Written by John Lounsbury
Early Bird Headlines 12 October 2015
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
Global
Asian shares extend October rally; dollar slips (Reuters) Many Asian markets were up modestly in trading Monday and Eirpean markets open with consolidation of last week’s gains. See next article.
Major World Indices (Investing.com) There is a lot of green this morning. Data shown as of 4 am New York time 12 October. For latest data click on chart.
After Intelligent Life Is Discovered (The Atlantic) Verification of any signal from alien intelligent life is a tricky problem. And what if they are so “smart” that we can’t understand them? Could we end up rejecting intelligent communication as random noise because of our limited mental capacities?
El Niño could leave 4 million people in Pacific without food or drinking water (The Guardian) Papua New Guinea drought has already claimed two dozen lives and looming El Niño weather pattern could be as severe as in 1997-98, when 23,000 people died. For updates, follow Sig Silber’s in-depth weekly review of global weather at GEI every Tuesday morning.
Cold ‘Blob’ in North Atlantic Ocean May Affect Weather in Europe, Eastern US (AccuWeather, MSN Weather) A cold area in the North Atlantic produced by melting Greenland ice has developed over recent years and could affect weather and climate in North America and Europe, and even northwest Africa, for years to come. The Gulf stream which brings temperature moderation and moisture along its path is being weakened and deflected to the south leaving coastal North America, especially north of Cape Cod, and much of Europe exposed to significantly colder late winter and spring temperatures compared to recent centuries due to the strengthening of the cold Labrador current. Scientists suggest the effect may not be as strong during summer and autumn months. For updates, follow Sig Silber’s in-depth weekly review of global weather at GEI every Tuesday morning.
U.S.
Where to Stash Cannabis Cash? Tribal Nations Make Bid to Bank It (Bloomberg News) Marijuana is legal in Colorado but the banks are subject to federal regulations and banking money from the trade is illegal. A solution is proposed by Native Americans: an American Indian banking system.
Exclusive: EMC to shop itself after deal with Dell – sources (Reuters) The computer storage company is close to a deal to be acquired by Dell is still planning to seek out other suitors.
UK
Glencore looks to sell Australia and Chile assets (Financial Times) Glencore has fired the starting gun on a sales process for two copper assets after the miner-cum-trader was approached by several suitors. The two mines are the Cobar mine in Australia and Lomas Bayas in Chile. The mines were not included in the $2bn of assets sales flagged by the company in its wide-ranging debt reduction plan announced last month. Any proceeds would be incremental to that target. A person said Glencore would abandon the sale process if it did not receive an attractive offer.
London to become a place ‘we work but don’t live’ (The Telegraph) The exodus of homebuyers from London hits epic new levels as natives and newcomers alike cannot afford the high prices. Families and young workers who are in rental accommodation in London, but looking to buy their first home, are leaving the capital in droves. But as they leave London they carry hopuse price inflation with them, spreading like a modern plague. See England’s most desirable (and expensive) market towns.
Turkey
Turkey May Find Life Without Russian Gas Easier Said Than Done (Bloomberg) Russian gas keeps the lights on in Turkey. Over the centuries, the two nations have been sworn enemies yet also pragmatic neighbors able to set aside their mutual mistrust when economic interests were on the line. That is why President Recep Tayyip Erdogan’s threats to break trade ties over Vladimir Putin’s escalating military campaign in Syria ring hollow.
Syria
Syrian troops make gains as Putin defends air strikes (Al Jazeera) Troops make advances in central Syria as Russian president says intervention will aid efforts for political settlement.
Syrian rebels decry Russian airstrikes: ‘we have not had Isis here in over a year’ (The Guardian) Residents in areas hit by Russian airstrikes describe widespread destruction of civic buildings and housing while Free Syrian Army largely shelters itself. The rebels complain that the U.S. is denying them anti-aircraft missiles.
Syria crisis: The West wrings its hands in horror but it was our folly that helped create this bloodbath (The Independent) Hat tips to Roger Erickson and Chuck Spinney. Irish journalist Patrick Cockburn reviews the wishful thinking that created a catastrophe. Reaction (or lack of reaction?) to Russia’s military intervention in Syria shows that the lack of knowledge of the Syrian political landscape on the part of Western political leaders and media is hindering the adoption of more constructive policies. The West has viewed the solution to be the removal of President Bashar al-Assad; in fact that event would probably just make the situation worse.
Saudi Arabia
The West rightly condemns Isis vandalism of ancient sites – but not when the Saudis do it (The Independent) The Saudi government has been the poster child for destruction of historic sites but that is ignored by those condemning ISIS.
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