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Geopolitics

Deadly Vietnam Protests, Cannes Kickoff, Hacking Kate

Nicole Kidman and Lambert Wilson dance briefly during the opening ceremony of the 67th Cannes International Film Festival
Nicole Kidman and Lambert Wilson dance briefly during the opening ceremony of the 67th Cannes International Film Festival
Worldcrunch

DONETSK SETS ULTIMATUM FOR UKRAINE FORCES
Pro-Russian groups in the region of Donetsk have issued a 24-hour ultimatum to Ukrainian armed forces, threatening to take the region by force if they don’t leave, RT reports. This comes as acting President Olexandr Turchynov said the government forces had destroyed two rebel military bases, in Kramatorsk and Sloviansk, while the country’s Defense Ministry said the offensives had caused no casualties. Russian news agency Ria Novosti, however, quotes pro-Russian militants and local media as saying that at least one person died in a gunfight near Kramatorsk and that 11 Ukrainian soldiers and one activist were killed in Sloviansk yesterday.

THE WORLD’S BEST CITIES
A new global ranking of the world’s best cities finds that 10 of them are in Europe, six in the United States, three in Asia and one in Australia. A hint about the No. 1 city? Sushi. Check out the results here.

CLASHES IN TURKEY AS MINE DEATH TOLL RISES
Protesters in Istanbul and Ankara clashed with police yesterday after the worst mining disaster in Turkish history claimed at least 282 lives with scores still missing, according to Hurriyet. Trade unions announced a one-day strike, denouncing recent privatization in the sector as leading to increasingly dangerous working conditions for minors. But Turkey’s Prime Minister Recep Tayyip Erdogan tried to distance his government from any responsibility referring to 19th and early 20th century incidents as evidence that mining disasters are “usual things.” Meanwhile, one of Erdogan’s advisors kicked a mourner in Soma yesterday (have a look at the photo) and will make a statement this morning.

SNAPSHOT
Wednesday night marked the opening ceremony of the 67th Cannes International Film Festival at the Palais des Festivals.

VIETNAM’S ANTI-CHINESE PROTESTS TURN DEADLY
More than 20 people have died in Vietnam as anti-Chinese riots continued, with protesters storming foreign-owned factories across the country in response to what they see as Chinese expansionism in the South China Sea, The Guardian reports. According to AFP, China’s Foreign Ministry spokesman accused the Vietnamese government of showing “indulgence and connivance” with the rioters. Chinese news agency Xinhua, meanwhile, explained that more than 600 Chinese citizens had crossed the Vietnamese border into Cambodia yesterday to escape the violence.

MY GRAND-PÈRE'S WORLD

AFGHAN PRESIDENTIAL ELECTION RESULTS
Afghans will be called to the polls a second time on June 14 to vote in the country’s presidential election runoff between the two top candidates. None among the eight candidates was able to secure over 50% of the vote in the first round. Read more from The New York Times.

155
A News of the World reporter hacked into Kate Middleton’s voicemail 155 times.

FERRY CREW CHARGED WITH MANSLAUGHTER
The captain of the sunken South Korean ferry and three other crew members have been charged with manslaughter for abandoning the ship without trying to evacuate the estimated 476 people on board, Yonhap reports. They could face life imprisonment if found guilty. The 11 other sailors were charged with causing death by negligence and violating the marine accident rescue law.

WORLDCRUNCH-TO-GO
As Le Nouvel Observateur’s Marie Vaton writes, there is a global race to see who can create 3D printing of living human cells, and a French company appears to be the leader. “In the future, 3D bioprinting could revolutionize the medical world by allowing a totally individualized medicine based on the genetic heritage of each patient,” the journalist writes. “That technology could allow, for example, the production of artificial transplants and reduce the risk of graft rejection.”
Read the full article:
Print Me A Liver: France Claims World's First Laser 3D Bioprinter.

WESTERN AND ARAB LEADERS TO DISCUSS SYRIA
The 11 foreign ministers of the self-described Friends of Syria group are expected to meet later today in London to discuss how to “significantly step-up” their support of the rebels, the BBC quotes a UK Foreign Office spokesman as saying.

NOT BECAUSE THE FOOD IS BAD
Today might not be the best day to pop into your local McDonald's, Burger King or KFC for ghettoized food products, because fast food workers around the world are on strike to demand better pay. Read more from Vice News.

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Economy

Why More Countries Are Banning Foreigners From Buying Real Estate

Canada has become the most recent country to impose restrictions on non-residents buying real estate, arguing that wealthy investors from other countries are pricing out would-be local homeowners. But is singling out foreigners the best way to face a troubled housing market?

Photo of someone walking by houses in Toronto

A person walks by a row of houses in Toronto

Shaun Lavelle, Riley Sparks, Ginevra Falciani

PARIS — It’s easy to forget that soon after the outbreak of COVID-19, many real estate experts were forecasting that housing prices could face a once-in-generation drop. The logic was that a shrinking pandemic economy would combine with people moving out of cities to push costs down in a lasting way.

Ultimately, in most places, the opposite has happened. Home prices in the U.S., Canada, Britain, Germany, Australia and New Zealand rose between 25% and 50% since the outbreak of COVID-19.

This explosion was driven by a number of factors, including low interest rates, supply chain issues in construction and shortages in available properties caused in part by investors buying up large swathes of housing stock.

Yet some see another culprit deserving of particular attention: foreign buyers.

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