Earthquake hazard and risk: Explanation of what it means Sign up HERE for science breakthroughs in health, business and more that matter SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The United States Geological Survey (USGS) indicates that a strong shake was felt at the epicentre of the quake. The Bureau of Meteorology reported the shake near Macquarie Island, Southern Ocean at 8.49pm local time on Thursday. The USGS originally registered the quake as having a magnitude of 7.3, but later revised this figure to 6.7. Related articles Germany finally vows to 'pull out all the stops' to crush Russia The NATO weapon that Putin ‘really fears’ It reportedly struck at a depth of 29.3km (18.21 miles). The Joint … [Read more...] about Australia placed on tsunami alert after huge 6.7 magnitude earthquake rocks Pacific Ocean
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Kyoto, Japan’s beautiful old imperial capital, is going broke fast
Tokyo — The glorious ancient monuments, Zen temples and soaring pagodas of Kyoto have made it a major tourist draw for decades. The Japanese city's population is only about 1.5 million, yet it boasts 17 individual UNESCO World Heritage Sites. But the bucolic scenery belies a painful reality: Japan's magnificent imperial capital city is running on empty. Kyoto Mayor Daisaku Kadokawa minced no words at a shocking news conference last year: "We're facing a crisis situation, with the prospect of bankruptcy within a decade." Without steep cuts in public services, it was forecast that the city will fall $2 billion into debt, with all reserve funds exhausted, within just five years. Japan's continuing ban on tourists amid the coronavirus pandemic has hit Kyoto especially hard. The city drew a whopping 88 million visitors in 2019 alone, but tourism has now dwindled to a trickle of mostly-domestic visitors. Japan's overall inbound tourism plunged to about 250,000 people last year, … [Read more...] about Kyoto, Japan’s beautiful old imperial capital, is going broke fast
Brexit bonanza! Talks begin on new £4BILLION Mexico trade deal set to be bigger than EU’s
Penny Mordaunt discusses post-Brexit UK-US trade deal Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The UK has fired the starting gun on negotiations for a new, deeper agreement with the Central American country to boost British exports and take advantage of the "immense opportunities" on hand. Mexico is one of the world’s largest consumer markets, with a population projected to reach nearly 150 million by 2035. Related articles Fury as bloc threatens full-blown trade war over Brexit deal row US accused of 'BULLYING' Britain as Washington turns screw in row Negotiations were confirmed after International Trade Secretary Anne Marie Trevelyan … [Read more...] about Brexit bonanza! Talks begin on new £4BILLION Mexico trade deal set to be bigger than EU’s
Modi, Scholz call for peace in Ukraine following talks in Berlin
Germany will make €10 billion ($10.5 billion) available for bilateral cooperation with India in the coming years, German Chancellor Olaf Scholz announced on Monday after welcoming Indian Prime Minister Narendra Modi in Berlin. Scholz praised India as Germany's central partner in Asia and said that "close cooperation with India on global issues is something I very much wanted to continue and to expand." Following the meeting with Scholz, Modi will visit Denmark to meet with the leaders of the Nordic countries at the two-day India-Nordic summit. Afterward, he will visit French President Emmanuel Macron. What did Modi and Scholz say on Ukraine? The German chancellor also commented on the Ukraine crisis, calling on Russian President Vladimir Putin to end the conflict. "Stop this war, stop this senseless murder, withdraw your troops," Scholz said in his appeal to Putin. Watch video 00:48 Scholz: 'You cannot change borders through violence' The German … [Read more...] about Modi, Scholz call for peace in Ukraine following talks in Berlin
£40bn wiped off UK stocks as global market rout continues
Rishi Sunak vows to cut business taxes How the Bank of England’s money printing spree paved the way for inflation crisis FTSE 100 drops 1.8pc after Wall Street rout Ben Marlow: Britain is drifting towards economic oblivion Sign up here for our daily business briefing newsletter £40bn has been wiped off the UK's biggest listed companies as a sell-off across global markets intensified. T he FTSE 100 crashed 1.8pc, extending its losses after yesterday’s red-hot inflation figures fuelled fears the UK could be tipped into recession. The domestically-focused FTSE 250 dropped 1.3pc, taking combined market losses to £40bn. It comes after the benchmark S&P 500 plunged 4pc overnight – its biggest drop since June 2020 – after soaring costs dented profits at retail giant Target and sparked fears of a slowdown in consumer spending. The tech-heavy Nasdaq tumbled 5pc, with investors also rattled by comments from top Federal Reserve officials hinting at … [Read more...] about £40bn wiped off UK stocks as global market rout continues
How the Bank of England’s money printing spree paved the way for inflation crisis
Printing money to prop up economies is not, traditionally speaking, considered to be good practice. Cranking up the printing presses evokes images of Weimar Germany or Zimbabwe under Robert Mugabe: denominations with an absurd row of zeros at the end, or those terrifying images of wheelbarrow loads of cash being transported for use as kindling. Some trepidation, then, greeted the announcement in the financial crisis of quantitative easing - in the UK’s case under Mervyn King, the Bank’s Governor at the time. This type of digital money creation was an innovation to combat the worst recession for decades, and led to some forecasts of a huge wave of inflation. The Bank argued it is nothing like simply printing and spending money - QE is used to buy bonds in financial markets, not to fund spending directly. It can also be removed from circulation later, as is happening now. In the event, hyperinflation did not follow and most advanced economies spent the following decade trying … [Read more...] about How the Bank of England’s money printing spree paved the way for inflation crisis
Inflation blamed on wage rises for lowest paid sparking union fury at ‘victim blaming’
Secretary of State for Environment, Food and Rural Affairs George Eustice (Image: Getty) Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info George Eustice said Government analysis suggested “around three-quarters of the price pressures” can be directly attributed to the price of gas. Related articles Brexit LIVE: Britain set to 'feed WORLD' with new breakthrough Brexit POLL: Should Britain be scared of a trade war with EU? He added the remainder of the pressures are due to other factors, including “rising costs of labour as wages rise for the lowest paid”. Mr Eustice made his claim in the Commons after Labour warned the Government was not doing enough to intervene … [Read more...] about Inflation blamed on wage rises for lowest paid sparking union fury at ‘victim blaming’
BBC QT: Tory MP defends Boris response as inflation soars – ‘We’ve spent £22 billion’
Inflation 'is a worldwide problem' says Lucy Frazer Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Financial Secretary to the Treasury said that the Government has spent £22billion helping with the cost of living. Ms Fraser began by arguing that the cost of living crisis and the rise of inflation was a "worldwide" problem. Related articles 'Redwood4Chancellor' demand as Sunak faces demand to slash taxes BBC QT: Bank of England torn apart by panellist over inflation She said: "This is a worldwide problem, and the IMF, OECD and World Bank have all warned that high inflation is the most acute challenge globally." At this point host, … [Read more...] about BBC QT: Tory MP defends Boris response as inflation soars – ‘We’ve spent £22 billion’
Major climate indicators set “alarming” records in 2021, the U.N. says, “bringing us ever closer to climate catastrophe”
The United Nations' World Meteorological Organization issued yet another grim report about the state of our planet this week. In 2021, four of the seven major climate indicators – a set of parameters that hold key information about climate change – set "alarming" new records. In what the WMO said is a "clear sign" that humans are causing "harmful and long-lasting" effects across the globe, the report found that greenhouse gas concentrations, sea level rise, ocean heat and ocean acidification all set new records last year. The report also found that the past seven years have been the warmest seven years on record. In a press conference about the findings, U.N. Secretary-General António Guterres said that the records set are "alarming" and that the findings portray a "dismal litany of humanity's failure to tackle climate disruption." "I will give you the bottom line – the global energy system is broken and bringing us ever closer to climate catastrophe. Fossil fuels are a … [Read more...] about Major climate indicators set “alarming” records in 2021, the U.N. says, “bringing us ever closer to climate catastrophe”
Man who got more than £280k in Covid relief funds by mistake blows it on casino sites
A man who was mistakenly given more than £280,000 in Covid-19 relief funds by his town said he had gambled the money away in just two weeks on overseas casino sites. More than 463 low income households in the town of Abu, located in the Yamaguchi district of Japan , were supposed to receive 100,000 Yen (around £600) each from their government to help ease financial strain. Instead, the entire fund of 46.3million Yen - £287,000- was paid into the account of an unnamed 24-year-old man. Every day for around two weeks he withdrew cash which local media claimed he gambled away, the Asahi Shumbun reported . He was quoted as saying: “I've already moved the money. It can't be returned. "It cannot be undone any more. I will not run. I will pay for my crime. “I don't currently have the money and I don't have anything with property value at hand. It's actually difficult to return it." Abu Mayor Norihiko Hanada told reporters May 17 it would be “unforgivable” if the man … [Read more...] about Man who got more than £280k in Covid relief funds by mistake blows it on casino sites