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Tag: crisis

Study: Climate change crisis requires less growth-oriented global economy

Study: Climate change crisis requires less growth-oriented global economy

Science
June 19 (UPI) -- Economies and consumers can't aspire to both affluence and sustainability, researchers warn in a new paper, published Friday in the journal Nature Communications. Hundreds of studies have highlighted the challenges facing the planet's climate, biodiversity and food systems -- global warming, pollution, habitat loss -- but few have focused on the relationship between Earth's climate and ecological crises and the planet's growth-oriented economies and the pursuit of affluence. Advertisement Many economists, business leaders, policy makers and even a few climate scientists have suggested technological advances will see planet Earth and its economies through the climate crisis -- continuing economic growth but with a smaller carbon footprint. But a new paper by an internation...
Not just financial health: Advisors guide clients through coronavirus crisis

Not just financial health: Advisors guide clients through coronavirus crisis

Finance
AleksandarNakicOur nation is facing unprecedented times, and financial advisors are facing upheaval when their clients need them the most.More than 40 million people have applied for unemployment benefits since early March, while the economic outlook remains grim. The Atlanta Federal Reserve projects that the nation's gross domestic product during the second quarter will decline by close to 53%.At the same time,  close to 2 million Americans have been diagnosed with coronavirus.Through it all, advisors have undertaken drastic measures to keep their businesses running, so that they can offer investors some measure of certainty and stability in otherwise frightening times.Here's how three financial advisors have renewed their commitment to their clients."A lifesaver" from the federal go...
Here are key ways the coronavirus crisis differs from the Great Recession

Here are key ways the coronavirus crisis differs from the Great Recession

Finance
For the second time in 12 years, the U.S. economy and financial markets are facing an unexpected crisis of uncertain proportions.While the 2008 financial crisis and the current coronavirus pandemic are very different in character, both have produced extraordinary volatility in financial markets.Both downturns have also presented major challenges for financial advisors as they try to calm anxious clients and keep them from abandoning their financial plans.How do the two situations compare and how are investors reacting to the uncertainty this time around? There are some notable differences, financial advisors said.1. Banks' role then and nowA woman enters Bear Stearns headquarters in New York, March 14, 2008.Daniel Acker | Bloomberg | Getty ImagesThe first is the role of the banking sy...
Bolsonaro’s Trump-like theatre ignores the coronavirus crisis gripping Brazil

Bolsonaro’s Trump-like theatre ignores the coronavirus crisis gripping Brazil

World
A posse of mule-riding cowboys and cowgirls, Brazilian flags aloft, trot along the vast parks that are the centre of Brasilia, the country's capital.It's quite a sight as they are cheered on by thousands of anti-lockdown protesters who are in the city for their now weekly rally. The numbers vary and the count is always contested but by any standards large numbers of people flooded the roads in their cars, horns honking and vuvuzelas blaring out a deafening cacophony. Many have travelled from towns and cities hundreds of miles away. Image: The rally is noisy and raucous and utterly defiant It is noisy and raucous and utterly defiant. Forget social distancing, forget staying safe. In fact, forget COVID-19.These are the faithful supporte...
Record government borrowing in April as UK tackles coronavirus crisis

Record government borrowing in April as UK tackles coronavirus crisis

Business
The government borrowed a record amount in April, adding £62.1bn to the country's budget deficit.The Office for National Statistics said government borrowing was £51.1bn higher than the same month last year. It comes amid efforts by Chancellor Rishi Sunak to prevent mass job losses from the coronavirus pandemic by furloughing many of the country's workers. The figure is significantly higher than expected, with most economists having predicted £30.7bn for the month.Public debt jumped to almost 98% of GDP - the highest share of GDP by that measure since 1963, according to the ONS.