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New Zealand declares National State of Emergency

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New Zealand has declared a National State of Emergency due to the impact of Cyclone Gabrielle.

The Minister for Emergency Management signed the declaration early Tuesday morning.

This is only the third time in New Zealand’s history that a National State of Emergency has been declared.

Thousands are without power in New Zealand as a tropical cyclone hits part of the country.

Gabrielle was downgraded from a category two to a category one storm before it made landfall.

“It’s a one in 100 year weather event and we seem to be getting a lot of them at the moment,” said Prime Minister Chris Hipkins.

But New Zealand is bracing for even more severe weather.

The regions of Northland and Auckland are under a state of emergency.

Professor Ian Young from the University of Melbourne said climate change is prompting western countries to act.

“Right now, the annual impact of coastal flooding is about 0.3% of global GDP. And we estimate that if we do nothing that will rise to about 3% of GDP,” he said.

Air New Zealand has cancelled over 500 flights with services expected to resume on Tuesday.

The airline is adding 11 extra flights to help with the recovery effort.

Meanwhile, the New Zealand Defence Force has located 150 staff throughout Auckland and neighbouring regions.

“This is part of a growing problem for low lying countries. Look at developed nations particularly those in Asia, places like Bangladesh, in particular areas in Egypt, in the Delta of the Nile, for instance.

“These are relatively low elevation areas, so they’re particularly vulnerable to sea level rise and to extreme coastal flooding,” Professor Young said.

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Money

Why “Stagflation” will be the greatest financial threat of 2024

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With inflation soaring and economic growth tapering off, concerns about stagflation are on the rise

Stagflation, a situation characterised by high inflation coupled with stagnant economic growth, presents a unique challenge that many are ill-prepared to face.

Mark Wyld from MW Wealth joins to unpack what defines “stagflation”. #featured

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Will Tesla’s supercharger layoffs eventually payoff?

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Tesla CEO Elon Musk dissolves supercharging team, leaving customers stranded.

Elon Musk’s decision to disband Tesla’s electric vehicle charging team has left customers concerned about the future of the company’s charging infrastructure.

The move comes as a surprise to many, considering Tesla’s commitment to expanding its charging network to support its growing fleet of EVs #featured

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TikTok’s fate in the United States

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TikTok’s fate in the United States has never been more in doubt.

Congress approved a bill, which President Joe Biden signed into law that gives its Chinese parent company two options: sell it to an approved buyer or see it banned.

But now, the owners of the popular social media app says they’re preparing to challenge the statute in court.

Andy Keiser a Senior Fellow at the National Security Institute, and a Former Senior Advisor for the House Intelligence Committee joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #business #socialmedia #TikTok #TikTokban #nationalsecurity

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