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04.05.26 - 13:00
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UK food prices on track to rise by 50% since start of cost of living crisis (The Guardian)
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Beef and olive oil costs increase the most as climate and energy shocks drive inflation, research suggestsFood prices are on track to be 50% higher in November than at the start of the cost of living crisis in 2021, new research suggests.Climate and energy shocks have driven an almost quadrupling of the pace of food price growth, according to new research from the thinktank Energy and Climate Intelligence Unit (ECIU), with costs rising in five years at about the same rate as they had over the previous two decades. Continue reading......
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04.05.26 - 10:31
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How Baltimore′s Mayor Is Fighting the City′s Vacant Housing Crisis | Odd Lots (Bloomberg)
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Since Mayor Brandon Scott first took office in 2020, he's fixated on a very visible problem in Baltimore: the tens of thousands of vacant homes that dot the city. It's hard to build new houses when there are so many that sit empty and unused. And the process of tracking down owners, convincing them to sell their vacant properties, and then converting those homes into usable housing supply is a tall task. In the last few years, the number of vacant homes in Baltimore has dropped from 16,000 to just over 11,800. On this episode — recorded in Madrid while we attended the Bloomberg CityLab conference — we speak to Mayor Scott about deindustrialization, redlining, and gun violence's historical effects on the current housing crisis, how his government identifies, block-by-block, redevelopment opportunities and matches projects with publicly-minded developers, and why Baltimore natives aren't huge fans of The Wire. (Source: Bloomberg)...
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04.05.26 - 10:30
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Energy crisis showcases strengths of China′s data centre market (SCMP)
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Earlier this year, Nvidia CEO Jensen Huang likened artificial intelligence (AI) to “a five-layer cake”. At the top are applications, such as chatbots. The layer below is the software, which includes language models. Further down are infrastructure and memory chips.
The bottom layer is the most important. “At the foundation is energy,” Huang said, noting that “energy is the first principle of AI infrastructure and the binding constraint on how much intelligence the system can produce”.
Driving......
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04.05.26 - 10:12
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Could Iran′s escalating economic crisis weaken negotiating position with US? (The Guardian)
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War has combined with battered economy to leave Tehran wondering how hardline it can afford to beIran may not be choking like a stuffed pig as Donald Trump predicted, but its economy is in serious difficulty as a combination of a massive war-damages bill, inflation, currency devaluation, unemployment and a contraction in oil revenues combine to leave the political elite worrying how hardline they can afford to be with their US negotiators. One estimate circulating in Iran's media suggests the damage to the economy from the US-Israeli attacks is nine times the value of the Iranian budget last year.The UN Development Programme has estimated that 4.1 million more Iranians could fall into poverty. Continue reading......
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04.05.26 - 04:18
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Hong Kong Exchange Fund records smallest gain in 5 quarters amid Middle East crisis (SCMP)
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Hong Kong's Exchange Fund, the war chest used to defend the local currency, reported its smallest investment gain in five quarters as the Middle East crisis weighed on stock market performance.
The fund gained HK$34.5 billion (US$4.4 billion) in the first quarter, 56 per cent lower than HK$79.2 billion a year earlier, according to data released by the Hong Kong Monetary Authority (HKMA) on Monday. The fund still managed to report its fifth consecutive quarterly gain, but it was the smallest gain......
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