News Summary: April 11-15

News for the Week April 11 – April 15, 2016

by David Abuaf, CFA

Investment Manager, RJFS

 

 

Government / Political / Economic

1.     Ukraine’s premier said he would resign, clearing the way for the formation of a new government. I wonder if Russia will look to make the new government more Russian friendly?

2.     A North Korean colonel defected to South Korea last year

3.     Hungary’s government lifted a ban on Sunday shopping as it seeks to win a vote barring migrants

4.     A US Navy officer was charged with spying for allegedly passing secrets to foreign governments

5.     The US and India agreed to let their militaries use each other’s’ bases for replenishment and repair

6.     CDC said there is enough evidence to conclude that the Zika virus can cause birth defects

7.     The Interior Department finalized offshore drilling rules aimed at preventing explosions and oil spills

8.     Canada took a major step toward making it easier for the terminally ill to ask for and receive medical assistance in ending their lives

9.     EU lawmakers approved legislation requiring airlines to share passenger data, in a bid to block terrorists

 

General Markets / Economic

1.     More online lenders are scaling back their consumer marketing operations as investor interest in the debt diminishes

2.     Railroads are expected to stem their declines as some cargo groups bounce back and the economic outlook improves

3.     The European Union will propose rules forcing large multinationals to publish profit and tax bills from countries in which they operate

4.     China’s economic growth slowed further, though policies aimed at bolstering it appeared to gain traction. They are now growing at 6.7%

5.     Two top senators circulated a proposal that would require firms to unlock encrypted technology when served with a court order

6.     OPEC said global oil production outside the cartel is falling more sharply than expected

7.     US regulators are set to reject so-called living wills of at least half of the systemically important US banks

8.     Consumer prices edged up 0.1% in March

 

 Company News

 1.     Britain’s Daily Mail is in talks to bid for Yahoo

2.     Silly politician, economics is for adults. After Bernie Sanders said GE is “destroying the moral fabric” of America, Jeffrey Immelt responded “we create wealth and jobs, instead of just calling for them in speeches”

3.     Boeing opened talks to sell planes to Iran

4.     Canadian Pacific dropped their nearly $30B planned merger with Norfolk Southern

 

Interesting Stories

1.     Are you a (facial) hairy guy? Want an awesome job? Gillette has hired 12 cutting edge razor testers that help them to rate attributes from tugging to blade feel. These men have completed 6 whole months of training

2.     NASA is actually working on growing potatoes in Mars. Research is being performed at the International Potato Center in Peru to determine which type of spud could be best suited for ET farming

3.     A brain implant allowed a paralyzed man to use his thoughts to move his arm

4.     Last week Sweden became the first country in the world to get its very own telephone number, manned by Swedish volunteers

5.     A New Zealand aquarium announced this week that back in January an octopus escaped from his tank and squeezed through a six-inch drain to the Pacific Ocean and…FREEEEEDOOOOOMMMMM!

6.     The Czech foreign ministry said that the two-word Czech Republic was often too ungainly. They changed their name to Czechia