The world is now using so much fresh water amid the consequences of climate change that it has entered an era of water bankruptcy, with many regions no longer able to bounce back from frequent water shortages. About 4 billion people – nearly half the global population – live with severe water scarcity for at…
The world has moved beyond a water crisis and into a state of global water bankruptcy, says a new flagship report released on Tuesday by UN researchers. For decades, scientists, policymakers and the media warned of a “global water crisis,” implying temporary shock – followed by recovery. What is now emerging in many regions, however,…
Amid alarming global water shortages, a UN report declares a new era of ‘water bankruptcy’, emphasising the need for urgent action and redefined policies to address irreversible losses. United Nations water experts are calling for the formal recognition of a new era of global water “bankruptcy”, arguing that terms such as water “stress” or “crisis”…
The company that owns the iconic luxury retailer Saks Fifth Avenue filed for bankruptcy late Tuesday. The move comes after Saks Global struggled with debt it took on to buy rival Neiman Marcus, lagging department store sales and a rising online market. It’s one of the largest retail collapses since the Covid-19 pandemic, and casts…
The United Nations faces a “race to bankruptcy” unless Member States pay their dues in full and on time, Secretary-General António Guterres warned on Friday, presenting a sharply reduced $3.238 billion regular budget for 2026. The revised proposal marks a significant drop from his original ask for next year of $3.715 billion and is 15.1…
