January 5, 2017

Top News Stories –

Crash was economists’ ‘Michael Fish’ moment, says Andy Haldane –
The failure to predict the financial crisis was a “Michael Fish” moment for economists, the Bank of England’s chief economist has said. Andy Haldane compared financial forecasts to the famously inaccurate forecast by the BBC weatherman, ahead of the UK’s great storm of 1987. He said the profession was “to some degree in crisis” following the 2008-09 crash and the Brexit vote. The Bank denies claims it gave gloomy forecasts to support the Remain side. [BBC]
Andy_HaldaneAndy Haldane

Other News Stories –

Armed conflicts and attacks
Business and economy
  • Following a start-of-year hike to the price of gas, widespread riots and looting mostly targeting gas stations, supermarkets and department stores take place in several cities in Mexico. Over 250 people are said to have been arrested so far while blockades to PEMEX installations potentially lead to critical situations in some states. (Reuters)
  • Sears Holdings announces that 108 Kmart and 42 Sears stores will close in the United States in 2017, affecting retailers in 40 states. The company also announced it is selling its trademark Craftsman tool brand to Stanley Black & Decker for $900 million. (USA Today), (Bloomberg)
Politics and elections
Science and technology
Sports

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