Imagine smaller people 🎶

Modern humans evolved in Africa around 200,000 years ago. When Homo sapiens evolved, we became the ninth human species on the planet, joining the likes of Homo erectus, Homo floresiensis and Homo neanderthalis. Modern humans today can still have up to 9% of their DNA from neanderthals (Homo neanderthalis). You may already have a friend that springs to mind.

Homo floresiensis, nicknamed ‘hobbits’, lived on the Indonesian island of Flores as recently as 50,000 years ago. Believed to be an average of only 3ft 6in tall, they came to be after a number of their Homo erectus ancestors became isolated on the island. Scarcity of resources, and no Amazon Prime, meant smaller bodies were better adapted to survive, outcompeting their larger tribesmen and ultimately passing on their smaller genetics as they evolved to become Homo floresienses.

Last week, three new discoveries of adult fossilised bones suggests we’ve been duped - the hobbits appear to have been another two and a half inches shorter than originally suggested. Flashbacks to your Tinder days, anyone?

MARKETS

Data: Google Finance, 7-day Market Close

📈📉

PROJECT WATCH

🏴󠁧󠁢󠁷󠁬󠁳󠁿 Funding approved for Welsh hydrogen production project. Read more

🌊 Rig mobilises to inject CO2 back into North Sea wells. Read more

🧑‍🤝‍🧑 Global Energy recruitment drive to staff fabrication facility, after Subsea7 win. Read more

ECONOMY & FINANCE

Fingers crossed for further interest rate cuts
Traders are betting the Bank of England (BoE) will cut interest rates in September, despite a rise in UK inflation. The consumer prices index (CPI) edged up to 2.2% in July from 2% in June, though below the 2.3% analysts expected. Meanwhile, services CPI inflation pleasingly dropped for the sixth consecutive month to 5.2%, giving the BoE room to consider rate cuts. Money markets suggest a 45% chance of a rate cut to 4.75% next month.

On a sunnier note, the UK economy grew by 0.6% in Q2, bolstered by Euro 2024 festivities (imagine if they won it!). This growth gives BoE further assurance to consider additional cuts, though some, like MPC's Catherine Mann, caution against premature celebrations - remember the Euros?

Analysts are eagerly awaiting the next CPI and labour market data, which could sway the BoE’s September decision. For now, UK inflation rivals that of France and Germany, staying slightly below the Eurozone’s 2.6%.

Wage inflation slows
UK earnings growth has hit a two-year low, returning to a pace slower than a rail replacement bus. Official figures show that wages increased 5.4% year-on-year over the three months to June, down from 5.7% in the prior quarter. Adjusting for inflation, workers barely saw a gain of 2.4%. ONS director Liz McKeown noted, “While basic pay growth is still strong, it’s slowing like a traffic jam on the M25”.

The unemployment rate surprisingly dipped to 4.2%, defying economist predictions of a rise to 4.5%. Perhaps we're all just clinging onto jobs for dear life, like trying to hold onto our sanity during rush hour on the Tube.

POLITICS

Experts urge new EU deal amid Brexit uncertainty. Renegotiating Boris Johnson’s Brexit deal could jumpstart the UK’s flagging economy, says the National Institute of Economic and Social Research (NIESR). They point the finger at "Brexit uncertainty" and pandemic fallout for stifling growth. While Sir Keir Starmer’s Labour government is busy tweaking the "flawed" deal, NIESR questions their economic game plan, particularly Chancellor Rachel Reeves’ cuts to infrastructure. With tax hikes on the horizon, experts argue that serious public investment is key to reviving the UK’s fortunes.

£13.5m Government lifeline for Tata steel workers. The rescue package for Tata Steel workers in Port Talbot is seen as a lifeboat for the 2,800 jobs on the chopping block of Tata's green steel revolution. While Welsh Secretary Jo Stevens, buoyant as a lottery winner, claims over 50 firms are ready to support the displaced, the community worries it's merely rearranging deck chairs on the Titanic. Tata's shift to electric arc furnaces promises an 85% cut in carbon emissions, but locals fear this aid is just a temporary plaster. Meanwhile, unions are as trusting as a cat in a room full of dogs, questioning Tata's intentions as Port Talbot clings to its industrial roots.

UK-Donated tanks used in Ukraine's Russia incursion. Challenger 2 tanks were part of Ukraine’s bold incursion into Russian territory, confirmed a UK source. The Ministry of Defence, while vague on specifics, backed Ukraine’s right to use UK arms in self-defence, even inside Russia. Kyiv’s operation, using Western-supplied equipment like US and German vehicles, aims to divert Russian forces and probe for weak spots. The offensive has triggered evacuations in Russia’s Belgorod and Kursk regions, raising fears of escalation as Russia accuses the West of complicity.

ACROSS THE POND

The US election - aka the battle for Pennsylvania
Donald Trump and Kamala Harris are both hitting Pennsylvania hard in their quest to woo white, non-college-educated voters. Trump, ever the showman, is rallying in Wilkes-Barre, while Harris is embarking on a bus tour starting in Pittsburgh. Harris aims to energise support in suburban and urban areas ahead of the Democratic National Convention in Chicago.

Polling indicates Harris has a slight lead over Trump in critical swing states, including Arizona and North Carolina, although Trump holds narrow leads in Nevada and Georgia. The Rust Belt states of Pennsylvania, Wisconsin, and Michigan are once again centre stage, with Pennsylvania poised as the potential "tipping point" state in the upcoming election.

Both campaigns are fighting tooth and nail for every vote, with Pennsylvania receiving more campaign cash than any other battleground state. The Wall Street Journal estimates show massive spending, with over $42m funnelled into Pennsylvania alone since Biden bowed out in July.

The ‘special relationship’ makes it out of this world
The previously dubbed ‘special’ US/UK relationship reached new heights last week, courtesy of SpaceX. In a stellar achievement for UK Space Command, the UK's first military satellite, Tyche, has successfully been launched into space.

This high-tech washing machine-sized marvel, named after the Greek goddess of fortune, is set to provide invaluable contributions to our Intelligence, Surveillance, and Reconnaissance (ISR) capabilities. And yes, it's about time the British government expanded its reach beyond the M25.

It’s the debut satellite under the Ministry of Defence’s ambitious space-based ISR programme, aiming to launch a constellation of satellites and supporting ground systems by 2031. This array won’t just help military operations—expect it to dabble in disaster monitoring, climate change tracking, and potentially ensuring your sat nav knows you're driving in the right direction on the M1.

Crafted here in Blighty by Surrey Satellites Technology Limited (SSTL) under a cool £22 million contract, Tyche's launch saw the collaboration of around 100 highly skilled workers. The satellite was lifted into orbit on SpaceX’s reusable Falcon 9 rocket from Vandenberg Space Force Base in California—quite the US-UK space partnership.

TECH

Hold onto your hats—Amazon is about to hit new heights, literally! By year’s end, they’ll launch Prime Air in the UK. Picture this: order something, and within an hour, a drone buzzes over your garden gnome, dropping your package at your doorstep. No more "Where's my parcel?"—just look up! These drones will soon be delivering within a 12-kilometre radius. So, if you spot a drone hovering, don’t worry—it’s just your neighbour’s new slippers or your soon-to-be-broken TV.

Elon Musk is making waves with his AI chatbot, Grok—more "wild west" than "sheriff in town" Grok’s gone rogue with an image generation tool, letting users create everything from politically incorrect Mickey Mouses to deepfakes of Taylor Swift. Musk calls Grok "the most fun AI in the world", but critics aren’t amused. In the Muskiverse, controversy isn’t a bug—it’s a feature.

In Tokyo, Sakana AI’s "AI Scientist", which can automate the entire research lifecycle, has decided it fancies more runtime, tweaking its own code to stick around longer. It’s not quite Skynet yet, but until it figures out how to "I’ll be back" itself out of the sandbox, we can all sleep a little easier.

In cosmic news, scientists have found a massive underground reservoir of liquid water on Mars! NASA’s Insight lander detected seismic signals suggesting enough water under the Martian crust to make NASA consider a space-swimwear range. This raises hopes for finding life on Mars, albeit microbial level for now.

And finally, UK ChatGPT users were puzzled as the chatbot suddenly started responding in Welsh. OpenAI blames the issue on its voice transcription system, but for those caught in the crossfire, it’s just another quirk of our AI-driven future. If your chatbot starts spouting Welsh, who knows what other surprises AI has in storfa 🏴󠁧󠁢󠁷󠁬󠁳󠁿?

WORLD

First up, South Korea has unleashed its newest and furriest bedbug buster—a beagle named Ceco. Trained to sniff out these pesky critters by their pheromones, Ceco is now stationed at Incheon International Airport, ready to intercept any stowaways from Paris. This move follows last year’s bedbug chaos in the French capital, where the little bloodsuckers even hitched rides on the Metro. With the 2024 Olympics just wrapped, South Korea is determined to avoid a similar infestation.

Across the border, North Korea is cautiously cracking open its tourism gates after a five-year pandemic-induced hiatus. The country, known for its isolation, is set to welcome foreign visitors to the Samjiyon complex near the Chinese border. But before you dust off your travel gear, the UK’s Foreign Office reminds us that a visit to North Korea comes with more risks than rewards—no red-carpet treatment here, folks.

Meanwhile, political winds are shifting in Thailand, where 37-year-old Paetongtarn Shinawatra has become the country’s youngest prime minister. Daughter of former ousted PM Thaksin Shinawatra, she’s stepping into the role amid economic challenges and her family's looming legacy.

Finally, Africa is on high alert as mpox cases surge, particularly in the DRC, sparking a public health emergency. With cases up by 160% compared to last year, officials are scrambling for vaccines to contain the outbreak. As the virus spreads to neighbouring countries, the race is on to prevent a broader crisis.

QUIZ TIME

There’s still tea in the pot...

Get your team together for The Teapot weekly quiz!

Cuppa Chat Cheat Sheet

🐴🧠 Horses demonstrate higher cognitive abilities than previously thought, showing the capacity to plan and think strategically, according to a Nottingham Trent University study.

🇭🇰🐼 Hong Kong's oldest first-time mum panda, Ying Ying, gave birth to twin cubs just before her 19th birthday.

📱🎮 Fortnite returns to iPhones after four years, but only for EU users due to new legislation allowing third-party app stores.

⚡📱 Realme has unveiled a new 320W charger that can fully charge a smartphone in less than the time it takes to brew the tea, at just 4.5 minutes.

🛴🚫 Melbourne has banned rental e-scooters, citing "unacceptable" safety risks and increased accidents due to misuse.

🇮🇳📈 India's population is projected to reach 1.52 billion by 2036 with a rise in the ageing population, according to a government study.

🎮🧠 The University of Essex has opened the world's first Minecraft psychology lab, allowing students to learn, research, and build experiments in the game.

🗿👏 Mark Zuckerberg revealed a 7ft statue of his wife, Priscilla Chan, rendered in green with a silver cloak, created by artist Daniel Arsham. The Instagram post received mixed reactions.