Tag: crisis

Lebanon’s Economic Crisis Is Spinning Out of Control, Fast

(Bloomberg) — Lebanon’s economic crisis is fast slipping out of control, driven by a currency collapse that’s decimating businesses and plunging families into destitution.

While politicians and bankers trade blame on the airwaves, the country’s pound has lost nearly 60% of its value on the black market in the past month, threatening to suck the economy into a hyper-inflation spiral. Food prices are rising so fast that the army took meat off its menus last week. The state-controlled price of a bag of flat-bread was raised by a third.

Blackouts are spreading as fuel runs out. Facing ruinous losses, well-known

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Coronavirus crisis will reveal which startups are ‘houses of cards’: Fast Company Editor-in-Chief

Layoffs at high-profile tech giants like Uber (UBER) and Lyft (LYFT) grabbed headlines in recent weeks, though the novel coronavirus has also decimated the next generation of aspiring unicorns, forcing some to close permanently.

Some promising ventures may succumb to unfortunate circumstances, but the economic crisis also reveals which early-stage companies can draw on the effective leadership and sustainable business model necessary to weather a downturn, says Stephanie Mehta, the editor-in-chief of business publication Fast Company.

“We’re going to see the companies that actually have real business plans and real models that will be able to sustain them on the

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Pay cuts for top officials might not be enough as UM faces crisis, considers layoffs

The University of Miami stands to lose “hundreds of millions of dollars over the coming year” due to the financial havoc wreaked by the novel coronavirus, according to an email sent this week by President Julio Frenk to the Canes community.

“COVID-19 has taken many thousands of lives, hundreds right here in our community,” he said. “Compounding that loss, we are facing a significant economic disruption.”

To help offset the projected losses of closing campus this spring and summer and possibly the fall, Frenk said his administration will expand budget cuts announced earlier this month and implement new measures, including

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