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☆ 1 in every 13 bridges in America is in ‘poor’ condition. Thousands could collapse from a collision
▼ + stars: | 2024-03-30 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

A container ship colliding into the Francis Scott Key Bridge in Baltimore is drawing attention to potential vulnerabilities among some of America’s more than 600,000 bridges. The Key Bridge stood for 47 years, and in that time it never received the sort of jolt that anyone could have thought would bring it down. Extreme weather events, increasingly heavy trucks and collisions from larger container ships pose significant risks to US bridges, engineers and other infrastructure experts say. The Key Bridge was “fracture critical,” the National Transportation Safety Board said Wednesday. To minimize the potential of ships bringing down bridges, bridges need to be built with what are known as redundancies— protections around bridges’ danger points.

Persons: Francis Scott Key, Dali, Ananth Prasad, Prasad, ”, Jessie Yeung, Curt Devine, Casey Tolan, Isabelle Chapman Organizations: American Society of Civil Engineers, Congressional Research Service, National Transportation Safety, World Association, Transport Infrastructure, Florida Transportation Builders ’ Association, CNN Locations: Baltimore, America, United States, China, Argentina, Florida

☆ Cargo ship had engine maintenance in port before it collided with Baltimore bridge, officials say
▼ + stars: | 2024-03-28 | by ( ) www.cnbc.com time to read: +8 min

The others were presumed dead, and officials said search efforts had been exhausted. Investigators on Wednesday began collecting evidence from the vessel that struck the Francis Scott Key Bridge the previous day. U.S. Coast Guard Rear Admiral Shannon Gilreath said authorities had been informed that the ship was going to undergo the maintenance. "We were informed that they were going to conduct routine engine maintenance on it while it was in port. Video showed the ship moving at what Maryland's governor said was about 9 mph (15 kph) toward the 1.6-mile (2.6-kilometer) bridge.

Persons: Francis Scott Key, Roland L, Butler Jr, Alejandro Hernandez Fuentes, Dorlian Ronial Castillo Cabrera, Butler, Wes Moore, Shannon Gilreath, Jennifer Homendy, Homendy, Moore, Watson, Pete Buttigieg, Biden, Buttigieg, Gilreath Organizations: Fire, Bloomberg, Getty, U.S . Coast Guard, Maryland State Police, Maryland Gov, . Coast Guard, National Transportation Safety Board, Coast Guard, Homeland Security, Associated Press, Synergy Marine Group, Grace Ocean Private Ltd, White House, Transportation, World Association, Transport Infrastructure Locations: Baltimore, Dali, Patapsco, Baltimore , Maryland, U.S, Maryland, Mexico, Guatemala, Dundalk , Maryland, Honduras, El Salvador, Sri Lanka, Singapore, Port, Germany, Japan, United Kingdom, Windward, Annapolis

Six people are presumed dead and two have been rescued from the Patapsco River, according to The New York Times. What Happened to Baltimore’s Francis Scott Key Bridge? Around 1:30 a.m. on Tuesday, a Singapore-flagged cargo ship called Dali struck a column of the bridge, according to reporting by The Baltimore Banner. Where Is the Francis Scott Key Bridge and How Long Is It? The Francis Scott Key Bridge was assessed as being in “fair” condition in 2023, according to the Federal Highway Administration’s National Bridge Inventory.

Persons: Baltimore’s Francis Scott Key, Wes Moore, Dali, Maryland Sen, Chris Van Hollen, Francis Scott Key, Helen Delich Bentley, Banner ”, Baltimore Mayor Brandon Scott, Moore, ”, Joe Biden, We're, “, Pete Buttigieg, Scott, Buttigieg, Joseph Schofer Organizations: The New York Times, Maryland Gov, Biden Administration, White, Baltimore Sun, Baltimore Banner, ABC News, Maryland, New York Times, Times, ” Synergy Marine Group, Baltimore Mayor, Transportation, Department of, World Association, Transport Infrastructure, U.S . News, Northwestern University’s McCormick School of Engineering, ” Engineers Locations: Patapsco, Maryland’s, Singapore, Sri Lanka, Maryland, Baltimore, Helen Delich Bentley Port of Baltimore, Fort McHenry, El Salvador, Guatemala, Honduras, Mexico, U.S

☆ Joe Biden's pre-election spending spree created an 'economy on speed,' economist says
▼ + stars: | 2024-03-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe economy is being artificially boosted by debt-fueled government spending and is heading for trouble bound, a veteran economist warned. The concentration of employment growth in those sectors shows the wider economy is "terribly dependent on government borrowing," Morici said. AdvertisementPoor competitionMorici also downplayed President Biden's declaration during his recent State of the Union speech that the US economy was the "envy of the world." It's widely assumed the Biden administration won't curtail its spending with an election in November, meaning more government jobs are likely to be created in the coming months.

Persons: —, You've, Peter Morici, Morici, he's, it's, Biden's, Biden Organizations: Service, University of Maryland, Fox Business, Business Locations: Russia, Ukraine, Israel, Gaza

☆ Russia Downs 9 Ukraine-Launched Drones, RIA Agency Reports
▼ + stars: | 2024-02-13 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Russia's air defence systems destroyed nine Ukraine-launched drones over Russia's Belgorod and Voronezh regions, as well as over the Black Sea, RIA state news agency reported on Wednesday, citing the Russian defence ministry. Two of the drones were downed over the Belgorod region and one over the Voronezh region, RIA reported. Vyacheslav Gladkov, governor of the Belgorod region, said on social media that one woman was hospitalised with injuries as a result of the attack. There was no information from Gladkov or the Russian defence ministry on potential damage. The Latest Photos From Ukraine View All 91 ImagesReuters was not able to independently verify the reports.

Persons: Vyacheslav Gladkov, Lidia Kelly, Kim Coghill Organizations: Reuters Locations: Ukraine, Belgorod, Voronezh, Russia's, Russia, Melbourne

☆ Russia's Airstrikes Hit Hospital, Injuring Several in East Ukraine, Governor Says
▼ + stars: | 2024-02-13 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Russia launched several missile attacks on the town of Selydove in Ukraine's eastern Donetsk region, damaging a hospital, destroying a dozen residential flats and injuring several people, Donetsk Governor Vadym Filashkin said on Wednesday. "Reportedly, three people, including a child, are under the rubble (of the hospital)," Filashkin said on the Telegram messaging app, adding that 100 patients were evacuated to hospitals in nearby towns. The 1 a.m. Wednesday strike (2300 GMT Tuesday) damaged a wing of the hospital, Filashkin said. The Latest Photos From Ukraine View All 91 ImagesReuters was not able to independently verify the reports. Photos You Should See View All 22 ImagesBoth Russia and Ukraine deny targeting civilians in strikes on each other's territories.

Persons: Vadym Filashkin, Filashkin, Lidia Kelly, Himani Sarkar Organizations: Reuters Locations: Russia, Selydove, Ukraine's, Donetsk, Ukraine, Russian, Melbourne

☆ Russia Launches Drone Attacks on Kyiv, Southern Ukraine - Ukraine's Military
▼ + stars: | 2024-02-11 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

(Reuters) - Russia launched drone attacks overnight on Kyiv and southern Ukraine, injuring at least one civilian and damaging a gas pipeline and residential buildings in the river and sea port of Mykolaiv, Ukraine's military said on Sunday. Photos You Should See View All 21 ImagesAt least one civilian was injured in the southern Ukraine attack, the military said. Falling debris from a downed drone and the blast wave damaged residential buildings and a gas pipeline in Mykolaiv, the military command said. Four drones downed over the Black Sea port of Odesa, the military said. Both Russia and Ukraine have increased their air attacks away from the frontline in recent months, targeting each other's critical energy, military and transport infrastructure.

Persons: Serhiy Popko, Lidia Kelly, William Mallard, Sonali Paul Organizations: Reuters, Ukraine's Air Force, Kyiv Locations: Russia, Kyiv, Ukraine, Mykolaiv, Skies, Odesa, Melbourne

☆ Russia Says It Downs Seven Ukraine-Launched Drones Over Belgorod Region
▼ + stars: | 2024-02-05 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - Russia's air defence systems destroyed seven Ukraine-launched drones over the southwestern region of Belgorod, the Russian defence ministry said on Tuesday after the region's governor said that the city of Gubkin was under a drone attack. There were no casualties from the attack on Gubkin but four houses were damaged by drone debris, Belgorod Governor Vyacheslav Gladkov said on Telegram. Belgorod and other regions bordering Ukraine have often come under attack from Ukrainian forces in the two-year war that started with Russia's full-scale invasion on Ukraine. The Latest Photos From Ukraine View All 91 ImagesKyiv has said that targeting Russia's military and transport infrastructure undermines Moscow's overall war efforts. In January, Moscow accused Ukraine of deliberately shooting down a military plane carrying 65 captured Ukrainian soldiers over the region.

Persons: Vyacheslav Gladkov, Russia's, Lidia Kelly, Stephen Coates Organizations: Reuters, Telegram, Kyiv Locations: Ukraine, Belgorod, Gubkin, Ukrainian, Moscow, Melbourne

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ Russia's drones, missiles target Ukraine's critical infrastructure, Kyiv says
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +1 min

Ukrainian sappers load the remains of an undetonated rocket into a truck following a missile attack in Kyiv on January 23, 2024. (Photo by Genya SAVILOV / AFP) (Photo by GENYA SAVILOV/AFP via Getty Images)Russia launched drone and missile attacks targeting civilian and critical infrastructure across wide areas of Ukraine, Kyiv's Air Force said on Sunday. Preliminary information did not show any casualties in the attacks, the air force said on the Telegram messaging app. Russia and Ukraine have increased their air attacks on each other's territory in recent months, targeting critical military, energy and transport infrastructure. Ukraine's air defense systems destroyed four of eight Russia-launched drones overnight, the air force said.

Persons: Genya SAVILOV, GENYA SAVILOV, Filip Pronin, Yuri Malashko, Malashko Organizations: Getty Images, Kyiv's Air Force, Reuters Locations: Kyiv, Ukraine, AFP, Russia, Poltava, Donetsk, Kremenchuk, Zaporizhzhia

☆ Passengers wake up in the ‘wrong’ country as Storm Isha plays havoc with flight plans
▼ + stars: | 2024-01-22 | by ( Julia Buckley | ) edition.cnn.com time to read: +8 min

CNN —Thousands of airline passengers across Europe woke up this morning at the wrong destination – and even in the wrong country – after Storm Isha caused havoc with flights, with dozens of cancelations, diversions and go-arounds in western Europe. Quintupling flight timesThis flight from Shannon to Edinburgh ended up in Cologne. There were over 100 go-arounds at UK airports, according to NATS, the UK’s air traffic control operator. “We did see some diverted flights leaving Manchester and some diverted to Manchester because of conditions at other airports, particularly Dublin,” they said. London’s Gatwick airport saw 22 diversions, but was able to take five flights diverted from other airports, according to a spokesperson for the airport.

Persons: Storm Isha, Kevin Cullinane, FlightRadar, “ Isha, Steve Fox, “, ”, –, Jerry Dyer, – Dyer, Isha, Jerry, Big Organizations: CNN, Ryanair, Dublin Airport, FlightRadar, Paris Beauvais, Belfast, Dublin, Lufthansa, Cork, NATS, Gatwick, Stansted, Big Jet, Heathrow, Birmingham Airport, London Locations: Europe, Ireland, Dublin, daa, ’, Lanzarote, Canary, Bordeaux, France, Shannon, Edinburgh, Cologne, Manchester, Paris, What’s, Glasgow, Liverpool –, Belfast, Liverpool, Scotland, Germany, Munich, England, Deauville, Stansted, London, Antalya, Turkey, Lyon, Budapest, Cork, Mexico City

☆ Manila’s traffic is so bad Coldplay sang about it
▼ + stars: | 2024-01-22 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +3 min

Online critics questioned why Marcos was spending public funds to attend a concert and criticized his lack of action in fixing mass transport. Liza Marcos/FacebookThe next night, Martin dedicated an impromptu song about it, singing, “There is only really one thing that remains. The traffic here in Manila is completely insane.”Manila topped the 2023 TomTom Traffic Index list of metro areas with the slowest travel time of almost 400 cities in 55 countries worldwide. The transport-focused tech company estimates that Manila’s average speed during rush hour is 19 kilometers per hour (11 miles per hour), and about 52% of its roads are congested. A 2-mile drive will take a week or two,” Martin added to the tune, as fans cheered in agreement.

Persons: CNN —, Chris Martin, Ferdinand Marcos Jr, Marcos, –, Marcos ’, Coldplay, concertgoers, “ We’ve, Liza Araneta, Liza Marcos, Martin, ” Martin, Jaime Bautista Organizations: CNN, Philippine, Department of Transport, Philippine News Agency Locations: Philippines, Philippine, Bulacan, Manila

☆ Ukraine says Russia launches drone attack on Kyiv for the second night in a row
▼ + stars: | 2023-11-19 | by ( ) www.cnbc.com time to read: +2 min

Ukrainian President Volodymyr Zelenskyy attends a joint press conference with European Commission President Ursula von der Leyen (not pictured), amid Russia's attack on Ukraine, in Kyiv, Ukraine November 4, 2023. Russia launched several waves of drone attacks on Kyiv early on Sunday for the second night in a row, stepping up its assaults on the Ukrainian capital after several weeks of pause, the city's military administration said. Popko said that according to preliminary information, Ukraine's air defense systems hit close to 10 Iranian-made Shahed kamikaze drones in Kyiv and its outskirts. On Saturday, Ukrainian officials said all drones heading toward Kyiv were destroyed, but some hit infrastructure facilities elsewhere in Ukraine. President Volodymyr Zelenskyy and other officials have warned that Russia would resume its large-scale bombardments of Ukrainian civilian infrastructure during the winter months.

Persons: Volodymyr Zelenskyy, Ursula von der Leyen, Serhiy Popko, Popko Organizations: European, Reuters Locations: Ukraine, Kyiv, Russia, Moscow

☆ Russia launches drone attack on Kyiv second night in row, Ukraine says
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +2 min

Nov 19 (Reuters) - Russia launched several waves of drone attacks on Kyiv early on Sunday for the second night in row, stepping up its assaults on the Ukrainian capital after several weeks of pause, the city's military administration said. Ukraine's Air Force said its air defence systems destroyed 15 of 20 Russia-launched Shahed kamikaze drones over Kyiv, Poltava and Cherkasy regions. [1/3]An explosion of a drone is seen in the sky over the city during a Russian drone strike, amid Russia's attack on Ukraine, in Kyiv, Ukraine November 19, 2023. On Saturday, Ukrainian officials said all drones heading towards Kyiv were destroyed but some hit infrastructure facilities elsewhere in Ukraine. President Volodymyr Zelenskiy and other officials have warned that Russia would resume its large-scale bombardments of Ukrainian civilian infrastructure during the winter months.

Persons: Serhiy Popko, Popko, Gleb Garanich, Ihor Taburets, Ruslan Kravchenko, Volodymyr Zelenskiy, Lidia Kelly, Pavel Polityuk, Tom Hogue, William Mallard Organizations: Air Force, REUTERS, Thomson Locations: Russia, Kyiv, Poltava, Cherkasy, Russian, Ukraine, Kyiv's, Moscow, Melbourne

☆ Fire at refinery near major port Novorossiisk put out - Russian authorities
▼ + stars: | 2023-10-29 | by ( ) www.reuters.com time to read: +2 min

Oct 29 (Reuters) - A fire that broke out in early hours of Sunday at the Afipsky oil refinery in Russia's Krasnodar region was promptly extinguished, the region's emergency security authorities said after social media reports of powerful blasts shaking the refinery. Earlier, Russia's defence ministry, without providing much detail, said that its air defence systems destroyed 36 Ukraine-launched drones over the Black Sea and the northwestern part of the Crimean Peninsula. The Afipsky plant, which was last attacked in May, can process around 6 million tonnes (44 million barrels) of oil each year. The port of Novorossiisk, together with the Caspian Pipeline Consortium (CPC) terminal, bring about 1.5% of global oil to market. Reporting by Lidia Kelly in Melbourne; Editing by William Mallard and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Lidia Kelly, William Mallard, Raju Gopalakrishnan Organizations: Reuters, Caspian Pipeline Consortium, Thomson Locations: Russia's Krasnodar, Krasnodar, Novorossiisk, Ukraine, Crimean, Kyiv, Crimea, Moscow, Russia, Melbourne

☆ Fire at Refinery Near Major Port Novorossiisk Put Out, Russian Authorities Say
▼ + stars: | 2023-10-28 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +2 min

(Reuters) - A fire that broke out in early hours of Sunday at the Afipsky oil refinery in Russia's Krasnodar region was promptly extinguished, the region's emergency security authorities said after social media reports of powerful blasts shaking the refinery. Baza and Shot, two Russian news outlets with good security sources, said that the fire at the refinery, which lies 50 miles (80 km) east of the Black Sea port of Novorossiisk, one of Russia's most important oil export gateways, was caused by a drone attack. Earlier, Russia's defence ministry, without providing much detail, said that its air defence systems destroyed 36 Ukraine-launched drones over the Black Sea and the northwestern part of the Crimean Peninsula. The Afipsky plant, which was last attacked in May, can process around 6 million tonnes (44 million barrels) of oil each year. The port of Novorossiisk, together with the Caspian Pipeline Consortium (CPC) terminal, bring about 1.5% of global oil to market.

Persons: Lidia Kelly, William Mallard, Raju Gopalakrishnan Organizations: Reuters, Caspian Pipeline Consortium Locations: Russia's Krasnodar, Krasnodar, Novorossiisk, Ukraine, Crimean, Kyiv, Crimea, Moscow, Russia, Melbourne

[1/3] Russian President Vladimir Putin is welcomed by Chinese President Xi Jinping during a ceremony at the Belt and Road Forum in Beijing, China, October 17, 2023. Sputnik/Sergei Savostyanov/Pool via REUTERS Acquire Licensing RightsSummary Putin praises 'dear friend' Xi, thanks for invitePutin heaps praise on BRIPutin says Northern Sea route is open for businessSome European delegates walk out as Putin speaksBEIJING, Oct 18 (Reuters) - President Vladimir Putin on Wednesday praised Chinese President Xi Jinping for the Belt and Road Initiative (BRI) and invited global investment in the Northern Sea route which he said could deepen trade between east and west. Putin called Xi his "dear friend" and heaped praise on the Belt and Road Initiative for bringing the world together. "Starting next year, navigation for ice-class cargo ships along the entire length of the Northern Sea Route will become year-round." Reporting by Vladimir Soldatkin in Moscow and Laurie Chen in Beijing; Editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.

Persons: Vladimir Putin, Xi Jinping, Sergei Savostyanov, Putin, Xi, BRI Putin, Jean, Pierre Raffarin, Sergei Lavrov, Alexander Novak, Dmitry Chernyshenko, Dmitry Peskov, Maxim Oreshkin, Yuri Ushakov, Maxim Reshetnikov, Igor Morgulov, Vladimir Soldatkin, Laurie Chen, Guy Faulconbridge Organizations: Forum, Sputnik, REUTERS Acquire, Wednesday, Initiative, Soviet Union, French, Kremlin, Thomson Locations: Beijing, China, Northern, BEIJING, Ukraine, Russia, Murmansk, Russia's, Norway, Bering, Alaska, Moscow, North Korea

☆ Cloudline: The blimp is back – and this time it’s tiny
▼ + stars: | 2023-10-13 | by ( Tom Page | ) edition.cnn.com time to read: +7 min

CNN —You’d be forgiven for thinking the resurgence of airships and blimps was a load of hot air. South African startup Cloudline has received millions of dollars in investment for its mini blimps. Cloudline first received venture capital backing in 2019, and after years of research and development and prototyping, the company is preparing to launch commercial operations. “The ability of companies like Cloudline to expand is highly subject to the complexity of regulations experienced across the continent,” Chokossa adds. However it looks to fill its airships, Cloudline is hoping it can break through in this revived transport sector.

Persons: CNN — You’d, Cloudline, Spencer Horne, ”, Horne, Christele Chokossa, “, Chokossa, ” Horne Organizations: CNN, Helicopters, Harvard University, Gross, Euromonitor International, Cote d’Ivoire, Democratic, UNICEF Locations: firma, South Africa, Namibia, Mozambique, Kenya, East Africa, Africa, Cameroon, Cote, Democratic Republic of Congo

HANGZHOU, China, Sept 23 (Reuters) - China's eastern city of Hangzhou stepped up security ahead of the Asian Games opening ceremony later on Saturday as organisers hope to get the sporting extravaganza off to a smooth start with President Xi Jinping among the dignitaries set to attend. Roads in a sizeable 'traffic control area' around the city's Olympic stadium were blocked off, at least one metro station was shut, and other Games centres were closed off ahead of an opening ceremony organisers say will be "mesmerizing". Some of those making the trek out towards the stadium were left frustrated by the size of the sealed off area. Organisers hope a high-tech opening ceremony on Saturday will help drum up excitement for the Games. Dozens of smiling volunteers greeted arriving journalists in Hangzhou this week, with some expressing relief that the event was finally getting started.

Persons: Xi Jinping, Li Jian, Xiaolan, @Future, Xi, Beijing's, Bashar al, Assad, Anurag Thakur, Martin Quin Pollard, Ian Ransom, Xihao Jiang, Peter Rutherford Organizations: Games, Thomson Locations: HANGZHOU, China, Hangzhou, Asia, Syria, India, Tokyo

HANGZHOU, China, Sept 21 (Reuters) - China hopes to make a splash with the Asian Games, opening on Saturday, but nationwide excitement has been muted as the economy sputters and some locals question the cost of the sporting extravaganza. Organisers this week expressed confidence in holding a "magnificent" games, thanks to President Xi Jinping’s "important instructions" and great, broad-based efforts. "People care more about their own lives, and the Asian Games are not on the top of their list of concerns," Yan said. [1/4]A woman poses for pictures in front of statues of the three mascots of the 19th Asian Games Hangzhou 2022, near the Hangzhou Asian Games Village, in Zhejiang province, China September 20, 2023. "There's a saying online: 'The Hangzhou city government, when encountering even a dog, wishes they could catch it and give it a fresh coat of paint'."

Persons: Xi Jinping’s, Xi, Bashar al, Assad, John Yan, Yan, Jiang, It's, Mark Dreyer, Tingshu Wang, Wu Lili, Zhang, Jules Boycoff, it's, Dylan Martinez, Martin Quin Pollard, Xihao Jiang, William Mallard Organizations: Asian Games, COVID, Games, Sports, Beijing Olympics, Asian, Hangzhou, REUTERS, Pacific University, Thomson Locations: HANGZHOU, China, Hangzhou, Beijing, Zhejiang province, Zhejiang, Shanghai, U.S ., Oregon, West

☆ China’s growth is buried under great wall of debt
▼ + stars: | 2023-09-13 | by ( Yawen Chen | ) www.reuters.com time to read: +8 min

Most of these 3,000-plus entities were created by local governments during the 2008 crisis to skirt a central government ban on direct state borrowing. These vehicles had already accumulated 80 trillion yuan of liabilities at the end of 2022, according to analysts at Guosheng Securities. At a more optimistic 30% discount, the proceeds would jump to 55 trillion yuan, which would cover all outstanding interest-bearing debt. S&P analysts calculate that about 20 trillion yuan of LGFVs’ loans may be at risk of restructuring. If Xi won't boost property wholeheartedly and is not able to count on consumers, his efforts to revive China’s growth have to focus on smashing the great wall of local debt.

Persons: Wen Jiabao, Xi Jinping, Wen, Xi, Peter Thal Larsen, Sharon Lam, Aditya Sriwatsav Organizations: Reuters, HK, Guosheng Securities, Citi, Finance, Reuters Graphics, Financial Times, Investment, Oxford Economics, Thomson Locations: Beijing, China, Shanghai, New York, China's Southwestern Guizhou, United States

☆ Police search for three missing people in deadly Spain floods, trains resume
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

David Fernandez, 52, shows damage on the homes of his parents and their neighbours following heavy rain, in El Alamo, Spain. REUTERS/Susana Vera Acquire Licensing RightsMADRID, Sept 5 (Reuters) - Police and rescue services searched on Tuesday for three people missing after devastating floods hit central Spain as trains to the south resumed after thousands of passengers were left stranded. The heaviest damage was in the provinces of Toledo and Madrid in the country's centre. Railway infrastructure manager Adif said high-speed rail traffic between Madrid and the southern region of Andalusia had resumed on Monday morning after overnight repairs to damage caused by the storm. The train connection between Madrid and Toledo, 70 kilometres (45 miles) south, remained closed.

Persons: David Fernandez, Susana Vera, Teresa Ribera, Ribera, Adif, David Latona, Emma Pinedo, Inti Landauro, Ed Osmond Organizations: REUTERS, Rights, Police, Sunday, Renfe, Thomson Locations: El Alamo, Spain, Rights MADRID, Toledo, Madrid, Aldea del Fresno, Toledo province, Andalusia

☆ Volkswagen, Renault shares hit by rare ‘sell’ rating as Chinese competition grows
▼ + stars: | 2023-09-01 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

London CNN —Shares in Europe’s largest carmaker Volkswagen and its French rival Renault dropped sharply Friday after UBS analysts recommended investors dump the stocks, citing the growing threat to their business from Chinese competitors. Volkswagen was down 4.4% in late afternoon trade in Europe and Renault 5.6% lower, while the benchmark STOXX Europe 600 index was flat. China is the biggest single market for Volkswagen but its sales there have been declining in the face of pressure from local competitors. In their note, the UBS analysts highlighted the threat to the carmaker from “highly competitive” Chinese EVs. Volkswagen, Renault and other global players have been teaming up with Chinese companies, too.

Persons: ” Patrick Hummel, David Lesne, Juan Perez, Carrascosa, BYD, Warren Buffett, ”, “, —, Geely Organizations: London CNN —, Volkswagen, French, Renault, UBS, Swiss, “ Renault, China Passenger Car Association . Vehicles Locations: Europe, China

☆ Here's how global trade will be key to unlocking the full potential of the green hydrogen market
▼ + stars: | 2023-08-29 | by ( Sponsor Post | Created Deloitte With Insider Studios | ) www.businessinsider.com time to read: +7 min

Inclusive, global trade is the keyFree trade can help lower the cost of energy transition. Deloitte's outlook showcases a steady hydrogen market growth, from $642 billion in annual revenue in 2030 to $1.4 trillion per year in 2050, in which green hydrogen comprises some 85% of the hydrogen market. Global trade between major regions can represent almost one-fifth of total clean hydrogen volume. The opportunity for developing economiesRegions with high renewable endowment and ample land availability could likely produce cost-competitive green hydrogen in quantities that exceed domestic needs. To find out more, read Deloitte's Green hydrogen: Energizing the path to net zero report.

Organizations: Government, Global, North, Deloitte Global, SAF, Deloitte Investments, Deloitte, Insider Studios, Deloitte Touche Tohmatsu Locations: North Africa, Australia, North America, East, South America, Africa, Japan, Korea, Europe, China, India, Middle East

☆ Paris 2024: The war in Ukraine shows no sign of ending. That leaves a dark cloud over the Olympic Games
▼ + stars: | 2023-07-29 | by ( Matt Foster | ) edition.cnn.com time to read: +10 min

Kharlan’s disqualification threw into sharp relief the political and organizational jeopardy that France and the International Olympic Committee (IOC) is facing ahead of the Games. So far, no decision has been taken on Russian and Belarusian athletes’ participation at the 2024 Paris Olympics. The opening ceremony is already uniquely French in nature with the Games set to be centered around the Seine, the river running through the city. Organizers also say that the Paris Games “finance themselves,” claiming that 96% of the budget comes from private investment. Next year’s Olympic Games are set to start on July 26 and run until August 11.

Persons: Olga Kharlan, Anna Smirnova, Kharlan’s, Thomas Bach, Russia’s, Smirnova, Russian Anna Smirnova, Ukraine's Olga Kharlan, Tibor Illyes, ” Bach, “, ” Edwin Moses, Nawal El Moutawakel, CNN’s Amanda Davies, Jimmy Carter, ”, Moses, AP El, Emmanuel Macron, Geoffroy Van Der, Tony Estanguet, CNN’s Melissa Bell, “ It’s, Denis the, aren’t, Jimmy Gressier, Tullio M, Estanguet, Shelly, Ann Fraser, Pryce, ” Fraser, Fabrice Coffrini, Katie Ledecky, Ariarne Titmus, Summer McIntosh Organizations: CNN, International Olympic Committee, IOC, Belarusian Olympic, Olympic, US Olympic, USA, US State Department, United, AP, AP El Moutawakel, Games, Eastern Bloc, Getty, Paris, FIFA, Stade de France, UEFA, League, Stade de France –, de Police, BFMTV, RMC Sport, CNN Sport, Paris Games, Paralympic, Paralympic Games Locations: Paris, Ukrainian, France, Ukraine, Belarusian, Russia, Milan, Russian, Soviet, Afghanistan, Morocco, United States, Soviet Union, Los Angeles , California, –, Geoffroy Van Der Hasselt, AFP, Saint, Puglia, Lausanne, Switzerland, Australia, Canada, Seine

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