Economy
Gas Crisis Hits Food as Giant Dutch Greenhouses Go Dark – Bloomberg Quint
Europe’s Power Crisis Moves North as Water Shortage Persists – Bloomberg
As the frontier of Europe’s energy crisis moves north, the Nordic region faces a worsening power crisis with dwindling water reservoirs hampering the generation of hydroelectric power.
Nordic power prices were five times higher in September than a year ago. That’s hitting everyone from power-hungry factories and miners, to students struggling with their bills. Inflation is rocketing.
Wheat futures surge as U.S. supplies drop to 14-year low – Nasdaq
Chicago wheat futures surged on Thursday, after the federal government reported that U.S. supplies of wheat have fallen to their lowest level since 2007 – and that the wheat harvest is the smallest seen in 19 years.
At the same time, the country ended the Sept. 1 crop year with slightly more soybeans than traders had expected, which sharply pressured bean futures.
Evergrande: Company set to update market on ‘major transaction’ – BBC
Chinese property giant Evergrande’s shares have been suspended as investors await a statement about its future.
The crisis at the world’s most indebted property developer has triggered fears that its potential collapse could send shockwaves through global markets. The firm said the trade halt came ahead of “an announcement containing inside information about a major transaction”. It comes amid reports that a rival real estate firm is reportedly set to buy a majority stake in an Evergrande unit.
Robots Take Over Italy’s Vineyards as Wineries Struggle With Covid-19 Worker Shortages – WSJ
Last year’s grape harvest was a harrowing scramble at Mirko Cappelli’s Tuscan vineyard. With the Italian border closed because of the pandemic, the Eastern European workers he had come to rely on couldn’t get into the country. The company he had contracted to supply grape pickers had no one to offer him. He ultimately found just enough workers to bring the grapes in on time.
UK faces a ‘double whammy’ of food-price rises that squeezes consumers – Daily Mail
Britain faces a ‘double whammy’ of food-price rises that will squeeze consumers already facing drastic hikes in energy and household bills.
Food industry experts warned shoppers to brace themselves for an increase of ‘four or five per cent’ by the end of November followed by a similar rise in January.
David Sables, a food industry veteran who helps suppliers negotiate with big firms, said the first set of price hikes were linked to rising cost of commodities, raw materials and labour in recent months.
Emerging risk to US southern cattle from rabid vampire bats – Brownfield Ag News
“With the changing environment, with the decrease in natural bat habitat, there are a lot of interesting factors going on right now that are encouraging the northward spread of the vampire bat from Mexico towards the southern United States.” Maki says damage estimates to cattle in that region if vampire bats take hold is $7 to 9 Million dollars a year.
Environment
One of California’s most expensive beach communities is soaked in oil – Quartz
A catastrophic oil spill off the shore of one of the most expensive beachfront communities in California is threatening wildlife at sea and in coastal wetlands.
Authorities believe the spill is leaking from an undersea pipe connected to an offshore oil rig known as “Elly,” which along with its sister rig “Ellen” is operated by Beta Operating Corp., a subsidiary of Amplify Energy.
The controversial quest to make cow burps less noxious – Ars Technica
Cows, you see, have a serious emissions problem. To digest tough plant material, their cavernous stomachs act as fermentation vats. They’re teeming with methanogens, microbes that process cellulose to make volatile fatty acids, which the cows turn into meat and milk. But those methanogens also produce methane, a particularly nasty greenhouse gas that is 80 times more potent than carbon dioxide, thanks to the way its molecules vibrate to absorb infrared radiation. These gases capture heat, and that means more global warming.
Health
Merck’s new Covid-19 drug could be one of the most lucrative drugs ever – Quartz
American pharmaceutical company Merck is ready to seek approval for what would be the first antiviral drug against Covid-19, the company announced today. The drug, named molnupiravir, reduces the risk of hospitalization or death by 50% in Covid-19 patients with mild and moderate symptoms compared with placebo, Merck said.
After the positive results of its clinical trials, Merck plans to submit the data for review and obtain emergency authorization from the Food and Drug Administration (FDA) as soon as possible. Other companies, including Pfizer, are also testing antiviral drugs and are expected to present the results of their trials in the coming weeks.
The post Daily Digest 10/4 — Gas Crisis Hits Food as Giant Dutch Greenhouses Go Dark; Europe’s Power Crisis Moves North as Water Shortage Persists… appeared first on Peak Prosperity.
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