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The World in Brief from The Economist

Niger closes its airspace; American trucking company collapses, and more

The World in Brief from The Economist

The Economist

Daily News, Global News, News, News & Politics

4.11.2K Ratings

🗓️ 8 August 2023

⏱️ 5 minutes

🧾️ Download transcript

Summary

The Economic Community of West African States, a regional bloc, said that it would hold a summit in Abuja, Nigeria’s capital, on Thursday, to discuss the coup in Niger.

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Transcript

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0:00.0

Hello, you're listening to the free edition of the World in Brief from the Economist.

0:05.0

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0:14.0

If you're already an Economist subscriber, visit economist.com slash espresso or visit our espresso app to start listening.

0:22.0

Here's today's free edition.

0:25.0

This is the World in Brief from the Economist.

0:37.0

Our top stories.

0:39.0

The economic community of West African States, a regional blog, said that it would hold a summit in Abuja, Nigeria's capital on Thursday to discuss the coup in Niger.

0:52.0

Earlier, Niger's ruling junta shut the country's airspace and warned of an attack by a foreign power.

0:59.0

Echo was, had threatened military intervention, should Niger's coup leaders fail to allow President Mohamed Basoum to return office by Sunday, but the deadline passed without incident.

1:11.0

Marley and Burkino Faso, both of which are ruled by their armies, will send a joint delegation to Niger to express solidarity with its new leaders.

1:22.0

Yellow, an American trucking company, filed for bankruptcy, and said it would sell all or substantially all of its assets.

1:31.0

By the end of March, the 99-year-old firms, outstanding debt, topped $1 billion.

1:37.0

Darren Hawkins, the company's boss, said that yellow intends to pay back, in full, the $700 million pandemic relief loan it received from the federal government in 2020.

1:49.0

The company's closure will affect 30,000 employees.

1:54.0

Voters in the Central African Republic, backed constitutional changes, scrapping a limit of presidential terms, according to the country's electoral authority.

2:04.0

If ratified, the proposed new law would enable the country's president, Fosten Akhash Tudera, who hosts the mercenary Wagner Group, to seek re-election in 2025.

2:17.0

Critics said that turnout in the referendum might have been as low as 10%.

2:24.0

Paramount will sell Simon and Schuster, a book publisher, to KKR, a private equity firm, for $1.6 billion.

2:33.0

The all cash deal ended Paramount's three years search for a buyer.

2:37.0

In November Paramount terminated a $2.2 billion agreement to sell Simon and Schuster to Penguin Random House, another publishing house, after America's Justice Department sued to block the merger.

2:52.0

Simon's energy reported a net loss of 2.9 billion euros or $3.2 billion for its third quarter and predicted it will lose a total of 4.5 billion euros this year.

3:05.0

The firm said that the poor third quarter results were in part due to rising costs in its wind turbine division.

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