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.

Huge thanks to November’s sponsor, Byron Windhorst, who has asked me to post the following:

Many of the climate articles featured here find their way to the Climate Catastrophe Group on Facebook, which covers extreme weather events and related science. We have over 4,000 members but would warmly welcome new ones, who are keen to engage and participate.


“The sea’s grip on the global economy: The chokepoints that can bring world trade to its knees…

“The closure of the Strait of Hormuz, a narrow waterway just over 20 miles wide through which 20% of the world’s oil consumption passed as recently as February, is a traumatic and unprecedented example of how disrupting maritime traffic through a strategic chokepoint can trigger a massive snowball effect.”

https://english.elpais.com/economy-and-business/2026-11-08/the-seas-grip-on-the-global-economy-the-chokepoints-that-can-bring-world-trade-to-its-knees.html


“Global trade at risk as Houthis capture Red Sea chokepoint under Iranian guidance…

“Officials with Yemen’s internationally recognized, Saudi-backed government acknowledged Friday that Iran-aligned Houthi forces had reached the coastal town of Dhubab and seized control of the Bab el-Mandab Strait. Meanwhile, Yemeni government forces withdrew from the strategic island of Perim, also known as Mayyun, which sits in the middle of the southern entrance to the strait.”

https://www.ynetnews.com/article/rkowklzfzx


“US strike on bulker marks new escalation as Hormuz ship casualties mount. US forces disabled the bulker Huda for allegedly breaching Washington’s blockade of Iran, while 22 crew were rescued.

“Iran claimed three tankers were hit for using unauthorised routes through Hormuz amid a mounting series of merchant ship casualties.”

https://www.lloydslist.com/LL1158948/US-strike-on-bulker-marks-new-escalation-as-Hormuz-ship-casualties-mount


“US task force to cut off Iran’s transport of advanced weapons. As fears of an escalation grow, Washington announces ‘Task Force Iron Gate’…

“The same day, the Islamic Revolutionary Guard Corps (IRGC) announced ambitious plans for underground complexes capable of sustaining missile and drone production under bombardment.”

https://www.aljazeera.com/news/2026/11/8/us-task-force-to-cut-off-irans-transport-of-advanced-weapons-what-we-know


“US demands Iraq close all but two border crossings with Iran.

“Iraqi Foreign Minister Fuad Hussein said Washington has formally requested that Baghdad reduce its border crossings with Iran to just two, warning that a complete shutdown would cripple Iraqi trade and economic activity while negotiations continue between the two governments.”

https://en.yenisafak.com/world/us-demands-iraq-close-all-but-two-border-crossings-with-iran-3725332


“Iran warns missile response to new attack could extend to Europe…

““The range of the responding missiles will also encompass Europe, and this will lead to the oil price crossing the $150 threshold,” Hosseinali Haji Deligani, a member of parliament, told Iran’s Tasnim news agency. He said Iran’s response would be “massive, multiplied and strategic”, without geographical limits.”

https://www.middleeasteye.net/live-blog/live-blog-update/iran-warns-missile-response-new-attack-could-extend-europe


“What to know about the hoax bomb threats that targeted flights in Europe.

“Bomb threats targeted dozens of flights across Europe this week following a string of hoaxes that caused flight diversions and forced airlines to scramble to keep passengers safe and air traffic disruptions minimal… The hoaxes have led to plane searches and diversions, and, in some cases, emergency landings and military escorts.”

https://apnews.com/article/europe-airports-planes-threats-9452dbb4410a518ff6443b5f02c9e95e


“ECB contender Klaas Knot ‘won’t hesitate’ to act in a debt crisis.

“Klaas Knot, one of two contenders to become the next president of the European Central Bank, is open to devising new tools potentially necessary to fight a European debt crisis if he secures the job, he told the FT… “If circumstances so dictate, we won’t hesitate [to intervene],” Knot told the FT.”

https://www.ft.com/content/4dfbc7b0-1add-4bc3-ab5e-78c18b2ca87a


“The unrest on Europe’s streets should worry global investors…

“Students, trade unions and movements like the “yellow vests” have taken to the streets throughout Europe, and they’re angry. Inflation is soaring. They can’t afford housing. Social programs are fraying. Pension outlooks are dire. Money for the public’s welfare is being reallocated to Europe’s rearmament.”

https://asia.nikkei.com/opinion/the-unrest-on-europe-s-streets-should-worry-global-investors


“France protests draw 146,000 as clashes erupt for fourth straight weekend.

“Protesters clashed with police in France on Saturday as demonstrations over living costs and public services entered a fourth consecutive weekend and drew students, trade unions and members of the revived “Yellow Vest” movement onto the streets.”

https://www.cnbc.com/2026/11/08/france-protests-clashes-arrests.html


“Greeks protest as parliament votes on 2026 budget.

“Greece’s parliament approved the 2026 state budget following intense debates and widespread demonstrations across the country. Public sector workers, including teachers, state hospital doctors, municipal employees, and farmers, staged nationwide 24-hour strikes and marched through central Athens to oppose the economic framework.”

https://www.reutersconnect.com/item/greeks-protest-as-parliament-votes-on-2026-budget/dGFnOnJldXRlcnMuY29tLDIwMjU6bmV3c21sX1JDMlRISUFMUjRTMA


“Latvian farmers protest over ‘blood grain’ trade with Russia.

“Latvian farmers are protesting Russian grain transit, arguing that it helps fund Moscow’s war in Ukraine. They say Latvia cannot support Kyiv while facilitating trade with Russia.”

https://www.aljazeera.com/video/newsfeed/2026/11/7/7-11-sv-latvia-farmers-protest-russian-grain-transit


“Blackouts and water shortages in Kyiv after Russia strikes Ukraine’s energy grid.

“Volodymyr Zelenskyy has accused Russia of trying to “plunge Kyiv and the entire country into a blackout”, after a major attack overnight on energy infrastructure in the capital and a bridge over the Dnipro River.”

https://www.theguardian.com/world/2026/nov/07/blackout-water-shortage-kyiv-russia-strike-ukraine-energy-grid


“Ukrainian drones reportedly hit Russia’s second-largest oil refinery.

“Ukrainian forces reportedly targeted Russia’s second-largest oil refinery in an overnight drone attack on the city of Kirishi in the Leningrad Oblast… The attack triggered several large explosions at the oil facility, located approximately 800 kilometers (500 miles) north of Ukraine…”

https://news.az/news/ukrainian-drones-reportedly-hit-russia-s-second-largest-oil-refinery


“Fuel crisis leaves Chinese cars breaking down across Russia…

“Service centers have reported up to six times more owners of Chinese-made cars seeking repairs over the past month, according to the Russian Telegram channel Mash, with weekly calls rising from 1-2 to as many as 6-10. The suspected culprit is so-called Euro-2 gasoline, which Russian authorities have authorized for production, import and sale until July 1, 2027.”

https://tvpworld.com/94802639/chinese-cars-break-down-in-russia-amid-fuel-shortage


“Ashamed and disillusioned, China’s jobless generation goes into hiding.

“Wari Gewa’s video shows the 28-year-old from China’s eastern Jiangsu province beginning her day by sliding into a coffin-like space hidden beneath her bed. She turns on the fairy lights strung across the ceiling of the cramped space and opens her laptop to watch a movie.”

https://www.afr.com/world/asia/ashamed-and-disianxious-china-s-jobless-generation-go-into-hiding-20261108-p6197z


“In China’s fierce race for success, mental health struggles are starting earlier…

“Experts say that as academic pressure is growing on younger students, so is the mental strain. It reflects the mounting pressure within Chinese society, where people are locked in cutthroat competition for opportunities, with serious implications for their lives ahead.”

https://www.scmp.com/news/china/politics/article/3373644/chinas-fierce-race-success-mental-health-struggles-are-starting-earlier


“China’s Bad-Debt Collectors Chase After 100 Million Defaulters…

““My mental state has been so bad for the past six months that I’ve fallen on the verge of depression,” says [debt collector] Hu, who himself graduated from college in 2024. “People simply have less capacity to repay than they did before. You can see the impact of the economy directly in the cases coming through.””

https://www.bloomberg.com/news/features/2026-11-08/china-s-debt-collectors-are-struggling-alongside-borrowers-who-can-t-p


“Australia Regulator Halts Private Credit Fund on Bathla Risks.

“Australia’s regulator stopped Angas Securities Ltd. from selling two managed investment schemes, the latest in a slew of actions to prevent private credit funds offering products that don’t adequately highlight potential risks.”

https://www.bloomberg.com/news/articles/2026-11-08/australia-regulator-halts-private-credit-fund-on-bathla-risks


“Philippine economic slump worsens on Iran war, bad weather.

“The Philippine economy unexpectedly slowed for a fifth straight quarter, raising questions about the central bank’s rate-hike cycle and heaping pressure on President Ferdinand Marcos Jr… The data underscore the damage to the Philippines from the U.S.-Iran war, which has driven up crude oil prices and inflation…”

https://www.japantimes.co.jp/business/2026/11/09/economy/philippines-economy-iran-war-weather/


“Iran war leaves Mumbai fishermen stranded by rising fuel costs…

“Small trawlers refuel at Naigaon Jetty and across Mumbai’s harbor. Diesel powers the engines on every trip. Fuel accounts for the largest share of operating budgets on most boats, so when prices climb or stay unpredictable, margins that keep families afloat vanish before the catch lands.”

https://news.lavx.hu/article/iran-war-leaves-mumbai-fishermen-stranded-by-rising-fuel-costs


“India questions US ‘double standards’ as Pakistan secures F-16 upgrade deal.

“Washington’s decision to upgrade Pakistan’s F-16 fighter jets has drawn accusations of double standards from critics in India, who question why the United States is strengthening a nuclear-armed ally while waging war against Iran over its nuclear programme.”

https://www.scmp.com/week-asia/politics/article/3373584/india-questions-us-double-standards-pakistan-secures-f-16-upgrade-deal


“Nearly 1.3 Million Afghans Return from Iran and Pakistan in Nine Months, UN Says…

“The mass return comes as Afghanistan faces one of the world’s worst humanitarian and human rights crises. Nearly half of the population need assistance, while women and girls remain stripped of most of their basic rights under Taliban rule… the situation could escalate into a wider humanitarian disaster with serious consequences for Afghanistan and beyond.“

https://kabulnow.com/2026/11/nearly-1-3-million-afghans-return-from-iran-and-pakistan-in-nine-months-un-says/


“Security forces kill 27 militants in Balochistan IBOs…

“The security forces recovered a large quantity of weapons, ammunition and improvised explosive devices (IEDs) from the militants’ hideouts. A sanitisation operation is under way in the area to check for the possible presence of other militants, the sources said.”

https://urdu.samaa.tv/2087359913-security-forces-kill-27-militants-in-balochistan-ibos-pakistan-news


“Drone attack suspends production at Iraq’s Khor Mor gasfield.

“A drone attack on the Khor Mor gasfield in the semi-autonomous Kurdish region of northern Iraq has caused a fire at the facility and cut power to the region, according to Iraqi and Kurdish officials. The Sunday night attack left more than 70 percent of the Kurdish region without power.”

https://www.aljazeera.com/news/2026/11/9/drone-attack-suspends-production-at-iraqs-khor-mor-gasfield


“Greek Coast Guard on Alert for Turkish Challenge in Aegean.

“Greece is preparing the largest equipment procurement program in the history of its Coast Guard, according to Ta Nea’s Saturday edition, which reported that the force would be the first to respond to any Turkish provocation in the Aegean, planned or accidental.”

https://www.tovima.com/politics/greek-coast-guard-on-alert-for-turkish-challenge-in-aegean/


“[Egyptian] Gov’t deepens industrial gas rationing, raising curtailments on fertilizer and methanol plants to 33%…

“The government is deepening its rationing of industrial gas, raising curtailments for fertilizer and methanol plants to 33% as surging global LNG import costs force it to trim the fuel it can afford… The supply crunch has also spilled over into metals…”

https://enterpriseam.com/egypt/2026/11/09/govt-deepens-industrial-gas-rationing-raising-curtailments-on-fertilizer-and-methanol-plants-to-33-and-notifying-ezz-steel-of-a-30-cut/


“Israel-Lebanon talks next week face pressure over reported violations.

“The Lebanese army said that it had recorded 7,700 Israeli violations since the agreement was signed, warning that continued breaches threatened the understandings reached between the parties Israel continues to hold positions in southern Lebanon, including territory it has occupied for decades.”

https://thearabweekly.com/israel-lebanon-talks-next-week-face-pressure-over-reported-violations


“Blow for Netanyahu as opposition rival asked to form government by Israel’s president.

“Israel’s president has asked Benjamin Netanyahu’s strongest rival, Gadi Eisenkot, to try to form a government following a deadlocked election. Mr Netanyahu is fighting to stay in office after his religious-nationalist coalition lost its majority in the 27 October election.”

https://news.sky.com/story/blow-for-netanyahu-as-opposition-rival-asked-to-form-government-by-israels-president-13609540


“Aramco Tower hit in heart of Saudi capital as Houthis launch fresh strikes…

“A statement issued via the Houthi-controlled Saba news agency confirmed the group had targeted Riyadh’s business zone on Saturday, without mentioning the Aramco Tower by name. The Saudi energy ministry said the tower had suffered only “minor damage” and no one had been killed or injured.”

https://www.bbc.co.uk/news/articles/c6ly3mjx958eo


“More Than 50 Killed in Yemen in One of the Deadliest 24 Hours of the War…

“Houthi officials said airstrikes tore through the village of al-Shariya, in the Bani Hushaysh district east of the capital, Sanaa, on Saturday. Anees al-Asbahi, a spokesman for the Houthi-run Health Ministry, said at least 27 people were killed and 30 others wounded, most of them women and children…”

https://www.nytimes.com/2026/11/07/world/middleeast/more-than-50-killed-in-yemen.html


“Deadly militant attack leaves over 50 dead in Ethiopia.

“More than 50 people have been killed in an attack by armed militants on the settlement of Daleti in western Ethiopia, the Borkena news portal reported, citing regional police. According to the authorities, the dead include 21 civilians, 18 members of regional security forces and 13 local militia fighters.”

https://www.azernews.az/region/267065.html


“Bread shortage threatens to plunge more Sudanese into hunger.

“Most bakeries in the capital Khartoum have shut their doors because of surging wheat prices and fuel shortages. Mahmoud, 44, says she and her husband now spend their combined salaries on bread alone. “The situation has become unbearable,” the mother of three said.”

https://www.rfi.fr/en/africa/20261108-bread-shortage-threatens-to-plunge-more-sudanese-into-hunger


“At least 23 dead in South Sudan clashes.

“Four weeks of clashes between South Sudan government and opposition forces in the north of the impoverished country have left 23 people dead while thousands have fled the conflict zone, authorities and police said Sunday. Hundreds of people have died in clashes across South Sudan in recent weeks…”

https://english.alarabiya.net/amp/News/world/2026/11/08/at-least-23-dead-in-south-sudan-clashes-


“Islamist Militant Attack Forces Patients to Flee Ebola Clinic in Congo…

“At least 44 people were killed in the attacks, officials said. It started late Thursday around Cantine-Aloya, a village about 28 miles west of Beni, a city in eastern Congo. Many homes were burned, forcing residents to flee the area. The violence is a major blow to efforts to contain the country’s Ebola outbreak.“

https://www.nytimes.com/2026/11/07/world/africa/congo-attack-ebola-isis-adf.html


“How the Sahel’s Demographic Surge Is Impacting Jihadist Recruitment.

“The Sahel’s rapidly growing youth population, disrupted education, weak livelihoods and heavy-handed counterinsurgency efforts will likely sustain jihadists’ ability to exploit grievances, recruit personnel and broaden support networks, limiting the durability of military gains.”

https://worldview.ranenetwork.com/content/analysis/2026-11-03/how-the-sahel-s-demographic-surge-is-impacting-jihadist-recruitment/4e8c4a56406344d0


“‘Potentially ugly’: taking war on gangs to Haiti poses risks for El Salvador’s leader.

“It has been nearly five years since El Salvador’s authoritarian leader, Nayib Bukele, launched his controversial “war” on gangs – transforming his country’s fortunes and becoming a hard-right beacon for Latin America’s fight against violent crime. Now the Salvadoran populist seems intent on exporting his hardline tactics to the region’s most violence-stricken nation, Haiti.”

https://www.theguardian.com/world/2026/nov/07/el-savador-war-on-gangs-haiti


“Targeted by U.S., Armed Group Strikes Back in Colombia…

“The United States has been helping Colombia and Venezuela target the ELN. On Oct. 30, U.S. forces assisted the Venezuelan Army in a drone attack on the group in Venezuela, providing intelligence and the drones. The ELN is Colombia’s oldest surviving leftist rebel group and a known cocaine trafficker that controls territory in both Colombia and Venezuela.”

https://www.nytimes.com/2026/11/08/world/americas/colombia-drone-attack-eln.html


“Argentina launches new rockets and buys four new Black Hawk helicopters from Trump…

“Argentine president Milei last month ruled out taking military action to take the islands from Britain, but has reignited tensions in recent months by claiming sovereignty. We do not believe in military solutions,” he stressed in comments to The Telegraph… But he added: “We are going to get the Falklands back by diplomatic means.””

https://www.independent.co.uk/news/world/americas/argentina-rockets-falklands-islands-us-black-hawk-b3080939.html


“Prosecutors in Paraguay have charged former president Santiago Peña over his alleged role in a banking scandal that led to his impeachment.

“He has been accused of breach of trust and administration for personal gain. Peña, who denies any wrongdoing, was forced from office after a bank collapse triggered a crisis that left more than half of the country’s population without access to their accounts.”

https://www.bbc.co.uk/news/articles/c68jzzvjgdy9o


“The crazy numbers that show the AI bubble is ripe for bursting…

“Deep systemic risks are emerging from how these companies are funded. Nvidia alone has made up to $500 billion (£375 billion) in commitments—including loans, guarantees, and investments—to its own customers so they can afford to buy its chips, creating a precarious loop of circular financing propped up by heavy debt.”

https://www.thetimes.com/business/companies-markets/article/crazy-numbers-ai-bubble-psqj7dq8f


“Wall Street’s $1.5 Trillion Debt Bubble Could Be More Dangerous Than AI.

“Wall Street’s biggest bubble may have nothing to do with artificial intelligence or quantum computing. Investors have borrowed a record $1.5 trillion against their brokerage accounts, and the speed at which that debt accumulated has preceded three of the most devastating stock market downturns of the past three decades.”

https://www.thewealthadvisor.com/article/wall-streets-15-trillion-debt-bubble-could-be-more-dangerous-ai


“The global rate hike cycle is accelerating:

“~45% of global central banks have raised interest rates over the last 3 months, the largest total in 3 years. This proportion has surged +40 percentage points since March. The global monetary tightening cycle is gaining momentum.” [Kobeissi Letter]

https://x.com/KobeissiLetter/status/2119498184615440538


“Turkiye pushes electrification top of climate agenda as COP31 set to open.

“Turkiye has said it would centre electrification on the COP31 agenda, launching the non-binding 35-by-35 Global Electrification Pledge, which aims to make electricity account for at least 35 percent of global energy demand by 2035.”

https://www.aljazeera.com/news/2026/11/9/turkiye-pushes-electrification-top-of-climate-agenda-as-cop31-set-to-open


“There is no future without oil and gas. The green-energy transition is a bridge to nowhere…

“…oil and gas are also raw materials. Most nitrogen fertiliser, and the basic ingredients of most paints and many medicines, start as oil or gas. Plastic is made from hydrocarbon molecules. There is not a single component in a wind turbine that does not need hydrocarbons to make it, nor in the equipment that makes the turbine, nor in the equipment that makes that equipment.”

https://www.spiked-online.com/2026/11/08/there-is-no-future-without-oil-and-gas/


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