Early Bird Headlines 29 August 2015
Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
U.S.
- Avoid the pain of a surprise medical bill (CNBC) Over the past two years, nearly one-third of privately insured Americans has received an unexpected medical bill where their health plan paid less than expected, according to a May survey from the Consumer Reports National Research Center. For many, it’s an expense that isn’t so easy to handle. A 2014 Kaiser Family Foundation report estimated one in three consumers have difficulty paying their medical bills, and earlier this year, Bankrate.com found that only 38 percent of consumers had enough liquid assets to cover an unanticipated expense like an emergency room visit or $500 car repair. And what makes the this even more damaging for many is that unpaid medical bills are among the quickest to be turned over to collection agencies which creates major credit rating downgrades.
- Tropical Storm Force Wind Speed Probabilities – 120 Hours (National Hurricane Service) Tropical storm Erika has crossed over Dominica (see section below) with hurricane force winds and is now a tropical storm over Hispaniola (Haiti and Dominican Republic). It is projected to pass over the eastern tip of Cuba early Saturday and brush along the north shore of Cuba before reaching the Florida Keys late Sunday, followed by a trip up the western coast of Florida and into southern Georgia. At this point it is not expected to regain hurricane strength winds.
- Nasa starts year-long isolation to simulate life on Mars (BBC News) A team of NASA recruits has begun living in a dome near a barren volcano in Hawaii to simulate what life would be like on Mars. The isolation experience, which will last a year starting on Friday (28 August 2015), will be the longest of its type attempted. Experts estimate that a human mission to the Red Planet could take between one and three years. The six-member team will live in close quarters under the dome, without fresh air, fresh food or privacy. This is a real ‘under the dome’ event.
EU
- France train attack: Talks in Paris to debate security (BBC News) European interior ministers and transport officials are due to hold emergency talks in Paris following last week’s foiled gun attack on a train. The BBC’s Hugh Schofield in Paris says France wants tougher security measures after the incident on the Thalys train from Amsterdam to Paris. Passengers overpowered a heavily armed man and pinned him to the floor.
Lebanon
- Lebanon: Shiny on the outside, rotting from the inside (Associated Press) To the casual visitor, Lebanon may seem like a tiny slice of Mediterranean modernity and coexistence in a turbulent region plagued by violence and extremism. But for many Lebanese, it’s a rotting state eaten away by a political class that has long used the country’s sectarian power-sharing system to perpetuate corruption and nepotism.
Syria
- Palmyra: Satellite image of IS destruction (BBC News) A French satellite system has imaged the destroyed Temple of Baalshamin at Palmyra in Syria. The ancient building, which dates to the 1st Century AD, was blown up by Islamic State militants. The “before” image was acquired on 22 May by the Pléiades Earth-observation system, which is managed by Airbus Defence and Space. The “after” view comes from 25 August. Even with the slight difference in angle, it is clear the temple has gone. (Larger versions of these pictures are available at BBC News.)
North Korea
- Kim Jong Un: North Korea’s ‘Military muscle’ prevented war with South (USA Today) At a meeting of the powerful Central Military Commission, Kim said the agreement announced earlier this week between North and South Korea “was by no means something achieved on the negotiating table but thanks to the tremendous military muscle with the nuclear deterrent for self-defense,” according to the North’s official Korean Central News Agency.
Japan
- That Was the Week that Was in Tokyo (Investing.com Chart) The week just finished was basically a round trip, down 7.5% from last Friday’s high and back again.
Click on chart for latest streaming data from Investing.com.
China
- A ‘perfect storm’ for Chinese President Xi Jinping (CNBC) President Xi Jinping has consolidated more power within his country than any other Chinese leader since the early ’90s, just in time for a major economic slowdown and financial markets turmoil. Now he faces a manufacturing slowdown, a significantly declined property market, a crashing stock market, a major port city disaster and more open political resistance to his anti-corruption campaign. Many seem to think Xi appears to have already consolidated sufficient power to achieve his reform goals. The next few months will determine if they are right.
- That Was the Week that Was in Shanghai (Investing.com Chart) The week just finished was basically half a round trip, down 21% (777 points) from last Friday’s high and back again slightly more than half of that (382 points).
Click on chart for latest streaming data.
Dominica
- Tropical Storm Erika kills at least 20 in Dominica (BBC News) Tropical storm Erica has killed at least 20 people on the eastern Caribbean island of Dominica, with dozens more missing. The storm with gusts to 90 mph and up to 8 inches of rainfall caused floods and mudslides that have set the country back 20 years, according to the prime minister. Haiti and the Dominican Republic are now experiencing 53 mph (85 km/h) winds as a weakened storm hit there Friday night. For more see U.S. section.
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