Media Navel Gaze: September 26, 2016
As the US awaits the presidential debate Monday, or the “First Face Off,” as The New York Times called it, (amid gobs of coverage on tactics, issues, advertising and ratings), the week was pretty news heavy. So here we go.
- Yahoo announced a two-year old breach of some 500 million accounts, landing the company and its potential merger with Verizon in trouble;
- Twitter’s stock finally jumped but mostly in response to reports that the social-media platform is on the block (SalesForce?);
- FaceBook admitted and kinda apologized that it had been incorrectly measuring viewership (oops!) by not including those really short-lived visits that would skew the numbers;
- Charlotte remained on edge as everyone watched in disbelief the killing of Keith LaMont Scott by a police officer;
- The National Museum of African American History and Culture opened on The Mall in Washington;
- The Fed said it may finally raise rates sometime year end;
- Hedge fund big Cooperman and his firm were charged with insider trading;
- The Wells Fargo chief took the hot seat big time;
- Stocks moved a bit higher with the Dow up 0.8 percent for the week to end at 18,261;
- Slated turned 20;
- Brangelina became the new Brexit and the world went crazy (best “story” is the Norwegian airline ad that promoted cheap flights to LA because “Brad is single” and the Post cover of Jennifer smiling); and
- Skittles happened – in a very confusing and sad way.
- This week, U.S. Treasury Secretary Jack Lew will travel to Argentina, Brazil, Colombia and Mexico to meet with his counterparts and urge them to move forward with economic and fiscal reforms, in an effort to restore growth across the four largest Latam economies.
- Brazil: Coca-Cola Femsa, Latin America's largest Coke bottler, announced on Friday that it will buy Brazilian bottler Vonpar in a cash, stock and debt deal valued at $1.09 billion.
- Mexico: The Inter-American Commission on Human Rights is demanding an investigation into the brutal assaults of 11 women by police during protests in San Salvador Atenco, Mexico one decade ago. This demand is part of a multiyear examination into the 2006 abuses that took place during a crackdown ordered by President Enrique Peña Nieto, who was the governor of San Salvador Atenco at the time of the attacks.
- End of Week Market Updates:
- Merval (Argentina): + 3.88%
- Bovespa (Brazil): + 2.83%
- IPSA (Chile): + 1.13%
- IGBC (Colombia): - 0.39%
- IPC (Mexico): + 4.04%
- BVL (Perú): + 1.25%