Economy

Global inequality is 25% higher than it would have been in a climate-stable world

Those least responsible for global warming will suffer the most. Poorer countries – those that have contributed far less to climate change – tend to be situated in warmer regions, where additional warming causes the most devastation. Nicholas Beuret The Conversation Extreme weather events such as Syria’s prolonged drought, South Asia’s catastrophic monsoon floods, and Cyclone Idai in South-East Africa, the third deadliest cyclone on record, are becoming more likely and more severe. These events are disproportionately bringing death, displacement, ... Read More »

Lettuce-Farming Robots Might Grow Your Next Salad

California’s grow houses are making use of applied intelligence and robotics to cultivate the time- and labor-intensive greens. Dimitra Kessenides Bloomberg Your next salad might include leafy greens grown by robots in California greenhouses. About 75 percent of the lettuce farmed in the U.S. comes from that state’s Central Coast and San Joaquin Valley. Cultivating it requires warm temperatures, not too much rain, and lots of time and labor. Startups such as Iron Ox, a maker of agricultural robots, and… ... Read More »

Venezuela’s Trade Scheme With Turkey Is Enriching a Mysterious Maduro Cron

Investigators say retrofitted criminal networks are being used to trade gold for the food that’s propping up the regime. By Michael Smith and Monte Reel From: New Economy Forum In the late afternoon of July 15, 2016, a cluster of staffers inside the Turkish Embassy in Caracas struggled to make sense of the images from home flashing across their televisions and computer screens. Military trucks were blocking a bridge over the Bosporus, tanks were rolling into the Istanbul airport, and ... Read More »

Not Proclaiming Exclusive Economic Zone Costing 28 Billion Kuna

ZAGREB, April 25, 2019 – MOST MPs Nikola Grmoja and Tomislav Panenić said on Thursday that Croatia is losing between 170 and 270 million euro each year for not declaring an… HINA Total Croatia News Grmoja told a press conference that during Wednesday’s parliamentary debate on a MOST-sponsored motion for Croatia to declare an EEZ, Croatian Democratic Union (HDZ) whip… “Because of that every year we lost funds equalling the value of one Pelješac bridge,” Grmoja said and added that ... Read More »

The Risks of Maximising Pressure on Iran

The Trump administration’s “maximum pressure” campaign against Iran is more likely to fuel resistance and retaliation than capitulation. Ali Vaez ICG Washington should heed past lessons lest it provokes a new nuclear crisis or a regional escalation. The U.S. decision on 22 April to end sanctions exemptions for Iran’s remaining oil customers, following on an earlier designation of the Islamic Revolutionary Guard Corps as a Foreign Terrorist Organization (FTO), significantly escalates the… The intent is clear: bankrupt Iran into… The Risks of… Read More »

New NOAA OceanReports Tool Brings Ocean Data to Your Fingertips

A new web-based interactive tool for ocean mapping and planning created by NOAA and the Department of the Interior’s Bureau of Ocean Energy Management (BOEM), is giving… Tammy Waitt American Security Today The new OceanReports web tool, available at http://www.marinecadastre.gov/oceanreports/, provides users specialized “ocean neighborhood analyses” including maps and graphics by… U.S. ocean waters comprise nearly four million square miles and is one of the largest Exclusive Economic Zones (EEZ) in the world. What is the EEZ? The exclusive economic zone ... Read More »

US to end Iran oil waivers to 8 countries, including Turkey

The United States announced on April 22 it will no longer grant sanctions exemptions to eight countries, including Turkey. Washington Hurriyet The White House said that Saudi Arabia and the United Arab Emirates- close U.S. allies that back President Donald Trump‘s hawkish stance against regional rival Iran– would work to make up the difference in oil to ensure that global markets are not rocked. “This decision is intended to bring Iran‘s oil exports to zero, denying the regime its principal source of revenue,” ... Read More »

How much of Europe does China own?

The European Union has introduced a new mechanism for screening foreign investment. It’s widely believed to have been prompted by concerns over China’s economic ambitions in Europe. By Reality Check team BBC News It will allow the European Commission – the EU’s executive arm -… In March, the European Commission called China a “systemic rival” and a “strategic competitor”. The Chinese Ambassador to the EU urged the bloc to remain “open and welcome” to Chinese investment, and not to “discriminate”. ... Read More »

Employers wary of hiring refugees and migrants to help fill shortages need help understanding the law

A recent survey I conducted of employers in Coventry in the West Midlands found that while 80% of the businesses we interviewed had hard-to-fill job vacancies, less than 5% had employed a… Catherine Harris The Conversation Yet, for most refugees, integration into their new home is heavily dependent on having a job. Finding employment is not only essential for refugees’ autonomy, but it can also improve language skills, increase cultural awareness, build local and social networks, and… If someone has ... Read More »

Will Conservatives Abandon the Free Market?

Conservatives would either “combat” or “convert” business or base their politics “squarely on it.” But, he warned, conservatism “founded on money,” is “fickle, selfish, and irresponsible.” Joshua Tait The National Interest WHEN FOX television host Tucker Carlson recently attacked conservative faith in free market economics, he probably surprised a number of his viewers. For too long, Carlson charged, libertarians and social conservatives have ignored the fundamental part economic structures play in undermining communities. Families are crushed beneath market forces. Disposable ... Read More »

Trump forces Brussels’ hand on trade despite tariffs backlash

Trump’s threat of auto tariffs has finally spurred EU leaders into action on a new trade deal with Washington. As the US president seeks reelection next year, will Europe hold more clout in upcoming negotiations? Nik Martin Deutsche Welle Nine months after European Commission President Jean-Claude Juncker rushed to Washington to stave off the prospect of US tariffs on European cars, the European Union signaled this week it was ready to restart trade talks with… EU leaders have been grappling with the ... Read More »

Deutsche Bank faces action over $20bn Russian money-laundering scheme

Exclusive: in confidential internal report seen by the Guardian, bank says scandal has hurt global brand Luke Harding The Guardian Germany’s troubled Deutsche Bank faces fines, legal action and the possible prosecution of “senior management” because of its role in a $20bn Russian money-laundering scheme, a confidential internal report seen by the Guardian says. The bank admits there is a high risk that regulators in the US and UK will take “significant disciplinary action” against it. Deutsche concedes that the scandal has ... Read More »

Poverty as a moral question: do we have the collective will to end it?

How did we get here, and why does Australia, allegedly the land of the fair go, fail to make progress on lifting the bottom 10% out of poverty? Gay Alcorn The Guardian Ronald Henderson, the chair of Australia’s only comprehensive inquiry into poverty, had what a friend called “an offended conscience”. His inquiry, whose main report was released a few months before the Whitlam government was dismissed in 1975, did as much as any single act before or after it ... Read More »

How we will rebuild trust in Irish banking

A new independent body will have a dedicated focus on banking culture John Hedigan The Irish Times Trust in the Irish banking system is at an all-time low. This is an unsustainable situation which damages not only the banking sector but the general public interest. To address this problem, banking culture in Ireland needs to change. For that change to be authentic and sustainable, it must come from within. If regulation were enough, the necessary change would have come about ... Read More »

China takes Australia’s Huawei 5G ban to global trade umpire

Beijing: China has complained to the World Trade Organisation about Australia’s ban on Huawei participating in the 5G network. Kirsty Needham WAtoday The complaint, made at a WTO meeting in Geneva on Friday, does not mention Huawei by name but refers to Australia’s “discriminatory market access prohibition on 5G equipment”, according to the meeting’s agenda seen by The Sydney Morning Herald and The Age. The complaint has been lodged with global trade umpire as the federal government has entered caretaker mode ahead of the ... Read More »

The outlook for the global economy goes from bright to precarious

The latest IMF report should provide sobering reading for both major parties ahead of the federal election Greg Jericho The Guardian The IMF has downgraded forecasts for economic growth across the world in its latest world economic outlook released this week. The report should provide sobering reading for both major parties ahead of the federal election as a substantial slowdown in the world economy could severely affect revenue forecasts and the ability to deliver spending commitments and tax cuts while also balancing ... Read More »