Tag Archives: crisis

The biggest fear investors should have with the crisis gripping overly indebted Chinese real estate developer Evergrande is global contagion, argues Goldman Sachs.  “The danger is precisely the contagion effect, should a default occur without clear ‘ring-fencing’ of spillovers to other parts of the real economy or financial sector. Events over the past week suggest risks of inching toward that direction,” said Goldman Sachs Hui Shan in a research note on Monday.  Shan points out that he is… Source link

The financial crisis gripping major Chinese property developer Evergrande has triggered a sharp turn in broader stock market sentiment, as seen by the S&P 500 dropping below its key 50-day moving average.  With news of the Evergrande debacle gaining steam last Friday, the S&P 500 closed the session below the 50-day moving average for the first time since June. The tenuous situation of Evergrande — which includes potential missed debt repayments — gained steam over the weekend and caused… Source link

The student loan debt crisis arose after legislative changes over the years that created a system of largely unchecked lending to millions of students, according to a reporter and author of a new book. “If you just keep on issuing student debt in the same fashion, which is basically giving families a blank check, you’re just going to have more and more families end up in unrepayable debt over the years, and it doesn’t really solve the underlying issue,” Josh Mitchell, Wall Street Journal… Source link

Incredible photos have emerged illustrating the enormity of a country’s ongoing recycling crisis. In Bangladesh’s capital city of Dhaka plastic waste has gone up to 586 tonnes a day in an increase of 424 tonnes since 2005, Dhaka Tribune reports. The country has recently sought to ramp up plastic recycling to tackle the issue. But new photos published by AFP, which show small mountains of plastic bottles and waste inside a recycling plant in Dhaka, highlight the enormity of the… Source link

(Bloomberg) — The pandemic is on the wrong trajectory after six straight weeks of increased cases, according to a World Health Organization officer, who said “vaccines will not end the pandemic.” India is facing an escalating health crisis, with its second wave of infections hitting record highs. The U.K. urged mourners not to gather following the death of Prince Philip, Queen Elizabeth II’s husband, a sign of how longstanding traditions will have to be put aside due to the… Source link

A striking satellite image shows the severity of the shipping traffic jam after a vessel blocked one of the world’s busiest shipping channels for trade linking Asia and Europe. The huge container ship, Ever Given, has blocked the Suez Canal like a “beached whale” and could take weeks to free, the salvage company said, as officials stopped all ships entering the channel on Thursday (local time) in a new setback for global trade. The man-made Suez Canal connects the Mediterranean Sea to the… Source link

Federal Reserve Chairman Jerome Powell added more fuel to the fire for investors already spooked by the spectre of higher inflation and rising interest rates in the bond market. Speaking at the Wall Street Journal Jobs Summit, Powell said he expects the economic reopening to cause some inflation later this year, but that it would be temporary, and it was not enough to make the central bank hike interest rates. That was little consolation to investors, who pushed the Nasdaq (^IXIC) and S&P 500… Source link

Microsoft (MSFT) is officially a cybersecurity giant. For the first time on Tuesday, Microsoft disclosed revenue from its various security offerings as part of its quarterly earnings — $10 billion over the last 12 months. That amounts to a 40% year-over-year jump in the growing security business, making up roughly 7% of the company’s total revenue for the previous year. “We waited in some sense [until] this milestone to show the depth, the breadth, the span of what we are doing,”… Source link

The Telegraph Exclusive: Syrian general accused of war crimes ‘given new life in Europe by Mossad’ A senior Syrian official denied asylum in France due to concerns of possible involvement in war crimes was spirited out of the country with help from the Israeli secret service Mossad to Austria, where he was helped to start a new life, a top judicial source has told The Telegraph. Brigadier General Khaled al-Halabi, who was chief of Syrian intelligence in Raqqa from 2009 until 2013, is also the… Source link