Why the ship that blocked the Suez Canal is still stuck

Published

1 year ago

May 5, 2021

A court in Egypt is preventing the container ship that blocked the Suez Canal from leaving the country.

Authorities are seeking over $900 million in compensation for damages caused by the ship that became stuck in the Suez Canal in March.

Although the court is moving to resolve the matter as quickly as possible, for now, the vessel isn’t going anywhere.

The Suez Canal Authority (SCA) lodged the $1.2 billion dispute against the Japanese owner for compensation.

The Japanese ship at the centre of the drama

The Japanese company that owns the ship, Ever Given, that is at the centre of the investigation.

The 400-metre ship was on its way to the Dutch port of Rotterdam when it slammed into the bank of the Suez Canal.

The ship had over 18,300 containers on board at the time of the collision.

It became lodged in the southern end of the busy shipping passage and remains in a lake between two stretches of the canal.

The Ever Given ship is stuck in the Suez Canal

Russia defaults on foreign debt for the first time in a century

Published

54 mins ago

June 27, 2022

Natasha Schapova

Russia has failed to pay out its overseas debt for the first time in over 100 years

The country missed its Sunday deadline due to challenges in transferring the payments to international creditors.

Moscow has the funds to make the 100 million dollar payment but sanctions have complicated the process.

The country is unhappy with the situation with the finance minister calling the situation “a farce”.

The last time that Russia defaulted on its foreign debt was in 1918 when leader Vladimir Lenin did not pay out debts on behalf of the Russian Empire.

Russia has been hit with sanctions by a number of countries in response to its invasion of Ukraine.

Instagram introduces new process to crack down on underage users

Published

2 hours ago

June 27, 2022

Brittany Coles

Instagram is exploring new ways for teenagers to verify their age and comply with platform rules.

The gram is turning to video selfies to crack down on minors editing their date of birth to make them appear over 18.

The Meta-owned app is testing video selfies with facial analysis software as a new age-verification method.

For a U.S. teen who wants to join insta, they will need to upload ID, ask three adult users to vouch for them or take a video selfie.

Meta says it hopes the new methods will ensure teens have an “age-appropriate experience” on the content sharing app.

Video selfies have become a popular way for digital platforms – such as online banking apps – to verify users’ age or identity.

U.S. firms to pay staff travel expenses for abortions

Published

2 hours ago

June 27, 2022

Brittany Coles

Major companies have reassured staff that if they require an abortion, they will cover their travel expenses

Disney, JP Morgan, Amazon and Meta are among the companies to announce similar moves for women.

This comes as millions of US women face restricted access after a landmark ruling by the US Supreme Court overturned the constitutional right to abortion.

A growing number of companies have confirmed they will cover travel costs through their health insurance plans for employees who leave their home state to get an abortion.

Disney employs around 80,000 people at its resort in Florida, where the governor has already signed into law a ban on abortions after 15 weeks of pregnancy, which is scheduled to take effect on 1 July.

Banking giant JP Morgan and another leading US investment bank, Goldman Sachs, also said it would cover travel expenses for employees.

Social media company Meta said it intended to reimburse travel expenses where permitted by law.

Other companies which have indicated they will take similar steps include Vogue publisher, jeans brand Levi and ride hailing companies Lyft and Uber.