Today’s business news – in the UK and beyond amid concerns about the world’s largest economy and the fall in the Asian, US and UK markets.
What’s going on?
A powerful 7.7-magnitude earthquake struck Indonesia, resulting in at least 38 confirmed fatalities. The quake prompted authorities to issue a tsunami warning across the region. Emergency services are responding to the damage and assessing remaining risks.
The New York Times reports, “At Least 38 Dead as 7.7-Magnitude Earthquake Rocks Indonesia,” focusing on the casualty toll. In contrast, Yahoo headlines, “7.7-Magnitude Earthquake Leaves At Least 38 Dead and 13 Injured in Indonesia,” emphasising both fatalities and injuries. This difference highlights the severity versus the broader impact of the disaster.
Coverage analysed: The New York Times | Yahoo
Bangladesh closed Day Three of the first Test against Australia on 161-4, leading by 67 runs. Spinner Mehidy Hasan Miraz dismissed Steve Smith, while Hasan Mahmud took two early wickets. Cameron Green (43) and Alex Carey (19) remained at the crease as Bangladesh aimed for a historic win.
The Saskatoon Berries secured a spot in the WCBL championship series for the first time in three years, defeating the Sylvan Lake Gulls. This achievement marks a significant milestone for the team in the league.
Major stock markets experienced mixed trading on Friday, with oil prices rising and the dollar weakening. Investors remain focused on U.S. interest rate forecasts and the ongoing conflict in the Middle East. The Kospi index, having rebounded over 20% from a significant drop, reflects this volatility.
The Red Arrows have withdrawn from the Eastbourne International Airshow due to adverse weather conditions in Canada, which disrupted their travel plans. The team will attempt to resume displays with upcoming events, including the Cromer Festival on August 19 and the Clacton Air Show on August 27-28.