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London offers free lunches to all students

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Parents are struggling to provide lunches to their children as cost of living crisis worsens

 
As the cost of living crisis worsens in the UK, London’s mayor has unveiled a new emergency plan which will see all children at the city’s state schools given free meals.

It follows a string of new evidence which indicates a lot of Brits are really struggling to afford the necessities.

Inflation is nearing its highest level in four decades, eroding wages and welfare payments.

The 130 million pound program will run for the academic year starting in September, saving families around 440 pounds per child.

A quarter of all London pupils already qualify for free school meals and the new program is expected to help around 270,000 students who are not currently eligible.

The mayor also believes it will help reduce the “stigma that can be associated with being singled out as low income”. #trending #featured

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Etihad in trouble over emissions reduction plans

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Australia’s consumer watchdog is considering action

 
Etihad is in hot water over allegations it lied about its emissions reduction plans.

Australia’s consumer watchdog is now considering action against the airline as the body crackdown on so-called greenwashing.

It follows two Etihad advertisements that appeared on digital advertising banners during a football match at Melbourne’s AAMI Park on 15 February last year.

The ad had the words “net zero emissions by 2050” next to its logo.

In another commercial, the airline claimed “Flying shouldn’t cost the Earth”.

Flight Free Australia claims the ads convey the misleading impression that flying with Etihad does not have a significant environmental impact and Etihad intends to achieve net zero by 2050.

But the group says middle eastern airline has no credible path to net zero emissions by this date and it is not “technologically, practically, or economically feasible” to reach this goal. #trending

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Sports billion-airs: athletes living the high life

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From flat screen TVs, endless snacks and more champagne than anyone could imagine.

It’s not quite business class, these are the private jets that are taking off more than ever before.

And some of the world’s biggest athletes are among those living life in the fast lane.

For these professionals at the top of their game, it makes perfect sense.

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Janet Yellen admits banking system is stabilising

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The U.S. Treasury Secretary admits more may need to be done, if runs on other regional banks occur

U.S. Treasury Secretary Janet Yellen said that the country’s banking system is stabilising, but further steps may be needed to protect depositors if runs on other regional banks threaten contagion.

“Our intervention was necessary to protect the broader U.S. banking system, and similar actions could be warranted if smaller institutions suffer deposit runs that pose the risk of contagion.”

Her comments came at an American Bankers Association conference, more than a week after the Federal Deposit Insurance Corporation, or FDIC, closed the failing Silicon Valley Bank and Signature Bank.

Yellen said she believed the actions of the FDIC, the Federal Reserve and the Treasury had reduced the risk of further bank failures that would have imposed losses on the bank-funded Deposit Insurance Fund.

“Let me be clear: the government’s recent actions have demonstrated our resolute commitment to take the necessary steps to ensure that depositors savings and the banking system remain safe.”

Yellen did not provide details on what further actions may be warranted.

She said that the current situation was “very different” from the 2008-2009 global financial crisis, when subprime mortgage assets put many banks under stress.

“We do not see that situation in the banking system today. Our financial system is also significantly stronger than it was 15 years ago.”

Yellen did, however, add that in coming weeks, regulators will examine the failures of SVB and Signature Bank, and reexamine whether current regulatory and oversight protocols are appropriate for the risks that banks face today.

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