Worldcrunch
The Saudis could regain the political and financial clout they once enjoyed in Lebanon, which was lost for two decades to Hezbollah and its foreign patrons. Could that restore a measure of prosperity to a country brought to its knees by decades of civil war and the unwelcome interventions of Tehran and Damascus.
Luigi Mangione, accused of murdering Brian Thompson, the CEO of the health insurance company UnitedHealthcare, has become a folk hero for Americans across different political ideologies. That’s because the nation has a broken capitalistic healthcare system.
Lehman Brothers, a global financial services firm, filed for Chapter 11 bankruptcy on this day in 2008. This event was significant in the 2008 financial crisis and had far-reaching implications for the global economy and financial markets. What is Chapter 11 bankruptcy? Chapter 11 bankruptcy is a legal process in the United States that allows […]
Algeria faces a real risk or going bankrupt by 2029. How did it come to this, in one of the world’s leading hydrocarbon producers?
The fall of Silicon Valley Bank revives memories of Lehman Brothers’ bankruptcy. The two situations have some fundamental differences, but there is enough in common that the risks that SVB could spark a new global financial crisis is very real.
-Analysis- Populists sometimes have good ideas. Taking advantage of historically low interest rates to launch a stimulus plan, for example, is a good idea. Standing up to China, which is massively subsidizing its steel exports and restricting freedom to invest in the country through law and might, is another good idea. So too is rethinking […]
A study recently released in Germany demonstrates that right-wing parties win on average 30% more votes after a financial crisis. The success of France’s Marine Le Pen is just the latest example.
PARIS — After a marathon 15-hour meeting, Greece and the 18 other Eurozone members finally reached an agreement to avoid a “Grexit.” The Greeks will keep the euro and receive financial support in exchange for implementing a stringent program of reforms by Wednesday at the latest. Greek Prime Minister Alexis Tsipras welcomed the deal which […]
Pure necessity could turn Alexis Tsipras Greece’s liberal prime minister-elect, into an unexpected reformer willing to go against client politics.
Russian travel agencies are going bankrupt as the Ukraine crisis clips the wings of tourism and keeps Russians at home. Many who have ventured abroad have found themselves stranded.
-Editorial- BEIJING – At the recent International Investment Forum, Justin Lin Yifu, the former World Bank chief economist, was asked how he personally invested his money. “All my money is in the bank, in fixed deposits,” he said, before adding with a smile, “When I sleep at night, they are still earning interest for me, […]
“Civilizations die from suicide, not by murder,” wrote British historian Arnold Toynbee. Lessons from the downfall of the automotive industry’s once-glorious capital.
DETROIT NEWS, NYT (USA), LE MONDE (France), O GLOBO (Brazil) Worldcrunch DETROIT – From Kalamazoo, Michigan to Paris, France, news of Detroit’s bankruptcy — the largest municipal financial default filing in American history — was making headlines far and wide and close to home on Friday. “Detroit, the cradle of America’s automobile industry and once […]
KOMMERSANT (Russia) Worldcrunch IRKUTSK – The Russian government has unexpectedly decided to close down the Baikal Pulp and Paper Mill, which had been the center of one of the biggest environmental battles in recent Russian history, Kommersant reports. The paper mill, which is located on the shores of Lake Baikal in Siberia, had been struggling […]
NICOSIA – The moment you arrive in Cyprus you sense something about the little eastern Mediterranean island that sets it apart from its European neighbors. There are an unusual number of men in suits carrying briefcases. And the bright billboards on the streets leading from the airport have Cyrillic writing on them. Some of the […]
BLOOMBERG (USA), LES ECHOS (France) Worldcrunch The U.S.-based businesses of the iconic video-game-maker Atari have filed for bankruptcy protection in the U.S. Bankruptcy Court in Manhattan. An Atari 2600 console – Wikimedia Late Sunday, Atari said it was filing for Chapter 11 bankruptcy protection in an effort to free the company from its French parent […]
LES ECHOS (France) Worldcrunch A study published this week by two economists for the German Bertelsmann Foundation says that if Greece defaults on its debts and leaves the euro zone, it would cost the world’s major economies 17.8 trillion euros by 2020, and cause a severe worldwide depression, reports French business newspaper Les Echos. Greece’s […]