YOUR WEEKLY NEWS UPDATE
1. Being confined in a 22-foot submersible, thousands feet underwater, with oxygen running low, is a cramped and frightening thought. The five crew members conditions and the precise location of the Titanic submarine are undetermined. The vessel could only have a couple of hours of oxygen left if it is still intact, triggering a race against time to track down the sub before it is too late. That schedule is not always rigid. The crew also puts themselves at risk of hypothermia, a condition in which the body becomes excessively chilly.
2. Four businesses were penalised by Singapore’s finance authorities for violations connected to the Wirecard affair. According to the Monetary Authority of Singapore, the fines total S$3.8 million. Despite the severity of the offences, the MAS asserted that it had not found any evidence of staff members of financial institutions acting maliciously. The local operations of Swiss Life Insurance and US-based Citigroup, as well as the Singaporean banks DBS and OCBC, were all hit with fines. DBS received the largest penalty, a $2.6 million penalty.
3. As part of its efforts to combat increasing prices, the Bank of England is anticipated to hike interest rates for the thirteenth time. The annual rate of inflation in May remained unchanged at 8.7%. This has increased the chances that the Bank will declare an increase in its benchmark rate from 4.5%. Despite disagreements concerning their efficacy, interest rates continue to be their main instrument for reducing inflation. Analysts predict an increase to 4.75%; however, an increase to 5% is conceivable. The bank had lost control of inflation.
4. Given current geopolitical and economic headwinds, Indian Prime Minister Narendra Modi’s trip to the US has taken on major importance. The White House is making every effort to formally welcome Mr. Modi. Highlights of Mr. Modi’s previous US visits included a meeting with CEOs, a speech to a joint session of Congress, and talks with Indian-Americans. Behind the well-planned rituals are talks that could not only revive India-US relations but also have an effect on the international system. The US may need India’s impact in the Indo-Pacific area.
5. According to the European Space Agency, the seas surrounding the UK and Ireland have experienced some of the most extreme marine heat increases on Earth. Water temperatures are up to 3 to 4 °C above typical for this time of year in some places. Off the east coast of the UK and Ireland, the sea seems warmer. Climate change, induced by humans, is the cause. Scientists caution that such extreme heat can kill fish and other marine life. Storm systems can gather more energy and continue longer; marine heatwaves are also linked to severe weather.
6. The massive Beluga freight plane, which is waiting to fly cars and satellites all across the world, is where Airbus conducts a lot of its research and development in an effort to increase the abilities of the autopilot. The job of the pilot has changed as a result of automation. The three areas the project concentrated on were enhanced autonomous landing, taxi assistance, and automated emergency diversion. This technology is intended to take control in the event that the pilots are incapacitated or must concentrate on making vital decisions.
Date: 23/6/23
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