2014 -- the next world crisis?

(PhysOrg.com) -- A cataclysmic "Great Event" is approaching which will occur in or around the year 2014 and determine the course of the rest of the 21st century, according to a startling new thesis published this week.

Five billion people to use mobile phones in 2010: UN

The ranks of cell phone subscribers will swell to five billion people this year thanks to the growth of smartphones in developed nations and mobile services in poor nations, a UN agency said Monday.

Lake Maracaibo, lightning capital of the world

One firebolt after another illuminates a stilt-house settlement where the Catatumbo river flows into Venezuela's Lake Maracaibo, the lightning capital of the world.

Wood-burning sets off pollution alarm bells in Athens

Air pollution in Athens has surged in recent days because of people choosing wood over more expensive fuels to heat their homes in the grips of a continuing economic crisis, the environment ministry said Friday.

Airbus A380: From high-tech marvel to commercial flop

This time it really is over. Airbus chief executive, Tom Enders, recently announced the end of the A380, the largest commercial aircraft ever built. Despite reported investments of more than €14 billion, this iconic European ...

'Unfunded liabilities' a financial myth, expert says

A growing chorus of complaints about the U.S. government’s “unfunded” debts may be unsettling, but no cause to become unnerved, a University of Illinois tax expert says.

EU unveils trillion-euro single energy market

The European Union's energy chief Wednesday unveiled an ambitious 10-year trillion-euro energy investment plan for a single EU energy network to cut fossil fuel imports and fight climate change.

Cuba to use sugar cane in new electricity plant

Cuba will open its first electricity plant using sugar cane as a biofuel hoping eventually to meet 30 percent of its energy needs from the fuel source, the official Granma daily said Thursday.

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Financial crisis

The term financial crisis is applied broadly to a variety of situations in which some financial institutions or assets suddenly lose a large part of their value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and many recessions coincided with these panics. Other situations that are often called financial crises include stock market crashes and the bursting of other financial bubbles, currency crises, and sovereign defaults.

Many economists have offered theories about how financial crises develop and how they could be prevented. There is little consensus, however, and financial crises are still a regular occurrence around the world.

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