Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

World

24 Oct 2021

Spain Promised to Move Faster in Aiding the Volcano-hit La Palma Island

The Index Today

Prime Minister Pedro Sanchez mentioned that Spain would speed up help to the most affected industry of agriculture and fishing on the island of La Palma, where part of the volcano's cone erupted on Saturday and red hot lava continued to flow over a month now.
According to the Reuters report, the lava has covered almost 900 hectares of land, destroying over 2,000 buildings and many banana plantations. More than 7,000 people have had to leave their homes since the eruption started on Sept. 19.
Sanchez said during the press conference, "At the cabinet meeting next Tuesday we are going to make a budgetary modification to accelerate the arrival of economic resources for both the Employment Plan and aid for the entire agriculture and fishing sector."
In addition to the Reuters report, they mentioned that on early October, Sanchez announced 206 million euro ($239 million) in government funding for the island to rebuild infrastructure and boost employment, agriculture and tourism.
The Canary Islands Volcanology Institute mentioned that part of the main cone had also collapsed on Saturday morning. They tweeted footage of dark ash clouds blowing out from the volcano.
The eruption destroyed some of the island's banana crops, which provide half its economic growth on the island.

©Photo: GeologyHub

Clay pottery with table linens