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Economy

“Libya floods wipe out quarter of city and 10,000 feared missing”

“At least 10,000 people were feared missing in Libya on Tuesday in floods caused by a huge storm that burst dams, swept away buildings and wiped out as much as a quarter of the eastern city of Derna. More than… Continue Reading…

Real Estate

[England] “Mortgage crisis to wipe out savings of 1.2 [MILLION] households as repayments set to surge”

“The mortgage crisis will wipe out the savings of 1.2m families this year and push many into insolvency, economists have warned. Households having to remortgage face their bills rising by nearly 50pc, according to the National Institute of Economic and Social Research… Continue Reading…

Economy, Stocks

“Russian Stocks in London Wipe Out 98% of Value in Two Weeks”

“The Dow Jones Russia GDR Index, which tracks London-traded Russian companies, has plunged 98% in two weeks. The slump has wiped out $572 billion from the market value of 23 stocks, including Gazprom PJSC, Sberbank of Russia PJSC and Rosneft… Continue Reading…

Stocks

“Peloton saw $942 million in market value wiped out in a single day…”

“Shares of Peloton, the buzzy bike startup, fell more than 9% on Tuesday as backlash to a new holiday ad built on social media. That erased nearly $942 million from Peloton’s market value in a single day, bringing the company’s market… Continue Reading…