European gas futures surged to a record for a fourth consecutive day, as supplies remained stubbornly low. Meanwhile, year-ahead German and France power prices also reached new highs. With just two days before the region’s official heating season starts, concerns remain over flows from Russia after a colder and longer winter depleted the continent’s stockpiles to the lowest in more than a decade for this time of the year. https://www.bloombergquint.com/business/european-gas-rises-again-as-countdown-to-heating-season-begins

North Carolina USA- Bandwidth, a growing global provider of communications services such as 911 access to a host of tech giants, is “fully operational” again after being hit by a cyber attack that affected numerous services. The attack triggered an apology from Bandwidth’s CEO. Bandwidth’s customers include Microsoft, Google, Zoom and many others that utilize internet-based services in Bandwidth’s product portfolio. https://www.wraltechwire.com/2021/09/29/raleigh-based-communications-provider-bandwidth-hit-by-cyberattack-ceo-apologizes/

Metal consumers in China, from appliance makers to auto, construction and solar panel firms, are readying themselves to face potential supply shocks after power curbs and shortages forced several smelters to cut production in recent weeks. https://www.reuters.com/world/china/chinas-metal-consumers-feel-supply-sting-forced-power-cuts-2021-09-29/

A coalition of unions that represent shipping workers around the world has warned of an imminent 'global transport systems collapse'. The warning comes as supply-chain backlogs leave scores of cargo ships idling outside US ports, exacerbating shortages caused by a national truck driver shortage that threatens to derail the Christmas shopping season. 'We are witnessing unprecedented disruptions and global delays and shortages on essential goods including electronics, food, fuel and medical supplies,' the shipping workers warned. https://www.dailymail.co.uk/news/article-10044311/International-shipping-workers-warn-global-transport-systems-collapse.html

The hyperinflation in European gas and electricity prices is getting more surreal by the day. Two days after we said that European natural gas and power prices hit escape velocity after Russia unexpectedly cut supplies, prices jumped to records, signaling the supply shortage will only get worse just as the cold winter season starts. https://www.zerohedge.com/markets/european-gas-power-hyperinflation-getting-more-surreal-day

Visa has released a whitepaper for the Universal Payment Channels, a “hub-and-spoke” model for interoperability among various distributed ledger technologies. Visa has suggested that central bank digital currencies (CBDC) and stablecoins should be interoperable. https://finance.yahoo.com/news/visa-publishes-whitepaper-cbdc-stablecoin-081416285.html

The cost of producing food is set to increase with the Chinese government expected to restrict the production and export of a crucial agricultural fertiliser. China's economic planning body, the National Development and Reform Commission (NDRC), is moving to restrict the production and export of phosphates until the middle of next year. https://www.abc.net.au/news/rural/2021-10-01/china-expected-to-stop-phosphate-exports/100505026

Chicago wheat futures surged on Thursday, after the federal government reported that U.S. supplies of wheat have fallen to their lowest level since 2007 - and that the wheat harvest is the smallest seen in 19 years. https://www.nasdaq.com/articles/grains-wheat-futures-surge-as-u.s.-supplies-drop-to-14-year-low-2021-09-30

Soaring European gas and electricity prices are getting worse by the day, forcing a vast network of Dutch glasshouses, the largest on the continent, to limit output or go entirely dark. This could have a devastating impact on food supplies and boost prices ahead of the holiday season. https://www.zerohedge.com/commodities/dutch-greenhouses-go-dark-energy-crisis-worsens-food-inflation-fears-mount-europe

Costco confirmed it will start limiting purchases on essential household products for what has become a perfect storm of supply chain delays for many retailers. "We are putting some limitations on key items like bath tissues, roll towels, Kirkland Signature water, high demand cleaning-related skews related to the uptick in the delta-related demand," https://www.foxbusiness.com/markets/costco-limit-purchases-supply-chain-inflation-pressure

As the frontier of Europe’s energy crisis moves north, dwindling water stocks are exacerbating the squeeze in the Nordic region. Nordic power prices were five times higher in September than a year ago. That’s hitting everyone from power-hungry factories and miners, to students struggling with their bills. Inflation is rocketing. https://www.bloomberg.com/news/articles/2021-10-03/europe-s-power-crisis-is-moving-north-as-water-shortage-worsens

Besides central bank digital currency (CDBC) issuance, the IMF further recommends “proportionate regulation to the risk and in line with those of global stablecoins.” In addition to CBDC implementation, de-dollarization policies will help governments tackle macro-financial risks. https://cointelegraph.com/news/imf-recommends-cbdc-and-global-crypto-standards-for-financial-stability

Africa- Zimbabwe - The statement attributed the decline in world supply to drought and floods, which has increased the cost of importing the grain into the country. https://bulawayo24.com/news/national/209834

Annual food inflation of nearly 30%, a global jump in commodity prices and the sharp depreciation of the lira currency have driven inflation higher throughout the year. https://news.yahoo.com/turkey-open-1-000-markets-151703460.html

“It’s a perfect storm of supply events right now. We’re in a pretty crazy market,” Lawson added. “I’d say nitrogen fertilizer (prices have) moved the highest because of the issues in Louisiana and the issues in Europe. Those are where you make fertilizer with urea and UAN (urea ammonium nitrate), a liquid form of nitrogen which is quite popular in Canada.” https://www.agcanada.com/daily/perfect-storm-causes-fertilizer-price-spikes

UK - Millions of pounds were swiped from Barclays accounts in a series of coordinated cyberattacks by a fraudster using a Monzo account and a payments initiation service provider (PISP), PISPs are a newer concept, introduced by the revised European Payment Services Directive (PSD2), and give retail customers the ability to pay companies directly from their bank account instead of using a debit or credit card. https://www.pymnts.com/news/security-and-risk/2021/barclays-hacked-cyberthieves-monzo-account-pisp/

The People’s Bank of China, the country's central bank, has announced that all transactions of crypto-currencies are illegal, effectively banning digital coins. "Virtual currency-related business activities are illegal financial activities," the bank said. It added that cryptocurrencies, including Bitcoin and Tether, are not fiat currencies and cannot be circulated. https://oilprice.com/Finance/the-Markets/Is-Chinas-Digital-Yuan-The-Death-Knell-For-Crypto.html

Britain faces a ‘double whammy’ of food-price rises that will squeeze consumers already facing drastic hikes in energy and household bills. David Sables, a food industry veteran who helps suppliers negotiate with big firms, said the first set of price hikes were linked to rising cost of commodities, raw materials and labour in recent months. https://www.msn.com/en-gb/money/other/uk-faces-a-double-whammy-of-food-price-rises-that-squeezes-consumers/ar-AAP4LGH

Household electricity bills will rise by 29.8% for the typical family and gas bills will go up by 14.4%, Italy’s energy regulatory authority Arera confirmed. he increase comes amid surging energy costs across Europe, and beyond. https://www.zerohedge.com/markets/electricity-bills-italy-rise-almost-30-percent-friday

UK- Food banks have said they will have to shrink the size of the parcels they give to struggling families owing to declining stock levels caused by the HGV crisis, supply shortages and a collapse in public donations. https://www.theguardian.com/society/2021/oct/04/food-banks-warn-of-smaller-parcels-due-to-hgv-supply-shortages

Russian wheat export prices rose for 12th consecutive week, supported by robust demand and following higher global benchmarks. Russian wheat with 12.5% protein loading from Black Sea ports for supply in the first half of November was $307 a tonne, free on board (FOB), at the end of last week, https://www.nasdaq.com/articles/russian-wheat-up-for-12th-week-amid-higher-global-benchmarks-2021-10-04