Six Russian tourists have died and 39 people have been rescued after a submarine sank near the resort of Hurghada, the latest in a series of fatal accidents involving tourists on Egypt’s Red Sea coast. Four survivors, including at least one child, were admitted to intensive care, according to an official statement. The incident, involving a 44-seater recreational vessel operated by Sindbad Submarines, occurred in waters less than a mile offshore from Hurghada’s Marriott hotel resort. One report suggested the submersible had “crashed” during the sightseeing trip near local reefs. Investigations were underway to determine the cause of the accident,…
Author: Laura Bennett
An analysis by JPMorgan suggests that the U.S. stock market’s recent sell-off hasn’t been driven by concerns about the economy falling into recession. Mounting uncertainty over the impact of President Donald Trump’s tariff plans on the economy, U.S. trading relationships and the labor market, with stubborn inflation continuing to strain Americans’ household budgets. “U.S. growth concerns due to tariff uncertainty is often mentioned in our client conversations as a major reason for the recent U.S. equity market correction,” wrote a team of J.P. Morgan analysts led by Nikolaos Panigritzoglou last week. “Indeed on our estimates, the implied probability of a U.S. recession…
At least 144 people have died and 732 have been injured so far in the country, Myanmar military leader Min Aung Hlaing said. The epicentre was 16km (10 miles) north-west of the city of Sagaing, sending strong tremors that were felt as far as south-west China and Thailand. Meanwhile, around 100 construction workers are missing after an unfinished high-rise building collapsed hundreds of miles away in Bangkok, according to Thailand’s deputy prime minister. At least seven people have died at the site in Thailand, according to the Bangkok Metropolitan Administration. A rescuer in Mandalay, Myanmar’s second-largest city, told the BBC…
March Madness is one of the most well-known sporting events in the United States. But it is also potentially responsible for billions of dollars lost in the U.S. economy, according to a recent survey. A recent report from the Action Network — a top sports betting and media brand that boasts nearly 400,000 cumulative social media followers — surveyed 3,000 college basketball fans who work full-time between February 20 and February 26, 2025. The study found that March Madness could cause the U.S. economy to lose approximately $20 billion in ‘lost productivity.’ The first round of the men’s tournament holds…
South Africa’s former ambassador to the US has told the BBC it was “self-evident” that there was racism within the Trump administration. Ebrahim Rasool, 62, was ordered to leave the US last week after Secretary of State Marco Rubio called him a “race-baiting politician who hates America”. This came after Rasool accused US President Donald Trump of trying to “project white victimhood as a dog whistle”. Asked by the BBC’s Newshour whether he believed the Trump administration was racist, Rasool said: “I think it is self-evident rather than anyone needing to be called out.” The BBC has approached the White…
Treasury Secretary Scott Bessent said Sunday that he is not worried about U.S. markets in the long term, even though stocks fell last week amid President Donald Trump’s tariff threats, telling Americans there will be a “transition,” not a “crisis.” Bessent made the remarks during an appearance on NBC’s “Meet the Press,” saying that “one week does not the market make,” when asked about whether Americans whose retirements are invested in the markets should be concerned. “We’ve got these large government deficits, 6.7% of GDP,” Bessent said. “We’ve never seen this when we’re not in wartime, not in recession. We…
Four people have been killed and another 21 injured in a mass Russian drone attack on the central Ukrainian city of Dnipro, the area’s regional head has said. Serhiy Lysak said a restaurant complex and several residential buildings were ablaze after the attack late on Friday. He added that “the enemy sent more than 20 drones” to the city, and that “most of them were shot down”. Images and videos later emerged showing firefighters tackling large fires that had engulfed the buildings that were struck, and smashed glass and other debris scattered on the city streets. Overnight, air sirens were…
Gold broke the $3,000 an ounce price threshold for the first time on Friday as investors sparked a rally in the safe-haven asset amid mounting economic uncertainty due to President Donald Trump’s tariff war. Spot gold prices hit an all-time high of $3,004.86 earlier in Friday’s trading session before dipping back below the $3,000 level as traders took profits. Gold’s surge above the historic $3,000 milestone was driven by “beleaguered investors seeking the ultimate safe-haven asset given Trump’s tumult on stock markets,” said Tai Won, an independent metals trader. WHY GOLD PRICES COULD HIT $3,000 DESPITE VOLATILITY Traditionally viewed as a safe…
Canadian Prime Minister Mark Carney says US President Donald Trump “respected Canada’s sovereignty” in the first call between the pair, who spoke amid an ongoing trade war between the two neighbours. Trump has repeatedly suggested that Canada should become the 51st US state – an idea that has sparked widespread backlash among Canadians. Carney, currently in the midst of an election campaign, described the call as “very constructive”, while Trump said the call was “extremely productive”. Trump’s planned 25% tariff on vehicle imports is due to come into effect on 2 April, which could prove devastating for the Canadian car…
SpaceX’s Crew-10 launched into space Friday to bring home two NASA astronauts who have been stuck at the International Space Station (ISS) since June 6. The crew of four geared up in the “suit-up room” amid photos of the Apollo crew, before driving to the launchpad in multiple Teslas adorned with “LIF10FF” license plates — an ode to the mission number. Each astronaut received a medical check before being briefed by SpaceX and NASA. Later, they partook in various traditions, including a card game to eliminate any bad luck. SPACEX MAKES HISTORY WITH SUCCESSFUL TEST OF ‘MECHAZILLA ARMS’ The launch…