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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“Unstable nuclear-waste dams threaten fertile Central Asia heartland… Dams holding vast amounts of uranium mine tailings above the fertile Fergana valley in Central Asia are unstable, threatening a possible Chernobyl-scale nuclear disaster if they collapse that would make the region uninhabitable, studies have revealed…

“A further landslide or earthquake could send their contents into a river system used to irrigate Kyrgyz, Uzbek and Tajik farmlands…”

https://www.reuters.com/world/asia-pacific/unstable-nuclear-waste-dams-threaten-fertile-central-asia-heartland-2024-04-23/


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“‘Extraordinary’ U.S. government debt may mean prolonged bond-market volatility.

“…uncertainty over the fiscal outlook is raising the possibility that the market will continue to remain unsettled. The focus is shifting to the U.S. government-debt burden as tensions fade in the Middle East…”

https://www.marketwatch.com/story/extraordinary-u-s-government-debt-may-mean-prolonged-bond-market-volatility-18c491a4


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“Dollar touches new 34-year peak vs yen on US rate outlook.

“The U.S. dollar climbed to a fresh 34-year peak against the yen in quiet trading on Monday, with investors taking their cue from the Federal Reserve’s higher-for-longer interest rate stance, even as they remained alert to any signs of intervention by Japan to prop up its struggling currency.”

https://www.asahi.com/ajw/articles/15242124


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“Why a stronger dollar is dangerous.

“…the greenback has shot up. It has risen by 4% this year, measured against a trade-weighted basket of currencies, and the fundamentals point to further appreciation… This situation is made still more difficult by the fact that the currency’s strength reflects weakness elsewhere.”

https://www.economist.com/finance-and-economics/2024/04/23/why-a-stronger-dollar-is-dangerous


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“Shadow Banking Stress in South Korea Sends Warning to Global Investors.

“South Korea is emerging as a closely watched weak link in the $63 trillion world of shadow banking. Real estate exposure has been showing cracks at home and abroad after interest rates rose…”

https://www.bloomberg.com/news/articles/2024-04-22/south-korea-property-rout-sparks-fear-of-private-credit-crisis


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“Millions of jobs will be at risk if a surge in lending by so-called shadow banks ends in disaster, a top Bank of England official has warned.

“Nathanaël Benjamin, executive director for financial stability, strategy and risk at Threadneedle Street, advised that runaway growth in lending by private equity companies is complex, opaque and potentially risky.”

https://www.telegraph.co.uk/business/2024/04/22/shadow-banking-collapse-millions-jobs-risk-bank-england/


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“Rishi Sunak said he would put Britain’s defence industry “on a war footing” as he unveiled the biggest boost to military spending in a generation.

“…the Prime Minister unveiled £75 billion in new funding… He said the plan, which will make Britain “by far the largest defence power in Europe”, would serve to “show our enemies that we are resolute and determined”.

https://www.telegraph.co.uk/politics/2024/04/23/war-footing-as-sunak-ramps-up-defence-spending/


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“UK budget deficit overshoots, turning fiscal screw on Sunak government.

“Britain’s government borrowed more than expected in the 2023/24 financial year, data showed on Tuesday, in bad news for Prime Minister Rishi Sunak who hopes to woo back voters with tax cuts ahead of a national election.”

https://www.reuters.com/world/uk/uk-public-borrowing-119-billion-pounds-march-2024-04-23/


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“Could France’s soaring deficit and debt lead to a rating downgrade?

“France is under intense fiscal scrutiny as it approaches weeks filled with critical events, including imminent ratings reviews from credit rating agencies. Economists warn that significant fiscal tightening may be required to prevent a downgrade.”

https://www.euronews.com/business/2024/04/22/could-frances-soaring-deficit-and-debt-lead-to-a-rating-downgrade


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“Italy still vulnerable on deficit, debt and growth says EC…

“”Italy continues to be faced with the vulnerabilities linked to an elevated public debt, combined with consistent budget deficits and weak growth of productivity in a context of labour market fragility and some residual weaknesses in the financial sector,” it said.”

https://www.ansa.it/english/news/business/2024/04/23/italy-still-vulnerable-on-deficit-debt-and-growth-says-ec_b79eb6bf-a139-4831-a7a5-048592716c45.html


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“Plant apocalypse: how new diseases are destroying EU trees and crops.

“From ancient olive groves to root vegetables, foreign pests introduced via the bloc’s open import system are causing damage worth billions – and outbreaks are on the rise… As the climate heats, scientists warn the problem will get worse.”

https://www.theguardian.com/environment/2024/apr/24/plant-apocalypse-how-deadly-imported-diseases-are-destroying-eu-trees-and-crops-aoe


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“EU green deal at ‘very high’ risk of being killed off, says Greens co-leader…

“The Belgian MEP Philippe Lamberts said the green deal, which has informed everything from tax policy to environment law making, would be a thing of the past if the far right made significant gains in the June EU parliamentary elections.”

https://www.theguardian.com/world/2024/apr/23/eu-green-deal-at-risk-greens-co-leader-philippe-lamberts


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“Russia warns Europe: if you take our assets, we have a response that will hurt.

“An ally of President Vladimir Putin warned Europe on Tuesday that Russia has already drafted legislation to retaliate if nearly $300 billion of Russian assets were seized by the West and used to help Ukraine… “And the Europeans will lose more than we do,” Matviyenko, who is a member of Russia’s powerful Security Council, said.”

https://www.reuters.com/world/europe/russia-warns-europe-if-you-take-our-assets-we-have-response-that-will-hurt-2024-04-23/


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“Ukraine’s agriculture minister has been made a suspect in a corruption probe…

“The case is the first against a minister under President Volodymyr Zelenskyy. The post of agriculture minister is particularly sensitive given Kyiv’s efforts to maintain its massive grain exports – a vital economic pillar – in the face of Russia’s invasion.”

https://www.aljazeera.com/news/2024/4/23/ukraines-agriculture-minister-named-as-suspect-in-7m-corruption-case


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“Russian law enforcement officers have detained Deputy Defense Minister Timur Ivanov on suspicion of taking bribes, Russia’s Investigative Committee said on Tuesday.

“President Vladimir Putin was informed of the detention of the high-ranking official, a rare move amid the offensive in Ukraine, Russian state media reported.”

https://www.themoscowtimes.com/2024/04/23/russia-detains-deputy-defence-minister-over-corruption-suspicions-a84938


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“For all the diplomatic reassurance, US-China trade tensions are growing.

“A flurry of US trade actions targeting China point to a looming intensification of the US-China trade war and raise questions over whether the relationship is moving towards more stable ground, as officials have recently asserted.”

https://www.scmp.com/opinion/china-opinion/article/3259909/all-diplomatic-reassurance-us-china-trade-tensions-are-growing


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“Trump is taking to first step towards war with China. The presidential hopeful plans to stack his cabinet with hardcore China hawks…

“Today’s Trump has a personal animus toward China, placing heavy blame on Xi Jinping’s handling of the Covid-19 pandemic for his loss in the 2020 presidential election. The presidential hopeful’s sympathy for populist trade policies has only grown since he left office…”

https://www.telegraph.co.uk/us/comment/2024/04/23/donald-trump-cabinet-picks-china-war-us-army-navy/


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“Missiles, military aid, China tensions in focus as ‘biggest ever’ US-Philippines drills begin.

“This year’s Balikatan drills kicked off as Manila received BrahMos cruise missiles from India – and had hopes for US$2.5 billion in US military aid. Manila’s armed forces chief says Balikatan is all about ‘peace and security’. Critics call it ‘warmongering’ by the US in it ‘proxy war with China’.”

https://www.scmp.com/week-asia/politics/article/3259951/balikatan-2024-missiles-military-aid-china-tensions-focus-biggest-ever-us-philippines-drills-begin


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“Argentina’s Milei faces biggest protest yet as students march over budget cuts.

“Hundreds of thousands of Argentines took to the streets of Buenos Aires on Tuesday in an anti-government march against budget cuts to public universities, the biggest protest yet against President Javier Milei’s painful austerity measures.”

https://www.reuters.com/world/americas/argentinas-milei-faces-biggest-protest-yet-students-march-over-budget-cuts-2024-04-23/


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“Haiti fuel terminal operations halted as gangs seize trucks, source says.

“Operations at Haiti’s main fuel import terminal were suspended on Monday as armed men seized trucks and demanded the port be shut down, according to a source with information on the matter, likely exacerbating existing fuel shortages.”

https://www.saltwire.com/halifax/news/haiti-fuel-terminal-operations-halted-as-gangs-seize-trucks-source-100958791/


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“Sahel seeing ‘Cold War’ in parallel to counter-terrorism efforts, expert says.

“Africa’s Sahel region now accounts for almost half of all deaths from terrorism worldwide. That was the stark warning heard at a high-level summit in Nigeria that aims to counter terrorism across Africa.”

https://www.france24.com/en/tv-shows/perspective/20240423-sahel-seeing-cold-war-in-parallel-to-counter-terrorism-efforts-expert-says


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“Sudan: Last battle for Darfur rages in El Fasher.

“Senior UN officials are warning of a looming catastrophe and the risks of a new front opening around El Fasher in Sudan’s Darfur region, as reports of a possible imminent Rapid Support Forces attack on the town and the use of artillery bombardment and airstrikes by the Sudan Armed Forces signal the last battle for Darfur.”

https://www.theafricareport.com/345311/sudan-last-battle-for-darfur-rages-in-el-fasher/


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“More than 50,000 displaced by clashes in northern Ethiopia: UN.

“Amid escalating violence, over 50,000 are displaced in northern Ethiopia… “The humanitarian situation is dire, with thousands of women and children in need of humanitarian support to survive,” the UN said late Monday, citing local authorities in the disputed area, which is claimed by Tigray and neighbouring Amhara.”

https://www.theafricareport.com/345480/more-than-50000-displaced-by-clashes-in-northern-ethiopia-un/


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“At least 21 people have died after a boat capsized off the coast of Djibouti…

“It was the second fatal maritime accident in two weeks off the Horn of Africa nation, which lies on the perilous so-called eastern migration route from Africa to the Middle East. Another vessel carrying mainly Ethiopian migrants sank in the same area on 8 April, claiming the lives of several dozen people.”

https://www.theguardian.com/world/2024/apr/23/at-least-21-migrants-dead-after-boat-capsizes-off-coast-of-djibouti


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“Houthis poised to ramp up Red Sea attacks following recent lull…

“Whether naval operation have degraded Houthi capabilities or the Iran-backed militants were simply regrouping, the latest warnings suggest that a resurgence of attacks targeting vessels in the Red Sea is imminent.”

https://www.lloydslist.com/LL1148945/Houthis-poised-to-ramp-up-Red-Sea-attacks-following-recent-lull


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“Iranian air defence radar was struck in Israeli attack, satellite photos suggest.

“The pictures by Planet Labs PBC show burn marks around an area near Isfahan’s dual-use airport and airbase that analysts previously identified as a “flap-lid” radar system used for the S-300.”

https://news.sky.com/story/israeli-attack-hit-iranian-air-defence-radar-satellite-pictures-suggest-13121459


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“Iran’s Israel strike coincided with crackdown on dissent at home.

“The same day Iran launched its first ever direct attack on Israel it embarked on a less-noticed confrontation at home, ordering police in several cities to take to the streets to arrest women accused of flouting its strict Islamic dress code… The laws have become a political flashpoint…”

https://www.reuters.com/world/middle-east/irans-israel-strike-coincided-with-crackdown-dissent-home-activists-say-2024-04-23/


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“What’s Behind The Deadly Surge Of Violence In Pakistan’s Balochistan?

“Pakistan’s southwestern province of Balochistan has been the scene of a low-level insurgency and a brutal government crackdown for decades. But the vast and resource-rich province — home to the South Asian country’s ethnic Baluch minority — has witnessed a surge in deadly attacks in recent months.”

https://www.rferl.org/a/pakistan-balochistan-separatists-baluch/32917725.html


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“Hundreds of civil war victims treated every day as Myanmar chaos spills over Thailand border.

“Mae Tao clinic in Mae Sot, a frontier town along the border with Myanmar, is a harrowing window into a civil war that has suddenly escalated. In the searing heat of early morning, the wards are packed full of patients, some with catastrophic injuries.”

https://news.sky.com/story/hundreds-of-civil-war-victims-treated-every-day-as-myanmar-chaos-spills-over-thailand-border-13121773


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“Bird flu ‘likely spreading in cows since last year’ as concern grows over US virus detection systems…

“Of particular concern is whether H5N1 might now be able to infect pigs, often described as ‘mixing vessels’ for influenza and making it more likely that the virus could spill over into humans. There have also been unconfirmed reports that the virus has jumped from cows back to birds, highlighting the potential threat of recombination…”

https://www.telegraph.co.uk/global-health/science-and-disease/bird-flu-likely-spreading-in-us-cattle-since-last-year/


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“Bird Flu Virus Remnants Found In U.S. Milk Supply—FDA Says Milk Remains Safe…

“The Food and Drug Administration announced Tuesday that samples of pasteurized milk from around the U.S. tested positive for remnants of the H5N1 bird flu—a finding that comes about a month after the infection began spreading in dairy cows across multiple states.”

https://www.forbes.com/sites/antoniopequenoiv/2024/04/23/bird-flu-virus-remnants-found-in-us-milk-supply-fda-says-milk-remains-safe/


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“Bird flu: Global spread of the virus fuels fears of human contamination…

“…the alert level has just been raised a notch… This telling change in tone reflects the experts’ struggle to balance the reassuring and worrying aspects of the epizootic… All the experts agree on one point: To limit the risk of transmission to humans, vigilance is essential.”

https://www.lemonde.fr/en/environment/article/2024/04/24/bird-flu-global-spread-of-the-virus-fuels-fears-of-human-contamination_6669359_114.html


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“Green subsidies making poor nations poorer, World Bank warns.

“Industrial policies that pump green subsidies worth billions into advanced economies risk widening inequalities between rich and poor countries, the World Bank has said as it warned of a “great reversal” in the growth prospects of the most vulnerable nations.”

https://www.thetimes.co.uk/article/green-subsidies-making-poor-nations-poorer-world-bank-warns-22vxvwbj8


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

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