Globalisation is under attack. It was meant to be the unstoppable economic force bringing prosperity to rich and poor alike, but that was before the financial crisis ripped up the rulebook. For the past four years, international trade flows have increased more slowly than global GDP – “an outcome unprecedented in postwar history”, as analyst Michael Pearce of Capital Economics put it in a recent note. Crisis-scarred global banks are retreating from risky cross-border lending, and multinationals are casting a sceptical eye over foreign opportunities as geopolitical tensions simmer. Populist politicians in a string of countries, not least the UK, are playing on public fears about migrant workers undermining their pay. Global trade flows are still expanding: but they have never regained the breakneck pace of the 1990s and early 2000s. In the innocent days before the Great Recession, the dismantling of trade barriers between nation states often seemed inevitable. Yet more … [Read more...] about Borders are closing and banks are in retreat. Is globalisation dead?
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An Amazon driver claims he delivers up to 300 parcels a day and is so busy that he doesn't take toilet breaks and barely sees his family. The man told how drivers for the online retail giant face an immense workload, visiting around 200 houses or properties every shift, and his body aches "all over". Working for the sixth straight day, he told the Manchester Evening News that he has been so busy he hasn't had time to buy Christmas gifts for his wife and two children or spend quality time with them. The man, who spoke on the condition of anonymity so he doesn't lose his job, said: "I was talking to my wife the other night for about 20 minutes and then she fell asleep as she was so tired. "I saw my daughter for about half-an-hour and maybe 10 minutes today before she went to school." The man claims the working conditions are wearing him down, but he enjoys driving and the pay, which is well above the minimum wage and ranges from £10 to £13 an hour. He said: "I love to drive and … [Read more...] about Amazon driver ‘delivers up to 300 parcels a day with no time for toilet breaks’
She's turned heads in movies like Bad Times At The El Royale and Widows, and has already won a Tony and a Grammy for her starring role on Broadway in A Color Purple. Now, actress Cynthia Erivo is about to headline one of the most hotly anticipated movies of the fall, Harriet. On Tuesday, she was the star of the Toronto International Film Festival red carpet for the premiere of the historical epic, wearing a breathtaking off-the-shoulder cantaloupe-colored gown and matching headband. Showstopper: Actress Cynthia Erivo was the star of the Toronto International Film Festival red carpet on Tuesday for the premiere of Harriet Cynthia's column floor-length gown featured an explosion of ruffles at the bust, which were then echoed in the skirt and cascaded diagonally behind her into a magnificent train. RELATED ARTICLES Previous 1 Next David Oyelowo defends British actress Cynthia Erivo's... Tony Awards 2019: Emily Ratajkowski, Marisa Tomei, and... Debra Messing in black leather … [Read more...] about Cynthia Erivo stuns in ruffled strapless gown at the premiere for Harriet at the Toronto International Film Festival
On 26 December 2004, a 9.1-magnitude earthquake off the coast of Banda Aceh, Indonesia, triggered a deadly tsunami that killed more than 230,000 people and rendered millions homeless. Many more found their lives were transformed forever by the natural disaster. Here, some share their stories.Louis Cryer was 18 and in Sri Lanka with his mother Zoe and brother FelixWe were staying in an idyllic beach village called Unawatuna in Galle district. It took a matter of seconds for a wall of water of about 5ft (1.52m) in height to start coming in. It was a kind of surge which reached the first floor of our hotel. It flattened walls, trees, and the buildings around us, before rising higher and higher. We tried to get people out. Miraculously, guests who had been in the room underneath us started popping up from the water.One woman was trapped in her locked room because she couldn't find her key. She said the room filled up quickly with water and she took what she thought would be her last … [Read more...] about Tsunami stories: Your experiences
What are the capital controls being introduced in Cyprus? • All savings accounts must run until their expiry date – no early withdrawals allowed. • No cheques will be cashed, although cheque deposits will be allowed. • Payments out of the country are suspended. Individuals will only be allowed to take €3,000 (£2,500) in cash on each trip out of the country. • Unlimited use of credit cards is allowed within Cyprus, but there's a spending limit of €5,000 a month abroad. • Import payments will be allowed when 'the relevant documents' are provided to the authorities and Cypriots can only transfer up to €10,000 a quarter for fellow citizens who are studying abroad. • The measures will apply to all accounts, regardless of the currency used. Why are controls necessary? Without restrictions on the movement of money the Cypriot authorities believe the frightening scale of capital flight would destroy its banks. Deposit accounts … [Read more...] about Cyprus Q&A: what capital controls mean in practice