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BUSINESS NEWS APRIL 30TH, 2016


MASSIVE OIL THEFT BY PIRATES COSTS

Depressed oil prices, rampant corruption, and pipeline vandalism are only parts of Nigeria’s oil problem. It’s now losing a massive 400,000 barrels of crude daily to pirates in the Gulf of Guinea, an amount equal to the entire daily export capacity of its Forcados terminal.Overall damage from piracy, theft and fraud for Africa’s largest oil exporter is estimated at some $1.5 billion a month, according to U.S. deputy ambassador to the UN, Michele Sison, citing a Chatham House report.

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HOW TOM WHEELER MADE CABLE KING

Many people are hazy on how the Internet came to be.The Internet exists because dozens of companies decided to get into the Internet business. They built some pipe and recruited some customers and then looked around for somebody to connect with who was already connected to the Internet.All logical possibilities were allowed: I pay you, you pay me, we interconnect for free. The deal that actually happened depended on whose interests were most served by the interconnection.Well, so much for the good old days. This freewheeling, wide-open market now is being superseded for three reasons: the one-way video deluge, federal regulation, and because it doesn’t suit Netflix.

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THE FED WILL NOT INCREASE RATES

Among the various factors that play an important role in the policymaker's decision to increase interest rates, the dollar and its impact on exports is a key consideration. This article underscores the importance of dollar movement on export-driven growth and the key factors that will prevent the Fed from increasing interest rates if the dollar remains relatively strong.Using charts is the best way to explain any point in finance and economics, and the chart below (from 1995 to 1Q 2016) gives the trade weighted US dollar index plotted with US exports as a percentage of GDP.

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AGUSTAWESTLAND DEAL: CHOPPER SCAM

The Narendra Modi government on Friday said it was determined to bring those guilty in the AgustaWestland chopper deal bribery case to justice and denied NSA Ajit Doval or PM's key aide Nripendra Mishra were any way involved.In a second statement in two days, the government said it will not leave any stone unturned in finding the truth."The investigative agencies remain determined to bring to justice the key perpetrators of this misdeed, both inside and outside the country," said the statement by the information and broadcasting ministry, adding that all means are being pursued to arrest alleged middleman James Christian Michael. The first statement had been issued by the defence ministry.

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