Economy Upbeat data suggest U.S. economy still on moderate growth path (Thomas R.) The U.S. central bank cut rates in July for the first time since 2008. The Fed offered mixed signals on further monetary policy easing. Data, including retail sales, so far in the third quarter suggest the economy is growing close to the April-June quarter’s 2.0% annualized rate. Financial markets have been flagging a recession. The Atlanta Fed is estimating gross domestic product rising at a 1.9% pace this quarter. Beijing Daxing International Airport: China’s new mega-airport ready to open (Sparky1) The multibillion-dollar Daxing, designed by the late architect Zaha Hadid and her Chinese partners, is built for the future, boasting four runways and a terminal the size of 97 soccer pitches upon opening
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The U.S. central bank cut rates in July for the first time since 2008. The Fed offered mixed signals on further monetary policy easing. Data, including retail sales, so far in the third quarter suggest the economy is growing close to the April-June quarter’s 2.0% annualized rate.
Financial markets have been flagging a recession. The Atlanta Fed is estimating gross domestic product rising at a 1.9% pace this quarter.
The multibillion-dollar Daxing, designed by the late architect Zaha Hadid and her Chinese partners, is built for the future, boasting four runways and a terminal the size of 97 soccer pitches upon opening of the first phase — as well as customer-service robots that will provide travelers with flight updates and airport information.
Trump Announces New Sanctions on Iran (jdargis)
The latest sanctions affect the Central Bank of Iran and the National Development Fund of Iran, “the last remaining source of funds,” said Treasury Secretary Steven Mnuchin, who joined Mr. Trump in the Oval Office.
“This is very big,” Mr. Mnuchin said. “We’ve now cut off all source of funds to Iran.”
“Walgreens continues to explore partnerships to transform and modernize our customer experience and we are proud to be the first retailer in the U.S. to offer an on-demand commercial drone delivery option with Wing,” said chief innovation officer Vish Sankaran. He said the company wants to provide customers the products they “need wherever, whenever and however they may want them.”
The incident reminded residents of a heart-stopping January 13, 2018 false warning of a ballistic missile attack which occurred amid especially bellicose rhetoric between President Trump and North Korean leader Kim Jong Un. Just days before the mistaken alert, Kim had warned that the nuclear button is “always on my desk” and Trump retorted with a tweet: “I too have a Nuclear Button, but it is a much bigger & more powerful one than his, and my Button works!”
The number of countries who have diplomatic relations with Taiwan — officially the Republic of China — rather than the mainland Chinese government has shrunk rapidly since 2016. Last year alone, El Salvador, Burkina Faso and the Dominican Republic all announced they would no longer recognize Taipei.
Argentine lawmakers on Thursday unanimously approved a draft emergency food law to free up resources for social programs amid a worsening economic crisis. Soaring inflation and rising poverty have stirred outrage at austerity measures introduced by center-right President Mauricio Macri’s government in order to comply with the terms of a record $57 billion IMF bailout.
“Absent this action, national security and natural resource values will be lost. The impacts of this crisis are vast and must be aggressively addressed with extraordinary measures,” Secretary of the Interior David Bernhardt said in a statement. “The damages to natural resource values are a byproduct of the serious national security, drug enforcement, and other immigration challenges facing our dedicated staff along the border. Construction of border barriers will help us maintain the character of the lands and resources under our care and fulfill our mission to protect them.”
China Just Got Handed The Oil Deal Of A Lifetime (Thomas R.)
According to senior oil and gas industry sources spoken to by OilPrice.com last week, it is China that will do all of the work and finance all of the drilling, with the headline ‘Iraq Drilling Company’ being on the contract simply to assuage the followers of Moqtada al-Sadr, the de facto leader of Iraq, and his Sairoon (‘Marching Towards Reform’) power bloc whose public message at the last election was that Iraq should not be beholden to any other country. OilPrice.com understands that al-Sadr privately has approved the project, otherwise, of course, it would not be going ahead.
For a study published Sep. 19 in the journal Science, Marra joined with other scientists and conservationists to analyze nearly five decades of population data on 529 species of North American birds. The results were staggering: Since 1970, the continental U.S. and Canada have lost more than 1 in 4 birds. The total bird population in the two countries has fallen by almost 3 billion, with grassland birds such as western meadowlarks and American sparrows and shorebirds such as green herons taking the biggest hits.
Strikes were planned in each of the 50 United States. By late morning, protesters across the Eastern Seaboard were streaming out of schools and office buildings, pooling around steps of local city halls. In Baltimore, the police blocked roads as students arrived on foot, scooter and skateboard. In St. Petersburg, Fla., about 200 protesters convened at City Hall, including one dressed as a polar bear with a sign that said “Climate Action Now.”
Three Mile Island goes offline (Thomas R.)
Forty years ago, the partial meltdown at TMI was the worst nuclear accident in U.S. history.
The plant has been in operation since 1974, but has failed to sell its power in the past several years.
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