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Scientist warns that hurricane risk to Gulf Coast is increasing 20 years after Katrina
A new study warns that the Gulf Coast of America is becoming increasingly vulnerable to hurricanes. This comes 20 years after Katrina destroyed New Orleans and hundreds of kilometers of coastline. Marc Bove is a German Reinsurer Munich Re meteorologist who warned that with time, the likelihood of major hurricanes making landfall in the area will increase and the effectiveness post-Katrina of flood defense systems would diminish. Katrina, the worst hurricane to ever hit the United States, made its debut in August 2005. It began in Florida, then intensified when it reached the Gulf of Mexico. The storm caused nearly 1,400 fatalities and a total of $205 billion, inflation-adjusted, in damage. "The hurricane risk is increasing, and it's not just in the Gulf area." Bove told. Bove stated that today's Katrina would cost more, and not just due to inflation. The flood protections in New Orleans will gradually erode due to rising sea levels and sinking ground levels. (Reporting and writing by Alexander Huebner, editing by Rachel More).
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Gold falls with Fed Chair Powell's Speech on Radar
Gold prices fell on Friday, as the U.S. Dollar strengthened. Investors were also awaiting Federal Reserve Chair Jerome Powell to speak at the Jackson Hole Symposium for clues about the central bank's policy. Spot gold fell 0.5% to $3,322.43 an ounce at 8:43 am EDT (1243 GMT) while U.S. Gold Futures fell 0.5% to $3,364.20. Investors backed off rate-cut bets in anticipation of Powell's address at 10:00 a.m. ET (1400 GMT). Powell's speech at the annual Jackson Hole Economic Conference comes amid unprecedented pressure from President Donald Trump on the central banks. However, mixed economic data could pull Powell towards a middle-ground that leaves many major questions unresolved. David Meger is director of metals and futures trading at High Ridge Futures. Any signals about possible rate cuts this year may have a significant impact on gold prices. Even subtle hints will have an impact. "I believe we will see (Powell), take a more cautious stance, considering that two important pieces of economic information, the PCE report and the jobs report, still need to be submitted before the September meeting." CME's FedWatch showed that traders now see a 71.5% probability of a rate cut of 25 basis points in September. This is down from 85.4% one week ago. Gold is usually more profitable in low-interest rate environments, since it offers no yield and looks more attractive compared to other assets that pay interest. In other parts of Asia, gold demand was subdued as price volatility held buyers back. However, jewellers have resumed their purchases in India ahead of the festival season. Silver spot fell 1% to $37.78 an ounce. Platinum fell 1.1% to 1,338.25 and palladium dropped 0.5% to 1115.77. Ashitha Shivaprasad, Bengaluru (Reporting and Editing by Jan Harvey).
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Aldebaran, a Canadian company, plans to invest $1.5 billion in Argentina's copper project
Javier Robeto, the country manager of Aldebaran Resources Canada, said that at least $1.5 billion will be needed to develop the Altar copper project located in northern Argentina. Robeto stated that the company will include this figure in its preliminary assessment of September. This will show Altar has about 32 billion pounds copper resources and approximately 6.7 million ounces gold resources. Aldebaran does not know if it will be able to spend the money in time to qualify under RIGI (the government's incentive program), which provides long-term tax breaks as well as access to international dispute tribunals for investments above $200 million. The scheme will continue to accept applications until July 2026. There is a possibility of an additional year. It's not sure we'll make the cut. What happens if RIGI is stopped? Robeto explained that the tax burden would automatically return to 54%. RIGI has approved only two lithium mining projects so far, both of which were implemented in October by President Javier Milei. Glencore and McEwen Mining, among others who are working on copper projects, have also applied for the program. Robeto has not provided a timeline for the construction and production of Altar. The estimated lifespan is 20-25 years. The economic assessment includes two scenarios of copper production in either cathode or concentrate form. Robeto explained that the idea was to do a trade-off, examining both pros and cons. (Reporting and Writing by Lucila SIGAL, Editing by Jan Harvey).
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Rainforest to retail - Indonesian women protecting nature through work
Women use flowers and plants for ecoprinting Sustainable livelihoods protect at-risk rainforest Families can get help with food and school fees by receiving income By Leo Galuh A group of women who work in a conservation park located in Citalahab Sentral - a small village inside Gunung Halimun-Salak National Park - aims to show that nature protection and earning a living can be compatible. Ambu Halimun (which means "Mothers Of Halimun" is Sundanese) gathers foliage rich in natural colours and tannins. Ecoprinting is a technique that uses the flowers and leaves to transfer pigments onto the fabric. Ambu Halimun sells the skirts, scarves, and tote bag made from the intricately-printed fabric in international markets. The women have carved out a livelihood that is sustainable from the rainforest, without having to cut down trees or hunt wildlife. The group is still a small force, but it is growing. It is aiming to become a powerful enough force to make a difference in protecting Indonesia's natural environment. According to United Nations statistics, Indonesia is a biodiversity hotspot. It has a large share of the global flora, fauna and flowering plants, including 17% of bird species. Orangutans and Javan gibbons, Sumatran Tigers and Sumatran tigers are just a few of the critically endangered species that live in its rainforests. Deforestation caused by mining, agriculture and infrastructure is a serious threat to biodiversity. Global Forest Watch reports that between 2002 and 2024 the country lost 10.7 millions hectares (26,4 million acres) in humid primary forest. The human population is growing but the land is limited. They will now be the ones to lead the conservation effort because they have the knowledge and skills to do so," says Rahayu Oktaviani. She is the co-founder of the Javan Gibbon Conservation group, Konservasi Ekosistem Alam Nusantara. JAVAN GIBBONS Citalahab Sentral, with fewer than 300 inhabitants, relies on small-scale farming and tea farming. Tourism through homestays, forest treks, and other activities is also available but it provides inconsistent income. The KIARA group started offering training to residents in ecoprinting and sewing, natural fertilizer production, English, and public speaking after the pandemic devastated local tourism. Tourism earnings are still far below the pre-pandemic level, despite a slow return of guests since 2022. Yuliana is a mother of 4 and a member of Ambu. She said that the income she received from her husband's homestay was not enough to cover daily expenses. She now prints fabrics with motifs of the flora. Yuliana (who goes by one name) said, "I had no idea that leaves would produce natural colors to make ecoprint." KIARA, together with the women, has identified at least 24 rainforest plants species that contain tannins - natural compounds which bind colors to fabrics and prolong their life. Members of Ambu Halimun sell their products through social media, as well as to tourists. They accept orders via Instagram, and prices range from 250,000 Rupiah ($15) up to 700,000. The group's ecoprint signature is a Javan Gibbon motif. Sharing stories about the gibbon habitat and the threats that it faces due to deforestation, hunting and other factors helps raise awareness of conservation in the local community. The gibbon, a small ape that has silver-grey hair and a black facial pattern, is in danger. According to the International Union for Conservation of Nature (IUCN), there are only 4,000-4500 gibbons left in Indonesia. FOOD AND SCHOOL FEE Ambu Halimun's Wulan says her ecoprint earnings have made a real difference. She said that the majority of her family's expenditure is on food and school fees for her children. If he works for 20 days, her husband, who is a tea picker earns between 800,000.00 ($49) to 1,140.000 ($70). Many families borrow money in order to survive, and end up in debt. Ecoprint pays me 2 million Rupiah (122 dollars) every quarter. "It's enabled me to save," Wulan said as she removed the boiled marigold flower from the fabric. KIARA plans to expand its ecoprinting efforts, but its artisanal character means that its size will be restricted. Harumi Supit is vice president of Amartha Financial's public relations department. Amartha Financial provides services to more than 3.3 million women owned businesses in rural Indonesia. She said that to reach and sell in bigger markets, they require resources, transport and channels of distribution as well as careful planing. She said that maintaining quality standards is a challenge when you want to reach a wider audience. Ambu Halimun sold 41 pieces in 2020, and 237 the previous year. By mid-2025 it had reached 130 sales. Oktaviani said that KIARA’s role is to expand the group, encourage residents – especially women – to adapt to the post-pandemic changes in the economy and to find solutions within the environment. She said that they have an in-depth knowledge of the native plants. She said that the leaves used in ecoprint were often the same ones used traditionally for herbal remedies or as raw food. It's rooted into traditional knowledge which is slowly disappearing. She said that the project is not only helping to keep the forest intact but also empowers women, who "used to be tucked in the kitchen."
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Stocks on hold as traders wait for Powell's speech
The stock market was largely flat on Friday, as traders awaited the key speech by Federal Reserve Chairman Jerome Powell this weekend at the annual Jackson Hole Symposium that could shed some light on future monetary policy. Powell's previous speeches at this event have often moved the markets. This year's remarks will be closely scrutinized as his position is under heavy scrutiny from U.S. president Donald Trump. There are concerns that the Fed's autonomy could be threatened. Investors have reduced their bets that the Fed will cut rates at its September meeting due to a surge in U.S. Producer prices. This is down from 85% a week earlier. The Jackson Hole event also featured other Fed speakers who were lukewarm about the idea of a cut in September, despite recent signs that the U.S. labor market is weakening. Nabil Milali said that a cautious tone from Powell regarding the prospects of a September rate cut, deferring to future jobs and inflation data, could be enough to reduce market pricing down to a 50/50 call. Milali said that Powell could also decide to defend the Fed’s independence. He said that he believed the unofficial topic of this meeting was central banks' autonomy. MSCI's broadest global stock index was essentially flat for the day after European stocks rose in the morning before the speech. Wall Street futures are up between 0.1-0.2%. China's CSI 300 Index rose 2.1% after DeepSeek upgraded its flagship V3 AI Model and reported that Nvidia asked Foxconn suspend work on the H20 AI Chip, lending support for Chinese rivals. The dollar index (which measures the greenback versus six peers) edged up 0.1%, while the euro fell 0.1% to $1.15985, after an official revision showed that Germany's second-quarter economy contracted by 0.3%. Data from Japan showed that core consumer prices fell for the second consecutive month in July, but they remained above the central banks' 2% target. This has kept alive expectations of a rate increase in the near future. This did not help the yen much, as it was on track for a 1% drop for the week. BOJ Governor Kazuo Ueda is also scheduled to speak in Jackson Hole, Wyoming this weekend. Brent crude oil prices fell, Brent crude trading at $67.5 a barrel last, down 0.2% from Thursday's gains as Russia and Ukraine blamed one another for the stalled peace processes. Gold spot fell 0.2% to $3,330.9 an ounce.
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Copper prices rise on strong demand in advance of Powell's speech
The copper price rose for the third time in a row as China, the world's largest metals consumer, remained strong and investors hoped that a speech from U.S. Central Bank chief John Williams would indicate interest rate reductions. The benchmark three-month copper price on the London Metal Exchange rose 0.2% to $9,745 per metric ton. This is down from a high of $10,020.50 reached on July 2. It was its highest in more than three months. The Chinese demand for the metal remains healthy, according to Nitesh Sha, a commodity strategist with WisdomTree. Last month, U.S. president Donald Trump imposed tariffs of 50% on copper products. However, he excluded ores, concentrates, and cathodes. The Yangshan Copper Premium is a premium in China Since August 11,, which represents the demand for imported copper into China, is up 13% at $51 per ton. Investors await the speech of U.S. Federal Reserve chair Jerome Powell at the annual Jackson Hole Conference in Wyoming, due to start at 1400 GMT. Shah said that if there is any indication of a dovish tilt, it could be a very positive for copper prices because that would keep demand up. The dollar index was firmer on Friday, after some Fed officials were hesitant to cut rates next month. The dollar is stronger, and therefore the prices of commodities in U.S. dollars are higher for foreign buyers. LME aluminum also increased, adding 0.15%, to $2,589 per ton. Analysts at Guosen Futures on Friday said that the anticipation of a seasonal increase in demand next month could have helped to boost aluminium prices. Other metals include LME Zinc, which rose 0.8% to $2.787.50 per ton. Lead gained 0.6% at $1.981, Tin increased 0.1% at $33,465, while Nickel fell 0.1% at $14,920. (Reporting and editing by Jan Harvey; Additional reporting in Beijing by Amy Lv; Reporting by Eric Onstad)
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Dollar firms as gold falls, but Powell's Jackson Hole remarks are in the spotlight
The dollar's strength caused gold to fall on Friday. Markets are awaiting Jerome Powell's address at the annual Jackson Hole Symposium for further insight into the Fed's monetary policies. By 0817 GMT spot gold had fallen 0.4% to $3,326.35, while U.S. Gold Futures for December Delivery were down 0.4% to $3,368.80. UBS analyst Giovanni Staunovo stated that the moderately stronger U.S. dollar was playing a significant role in the current gold pullback. Gold becomes more expensive to overseas buyers when the dollar is stronger. Investors reduced their expectations of a Fed rate reduction in September, causing the dollar index to rise to a two-week high. According to CME's FedWatch, futures markets now indicate that there is a 71% probability of a rate cut by a quarter point next month. This is down from over 90% a week ago. In a low-interest rate environment, non-yielding gold tends to perform well. Fed officials appeared to be lukewarm on the idea of a cut in rates next month, as investors prepared for Powell's Friday 1400 GMT speech. Staunovo stated that their comments indicate the next U.S. Central Bank meeting will be "intense, with some favoring large cuts while others (favor) no movement at all". Fed policymakers face a challenge because, despite signs of a weakening labour market, inflation is still above the central banks' 2% target. It could even go higher as a result of the Trump administrations aggressive tariff increases. Recent data on the US labour market showed that unemployment claims in the United States rose by nearly three months last week, and the week before they reached a four-year high. Silver spot was down 0.4% to $38.03 an ounce. Platinum fell 0.6% to 1,343.80 and palladium increased 0.2% to 1,112.85. (Reporting Ishaan Arora in Bengaluru; Editing by Jan Harvey)
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China tightens its grip on rare earth supply quotas
China, which is the dominant supplier of rare earths in the world, announced on Friday new measures to regulate mining, smelting, and separation of these critical minerals that are key to the energy transition. This will further tighten its grip on supply. Beijing regulates, manages and controls rare earth mining and smelting via a quota-based system. In a recent statement, the Ministry of Industry and Information Technology announced that these new rules would include imported raw materials within that system. The process of public consultation began in February. Analysts said that the inclusion of imported iron ore indicates a tightening in supply. Companies were concerned that they might lose their access to feedstock. Rare earths is a grouping of 17 elements that are used in products ranging from magnets in wind turbines, electric vehicles and consumer electronics to lasers in military equipment. In April, in response to the U.S. tariff increases, China added several rare earth products and magnets on its export restriction list. The first 2025 mining and smelting license was quietly released Quotes Without making its usual public statements, reported last year, citing sources. Reporting by Beijing Newsroom and Lewis Jackson, Editing by Muralikumar Aantharaman and Kate Mayberry
What Trump 2.0 could mean for trade, migrants, Ukraine and variety programs
Donald Trump's 2nd presidential term might have substantial implications for U.S. trade policy, environment modification, the war in Ukraine, electric vehicles, Americans' taxes and prohibited migration.
While a few of his campaign propositions would require congressional approval, here is a summary of the policies Trump has actually stated he will pursue after he takes workplace on Monday.
MORE TARIFFS
Trump has actually stated he will release executive orders on his very first day in office to impose a 25% tariff on all imports from Canada and Mexico if the two U.S. neighbors do not clamp down on the circulation of drugs into the U.S. and people entering the country unlawfully. The tasks might badly hinder the highly incorporated economies, where car parts can cross borders several times before last assembly. Trump has actually also called for an international tariff of a minimum of 10% on all goods imported into the U.S., a move he says would get rid of a. $ 1-trillion annual trade deficit. Critics say it would cause. higher prices for American customers and draw vindictive duties. on American exports.
Trump has said he should have the authority to set higher. tariffs on countries that have actually positioned tariffs on U.S. imports,. often grumbling about Europe's higher tasks on autos. At. times on the project path, he threatened tariffs of 200% on. cars made in Mexico, particularly if Chinese automakers launch. production there. Trump has actually targeted China in particular in an effort to decouple. the world's 2 biggest economies. He has actually proposed tariffs of. 60% or more on all Chinese imports, far above his first-term. tariffs, in part to phase out imports of Chinese electronics and. pharmaceuticals. He also has stated he wishes to prohibit Chinese. companies from owning U.S. real estate and facilities in the. energy and tech sectors.
MASS DEPORTATIONS
Trump has actually pledged to restore his first-term policies. targeting unlawful border crossings and to forge ahead with. sweeping brand-new restrictions.
He has pledged to restrict access to asylum at the U.S.-Mexico. border and to embark on the biggest deportation effort in. American history, which would likely activate legal obstacles. and opposition from Democrats in Congress.
He has said he will use the National Guard, and, if. needed, federal troops, to attain his goal, and he has. not dismissed setting up detention camps to process individuals for. deportation. Trump has stated he would look for to end automated citizenship for. children born to immigrants. While such a relocation would run versus. the long-running interpretation of the U.S. Constitution's 14th. Modification, Trump has stated he would think about trying to press. through a new change that would accomplish his goal. He is expected to attempt to withdraw protected legal status for some. populations such as Haitians or Venezuelans, but would attempt to. look for a congressional offer to protect Dreamers - kids of. moms and dads who came to the country unlawfully.
Trump states he will reinstitute a version of his travel ban. policy that restricted entry into the U.S. of people from. Muslim-dominant countries and other nations, and triggered. several legal fights throughout his first term. A few of Trump's earliest appointments showed a seriousness to. follow through on his migration program. Trump has named a. border czar, Tom Homan, and will make Stephen Miller, the. designer of his immigration strategies, a White Home deputy chief. of staff.
DRILLING AWAY. Trump has vowed to increase U.S. production of nonrenewable fuel sources by. relieving allowing and expanding drilling on federal land. He has. said he would support prevalent oil drilling in the Arctic. National Wildlife Sanctuary in Alaska. Trump has actually vowed to create a National Energy Council to. coordinate policies to improve U.S. energy production, led by his. pick for interior secretary, former North Dakota Governor Doug. Burgum.
Whether the oil market follows through and raises. production - which is currently running at record highs - remains. to be seen.
Trump is most likely to again pull the U.S. out of the Paris. climate offer, a framework for lowering international greenhouse gas. emissions, and would support increased nuclear-energy. production. He would also roll back Democratic President Joe Biden's. electric-vehicle requireds and other policies targeted at reducing. auto emissions.
Trump has argued the U.S. needs to increase energy production. to be competitive in developing artificial-intelligence systems,. which take in big quantities of power.
TAX RELIEF. Along with his trade and energy programs, Trump has guaranteed to. slash federal guidelines that he states limit task development. He. has pledged to extend personal income-tax cuts that he signed. into law in 2017 however which are because of end on Dec. 31, and he. has actually proposed a variety of individual and business tax cuts. beyond those enacted in his very first term.
Trump has actually promised to decrease the corporate tax rate from 21%. to 15% for companies that make their products in the U.S.
. He has actually said he would look for legislation to end tax of. suggestions and overtime incomes to help waiters and other service. employees. He has pledged not to tax or cut Social Security. benefits.
Trump also has actually stated he would press the Federal Reserve to. lower interest rates - however would stop brief of requiring it.
The majority of, if not all, of his tax propositions would need. congressional action. Budget plan experts have cautioned that the bunch. of tax cuts would swell the federal debt by trillions of. dollars over a years without cost savings elsewhere.
GETTING RID OF VARIETY PROGRAMS. Trump has promised to require U.S. colleges and universities to. protect American custom and Western civilization and to. purge them of variety programs. He said he would direct the. Justice Department to pursue civil rights cases against schools. that participate in racial discrimination.
At K-12 schools, Trump would support programs allowing. moms and dads to utilize public funds for private or religious. guideline.
Trump has actually likewise suggested abolishing the federal Department. of Education and leaving states in control of schooling.
NO FEDERAL ABORTION RESTRICTION
Trump appointed three justices to the U.S. Supreme Court who. were part of the bulk that reversed the court's landmark. Roe v. Wade choice that ruled there was a constitutional right. to an abortion. He likely will continue to select federal. judges who would promote abortion limitations.
At the exact same time, Trump has said a federal abortion ban is. unneeded which the concern must be dealt with at the state. level. He has argued that a six-week ban preferred by some. Republicans is overly severe and that any legislation should. include exceptions for rape, incest and the health of the. mother.
Trump has recommended he would not look for to restrict access to the. abortion drug mifepristone after the U.S. Supreme Court declined. a challenge to the federal government's technique to managing it.
He supports policies that advance in vitro fertilization,. birth control and prenatal care.
A PUSH TO END WARS. Trump has actually been vital of U.S. support for Ukraine in its war. with Russia, and has stated he might end the war in 24 hr if. chosen - although consultants concede it will likely take months. if not longer.
He has actually recommended Ukraine might need to yield some of its. territory if a peace deal is to be struck. Trump and his pick for national security adviser, U.S. Representative Michael Waltz, have slammed the Biden. administration's choice in November to allow Ukraine to use. U.S.-provided missiles to strike within Russian territory.
Trump has likewise said that under his presidency the U.S. would. fundamentally reconsider NATO's function and NATO's objective.
Trump named U.S. Senator Marco Rubio, a China hawk, as his. secretary of state, charged with performing his diplomacy. goals. Trump has backed Israel in its fight versus Hamas in Gaza and. hailed a ceasefire deal revealed on Wednesday that might see. the eventual withdrawal of Israeli soldiers from Gaza and the. release of captives recorded by Hamas.
Trump is most likely to promote historical normalization of. relations between Israel and Saudi Arabia, an effort he made. during his 2017-2021 presidency and which Biden has likewise. pursued. He has urged the U.S. to stay out of the dispute in Syria that. has seen long time leader Bashar al-Assad deposed.
Trump has actually suggested building an iron dome - a. missile-defense guard comparable to Israel's - over the entire. continental U.S.
Trump has actually likewise floated the concept of sending out militaries into. Mexico to battle drug cartels and utilizing the U.S. Navy to form a. blockade of that country to stop smuggling of the opioid. fentanyl and its precursors. His transition group has actually been drawing up lists of capacity. high-ranking U.S. military officers to fire as part of a purge. of the Pentagon of those believed to be disloyal to Trump.
EXAMINING OPPONENTS, ASSISTING ALLIES. Trump has promised sometimes to utilize federal law enforcement. agencies to examine his political foes, including election. officials, attorneys and celebration donors. Trump tapped previous Florida Attorney general of the United States Pam Bondi as his. chief law officer and previous national security assistant Kash Patel as. his option to lead the FBI. Both have expressed sympathy for. Trump's desire to precise retribution on some of his critics,. although Trump of late has said that he will not direct them on. how to do their jobs.
He has actually said he would think about shooting a U.S. lawyer who did. not follow his regulations - which would make up a break with. the longstanding U.S. policy of an independent federal law. enforcement apparatus. Trump has said he will likely pardon many of those who have actually been. convicted of crimes in connection with the Jan. 6, 2021, attack. on the U.S. Capitol. In December, he recommended members of the. congressional committee that examined the attack needs to be. imprisoned.
In addition to criminal examinations, he has recommended. using the federal government's regulatory powers to punish those he. consider as critics, such as television networks.
PURGING THE FEDERAL BUREAUCRACY
Trump would seek to decimate what he terms the deep state--. career federal workers he states are clandestinely pursuing. their own agendas-- through an executive order that would. reclassify thousands of employees to allow them to be fired. That. would likely be challenged in court. He has actually said he will set up an independent federal government efficiency. panel headed by billionaire fan Elon Musk and former. presidential candidate Vivek Ramaswamy to root out waste in the. federal government. The federal government currently has guard dogs such as. the Office of Management and Spending plan, and inspectors general at. federal companies.
Trump would punish federal whistleblowers, who are. generally protected by law, and would institute an independent. body to keep track of U.S. intelligence companies.
(source: Reuters)