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Tag: crisis

Patisserie Valerie crisis 'over £20m black hole'

Patisserie Valerie crisis 'over £20m black hole'

Business
The owner of Patisserie Valerie, one of ‎Britain's largest chains of casual dining outlets, will be plunged into crisis on Wednesday when it reveals that it has found a multimillion pound black hole in its accounts. Sky News has learnt that Patisserie Holdings, which trades using the ticker CAKE,‎ is likely to have its shares suspended as a result of the discovery of financial irregularities.The ‎situation will create a huge headache for Luke Johnson, one of Britain's best-known and most successful entrepreneurs, who is Patisserie Holdings' executive chairman and largest shareholder.A leisure industry source said on Tuesday night that Chris Marsh, Patisserie Holdings' finance director, was likely to be suspended or temporarily step aside during an investigat...
Raw sewage in streets: Cholera is Zimbabwe's latest crisis

Raw sewage in streets: Cholera is Zimbabwe's latest crisis

Health
Raw sewage flows freely in some streets of Zimbabwe's capital, posing a deadly challenge to the recently elected president who has promised the troubled country a new dawn. A cholera outbreak has killed more than 30 people and sickened more than 7,000 as it spreads beyond Harare, posing the latest crisis for a government that pledges, somehow, to turn a collapsed economy into a middle-class one by 2030. The signs are not encouraging. Inflation has spiked. President Emmerson Mnangagwa, who took office after the fall of longtime leader Robert Mugabe and for a while sent hopes soaring, now spends his time vowing to fight a "medieval" disease. As many residents of Harare hop-skip over fetid puddles, many are reminded of the outbreak a decade ago that killed over 4,000 people. Now water and s...
Migrant crisis: Scores drown off Libyan coast

Migrant crisis: Scores drown off Libyan coast

World
More than 100 migrants died in a shipwreck off the Libyan coastline earlier this month, an aid agency says.According to Medecins Sans Frontieres (MSF) two rubber boats set off on 1 September, but one of the vessels deflated and sank.The 276 survivors were eventually taken to the Libyan port city of Khoms, around 100 km (62 miles) to the south-east of the capital Tripoli.MSF says the group is now being held in "arbitrary detention".The survivors, including pregnant women, children and infants, have been treated by MSF for pneumonia or burns from leaked fuel.Over 1,500 migrants have died while attempting to cross the Mediterranean so far this year, according to the International Organization for Migration (IOM). Many more have been...
Argentina – the crisis in six charts

Argentina – the crisis in six charts

Business
Argentina is once again looking into the barrel of an economic crisis. The currency is sliding, inflation rising and there could well be a recession in the making. The International Monetary Fund (IMF) is providing an emergency loan. It's all happening under a government that was seen by the international financial markets as offering Argentina new hope, one which, under the leadership of President Mauricio Macri, held out the prospect of stability and sustainable market-oriented economic policy that could begin to reverse a century of poor performance. We look at six factors which have helped drive the crisis. Peso plummetsIt has been a grim year for the Argentine economy and the national currency, the Peso. Almost all emerging ...
Rohingya crisis: Myanmar leader Suu Kyi 'should have resigned'

Rohingya crisis: Myanmar leader Suu Kyi 'should have resigned'

World
The outgoing UN human rights chief says Myanmar's de-facto leader Aung San Suu Kyi should have resigned over the military's violent campaign against the Rohingya Muslim minority last year.Zeid Ra'ad al Hussein told the BBC the Nobel Peace prize winner should have considered returning to house arrest rather than excusing the military.A new UN report says Myanmar's military should be investigated for genocide.Myanmar has rejected the report as one-sided.The army of the Buddhist-majority nation - which has been accused of systematic ethnic cleansing - has previously cleared itself of wrongdoing. The UN report, published on Monday, blamed Ms Suu Kyi, a long-term leader of the pro-democracy movement, for failing to prevent the violenc...