Anticipating fiscal reactions to the shifts in consumer behavior caused by the Covid-19 crisis isn’t easy. But careful observers can find plenty of indicators for how people live and spend money in the new normal.
It’s important to keep in mind many changes, despite the circumstances, aren’t from left field. Nathan
, co-director of global research at Lazard Asset Management characterizes what we’re seeing as a fast-forward of shifts that were already underway.
“On the offline-to-online transition, this looks like it has created a step change, but the direction of travel was already established,” he says. “The longer that Covid has gone on, the more likely it is that enforced changes in consumer habits become learned and persistent. I definitely subscribe to the idea that something’s changed that is somewhat irreversible.”
He uses the example of China’s consumption, which has largely recovered back to 2019 levels. There, online channels
Researchers on the world’s biggest mission to the North Pole will return to dock on Monday, bringing home devastating proof of a dying Arctic Ocean and warnings of ice-free summers in just decades.
The German Alfred Wegener Institute’s Polarstern ship is set to return to the port of Bremerhaven after 389 days spent drifting through the Arctic trapped in ice, allowing scientists to gather vital information on the effects of global warming in the region.
The team of several hundred scientists from 20 countries have seen for themselves the dramatic effects of global warming on ice in the region, considered “the epicentre of climate change”, according to mission leader Markus Rex.
“We witnessed how the Arctic ocean is dying,” Rex told AFP. “We saw this process right outside our windows, or when we walked on the brittle ice.”
Underlining how much of the sea ice has melted away, Rex said
One beneficiary of that acceleration will be leading renewable power producer Brookfield Renewable(NYSE: BEP)(NYSE: BEPC). That’s evident in the company’s updated five-year plan, which forecasts high-powered earnings and dividend growth through at least 2025. Add that visible upside to the company’s already high-yielding dividend, and there’s good reason to believe it will produce substantial total returns for investors over that time frame.
The global decline in air travel will be worse than previously forecast and a new report on corporations’ plans for travel through 2021 shows that the recovery of business travel demand will continue to be sluggish even after one or more Covid-19 vaccines become available, hopefully, in the first half of 2021.
The International Air Transport Association, the airline industry’s global trade group, said Tuesday that global passenger traffic this year will be down a whopping 66% from 2019. Previously IATA had forecast a decline of 63%.
While the revised view is only 3 percentage points worse than IATA’s previous forecast, the enormous numbers of passenger miles
The Chinese government has announced the safe return of a reusable spacecraft, called Chongfu Shiyong Shiyan Hangtian Qi (CSSHQ), to Earth, after spending two days in orbit.
The unmanned spacecraft was launched on Friday, September 4th, 2020, from the Jiuquan Satelite Launch Center in northwest China’s section of the Gobi Desert, before safely returning to its scheduled landing site. The spacecraft’s purpose was reportedly to test reusable technologies that will provide ‘technological support for the peaceful use of space’, although no information about what technologies were tested has been made public.
Adding to this, no pictures nor information of the spacecraft itself have been released into the press either, although the Chinese government did say that it was launched via a Long March-2F carrier rocket. This makes CSSHQ the 14th mission for the rocket, also used by the Chinese to send astronauts into orbit, as well as its own space