Washington Post (August 29)
“The United States and the entire planet are poised to clinch their most humid summer on record, scientists say. The sweltering conditions, which have pushed this year’s heat close to the limits of survivability in some areas and fueled flooding downpours, are part of a long-term increase in humid heat driven by human-caused climate change.”
Tags: Climate change, Downpours, Flooding, Heat, Human-caused, Humid, Limits, Planet, Record, Summer, Survivability, Sweltering, U.S.
Sydney Morning Herald (August 28)
“The hottest winter day ever recorded for Australia was this week: 41.6 degrees at Yampi Sound.” Temperatures are more comfortable in Sydney where “trees are blossoming, cafe dining has shifted outdoors, and Sydneysiders have flocked to beaches and parks.” The freakish heat “has also sent local and national climate records tumbling, sparked wildfires around NSW, and led to early closures and patchy snow at many ski resorts.”
Tags: 41.6 degrees, Australia, Beaches, Blossoming, Climate records, Freakish heat, Hottest, Outdoors, Parks, Ski resorts, Sydney, Temperatures, Wildfires, Winter
Bloomberg (August 27)
“Wall Street is beginning to sour on the outlook for crude next year, with Goldman Sachs Group Inc. and Morgan Stanley lowering price forecasts as global supplies increase, including potentially from OPEC+.” Both banks “now foresee global benchmark Brent averaging less than $80” and expect “prices trending lower over the 12 months.”
Tags: Benchmark, Brent, Crude, Forecasts, Global supplies, Goldman Sachs, Morgan Stanley, OPEC, Outlook, Sour, Wall Street
Wall Street Journal (August 26)
In the “latest retreat by U.S. companies,” IBM is shuttering its R&D operations in China. “Geopolitical tensions between the U.S. and China have led many multinational companies to reassess their business in China.” IBM once viewed “China as a major growth market,” but its market share has plummeted. Revenue dropped nearly 20% last year when “Beijing pushed Chinese buyers to purchase more from domestic technology suppliers, in a campaign dubbed ‘Delete America.’”
Tags: China, Companies, Geopolitical tensions, Growth, IBM, Market share, Multinational, R&D, Reassess, Retreat, Revenue, Shuttering, Suppliers, Technology, U.S.
Institutional Investor (August 26)
Multistrategy funds “are no longer the hottest thing in hedge funds. Investors fear too much money, and overcrowding of trades could pose systemic risk.” There is now growing interest in “single manager market-neutral funds.”
Tags: Fear, Hedge funds, Hottest, Investors, Market-neutral, Money, Multistrategy funds, Overcrowding, Single manager, Systemic risk, Trades
New York Times (August 25)
“Given the war in Ukraine, the risks of a larger war in the Middle East and China’s accelerating challenge to American primacy, Europe needs the United States more than it has since the end of the Cold War. And America still has a unique and valuable asset that its growing list of rivals and adversaries don’t: reliable allies and partners in Europe.” No two ways about it: “America and Europe need each other.”
Tags: Adversaries, Allies, Asset, China, Cold war, Europe, Middle East, Primacy, Reliable, Risks, Rivals, U.S., Ukraine, Unique, Valuable, War
Reuters (August 24)
The U.S. Federal Reserve “must determine how quickly to get to what they deem a neutral rate, neither depressing nor stimulating economic activity. Investors clearly hope that they prioritize speed.” Chairman Powell has now arrived at “the endgame, when the prospect of success is near at hand but the possibility of failure is at its most dangerous. To save the labor market, the cuts can’t come soon enough.”
Tags: Depressing, Economic activity, Endgame, Failure, Fed, Investors, Labor market, Neutral rate, Powell, Prioritize, Speed, Stimulating, Success, U.S.
Financial Times (August 23)
“Closely watched gauges of long-term inflation expectations in Europe have reached their lowest levels for almost two years, in a sign that investors think central banks can keep lowering interest rates without risking a flare-up in price pressures.” Concerns are also easing in the U.S., with “markets pricing the average long-term inflation rate at 2.4 per cent, down from 2.6 per cent in July.”
Tags: Central banks, Concerns, Easing, Europe, Expectations, Flare up, Inflation, Interest rates, Investors, Price pressures, Risking, U.S.
Investment Week (August 22)
“BlackRock’s support for shareholder proposals on environmental and social issues has plummeted to a new low, now representing less than one-tenth of the backing these proposals received in 2021…. The firm only supported 4% (20 out of 593) of proposals put forward by shareholders on climate and natural capital and company impacts on people.” This marked a significant decline from “the 47% high in 2021, at the height of the ESG investing boom.”
Tags: 2021, BlackRock, Climate, Company impacts, ESG, Investing boom, Natural capital, Plummeted, Shareholder proposals, Support
Washington Post (August 21)
“A looming rail work stoppage in Canada is worrying U.S. businesses and threatening deliveries of cars, timber, petroleum products, grains and other crucial supplies.” A strike would likely prevent “more than 2,500 railcars from crossing the border each day.” Estimates suggest one day of stoppage will “require three to five days for the railroads to recover” so the “consequences of a Canadian rail strike could be far-reaching.”
Tags: Businesses, Canada, Cars, Consequences, Deliveries, Grains, Looming, Petroleum, Railcars, Railroads, Recover, Strike, Timber, U.S., Work stoppage
