Here are 5 things that people are talking about this week:
The PMC Bank disaster: The Punjab and Maharashtra Cooperative Bank is in a lot of trouble, as it was found out that the management had allowed loans of thousands of crores to one client, HDIL. This loan amounted to more than 70% of what the bank had! HDIL has been unable to repay the loans, so the bank cannot recover its money. The people who have deposited their money at PMC Bank are not able to withdraw their savings! Click here to read more about this.
Eliud Kipchoge from Kenya has become the first human to ever run the marathon (42 km) in less than 2 hours! Click here to read about how he accomplished this and why it is important.
The US has called its soldiers home from Syria. The troops were there along with fighters of an ethnic group called the Kurds, battling against the militant organization ISIS. The absence of US troops in the area has created havoc in the area. It has given Turkey the opportunity to attack some parts of northern Syria that the Kurds have taken over. Click here to read about how the Syrian war started, who the main players are, and what this new news means.
Fast fashion store Forever 21 has filed for bankruptcy and has decided to close a number of its stores in the US, Europe and Asia. It is keeping its stores in Mexico and Latin America open. More young people like yourselves are looking for sustainable fashion, for clothes that last and are made out of materials and with techniques that are less harmful to the environment. Forever 21 has not been able to provide you with that. In addition, they have faced stiff competition from online sellers. All this has translated into lower sales for them. They are not going out of business, just restructuring. Click here to read more about this.
American gymnast Simone Biles is redefining gymnastics. She has multiple moves named after her that require an incredible amount of skill and mastery to perform gymnastically. She put on a record-breaking show at the gymnastics world championships. After winning her 24th and 25th medals she set the record for most world medals won by any gymnast, male or female.