By withdrawing aid from Ukraine, Trump is just extending Putin's optimism that he can achieve his goals. He doesn't care about the deaths of his soldiers because he is a brutal dictator. Clearly the EU and US need to boost aid to Ukraine to break the deadlock and achieve peace through strength.

Brexit is a failure but the pro-Brexit Midlands refuses to accept they were wrong and want more Farage. www.bbc.co.uk/news/article...

The latest from the US-China trade war...

The top gold ETF saw assets rise 73% YTD to $130 billion, vs a combined 262% jump to $126 billion for the two largest Bitcoin ones. Those of largest 20+ year Treasury ETF fell 18% to $48.5 billion. Large investors are taking over from jewelry buyers driving gold demand. Clients can read on FFM GO.

First Brands bankruptcy threw a spotlight on contagion risk in an auto industry facing worsening creditworthiness. Supplier Advance Auto Parts fell 16% in three months. 268 institutions held $5.4 billion worth of First Brands loans, with Norinchukin Bank heavily exposed. Clients can read on FFM GO.

I have no way of knowing if it's real. But the last time I saw a youth in a balaclava on a sunny day on Wimbledon Broadway was Saturday. A month ago a guy scratching cocaine bugs on his calves threatened to beat me up for looking at him on the Northern Line. I got away with just a shoulder barge.

Once Microsoft starts publishing electricity/water use for 2025 and 2030, anyone conscious of the environment (my daughter for one) is to relate AI with climate and social catastrophe. Article 9 ESG funds will need to drop tech giant stocks. US, Iran, Libya & Yemen are the only non-COP parties.

Not sure if you are talking to me but this is Alphabet's own figures for their water and electricity use. Not sure what they will be 2025-2030 once they start training AI on more powerful Nvidia chips.

Discussing migration isn't bigoted when the UK faces a fiscal crisis. OBR estimates 2021-2024 migrant wave was a net positive £125 billion for the UK budget. (Farage lied and called it a £234 billion drain.) But high wage migrants contribute more than low wage ones. www.bloomberg.com/opinion/arti...

Markets have been betting on a recovery for clean energy, driven by data center demand, so far this year with little sign of the rally losing steam.

👉 Global AI race may be slowed by water, power shortages.
👉 Droughts in US, China, Latam, Mideast make it hard to cool thermal power stations and data centers, curb hydro output.
👉 36% power generation capacity may be located in high water-stress areas by 2030.
Clients can read on FFM <GO>.