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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“Conflicts drive number of forcibly displaced people to record high…

“The latest annual assessment from the United Nations high commissioner for refugees (UNHCR) said a sharp rise in the number of people forcibly displaced during 2023 had brought the total to a record high of more than 117 million.”

https://www.theguardian.com/global-development/article/2024/jun/13/conflicts-record-forcibly-displaced-people-refugees-unhcr


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“Migrants dying in unprecedented numbers on Canary Islands route…

“An unprecedented nearly 5,000 migrants have died at sea in the first five months of 2024 trying to reach the Spanish Canary Islands, according to a report released by migration rights group Walking Borders on Wednesday.”

https://www.reuters.com/world/migrants-dying-unprecedented-numbers-canary-islands-route-ngo-says-2024-06-12/


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“Mexico’s tactic to cut immigration to the U.S.? Wear out migrants…

“Driven by mounting pressure from the U.S. to block millions of people headed north, but lacking the funds to deport them, Mexican authorities are employing a simple but harsh tactic: wearing migrants out until they give up.”

https://www.latimes.com/world-nation/story/2024-06-13/mexicos-tactic-to-cut-immigration-to-the-us-wear-out-migrants


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“The Federal Reserve’s move to signal fewer interest-rate cuts this year deepens its divergence from peers who have already begun to ease…

“For the world economy, divergence from the Fed matters. Higher US interest rates stoke dollar strength and will continue to lure foreign capital away from rival economies, especially emerging ones.”

https://www.bloomberg.com/news/articles/2024-06-14/fed-diverges-from-global-peers-in-new-era-of-higher-for-longer


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“Nigel Farage’s Reform [right wing populist] UK overtake the Conservatives for first time in new poll…

“The findings will come as a body blow to Rishi Sunak after a disastrous election campaign and risks triggering panic among many Tory MPs. The poll results were released minutes before Mr Farage was due to take part in a 7-way debate on ITV…”

https://www.independent.co.uk/news/uk/politics/nigel-farage-polls-overtake-tory-first-time-reform-b2562311.html


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“Victory for French far right could trigger Liz Truss-style debt crisis, warns finance minister…

“Le Maire warned that France “simply [does] not have the means to finance [RN leader] Marine Le Pen’s additional tens of billions of euros” in costs associated with the party’s agenda to cut sales taxes and reduce the retirement age.”

https://www.ft.com/content/b0f2ce3e-e951-4ef4-9325-86b0594e7205


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“The rise of the far right alarms German business leaders…

“A survey of 900 business leaders last month by iw, a think-tank, found that almost 70% saw the afd’s rise as a risk to Standort Deutschland, shorthand for Germany as a place for business and investment. They fret in particular about what it means for the survival of the eu and the euro.”

https://www.economist.com/business/2024/06/13/the-rise-of-the-far-right-alarms-german-business-leaders


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“Fistfight erupts in Italian Parliament as tensions rise over expanding regional autonomy.

“Tensions in Italy’s lower house over a government proposal that opponents says will further impoverish the poorer south erupted into a fist-fight that sent an opposition lawmaker to the hospital.”

https://abcnews.go.com/International/wireStory/fistfight-erupts-italian-parliament-tensions-rise-expanding-regional-111084939


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“European leaders have bowed to American pressure and agreed to a $50 billion loan deal for Ukraine using the proceeds from frozen Russian assets.

“On Thursday, G7 leaders in Italy announced that Ukraine would receive a major financial boost by the end of the year…”

https://www.telegraph.co.uk/world-news/2024/06/13/g7-leaders-agree-50bn-loan-ukraine-russia-war/


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“The euro’s share of global foreign exchange holdings fell last year amid concerns that plans to use frozen Russian assets to finance Ukraine could further erode the appeal of Europe’s single currency…

“Other countries cut euro assets in their central bank reserves by about €100bn last year, a drop of nearly 5 per cent…”

https://www.ft.com/content/7e7bcb76-2d4b-41b1-8cea-73bebf74724b


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“Russia’s main exchange has halted trading in dollars and euros after a sharp escalation in US sanctions targeted the remaining links between the Russian financial system and foreign banks…

“The impact of new sanctions could be mitigated by Russia’s pivot from what it calls “toxic” internationally traded currencies to the renminbi.”

https://www.ft.com/content/50d6bcd1-f1f6-41a1-bb26-a5482654883f


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“‘Sanctions hole’: how secretive routes supply Russia with western tech and consumer goods…

“Internal data from the Russian customs agency shows imports rebounding to close to their prewar levels, researchers say, although at considerably higher prices. Those imports have helped sustain vulnerable industries, such as aviation and the car industry.”

https://www.theguardian.com/world/article/2024/jun/12/russia-sanctions-hole-backdoor-routes


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“EU and Ukraine ask Azerbaijan to facilitate Russian gas transit, says official…

“While the EU has cut most of its Russian gas imports, some central European countries still depend on gas from Russia via a pipeline that crosses Ukraine. Austria still receives most of its gas through this route.”

https://www.reuters.com/business/energy/eu-ukraine-ask-azerbaijan-facilitate-russian-gas-transit-says-official-2024-06-13/


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“US reporter Evan Gershkovich to stand trial in Russia on espionage charges…

“The Wall Street Journal reporter was arrested in March 2023 while on a reporting trip to the Urals city of Yekaterinburg and has been held in Moscow’s notorious Lefortovo prison since.”

https://www.france24.com/en/europe/20240613-us-reporter-evan-gershkovich-to-stand-trial-in-russia-on-espionage-charges


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“NATO to take tougher action on Russian spies, says Stoltenberg…

““We have seen several examples of sabotage, of arson attempts, of cyberattacks, of disinformation,” Stoltenberg told reporters ahead of a meeting of NATO defense ministers set to take place Thursday and Friday in Brussels.”

https://www.politico.eu/article/nato-tough-action-on-russian-putin-kremlin-spy-spies-stoltenberg/


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“Armenia to withdraw from Russia-led military alliance, accusing members of plotting war…

“Armenia will leave a Russia-led military alliance, Prime Minister Nikol Pashinyan confirmed Wednesday, accusing members of the bloc of plotting with bitter rival Azerbaijan to start a war against them.”

https://edition.cnn.com/2024/06/13/europe/armenia-withdraw-russia-alliance-azerbaijan-intl/index.html


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“Georgia’s protesters vow to stay on streets until government falls…

“Thousands of people have taken to the streets of the Georgian capital, Tbilisi, in the past two months to protest the law, which critics have compared to similar measures in Russia. Many of the demonstrators carry European Union and Georgian flags…”

https://www.voanews.com/a/georgia-s-protesters-vow-to-stay-on-streets-until-government-falls/7652879.html


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“G7 leaders turn attention to simmering tensions with China…

“Fair trade with the world’s second-largest economy, notably on green technology, will be discussed by US President Joe Biden and the leaders of Japan, France, Germany, Italy, Canada and Britain in Puglia. The Group of Seven rich democracies will also be seeking a common response to China’s alleged support of Russia’s military expansion…”

https://www.france24.com/en/europe/20240614-g7-summit-tensions-china


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“Europe risks trade war with China by hiking tariffs on its electric cars…

“The European Union has hiked tariffs on electric cars imported from China, drawing a rebuke from Beijing, which sees the bloc as a vital and growing market for its auto industry. Additional tariffs of between 17.4% and 38.1% will be applied on top of the existing EU duty of 10%…”

https://edition.cnn.com/2024/06/12/cars/europe-china-ev-tariffs/index.html


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“US lawmakers pass Tibet policy bill that questions China’s claims over region…

“A bipartisan bill seeking to counter Beijing’s narrative about China’s control over Tibet and promote dialogue between the Chinese government and the Dalai Lama is heading to US President Joe Biden’s desk.”

https://www.scmp.com/news/china/article/3266374/us-lawmakers-pass-tibet-policy-bill-questions-chinas-narrative-leaves-status-unresolved


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“Crude propaganda? Rumours abound that Saudi Arabia is set to drop the petrodollar for the Chinese yuan…

“BRICS News reported that a 1974 agreement between Washington and Riyadh had now expired with Saudi Arabia preparing to sell its oil in multiple currencies. [However] there is no evidence that an official pact with a 50-year lifetime exists.” [My bad, but, in my defence, even senior-league commentators like Javier Blas of Bloomberg were taking this seriously].

https://www.newarab.com/news/saudi-arabia-about-drop-petrodollar-chinese-yuan


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“Limits on US Arms Sales to Saudi Arabia Draw Review, Showing Shift.

“A top Senate Democrat is reviewing limits put on US weapons sales to Saudi Arabia, signaling warmer ties as the Biden administration pursues a security agreement with the kingdom and seeks to ease the Israel-Hamas conflict.”

https://www.bloomberg.com/news/articles/2024-06-13/arms-sales-to-saudi-arabia-being-reviewed-as-security-deal-nears


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“Israeli troops use medieval-style trebuchet weapon in fighting at Lebanon border…

“Video of the weapon hurling a fireball emerged Thursday, sparking equal measures of confusion and amusement in Israel, even as Israeli troops and Hezbollah were locked in some of the most intense fighting of the war.”

https://www.nbcnews.com/news/world/israeli-troops-use-medieval-style-trebuchet-weapon-fighting-lebanon-bo-rcna157041


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“Gaza war: with both sides playing politics, don’t expect a ceasefire any time soon…

“Hamas is persistently reasserting itself in parts of Gaza that have previously been occupied by the IDF. Hamas may have had huge losses of its own, but it is becoming clear that it has not been defeated. And this is having serious consequences for Netanyahu’s government.”

https://theconversation.com/gaza-war-with-both-sides-playing-politics-dont-expect-a-ceasefire-any-time-soon-232268


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“Two cruise missiles launched by Yemen’s Houthi rebels have struck a bulk cargo carrier in the Gulf of Aden, severely injuring one of the crew.

“The M/V Verbena, a Palauan-flagged, Ukrainian-owned, and Polish-operated ship, “reported damage and subsequent fires on board. The crew continues to fight the fire.”

https://www.aljazeera.com/news/2024/6/14/one-sailor-injured-merchant-ship-on-fire-after-houthi-missile-attack


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“DFS furniture chain blames Red Sea crisis for profit warning…

“The company said in an update on Tuesday that the fall in profits was driven in part by Red Sea routing problems caused by the attacks by Houthi militants in Yemen on commercial shipping vessels travelling through the stretch of water.”

https://www.theguardian.com/business/article/2024/jun/12/dfs-furniture-chain-red-sea-profit-warning


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“Evidence of Iran and UAE drones used in Sudan war.

“Iran and the United Arab Emirates (UAE) have been accused of violating a UN arms embargo by supplying drones to the warring sides in the 14-month conflict that has devastated Sudan. We look at the evidence to back up the claim.”

https://www.bbc.co.uk/news/articles/c2vvjz652j1o


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“ICC prosecutor seeks information about possible Sudan conflict war crimes…

“Karim Khan said in a video statement that he was “particularly concerned by the ethnically motivated nature” of attacks on civilian populations, especially in the western Darfur region, asking people to provide evidence so the ICC could investigate further.”

https://www.ft.com/content/e3dc1aa1-adde-4e82-89c7-7feb3b816719


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“Violations against children in conflict reach ‘extreme levels’, UN says…

“The annual Children and Armed Conflict report found “a shocking 21 percent increase in grave violations” against children under the age of 18 in an array of conflicts, such as in the Democratic Republic of the Congo, Burkina Faso, Somalia, Gaza and Syria.”

https://www.aljazeera.com/news/2024/6/13/violations-against-children-in-conflict-reach-extreme-levels-un-says


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“Riots break out in Buenos Aires over President Javier Milei’s reforms…

“Thousands gathered outside Congress to protest against the bill as it delegates broad powers to the president – a right-wing economist – in energy, pensions, security and other areas. At least 20 police officers were injured and more than a dozen protesters were arrested…”

https://news.sky.com/story/riots-break-out-in-buenos-aires-over-president-javier-mileis-reforms-13152320


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“Bolivia Deploys Military to Gas Stations Amid Fuel Shortage…

“Bolivia is sending its military to gas stations in a bid to curb the smuggling of subsidized fuel that, according to the government, is causing gasoline and diesel shortages across the country… Bolivia has been struggling with falling oil production and a chronic lack of foreign currency…”

https://www.bloomberg.com/news/articles/2024-06-12/bolivia-deploys-military-to-gas-stations-amid-fuel-shortage


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“Uranium Price Surge Reveals a World Returning to Nuclear Power.

“Nuclear power is back in vogue as countries confront mounting pressure to hit climate goals and overcome energy supply strains caused by geopolitical turmoil.”

https://www.bloomberg.com/news/newsletters/2024-06-13/uranium-price-surge-reveals-a-world-returning-to-nuclear-power-big-take


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“What Happens if a Nuke Goes Off in Space? Russia may be planning to put a nuclear weapon in orbit. We have known since the 1960s why that is a bad idea…

“In space… there’s no fireball, shockwave or mushroom cloud. Instead a bomb releases all its power as electromagnetic radiation, including gamma rays and x-rays. This unleashes three waves of destruction.”

https://www.scientificamerican.com/article/what-happens-if-a-nuclear-weapon-goes-off-in-space/


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

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