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Weekly Globo Digest August 13, 2016

Posted by proeconomia in Uncategorized.
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Here is a small selection of short globalization stories during the past week:

  • The German state of Bavaria would sue Volkswagen for damages caused by its emissions-test cheating scandal. Bavaria’s state pension fund for civil servants lost as much as 700,000 euros  after VW shares plunged in the wake of the Sept. 18 revelation by U.S. regulators of the carmaker’s manipulation.  Bavarian Finance Minister Markus Soeder -a member of the CSU sister party of Chancellor Angela Merkel’s CDU- said: “We want this money back“!
  • Economics of olympic games. During the construction period in Rio 420.000 temporary jobs were created but in order to meet the financial needs, the city of Rio declared a state of emergency and the Brazilian state issued an emergency loan. But compered with previous Rio’s olympics have a low price tag:
    • Winter olympics in Sochi : $21,9 billion
    • Summer olympics in London : $15 billion
    • Summer olympics in Rio  : $4,9 billion
  • Great Britain’s new PM decided to delay the approval of the construction of a nuclear reactor at Hinkley Point C, a project with a cost of £18 billion funded entirely by France’s EDF and China General Nuclear Power Corporation (33%).
  • The end of a pioneer :Yahoo’s is to sell its core internet operations and land holdings to Verizon Communications for $4.8 billion. Marissa Mayer, Yahoo’s chief executive, is not expected to join Verizon, but she is due to receive a severance payout worth about $57 million. 
  • Daniel Barenboim, the Israeli-Argentinian maestro lead in 13 Augoust his West-Eastern Divan Orchestra  in an open-air concert in Berlin. He founded it in 1999 with the late Palestinian-American scholar Edward Said, as an experiment in co-existence and  comprising more than 100 musicians from Israel and Arab countries. This performance takes place in the Waldbühne amphitheatre, near Berlin’s Olympic stadium. Adolf Hitler and Joseph Goebbels had it built in the 1930s, the better to project their propaganda during the Olympic Games that Nazi Germany hosted exactly 80 years ago
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Weekly Globo Digest August 5, 2016

Posted by proeconomia in Uncategorized.
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Here is a small selection of short globalization stories during the past week:

  • Germany gained 1,5 billion euros just by lending to the world! It’s 10 year bond remains in negative area.
  • GlaxoSmithKline a pharmaceutical giant based in London, teamed up with Alphabet (Google’s parent company) to invest £540 m over seven years to treat disease through miniature implants that affect electrical signaling along nerves. Why is this news? Because it’s a manifestation of the Fourth Industrial Revolution (4IR) one of its characteristics being the fusion of  avant-guard technologies and their interaction across the physical, digital and biological domains.
  • 2-4 August took place the  World Islamic Economic Forum in Indonesia, the world’s most populous Muslim-majority nation. The main talking point was the Islamic finance, an industry which has grown rapidly since the early 2000s and is now reckoned to be worth about $2 trillion—comprising Islamic bank deposits and Islam-friendly sukuk bonds (an islamic financial certificate, similar to a bond in Western finance, that complies with Sharia – Islamic religious law) and takaful (islamic insurance).
  • 119.756 Bitcoins (a 0,75% of total Bitcoins in circulation) cryptocurrencies of a total worth of $72m were stolen from an exchange platform called Bitfinex based in Hong Kong. The maga-hack resulted in 23% plunge in Bitcoin price and Bitfinex suspended it’s operations. Bitcoin’s “mining” (a term used to define the creation of the cryptocurrency)  and circulation is based in blochchain technology, a very promesing and rather complicated  database that is considered to be ultra-secure.

Sources : The economist, FT, Investopedia

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