Media Navel Gaze: November 16, 2015
"This is horror," told French President Francois Hollande to his countrymen on TV Friday night as he declared a state of emergency in the nation and closed its borders.Â The quote was repeated in coverage throughout the weekend but was one that seemed actually to underestimate the devastation, loss and threat from the attack in Paris, where 132 died and more than 300 injured. ISIS reportedly claimed responsibility for the seven terrorist attacks in Paris, which incidentally all occurred in places of fun, sport and entertainment and most of the victims young; News coverage understandably focused on little else, with stories ranging from the "message" to the losses, plan and security concerns, among others. Hard to gaze on other topics but elsewhere:
- Jihadi John was reportedly killed in a drone strike;
- Russian track and field athletes were suspended from international competition amid allegations of doping;
- The General Counsel of Al Jazeera America was found to have no license to practice law, making the news agency potentially exposed in lawsuits;
- The Dow suffered losses most of the week, along with other global markets, sliding 3.7 percent to close Friday at 17,245, ending its recent six-straight weeks of advances;
- Macy's reported a 5.2 percent drop in sales, spooking the market and retailers ahead of the holiday buying season; and
- Cheers! Anheuser-Busch InBev completes its acquisition of SABMiller.
- Mexico's Central Bank continues to debate how to react to the Fed's potential rate increase while the latest report of the country's GDP by Mexico's statistics agency reported 2.5% growth through the year;
- Volatility in the Mexican peso continues as it appreciates to 16.7 pesos per dollar;
- Rumors persist in Brazil that President Roussef has agreed to remove Finance Minister Levy from his position;
- Chile's central bank held its key interest rate steady at 3.25% on Thursday, although a potential rate hike is likely in the next few months to tamp down high inflation.