Hurricane Ian caused widespread damage to Florida's farms and ranches. Many acres remain under water and thousands of plants and trees were destroyed as Ian ripped through the state with winds exceeding 100 miles an hour. Some farmers indicated that Ian's aftermath would push planting season back by a week or more. Others may not plant at all.
Tag: technology
The Electric Car ‘Battery Belt’ is Reshaping America’s Heartland (Macro News for August 27, 2022 – September 2, 2022)
President Biden’s recently signed climate legislation will accelerate a trend sweeping across middle America. The bill contains "tens of billions of dollars in subsidies for high-tech electric vehicle plants across the South and the Midwest." While the major impetus of the subsidies is to combat climate change, it will also provide economic growth funds for what has been dubbed the Battery Belt.
UK Workers Suffer Biggest Hit to Their Wages Since Records Began (Micro News for August 20, 2022 – August 26, 2022)
Soaring prices in the UK have pushed real wages to the lowest level in 20 years. Average real wages, which are nominal wages adjusted for inflation, fell by 3% between April 2022 and June 2022. Real pay is falling faster than it has since the UK began tracking this data in 2001. Necessities such as food and energy continue to rise much faster than pay.
Nigeria’s ‘Techpreneurs’ are Using Technology to Provide Life-Changing Solutions to Everyday Problems (Macro News for January 9, 2021 – January 15, 2021)
The continent of Africa is being transformed by droves of technology innovators due to access to the internet and mobile phones. One estimate puts the 2019 mobile industry's economic impact on the entire continent's gross domestic product (GDP) at $155 billion. Nigeria's entrepreneurs in particular are taking advantage of the increased connectivity to raise funds and start businesses. In 2019, Nigerian startups raised almost $400 million to fund new ventures.
Pearson Economic News 