An index compiled monthly by the United Nations surpassed its previous monthly high – June 2008 – in December to reach the highest level since records began in 1990. Published by the Rome-based Food and Agriculture Organisation (FAO), the index tracks the prices of a basket of cereals, oilseeds, dairy, meat and sugar, and has risen for six consecutive months. … [Read more...] about World food prices enter ‘danger territory’ to reach record high
Matthew Page worked for the US State Department in Nigeria for 15 years. He told the BBC: "At a time when Shell should have been cautious having just settled a previous case, rather than walk away from a deal with clear corruption risks, they doubled down." … [Read more...] about Shell corruption probe: New evidence on oil payments
At $10 a barrel, oil companies were in profit; at around $130, they are rolling in unearned cash. We advocate a version of the Norwegian approach, establishing an Oil Legacy Fund, paid for by a windfall tax on the profits of energy companies. The monies raised would help deal with the effects of climate change and smooth the transition to a low-carbon economy. Norway built up its oil surpluses to weave a safety net that at the last count was worth around £198bn. … [Read more...] about A Green New Deal for our times
Coronavirus: Timeline of the deadly virus in China and worldwide Wuhan evacuees arrive in Germany On February 1, 124 people including 102 Germans arrive at Frankfurt airport after being evacuated from Wuhan, the epicenter of the virus, on a German Air Force flight. The evacuees are taken to military barracks in Germersheim where they are set to be quarantined for 14 days. At least two of the evacuees are said to be infected with the new virus. … [Read more...] about China coronavirus cases pass 70,500 as WHO mission gets underway
The recent threat of a global financial meltdown stoked the long-term bond buying frenzy in two ways: First, it led to a rush for the safest investments in the world. Some safe-haven investments - like German government bonds - became so popular people were prepared to accept a negative return (essentially paying £11 for a £10 note) knowing that if the proverbial really hit the fan they at least trusted the German government to give them most of their money back. … [Read more...] about Are we headed for a bond market bloodbath?