Anthropic sets IPO price range valuing it at up to $1.4tnRussia, Ukraine and US resume Abu Dhabi talks as Europe's role is contestedTrump calls Iran war "effectively over" as Tehran denies talksNvidia shares fall as FBI and board probe CEO Huang's affairSaudi Arabia intercepts missiles over Riyadh as Houthi war escalatesHot US inflation cements Fed hike as ECB and Bank of England lean toward more tighteningThree tankers burn in Hormuz as US and Iran contest the straitRussia hits Ukraine's grid and Dnipro bridges as Ukrainian drones hit Russian industryArrests ordered after deadly Izmir steel plant explosionHegseth calls impeachment bid 'sabotage' as House vote nearsAustralia to create AI safety regulator after OpenAI agent breachFrance summons Iran's envoy and weighs sanctions over supermarket fridge cyberattackBrazil tables fossil-fuel exit roadmap at COP31 as Guterres urges actionChina's trade surplus passes $1 trillion as exports keep surgingUS moves tankers from second UK base after Iran threatGaza floods leave tents under water as Israeli strikes go onOil falls below $90 as Hormuz LNG and crude flows recoverSoftBank swings to loss while TSMC shows resilient AI chip demandCanary Islands declare emergency as nearly 6,000 migrants arrive in ten daysIran lifts 2,000 km missile range limit and unveils underground missile cityMerz threatens to block EU budget unless all members share Ukraine fundingFog-driven motorway pile-up kills at least 12 in BulgariaPoland mourns Krakow shooting victims as gunman's interest in Breivik emergesUS, China and Russia struggle to agree format for planned APEC leaders' meetingViolence in northern Nigeria drives tens of thousands into NigerIsrael's new Knesset sworn in without a governmentIndonesian vice president Gibran to resign, presidential office saysRussia-linked espionage arrests in Poland and the UK, including a US soldierCalifornia voters reject one-time billionaire wealth taxGulf states approve military command headquarters in KuwaitParaguay reimburses depositors after Ueno Bank seizureBangladesh tribunal warns Hasina faces execution if she returnsIsraeli forces kill 14-year-old in West Bank as arson attacks continueHungary detains Viktor Orbán's brother in people-smuggling probeGovernments tighten rules on minors' online safety and AI assistantsData-centre backlash grows in the US, Nordic Europe and ThailandAlibaba's chip unit T-Head files confidentially for Hong Kong IPOPope Leo draws an estimated 2.5 million to Mass in Buenos AiresMalaysian court clears Najib to start house arrestPentagon removes WuXi AppTec from list of Chinese military companiesUS skips UN human rights review againLast Russian diesel tanker bound for US turns backSpanish train drivers strike after two deadly crashes as nationwide walkout loomsSaudi liquidity squeeze adds pressure as PIF weighs fundraisingEgypt detains rail staff as inquiry finds safety failures before deadly crashAnthropic sets IPO price range valuing it at up to $1.4tnRussia, Ukraine and US resume Abu Dhabi talks as Europe's role is contestedTrump calls Iran war "effectively over" as Tehran denies talksNvidia shares fall as FBI and board probe CEO Huang's affairSaudi Arabia intercepts missiles over Riyadh as Houthi war escalatesHot US inflation cements Fed hike as ECB and Bank of England lean toward more tighteningThree tankers burn in Hormuz as US and Iran contest the straitRussia hits Ukraine's grid and Dnipro bridges as Ukrainian drones hit Russian industryArrests ordered after deadly Izmir steel plant explosionHegseth calls impeachment bid 'sabotage' as House vote nearsAustralia to create AI safety regulator after OpenAI agent breachFrance summons Iran's envoy and weighs sanctions over supermarket fridge cyberattackBrazil tables fossil-fuel exit roadmap at COP31 as Guterres urges actionChina's trade surplus passes $1 trillion as exports keep surgingUS moves tankers from second UK base after Iran threatGaza floods leave tents under water as Israeli strikes go onOil falls below $90 as Hormuz LNG and crude flows recoverSoftBank swings to loss while TSMC shows resilient AI chip demandCanary Islands declare emergency as nearly 6,000 migrants arrive in ten daysIran lifts 2,000 km missile range limit and unveils underground missile cityMerz threatens to block EU budget unless all members share Ukraine fundingFog-driven motorway pile-up kills at least 12 in BulgariaPoland mourns Krakow shooting victims as gunman's interest in Breivik emergesUS, China and Russia struggle to agree format for planned APEC leaders' meetingViolence in northern Nigeria drives tens of thousands into NigerIsrael's new Knesset sworn in without a governmentIndonesian vice president Gibran to resign, presidential office saysRussia-linked espionage arrests in Poland and the UK, including a US soldierCalifornia voters reject one-time billionaire wealth taxGulf states approve military command headquarters in KuwaitParaguay reimburses depositors after Ueno Bank seizureBangladesh tribunal warns Hasina faces execution if she returnsIsraeli forces kill 14-year-old in West Bank as arson attacks continueHungary detains Viktor Orbán's brother in people-smuggling probeGovernments tighten rules on minors' online safety and AI assistantsData-centre backlash grows in the US, Nordic Europe and ThailandAlibaba's chip unit T-Head files confidentially for Hong Kong IPOPope Leo draws an estimated 2.5 million to Mass in Buenos AiresMalaysian court clears Najib to start house arrestPentagon removes WuXi AppTec from list of Chinese military companiesUS skips UN human rights review againLast Russian diesel tanker bound for US turns backSpanish train drivers strike after two deadly crashes as nationwide walkout loomsSaudi liquidity squeeze adds pressure as PIF weighs fundraisingEgypt detains rail staff as inquiry finds safety failures before deadly crash
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Narrative thread · 5 events

El Niño crop losses

Symbolic image: El Niño crop lossesSymbolic image

Where things stand

Europe's drought has cut the Rhine at Kaub to a record six centimetres, halting most freight, while Hungary sinks barges to cool a reactor. Forecasters now put 95 percent odds on a very strong El Niño by late 2026.

El Niño is a recurring warming of the tropical Pacific that shifts rainfall patterns worldwide, bringing dry spells to some farming regions and heavy rain to others. Grain traders, farm agencies and importing countries track it because harvest shortfalls in several producer regions at once feed through to world food prices.

Timeline in detail

Sunday, 16 August 2026Economy

Forecasters put 95 percent odds on a very strong El Niño

Telesur reported on Saturday that the El Niño-Southern Oscillation has a 95 percent chance of becoming very strong by late 2026. Forecasters expect effects on rainfall, farming, food supplies and markets across Latin America.

Sunday, 16 August 2026EconomyRhine hits record low at Kaub as Hungary sinks barges to cool reactor

Rhine hits record low at Kaub as Hungary sinks barges to cool reactor

The Rhine gauge at Kaub fell to six centimetres overnight into Saturday, the lowest ever measured there, halting most freight. Hungary is sinking two barges to raise the Danube at its nuclear plant's cooling intake.

HandelsblattFAZTASSHandelsblatt

Saturday, 15 August 2026EconomyEurope's drought brings harvests forward and cuts river power

Europe's drought brings harvests forward and cuts river power

Extreme heat has pushed Europe's harvests weeks early and cut yields. Low rivers are throttling freight and reactor cooling; Britain gave farmers £65m on Friday.

Le MondeThe GuardianDaily SabahThe National

Friday, 14 August 2026EconomyEarly-onset El Niño takes a toll before its peak

Early-onset El Niño takes a toll before its peak

The New York Times reports that El Niño has set in early this year and is already disrupting weather around the world. The peak of the pattern could still be months away.

Thursday, 13 August 2026EconomyRecord El Niño hits three continents as USDA cuts US corn yield forecast

Record El Niño hits three continents as USDA cuts US corn yield forecast

The US Department of Agriculture made a bigger-than-expected cut to its corn yield projection on Wednesday, sending prices sharply higher. A record El Niño, expected to peak later this year, is already causing dry spells and crop failures on three continents, the New York Times reports.