Tue, 21-Oct-2025

Elon Musk believes that Twitter may go bankrupt

Elon Musk

Twitter may not survive the oncoming economic collapse. Bankruptcy should not be ruled out if the company fails to increase subscription revenue. The company’s Chief Privacy Officer and Chief Compliance Officer both quit. Twitter may not “survive the oncoming economic collapse,” said CEO Elon Musk in a conference call with staff. Twitter’s new owner has … Read more

Bankrupt Sri Lanka seeks urgent help to feed children

Sri Lanka
  • Ministry of Women and Child Affairs seeking private donations to feed potentially hundreds of thousands of children who have gone hungry.
  • Nine out of ten people reliant on government handouts.
  • Sri Lanka’s inflation rate is second only to Zimbabwe’s – official 60.8 percent.

COLOMBO: Sri Lanka issued an urgent appeal on Monday to combat rapidly spreading child malnutrition as the country’s economic crisis leaves nine out of ten people reliant on government handouts.

According to the Ministry of Women and Child Affairs, they are seeking private donations to feed potentially hundreds of thousands of children who have gone hungry due to a lack of food.

The bankrupt state was unable to sustain welfare in the face of Sri Lanka’s worst economic crisis since independence.

“The problem was bad when the Covid pandemic was at its peak, but now, with the economic crisis, the situation is far worse,” secretary Neil Bandara Hapuhinne told reporters in Colombo.

The president of Sri Lanka wants a unity government to save the country’s economy.

He estimated that the numbers had multiplied several times since then due to the full impact of rampant inflation and dire shortages of food and other necessities.

He claims that the number of people receiving direct state handouts has nearly doubled in the last year, with more than 90% of the population now relying on the government for financial assistance.

According to Hapuhinne, this included approximately 1.6 million government employees.

Officially, Sri Lanka’s inflation rate was 60.8 percent in July, but private economists believe it is much higher, ranking second only to Zimbabwe.

UNICEF has also issued a funding appeal, claiming that the severe economic crisis has disproportionately impacted children in Sri Lanka.

Late last year, the country ran out of foreign exchange to finance even basic imports, and Colombo defaulted on its $51 billion foreign debt in mid-April.

The government is now in bailout talks with the International Monetary Fund under embattled new President Ranil Wickremesinghe.

In a country that once had the best social indicators in South Asia, the country’s 22 million people face lengthy daily power outages, long lines for fuel, and shortages of staple food and medicines.

President Gotabaya Rajapaksa fled the country and resigned last month after thousands of protesters enraged by the economic crisis stormed his official residence.

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Sri Lanka’s new president to appoint ally of ousted Rajapaksa as PM – sources

Sri Lankan President Ranil Wickremesinghe will appoint an ally of the deposed Rajapaksa dynasty as prime minister. Dinesh Gunewardena, a former foreign and education minister, expected to be appointed. A lack of foreign currency has crippled the country of 22 million people. Despite Wickremesinghe’s unpopularity among some sections of the population, the protest movement that … Read more

Sri Lanka gets new president in Wickremesinghe, protests muted

Sri Lanka new president

Sri Lankan lawmakers elect acting President Ranil Wickremesinghe as the country’s new president. Protesters’ response was generally muted, with only about 100 people gathered in Colombo. Some vowed to focus their efforts on deposing Wickremsinghe. The International Monetary Fund (IMF) has said it is “very hopeful” of concluding programme negotiations as soon as possible. The … Read more

INDIA TO INVEST MORE IN SRI LANKA

Sri Lanka declared a nationwide state of emergency on Wednesday, hours after President Gotabaya Rajapaksa fled the country. Protests against the economic crisis have simmered for months and came to a head last weekend when hundreds of thousands took over government buildings in Colombo. After providing $3.8 billion in aid to its neighbouring Sri Lanka … Read more

Sri Lanka crisis: Daily heartbreak of life in a country gone bankrupt

Sri Lanka

As rupee’s value dropped, the cost of food, cooking gas, clothes, travel, and energy skyrocketed. Middle- and upper-class people donated lunch packets and soft drinks to those in line. Lower-middle and working-class Americans are hardest hit by the recession. Before you wake up in Sri Lanka, you’re losing. Power cuts late into the scorching nights … Read more

One of the biggest crypto hedge funds just defaulted on $670 million

Bitcoin

Crypto Hedge three Arrows was unable to satisfy the demands of its lenders for more money. Global investors are selling off speculative assets as the world’s economy is weakening. Su Zhu and Kyle Davies were known for making leveraged bets on the value of cryptocurrencies. Three Arrows Capital defaulted on a $670m loan. Voyager Digital … Read more

Three Arrows Crypto Hedge Fund goes bankrupt

Crypto Hedge

Crypto Hedge three Arrows was unable to meet lenders’ demands for additional funds earlier this month. Liquidation comes as global investors dump speculative assets amid slowing global growth.  The hedge fund was run by Su Zhu and co-founder Kyle Davies, and recognised for its leveraged bets on cryptocurrency prices. The crypto hedge fund Three Arrows … Read more

China’s small banks are struggling. Savers might lose everything

Thousands of depositors battling to recoup their cash from at least six banks in central China. Experts fear a financial crisis may be on the horizon. Hundreds of depositors flocked to Zhengzhou, the capital of Henan, late last month. In the central Chinese province of Henan, Peter had deposited his about $6 million life savings … Read more

Amber Heard goes bankrupt after losing Johnny Depp’s lawsuit?

Amber Heard

Hollywood actor Amber Heard was recently spotted shopping at a discount department store in New York’s Hamptons According to sources of the New York Post, the actor, who lost to ex-husband and actor Johnny Depp over the defamation trial, was supposedly ‘broke’. Heard owes Depp a sum of USD 8.4 million in damages for defaming … Read more

Bankrupt Sri Lanka opens IMF talks, begins shutdown

Sri Lanka

Sri Lanka is in grip of the worst economic crisis after running out of foreign currency. IMF begins negotiations with Colombo on the possible bailout. Students demand the resignation of President Gotabaya Rajapaksa. Sri Lanka stopped schools and suspended non-essential government activities, kicking off a two-week closure to conserve rapidly diminishing fuel reserves as the … Read more

Katie Price to appear in court again for a £3,200,000 bankruptcy debt

Katie Price

Katie Price appears in court for the second time. This time regarding her bankruptcy. She was due to pay £12,000 in arrears to her creditors every month for four years. Legal difficulties of Katie Price are set to continue this week when she appears in court for the second time, this time regarding her bankruptcy. … Read more

Johnny Depp to weave Amber Heard’s damages?

Johnny Depp

Amber Heard was awarded $8.35 million in damages as a result of her loss. Depp could waive the charge or negotiate a smaller sum. If he does force her to pay the whole amount, Heard may file a claim for damages. Even if she wins her appeal, she’ll have to pay while the appeal is … Read more

Bankrupt Slough Borough spends £28,000 on indoor plants

First time in history scientists grow plants in soil from the moon

Bankrupt Slough Borough spends £28,000 on indoor plants A council that bowed out of all financial obligations last year soon burned through £28,000 on indoor plants which a councilor said are currently “passing on”. Bog Borough Council purchased the 200 plants for its £41m Observatory House HQ when it moved in 2019. Its board chief … Read more

Sri Lanka loan request were ‘fruitful’, IMF says

Sri Lanka

The International Monetary Fund said on Saturday that its staff conducted “fruitful technical conversations” with Sri Lankan officials this week over the island nation’s request for an IMF-backed loan package. According to the Fund, the discussions focused on the need for Sri Lanka to develop a “credible and cohesive plan” to restore macroeconomic stability, enhance … Read more

Bankrupt Sri Lanka looks to expand airline fleet

Bankrupt

Bankrupt Sri Lanka’s loss-making national carrier revealed plans Thursday to lease up to 21 airplanes, only two days after the  government declared a default on its $51 billion foreign debt. The island country is in the hold of its most difficult financial slump since autonomy in 1948, with extreme deficiencies of fundamental products and standard … Read more

Bankrupt Sri Lanka seems to amplify airline fleet

Bankrupt Sri Lanka

Cash-strapped Sri Lanka’s loss-making national carrier announced plans Thursday to lease up to 21 plane, just two days after the authorities introduced a default on its $fifty one billion overseas debt. The island kingdom is inside the grip of its maximum painful financial downturn since independence in 1948, with extreme shortages of important items and … Read more

‘Jail restaurant’ raises to free bad debt inmates

tehran

TEHRAN – Two Iranian ex-prisoners have opened a successful “jail restaurant” to help raise funds to free convicts languishing behind bars for unpaid debts. A storefront picture of their “Cell 16” diner in eastern Tehran shows a frustrated prisoner holding a chicken leg in one hand and trying with the other to bend the bars … Read more