign agents’ bill.

“The measure has strained relations with European countries and the United States, which oppose its passage… Critics label the bill “the Russian law”, comparing it with legislation used by the Kremlin to crack down on dissent.”

https://www.aljazeera.com/gallery/2024/4/16/thousands-protest-in-georgia-over-contentious-foreign-agents-bill


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“France recalls its ambassador to Azerbaijan, accuses Baku of ‘damaging’ ties…

“Relations between Azerbaijan and France — a traditional ally of Armenia and host itself to a significant Armenian diaspora community — have long been plagued by tensions focused on the Azerbaijani region of Nagorno-Karabakh.”

https://www.france24.com/en/europe/20240416-france-recalls-ambassador-azerbaijan-accuses-baku-of-damaging-ties


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“Debt Mountains of Italy and France Are Rising Again, IMF Says…

“The forecast underscores a more marked change in trajectory from downward to upward, and encompasses a shift in view from October, when officials saw both countries’ ratios staying roughly stable, at least initially.”

https://www.bloomberg.com/news/articles/2024-04-16/debt-mountains-of-italy-and-france-are-rising-again-imf-says


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“[UK] Water companies pay £2.5bn in dividends in two years as debt climbs by £8.2bn…

“The £78bn payout [since privatisation] is nearly half the £190bn the companies spent in the same three decades on infrastructure. The utilities meanwhile chalked up more than £64bn net in debt over the same period, despite being sold at privatisation with no borrowings.”

https://www.ft.com/content/c3cdfefb-c912-4699-bb7f-72c5c651575


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“New nuclear power plant expected to kill 46 tonnes of fish a year [UK]…

“The massive water intakes used to suck water from the Bristol Channel to cool Hinkley Point C’s reactors are expected to kill up to 46 tonnes of fish a year when the plant opens in 2031.”

https://www.telegraph.co.uk/business/2024/04/16/hinkley-point-developer-flood-nature-reserve-fish-deaths


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“National grid collapses again, throws Nigerians into blackout…

“Nigeria has witnessed its sixth power grid collapse of 2024… the grid continues to record incessant collapse due to gas supply constraints, transmission infrastructure vandalism, and liquidity crisis, among others.”

https://punchng.com/national-grid-collapses-again-throws-nigerians-into-blackout


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“‘Humanitarian aid in Sudan is constantly being blocked by all the belligerents’

“With the international community having pledged more than €2 billion in funding for Sudan at a humanitarian conference in Paris on Monday, Norwegian Refugee Council Sudan Advocacy Manager Mathilde Vu breaks down the worsening humanitarian crisis in a country devastated by a year of brutal fighting.”

https://www.france24.com/en/africa/20240416-humanitarian-aid-sudan-constantly-blocked-by-belligerents-humanitarian-conference


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“Covid pandemic made poorest countries even worse off, World Bank warns.

“The devastating impact of the pandemic on the world’s poorest countries has brought poverty reduction to a halt and led to a widening income gap with nations in the rich west, the World Bank has warned.”

https://www.theguardian.com/business/2024/apr/15/covid-pandemic-made-poorest-countries-even-worse-off-world-bank-warns


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“Mutated strain of mpox with ‘pandemic potential’ found in DRC mining town…

“A concerning new strain of mpox with “pandemic potential” has been found in a mining town in the Democratic Republic of Congo, according to new research. The paper – a pre-print which has not yet been peer-reviewed, but is being pored over by global experts – calls for “swift action” from the international community…”

https://www.telegraph.co.uk/global-health/science-and-disease/mpox-outbreak-kamituga-democratic-republic-of-congo-africa/


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“A deadly disease is infecting beavers throughout Utah, which experts warn could become life-threatening to humans.

“The disease, called tularemia, is also known as rabbit fever, hare plague and deer fly fever that can cause ulcers on the skin and swollen glands, among other symptoms if passed to a human… what’s surprising to local wildlife officials is the growing number of animals dying from it.”

https://www.dailymail.co.uk/sciencetech/article-13315909/Disease-killing-beavers-Utah-spread-humans.html


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“Is the global EV bubble bursting?

“…Elon Musk’s announcement that Tesla will lay off ten percent of its workforce shocked many but it may be inline with figures that suggest the global demand for electronic vehicles is slumping across the world.”

https://www.dailymail.co.uk/news/article-13314449/Is-global-EV-bubble-bursting-tesla.html


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“Experts predict a 50-50 chance machines could take over all our jobs within a century.

“But a poll of 16,000 workers has found many employees believe AI could do it already. Nearly half have admitted the technology can outperform them in ‘routine tasks’ – while also paying better attention to detail.”

https://www.dailymail.co.uk/sciencetech/article-13315791/Experts-predict-AI-one-day-clever-job-workers-claim-are.html


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

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