Category: crisis
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Inside Lebanon’s Currency Crisis: How Hyperinflation Feels
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Lebanon is back in the news as conflict intensifies in the Middle East. Before these latest developments, Lebanon had already become a symbol of how quickly a seemingly stable society can slide into chaos. If you follow major events in the global economy, you may remember that Lebanon’s recent past…
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Inside Lebanon’s Currency Crisis: How Hyperinflation Feels
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Lebanon is back in the news as conflict intensifies in the Middle East. Before these latest developments, Lebanon had already become a symbol of how quickly a seemingly stable society can slide into chaos. If you follow major events in the global economy, you may remember that Lebanon’s recent past…
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Housing crisis: America needs to ‘build, baby, build’
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Supply is the heart of the housing problem—we’re missing millions of homes. Mortgage rates are also important, but not nearly enough. Nick Villa, an economist at Moody’s, has said that lowering interest rates won’t solve the housing crisis. Now that the Fed has cut its key interest rates by a…
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Crisis looms at varsities after talks by State, lecturers collapse
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Talks aimed at averting a nationwide work boycott by university professors and non-teaching staff have collapsed, paving the way for a strike to begin at midnight. The strike was called by the University Academic Staff Union and the Kenya Universities Staff Union. It comes just a week after students called…
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Housing crisis leaves 21 hopeful tenants battling for each rental property
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The UK rental market is facing a severe crisis, with an average of 21 potential tenants competing for every available property, while the number of homes available to rent continues to shrink. According to Zoopla, a leading property search platform, the availability of homes for rent is now 24% lower…
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Two million self-employed workers face pension crisis, warns IFS
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The Institute for Fiscal Studies has warned that nearly two million self-employed workers in the UK face an imminent pension crisis due to insufficient savings. The latest report reveals that only 500,000 self-employed people earning more than £10,000 a year contribute to a pension, leaving 1.8 million people with no…
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What’s Happening? Is This Bitcoin (BTC) Resistance Unbreakable? Ethereum (ETH) On Verge of Fundamental Crisis? By U.Today
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U.Today – The stock price has moved little or no over the past few weeks, and it continues to falter. SHIB stock has made multiple attempts to move out of its current trading range, but it has been unable to build much momentum, leaving investors and traders in a state…
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Urgent reforms needed to tackle mounting debt crisis in Africa
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Africa’s debt stocks have grown significantly over the past decade. Understandably, African governments took advantage of historically low interest rates in the 2000s and borrowed heavily from international capital markets and China. But debt has become more expensive lately. Since 2020, the impacts of COVID-19 and the ongoing war in…
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Guild Esports, backed by David Beckham, faces financial crisis after burning through £26.6M
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Guild Esports, a gaming group backed by David Beckham, is on the verge of collapse less than four years after its high-profile listing on the London Stock Exchange. The company, which competes in video game tournaments on titles such as Fortnite and Tekken, has warned shareholders of its dire financial…
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Heatwave deaths expose air conditioning crisis: Elderly and minorities most at risk
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Mexican farmworker Avelino Vasquez Navarro did not have air conditioning in the mobile home he died in last month in Washington state when temperatures soared into the hundreds of degrees. For the past 12 years, the 61-year-old has spent most of the year working near Pasco, Wash., sending money to…
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Prince’s Trust warns of ‘digital skills crisis’ as over third of young people lack confidence in securing tech jobs
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The Prince’s Trust, in collaboration with Solutions Research and supported by Cognizant, has released a new report highlighting the growing ‘digital skills crisis’ among young people in the UK. According to the findings, more than a third of young people (37%) are concerned that they lack the digital skills needed…
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Price Skyrockets 40% During US Banking Crisis
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Bitcoin, an obscure digital currency, is back in the spotlight as the US banking system faces mounting pressure. While some predict a massive rise to $1 million per coin, fueled by economic woes, others remain skeptical. Related reading Banking on the rise of Bitcoin? Bitcoin Supporters see it as a…
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Surrey Village Pub Suffers Amid Water Contamination Crisis
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A pub owner in Bramley, a village near Guildford in Surrey, claims his business is suffering due to a water contamination problem that has led to a ‘do not drink’ notice being issued. Hundreds of residents have been warned not to use their tap water after concerns linked to a…
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Housing market crisis: Landlords and investors in the rental space are thriving, top real estate leader says
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It’s no secret that we’re in the midst of an affordability crisis in the housing world. Things have not been the same since the beginning of the pandemic; House prices high and Mortgage rates Also high. For some, the idea of owning a home has become more distant, if not…
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UK Households with No Work Reach 12-Year High Amid Labour Crisis
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The number of UK households in which no adult is working has reached a 12-year high, highlighting a deepening jobs crisis that experts warn is stifling Britain’s economic growth. In the first quarter of this year, there were 269,000 non-student households in which no adult was employed at all, the…
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Housing crisis: Top real estate economist calls the housing market unaffordable
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If there was one word to succinctly describe the world of housing right now, what would it be – perhaps unaffordable? That’s what it looks like for Redfin’s chief economist, Chen Zhao, who said earlier this week: “Affordability is actually the story in the housing market right now.” in Interview…
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British Businesses Face £42bn Debt Crisis Post Ultra-Low Rates Era
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UK businesses are bracing for a debt crisis as higher interest rates are expected to cost an extra £41.7bn by the end of the decade. As cheap loans expire, borrowing costs are expected to rise, significantly impacting the economy. According to consultancy Baringa, companies will face an average annual increase…
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Auto theft crisis deepens as insurance claims top $1.5 billion
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Article content Canada’s auto theft crisis is worsening, with insurance claims costs exceeding $1.5 billion for the first time. New data from the Insurance Bureau of Canada (IBC) shows insurance providers handled 49,679 claims related to stolen vehicles in 2023, with costs exceeding $1.54 billion for the year. Overall, the…
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Factbox-Details of the humanitarian crisis in Gaza By Reuters
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(Reuters) – The Gaza Strip has been suffering from an ongoing humanitarian catastrophe for nearly seven months since Israel launched a devastating offensive in response to the Hamas-led attacks on October 7 that killed 1,200 people in Israel. More than 34,600 people were killed in the Israeli offensive that destroyed…
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Crisis in Palestinian-Run West Bank Clouds Post-War Gaza Hopes
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Breadcrumb links BMN Business The new Palestinian prime minister is a former World Bank executive and has pledged to fight corruption and waste. The Finance Minister worked for PricewaterhouseCoopers. The Ministry of Foreign Affairs is headed by a woman who holds an American doctorate and has deep experience in the…