BEIRUT (Reuters) – Lebanon is suffering an economic meltdown that began in 2019 when the financial system collapsed under colossal state debts and the unsustainable way they were funded, while politicians have yet to come up with a rescue plan. Just how bad is the situation? – Gross domestic product has plunged to an estimated…
By Edmund Blair (Reuters) – Lebanon is grappling with a deep economic crisis after successive governments piled up debt following the 1975-1990 civil war with little to show for their spending binge. Banks, central to the service-oriented economy, are paralysed. Savers have been locked out of dollar accounts or told that funds they can access…
MAJDAN, Serbia (AP) — A group of migrants huddles beside a small, smoky fire inside an abandoned building in northern Serbia, the last moments of warmth before they set out into the driving snow toward the razor wire, cameras and sensors of Hungary’s electrified border fence. A few hours later, they return, their efforts to…
(Reuters) -Bitcoin dropped again on Saturday and was last down around 4% for the day, hovering around the $35,000 level. Bitcoin, the world’s biggest and best-known cryptocurrency, is now about half its $69,000 peak in November. It was last at $35,049, after falling as low as $34,000 and following a steep fall on Friday. The…
PARIS (Reuters) – Verizon Chief Revenue Officer Frank Boulben has written to the board of Orange withdrawing from the race to head the French telecom firm, Le Figaro reported on Saturday. Sources told Reuters earlier this month that Boulben was one of three people on a shortlist of possible candidates. The others are Orange’s Chief…
(Reuters) – Bitcoin dropped 5.6% to $34,448.94 at 18:10 GMT on Saturday, losing 1,878.27 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is up 1.8% from the year’s low of $34,000 on Jan. 22. Ether, the coin linked to the ethereum blockchain network, dropped 8.4% to $2,352.72 on Saturday, losing $189.64 from…
By Michael Nienaber BERLIN (Reuters) – German Chancellor Olaf Scholz’s three-party coalition government has voiced its objections to a European Union draft plan to label nuclear power plants as a sustainable energy source in a formal letter to Brussels, ministers said on Saturday. The EU taxonomy aims to set a gold standard for green investments,…
CABO FRIO, Brazil (AP) — In April, Brazil’s federal police stormed the helipad of a boutique seaside hotel in Rio de Janeiro state, where they busted two men and a woman loading a chopper with 7 million reais ($1.3 million) in neatly packed bills. The detainees told police they worked for G.A.S. Consulting & Technology,…
By Pamela Barbaglia and Elvira Pollina LONDON (Reuters) – Telecom firms Vodafone and Iliad are in talks to strike a deal in Italy that would combine their respective businesses in a bid to end cut-throat competition in the euro zone’s third-biggest economy, sources familiar with the matter told Reuters. Discussions between the two companies are…
MILAN (Reuters) – Germany’s Lufthansa is set to buy a 40% stake in Alitalia’s successor ITA Airways and a deal could be unveiled next week, Italian daily Il Foglio reported on Saturday. ITA Airways started flying on Oct. 15 with nearly 2,300 employees and a fleet less than half the size of that operated by…
