In today’s recap, Marcello talks about how Elon Musk’s SpaceX has successfully launched its new Starship spacecraft and super heavy rocket. The spacecraft exploded mid-air a couple minutes after the blast-off, but the launching exercise was still considered successful. Asian nations are experiencing hot temperatures, which may have an impact on global rice supplies.
A new rule from the Biden administration will force U.S. home buyers with good credit scores to pay higher mortgage rates, in order to subsidize loans to those with riskier borrowing profiles. The fee, which will apply to those buying or refinancing houses after May 1, will affect home buyers with credit scores of 680 or higher, amounting to roughly $40 per month on a home loan of $400,000, or nearly $500 per year. Home buyers who make down payments of 15% – 20% will be hit with the largest fees.
Chile’s President Gabriel Boric announced on Thursday he will nationalize the country’s lithium industry, the world’s 2nd largest producer of the metal essential in electric vehicle batteries, to boost its economy & protect its environment. The move shocked investors in the country with the world’s largest lithium reserves. In time there will be a transfer control of Chile’s vast lithium operations from industry giants SQM & Albemarle to a separate state-owned company.
Scorching temperatures are hitting Asia this week, stretching the region’s power grids & raising health risks as the chances of even more extreme events later in the year increase.The worst drought in a decade is impacting a key Chinese aluminum hub, while soaring temperatures in India have increased the possibility of deadly heat waves & power blackouts. Thailand hit a national record of more than 45C (113F) last week, while countries such as Bangladesh are also seeing April temperatures well above 40C.
Insect farming startup Ynsect SAS secures more funding as it expands globally & looks to prioritize higher-value food for pets & human; The U.K. has western Europe’s highest rate of consumer price inflation; Fox News settles legal threat $787.5M defamation settlement with Dominion Voting Systems(CPI); Cost of insuring US sovereign debt has exploded to a record high; Research team off coast of Cartagena, Colombia discovered a wreck containing a treasure WITH gold, silver & jewels worth billions of dollars.