January 25, 2106

Top News Stories –

Irish potato picture sells for £750,000 –
Yearning for starchy carbohydrates after a few drinks is nothing new – but a businessman has taken it to a new level. After a few glasses of wine, he bought a picture of an Irish potato for £750,000. “It’s not the first time that someone has bought the art right off my wall,” photographer Kevin Abosch told The Sunday Times newspaper. “We had two glasses of wine and he said, ‘I really like that.’ “Two more glasses of wine and he said, ‘I really want that.’ We set the price two weeks later.” Abosch took the picture of the organic Irish potato back in 2010 as part of a series, but he’s already known for snapping celebrities like Johnny Depp and Steven Spielberg. A starting price for one of his portraits will reportedly set you back around £200,000 at least. The artist had the spud delivered to him in a batch of organic vegetables, and says he understands how some people could see the price tag as being a little “absurd”. [BBC]

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  • Officials from the New York State parks system have proposed to temporarily “shut off” the American portion of Niagara Falls (also known as American Falls) within three years. The shut off will allow the replacement of two 115-year-old pedestrian stone bridges that are unsafe for the public. (Sky News)
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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

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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)
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