why did the news of the world shut down
News of the World It was announced on 7 July 2011 that, after 168 years in print,[12] the newspaper would print its final edition on 10 July 2011 following revelations of the ongoing phone hacking scandal, with the loss of 200 jobs. The paper announced that all profits from the final edition – 74 pence out of the £1 cover price – would go to "good causes", and advertising space would be given to charities; the remaining 26 pence for each copy went to retailers selling the paper and to wholesalers.[22] Shutting the newspaper cost News Group Newspapers around £240m.[23]
Great Depression The Great Depression started in the United States after a major fall in stock prices that began around September 4, 1929, and became worldwide news with the stock market crash of October 29, 1929 (known as Black Tuesday). Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession.[4] Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II.[5]