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.

  • Facebook
  • Twitter
“Biden promises new air defenses for Ukraine in forceful NATO speech.

“Joe Biden has announced that NATO countries will provide Ukraine with five new strategic air defense systems as leaders began a summit in Washington where the alliance was expected to declare Ukraine’s path toward NATO to be “irreversible”.”

https://www.theguardian.com/world/article/2024/jul/09/nato-biden-ukraine-air-defenses


  • Facebook
  • Twitter
“NATO looks at how to make itself ‘war-ready’.

““The biggest cost and the greatest risk will be if Russia wins in Ukraine,” Stoltenberg said… “We cannot let that happen.” The push comes after high-ranking Western military officials – including Germany, Poland and Sweden, stressed that NATO members need to be ready for war within the next decade.”

https://www.euractiv.com/section/defence-and-security/news/nato-looks-at-how-to-make-itself-war-ready/


  • Facebook
  • Twitter
“Intelligence on Russian sabotage threat prompted increase in security at US military bases in Europe.

“The intelligence the US received suggested that Russia had included US bases and military personnel as options to attack via proxies, the sources said — similar to plots that have been carried out or disrupted across Europe in recent months.”

https://edition.cnn.com/2024/07/09/politics/intelligence-russian-sabotage-threat-us-bases-europe/index.html


  • Facebook
  • Twitter
“Russia’s China envoy slams ‘irresponsible’ West for ‘blackmailing’, touts BRICS bloc.

“Russia’s ambassador to China accused the West of “constant blackmailing and pressure” during a peace forum in Beijing on Sunday, and attempted to position the Brics bloc of major emerging economies as an inclusive force that seeks to shape the future world order.”

https://www.scmp.com/news/china/diplomacy/article/3269781/constant-blackmailing-russias-china-envoy-slams-irresponsible-west-touts-brics-bloc


  • Facebook
  • Twitter
“Australia and its allies, including the US and Japan, on Tuesday accused the Chinese spy agency of large-scale cyber espionage, targeting government and business networks…

“In March this year, the US and UK also accused China for state-sponsored cyberattacks which Beijing rejected and said it was itself the victim of such actions.”

https://www.aa.com.tr/en/asia-pacific/australia-allies-accuse-chinese-spy-agency-of-large-scale-cyber-espionage/3270094


  • Facebook
  • Twitter
“Beijing steps up probe into EU brandy imports as trade tensions deepen after tariffs on Chinese EVs.

“The Chinese commerce ministry will hold a hearing on July 18 to discuss the probe into claims that European producers are selling brandy in China at artificially low prices, according to a statement from the ministry Friday.”

https://edition.cnn.com/2024/07/08/business/china-eu-brandy-import-probe-intl-hnk/index.html


  • Facebook
  • Twitter
“Saudi Arabia threatened to sell off European debt if G-7 seized Russian assets…

“The veiled threat was passed along from Saudi Arabia’s finance ministry earlier this year to some G-7 counterparts, as the group weighed seizing Russian assets designed to support Ukraine. Saudi Arabia specifically signalled out the euro debt issued by France…”

https://www.middleeasteye.net/news/saudi-arabia-threatened-sell-european-debt-if-g-7-seized-russian-assets-report


  • Facebook
  • Twitter
“The UK and France now have to deal with very uncertain futures…

“The [UK] economy has grown only 1.8 per cent since the 2016 Brexit vote. For context, the US economy has expanded nearly 9 per cent over that period. Living standards have declined and public infrastructure and services have deteriorated badly…”

https://www.smh.com.au/business/the-economy/uk-and-france-now-have-to-deal-with-very-uncertain-futures-20240709-p5js48.html


  • Facebook
  • Twitter
“Rachel Reeves warns UK public finances in worst state since second world war…

“In her first major speech in the role, the UK chancellor prepared the ground for tough choices on the public finances this year as she vowed to prioritise growth and unblock housing developments and onshore wind farms.”

https://www.ft.com/content/ab7a74a0-3353-4254-b112-b8fd19bf5bd2


  • Facebook
  • Twitter
“The prime minister and chancellor have been briefed by Whitehall officials that the poor state of Thames Water presents a “critical risk” to the country, the Guardian understands.

“Fears about the company go beyond its precarious financial position and include the management of sites that provide drinking water and sewage treatment for millions of customers…”

https://www.theguardian.com/business/article/2024/jul/08/starmer-reeves-briefed-critical-risk-thames-water-whitehall-debt-infrastructure


  • Facebook
  • Twitter
“Rwanda says UK migrant deal did not stipulate return of funds…

“British Prime Minister Keir Starmer had announced on Saturday that the plan …was “dead and buried”.London has already paid Kigali £240 million (US$306 million) since former prime minister Boris Johnson first announced the plan in April 2022.”

https://www.scmp.com/news/world/europe/article/3269829/uk-migrant-deal-did-not-stipulate-return-funds-says-rwanda-government


  • Facebook
  • Twitter
“France is one accident from calamity…

“The scenario I worry about the most is a sovereign debt crisis between now and 2027. It would be a eurozone crisis on steroids. France falls into the category of countries that are too big to fail, and too big to save.”

https://www.newstatesman.com/podcasts/world-review-podcast/france-elects/2024/07/france-is-one-accident-from-calamity


  • Facebook
  • Twitter
“The State-Backed Debt Pile Causing Restructuring Pain in Italy…

“With interest rates likely to remain elevated, more companies that took out state-backed loans are likely to need help with repayments. Some firms… have been delaying the problem by repeatedly asking creditors for covenant waivers and resets on their loans.”

https://www.bloomberg.com/news/articles/2024-07-10/the-state-backed-debt-pile-causing-restructuring-pain-in-italy?embedded-checkout=true


  • Facebook
  • Twitter
“Top ECB official sounds alarm on rising risks from shadow banking…

“A senior European Central Bank official has said the “remarkable” growth of private funds and other sources of finance outside the regulated banks is the biggest threat to the stability of the Eurozone’s financial system.”

https://www.ft.com/content/3adfcfe4-b4fd-4247-bb8c-1af675369a98


  • Facebook
  • Twitter
“€130 Billion Nuclear Dream in Europe Meets Financial Reality…

“European nuclear projects are also notorious for construction delays and ballooning costs. In Slovakia, for example, a new unit at the Mochovce site was delayed by a decade and cost twice as much as the projected €2 billion.”

https://www.bloomberg.com/news/articles/2024-07-10/who-will-pay-for-eastern-europe-s-nuclear-power-plants


  • Facebook
  • Twitter
“Parade of Serbian army troops in Bosnia sparks outrage among Muslims.

“Serbian army troops held parades in Bosnia & Herzegovina’s towns of Bratuncac and Prijedor as part of a commemoration of the martyrdom of Serbs in the Podrinje area, sparking fresh unrest in the highly unstable Balkan country.”

https://www.intellinews.com/parade-of-serbian-army-troops-in-bosnia-sparks-outrage-among-muslims-332860/


  • Facebook
  • Twitter
“A Chinese man accused of buying spray paint which was used to write the word “toilet” on a controversial Japanese shrine has been arrested, local media reports.

“The incident at the Yasukuni shrine – which honours the country’s war dead, including some convicted of war crimes – sparked outrage in Japan.”

https://www.bbc.co.uk/news/articles/cv2g5nz00vko


  • Facebook
  • Twitter
“China’s dormant job market inflames anxieties, simmering social tensions to surface…

“The reaction of Chinese social media users to a recent series of violent attacks reflects widespread dissatisfaction over the country’s economic downturn and worsening employment prospects.”

https://www.scmp.com/economy/china-economy/article/3269764/chinas-dormant-job-market-inflames-anxieties-simmering-social-tensions-surface


  • Facebook
  • Twitter
“A scandal over the handling of cooking oil has renewed concerns over food safety in China and cast a harsh spotlight on a major state-owned company.

“An undercover report by the state-backed Beijing News alleged that it is an “open secret” that “to save costs,” tankers used to transport fuel and chemicals are also used to move cooking oil and syrup without any cleaning.”

https://asia.nikkei.com/Business/Food-Beverage/China-cooking-oil-scandal-sparks-a-scramble-to-reassure-consumers2


  • Facebook
  • Twitter
“India races to build hydro-power plants in region claimed by China…

“The Indian government is pushing projects in the eastern region following reports that Beijing could construct dams on a section of the Brahmaputra river, known as the Yarlung Tsangbo in China, that flows from Tibet through Arunachal Pradesh.”

https://www.reuters.com/world/asia-pacific/india-races-build-power-plants-region-claimed-by-china-sources-say-2024-07-09/


  • Facebook
  • Twitter
“India’s climate crisis: New coal mining spreads as heat waves drain hydro dams…

“According to data from federal grid regulator Grid-India, analyzed by Reuters, hydro’s share of India’s total power output fell to a record low of 8.3% during the fiscal year ended March 31…”

https://asia.nikkei.com/Spotlight/The-Big-Story/India-s-climate-crisis-New-coal-mining-spreads-as-heat-waves-drain-hydro-dams


  • Facebook
  • Twitter
“India Poised to Secure Long-Term Uranium Supply From Russia.

“Russia and India are likely to agree on a long-term uranium supply pact for a nuclear power plant coming online in the southern state of Tamil Nadu, said senior officials with knowledge of the matter.”

https://www.bloomberg.com/news/articles/2024-07-08/india-poised-to-secure-long-term-uranium-supply-from-russia


  • Facebook
  • Twitter
“New Caledonia on the brink of civil war…

“On 7 July 2024, the French National Assembly elections witnessed a historic victory for Emmanuel Tjibaou, a pro-independence leader… Analysts warn that global tensions and political instability may impact France’s long-term military strategy in the Indo-Pacific, with concerns that French Pacific territories may pursue independence.”

https://eastasiaforum.org/2024/07/09/new-caledonia-on-the-brink-of-civil-war/


  • Facebook
  • Twitter
“Milei’s absence from Mercosur presidential summit sows doubt about bloc’s future…

“South American free trade bloc Mercosur held its presidential summit on Monday in Paraguay without Argentina’s President Javier Milei, who was in Brazil for a conference of Latin American conservatives. The snub was slammed as “complete foolishness” by Brazil’s leader Luis Inacio Lula da Silva and underlines the political frictions within the bloc.”

https://www.france24.com/en/tv-shows/business/20240709-milei-s-absence-from-mercosur-presidential-summit-sows-doubt-about-bloc-s-future


  • Facebook
  • Twitter
“Pristine forests and grinding poverty: why shouldn’t Brazil’s Amapá state embrace oil wealth?

“The state’s dilemma sums up a core problem faced by the president, Luiz Inácio Lula da Silva: how to reconcile environmental commitments with the need for development.”

https://www.theguardian.com/global-development/article/2024/jul/09/pristine-forests-and-grinding-poverty-why-shouldnt-brazils-amapa-state-embrace-oil-wealth


  • Facebook
  • Twitter
“In Venezuela, hunger stalks presidential election.

“Venezuela votes for its next president on July 28 – and the dire straits in which many live will be top of people’s minds. Despite a recent economic recovery that has been much touted by the Maduro government, many families are going hungry and depending on aid to feed themselves.”

https://www.reuters.com/world/americas/venezuela-hunger-stalks-presidential-election-2024-07-09/


  • Facebook
  • Twitter
“Africa, Middle East emerging as battleground for US-China ‘enterprise tech trade war’ — experts.

“While the growing geopolitical tensions between the US and China have not yet erupted into an actual physical conflict, analysts have warned that there are “signposts of a struggle” in the region as the two superpowers fight for dominance…”

https://northafricapost.com/78640-africa-middle-east-emerging-as-battleground-for-us-china-enterprise-tech-trade-war-experts.html


  • Facebook
  • Twitter
“US troops leave Niger base at Niamey…

“US troops have completed a withdrawal from their base in Niger’s capital of Niamey and will fully depart from Agadez in the north before a September 15 deadline set by the country’s military rulers, both countries said Sunday.”

https://www.france24.com/en/video/20240709-us-troops-leave-niger-base-at-niamey


  • Facebook
  • Twitter
“New Sahel block leaves West Africa more divided than ever.

The creation of a Sahel confederation on Saturday plunged West Africa into an unprecedented crisis that could threaten the free movement of people and goods in the region… On Sunday, ECOWAS warned against the “diplomatic and political isolation” of AES countries and the loss of millions of euros in investment.”

https://www.hindustantimes.com/world-news/new-sahel-bloc-leaves-west-africa-more-divided-than-ever-101720466522589.html


  • Facebook
  • Twitter
“Thousands of Rwandan Troops Fight in Congo, UN Report Shows…

“Thousands of Rwandan troops are backing a rebellion in eastern Democratic Republic of Congo that has displaced millions of people and brought the two countries to the brink of war, a United Nations report showed.”

https://www.bloomberg.com/news/articles/2024-07-08/thousands-of-rwandan-troops-fight-in-east-congo-un-report-shows


  • Facebook
  • Twitter
“Sudanese refugees hiding in Ethiopian forest to escape bandits and militias…

“Refugees who spoke to Al Jazeera say at least 7,000 people left the camps and some 3,000 are still in the forest where they live alongside “wild animals” like hyenas, scorpions and snakes.”

https://www.aljazeera.com/features/2024/7/10/sudanese-refugees-dwell-in-ethiopian-forest-away-from-bandits-and-militias


  • Facebook
  • Twitter
“Yemen’s Houthi group on Tuesday said they have attacked three ships in the Arabian Sea and Gulf of Aden.

“The targeted ships were “Maersk Sentosa, Marthopolis, and MSC Patnaree,” said Yahya Sarea, the Houthi spokesperson, in a televised statement aired by the Houthi-run al-Masirah TV.”

https://news.cgtn.com/news/2024-07-10/Yemen-s-Houthis-claim-attacks-on-3-ships-in-Arabian-Sea-Gulf-of-Aden-1v769WPuy52/p.html


  • Facebook
  • Twitter
“Renewed Israeli offensive sees Gaza City health care crumble…

“The resumed military offensive, which forced tens of thousands to flee, has sown chaos among sick and injured Palestinians, as the city’s remaining medical facilities have been caught up in Israeli-ordered evacuation zones while others struggle to get fuel and medical supplies.”

https://www.washingtonpost.com/world/2024/07/09/israel-gaza-hamas-hospitals/


  • Facebook
  • Twitter
“Inside Israel’s underground blood vault and hospital, as the country prepares for new war with Hezbollah.

“Israel is preparing for war with Hezbollah by storing blood underground amid repeated attacks from across the border with Lebanon. A subterranean car park in Haifa, just 28 miles from the border, has been converted into a five-acre hospital…”

https://news.sky.com/story/inside-israels-underground-blood-vault-and-hospital-as-the-country-prepares-for-new-war-with-hezbollah-13175264


  • Facebook
  • Twitter
“World’s largest oil company bets on the enduring power of petrol…

“Saudi Aramco says combustion engines will be around for ‘very, very long time’ after Horse Powertrain investment… with growth in electric vehicle sales slowing and trade protectionism rising, the future of ICEs is looking less bleak.”

https://www.ft.com/content/a3019ce4-be91-4dc8-83c5-489f18bf56cf


  • Facebook
  • Twitter
“America’s reckless borrowing is a danger to its economy—and the world’s…

“How has it come to this? The costs of wars, a global financial crisis and pandemic, unfunded tax cuts and stimulus programmes have all piled up… America’s fiscal mess is home-made. But make no mistake: it is the whole world’s problem.”

https://www.livemint.com/economy/americas-reckless-borrowing-is-a-danger-to-its-economy-and-the-worlds-11720510033537.html


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

If you found value in this content, please help me continue this work by becoming a patron of my work via Patreon. And if you are already a subscriber or have donated – thank you!

Share This

Share this post with your friends!