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Blackout Hits Spain and Portugal
Spain and Portugal experienced a massive power outage that affected millions of households.
The disruption paralyzed transportation, communication, and the operation of institutions in major cities, including Madrid, Barcelona, and Lisbon. Hospitals switched to backup generators, while metro systems and airports temporarily suspended operations.
According to Red Eléctrica, the outage occurred around 12:15 PM, causing a sharp drop in electricity demand.
Authorities are considering two potential causes: damage to a power transmission line in France or a cyberattack.
Power restoration has begun, but some consumers still wait for it.
Spain and Portugal experienced a massive power outage that affected millions of households.
The disruption paralyzed transportation, communication, and the operation of institutions in major cities, including Madrid, Barcelona, and Lisbon. Hospitals switched to backup generators, while metro systems and airports temporarily suspended operations.
According to Red Eléctrica, the outage occurred around 12:15 PM, causing a sharp drop in electricity demand.
Authorities are considering two potential causes: damage to a power transmission line in France or a cyberattack.
Power restoration has begun, but some consumers still wait for it.
Global Economy Braces for Recession in Summer 2025
The chief economist at Apollo has outlined a scenario for an impending recession, which could become one of the most painful economic events in recent years. Here’s how he describes the timeline of the collapse:
April 2 / April 9 — Introduction of Tariffs
Container shipments from China to the U.S. begin to slow down significantly. Containers take between 20 and 40 days to reach ports like Los Angeles and New York.
Early May / Mid-May — Disruption of Cargo Flow
The flow of goods from China comes to a complete halt. Typically, it takes 1 to 10 days for goods to move from ports to store shelves, but now this flow ceases entirely.
Mid-May / Late May — Supply Chain and Retail Disruptions
Demand for freight transportation plummets. Store shelves go empty. Companies begin planning for reduced sales volumes. The freight industry, which employs around 5 million people, faces severe strain.
Late May / Early June — Mass Layoffs Begin
Layoffs start in the freight and retail sectors. Unemployment begins to rise.
Summer 2025 — Welcome to the Recession
The economy officially enters a phase of deep contraction.
Quotes Supporting This Scenario:
1. CEO of Southwest Airlines:
“I don’t know if you can call it a recession or not, but my industry is definitely in a recession.”
2. CEO of Chipotle:
“Economic uncertainty is causing consumers to cut back on the frequency of their visits to our restaurants.”
3. CEO of PepsiCo:
“Compared to three months ago, our expectations regarding consumer sentiment have significantly deteriorated.”
The scenario appears alarmingly realistic. The tariffs introduced by the U.S. have already begun to disrupt global supply chains. The sharp drop in imports from China will lead to a shortage of goods, triggering panic among consumers and businesses.
Mass layoffs in key sectors like logistics and retail will act as a catalyst for deepening the crisis. When millions of people lose their jobs, consumer demand will collapse, setting off a domino effect across other sectors.
If the Apollo economist’s forecast proves accurate, the world is heading into one of the most challenging recessions in decades. Let’s hope governments and companies find ways to mitigate the impact of the impending crisis.
The chief economist at Apollo has outlined a scenario for an impending recession, which could become one of the most painful economic events in recent years. Here’s how he describes the timeline of the collapse:
April 2 / April 9 — Introduction of Tariffs
Container shipments from China to the U.S. begin to slow down significantly. Containers take between 20 and 40 days to reach ports like Los Angeles and New York.
Early May / Mid-May — Disruption of Cargo Flow
The flow of goods from China comes to a complete halt. Typically, it takes 1 to 10 days for goods to move from ports to store shelves, but now this flow ceases entirely.
Mid-May / Late May — Supply Chain and Retail Disruptions
Demand for freight transportation plummets. Store shelves go empty. Companies begin planning for reduced sales volumes. The freight industry, which employs around 5 million people, faces severe strain.
Late May / Early June — Mass Layoffs Begin
Layoffs start in the freight and retail sectors. Unemployment begins to rise.
Summer 2025 — Welcome to the Recession
The economy officially enters a phase of deep contraction.
Quotes Supporting This Scenario:
1. CEO of Southwest Airlines:
“I don’t know if you can call it a recession or not, but my industry is definitely in a recession.”
2. CEO of Chipotle:
“Economic uncertainty is causing consumers to cut back on the frequency of their visits to our restaurants.”
3. CEO of PepsiCo:
“Compared to three months ago, our expectations regarding consumer sentiment have significantly deteriorated.”
The scenario appears alarmingly realistic. The tariffs introduced by the U.S. have already begun to disrupt global supply chains. The sharp drop in imports from China will lead to a shortage of goods, triggering panic among consumers and businesses.
Mass layoffs in key sectors like logistics and retail will act as a catalyst for deepening the crisis. When millions of people lose their jobs, consumer demand will collapse, setting off a domino effect across other sectors.
If the Apollo economist’s forecast proves accurate, the world is heading into one of the most challenging recessions in decades. Let’s hope governments and companies find ways to mitigate the impact of the impending crisis.
Ukraine has suggested that allied countries introduce duties on goods coming from Russia
The idea is that all Russian goods would get hit with a special tax, and the money collected would go into a fund for rebuilding Ukraine. On top of that, Ukraine has once again insisted on seizing all frozen Russian assets and handing them over to Ukraine.
The idea is that all Russian goods would get hit with a special tax, and the money collected would go into a fund for rebuilding Ukraine. On top of that, Ukraine has once again insisted on seizing all frozen Russian assets and handing them over to Ukraine.
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Moderna Faces Threat of Ban in the UK
It has come to light that the COVID vaccine manufacturer violated at least ten laws while promoting its products.
For instance, Moderna reportedly offered children £1,450 and teddy bears in exchange for taking an experimental COVID vaccine without properly disclosing potential side effects. Additionally, Moderna was found to have bribed British officials and lied about the progress of clinical trials in order to secure contracts more quickly.
It has come to light that the COVID vaccine manufacturer violated at least ten laws while promoting its products.
For instance, Moderna reportedly offered children £1,450 and teddy bears in exchange for taking an experimental COVID vaccine without properly disclosing potential side effects. Additionally, Moderna was found to have bribed British officials and lied about the progress of clinical trials in order to secure contracts more quickly.