Baltic Dry Index. 1002 +21 Brent Crude 75.13
Spot Gold 2938 US 2 Year Yield 4.13 -0.06
US Federal Debt. 36.522 trillion!
Too bad that all the people who know how to run the country are busy driving taxicabs and cutting hair.
George Burns.
In the stock casinos, no rebound Monday as the Trump tariff trade war looms next week. Bunker time.
In the global and US economy, a return of the 1970s stagflation now looks increasingly likely.
Will all the Trump/Musk Federal firings tip the US economy into recession?
Nikkei 225 leads declines in Asia on Trump tariff
woes; gains in Japanese trading houses limit losses
Updated Tue, Feb 25 2025 12:42 AM EST
Asia-Pacific markets traded lower Tuesday
after Wall Street fell overnight as Trump tariffs stoke a risk-off mood, while
investors assessed Bank of Korea’s rate decision.
Japan’s Nikkei 225 led losses in the
region, down more than 1%, while the Topix fell 0.14%. Japan’s major trading
houses, however, logged sharp gains on Warren Buffett’s plans to increase
Berkshire Hathaway’s stake in the conglomerates.
South Korea’s Kospi traded 0.40% lower
while the small-cap Kosdaq fell 0.23%.
South Korea’s central bank expectedly cut rates to 2.75% from 3%, as
it strives to stimulate a slowing economy. The Korean won marginally weakened
to 1,430.1 against the dollar.
South Korea has been facing political
uncertainty, stemming from the impeachment proceedings against President Yoon
Suk Yeol after his short-lived imposition
of martial law in December.
Hong Kong’s Hang Seng Index fell 0.62%
while mainland China’s CSI 300 dipped 0.40% amid escalating trade tensions with
the U.S. The Hang Seng Tech index pared losses to trade flat.
Australia’s S&P/ASX 200 fell 0.80%.
Overnight in the U.S., the markets failed
to spring back from last Friday’s sell-off. The broad market index lost 0.5%,
closing at 5,983.25. The Nasdaq
Composite fell 1.21%, ending the session at 19,286.92. The Dow Jones Industrial Average inched
up 33.19 points, or 0.08%, to close at 43,461.21.
Ongoing concerns about U.S. President
Donald Trump’s trade war with key trading partners continued to weigh on market
sentiment. Trump on Monday declared that tariffs on Canada and Mexico will
be implemented once
the one-month delay period concludes next week.
Asia
markets live updates: Bank of Korea, Hong Kong trade
European markets head for mixed open as lackluster
sentiment spreads
Updated Tue, Feb 25 2025 12:34 AM EST
European stocks are expected to open in
mixed territory Tuesday as a lukewarm mood pervades global markets.
The U.K.’s FTSE 100 index is expected
to open unchanged at 8,637, Germany’s DAX down 29 points at
22,381, France’s CAC 2
points lower at 8,084 and Italy’s FTSE MIB 27 points higher
at 38,542, according to data from IG.
Earnings come from Fresenius Medical Care, Smith & Nephew, Heidelberg Materials and Alcon. On the data front, a more
complete picture of Germany’s fourth-quarter gross domestic product data will
be released on Tuesday.
European stocks traded in mixed territory
at the start of the week as traders reacted to the
results of the German federal election.
The
conservative Christian Democratic Union and the allied Christian Social Union
(CDU/CSU) secured the largest share of votes in the election on Sunday, with
the alliance’s candidate Friedrich Merz set to take over from Olaf Scholz as
chancellor of Europe’s largest economy.
Asia-Pacific
markets traded lower overnight after Wall Street fell Monday as Trump
tariffs stoked a risk-off mood. S&P 500 futures were
near the flatline on Monday evening after the broad market index was unable to
recover from last week’s sell-off.
European markets live updates: stocks, news, data and earnings
In other news, nothing good.
Bank of Korea slashes rates to lowest since August
2022 on economic worries, cuts growth forecast
Published Mon, Feb 24 2025 7:51 PM EST
South Korea’s central bank cut rates by 25 basis points Tuesday to
their lowest since August 2022, as it strives to stimulate a slowing economy.
The Bank of Korea reduced rates to 2.75%
from 3%, in line with expectations from economists polled by Reuters, trimming
them for the third time in four meetings.
The central bank said the decision was
taken to mitigate downward pressure on the economy, forecasting growth to
“decline significantly.”
The BOK cut its 2025 growth outlook to
1.5% from its 1.9% forecast in November, saying that domestic demand recovery
and export growth are likely to be lower than expected due to deteriorating
economic sentiment and U.S. tariff policies.
It acknowledged that concerns about
foreign exchange markets still remain, but added inflation had stabilized while
household debt growth had slowed.
The BOK maintained its 1.9% inflation
forecast for 2025, while the core inflation outlook was lowered to 1.8% from
1.9% in November.
The decision comes as South Korea
continues to grapple with political uncertainty over the impeachment trial of
President Yoon Suk Yeol.
The country’s Constitutional Court
will convene for the final hearing of Yoon’s trial Tuesday,
according to domestic media.
Immediately after the rate decision, the
country’s benchmark Kospi stock
index fell 0.46%, while the South Korean won weakened 0.2% to trade at 1,431.3
against the U.S. dollar.
Speaking to CNBC’s “Squawk Box Asia,” Alex Holmes,
Asia research director at the Economist Intelligence Unit, said he expects the
BOK to cut rates faster rather than slower.
The BOK initially had concerns over financial stability, especially over
reheating the housing market and household
debt, but following the martial law flip-flop by Yoon in December, consumer
and business sentiment in South Korea plunged, shifting the “balance of risks”
toward the economy, Holmes said.
“There’ll be concern now about supporting
the economy and inflation, and these concerns about household debt will
probably take a sort of a bit of a back seat,” he added.
South Korea’s GDP growth
in the fourth quarter missed expectations, clocking its slowest
expansion in six quarters at 1.2%, according to advance estimates. The BOK
attributed the slowdown to weakness in consumption and construction sectors.
More
Bank of Korea slashes rates to lowest since August 2022 on economic worries, cuts growth forecast
Auto
Giant to Cut Another 3,000 Jobs
24
February 2025
German
car parts giant Continental is facing such deep financial troubles that it now
plans to cut an additional 3,000 jobs, on top of the 7,150 layoffs already
announced.
Continental
is one of the largest suppliers to the automotive industry, and the company has
been struggling with ongoing financial difficulties and restructuring.
Earlier
this month, the company confirmed the closure of several factories, resulting
in significant job losses.
According
to Reuters, the company had already announced last year
that 7,150 positions in its automotive division would be cut.
Now,
another 3,000 jobs — mainly in research and development — are on the chopping
block, with about half of these reductions expected to take place in Germany.
Some
of the layoffs may be achieved through natural attrition, such as retirements,
and Continental has entered negotiations with unions to determine how the cuts
will be implemented.
Several
factors have contributed to Continental’s crisis, including the broader
challenges facing the automotive industry. Rising costs, the shift to electric
vehicles, and intense competition—particularly from Chinese manufacturers—have
put significant pressure on suppliers.
Continental
is not alone in making such drastic cuts.
Other
major automotive companies have also announced workforce reductions in response
to changing market conditions. The gearbox manufacturer is set to cut more than
40 billion kroner over the next few years.
The
full impact of Continental’s layoffs on employees and affected communities
remains uncertain. However, the severity of the situation is highlighted by
Audi’s recent decision to withdraw from Belgium. Despite government efforts to
keep the German carmaker in the country, its factory will close by the end of
February, leading to over 3,000 job losses.
Continental
has yet to release a detailed plan on how it will manage the upcoming layoffs.
Auto
Giant to Cut Another 3,000 Jobs
EU Readies Tariff Retaliation Against America
February 24, 2025 at 10:57 PM GMT
The European Union is said to be
broadening the list of US goods it will target with retaliatory tariffs if
President Donald Trump follows through on his threat to impose duties on steel
and aluminum exports. Bloomberg reported on Saturday that the US measures, if enacted,
could impact as much as $29.3 billion of European exports if derivative
products are hit. That would be about four times larger than the last time
Trump went after Europe’s metals sector.
Among the various tariffs Trump has threatened against China,
Canada, Mexico and others over the past month, he announced a series of duties
including 25% tariffs on steel and aluminum exports that he warned could take
effect as soon as March 12. The Republican also has threatened “reciprocal tariffs” based on the policies of partners that
are seen as obstacles to US trade.
Of all the threatened levies, only Trump’s China tariff has actually happened. Nevertheless, the EU has said that it would respond swiftly and proportionally to Trump’s tariffs, should they occur, and could reactivate as a first step the lists of products it previously suspended. European officials have been preparing various targets with different sectors and goods selected with the principle of causing more harm to America, including in sensitive constituencies, if a US-Europe tariff war begins.
---- Starbucks is
eliminating 1,100 corporate jobs, about 7% of the global employee base working outside of
company-owned stores. Chief Executive Officer Brian Niccol, who took over in
September amid declining sales, had announced the impending dismissals in
January. Workers who are being fired will be notified by Tuesday, according to
the company (corporate employees were asked to work remotely the whole week).
Niccol has undone several leadership changes implemented by his
predecessor and doubled down on the company’s return-to-office policy,
warning that staff who didn’t come in three days a week could be fired. Yet
Niccol’s own work arrangement, which allows him to travel from his home in California to
the company’s Seattle headquarters on the company’s corporate jet, garnered
backlash from some workers and outside critics.
EU Readies Tariff Retaliation Against America Over Trump Threats - Bloomberg
Finally.
Huge fire
breaks out at battery recycling centre as 'explosions' heard for miles
23
February 2025
A
massive fire has
erupted in Wythenshawe this morning, with residents witnessing thick smoke
billowing into the sky above the Manchester suburb. Locals have taken to social
media to share footage of an intense orange glow believed to be coming from a
warehouse early this morning.
One
user on X, previously known as Twitter,
described seeing smoke and hearing explosions "popping off" from what
is thought to be a battery recycling plant at the Roundthorn Industrial Estate
in Baguley/Wythenshawe. They posted: "Reports of a huge fire at a battery
recycling facility on the Roundthorn Ind Estate in Baguley/Wythenshawe. Smoke
visible and explosions popping off are audible from Altrincham, 2-3 miles away
and a smell in the air."
Others
in the vicinity have reported hearing
"explosions all morning".
Online
videos show dramatic scenes of black smoke rising high into the air, obscuring
the bright flames beneath. Further images depict emergency services at the
scene, with police vehicles stationed outside the estate.
The
first "explosions" were reportedly heard around 8.30am, shortly
before the smoke was seen emanating from the site, reports the
Mirror.
Huge fire breaks
out at battery recycling centre as 'explosions' heard for miles
One
local, Lisa Baines, said the explosions had alarmed her so much that she
thought Britain might have been going to war with Russia on
Sunday morning. She commented: "Nothing like being woken up on a Sunday
morning by loads of explosions. Thought Putin had come for us."
Wythenshawe fire:
Huge blaze seen for miles as 'popping sound' explosions heard - Mirror Online
Global Inflation/Stagflation/Recession Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
The
Fed is stuck in neutral as it watches how Trump’s policies play out
Published Sun, Feb 23 2025 6:53 AM EST Updated Sun, Feb 23 2025 10:13 AM EST
The
popular narrative among Federal Reserve policymakers these days is that policy
is “well-positioned” to adjust to any upside or downside risks ahead. However,
it might be more accurate to say that policy is stuck in position.
With
an abundance of unknowns swirling through the economy and the halls of
Washington, the only gear the central bank really can be in these days is
neutral as it begins what could be a long wait for certainty on what’s actually
ahead.
“In
recent weeks, we’ve heard not only enthusiasm — particularly from banks, about
possible shifts in tax and regulatory policies — but also widespread
apprehension about future trade and immigration policy,” Atlanta Fed President
Raphael Bostic said in a
blog post.
“These crosscurrents inject still more complexity into policymaking.”
Bostic’s
comments came during an active week for what is known on Wall Street as
“Fedspeak,” or the chatter that happens between policy meetings from
Chair Jerome Powell, central bank
governors and regional presidents.
Officials
who have spoken frequently described policy as “well-positioned” — the language
is now a staple of post-meeting statements. But increasingly, they are
expressing caution about the volatility coming from President Donald
Trump’s aggressive trade
and economic agenda,
as well as other factors that could influence policy.
“Uncertainty”
is an increasingly common theme. In fact, Bostic titled his Thursday blog post
“Uncertainty Calls for Caution, Humility in Policymaking.” A day earlier, the
rate-setting Federal Open Market Committee released minutes from the
Jan. 28-29 meeting, with a dozen references to the uncertain climate in the
document.
The
minutes specifically cited “elevated uncertainty regarding the scope, timing,
and potential economic effects of possible changes to trade, immigration,
fiscal, and regulatory policies.”
Uncertainty
factors into the Fed’s decision making in two ways: the impact that it has on
the employment picture, which has been
relatively stable, and inflation, which has been easing
but could rise again as
consumers and business leaders get spooked about the impact tariffs could have
on prices.
More
The Fed is stuck in neutral as it watches how Trump’s policies play out
Covid-19
Corner
This section will continue until it becomes unneeded.
Another pandemic? What is HKU5-CoV-2, new Covid-like bat virus found in
Wuhan?
FP Explainers • February 24, 2025, 12:48:10 IST
Extensive coronavirus
research has led to the discovery of a new bat virus called HKU5-CoV-2.
According to a new study published in the
medical journal Cell, the new virus can enter human cells using the
same gateway as the virus that causes COVID-19.
Scientists at the Wuhan
Institute of Virology in China have revealed the lineage of the virus and its
potential to transmit from animals to humans, raising global concerns of a
future pandemic.
Here’s all we know about
the new virus.
HKU5-CoV-2
Also known as Bat Virus,
it belongs to the “merbecovirus subgenus,” which is responsible for Middle East
respiratory syndrome (MERS).
The virus was first
detected in the Japanese pipistrelle bat species in Hong Kong and has now been
found to have the ability to bind to a protein called angiotensin-converting
enzyme 2 (ACE2) receptors.
ACE2 is the same gateway
used by the highly contagious SARS-CoV-2, which causes COVID-19. Notably, some
coronaviruses cause mild symptoms in humans, while others can be lethal.
As there are currently no
verified human instances of HKU5-CoV-2, the symptoms are unknown.
However, experts point
out that it’s likely to cause respiratory symptoms similar to COVID-19, such as
fever, cough, shortness of breath, sore throat, body aches and fatigue,
according to The Week.
Transmission
The researchers collected
the HKU5-CoV-2 strain from hundreds of Pipistrellus bats across Guangdong,
Fujian, Zhejiang, Anhui, and Guangxi provinces in China, according to Bloomberg. The
virologist team was led by Shi Zhengil, a renowned virologist often called
“Batwoman,” whose facility faced allegations of its role in the
emergence of SARS-CoV-2.
They tested the newly discovered
germ in test tubes and models of the human gut and airways to investigate its
transmission potential, as per Reuters.
They discovered that a
receptor enzyme on the surface of human cells allowed the spike protein of the
virus to attach to the membrane of those cells.
The feature of this
protein known as a “furin cleavage site” aids in its ability to bind to the
receptor enzyme.
No immediate cause for concern
There’s no immediate
cause for concern because there’s no evidence that the bat virus can
efficiently transmit from person to person.
Notably, bats host a
variety of coronaviruses, including MERS, SARS-CoV-1, and SARS-CoV-2. According
to Bloomberg, which cited a 2021 study, many thousands of
Southeast Asians may contract animal coronaviruses each year, but the majority
of these go undiagnosed since they only cause little or no symptoms.
However, the discovery is
significant because of the potential transmission pathway that is similar to
that of the SARS-CoV-2.
HKU5-CoV-2 can infect
human cells and lung tissues, according to laboratory testing, although it is
much less capable of rapidly spreading among people than SARS-CoV-2.
The study itself noted
that the virus has significantly less binding affinity to human ACE2
than SARS-CoV-2, and other suboptimal factors for human adaptation suggest the
“risk of emergence in human populations should not be exaggerated.”
University of Minnesota
infectious disease expert Dr Michael Osterholm told Reuters the
reaction to the research was “overblown.” He said it was also possible that
increased immunity to similar viruses could help protect the public from
another pandemic.
More
What is HKU5-CoV-2, new Covid-like bat virus that could jump to humans
found in Wuhan? – Firstpost
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section. Updates as they get reported.
Japan
launches revolutionary titanium solar panel, 1000 times stronger
Japan is making waves in the renewable energy sector
with the introduction of a groundbreaking titanium solar panel, poised to
revolutionize sustainable electricity generation. This innovative technology
promises to be 1000 times more powerful than traditional photovoltaic panels,
potentially transforming how we harness and utilize solar energy. The
development emanates from the University of Tokyo, where researchers have
ingeniously combined titanium dioxide and selenium to create an advanced solar
panel that outperforms its silicon-based predecessors. In this article, we will
delve into the specifics of this remarkable breakthrough, exploring its
implications for clean energy production and accessibility.
A Leap Forward in Solar Technology
The race for innovative clean energy solutions has
intensified as global demand for sustainable power rises. Japan’s latest
achievement—a solar panel crafted from titanium—marks a significant milestone
in this endeavor. Unlike conventional solar panels that rely on silicon, these
new titanium-selenium panels boast enhanced efficiency due to an advanced
manufacturing process that optimizes the interaction between materials.
Researchers have made strides in mitigating the adverse effects of tellurium on
selenium structures, resulting in improved adhesion between the layers and
increased energy conversion efficiency.
Understanding Titanium-Selenium Panels
The key innovation lies in how these panels convert
sunlight into electricity. Traditional silicon-based panels have limitations
when it comes to efficiency rates; however, by employing titanium and selenium,
these new panels can generate significantly more electricity under identical
sunlight conditions. This advancement could herald a new era of solar energy,
where households and industries alike can access cleaner power sources at a
fraction of the current costs.
The Role of Advanced Manufacturing Techniques
One of the standout features of this development is the
sophisticated manufacturing techniques employed by Japanese scientists. By
precisely controlling material interactions during production, they have
succeeded in enhancing performance metrics previously thought unattainable with
traditional materials. The reduction of tellurium’s negative impact on selenium
has allowed these innovative layers to work synergistically, significantly
boosting overall efficiency.
The Economic Implications of Titanium Production
Titanium is renowned for its strength and corrosion
resistance but is also notorious for its high production costs, primarily
limiting its use to aerospace and medical applications. However, researchers
are focusing on developing cost-effective methods for extracting titanium from
its ore—a process that could democratize access to this powerful material.
Pioneering Cost-Reduction Strategies
Innovation does not stop at creating efficient solar
panels; it extends into optimizing material costs as well. Researchers are
investigating alternative processes involving yttrium—a lesser-known element
pivotal in various modern technologies—to purify titanium while minimizing
expenses associated with its extraction. Yttrium’s unique properties may
provide a solution that drastically lowers production costs without
compromising quality or performance.
Potential Challenges with Yttrium Integration
Despite its promise, incorporating yttrium into
titanium production is not without challenges. One primary concern is that
yttrium can leave microscopic impurities within the final product, potentially
impacting durability and resistance characteristics crucial for long-term
applications. For widespread adoption and scalability of titanium-based
technologies like solar panels, researchers must find ways to eliminate these
impurities effectively.
The Future of Solar Energy: A New Era?
This revolutionary discovery signals a potential shift
toward a future dominated by efficient clean energy solutions capable of
meeting global demands sustainably. With increasing pressure on industries
worldwide to transition away from fossil fuels amid climate change concerns,
advancements such as Japan’s titanium solar panel could pave the way for mass
adoption of
More
Japan launches
revolutionary titanium solar panel, 1000 times stronger | USA Solar Cell
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt
Clocks (usdebtclock.org)
You can
lead a man to Congress, but you can't make him think.
Milton
Berle.
No comments:
Post a Comment