Baltic
Dry Index. 1378 -10 Brent Crude 73.10
Spot
Gold 2737 U S 2 Year Yield 4.21 +0.05
Paul Johnson, director of the Institute for Fiscal Studies (IFS)
said the Chancellor had “front loaded” calculations around additional spending
in her Budget and
it was likely that they “will in fact increase more quickly than supposedly
planned after next year”.
“I’m afraid this looks like the same silly games playing as we
got used to with the last lot,” he said at the IFS’s breakdown of the Budget
today. “Pencil in implausibly low spending increases for the future in order to
make the fiscal arithmetic balance.”
Reeves playing
‘same silly games’ as her predecessors, IFS says
In
the US stock casinos ahead of next Tuesday’s US elections, fantasy and rigging.
In
the real US economy, a dire US jobs report.
Dow
closes nearly 300 points higher to begin November as investors shake off weak
jobs report: Live updates
Updated
Fri, Nov 1 2024 5:15 PM EDT
Stocks
rallied Friday to kick off November as Amazon led big technology stocks into
the green and traders looked past a disappointing jobs report.
The Dow Jones Industrial Average gained
288.73 points, or 0.69%, ending at 42,052.19. The S&P 500 advanced 0.41% to
close at 5,728.80, and the Nasdaq
Composite rose 0.8% to 18,239.92.
Amazon rallied 6.2% as
strength in the cloud and advertising businesses propelled the e-commerce
giant above Wall
Street’s earnings expectations. Intel popped 7.8%
after exceeding analysts’ forecasts for revenue and offering strong guidance.
The two stocks helped lift investor sentiment following some notable earnings
disappointments this week.
Megacap
tech stocks are still “the tail wagging the dog,” said Rob Williams, chief
investment strategist at Sage Advisory. “You’re seeing some broadening, but
it’s still such a massive component right now.”
Meanwhile,
the jobs
report released Friday showed the U.S. economy added just 12,000 jobs
in October, far below the Dow Jones estimate of 100,000. This marked the
weakest level of jobs creation since December 2020. The unemployment rate held
at 4.1%, in line with estimates. However, traders were not reacting too much to
the jobs figures, believing the dismal data was affected by hurricanes and a
Boeing strike.
“Friday’s
jobs report showed that the labor market decelerated quite significantly in
October compared to September,” said Clark Bellin, president and chief
investment officer at Bellwether Wealth. “But this was a noisy number largely
due to hurricanes and labor strikes, so it’s unlikely that this weakness is
going to cause the Federal Reserve to pivot away from its expected 25 basis
point rate cut at the November meeting.”
In
addition to the U.S. presidential election on Nov. 5., which has led to
elevated volatility, investors are also looking toward the Fed’s two-day policy
meeting on Nov. 6-7.
The
major averages are wrapping up a choppy week. The S&P 500 lost 1.4% in the
period, while the Nasdaq slid 1.5%. Postearnings slumps in Microsoft and Meta Platforms weighed on the
indexes. The 30-stock Dow inched down 0.2% week to date.
The
strong start to November comes after a difficult October for the market. The
30-stock Dow pulled back 1.3% in October. The broad market index fell 1% in
that time, while the Nasdaq dropped 0.5%.
Stock
market news for November 1, 2024
Nvidia
to join Dow Jones Industrial Average, replacing rival chipmaker Intel
Published
Fri, Nov 1 2024 5:22 PM EDT Updated Fri, Nov 1 2024 6:01 PM EDT
Nvidia is replacing rival
chipmaker Intel in
the Dow Jones Industrial Average, a shakeup to the blue-chip index that
reflects the boom in artificial intelligence and a major shift in the
semiconductor industry.
Intel
shares were down 1% in extended trading on Friday. Nvidia shares rose 1%.
The
switch will take place on Nov. 8. Also, Sherwin Williams will
replace Dow Inc. in the
index, S&P Dow Jones said in a statement.
Nvidia
shares have climbed over 170% so far in 2024 after jumping roughly 240% last
year, as investors have rushed to get a piece of the AI chipmaker. Nvidia’s
market cap has swelled to $3.3 trillion, second only to Apple among publicly traded
companies.
Companies
including Microsoft, Meta, Google and Amazon are purchasing
Nvidia’s graphics processing units (GPUs), such as the H100, in massive
quantities to build clusters of computers for their AI work. Nvidia’s revenue
has more than doubled in each of the past five quarters, and has at least
tripled in three of them. The company has sginaled that demand for its
next-generation AI GPU called Blackwell is “insane.”
With
the addition of Nvidia, four of the six trillion-dollar tech companies are now
in the index. The two not in the Dow are Alphabet and Meta.
While
Nvidia has been soaring, Intel has been slumping. Long the dominant maker of PC
chips, Intel has lost market share to Advanced Micro Devices and has
made very little headway in AI. Intel shares have fallen by more than half this
year as the company struggles with manufacturing challenges and new competition
for its central processors.
Intel
said in a filing this week that the board’s audit and finance
committee approved cost and capital reduction activities, including lowering
head count by 16,500 employees and reducing its real estate footprint. The job
cuts were originally announced in
August.
The
Dow contains 30 components and is weighted by the share price of the individual
stocks instead of total market value. Nvidia put itself in better position to
join the index in May, when the company announced a 10-for-1
stock split. While doing nothing to its market cap, the move slashed the
price of each share by 90%, allowing the company to become a part of the Dow
without having too heavy a weighting.
The
switch is the first change to the index since February, when Amazon replaced Walgreens Boots Alliance. Over the
years, the Dow has been playing catchup in gaining exposure to the largest
technology companies. The stocks in the index are chosen by a committee from
S&P Dow Jones Indices.
Nvidia
to join Dow Jones Industrial Average, replacing Intel
Reality.
Super
Micro’s 45% plunge this week wipes out stock’s gains for the year
Published
Fri, Nov 1 2024 1:37 PM EDT Updated Fri, Nov 1 2024 4:15 PM EDT
Super Micro investors
continued to rush the exits on Friday, pushing the stock down another 11% and
bringing this week’s sell-off to 45%, after the data center company lost its
second auditor in less than two years.
The
company’s shares closed at $26.05, wiping out all of the gains for 2024. The
stock had peaked at $118.81 in March, at which point it was up more than
fourfold for the year. Earlier that month, S&P Dow Jones added
the stock to the S&P 500, and Wall Street was rallying around the
company’s growth, driven by sales of servers packed with Nvidia’s artificial intelligence processors.
Super
Micro’s spectacular
collapse since March has wiped out roughly $55 billion in market cap
and left the company at risk of being delisted from the Nasdaq. On Wednesday,
as the stock was in the midst of its second-worst
day ever, Super Micro said it will provide a “business update” regarding its
latest quarter on Tuesday, which is Election Day in the U.S.
The
company’s recent challenges date back to August, when Super Micro said it would
not file its annual report on time with the SEC. Noted short seller
Hindenburg Research then disclosed a short position in the company and wrote in
a report that it identified “fresh evidence of accounting manipulation.” The
Wall Street Journal later reported that the Department of Justice was in
the early stages of a probe into the company.
Super
Micro disclosed Wednesday that Ernst & Young had resigned as its accounting
firm just 17 months after taking over from Deloitte & Touche. The auditor
said it was “unwilling to be associated with the financial statements prepared
by management.”
A
Super Micro spokesperson told CNBC that the company “disagrees with E&Y’s
decision to resign, and we are working diligently to select new auditors.”
Super Micro does not expect matters raised by Ernst & Young to “result in
any restatements of its quarterly financial results for the fiscal year ended
June 30, 2024, or for prior fiscal years,” the representative said.
Analysts
at Argus Research on Thursday downgraded the stock in the intermediate term to
a hold, citing the Hindenburg note, reports of the Justice Department
investigation and the departure of Super Micro’s accounting firm, which the
analysts called a “serious matter.” Argus’ fears go beyond accounting
irregularities, with the firm suggesting that the company may be doing business
with problematic entities.
“The
DoJ’s concerns, in our view, may be mainly about related-party transactions and
about SMCI products ending up in the hands of sanctioned Russian companies,”
the analysts wrote.
In
September, the month after announcing its filing delay, Super Micro said it had received a notification from
the Nasdaq indicating that its late status meant the company wasn’t in
compliance with the exchange’s listing rules. Super Micro said the Nasdaq’s
rules allowed the company 60 days to file its report or submit a plan to regain
compliance. Based on that timeframe, the deadline would be mid-November.
More
Super Micro's 45% plunge this week wipes out stock's gain for the year
Finally,
is the US jobs market already rolling over?
U.S.
economy added just 12,000 jobs in October, impacted by hurricanes, Boeing
strike
Published
Fri, Nov 1 2024 8:31 AM EDT
Job
creation in October slowed to its weakest pace since late 2020 as the impacts
of storms in the Southeast and a significant labor impasse dented the
employment picture.
Nonfarm
payrolls increased by 12,000 for the month, down sharply from September and
below the Dow Jones estimate for 100,000, the Bureau of Labor
Statistics reported
Friday. In what had already been expected to be a downbeat report, October
posted the smallest gain since December 2020.
The
unemployment rate, however, held at 4.1%, in line with expectations. A broader
measure of unemployment that includes discouraged workers and those holding
part-time jobs for economic reasons also was unchanged at 7.7%.
In
the report narrative, the BLS noted that the Boeing strike likely
subtracted 44,000 jobs in the manufacturing sector, which lost 46,000 positions
overall.
Along
with that, the report noted the impact of hurricanes Helene and Milton but said
“it is not possible to quantify the net effect” of the storms on the jobs
total.
Elsewhere,
the bureau said average hourly earnings increased 0.4% for the month, slightly
higher than the estimate, though the 4% 12-month gain was in line. The average
workweek held steady at 34.3 hours.
Markets,
though, largely ignored the bad news, with stock market
futures poised
for a strong open on Wall Street while Treasury yields plunged. The meager jobs
numbers along with wages about in line with expectations help cement another
interest rate cut from the Federal Reserve next week.
“At
first glance, October’s jobs report paints a picture of growing fragility in
the U.S. labor market, but under the surface is a muddy report roiled by
climate and labor disruptions,” said Cory Stahle, an economist at the Indeed
Hiring Lab. “While the impacts of these events are real and should not be
ignored, they are likely temporary and not a signal of a collapsing job
market.”
----The
weak October report also included substantial downward revisions from previous
months. August was cut to just a gain of 78,000 while September’s initial
estimate came down to 223,000. Together, the net revisions lowered previously
reported job creation totals by 112,000.
Health
care and government again led job creation, respectively adding 52,000 and
40,000 positions. Several sectors, though, saw job losses.
In
addition to the expected pullback in manufacturing, temporary help services saw
a drop of 49,000. The category is sometimes seen as a proxy for underlying job
strength and has seen a decline of 577,000 since March 2022, the BLS said.
Another
leading sector, leisure and hospitality, saw a drop of 4,000, while retail
trade and transportation and warehousing also reported modest declines.
In
the household survey, which is used to calculate the unemployment rate, the
hiring numbers were even weaker.
That
showed 368,000 fewer people reported holding jobs and the labor force
contracting by 220,000. Full-time employment declined by 164,000, while
part-timers fell by 227,000.
More
U.S. jobs report
October 2024: Economy added 12,000 jobs, impacted by hurricanes, Boeing strike
Layoffs
Surge In U.S. White-Collar Jobs As Rates, AI Alter Office Work
Nov.
01, 2024 3:40 AM ET
One
in every four American workers who have lost their jobs this year worked in
professional and business services, a sign that the white-collar labor market
may be straining under the weight of high interest rates and that
technological advances may already be making some workers obsolete.
In
September, employers shed 497,000 professional and business services jobs -
which includes accountants, consultants and legal workers - the highest for the
group in nearly two years and more than any other sector during the month,
according to Bureau of Labor Statistics data released Oct. 29.
Through
the first nine months of 2024, professional and business service sector jobs
accounted for more than 3.7 million of the nearly 14.9 million layoffs and
discharges in the US.
While
the exact causes of these job cuts remain unclear, it could reflect a cyclical
weakness sparked by higher interest rates and overall restrictive monetary
policy hindering investment and employment.
It
may also reflect more structural changes, with the rising number of layoffs and
stalling growth in the sector potentially connected to new technologies, such
as generative artificial intelligence, replacing white-collar workers and
improving productivity with a smaller number of employees, said Julia Pollak,
chief economist at ZipRecruiter.
"If
those trends stick in the coming months, even as interest rates fall and
activity in various markets revives, that could be evidence in support of the
theory that the economy is fundamentally changing due to new
technologies," Pollak said.
The
overall number of Americans employed in the professional and business services
sector ballooned by nearly 3.8 million from April 2020 to over 22.9 million in
April 2024, but growth has largely stagnated since, peaking just below 23
million in May 2024, where it has essentially stalled.
"While
it is still well above the pre-COVID level, it is now clearly below the
pre-COVID trend," Pollak said.
As
growth has stalled, hiring in the sector has flattened, and layoffs and
discharges have begun to climb. The 497,000 layoffs and discharges in September
were the most for the sector since January 2023.
The
professional and business services sector includes temporary help services and
staffing firms that have seen a pullback in recent months and often see dynamic
labor turnover, said Cory Stahle, an economist with Indeed Hiring Lab.
Overall,
the jobs data shows a clear trend of cooling and rebalancing as job openings
have fallen steeply from their peak in late 2021, Stahle said.
"That
large peak gave the Federal Reserve a cushion to work with, but that is nearly
spent," Stahle said. "The labor market is still relatively solid, but
we are at a point where further cooling could become more worrisome and start
impacting unemployment."
There
were 7.4 million job openings in the US in September, the lowest number of
openings since January 2021, the new data shows.
More
Layoffs Surge In U.S. White-Collar Jobs As Rates, AI Alter Office Work | Seeking Alpha
Global Inflation/Stagflation/Recession
Watch.
Given our Magic Money
Tree central banksters and our spendthrift politicians, inflation/recession now needs an entire
section of its own.
Retail
footfall returns to downward trend after September spike
Friday 01 November 2024 6:00 am
After a brief rise in September, retail footfall has
fallen again in October, as the number of feet on Britain’s streets returns to
its downward trend.
Total UK footfall decreased by 1.1 per cent year on
year in October, down from a rise of 3.3 per cent in September.
“While this will be disappointing for many
retailers… it perhaps shouldn’t come as a surprise,” Andy Sumpter, Retail
Consultant EMEA for Sensormatic, said.
“We expect to see a bumpy recovery as a myriad of
market conditions – from the cost of living to shaky consumer confidence around
the Budget – continue to make footfall performance volatile,” Sumpter added.
Consumer confidence had dipped ahead of the budget as Brits worried about
potential increases to their tax bill. As it is,
the only rise in tax which will affect most Brits – albeit indirectly – is the
1.2 per cent rise in employer national insurance contributions (NICs).
However, depending on who ends up paying for the tax, it could leave retail employers out of pocket.
MRI software found a similar dip in September, with
their slightly softer figures showing a 0.6 per cent year on year drop in all
UK retail destinations, led by a 0.8 per cent decline in high streets and 1.5
per cent in shopping centres. Retail parks saw footfall rise by 0.8 per cent.
Half-term
move impacts footfall
The figures may not be as bad as they seem, with the
year-on-year drop partially due to a shift in the school half term holidays,
which this year spanned the final week of October and the first week of
November. Last week, the holidays fell within the October reporting period.
Helen Dickinson, chief executive of the British
Retail Consortium, said: “October’s footfall figures showed a marginal decline
compared to last year, primarily due to half-term moving out of the
comparison.”
On a more positive note, Dickinson added that
“retail parks continued to attract shoppers, as they saw positive footfall
growth for the third consecutive month, [and] across England, the northern
towns performed best, with Leeds and Liverpool seeing positive footfall last
month.”
Plus, with Black Friday less than a month away and
Christmas soon after that, retail stores and destinations are likely to see
footfall rise as we head into November.
Retail footfall returns to downward trend after September spike
European
Inflation Leaves ECB Rate Hawks Circling
October 31, 2024 at 6:07 PM GMT
Europeans are still feeling the pinch at grocery
markets as food prices continue to surge. Inflation accelerated more than expected among the 20 countries that use the euro, bolstering the case of
hawkish European Central Bank members who want to see only a gradual easing of
credit conditions. Consumer prices rose 2% from a year ago in October, up from
1.7% the previous month and exceeding analysts’ estimates for a 1.9% increase,
Eurostat reported today. A smaller decline in energy costs was a major driver
behind the sticky inflation numbers, as was a 2.9% increase in the price for
food. With new economic dangers looming, from widening wars to the potential
return of Donald Trump,rates may be cut more slowly than some
Europeans would like.
Rumbling
bond giants began to digest the UK’s new budget presented by Chancellor of the Exchequer Rachel Reeves. Fund managers are
weighing a package that points to substantially steeper government borrowing in
the coming years, along with higher-than-expected inflation and growth
forecasts. Bonds were whiplashed today as investors attempted to make sense of the ramifications and what
it all means for monetary policy.
European Inflation Leaves ECB Interest Rate Hawks Circling - Bloomberg
Concerns
growing at Wolfsburg amid crisis at owners Volkswagen
31 October 2024
Concerns are growing at VfL Wolfsburg amid the
crisis at owners and German carmakers Volkswagen.
According to local newspapers, there's a major
feeling of uncertainty among the club employees, while comments on the
Volkswagen's intranet have questioned why the company can still afford "an
expensive toy" like Wolfsburg, while thousands of jobs are under threat.
The firm's works council told VW employees at an
event on Monday that the company intends to close at least three of its 10
plants in Germany and cut tens of thousands of jobs.
Mass lay-offs are planned as all remaining VW plants
in Germany will be downsized under the plan from management.
Wolfsburg said in a statement that the club "is
gearing its daily actions towards making a contribution to VW's major savings
program."
“As a subsidiary of Volkswagen, it has always been
our aim to use the resources made available to us efficiently and
cost-effectively,” the statement read.
The relationship between Wolfsburg and VW is
essentially based on two agreements.
A control and profit transfer agreement stipulates
that the club must pass on all profits to its parent company if it sells a
player. That was the case when Kevin De Bruyne was sold to Manchester City for
€75 million ($81.5 million).
Conversely, VW also compensates Wolfsburg for all
losses - as in the coronavirus pandemic or after particularly unsuccessful
years.
The financial support from VW also comes in other
forms, such as jersey advertising and the stadium's naming rights. Ahead of
this season, the contributions amounted to almost €80 million.
The future of the relationship between Wolfsburg and
VW amid the company's financial crisis is unclear, but the club has already
changed its strategy, adopting measures such as primarily signing young players
to develop them and sell them on at a high price.
Wolfsburg, like Bayer Leverkusen, who are owned by
pharmaceutical giants Bayer, are granted a special exception from the 50+1 rule
in German football.
The rule states that no shareholder can have more
than 50% control of a professional German team.
Concerns growing at Wolfsburg amid crisis at owners Volkswagen
Covid-19
Corner
This section will
continue until it becomes unneeded.
More boosting of big
pharma vaccines but no mention of boosting your vitamin D.
How to tell the difference between Covid, flu and
RSV amid 'tripledemic' threat
It's important to get
vaccinated and know the differences between each illness and its symptoms
18:10, 31 OCT 2024
With the arrival of colder temperatures, concerns
are growing that a 'tripledemic' may be approaching with a potential surge in
cases of Covid-19, flu and respiratory syncytial virus (RSV).
Health officials in Northern Ireland say flu and RSV
activity continues to increase along with Covid. That's why it's important to get vaccinated and
know the differences between each illness and its symptoms.
Recent data from UKHSA revealed that during the
last two winters, there have been at least 18,000 flu-related deaths and more
than 19,500 deaths linked to Covid-19 across the country.
Earlier this month it was confirmed that the highly
transmissible new Covid XEC variant has been detected
here in NI. According to the Public Health Agency, this latest strain, which is a combination of the KS.1.1 and KP.3.3
variants, is thought to be more transmissible due to its numerous mutations. .
The most common variant at this time is KP.3.
It's thought to be so contagious due to the number
of mutations it carries with experts believing it could become the dominant
strain. It's thought to be responsible for around one in 10 cases of the virus
in the UK.
The PHA has integrated influenza, RSV and Covid-19
epidemiology reporting into a new respiratory surveillance report to
provide a single overview of these infections in NI, along with the number of
care home outbreaks, hospital admissions and occupancy, and deaths.
In its latest respiratory surveillance report up to
30th October, the PHA said flu and RSV activity continued to increase across
the majority of surveillance indicators while Covid increased across some
surveillance indicators.
Of the 91 community-acquired emergency hospital
admissions, 27 were Flu A, four Flu B, 33 were RSV and 27 were Covid. Community
acquired emergency influenza and RSV inpatients increased but remains at low
levels and there has been a stable trend in the number of community acquired
emergency Covid inpatients in recent weeks.
Meanwhile 73 respiratory-associated deaths out of
326 all-cause deaths were reported (23.4%). In the week ending 18th October, 12
Covid-19 deaths out of 316 all-cause deaths were reported (3.2%).
Flu season typically reaches its highest point in
December and January.
More
How to tell the difference between Covid, flu and RSV amid 'tripledemic'
threat - Belfast Live
Technology Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
Next-generation perovskite solar cell can absorb near-infrared
light beyond the existing visible light range
1 November 2024
xisting perovskite solar cells, which
are unable to utilize approximately 52% of total solar energy, have been
improved upon by a Korean research team. The team has developed an innovative
technology that maximizes near-infrared light capture performance while greatly
improving power conversion efficiency. This greatly increases the possibility
of commercializing next-generation solar cells and is expected to contribute to
important technological advancements in the global solar cell market.
The research team of Professor Jung-Yong
Lee of the School of Electrical Engineering at KAIST and Professor Woojae Kim
of the Department of Chemistry at Yonsei University announced on October 31
that they have developed a high-efficiency and high-stability organic-inorganic
hybrid solar cell production technology that maximizes near-infrared light
capture beyond the existing visible light range. Their study is published in
the journal Advanced Materials.
The research team suggested and advanced
a hybrid next-generation device structure with organic photo-semiconductors to
complement perovskite materials limited to visible light absorption and expand
the absorption range to near-infrared.
In addition, the researchers examined
the electronic structure problem that mainly occurs in the structure and
announced a high-performance solar cell device that dramatically solves this
problem by introducing a dipole layer.
Existing lead-based perovskite solar
cells have a problem in that their absorption spectrum is limited to the
visible light region with a wavelength of 850 nanometers (nm) or less, which
prevents them from utilizing approximately 52% of the total solar energy.
To solve this problem, the research team
designed a hybrid device that combined an organic bulk heterojunction (BHJ)
with perovskite and implemented a solar cell that can absorb up to the
near-infrared region.
In particular, by introducing a
sub-nanometer dipole interface layer, they succeeded in alleviating the energy
barrier between the perovskite and the organic bulk heterojunction (BHJ),
suppressing charge accumulation, maximizing the contribution to the near-infrared,
and improving the current density (JSC) to 4.9 mA/cm2.
The key achievement of this study is
that the power conversion efficiency (PCE) of the hybrid device has been
significantly increased from 20.4% to 24.0%. In particular, this study achieved
a higher internal quantum efficiency (IQE) than previous studies, reaching 78%
in the near-infrared region.
In addition, this device showed high
stability, showing excellent results of maintaining more than 80% of the
initial efficiency in the maximum output tracking for more than 800 hours even
under extreme humidity conditions.
Professor Lee said, "Through this
study, we have effectively solved the charge accumulation and energy band
mismatch problems faced by existing perovskite/organic hybrid solar cells, and
we will be able to significantly improve the power conversion efficiency while
maximizing the near-infrared light capture performance, which will be a new
breakthrough that can solve the mechanical-chemical stability problems of
existing perovskites and overcome the optical limitations."
More information: Min‐Ho
Lee et al, Suppressing Hole Accumulation Through Sub‐Nanometer Dipole
Interfaces in Hybrid Perovskite/Organic Solar Cells for Boosting Near‐Infrared
Photon Harvesting, Advanced Materials (2024). DOI: 10.1002/adma.202411015
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks (usdebtclock.org)
This
weekend’s music diversion. The Polish Great, Antoni Habel. Approx. 5 minutes.
Sinfonia
in F Major: I. Allegro molto
Sinfonia in F
Major: I. Allegro molto
Antoni
Habel
Antoni Habel -
Wikipedia, the free encyclopedia
This
weekend’s chess update. Approx. 10 minutes.
Fabiano
Caruana vs Garry Kasparov || Chess 9LX 2024
Fabiano Caruana vs
Garry Kasparov || Chess 9LX 2024
This
weekend’s final, final technical diversion,. My thanks to Richard in Canada for
sending it along. The US river transportation system explained. Approx. 22 minutes.
How
Inland Waterways Work
How Inland
Waterways Work - YouTube
The
incredible [EU] 61-mile-long ‘mini-Suez' canal that shields ships and goods
from storms
27
October, 2024
Europe is home to
its very own mini-Suez Canal that has been operating for over 100
years and sees as many as 130 ships every day.
The
Kiel Canal, a 61-mile freshwater canal in the German state of
Schleswig-Holstein, was completed in 1895 and later widened. It connects the
North Sea at Brunsbuttel to the Baltic Sea at Kiel-Holtenau.
More
The incredible
61-mile-long ‘mini-Suez' canal that shields ships and goods from storms
This
weekend’s final diversion. How HMS
Dreadnought changed naval warfare for 40 years. Approx. 24 minutes.
How
This Battleship Changed History | The Design of HMS Dreadnought
How This
Battleship Changed History | The Design of HMS Dreadnought
As a matter of fact, capitalist economy is not and cannot be
stationary. Nor is it merely expanding in a steady manner. It is incessantly
being revolutionized from within by new enterprise, i.e., by the intrusion of
new commodities or new methods of production or new commercial opportunities
into the industrial structure as it exists at any moment.
Joseph A. Schumpeter.
