Week of Sep 12

Is a global recession imminent?
The Aviation Crisis Is Now Regional
- The key factor, however, is the shortage of pilots, particularly captains. To plug holes in their staffing, big airlines have gone on an aggressive campaign to poach staff from smaller operators, leaving hundreds of regional planes grounded.
More Workers Head to Picket Lines Amid Higher Inflation and a Tight Job Market
- A long-running strike of 1,100 miners at an Alabama coal mine that started on April 1, 2021, also has shown no signs of being resolved soon.

Energy Markets

Russian natural gas supply to Europe was responsible for 30% of European demand in 2021 (103bcma vs 342). Half of that is replaced by LNG imports (from 51 to 101bcma 2021-2023)
From Shortage to Glut: Scotts Miracle-Gro Is Buried in Fertilizer
- Never in the modern global economy have businesses seen such a rapid shift from shortage to glut. After two years of struggling to fill store shelves, the company had ramped up production to catch up with consumer demand for lawn seed, fertilizer and other garden products

FedEx

FedEx has withdrawn its annual financial guidance after a poor 1Q FY23 quarter, particularly over the last few weeks of August. When the package-delivery giant sneezes, it’s a clear sign the global economy has caught a cold
FedEx $FDX is -17% after pulling its full year guide due to macro-economic trends that "worsened significantly later in the quarter both internationally and in the US."
FedEx CEO says he expects the economy to enter a ‘worldwide recession’

Uber Hack

Uber was hacked. The hacker social engineered an employee -> logged into the VPN and scanned their intranet.

Dollar