Current Events This Week

Cornell Related

  • Joe Biden to speak at Cornell Class of 2017 Graduation.
  •  John Novarr, Developer of Collegetown Terrace plans new apartments on Linden Avenue. Novarr hopes to target MBA students since the Breazzano Center for Executive Education, once finished, will be located next to the new housing.

Markets

  • S&P 500 was down 1.1% this week amidst worries of geopolitical issues.
  • Bonds and gold both fared well in the previous week as investors sought safer investments.
  • United Airlines has lost $570M in market cap this week after passenger was dragged off a United aircraft.

 International

  • Former Odebrecht SA, Latin America’s largest construction company, executive is tying Brazilian president Michel Temer to $40Mbribery scandal.
  • Russia, Syria, and Iran have unified on a common front in support of Syrian president Bashar al-Assad, stating that US accusations of a chemical strike by the Syrian government in Damascus are false.

 Tech

  • Uber has run into regulatory problems in both Denmark and Italy as the two nations’ governments try to oust the ride hailing company from the roads. On the bright side, Uber is resuming service in Taiwan after a 2 month hiatus.
  • Tesla has now surpassed both G.M. and Ford in market value coming in at a cool $50.9B.

Politics

  • Former Alabama Governor Robert Bentley was forced to resign after he plead guilty to using state funded resources to try to cover up his extramarital affair. Lieutenant Governor Kay Ivey was sworn in as the new governor following his step down.
  • President Trump has threatened to withhold critical subsidies for Obamacare if Democrats do not agree to negotiate a new deal.