Climate Change Cancels Christmas in Zim

Christmas will be dark for Zimbabweans. The hydropower station that supplies over 70% of Zimbabwe’s electricity will be turned off imminently and remain off until Jan. 1, 2023, owing to low water levels.

With climate change, reduced flows into the dam are going to be prevalent.

Nigeria's Lagos state is set to choose Portuguese contractor Mota-Engil and two Chinese firms to construct a $2.5 billion bridge that is expected to ease heavy traffic in the West African nation’s most populous city. The Fourth Mainland Bridge will span 23 miles and include three toll plazas and nine interchanges, says Jubril Gawat, a senior spokesperson for the governor of Lagos state. (Source: Reuters)

Amazon CEO Andy Jassy is reportedly scaling down global business operations for the world’s largest e-commerce retailer as part of heavy cost-cutting initiatives. In its third quarter financial report, Amazon posted an international operating income loss of $5.5 billion, leading to the firm shedding jobs, scaling down its meal and grocery store delivery services, and shelving several new products. India is one region where Amazon is implementing cuts, which are also taking place in the U.S. According to Companies Market Cap, Amazon has lost over $500 billion in market capitalization in the first nine months of the year and ended September in an illiquid position, holding about 94 cents for every dollar in liabilities. (Source: Bloomberg)

Research by global management firm McKinsey & Company has found that Latinos' household spending increased by 6% annually over the past decade, reaching a total market size of $1 trillion in 2021, and that Latinos are the fastest-growing demographic in the country’s economy. “Our research estimates that the Latino consumer base has unmet needs of more than $100 billion currently,” said the company. “Companies that support Latino consumers by optimizing value propositions and tailoring their marketing and sales strategies have a singular opportunity to capture the potential this growing market represents.” (Source: McKinsey & Company)

Companies that support Latino consumers by optimizing value propositions and tailoring their marketing and sales strategies have a singular opportunity to capture the potential this growing market represents.

Protests in the world’s second-largest economy have caused widespread market upheaval in the equities and commodity markets, as Chinese nationals demonstrate against their government’s strict COVID-19 policies. According to The Wall Street Journal, “Widespread protests in China are rare, and some economists are predicting they could lead to stronger Covid measures rather than more relaxed policy as the Chinese government aims for greater control.” (Sources: The Wall Street Journal, The Economist)

Protesters have halted the construction of a $900 million port planned for the southern Indian state of Kerala, claiming that the project has contributed to coastal degradation while robbing fishermen of their livelihood. Demonstrations have prompted the port and logistics corporation owned by billionaire industrialist Gautam Adani to pause its work on the proposed Vizhinjam seaport, which is slated to compete with ports in Dubai, Singapore and Sri Lanka. Over the weekend, police arrested some protesters who prevented construction vehicles from accessing the port; on Sunday night, hundreds of protesters, led by Catholic priests, marched on a police station. (Source: Reuters)

Protesters have halted the construction of a $900 million port planned for the southern Indian state of Kerala, claiming that the project has contributed to coastal degradation while robbing fishermen of their livelihood.