What We Read Today 06 August 2014

August 6th, 2014
in econ_news, syndication

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

  • 21st Century Fox withdraws bid for Time Warner (Roger Yu, USA Today) The offer made by Rupert Murdoch of Fox the buy media giant Time Warner for $80 billion has been withdrawn. In late July the offer was made and immediately rejected by Time Warner. After the announcement was made Time Warner stock (NYSE:TMW) fell by 11% and Fox stock (NYSE:FOX) advanced 8%, both in after-hours trading.

Follow up:

  • Russia troops build up on Ukraine border (Sam Jones and Roman Olearchyk, Financial Times) As Ukrainian troops advance on Russian-backed separatists in eastern Ukraine, Russia has increased troops massed on its border with Ukraine from 15,000 last week to 20,000. This is still only half the number in April but a 1/3 rise in less than a week has western powers concerned. In recent weeks Ukraine has retaken much territory from the insurgents who have retreated into the major cities of eastern Ukraine.
  • Russian Media Goes Far Out to Explain Malaysia Airlines Disaster (Carol Matlack, Bloomberg Businessweek) This article was published by official Russian news services days after Malaysia Airlines MH17 was shot down. One of several possibilities put forth was that a Ukrainian jet had shot down the airliner. The remaining suggestions of cause were quite far-fetched.
  • Claim: MH17 Was Being Flanked By Ukrainian Fighter Jets (Steve Watson, Infowars) This article, also just days after the downing of MH17, says that all civilian and military flights over Ukraine were escorted by Ukrainian air force fighter jets. This also contains reports that Ukraine troops were responsible for the shoot-down.

Another German aviation source, a Colonel A.D. Bernd Biederman has also supported the "no missile" thesis, neues deutschland: NVA-Raketenspezialist: MH17 nicht von Boden-Luft-Rakete abgeschossen (Neues Deutchland). Biederman maintains that a missile shot would have started fires immediately and he claims that wreckage only started burning after impact with the ground. Econintersect: Would wreckage been spread over a a six to nine mile range if the plane was brought down intact? Would bodies have fallen from the sky separately from the plane? Could the plane have disintegrated at altitude and not have caught on fire? Could "bullets" cause the plane to disintegrate? See contemporaneous Daily Mail article.

One of the commenters on the Ward article states that the maximum altitude of the SU-25 Ukrainian aircraft implicated by other reports has a maximum unloaded altitude of 23,000 feet and fully loaded with munitions 16,000. Flight MH 17 was flying somewhere between 31,000 and 35,000 feet at last ground contact.

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