Politics: Trump Organization Fined 1.6 Million Dollars for Tax Fraud
According to “CNBC,” the Trump Organization was fined 1.6 million dollars in a tax fraud scheme last month. The sentence, issued by the Manhattan District Attorney’s Offices, charged the highest fine allowed by the state. Both of the subsidiaries that were fined — the Trump Corporation and the Trump Payroll Corporation — denied any misconduct and plan to appeal their 17 counts of tax fraud, falsifying business records, and conspiracy. The Attorney General of New York, Letitia James, has filed a comprehensive civil lawsuit against them, seeking at least 250 million dollars in damages.
World: Protests in Peru Result in at Least 55 Deaths
Following the failed coup of Peru’s president Pedro Castillo, violent protests between his supporters and law enforcement have resulted in at least 55 deaths. According to “The New York Times,” after a year of struggling to manage the country, Castillo announced the dissolution of Congress, instead creating a government to rule by decree. This order was seen as an illegal power grab which promptly resulted in Castillo’s detainment. Protests and blockades have taken over about 40 percent of Peru, with reports of gunshots, glass-throwing, and tire-burning.
Climate: Ozone Layer Now On Track To Full Recovery by 2066
A recent study by the United Nations found that the ozone layer is on track to recover within the next 40 years. According to “Vox,” the Montreal Protocol of 1989, which banned 99 percent of chlorofluorocarbons, or CFCs, was thought of as the most effective environmental treaty ever implemented. If current restrictions remain in place, the ozone layer should return to its 1980s levels by 2040, the thinner Arctic ozone layer should recover by 2045, and the Antarctic ozone hole by 2066. Although the recovery is great news, World Meteorological Organization Secretary General Petteri Taalas emphasized the importance of continuing to transition away from fossil fuels and limit global temperature increases. Climate change is still progressing.
Covid-19: China Experiences New Waves After Lifting Restrictions
After unrest and mass-protest forced the Chinese government to end its nearly three year long zero-Covid policy, China experienced a large Covid-19 outbreak. According to “NBC,” the Chinese government reported that recent Covid-19 deaths had risen to 60,000, with the figure only including deaths in hospitals. An estimate by “Trinity,” an independent forecaster in London, placed the number more than ten times higher at 608,000. “NBC” reported on overcrowded hospitals in Shanghai after a strict two-month lockdown of the city. Crematoriums and funeral homes have had to allot ten-minute time slots to families due to the chaos.
Economy: United States Hits National Debt Ceiling
According to “CNN,” the United States of America hit the national debt ceiling last Thursday, forcing the Treasury Department to take measures to prevent the government from defaulting on its debt until at least June 5. With a cap of 31.4 trillion dollars, defaulting could result in crashes in the stock market, higher interest rates, and millions of jobs lost. As part of the debt insurance suspension period, the treasury will begin to sell existing investments and suspend reinvestments of the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund.
