Russia under attack by aliens

- A + A CHICAGO (Aug 10): While the outlook for global crops is improving from the tumultuous weeks after Russia's attack on Ukraine, the threats of drought, flooding, and blistering heat are keeping supplies tight and prices elevated. Crop futures have retreated to pre-war levels, and the UN's monthly measure of food prices sank the most since 2008. That is offering some relief to consumers who have faced rampant food inflation since the start of the pandemic. Still, the war is putting more pressure on farmers from the US to India to replace crop losses and make up for the shortfall in supplies from Ukraine, normally a key shipper to poorer nations in the Middle East and Africa. How much they can provide is in question. Major producers like the US, Brazil, and Argentina have been facing yield issues over the last few years thanks to scorching heat, supporting prices at higher levels. Global production of corn and soybeans in 2021-2022 fell short of initial … [Read more...] about Food inflation eases, but uncertain crops slow wider relief

- A + A BEIJING/TAIPEI (Aug 10): China's military has "completed various tasks" around Taiwan but will conduct regular patrols, it said on Wednesday, potentially signalling an end to days of war games but also that Beijing will keep up its pressure on the island. Furious at a visit to Taipei last week by US House Speaker Nancy Pelosi, China extended its largest-ever exercises around the self-ruled island it claims as its own beyond the four days originally scheduled. Last week's drills included launches of ballistic missiles, some of which flew over the island's capital of Taipei, and simulated sea and air attacks in surrounding skies and waters. In a brief statement, the Eastern Theatre Command of the People's Liberation Army said its joint military operations around Taiwan "successfully completed various tasks and effectively tested the integrated combat capabilities of the troops". It added: "Theatre forces will keep an eye on the changes in the situation in … [Read more...] about China military ‘completes tasks’ around Taiwan, plans regular patrols

- A + A LONDON (Aug 10): Benchmark German power prices rose to a record, with an ongoing heat wave and drought set to severely restrict one of Europe's key waterways for shipping energy supplies. The blistering summer heat is adding stress to Europe's energy system while Russia limits exports of gas to the continent. That is set to hit the finances of households and businesses across Europe, a crisis that will only intensify as energy demand rises during winter. Almost every aspect of the power system is contributing to higher prices right now. The latest literal choke point is the Rhine River, which is set to become virtually impassable later this week, cutting supplies of coal to plants that are meant to run more to allow Europe to save its gas. While they can still get the fuel by road or rail transport, it is more expensive to do so. "Low water levels on the Rhine have reduced the ability of these coal power plants to receive sufficient coal to operate at … [Read more...] about German power hits a fresh record as energy crisis heats up

Congress is finally moving this week on the Inflation Reduction Act , a bill that could drive a 40% reduction in carbon emissions over the next decade. But another government arm, the Nuclear Regulatory Commission, made its own (far quieter) news this month when it gave final certification to a new kind of nuclear reactor called a small modular reactor (SMR). While the announcement received basically no fanfare, proponents say it could play an important role in decarbonizing the world’s energy supply. advertisement advertisement The agency first performed a safety review of reactor company NuScale Power’s SMR design in 2020. A year later, the NRC completed its standard rulemaking process, which included a review of public comments. On August 2, the commission issued a final approval for the SMR, though NuScale says it’s unlikely to become operational until 2029. Technically, nuclear power is capable of delivering large amounts of emissions-free … [Read more...] about Small nuclear reactors finally get the nod from regulators, but they still have a lot to prove

Rakesh Jhunjhunwala India’s newest budget airline Akasa Air, backed by ace investor Rakesh Jhunjhunwala , is up and flying. Aviation Minister Jyotiraditya Scindia on August 8 flagged off Akasa Air's first commercial flight that departed from Mumbai for Ahmedabad. Billionaire Jhunjhunwala , also known as "India's Warren Buffett", has teamed up with former chief executives of IndiGo and Jet Airways to tap into the growing domestic air travel in India. Akasa Air received scores of wishes for a successful run but India's aviation climate looks a bit challenging. Jet fuel prices are sky high and the industry is still recovering from the coronavirus blow. The global economic situation is hardly a comfort, as recession fears mount as the Russia-Ukraine war enters its sixth month with little signs of a breakthrough. The breakdown of already tense ties between the US and China, the world’s two biggest economies, over Taiwan couldn’t come at a worse time. Close … [Read more...] about Rakesh Jhunjhunwala: I’m prepared for Akasa’s failure

Donald Trump to Be Deposed Wednesday by New York Attorney General … WSJ Donald Trump is set to be deposed Wednesday by the New York attorney general’s office in its civil-fraud investigation into the financial dealings of the former president and his company. “In New York City tonight,” Mr. Trump wrote on his social-media platform, Truth Social, just after midnight. “Seeing racist N.Y.S. Attorney General tomorrow, for a continuation of the greatest Witch Hunt in U.S. history! My great company, and myself, are being attacked from all sides. Banana Republic!” A spokeswoman for New York Attorney General Letitia James declined to comment. A lawyer for Mr. Trump didn’t respond to a request for comment. Police exodus ‘crisis’: Officers are ditching the job at a rate ‘never seen before’ … FOX NEWS Law enforcement officers are leaving their jobs “at a rate we’ve never seen before,” with some departments seeing decreases by as many as hundreds of members compared to the … [Read more...] about Editor Daily Rundown: Donald Trump to Be Deposed Wednesday by New York Attorney General