Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.
Losing the NCAA Men's Basketball Tournament Is Very Expensive (Bloomberg) This time last year, as the undefeated Kentucky men's basketball team stormed into the Final Four, the school was getting ready for the merchandising windfall that comes from a national title. Logos were prepared, T-shirts designed, and a deal was made to sell chunks of the championship court to fans. Coach John Calipari was going to sign some pieces, and a truck was ready to cart them away. Then Kentucky lost the semi-final game to Wisconsin. $30 million in sales was lost, $2.5 million of which would have gone to the university.
UConn's Seniors Are 2 Wins From a Feat Never Accomplished (The New York Times) In today's semifinals for the women's NCAA championship, the University of Connecticut will be seeking the first-ever fourth in a row national championship. A win would also surpass John Wooden's record of 10 career titles for Geno Auriemo. To reach the record, undefeated UConn will have to beat Oregon State (32-4) and then the winner of University of Washington (29-7) vs, Syracuse (26-10) on Tuesday.
Alaska Air Said Near Accord to Buy Branson's Virgin America (Bloomberg) Alaska Air Group Inc. is close to buying Virgin America Inc., the carrier backed by billionaire Richard Branson, in a deal that may be agreed to as early as Saturday night, according to people with knowledge of the matter. While negotiations are advanced, the deal could still fall apart and a last-minute bid from JetBlue Airways Corp. may be possible.
SunEdison Said to Be Preparing to File for Bankruptcy (The Wall Street Journal) In what would rank among the largest financial collapses in recent years, Solar-energy company SunEdison Inc. plans to file for bankruptcy protection in coming weeks, a dramatic about-face for a company whose market value stood at nearly $10 billion in July. The company is preparing a chapter 11 filing and is in talks with two creditor groups to obtain a loan to fund its operations during the process. Creditors are likely to take control of the company and its portfolio of power projects. SunEdison "used a combination of financial engineering and cheap debt to grow to be one of the country's biggest developers of renewable-power plants".
Muslim family seeks apology after being forced off United flight (CNN) A Muslim family is requesting a formal apology from United Airlines after being removed from a flight at Chicago O'Hare International Airport last month. After a discussion with a flight attendant about how to secure a child booster seat, United employees said the family needed to leave the plane because of "a safety of flight issue", according to a YouTube video (see below) posted by the mother, Eaman- Amy Saad Shebley. United said it was all about the booster seat, which "did not comply with federal safety regulations". Econintersect: The video cuts off abruptly so the full statement by the pilot is not available.
'Out' leads by 4 percentage points ahead of Britain's EU referendum: poll (Reuters) Brexit currently leads "Bristay". Support for Britain to leave the European Union stood at 43%, ahead of support to stay within the 28-member bloc, which stood at 39%, according to an online survey taken by pollster Opinion for the Observer newspaper. The poll of 1,966 adults, who were interviewed ahead of a referendum to stay in the European Union on June 23, found that 18% of respondents were undecided.
Osborne faces middle-class revolt as Government inheritance tax receipts soar to record £4.6bn (The Telegraph) Currently estates worth up to £325,000 can be passed on without paying inheritance tax with a rate of 40% payable above the threshold. But this is changing in April 2017 when the Government will introduce an additional tax-free allowance which will eventually allow homeowners to bequeath an extra £175,000 in property wealth. This means a new allowance for property owners of £500,000 - or £1 million ($1.42 million) for couples. George Osborne, the Chancellor, announced the policy in last year's Summer Budget to lift thousands of middle-class homeowners who want to leave their properties to younger family members out of inheritance tax. But OBR data suggests that despite the impact of the new reforms, the number of families paying inheritance tax is still on track to soar in future years. Econintersect: In the U.S. in 2016 the joint exemption available for a married couple is $10.9 million.
Turkey violence: Five soldiers, one police dead in Nusaybin bomb (BBC News) Five Turkish soldiers and one special forces police officer have died in a bomb attack in the country's south-eastern Mardin province. The victims were said to be taking part in an anti-PKK military operation in the city of Nusaybin, which has been under curfew since mid-March. Authorities say the PKK has dug trenches and put up barricades around Nusaybin. The attack comes just two days after seven police officers were killed and 27 others wounded in a car bomb attack on a police bus in the nearby main south-eastern city of Diyarbakir.
Syria: Mass grave uncovered in recaptured Palmyra (CNN) Nearly a week after recapturing Palmyra from ISIS, Syrian forces say they're uncovering grim evidence of how the Islamist terror group conducted its 10-month occupation of the ancient city. The liberating forces found a mass grave with at least 40 bodies -- many of whom were women and children -- in the northeastern part of Palmyra this week, the state-run Syrian Arab News Agency reported. The dead are believed to have been among hundreds killed by ISIS after it stormed into the central Syrian city in May. Some of the remains show signs of beheading and torture. Some of the remains reportedly show signs of beheading and torture.
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