War! What is it good for? Dividends!



 The largest military and defence corporations of NATO member states have seen a 21.5% boost in market value in 2022 amid the military operation in Ukraine and rearmament in Western Europe, Moscow daily Vedomosti reported on Wednesday.

The newspaper was citing data from Defence News and Trading View analytics.

The corporations’ combined market capitalization increased from $579 billion in December 2021 to $703 billion in December 2022, according to the estimates.

The ranking included 25 companies with a capitalization of over $1 billion which are traded on the stock market and have military products dominating in their revenues, and are also actively involved in arms supplies to Ukraine.

Authors of the report name German arms manufacturer Rheinmetall as the top gainer over the last 12 months, with a 122% surge in share price. French drone and missile producer Thales saw its market value rise 54%. American defence contractor Northrop Grumman was up 44%, while stock in HIMARS rocket launchers maker Lockheed Martin gained 42%.

Other notable mentions in the report include BAE Systems (+40%), Kongsberg Gruppen (+37%), General Dynamics (+24%), and Raytheon Technologies (+19%).

The report pointed out that the value of NATO’s military giants was soaring while the overall Western corporate sector sank by 16% last year, according to the S&P 1200 index, suggesting that arms manufacturers were likely the main beneficiaries of the political crisis in Europe.

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Dave C.

Tanking up the conflagration



 Say you’re at war without saying youre at war.

“Britain will provide Ukraine with main battle tanks, a spokesperson for Prime Minister Rishi Sunak told reporters. The statement came after Poland said it would transfer German-made tanks to Kiev’s forces, with Berlin’s permission.

The spokesman said Sunak had asked Defence Secretary Ben Wallace to “work with partners” to go “further and faster with our support for Ukraine including the provision of tanks.”

A formal announcement will likely be made in conjunction with several of Britain’s NATO allies, as was the case when the US, France and Germany all announced together that they would send infantry fighting vehicles to Ukraine.

Poland announced that it would supply Kiev with a number of German-made Leopard tanks, a decision that requires a green light from Berlin.

While the German government officially has no plans to donate any of its own Leopards, Economy Minister Robert Habeck said on Monday that he would not rule out such a step. Meanwhile, Kiev is confident that Germany’s apparent caution is illusory.

“Germany will do it anyway at a later date,” Ukrainian Foreign Minister Dmytro Kuleba told the Tagesschau news channel on Wednesday. “We have already seen this with the self-propelled howitzers, with the IRIS-T anti-aircraft system and most recently with the Marder and Patriot systems.”

According to Sky, an official announcement may be made by multiple countries on January 20, when the US-led ‘Contact Group’ for arming Ukraine is scheduled to meet next.

Warsaw intends to hand German-made tanks over to Ukraine, Polish President Andrzej Duda said during a visit to the country.

A company of Leopard tanks will be transferred as part of coalition building. We want it to be an international company and we decided to put the first package in the form of tanks,” Duda told reporters in the western Ukrainian city of Lviv.

Duda’s comments come just days after Polish PM Mateusz Morawiecki said Warsaw was “considering” a handover of several Leopard 2 tanks to its southern neighbor. Morawiecki also said it would have to be a part of an effort by a “broader coalition of states” and that talks with Germany were “ongoing,” according to the outlet Rzeczpospolita.

While Czechia was the first NATO member to send tanks to Ukraine – turning over several T-72s in April 2022 – Poland has given Kiev the most armour. Duda said on Wednesday that 240 Polish T-72s had been delivered as part of “spectacular assistance” to Ukraine. Ukraine has repeatedly demanded western-made tanks.

So far, Berlin has agreed to give Kiev 40 Marder infantry fighting vehicles and a US-made Patriot air defence battery, already an escalation from its previous deliveries.

Ukraine has sought a symbolic delivery of Leopards to open the gates for the eventual delivery of US tanks, Defence Minister Aleksey Reznikov told the US outlet Politico in October. Last week, Reznikov told Ukrainian TV that his country is “carrying out NATO’s mission” by shedding blood, so it is the West’s responsibility to provide the weapons.

The US and its allies provided almost $100 billion worth of weapons, equipment and ammunition to Ukraine in 2022, according to Russian Defence Ministry estimates. Moscow has repeatedly warned the West that its military aid to Kiev only prolongs the conflict and risks a direct confrontation. Kremlin spokesman Dmitry Peskov  that the US and NATO are “definitely” taking part in the conflict, “although indirectly, by proxy.””

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Dave C.

Not so smart, after all

  Which? the consumer champion found products like expensive dishwashers, TVs, and washing machines – which might be expected to last more than a decade – are “being abandoned” by brands.

A lack of software support from firms means devices do not get updated. Smart appliances could stop working properly after just two years because manufacturers are failing to provide tech updates. 

Which? looked at popular smart TVs, dishwashers, washing machines, smartphones, inkjet printers, smartwatches and fitness trackers. It found that hardly any brands even came close to matching their expected lifespan with their smart update policies.

Rocio Concha, Which? director of policy and advocacy, said: “It’s unfair for manufacturers to sell expensive products that should last for many years and then abandon them. This means the product could lose the features that justified the hefty price tag, and potentially create a security risk or add to the electrical waste mountain if it has to be replaced…”



Smart appliances could stop working after two years, says Which? – BBC News

Neglected News Stories

 Ten humanitarian crises that didn’t make media headlines in 2022:

Angola – 3.8 million people do not have enough to eatMalawi – 37 percent of children are malnourishedCentral African Republic – 3.1 million people in need of humanitarian aidZambia – 50 percent of people live on 1.90 dollars a dayChad – Second highest maternal mortality rate in the worldBurundi – 50 percent of children under five are malnourishedZimbabwe – 7 million people need humanitarian aidMali – Eighth-highest child mortality rate in the worldCameroon – 3.9 million people in needNiger – 4.4 million people are acutely food insecure

CARE’s annual “Breaking the Silence” report highlights the crises which received the least media attention over the course of the year.






It’s a MAD, MAD, MAD, World

 



On the 24th January, 2023, the Bulletin of the Atomic Scientists will announce the setting to The Doomsday Clock for 2023. It currently stands at one hundred seconds to Midnight.

“Seoul could arm itself with tactical nuclear weapons if tensions with Pyongyang continue to grow, South Korean president, Yoon Suk-yeol, has said. It comes after North Korean leader Kim Jong-un said  his country would develop a new intercontinental ballistic missile as the US and South Korea were seeking to “isolate and stifle” Pyongyang.

“If the [North Korean nuclear] problem becomes more serious, the Republic of Korea may deploy tactical nuclear weapons or come to possess its own nuclear weapons,” Yoon, who became president last year, said during a government meeting as quoted by local media.

“If that happens, it won’t take long, and with our science and technology, we could have [nuclear weapons] sooner as time passes,” Yoon added

The US pulled its nuclear forces from South Korea in 1991 following disarmament talks with Pyongyang and Moscow. Relations have since deteriorated, with North Korea stepping up missile tests last year and enshrining the right to use nuclear weapons into national law in September. The escalation has rattled Seoul, which is now seeking to strengthen its military alliance with the US and deepen cooperation with Japan.

Yoon said that the allies were discussing holding new joint military drills, including tabletop and computer simulations, as well as exercises involving the “delivery means for nuclear weapons.”

US President Joe Biden, however, denied that Washington was considering joint nuclear drills with South Korea.

Pyongyang has insisted that its launches are a response to US-South Korean exercises, which North Korea views as a national security threat.

North Korean leader Kim Jong-un has called for the country to develop a new intercontinental ballistic missile (ICBM) and boost its nuclear arsenal amid rising tensions on the Korean Peninsula, state-run media reported.

Pyongyang requires “overwhelming military power” to defend itself as Washington and “our undoubted enemy” Seoul try to “isolate and stifle” North Korea with US nuclear assets deployed in South Korean territory, Kim said on Sunday, according to the state-run KCNA news agency.

During a meeting of the ruling Workers’ Party of Korea (WPK), the country’s leader insisted that a new ICBM capable of a “quick nuclear counter-strike” must be developed by North Korea.

Kim stressed the importance of “mass-producing tactical nuclear weapons,” saying “an exponential increase of the country’s nuclear arsenal” would be the “main orientation” of North Korea’s defence strategy in 2023, KCNA reported.

 

 Kim praised the country’s defence industry for delivering 30 new 600mm super-large multiple rocket launchers to the military. He described the nuclear-capable system as the country’s “core offensive weapon,” which can strike anywhere in South Korea with surprise and precision launches.

“We have declared our resolute will to respond with nuke for nuke and an all-out confrontation for an all-out confrontation,” he warned, as quoted by KCNA.

North Korea carried out a record number of missile tests in 2022, some of which involved ICBMs, according to calculations by Western media outlets. And it has already fired a short-range ballistic missile off its east coast in the early hours of the new year. Washington and Seoul have claimed that the North is gearing up for its nuclear test since 2017.

South Korean President Yoon Suk-yeol warned that North Korea would continue with its nuclear and missile provocations, insisting that Seoul’s military should respond to such moves with clear retaliation, according to his office.

Tensions have been on the rise between the two neighbours since Yoon came to power in May and declared a “peace through strength” policy, which is based on further boosting military ties with the US. In late December, Seoul announced an increase in joint drills with the Americans, with 20 such exercises planned for the first half of 2023 alone.”

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Dave C

Exxon Knew

 



Academics analysed data in ExxonMobil’s internal documents and determined that its research predicted how burning fossil fuels would warm the planet even though the company publicly denied the link.

The findings suggest that ExxonMobil’s predictions were often more accurate than even world-leading Nasa scientists.

“It really underscores the stark hypocrisy of ExxonMobil leadership, who knew that their own scientists were doing this very high quality modelling work and had access to that privileged information while telling the rest of us that climate models were bunk,” Naomi Oreskes, professor of the history of science at Harvard University, explained. Oreskes said the findings show that ExxonMobil “knowingly misled” the public and governments. “They had all this information at their disposal but they said very, very different things in public,” she pointed out. Oreskes suggests that it showed the company was internally using climate science when publicly it called the models “speculative” or “bad science”.

The findings are a “smoking gun”, suggests co-author Geoffrey Supran, associate professor of environmental science and policy at the University of Miami.

“Our analysis allows us for the first time to actually put a number on what Exxon knew, which is that the burning of their fossil fuel products was going to heat the planet by about 0.2C of warming every decade,” he said.



“Their excellent climate modelling was at least comparable in performance to one of the most influential and well-regarded climate scientists of modern history,” Prof Supran said, comparing ExxonMobil’s work to Nasa’s James Hansen who sounded the alarm on climate in 1988.

The research, published in the academic journal Science, also suggests that ExxonMobil had reasonable estimates for how emissions would need to be reduced in order to avoid the worst effects of climate change in a world warmed by 2C or more. Their scientists also correctly rejected the theory that an ice age was coming at a time when other researchers were still debating the prospect.



ExxonMobil: Oil giant predicted climate change in 1970s – scientists – BBC News

Children Wasting Away

 United Nations agencies are calling for urgent action to protect the most vulnerable children in the 15 countries hardest hit by an unprecedented food and nutrition crisis.

Currently, more than 30 million children in the 15 worst-affected countries suffer from wasting – or acute malnutrition – and 8 million of these children are severely wasted, the deadliest form of undernutrition. 

“This situation is likely to deteriorate even further in 2023,” said QU Dongyu, Director-General of the Food and Agriculture Organization of the United Nations. “…We need urgent action now to save lives, and to tackle the root causes of acute malnutrition, working together across all sectors.” 

“Today’s cascading crises are leaving millions of children wasted and have made it harder for them to access key services. Wasting is painful for the child, and in severe cases, can lead to death or permanent damage to children’s growth and development. We can and must turn this nutrition crisis around …” Catherine Russell, Executive Director, United Nations Children’s Fund (UNICEF)

“More than 30 million children are acutely malnourished across the 15 worst-affected countries, so we must act now and we must act together. It is critical that we collaborate to strengthen social safety nets and food assistance to ensure Specialized Nutritious Foods are available to women and children who need them the most.” David Beasley, Executive Director, World Food Programme (WFP)

“The global food crisis is also a health crisis, and a vicious cycle: malnutrition leads to disease, and disease leads to malnutrition,” said Dr. Tedros Adhanom Ghebreyesus, Director-General, World Health Organization (WHO).”Urgent support is needed now…”

https://reliefweb.int/attachments/ed013fbf-e0e0-4db0-b0f5-eb9850c6ef4f/FINAL_Jan12_GAP_PressRelease.pdf

UK Exploitation Opportunities Lessening

 Recession fears in the UK are forcing businesses to mothball hiring plans to keep costs at a minimum, a survey by auditing company KPMG and the Recruitment & Employment Confederation (REC) released on Tuesday showed.

Hiring for permanent staff in the UK slumped for a third month in December, falling at the quickest pace since the pandemic lockdowns of early 2021. Vacancies grew at the slowest rate since February 2021 and were accompanied by the weakest pay raise in 20 months, the report said.

The jobs market looks less than rosy at the start of 2023,” a partner in skills and productivity at KPMG UK, Claire Warnes said, adding that “vacancy growth rates are trending down again this month from a historically high peak in July 2021.”

According to REC CEO Neil Carberry, a slowdown in permanent placements is not unusual in December but “this one comes as part of a wider softening trend in the permanent market.”

Starting salaries for permanent staff and pay rates for temporary workers grew at the slowest rate since April 2021, the survey showed, indicating that employers have grown more cautious about hiring and halted plans to take on workers until January, awaiting the next report on this year’s outlook.

Industrial relations turmoil in many sectors, along with the scarcity of available staff in all sectors, means that wage inflation may soften only slightly in the near term,” Warnes said.

Inflation remains one of the biggest concerns of recruitment companies in the UK amid forecasts that the British economy looks set to contract in 2023. The Bank of England has lifted its key rate nine times since December 2021 in an effort to rein in spiralling price growth.

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Dave C.

Socialist Sonnet No. 94


Going Spare

 

The illusion is that news is the news,

When it’s the media, by its selection,

Practicing the art of misdirection

Through deciding what the spectator views

In serious tones designed to convince,

Workers, who’re struggling for half decent pay

While services fail and inflation holds sway,

What a bonus is a disgruntled prince.

Extended interviews entertaining

The notion his life alone is unique.

Then, via book deals and his chance to speak,

Capitalise on his sad complaining.

Certain confirmation this world’s not fair

Being presented with a prince going spare.

 

D. A.