Three commodities could take off in 2024 | Will North Korea’s new spy satellite make the region safer? | How luxury giant LVMH built a recession-proof empire | America’s cities are ratcheting up controversial ‘sweeps’ of homeless encampments, but still failing to find a solution: ‘We’re not trash, we’re people’

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� � � � � � Three commodities could take off in 2024 - The Economist    For much of 2023 commodity markets were treading water. Russia’s invasion of Ukraine, on top of supply-chain snarls from covid-19, had sent raw-material prices soaring in 2022. But a subdued economic outlook turned a busy market boring. Some excitement returned in late 2023, as oil prices perked up. But worries about demand kept indices on the floor. In 2024 supply problems, together with resurgent demand, could cause three markets to take off. The first is crude oil. Most analysts reckon that new supply will combine with slow economic growth to cause a gradual decline in price, from more than $90 in September 2023 to $80 a barrel or less during 2024. But that could prompt Saudi Arabia, the world’s biggest producer, to announce deeper output reductions than the 1m barrel-per-day cut—equivalent to 1% of global demand—it adopted in July. Iran’s production may also be dented by sanctions or shipping problems. That could set the stage for a squeeze when economic growth returns. Some metal markets also look vulnerable. Those for cobalt and lithium, two green metals on everyone’s radar in 2022, look well supplied. Instead watch copper, prices for which fell during 2023 because of low Chinese growth. The hottest of all metal markets could be the ultra-niche one for uranium. The search for steady sources of low-carbon power and the war in Ukraine have made governments hungrier for atomic energy just as coups and conflicts have disrupted uranium production. Prices for the metal, already at their highest for a decade, could rise further as market deficits remain. Continued here � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium Will North Korea's new spy satellite make the region safer? - The Economist    The two bitterly opposed parts of the Korean peninsula have something in common: stratospheric ambition. After trying and failing twice to put its first military spy satellite into orbit earlier this year, North Korea claimed to have succeeded on November 21st. South Korea plans to put its first spy satellite into orbit on November 30th. This emerging space race has big implications for regional security. Possessing reconnaissance satellites would improve both Koreas’ ability to defend against, or attack, the other. Up-to-date information is crucial to South Korea’s “Kill Chain”, the pre-emptive strike system it is developing to deter the North from using its nuclear arsenal. Being able to pinpoint the whereabouts of North Korea’s leaders would also lend credibility to the South’s threat to eliminate them if they ever threaten it. The North, deeply fearful of an American invasion, would for its part get early warning of troop movements against its frontier. If war broke out, satellites could help both sides locate and destroy each other’s forces. A lone satellite would be of limited use, however. Anything resembling real-time monitoring requires a network. South Korea therefore plans to launch five satellites by 2025. Kim Jong Un, North Korea’s dictator, said last year he had tasked his scientists with launching “a large number of reconnaissance satellites”. Such a constellation would have more resilience against technical failure or attack. Continued here � � � � � � How luxury giant LVMH built a recession-proof empire - CNBC    Luxury giant LVMH Moët Hennessy Louis Vuitton, more commonly known as LVMH, has grown into a $500 billion powerhouse conglomerate of 75 distinguished brands, or "maisons," rooted in six different sectors — with no plans to slow down. The company recorded revenue of 79.2 billion euros, or about $86.3 billion, last year, an increase of 23% from 2021 revenue. Its store count has more than quintupled over the past two decades, with locations across 81 countries and more than 196,000 employees worldwide. Its stock reached an all-time high in April of above $199 per share, making the Paris-based firm the first European company to surpass $500 billion in market value. Continued here � � � � � � America's cities are ratcheting up controversial 'sweeps' of homeless encampments, but still failing to find a solution: 'We're not trash, we're people' - Fortune    Tossing tent poles, blankets and a duffel bag into a shopping cart and three wagons, Will Taylor spent a summer morning helping friends tear down what had been their home and that of about a dozen others. It wasn’t the first time and wouldn’t be the last. Contractors from the city of Portland had arrived to break down the stretch of tents and tarps on a side street behind a busy intersection. People had an hour to vacate the encampment, one of more than a dozen cleared that July day, according to city data. Whatever they couldn’t take with them was placed in clear plastic bags, tagged with the date and location of the removal and sent to an 11,000-square-foot warehouse storing thousands like them. Continued here

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