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 World Health Organization has raised concerns about the spread of H5N1 bird flu, which has an “extraordinarily high” mortality rate in humans.

“Cows and goats joined the list of species affected last month – a surprising development for experts because they were not thought susceptible to this type of influenza… “The A(H5N1) variant has become “a global zoonotic animal pandemic”, the UN health agency’s chief scientist, Jeremy Farrar told reporters.”

https://www.theguardian.com/world/2024/apr/18/risk-bird-flu-spreading-humans-enormous-concern-who


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“Experts raise concerns about how our environment will give rise to an ominous new era of unrest: ‘That’s the politics of the armed lifeboat’…

““When climate reality starts to get tough,” said Hoggett, “you secure your borders, you secure your own sources of food and energy, and you keep out the rest of them. That’s the politics of the armed lifeboat.””

https://www.msn.com/en-us/lifestyle/lifestyle-buzz/experts-raise-concerns-about-how-our-environment-will-give-rise-to-an-ominous-new-era-of-unrest-that-s-the-politics-of-the-armed-lifeboat/ar-BB1jf1kB


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“‘You’re not such a crazy conspiracy theorist any more’: Preppers go mainstream.

“In a world hyper-alert to impending catastrophe, from global warming to war to pandemics that could put COVID-19 in the shade, the doomsday survivalist business is booming.”

https://www.smh.com.au/national/you-re-not-such-a-crazy-conspiracy-theorist-any-more-preppers-go-mainstream-20240304-p5f9lb.html


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“With Mideast on brink, investors ignore geopolitical risks at their peril.

“If investors are indeed concerned about geopolitics, their fears are not reflected in the market as equity investments remain at all-time highs. An escalation between Iran and Israel would disadvantage emerging market currencies, fan inflation and widen the gap between asset prices and the real economy.”

https://www.scmp.com/opinion/world-opinion/article/3259437/mideast-brink-investors-ignore-geopolitical-risks-their-peril


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“Geopolitical conflict threatens yet another shipping choke point

“Global shipping routes are already heavily impacted from the Red Sea to the Gulf of Aden because of ongoing geopolitical strife. If the Strait of Hormuz is in any way disrupted, the impact on oil and global trade could be huge.”

https://think.ing.com/articles/shipping-gulf-oil-strait-hormuz-iran-trade/


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“The economic buffers have been exhausted – one more shock would trigger financial Armageddon.

“The world is a more dangerous place today than at any stage since the Cold War, yet markets are a picture of insouciant unconcern, bordering on outright complacency, with valuations stretched to breaking point.”

https://www.telegraph.co.uk/business/2024/04/17/imf-global-economy-high-debt-growth-democracy/


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“FSB calls on hedge funds and commodities traders to hold more liquid assets…

“The Financial Stability Board, which includes the world’s leading finance ministers, central bankers and regulators, said on Wednesday that after assessing a series of recent market panics, many funds and traders had made “inadequate” preparation for sudden price moves.”

https://www.ft.com/content/d4517163-85ad-4af4-bd4d-2e26a44b49db


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“Leveraged Loans Are Next to Face Higher-for-Longer Rates Stress.

“The US leveraged loan market, as yet unruffled by the shift to a higher-for-longer view on interest rates, may soon join in the pain being felt in other asset classes… The current higher rate environment is putting pressure on corporate balance sheets, and debt interest coverage has been deteriorating.”

https://www.bloomberg.com/news/articles/2024-04-18/leveraged-loans-are-next-to-face-higher-for-longer-rates-stress


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“Commercial real estate foreclosures jumped 117% in March as trouble looms…

“The commercial real estate market is starting to buckle under the weight of higher interest rates and remote work… California had the highest number of commercial foreclosures in March, with 187 properties.”

https://www.foxbusiness.com/economy/commercial-real-estate-foreclosures-jumped-march-trouble-looms


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“Nord Stream’s insurers have denied that their policies provide cover for gas pipelines damaged by blasts in 2022 because the damage was caused by war, in their written defence to a lawsuit filed at London’s High Court.

“Nord Stream is seeking more than 400 million euros ($427 million) from its insurers over the explosions which ruptured pipelines designed to transport Russian gas to Germany.”

https://www.reuters.com/world/europe/nord-stream-insurers-say-policies-did-not-cover-war-risks-kommersant-reports-2024-04-18/


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“German defense contractor Rheinmetall is set to expand its footprint in the Baltic region with the construction of an artillery shell factory in Lithuania.

“The Lithuanian government and Rheinmetall have signed a memorandum of intent to build a 155mm ammunition plant in Lithuania, the country’s Ministry of Economy and Innovation said in a statement on April 16.”

https://www.defensenews.com/global/europe/2024/04/17/rheinmetall-to-ramp-up-baltic-presence-with-lithuania-munitions-plant/


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“‘Russia doesn’t care’: Sweden sounds alarm over unsafe oil fleet…

“Speaking to the Guardian during his first visit to London since Sweden became a Nato member, Tobias Billström called for new rules and enforcement mechanisms to prevent the ageing and uninsured Russian shadow fleet causing an environmental catastrophe.”

https://www.theguardian.com/world/2024/apr/18/swedish-foreign-minister-tobias-billstrom-unsafe-russian-oil-fleet-baltic-sea-environmental-catastrophe


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“EU watchdog warns bloc still needs Russian LNG…

“The EU’s energy regulator has warned the bloc still needs to import Russian liquefied natural gas to avoid an energy shock, even as a group of member states seeks to ban purchases of the fuel from Moscow.”

https://www.ft.com/content/1ba32ff0-14c9-4b2f-a9f8-0083b7798d4f


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“Olaf Scholz was on execution list in German coup, reports claim…

“Peter Wörner, a former commando and one of the alleged coup plotters, is accused of creating a list of high-profile German figures who should be arrested and put to death, Bild, the German daily newspaper, reported. Among the names on the list were Mr Scholz and Friedrich Merz, the opposition leader…”

https://www.telegraph.co.uk/world-news/2024/04/17/olaf-scholz-was-on-death-list-in-german-coup-reports-claim/


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“UN resolution recognizing Srebrenica killings as genocide inflames tensions.

“Decades-old tensions over the 1995 massacre of 8,000 Muslims during the Bosnian war have been inflamed by a proposed U.N. resolution that would recognize the event as an act of genocide. Thousands of Serbs marched in protest against the resolution Thursday in Banja Luka, capital of Republika Srpska…”

https://www.voanews.com/a/un-resolution-recognizing-srebrenica-killings-as-genocide-inflames-tensions/7576361.html


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“Argentina asks to join Nato as President Milei seeks a more prominent role for his nation.

“Nato partner bid comes as Argentina eyes stronger ties with the United States and European allies. Argentina is purchasing 24 US-made F-16 fighter jets from Denmark, a deal backed by Washington.”

https://www.scmp.com/news/world/americas/article/3259581/argentina-asks-join-nato-president-milei-seeks-more-prominent-role-his-nation


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“Farmers in the Falkland Islands told Penguin News this week that with wool prices at a serious low and cost of living up they are struggling to pay mortgages and bills…

“A West Farmer who asked not to be named told Penguin News the last three years had got progressively worse…. He said cost of living “is so much higher now, stores, fuel, freight, etc. Wool freight is the biggest killer being roughly a pound a kilo.””

https://penguin-news.com/headlines/2024/50-wool-price-decrease-weighs-heavy-on-falkland-islands-farmers/


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“Venezuela oil sector braces for loss of US license, Maduro hits back.

“The day after the United States announced it would reimpose costly limits on Venezuela’s oil sector, the South American nation braced for the consequences and its president warned that the “grave error” would also hit U.S. interests.”

https://www.reuters.com/markets/commodities/venezuela-oil-sector-hit-by-loss-its-widest-us-license-2024-04-18/


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“The boss of Mexico’s Pemex hit back at rating agencies and investors who increasingly see the state oil company as a threat to public finances as it faces hefty supplier bills and interest payments on its near $106bn debt mountain.

“Pemex, once a major cash cow for Mexico’s government, now has the highest level of debt of any oil company due to years of under-investment, corruption and lack of reforms.”

https://www.ft.com/content/708cf2d4-2dab-4750-8a0e-9ee0714a2718


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“As if the yen doesn’t have enough reasons to weaken, risks are emerging that higher oil prices will hit energy import-dependent Japan and its currency…

“While the yen climbed initially on Friday amid flight to safety, it subsequently pared the gains. The currency has been dragged down by the wide yield gap between Japan and other major economies such as the US.”

https://www.bloomberg.com/news/articles/2024-04-19/oil-poses-more-risks-for-yen-as-japan-depends-on-energy-imports


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“[Korean won hits 1400 mark again] Korean won is now Asia’s weakest currency…

“The South Korean won sharply declined against the U.S. dollar on April 16, with the won-dollar exchange rate surpassing the 1400 won mark for the first time in 17 months. This level has been breached only three times before.”

https://www.chosun.com/english/market-money-en/2024/04/19/C2N3WGXDPRB2FEY3PIKIRBKPOQ/


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“A war is brewing in the Pacific… Will Aukus make the same mistakes as Nato?

“…The Western narrative is that the military build-up in the Asia-Pacific is merely a response to China’s increasingly assertive posture in the region — and is therefore about deterrence, not escalation, and shouldn’t be perceived by China as a threat. But should we expect China to take our word for it?”

https://unherd.com/2024/04/a-war-is-brewing-in-the-pacific/


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“Chinese ‘shock’ troops storm beach near Taiwan in training exercise…

“A video showed soldiers in small boats storming a beach, throwing smoke grenades, breaking through barbed wire defences and digging trenches in the sand, Reuters reported.”

https://www.telegraph.co.uk/world-news/2021/10/12/chinese-forces-run-beach-storming-drills-across-water-taiwan/


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“Tensions mount between China and the Philippines…

“The recent spate of incidents has had more publicity partly because the government of the Philippines now highlights China’s actions as part of a “transparency initiative”. This policy shift has been driven by President Ferdinand “Bongbong” Marcos…”

https://www.economist.com/asia/2024/04/18/tensions-mount-between-china-and-the-philippines


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“Israel has carried out a military strike inside Iran, a US official told CNN Friday, the latest move in a dangerous escalation that threatens to push the already volatile region into a wider conflict…

“Tensions across the Middle East remain on a knife edge, following Iran’s unprecedented direct strike against Israel late Saturday.”

https://edition.cnn.com/2024/04/18/middleeast/isfahan-iran-explosion-intl-hnk/index.html


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“Situation in northern Israel is ‘untenable’ and it won’t take much for broader war to break out.

“The IDF and Hezbollah have been exchanging fire on a daily basis in the north for more than six months – and it feels like a full-scale war may not be far away.”

https://news.sky.com/story/situation-in-northern-israel-is-untenable-and-it-wont-take-much-for-broader-war-to-break-out-13117968


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“Israel still plans to launch Rafah assault, Netanyahu tells western diplomats…

“Western officials said the emphasis on an attack on Rafah – Hamas’s last military redoubt in Gaza – reflected the renewed confidence with which Netanyahu was viewing the politics of the Middle East…”

https://www.theguardian.com/world/2024/apr/18/israel-still-plans-to-launch-rafah-assault-netanyahu-tells-western-diplomats


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“‘People are begging us to feed their children’: Gaza refugees in Cairo find little help…

“Unlike in neighbouring countries, no UN body has taken responsibility for Palestinians who have fled to Egypt, while Egyptian authorities stand accused of profiting from high border-crossing fees.”

https://www.theguardian.com/global-development/2024/apr/18/people-are-begging-us-to-feed-their-children-gaza-refugees-in-cairo-find-little-help


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“Saied: ‘Tunisia will never be a land where migrants settle’…

“Tunisian President Kais Saied told a meeting of his National Security Council that “anyone wishing to establish friendly relations with Tunisia is welcome, but those attempting to impose a certain safeguard have the wrong address… “We deal with friends and brothers in the full respect of our sovereignty,” he said in the video…”

https://www.infomigrants.net/en/post/56533/saied-tunisia-will-never-be-a-land-where-migrants-settle


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“Global south now repays more in debt than it gets in grants and loans.

“…last year, the global south paid out tens of billions more in debt repayments than they received in new lending and official development assistance, according to new research from anti-poverty organization ONE Campaign. And this year looks likely to be the same.”

https://www.devex.com/news/global-south-now-repays-more-in-debt-than-it-gets-in-grants-and-loans-107490


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“Central banks globally struggle to keep up with US Fed’s rate cut timeline…

“Finance chiefs from economies large and small are scrambling to keep pace with the Federal Reserve’s rapid resetting of rate-cut expectations as US inflation data roils markets from London to Brazil… It’s an unexpected turn that has supercharged the US dollar, stressing other currencies in return.”

https://www.business-standard.com/world-news/central-banks-globally-struggle-to-keep-up-with-us-fed-s-rate-cut-timeline-124041900349_1.html


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“Higher interest rates pose risk to renewable sector, hurting energy transition, say analysts…

“”Owing to the capital-intensive (Capex) nature of renewable energy…they are inherently more susceptible to high-interest rates,” said Vegard Wiik Vollset, head of renewables and power (EMEA) at Rystad Energy…”

https://www.reuters.com/sustainability/climate-energy/higher-interest-rates-pose-risk-renewable-sector-hurting-energy-transition-say-2024-04-18/


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“Clean energy’s dirty secret: the trail of waste left by India’s solar power boom.

“As vast solar plants multiply, so does the scrap… this solar boom has a downside: the waste it generates from the panels, made of glass, aluminium, silicon, rare-earth elements; as well as power inverters and wiring.”

https://www.theguardian.com/global-development/2024/apr/18/india-clean-energy-solar-power-plant-panel-waste-recycling-pollution-regulation


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“Coffee prices hit new highs over fears of global shortages…

“Fears of global shortages of coffee due to weather challenges in Vietnam and Brazil have sent prices soaring to record highs in recent weeks. Both robusta and arabica commodity prices have been rising since the start of the year.”

https://www.thegrocer.co.uk/fmcg-prices-and-promotions/coffee-prices-hit-new-highs-over-fears-of-global-shortages/690428.article


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

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