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Sri Lanka declares a state of emergency



Sri Lanka is in a state of emergency, as protesters push for a new government amid economic uncertainty

Sri Lanka’s Prime Minister Ranil Wickremesinghe has been appointed as the nation’s acting president.

It follows the incumbent Gotabaya Rajapaksa fleeing the country on a military jet.

Sri Lanka’s Prime Minister Ranil Wickremesinghe becomes the acting president.

It is believed the 73-year-old landed in the Maldives and will soon make his way to his final destination with his wife and two security officials.

Sri Lanka is in the grips of its worst economic crisis in 70 years, with protesters storming the presidential palace at the weekend.

A man stands in the swimming pool at the Sri Lankan President’s house.

Rajapaksa promised to resign by Wednesday. His departure ends a family dynasty, which has been at the helm of Sri Lankan politics for two decades.

It’s understood police fired tear gas at protesters to stop them from clashing with security officials.

Worsening economic crisis

Sri Lanka has previously defaulted on its debt for the first time in its history.

Earlier this year, the nation was forced to come up with $78 million of unpaid debt interest payments.

Police have imposed a curfew across the Western Province, which includes the nation’s capital of Colombo.

Wickremesinghe has also announced an intention to resign if there is no consensus on forming a unity government.

The President of Sri Lanka enjoys freedom from arrest, which has allowed Rajapaksa to leave the nation to avoid being detained.

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.

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How to make your money work for you over the next decade



With high interest rates, persistent inflation, and a tight labor market—the next decade is expected to be very different from the last 10 years.

Companies and households around the world are still trying to get back to pre-pandemic economic outputs and lifestyles.

So, how can people successfully invest and better manage their personal finances?

James Faris, an Investing Reporter with Insider joins Veronica Dudo to discuss. #InAmericaToday #featured #money #finance #economy #investing

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Parents buying houses for their adult children



Rise in parents purchasing homes for adult children sparks concerns

A growing trend of parents buying houses for their adult children is causing a stir, raising questions about the potential downsides of such arrangements. While the gesture may seem benevolent, experts warn of the pitfalls associated with this practice.

Financial advisors express concerns about the impact on both generations’ financial independence. By providing ready-made homes, parents might inadvertently hinder their children’s ability to learn crucial financial lessons, such as budgeting, mortgage management, and property ownership responsibilities.

The trend also sparks debates on the long-term implications for the housing market. Critics argue that such parental interventions can distort property prices and exacerbate existing affordability challenges, particularly for younger individuals aspiring to enter the property market independently.

There’s a call for a broader societal discussion on the balance between parental support and fostering financial autonomy. While the intention is often rooted in care, the unintended consequences of sheltering adult children from financial realities are prompting a reassessment of this well-meaning practice.

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Victoria’s Secret criticized for trans woman’s apology



Victoria’s Secret is facing backlash after issuing an apology to a transgender woman who had a negative experience while trying on bras at one of their stores.

The incident has ignited a debate about inclusivity and sensitivity in the fashion industry.

The controversy began when the trans woman, who remains anonymous, visited a Victoria’s Secret store to shop for bras. She reported feeling uncomfortable and discriminated against by store staff.

In response to her complaint, Victoria’s Secret issued an apology, acknowledging the incident and expressing their commitment to diversity and inclusion.

However, the apology itself has come under fire from both supporters and critics.

Some argue that the brand’s apology is insincere and merely an attempt to save face, while others believe it is a step in the right direction towards a more inclusive shopping experience for all customers.

The incident raises important questions about how brands should handle situations involving discrimination and whether their apologies are genuine or performative.

It also highlights the ongoing challenges faced by transgender individuals when accessing spaces traditionally designed for cisgender customers.

As the fashion industry continues to evolve, many are calling for a deeper examination of inclusivity and sensitivity, not just in policies but in practice.

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