News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.
This week’s reads include:
1. Four articles on the impact of heat and water supply on economies in China, Germany, Spain, and Arizona.
A severe drought has dented energy supplies and disrupted access to water for hundreds of thousands. Cities order rolling blackouts; farmers rush to save crops.
Germany's Rhine river is getting too dry, snarling supply chains and creating more problems for its struggling economy.
Heatwaves and drought in Spain, the world’s largest olive oil producer, are expected to hit the coming harvest
Arizona is leasing farmland to a Saudi water company, straining aquifers, and threatening future water supply in Phoenix.
Ronald O. Perelman made more money than most people could spend in several lifetimes and in the process reshaped the way Wall Street does business. Now his prize company is bankrupt and his beloved possessions are fading away like a mirage. Bad luck or is the old financial wizard offering a final lesson on the future of wealth?
The economic concept, which describes consumers’ sensitivity to prices, is a hot topic as inflation soars and executives fret about profits.
jkaraian (@Jason Karaian) Tweeted: This quarter, CEOs seem obsessed by one thing: "elasticity." It's an economic concept that says a lot about the precarious state of the consumer as inflation soars.
Gen Z vacationers say they are making rigorous budgets behind the scenes to keep track of costs
The signals from central banks that rate hikes, which began last year, may be coming to an end could be welcome news for investors looking ahead to the next 12 months.
Dinosaur Valley State Park saw new tracks as a drought unveiled age-old wonders.