Juncker and Trump strike deal that calms trade tensions
Jean-Claude Juncker and Donald Trump have reached an agreement that avoids a threatened transatlantic trade war, as reported by the BBC, Financial Times, Guardian, Telegraph and Reuters. Juncker and Trump said after meeting in Washington that the EU and US would work towards eliminating tariffs and non-tariff barriers in non-automotive manufactured goods. They also agreed to increase trade in services and agricultural goods. While few details were revealed, Trump said the EU would buy more American soybeans and liquified natural gas. Trump tweeted: “Great to be back on track with the European Union. This was a big day for free and fair trade!” Juncker tweeted: “I came for a deal, we made a deal. The EU continues to stand up for free and fair trade.”
Facebook stock down more than 20% after growth slows
Facebook shares suffered a sharp drop after announcing worse-than-expected quarterly earnings, reported CNBC and the Financial Times. While year-on-year sales were up 42%, total revenue was $200m less than analysts expected. The number of active users was flat in North America and shrank by about 1m in Europe. Facebook shares were down 22% in after-hours trading, wiping more than $140bn of its market capitalisation. Prior to the earnings announcement, Recode noted that despite negative headlines, advertisers have remained loyal to the social media firm. Recode also reported that Facebook’s top lawyer was leaving the company.
Berlin real estate market continues to soar
The value of property sold in the German capital last year was a record-breaking €18.2bn, according to DW.
KitKat bars don’t get break
The European Court of Justice ruled against Nestlé’s claim that the shape of its KitKat chocolate bars are unique, reported Reuters. In separate cases, both reported by DW, the EU’s top court said that new breeding techniques fall under the scope of European rules on genetically modified organisms, and that an Irish court did not have to extradite a suspect to Poland if it believed that he would not receive a fair trial there.
Pakistan election
Early poll results show that the former cricket player Imran Khan, of the PTI party, could be Pakistan’s next prime minister, according to the BBC and Guardian. Khan will likely need to form a coalition government. The current ruling party, the PML-N, has alleged election fraud, saying Khan is secretly backed by Pakistan’s military (which the military denies).
Shocking story behind Warmbier’s death
GQ investigated the death of Otto Warmbier, an American student who was arrested and imprisoned in North Korea, fell into a coma, and died shortly after being returned to the US. His family alleges that he was physically tortured in custody. However, the evidence is not that clear-cut.
NZ’s southern claims
New Zealand has been “increasingly mobilizing resources” in Antarctica, according to the Diplomat.
Water on Mars
Astronomers have found a 20km underground lake on Mars, according to the Economist and National Geographic. It’s not clear, however, if it contains water.