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Tag: fears

Brexit fears: UK's credit rating downgraded

Brexit fears: UK's credit rating downgraded

Business
Moody's has downgraded the UK's credit rating, citing concerns about public finances and the effect of Brexit.Moody's was the first major credit ratings agency to strip the UK of its AAA rating in 2013 and it has now cut the rating from Aa1 to Aa2.The credit ratings agency said the outlook for public finances has "weakened significantly" since it last changed the country's rating.Its report said: "Moody's expects weaker public finances going forward, partly linked to the economic slowdown under way but also reflecting the increasing political and social pressures to raise spending after seven years of spending cuts."Since 2015, the Government has been finding it increasingly difficult to implement the spending cuts that it has been targeting, in particular on welfare spending."More recentl...
Rohingya wait in no man's land amid landmine fears

Rohingya wait in no man's land amid landmine fears

World
A small muddy creek separates the two neighbours. On one side Myanmar. On the other Bangladesh. Between the two is what is known as no man's land, a buffer zone. Caught inside are thousands of Rohingya refugees.Armed Bangladesh border guards regularly patrol the strip, trying to stem the exodus of refugees.Image:Guards are stopping the Rohingya from entering BangladeshImage:Only children are allowed to cross the creek in order to get clean drinking waterSmall children navigate through the murky brown water carrying heavy vessels of clean water. They are the only ones who are allowed to cross the boundary.Hussein Ahmed is given permission to wade across the stream to speak to us.He is a 39-year-old farmer. He looks 15-20 years older. Wiry framed and hollow-eyed. It is obvious that he has su...
Harvey: Fears grow over severe flooding risk

Harvey: Fears grow over severe flooding risk

World
Media playback is unsupported on your deviceTexas Governor Greg Abbott has warned that severe flooding is his main worry as the rains from Tropical Storm Harvey continue to lash the state. Mr Abbott said the cities of Houston and Corpus Christi had already received as much as 20in (50cm) of rain.He said another 40in of rain could be due before the storm subsides midweek. Rescue efforts are being hampered by strong winds and thousands are without power. Two deaths have been confirmed, in the Rockport area and Houston. In Aransas County, where Rockport is the chief town, a person died in a house fire on Friday night A woman died in Houston as she drove through flooded streets on Saturday Houston, the fourth biggest city in the US, could see 2in-3in (5cm-7.5cm) of a rain an hour on Saturday n...
Buoyant bitcoin stirs crypto-bubble fears

Buoyant bitcoin stirs crypto-bubble fears

Finance
Bitcoin and other "cryptocurrencies" are big money, virtually as big as Goldman Sachs and Royal Bank of Scotland combined.The price of a single bitcoin hit an all-time high of above $ 3,500 this week, dragging up the value of hundreds of newer, smaller digital rivals in its wake. Now some investors fear a giant crypto-bubble may be about to burst.It has been a year of unprecedented growth for the largely unregulated market, with dozens of new currencies appearing every month in "Initial Coin Offerings" or ICOs. They have achieved value almost instantly, drawing in those who are eager to get in and make a quick buck.At the start of 2017, the total value - or market cap - of all cryptocurrencies in existence was about $ 17.5 billion, with bitcoin making up almost 90 percent of that, accordin...