Weekly News Digest — May 23

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🌐 Find here a brief overview of the latest and most important global business news of the week.

Photo by Tyler Nix on Unsplash

On the menu, you will find this week’s key figures, the most remarkable graph and image, but also other highlights.

🔢 Key Figures

  • 21 people were killed in a mass shooting at a Texas elementary school perpetrated by an 18-year-old gunman. It is the 27th school shooting that has taken place since the beginning of the year. [1]
  • 47 million people in 81 countries are on the verge of starvation, according to the World Food Program. This situation is aggravated in particular by the Russian war in Ukraine but also by Covid. [2]
  • 276 million people are facing acute food insecurity, a number that has more than doubled before the pandemic [2]

📈 Chart of the Week

Crypto-currencies have plunged over the past few days. Even the supposedly less risky types of crypto-currencies like Terra have also been crushed under the selling pressure.

This can be seen in the graph above where Luna loses almost all its value in a very short period of time.

Evolution Terra (LUNA) Price, Source: Yahoo Finance

To learn more about the reason, you can read this article. [3]

📸 Picture of the Week

In New Zealand, a woman managed to convert her 29-year-old car into an electric vehicle with only $24,000. You can watch a video here [4] or read more about it here. [5]

Rosemary Penwarden with her EV named Frida [5]

💭 Quote of the Week

The annual meeting of the World Economic Forum has come to an end. From Ukraine to the economy, technology, health, and the food and energy crises, many topics were discussed.

Be sure to read this short summary of the main highlights!

“We need an energy transformation on the scale of the industrial revolution at the speed of the digital transformation. And therefore we need a revolution in finance.”

Mark Carney, former governor of the Bank of Canada and Bank of England.

🧨 Other Highlights of the Week

✔️ Hungarian Prime Minister Viktor Orban declared a state of emergency immediately. It gives his government the right to rule by decree. [6]

️ ✔️ Chinese tech stocks jump as Alibaba sales beat forecasts. [7]

✔️ Elon Musk is being sued by Twitter investors for delaying disclosure of his stake. [8]

📣 This has been your weekly digest. See you next week!

Cheers,
Lina