By Eric Lam and Enda Curran 31 October 2019 (Bloomberg) – Hong Kong’s economy contracted sharply in the third quarter as it entered a recession, exceeding economists’ worst estimates of the damage from nearly five months of protests. Third-quarter gross domestic product retreated 3.2% from the previous three months, after a 0.4% contraction in the […]
By David R Baker and Mark Chediak 25 October 2019 (Bloomberg) – PG&E Corp. warned it will shut off power again on Saturday to as many as 2.5 million people as violent winds batter the state — in what will be California’s largest intentional blackout ever. The outages will impact up to 850,000 homes and businesses […]
By Tanza Loudenback 22 October 2019 (Business Insider) – Millennials may bear the brunt of bad press, but Gen X is arguably in worse financial shape. Insider recently teamed up with Morning Consult to survey 2,096 Americans about their financial health, debt, and earnings for its new series, “The State of Our Money.” Of the total respondents, 566 were […]
By Alois Vinga 18 October 2019 (New Zimbabwe) – Extreme poverty in Zimbabwe has risen to 34 percent, with 1 million more citizens now added to the existing 4.7 million, World Bank (WB) said in a recent Poverty and Equity brief. The global lender said there has been a significant growth in the country’s poverty […]
By Christopher Ingraham 8 October 2019 (The Washington Post) – A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class. The Triumph of Injustice, by economists Emmanuel Saez […]
By Nada Hassanein 12 October 2019 SNEADS, Florida (Tallahassee Democrat) – Rodney and Tonya Hewett remember gazing outside the window of their farmhouse during Hurricane Michael. They saw their pool fence flying in the forceful winds, the wooden poles like swords. A deer that tried to run for safety went airborne. The Hewetts have been […]
By Hillary Hoffower 10 October 2019 (Business Insider) – Finances are looking a bit bleak for some Americans. Insider recently teamed up with Morning Consult to survey 2,096 Americans about their financial health, debt, and earnings for its new series, “The State of Our Money.” Findings largely didn’t paint a pretty picture, particularly for millennials and Gen […]
By Ben Butler 9 October 2019 (The Guardian) – The New South Wales government is considering opening two large coal fields to exploration as it seeks to make the state the “number one mining investment destination”, Guardian Australia has learned. The Advisory Body for Strategic Release, which controls the state’s minerals reserves, has written to […]
By Morgan Passi and John McGill 2 October 2019 (CBC Radio) – Think of it as a cash and flow problem. Last month, city councillors in Harare, Zimbabwe shut off their main water plant, blaming a lack of foreign currency needed to import treatment chemicals. The water is back on now — after the national government stepped in. […]
By Farai Mutsaka 24 September 2019 HARARE, Zimbabwe (AP) – Tempers flared on Tuesday as more than 2 million residents of Zimbabwe’s capital and surrounding towns found themselves without water after authorities shut down the main treatment plant, raising new fears about disease after a cholera outbreak while the economy crumbles even more. Officials in Harare have struggled to […]
