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Worst day in 10 months as Wall Street reacts to 'Brexit'

reuters.com - June 24th 2016 - Rodrigo Campos

The S&P 500 turned negative for the year-to-date on Friday as Wall Street suffered its largest selloff in 10 months after Britain's decision to leave the European Union caught traders wrong-footed.

In the busiest trading volume for a single session in nearly five years, financial stocks .SPSY led the decline on the S&P 500 with a 5.4 percent drop -the largest for the sector since November 2011.

The S&P 500 lost all the year's gains and suffered its largest decline since late August last year.

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United Kingdom Votes to Leave EU in Historic Referendum

           

Philippe Wojazer/Reuters

Britain has voted to exit the European Union. It is a historic decision sure to reshape the nation’s place in the world.

Britain held a referendum on Thursday on whether to leave the European Union, a process often referred to as “Brexit.”

CLICK HERE - EU referendum petition signed by more than 1.5m

CLICK HERE - The British are frantically Googling what the E.U. is, hours after voting to leave it

CLICK HERE - 5 reasons why Americans should care about Brexit

CLICK HERE - NY Times - Brexit: Explaining Britain’s Vote on European Union Membership

CLICK HERE - Vox - Brexit: what happens when Britain leaves the EU

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Climate Change Will Wipe $2.5tn Off Global Financial Assets: Study

           

The economic impact of climate change could play havoc with the world economy, according to an LSE study. Photograph: Carlo Allegri/Reuters

CLICK HERE - STUDY - ‘Climate value at risk’ of global financial assets

Losses could soar to $24tn and wreck the global economy in worst case scenario, first economic modelling estimate suggests

theguardian.com - by Damian Carrington - April 4, 2016

Climate change could cut the value of the world’s financial assets by $2.5tn (£1.7tn), according to the first estimate from economic modelling.

In the worst case scenarios, often used by regulators to check the financial health of companies and economies, the losses could soar to $24tn, or 17% of the world’s assets, and wreck the global economy.

The research also showed the financial sense in taking action to keep climate change under the 2C danger limit agreed by the world’s nations. In this scenario, the value of financial assets would fall by $315bn less, even when the costs of cutting emissions are included.

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New United Nations study finds digital payments to Ebola response workers saved lives

 

E money Transaction

By using digital payments to pay Ebola response workers, Sierra Leone massively cut payment times, avoiding large-scale strikes and ensuring a stable workforce to defeat Ebola. Sierra Leone’s experience shows the critical importance of preparing early for digital payments before crises hit.

 

 

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World Bank Launches $500 Million Insurance Fund to Fight Pandemics

           

World Bank President Jim Yong Kim speaks during a panel discussion at the Anti-Corruption Summit in London, Thursday, May 12, 2016.  REUTERS/FRANK AUGSTEIN/POOL

reuters.com - by David Lawder - May 20, 2016

The World Bank on Saturday said it was launching a $500 million, fast-disbursing insurance fund to combat deadly pandemics in poor countries, creating the world's first insurance market for pandemic risk. . . . 

. . . In the event of a pandemic outbreak, the facility will release funds quickly to affected poor countries and qualified international first-responder agencies. . . . 

. . . The so-called Pandemic Emergency Financing Facility will initially provide up to $500 million that can be disbursed quickly to fight a pandemic, with funds released once parametric triggers are met, based on the size, severity and spread of an outbreak.

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Report Calls for Sustained Funding for Global Health Emergencies

           

FILE - Laboratory technicians develop a technology to mass produce Ebola vaccine, Aug. 14, 2014.

voanews.com - by William Eagle - May 7, 2016

The United States remains by far the most important source of funds for medical research and development for scores of diseases well-known to the developing world.

According to the latest available data from the independent research group Policy Cures, global donors contributed over $2 billion in public funding for research into what the medical community calls neglected diseases. The U.S. government accounted for over 70 percent of the amount.

But a new report from the Global Health Technologies Coalition, a group of nonprofits that promotes creation of vaccines and other tools to improve global health, says that over the past five years, funding has largely been flat. This is in contrast to the first decade of the 21st century, which saw a doubling of financial support. . . .

. . . The GHTC report asks the U.S. government to encourage private sector involvement in R&D with prizes, small-business innovation awards, tax credits and other incentives. It also recommends improved cooperation among the seven U.S. agencies involved in global health.

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What everyone needs to know about China’s debt load

It needs a bit of work. (Reuters/Chance Chan)

Image: It needs a bit of work. (Reuters/Chance Chan)

qz.com - May 4th 2016 - Matt Phillips

Few have watched the development of the Chinese economy as closely as Arthur Kroeber.

His new book, published last month, is a wide-ranging and authoritative primer on the history and development of China’s unique blend of decentralized economic authoritarianism.

It’s an idiosyncratic system, developed in defiance of the advice of western-trained economists in the wake of the collapse of the Soviet Union.

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President Koroma Opens West Africa’s Biggest Palm Oil Refinery In Pujehun

The President of Sierra Leone, Dr. Ernest Bai Koroma  has official opened the largest palm oil refinery  in the country and in West Africa at Sahn-Malen Chiefdom, Pujehun District.

SOCFIN Company has invested over $US 130 million to reach this stage, planting 12,319Ha of hybrid oil palm trees and building a mill currently with a 30t/hr of Fruit Bunch(FFB) capacity and able to increased to 60t/hr
President Koroma says Sierra Leone is now for business.

 

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Inflation Increases to 8.86 Percent in January 2016

The annual inflation rate increased in January 2016 to 8.86 percent from 8.85 percent in December 2015, the statistics agency has stated in a release. The depreciation of the Leone has been the major reason for the increase in prices of all the commodities in the consumer pricing index across the country.
The annual rate of inflation increased from 10.40 percent in December to 10.67 percent in January in the Northern Region. In the Western Region, it decreased from 8.72 percent in December to 8.49 percent in January. In the East inflation climbed from 9.47 percent to 9.79 percent and in the South from 8.14 percent to 8.42 percent.
Monday March 07, 2016

http://awoko.org/2016/03/07/sierra-leone-news-inflation-increases-to-8-86-percent-in-january-2016-2/

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