| 'A black swan' is an unpredictable event that is beyond what is normally expected of a situation and has potentially severe consequences. Black swan events are characterised by their extreme rarity, severe impact, and the widespread insistence they were obvious in hindsight.  | A massive 7.1 magnitude earthquake has hit the Philippines, shattering windows of buildings at the epicentre and shaking high-rise towers more than 300 kilometres away in the capital Manila. The earthquake struck the mountainous province of Abra on the main island of Luzon at a depth of 40 km, at 8.43am local time the European Mediterranean Seismological Centre said on Wednesday 27/7. |
