The US National Snow and Ice Data Center said the minimum extent of 4.13 million sq km was reached on 16 September. The figure shatters all previous satellite surveys, including the previous record low of 5.32 million sq km measured in 2005. Even the fabled Arctic shipping route from the Atlantic to the Pacific, the …
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Hype over Chinese toys exaggerated
Recent hype about problems with Chinese manufactured goods was used as an excuse by some protectionist politicians and lobbies in the US to push for trade sanctions and even used as a tool to push for revaluation of the Chinese renminbi. The greatest hype surrounded the recall of more than 20 million toys by Mattel. …
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Oil prices rising again
Oil prices are reaching new highs as September draws to a close. They are peaking above $82 a barrel. If winter in north America and Europe comes in hard these prices will add to economic difficulties, though the majors will benefit as usual.
Chinese rates up again, but inflation still an issue
China’s central bank increased rates for the fifth time this year. The one year lending rate is now 7.29% as authorities attempt to ease inflationary pressure. However, the build-up of reserves continues as those that can borrow US$ at under 5%, like multinationals and foreign investors, do. The discrepancy between interest rates net of currency …
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The financial market risk of climate change
We’ve mentioned it before – people are getting together with lawyers to focus on polluters in the same way cigarette makers were targeted. On the same day that US rates were lowered investors and NGOs petitioned the SEC to clarify whether firms had an obligation to disclose how climate change might affect them. It is …
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Mishkin’s band-aid
Will the interest rate cut be seen as prescient salvation or impulsive band-aid in the coming months? The Fed, it seems, were swayed by Frederic Mishkin who, notes The Economist, argued forcefully in a recent speech that central bankers can cushion the impact of falling house prices on the economy, provided they act quickly and …
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Animals can talk
Animals other than humans, that is, of course. Alex the African Grey a parrot with a vocabulary of 150 words and communicating abstract concepts with them. And all in English, not Parrot!
US housing slump could raise headline inflation
This extract from John Mauldin’s Thought’s From The Frontline suggests that the downturn in US housing could be bad for inflation: Indeed, there may be some concerns that the CPI (Consumer Price Index) number could come under pressure from the housing component. Given that home prices are falling, that may be considered odd by many. …
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Oceans in Peril report
“Oceans in Peril: Protecting Marine Biodiversity“, published by the Worldwatch Institute in mid-September, outlines the factors causing damage to the ocean, namely fishing, pollution and climate change, and suggests a set of solutions.As much as 50% of the world’s fish stocks are fully exploited and 17% are over-exploited, putting marine biodiversity at severe risk. The …
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5th Global Corporate Climate Change Report issued by CDP
The Carbon Disclosure Project released its fifth Global Corporate Climate Change Report, tracking carbon disclosure and attitudes toward climate change in the world’s largest companies. The CDP this year also launched the Climate Disclosure Leadership Index, an honor roll for companies who are best addressing climate change issues. The launch coincided with the U.N. summit …
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