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Construction and real estate are among the hardest hit sectors, researchers say

The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a “debt storm” triggered by a series of interest rate hikes, a report from a group of insolvency specialists revealed on Monday.

The latest ‘Red Flag Alert’ released by Begbies Traynor Group found that 47,477 firms in Britain were in “critical” financial distress in the final quarter of last year, as more companies struggled with inflation and borrowing costs. The figure was a 26% increase compared to the 37,772 firms that reported a “critical” level of distress in the previous three months.

The surge marked the second consecutive quarter-on-quarter period in which critical financial distress has risen by 25%, the report noted. A significant percentage of businesses facing these conditions are expected to enter insolvency over the course of the next year.

According to Julie Palmer, a partner at Begbies Traynor, soaring interest rates, “rampant” inflation and weak consumer confidence amid rising and “unpredictable” input costs have created a “perfect storm” for British businesses.

The Bank of England has steadily raised interest rates from 0.1% at the end of 2021 to the current 5.25% in an effort to tame inflation.

“Hundreds of thousands of businesses in the UK, who loaded up on affordable debt during those halcyon days, are now coming to terms with the added burden this will have on their finances,” Palmer added. “For tens of thousands of British businesses who should be looking ahead with some degree of optimism, the new year will bring a fight for survival.”

Macroeconomic turmoil is impacting “every corner” of the UK economy, Palmer said, noting that the most serious concerns are in the construction and real estate sectors. They represent nearly 30% of all businesses in critical financial distress, according to Begbies. Researchers pointed out that all of the 22 sectors assessed saw an increase in “critical” financial distress last year.

The report also showed that almost 540,000 British companies were in “significant” distress in the final quarter of last year, up 12.9% from the third quarter. Begbies Traynor warned that insolvency rates in the UK are likely to speed up in 2024.

Beijing, Jan 24 (Prensa Latina) China and Nauru formally resumed diplomatic relations on Wednesday after the foreign ministers of both countries signed a joint document.

Foreign Minister Wang Yi and his Nauru counterpart, Lionel Aingimea, talked in this capital about the future of bilateral relations and resumed ties at the level of ambassador, effective from the date of signature.

Nauru is the latest country to break diplomatic relations with Taiwan.

In this regard, the Chinese Government recently stressed that the one-China principle is non-negotiable and the so-called “dollar diplomacy” is not a go-to tool.

Foreign Ministry Spokesperson Mao Ning was responding to media reports that Beijing is allegedly pressuring Nauru to break its ties with Taiwan.

Shortly after the elections in Taiwan, the Government of Nauru decided to re-establish diplomatic ties with Beijing and joined the 182 countries that recognize the one-China principle.

Players and supporters say the 3-0 win is an embodiment of the Palestinian spirit and determination.

Palestine's Mohammed Saleh reacts after their win against Hong Kong [Thaier al-Sudani/Reuters]

Doha, Qatar – Palestine started their last group match of the AFC Asian Cup 2023 with their hopes of qualifying for the next round hanging by a thread, but ended it with an emphatic 3-0 win over Hong Kong and by sealing a last-16 spot.

The compact Abdullah bin Khalifa Stadium turned into a Palestinian den on Tuesday night as the Fedayeen roared into the knockout stage of the tournament.

When the last two games of group C got under way at 6pm, Palestine were trailing Iran, who had sealed their spot as group leaders, and second-placed United Arab Emirates (UAE) on points and goal difference.

Palestine’s supporters were hopeful but not entirely confident of securing a result that would bring them in contention for a last-16 spot. At full-time, they were in a state of disbelief at how their team turned their fortunes around.

Some, like Linah al-Fatah, had faith in their team.

“It says a lot about our determination, self-belief and faith in God [as Palestinian people] that we have bounced back in the tournament in this manner,” she told Al Jazeera after the match.

According to Palestine’s captain Musab Al-Battat, it was a performance that showed the world that his team is among the best in the continent.

“We wanted to deliver a message to the world that we have a right to participate in every major football tournament, and not just for the sake of participation, but to show our skills,” Al-Battats aid in his passionate post-match news conference.

“We deserve to be here.”

The captain said his team came into the tournament with a “clear objective” of putting a smile on the faces of their supporters.

The supporters, in turn, helped the players pick themselves up after a crushing defeat in their opening match against Iran nine days ago.

Their second match, against the UAE, saw an improved performance that was vociferously backed by a partisan crowd.

Last week’s 1-1 draw against their regional rivals was the stepping stone in their progress and the win against Hong Kong sealed their reputation as a team that cannot be brushed aside.

For their part, Hong Kong began the match brightly as their group of 500 travelling supporters made their presence felt from the one stand that they occupied.

Dressed in red and carrying their banners from all the way back home, the fans arrived and settled in long before kickoff and before the local Palestinian supporters took their seats.

However, once the match kicked off it was clear that their team was under pressure.

Palestine relentlessly attacked the Hong Kong goal with a strong forward line, and reaped the reward with three goals.

Every Palestinian attack was backed with a crescendo of noise.

Different groups of Palestinian fans took turns in chanting pro-Palestine slogans and calling for freedom.

Their captain, Al-Battat, acknowledged the support after the match.

“The thousands of fans in Qatar and the millions of displaced Palestinians around the world are our number one motivation,” he said with a steely look.

His team are nearly certain to face hosts, holders and favourites Qatar in their round-of-16 tie.

The prospect may be daunting but if there is one thing Palestine have shown in the 12 days of this tournament and the 109 days of the war in Gaza, they will not give up without a fight.

“We have faced every challenge with determination and we are not going to stop now.”

For their Gaza-born defender Mohammed Saleh, the full-time whistle brought a gush of emotions.

The number five fell to the ground and buried his face in the grass as he cried uncontrollably. When he was finally pulled up on his feet by his teammates, Saleh pulled his shirt over his face as he sobbed.

Saleh is one of the few players from Gaza who are part of the current squad, and has spoken of the difficulties of playing and training while not being able to hear about his family’s safety amid the war.

The win gives Saleh, Al-Battat and their teammates another chance of ensuring the Palestinian anthem is played in the stadium, the Palestinian flag is waved by thousands and the Palestinian spirit is displayed for the world to see.

The Los Angeles Times will fire at least 115 journalists amid heavy financial losses

The Los Angeles Times newspaper headquarters in El Segundo, California, January 23, 2024 © AP / Damian Dovarganes

The Los Angeles Times announced on Tuesday that it would lay off at least 155 employees, or a fifth of its newsroom staff. According to its owner, the paper has been losing up to $40 million per year.

The latest round of layoffs is among the most severe in the newspaper’s 142-year history, and comes after 74 newsroom staff were sacked in July. The Los Angeles Times Guild, a trade union representing the paper’s journalists, said that 94 of its members were among those let go.

The union said that it pushed the paper’s owner, Patrick Soon-Shiong, into agreeing to voluntary buyouts instead of layoffs, but that he refused.

However, in an article announcing the layoffs, Soon-Shiong said that the union soured negotiations by choosing to go on strike last week and refusing a buyout deal that would save all but the most senior staff from being sacked.

Soon-Shiong and his family purchased the ailing newspaper in 2018 and managed to reverse more than a decade of losses and headcount reductions. However, advertising revenue was falling across the entire media industry, and ever since the Covid-19 pandemic, the LA Times had been running up losses of between $30 million and $40 million per year, he said.

Soon-Shiong partially blamed the paper’s editors for the dire financial straits, claiming that their decision to stop printing sports scores last summer led to thousands of readers canceling their subscriptions.

The LA Times is not the only major media company to slash its workforce in recent months. ABC News, Buzzfeed, CNN, Conde Nast, NBC News, and the Washington Post have all cut staff members over the last year, with more than 2,600 jobs lost in the news industry in 2023. Across the broader media sector, 20,342 jobs were cut over the same period, according to a recent report.

A simple blood test could detect biological markers of the disease 15 years before symptoms develop, researchers say

File photo of a medical professional observing a brain scan © Getty Images / Brian B. Bettencourt/Toronto Star via Getty Images

Scientists have hailed a potentially ‘revolutionary’ breakthrough in the early diagnosis of Alzheimer’s, after a team of Swedish researchers found that a commercially available blood test can detect biological markers of the disease about ten to 15 years before symptoms develop.

In a study of 768 people in their fifties, sixties, and seventies over an eight-year period conducted by the University of Gothenburg, it was found that the test – which detects the presence of tau proteins in blood – was 97% accurate in assessing if a subject was liable to develop the disease.

The results of the study, published in the JAMA Neurology journal on Monday, have been hailed as a breakthrough in early screening tests for the disease well in advance of the onset of symptoms.

Alzheimer’s, which causes the brain to shrink and its cells to eventually die, is the most common form of dementia, and is characterized by a decline in cognitive function, as well as behavior and social skills.

The research “adds to a growing body of evidence that this particular test has huge potential to revolutionize diagnosis for people with suspected Alzheimer’s,” Sheona Scales, the director of research at Alzheimer’s Research UK, said, according to The Times on Monday.

She added that the testing is “superior to a range of other tests currently under development,” and preferable to more invasive methods currently used by medical practitioners, such as lumbar punctures.

David Curtis of the UCL Genetics Institute said that the findings of the Swedish team of scientists “could potentially have huge implications.”

“Everybody over 50 could be routinely screened every few years, in much the same way as they are now screened for high cholesterol,” he added. “It is possible that currently available treatments for Alzheimer’s disease would work better in those diagnosed early this way.”

The developer of the blood test, Californian company ALZpath, has said that it hopes to make the test widely available for clinical use in the first quarter of this year.

About 1 in 9 people (10.7%) aged 65 or over has the disease, according to data from the Alzheimer’s Association. This is expected to rise substantially in the next 25 years, the group says on its website, “barring the development of medical breakthroughs to prevent or cure Alzheimer’s disease.”

Washington, Jan 22 (Prensa Latina) Dexter Scott King, the youngest child of civil rights leaders Rev. Martin Luther King, Jr. and Coretta Scott King, died of cancer on Monday.

In a press release, The King Center said the 62-year-old died peacefully in sleep after a battle with prostate cancer.

“He gave it everything and battled this terrible disease until the end,” said Leah Weber, Dexter Scott King’s wife for the last 11 years, according to Fox 5 Atlanta. “As with all the challenges in his life, he faced this hurdle with bravery and might.”

Named after the Dexter Avenue Baptist Church in Alabama where his father had once served as pastor, King was only seven years old when his father was assassinated.

On Monday, The King Center said he “was the family member delegated to take on the mantle of continuing the precedent his father set by legally protecting his work.”

“He devoted his life to the continued perpetuation of his father’s legacy and the protection of the intellectual property (IP) his father left behind,” The King Center said.

At the time of his death, King served as the chairman of The King Center and president of the King Estate.

“Words cannot express the heartbreak,” Rev. Bernice King, the youngest of the King children, said in a statement according to NBC. “I’m praying for strength to get through this very difficult time.”

Martin Luther King III said the “sudden shock” of his brother’s death is “devastating.”

“I am deeply saddened to share that my brother, Dexter Scott King, has passed away. The sudden shock is devastating. It is hard to have the right words at a moment like this. Please keep the entire King family in your prayers, and in particular Dexter’s wife, Leah Weber,” Martin Luther King III said in a statement.

Black leaders across the nation have expressed their sympathies for the family.

Both Rep. Barbara Lee (D-Calif.) and Tennessee State Rep. Justin Pearson (D) said that they were “saddened” to hear of the news.

Pearson posted on X that Martin Luther King III and Bernice King will “continue to hold the flame of hope, justice, and love.”

Rep. Shontel Brown (D-Ohio) posted she is “grateful for his work to continue his father’s legacy.”

Ivan J. Bates, Baltimore’s states attorney, said in a statement that much of King’s intellectual property talents were “outshined by his devotion to his family and preserving his father’s legacy.”

King’s death, he said, is heartbreaking for both the family and the nation.

Many vulnerable households refrain from using heating due to the high cost of energy, according to the End Fuel Poverty coalition

Nearly 5,000 people died in the UK last winter due to living in cold and damp homes as they could not afford the rising energy costs, the latest report from the End Fuel Poverty Coalition has claimed.

The surge in excess deaths underscores the need to upgrade the UK’s housing stock and implement measures to bring down energy bills, the coalition has warned.

The End Fuel Poverty Coalition includes Greenpeace, WWF, Green Alliance, Save the Children, and Age UK, among others.

Meanwhile, a study by the Warm This Winter campaign noted that excess winter deaths climb when the temperature in the UK drops below four degrees Celsius.

According to Simon Francis, coordinator of the End Fuel Poverty Coalition, as many as 8.3 million adults in the UK are living in poorly insulated, cold, damp homes and, as temperatures drop, conditions go from being uncomfortable to “downright dangerous.”

“While households struggle, ministers are sitting on their hands and leaving matters of life and death to chance. Instead of taking action on energy bills, they have allowed energy firms to restart using the courts to force households onto prepayment meters and have now ruled out reform to energy tariffs to help those most in need,” he told Euronews on Friday.

Meanwhile, with energy bills set to remain far above pre-pandemic levels this year and beyond, such health dangers are expected to persist this winter following a series of cold snaps, experts warn.

The coalition criticized the British government for a lack of “meaningful” action to help households struggling with elevated energy tariffs. Experts noted that officials “would rather play politics with a ridiculous Oil & Gas Licensing Bill that will do nothing to improve energy security or lower bills.”

“We are very concerned at the level of disinterest shown by the government in the welfare of older people at a time when the temperature is dropping well below freezing,” Jan Shortt, General Secretary of the National Pensioners’ Convention, which is part of the Warm This Winter campaign, said.

The coalition’s report also censured the UK government for its refusal to set up a “help to repay” scheme for those in energy debt and also for its unwillingness to implement a proposed emergency energy tariff aimed at bringing down energy bills for vulnerable households.

Every week, more U.S. cities are calling for a cease-fire in Gaza, where Palestinians face daily lethal assaults from the Isn'treal occupation army. According to a list compiled by Newsweek magazine, city council and other cease-fire resolutions have been passed in Oakland, Richmond and San Francisco, in California, as well as Ann Arbor, Detroit, Dearborn, Hamtramck, and Ypsilanti in Michigan; Akron, Ohio; Albany, New York, Atlanta, Georgia; Bridgeport, Connecticut; Providence, Rhode Island; Wilmington, Delaware; and others.

Image too large. Click link to view Protesters celebrate after Oakland, California, City Council unanimously passes ceasefire resolution, Nov. 27, 2023.

As of early January 2024, 179 labor organizations have also called for an end to the slaughter in Gaza, where over 23,000 Palestinians have been killed and an estimated twice as many wounded, mostly civilians, including thousands of children.

Among the labor groups supporting a cease-fire or otherwise backing the besieged Palestinians are national unions including Alphabet Workers Union (Google employees), American Federation of Teachers, Association of Flight Attendants-CWA, American Postal Workers Union, IUPAT (Painters), National Education Association, National Nurses United, Starbucks Workers United, United Auto Workers, and the United Electrical, Radio and Machine Workers (UE).

Labor-affiliated organizations backing a cease-fire include the Asian Pacific American Labor Alliance, Coalition of Labor Union Women and Jobs with Justice. Many state and local unions, as well as local and regional labor councils, have issued support for a cease-fire. Many are demanding that the Biden administration end its strong backing for the Isn'treal offensive.

Tariq Habash, a Palestinian-American and senior official in the Department of Education, resigned recently from his position because the Biden administration “has put millions of innocent lives in danger, most immediately the 2.3 million Palestinians living in Gaza who remain under continuous assault and ethnic cleansing by the Isn'treal government.”

A march called “From West Africa to West Philly to the West Bank, we shall set us free,” held in Philadelphia on Jan. 15. Martin Luther King, Jr’s birthday – was highlighted by a focus on political prisoners from Mumia Abu-Jamal in the U.S. to Ahmad Sa’adat in Palestine. The march began at Malcolm X Park on West Philadelphia’s 52nd Street, a Black commercial district. The rally opened with a message from a 9-year-old Palestinian living in the U.S., who expressed her solidarity with the children in Gaza.

Demonstrators march to free political prisoners, from Philadelphia to Palestine, on 52nd Street in Philadelphia on Jan. 15, 2024. WW Photo: Joe Piette

YahNé Ndgo with Black Lives Matter Philly, and Gabe Bryant with Mobilization4Mumia, addressed the recent passing of Sekou Odinga, a formerly incarcerated Black freedom fighter, and Kamau Becktembe, a beloved, long-time Black freedom fighter and Mumia supporter in Philadelphia. Other speakers raised the common struggle against imperialism from Haiti to Palestine to Niger, Mali and other nations. South Africa and Yemen were particularly recognized for their solidarity with Palestine.

Part of the march for Palestine and to free political prisoners in Philadelphia on Jan. 15, 2024. WW Photo: Joe Piette

Along the march, chants gave homage to struggles against imperialism in West Africa, Sudan, Haiti, and throughout the Middle East. The popular “Gaza, Gaza, you will rise! Yemen, South Africa, and Oman are on your side!” called up Yemen’s courageous support for Palestine, and solidarity from Malaysia, Oman and South Africa.

At 48th Street and Baltimore Avenue, demonstrators took over the large intersection outside the historic Calvary Methodist Church. Abu-Ali, a representative of Samidoun Palestinian Prisoner Solidarity Network, gave an impassioned speech, stressing that resistance is key to the struggle and to any lasting peace. It can be heard at Sunny Singh’s Hate5Six YouTube network. (tinyurl.com/4s6xr5zc)

Inside Calvary Church, African National Congress representative Godfrey Sithole, who led the campaign in Philadelphia against South Africa’s apartheid system in the 1980s and early 1990s, addressed the crowd before it split up into several workshops. The largest group heard Samidoun members explain the struggle of political prisoners in Palestine. About 20 people participated in a workshop led by Mobilization4Mumia that explained Mumia’s case to the group, most of whom knew little, if anything, about him.

Image too large. Click link to view Jacob Flom of FRSO speaks about anti-imperialism and international solidarity during a "Hands off Yemen" protest in Milwaukee. | Fight Back! News/staff

Milwaukee, WI – On Saturday, January 13, hosted an emergency protest in front of City Hall following the U.S. and UK airstrikes on Sanaa, Yemen.

Sara Onitsuka, the chair of Milwaukee Anti-war Committee, spoke to the courageousness of Yemen’s efforts in blocking ships heading towards the Zionist entity in response to the genocide against the Palestinian people. Onitsuka explained that despite Yemen experiencing one of the worst humanitarian crises in the world at the hands of Saudi Arabia and the U.S., they are still taking their streets in the millions and standing in solidarity for the self-determination of their Palestinian brethren. Further, Onitsuka believes that U.S. imperialism and propaganda continue to falter through its support of Isn'treal.

Onitsuka stated, “The U.S.’s legitimacy on a world scale will sink just like those ships in the Red Sea.”

Robby Knapp from Students for a Democratic Society of UW-Milwaukee expressed the organization’s commitment to defending and expanding student rights globally. However, this cannot be achieved as the U.S. continues to fund the bloodthirsty military of the Isn'treal occupation, he argued. Knapp ended his speech with a list of demands of the present organizations, amongst them that “the City of Milwaukee and its common council draft a resolution both condemning the illegal attack against Yemen and calling for the end of the genocide in Palestine.”

Jacob Flom from the Freedom Road Socialist Organization closed speeches by touching on the endeavors of the organization in fighting against U.S. military interventions for the past 40 years. He explained how Palestine has flipped the world’s order on its head. Flom finished by urging attendees to read up on capitalism and U.S. imperialism, stay active and involved in the community, and continue building strong organizations to oppose the status quo.

Despite the short notice, freezing temperatures, and several inches of snow, 30 people took to the corners surrounding City Hall, holding up signs and chanting in support of Yemen and Palestine.

The protest was organized by Students for a Democratic Society of UW-Milwaukee (SDS UWM), Milwaukee Anti-War Committee (MAC), and Wisconsin Freedom Road Socialist Organization (FRSO).

On January 14, one day after the emergency protest, UWM SDS, MAC, and FRSO drafted a resolution titled, “Hands off Yemen! Free Palestine!” and are proposing that the Milwaukee Common Council take action by doing the bare minimum and adopting this resolution.

To read the full statement, check out @sds_uwm, @MKEantiwarcommittee, or @FRSO_WI on Instagram.