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Poor voters aren’t bad for Hong Kong—prosperity and democracy often go hand in hand

The BriefYour world right now

2 hours ago

Tesco’s profit shortfall gets even worse.

  Britain’s  biggest retailer said first-half profits were overstated by £263 million ($422 million)—significantly more than the £250 million it warned of previously. Chairman Richard Broadbent announced his resignation.
7 hours ago

A man jumps the White House fence.

  The 23-year-old was stopped outside the building by the Secret Service K-9 dog unit, and was arrested and sent to the hospital with dog bites. A similar episode last month led to the resignation of the Secret Service director Julia Pierson; officers were on high alert following the Ottawa attack.
6 hours ago

Procter & Gamble reshuffles its top brass.

  The multinational consumer goods giant announced new leaders across its key businesses and the imminent departure (paywall) of Melanie Healey, the head of its US operations. P&G’s US business is its most profitable, but it has failed to regain sales and market share following the financial crisis.
7 hours ago

“Tax inversion” deals aren’t dead yet.

  US generic drug maker Mylan will tweak its $5.3 billion purchase of an Abbott Laboratories unit, a deal designed to let it reincorporate as a Dutch company (paywall) and pay lower corporate taxes. In response to new US Treasury rules, Mylan will allow Abbott to maintain 22% ownership of the unit, versus 21% previously.
October 22, 2014

Consequences for the notorious Blackwater shootings in Baghdad.

  It took seven years, but today a jury in Washington, DC convicted four former Blackwater security guards who mowed down 14 unarmed Iraqis with machine guns and grenades in a Baghdad traffic circle. Only one of the soldiers—Nicholas Slatten—was convicted of murder. The other three were convicted of voluntary manslaughter, attempted manslaughter and gun charges.
October 22, 2014
Chart of the Moment

The 30-year-old Mac business is enjoying its third wind.

October 22, 2014

Labor unrest suppresses growth in South Africa.

  The country’s treasury was expecting to see economic growth hit 3% this year, but cut the forecast down in February to 2.7%. That number has just been reduced even further to 1.4%, with labor issues—specifically the strikes in its mining and manufacturing sectors—to blame. South Africa’s GDP hasn’t grown more than 2% annually since the 2009 recession.
6 hours ago

The empty reaches of space are actually quite loud.

  NASA’s SoundCloud account lets everyone have a listen.

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