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Added on the 13/08/2018 08:42:49 - Copyright : Wochit
Russia's rouble slumps to record lows as world oil prices fall. But is there worse to come? Grace Pascoe looks at how oil-exposed countries are feeling the pain.
Indian PM Narendra Modi says that the entire world is "with Morocco" after an earthquake killed at least 296 people earlier Friday. SOUNDBITE
The Lebanese pound sinks to a historic low against the dollar on the parallel market, as banks in the crisis-hit country resumed an open-ended strike. The Lebanese pound, officially pegged at 15,000 to the dollar, was trading at 100,000 against the greenback on Tuesday, dealers said -- a dizzying plunge from 1,507 before the economic crisis hit in 2019. IMAGES
European Central Bank president Christine Lagarde says interest rates will stay at their current record low levels until it sees inflation "durably" reaching the bank's new target of two percent. IMAGES
Ending a six-month run of spiraling demand, sales of existing homes in the US contracted in November. It's being read as a signal that rising prices and historically low supply is finally slowing the housing market's rally. According to Business Insider, the National Association of Realtors says home sales fell 2.5% last month to a seasonally adjusted annual rate of 6.69 million. The median price for existing homes fell to a six-month low as well, dipping month-over-month to $310,800 from $313,100. Even so, the pace is still up 25.8% from the year-ago period.
On Thursday, Disney previewed dozens of new series and movies for its Disney+ streaming service. According to CNN, investors are loving it. On Friday, shares of Disney jumped 11% to a new all-time high. The stock is now up nearly 20% this year. It's an astonishing achievement since the pandemic wreaked havoc on Disney's theme park business. It also forced its movie studios to delay big releases in theaters.
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