Happy Saturday folks, among the news that you should know: Dominique Strauss-Khan was found not guilty of aggravated pimping, an IMF review team is currently in China, and Takata’s “killer” airbags were linked to another death in the U.S.
Here’s more:
Emerging market stock fund outflows hit record. Spiking interest rates coupled with China’s non-inclusion to the MSCI lead investors pull a record $9.2 billion from emerging-market equity funds this week, with nearly $7 billion yanked from China-focused funds alone. Bloomberg
DSK acquitted of aggravated pimping charges. Former IMF managing director and judge-described “Libertine,” Dominique Strauss-Khan, was found not guilty of aggravated pimping Friday in Lille, capping a four-year legal battle that titillated France as descriptions of his rouédom were presented to all and sundry. New York Times
Elizabeth Warren apparently knows all of Jamie Dimon’s tricks. After receiving a “mansplaining” offer from JP Morgan CEO Jamie Dimon, U.S. Senator Elizabeth Warren fired back, telling the Huffington Post that “(t)he problem for these guys is that I fully understand the system and I understand how they make their money, and that’s what they don’t like about me.” A witty response from Jamie Dimon should be forthcoming. Bloomberg
IMF currency review team currently in China. In part of the IMF’s review over the inclusion of the Chinese Yuan in its Special Drawing Rights currency basket, the global lender currently has a team “visiting China to have technical discussions.” Beijing has been aggressively promoting the Yuan’s inclusion into the basket, a move that, if successful, could elevate the nation’s standing in the global financial system exponentially. Reuters
Takata’s “killer airbags” were “likely involved” in Louisiana death. In another blow to Japan’s Takata Corporation, U.S. officials have linked a Louisiana woman’s death to one of their defective airbags, bringing the death toll to seven. In a sad twist, the deceased received Honda’s safety notice two days after the incident. WSJ
Photo credit: Ninian Reid via Flickr