Hollywood scorched, UK bond pain, Lebanon’s election, and Mali’s gold fight
Reuters World News
Deep Dive
Why are wildfires in Los Angeles particularly devastating this year?
The wildfires have spread to the Hollywood Hills, burning near iconic locations like Hollywood Boulevard and the Walk of Fame. At least five people have died, hundreds of homes—including celebrity mansions—have been destroyed, and firefighting resources and water supplies are stretched to the limit. Over 100,000 people have been evacuated, and the fire remains 0% contained.
What is causing turmoil in UK bond markets, and how is it affecting Finance Minister Rachel Reeves?
Investors are worried about high borrowing in the UK, persistent inflation, and the potential impact of U.S. policies under President-elect Donald Trump. Bond yields have spiked to their highest since 2008, putting pressure on Rachel Reeves. Her limited fiscal options include raising taxes or cutting spending, with the latter being more likely despite potential political backlash.
What is at stake in Lebanon’s presidential election, and why is Hezbollah’s influence diminished?
The election could end a two-year presidential vacuum, with Army Commander Joseph Aoun as the leading candidate. Hezbollah, weakened by recent conflicts and regional shifts, has not vetoed Aoun, signaling a need for international consensus. Aoun’s election could strengthen the Lebanese army’s role in maintaining the ceasefire with Israel.
Why is the standoff between Barrick Gold and Mali escalating, and what are the implications?
Mali has restricted gold shipments from Barrick, demanding a larger share of revenues. Barrick, which accounts for 14% of its global gold output from Mali, has threatened to suspend operations. The conflict is part of a regional trend where West African nations seek greater control over mineral resources, but Barrick’s significant economic contributions make the relationship hard to sever.
How has the Hollywood Hills wildfire impacted residents and iconic landmarks?
Residents like Curtis returned to find their homes and neighborhoods reduced to rubble. The fire has destroyed iconic buildings and scenic areas, with the devastation described as apocalyptic. The hazy smoke and flattened structures have left the area unrecognizable.
- Wildfires in Hollywood Hills, above Hollywood Boulevard
- Over 100,000 people evacuated
- At least five deaths
- Hundreds of homes destroyed
- Firefighting resources stretched to the limit
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