Chinese regulators have cut the premium that local governments must pay to issue debt, sources with direct knowledge of the matter told Reuters on Tuesday, lowering their borrowing costs as Beijing hopes to kick start investments and shore up growth.
Devastating earthquakes, floods, hailstorms and wildfires, along with man-made devastation, helped push global disaster costs to $175 billion (161 billion euros) last year, reinsurer Swiss Re said on Thursday.
Smoking costs the global economy more than $1 trillion a year, and will kill one third more people by 2030 than it does now, according to a study by the World Health Organization and the US National Cancer Institute published on Tuesday.
It’s become an ironclad fact of life: Higher education is a prerequisite for a middle-class lifestyle. But a new joint study shows that spiraling costs are pushing higher education further from reach for lower- and middle-income families, while state lines can determine how much they’ll pay.
The cost of the UK’s winter floods will top £5 billion and thousands of families and businesses will face financial ruin because they have inadequate or non-existent insurance, a leading accountant has warned, as the government defended its record on flood defenses.