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Massive explosion rocks Beirut, amid protests and pandemic


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Market News

Last Week’s Highlights

Explosion in Beirut

Lebanon’s capital city experienced a massive explosion this past week on Tuesday. It is estimated that there are hundreds of thousands now without a home, thousands injured, and around 154 reported dead. The massive amount of ammonium nitrate that exploded has reportedly been stuck in the Beirut port for around seven years, with its original destination set as Mozambique. Now, this devastating event is expected to have serious consequences for the country and the Lebanese people, including a humanitarian crisis.

US Sanctions on Hong Kong Leader

As tensions have continued to rise and Hong Kong officials have failed to protect their people from encroaching Chinese power, the US has declared sanctions on the special administrative region’s leader, Carrie Lam. Among Lam are ten other officials. This announcement comes after a recent denouncement of Chinese actions to suppress democractic policies in Hong Kong, and the repression and brutality of Chinese and Hong Kong law enforcement at resulting public protests

Coming Up This Week

South Africa Needing Help Controlling COVID-19

As the pandemic continues to maintain its grip on the world, populations in countries like South Africa are starting to see spikes in infection rates. In fact, South Africa appears to hold nearly half of the continent’s one million infections and its country with the highest death toll. The UN recently got involved by employing a team of experts to go to South Africa in an attempt to control the spread of SARS-CoV-2.

Schools Starting Around the Globe, Scary Results

Though summer is now in full swing in the northern hemisphere, the thought of schools reopening still remains on the minds of many. In Israel, school openings were thought to be the next step in reopening. Now, the Mediterranean country finds itself shutting them back down. Countries like Italy, among the worst to be hit in Europe, are also now expecting to begin a new semester in September. And while the risks of catching COVID-19 for children appear relatively low, the results of kids passing the virus on to parents, teachers, and administrators could prove devastating.


More Things to Sip On…

A plane carrying Indian nationals crashes in Kerala.

Still down tens of millions of jobs, the outlook for US employment markets doesn’t look good.

Germany will require COVID-19 testing upon arrival ~for free~.


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Disclaimer
Visit our Disclosures section for additional information. All market information provided was collected in the afternoon of August 7, 2020. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in News Flight are not representative of FlexInvest Inc.

All information provided was collected up to the last business day of the previous week of the release of this NewsFlight. The purpose of NewsFlight is to summarize and make accessible information on a variety of topics within the world of investing and personal finance, and thus cannot be considered formal research or reports. All sources utilized to compile the NewsFlight newsletter are considered trustworthy by the FlexInvest team. FlexInvest is not affiliated with and does not receive remuneration from the news sources used to compile NewsFlight. As well, any images or logos incorporated into the NewsFlight newsletter are not necessarily property of FlexInvest and may solely be included to provide context for the news covered. NewsFlight should not be taken as advice to sell or buy securities or to make any investment. When investing in securities or other financial products, there is always the potential to lose money or asset value. FlexInvest recommends that its users consider their investment objectives and risks before investing. Additionally, any projections or analysis made by authors of NewsFlight cannot be considered as a promise of future trends or returns. Opinions expressed in NewsFlight are not representative of FlexInvest.

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