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Rising borrowing costs batter UK government and threaten to derail its left-leaning program

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www.news4jax.com – Danica Kirka, Associated Press – 2025-01-15 06:15:00

SUMMARY: Britain’s new government, facing backlash over higher taxes and spending decisions, now confronts rising borrowing costs that jeopardize its left-leaning agenda. Since mid-September, the yield on the U.K.’s 10-year bonds has surged due to concerns about slow economic growth and persistent inflation, reaching levels not seen since the 2008 financial crisis. This rise limits funding for vital public services, including the National Health Service. High government debt, currently over 98% of GDP, further complicates efforts to manage costs. With economic stagnation, the new administration may need to reconsider its commitments to spending and taxation amidst global economic uncertainties.

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Investigators will question a driver who allegedly rammed a car into a crowd in Germany, killing 2

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www.news4jax.com – Stefanie Dazio, Associated Press – 2025-03-04 02:48:00

SUMMARY: In Mannheim, Germany, a 40-year-old man is being interrogated by police after allegedly driving into a crowd, resulting in two fatalities and 11 injuries. Investigators aim to uncover the motive, though initial reports indicate no extremist or religious links to the crime. The suspect, who has prior convictions, including assault and drunken driving, is currently hospitalized following self-inflicted injuries during his arrest. Local authorities emphasized that the incident does not pose further risk to the public. Recent similar acts of violence in Germany raise concerns about public safety, prompting calls for preventive measures from political leaders.

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Asian shares fall after Wall St retreats on fears over hit to the US economy from Trump’s tariffs

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www.clickorlando.com – Elaine Kurtenbach, Associated Press – 2025-03-03 20:43:00

SUMMARY: Asian shares opened lower on Tuesday following a sharp decline in U.S. stocks amidst the impending implementation of higher tariffs by President Trump on Canada, Mexico, and China. The Nikkei 225 dropped 1.9%, and the Hang Seng lost 1.6%, as fears of retaliatory measures from China, particularly targeting U.S. agricultural exports, loomed. The S&P 500 fell 1.8%, with Trump’s tariff announcement casting doubt on future negotiations. Weaker-than-expected U.S. manufacturing data added to market pessimism, with significant losses for tech stocks like Nvidia and Tesla. European markets performed better following easing inflation reports, while crude oil and cryptocurrency prices also declined.

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UN food program closes its southern Africa office in the wake of Trump administration aid cuts

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www.news4jax.com – Gerald Imray And Farai Mutsaka, Associated Press – 2025-03-03 14:46:00

SUMMARY: The United Nations’ World Food Program (WFP) is closing its southern Africa office due to aid cuts from the Trump administration, which terminated 90% of USAID’s foreign aid contracts. Acknowledging constrained funding, WFP spokesperson Tomson Phiri stated the agency will consolidate its southern and East Africa operations into a regional office in Nairobi, Kenya. Despite the office closure, WFP’s commitment to assist vulnerable communities remains strong. The organization faced a severe funding loss, as it received $4.4 billion from the U.S. last year, significantly influencing its annual budget. The WFP continues to seek donations to address increasing hunger in the region.

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