Media Navel Gaze: June 6, 2016
Float. Sting. GOAT. Bigger than life in and out of the ring and one of the most famous people in the world, Muhammad Ali, who died last week at 74, received the coverage and accolades worthy of a champ who “transcended boxing” (NYT cover Saturday). No surprise that FB and Twitter were long on great snaps (especially those of Ali with Prince and Michael Jackson), inspirational quotes and tributes, but what really stood out was how so many people had a real personal encounter with him, illustrating how much time he spent outside the ropes and on the streets. All made for great weekend reading.
- A Fed tightening move seems now to be on pause following a pretty dumpy jobs report with payrolls growing by just 38,000 works in May (the unemployment rate, however, did fall to 4.7 percent);
- The report hurt equity markets, leaving most unchanged for the week with the Dow closing Friday at 17,807;
- Speaker Paul Ryan did an about face and endorsed presumptive Trump;
- Tribune Publishing changed its name to tronc (yes, lower case) for Tribune online content as new owner Michael Ferro started making his mark on the company, a string of entrepreneurs who are entering the newspaper game;
- Paris remains seriously under water with even The Louvre packing up its artwork and moving masterpieces to higher floors;
- JP Morgan bringing in business casual, loosening its dress code with fashion tips on how to wear it better without a suit; and
- Nick Jonas and Kate Perry crooned at the Wal-Mart annual meeting, even though most retailers are singing many peppy tunes.
- Perú on Sunday will hold its second round of presidential elections, in which Keiko Fujimori (41 years old), the daughter of former president Alberto Fujimori, will face Pedro Pablo Kuczynski (77 years old), a former investment banker.
- Argentine President Mauricio Macri this week capped gas price increases following much political pressure. Macri was also briefly hospitalized on Friday with a case of arrhythmia.
- Citi this week recommended investors sell out of the Mexican peso and instead allocate to Dollars and Euros, citing a growing current account deficit for Latin America’s second largest economy.
- And in soccer, the Copa Centenario kicked off this weekend, celebrating 100 years of competitive national soccer in South America. For the first time ever, North and Central American teams were also included, though things did not start well for the hosts, as the US lost to Colombia 0x2.