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Research suggests that the shallow, warm waters of the Persian Gulf may soon see tropical cyclones, a side effect of climate change.
Investors are unnerved by fresh surveys showing China’s manufacturing sector shrank in August, while Europe’s growth slowed
The head of the International Monetary Fund, Christine Lagarde, has warned emerging nations to brace themselves for the impact of China’s economic slowdown.
Speaking in Indonesia today, Lagarde said the global economy was weaker than the IMF had hoped. And the recent spike in “global risk aversion and financial market volatility” could hurt growth in Asia.
As the Chinese economy is adjusting to a new growth model, growth is slowing—but not sharply, and not unexpectedly. The transition to a more market-based economy and the unwinding of risks built up in recent years is complex and could well be somewhat bumpy. That said, the authorities have the policy tools and financial buffers to manage this transition.
Other emerging economies, including Indonesia, need to be vigilant to handle potential spillovers from China’s slowdown and tightening of global financial conditions.
IMF's Lagarde says other EM economies need to be vigilant for spillovers from China's slowdown & tighter global fincl conditions @Reuters
There is yet a third shift—unfolding in advanced economies. There are signs that the recovery is firming up in the United States, advancing the prospects of interest rate lift off. This could pose a risk for emerging economies, including Indonesia, in the form of weaker capital flows, higher interest rates, and financial volatility.
Connor Campbell of SpreadEX confirms that the problems in China’s factories have pushed European shares down this morning:
After that awful August things haven’t gotten off to the greatest start this September, with further disappointing data from China immediately creating drag for the European indices.
Weak manufacturing and services PMIs from both the official figures and the Caixin surveys shows the Chinese slowdown is showing no signs of, well, slowing down.Continue reading...
Famed composer had planned to lead Berlin orchestra performance in Tehran but has been stopped from entering country due to his Israeli citizenship
Iran has barred famed conductor Daniel Barenboim from entering the country because of his Israeli citizenship, thwarting his plan to lead a performance in Tehran, media have reported.
Barenboim, the 72-year-old general music director of the Berlin State Opera House, said on Thursday he was in talks with Iran about a concert, in what would have been a major example of cultural diplomacy.Continue reading...
I’m still talking about net spend.
Just remember, talk about net spend https://t.co/1x0J6D7PuF
Is “inflation adjusted” the new “net spend”, fella? Rory McGee tells us that it is:
“Can we have a moratorium on the term inflation adjusted? It’s the new net spend and about as informative. It’s obvious that football prices have risen at a faster rate than standard prices. Adjusting them with CPI or RPI is clearly stupid. It might matter for a discussion about the largesse in football or the sickening amount of money, but when we weigh up transfers it ignores something key. There is effectively a limited supply of footballers and football clubs, for whom the outside value of the money doesn’t matter as much. When you buy your ‘NextBigThingTM’ thanks to the generous backing of ‘SugarDaddyOwner’ or ‘FansOverpayingForTV’ it only really matters who else you could have bought for that money, i.e. the price of ‘OverTheHill’.”Continue reading...
Rebel in the Rye is set to explore the birth of the reclusive writer’s best-known work
Nicholas Hoult is to play JD Salinger in a new biopic which will tell the story of the creation of the reclusive author’s classic novel of teenage disaffection, Catcher in the Rye, according to the Hollywood Reporter.
Rebel in the Rye will be based on Kenneth Slawenski’s biography JD Salinger: A Life, which explores the writer’s life prior to the publication in 1951 of his most famous work. Danny Strong, co-creator of the hit television show Empire, has adapted the screenplay from Slawenski’s book, and will also direct.Continue reading...