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.
The whole story started with a whistleblower who leaked a huge number of documents and data. At 2.6 terabytes of information, this leak is enormous, dwarfing the Wikileaks documents about the Iraq war or even Edward Snowden's leaks of NSA surveillance details. Once again it shows how in the data age all organizations are vulnerable to vast caches of information being smuggled out on a computer hard drive or USB stick.
The World May Have Too Much Food (Bloomberg) For the first time in history, more people are obese than underweight. The past 40 years have seen an unprecedented increase in the number of obese adults worldwide, climbing to about 640 million from 105 million in 1975. If the current trend continues, about one-fifth of adults will be obese by 2025.
Oil Prices Fall On Dimming Prospect Of Output Restraint (International Business Times) Hat tip to Rob Carter. Monday's oil price declines extended a 4% tumble on Friday when Saudi Arabia said it would only participate in a global freeze of its output if its rival Iran also took part, something Tehran has so far dismissed. Adding to concerns of a global glut that has pulled down prices by as much as 70% since 2014, U.S. production has remained stubbornly high despite steep cuts in drilling for new reserves as well as a jump in bankruptcies.
What are the Similarities Between the Current Oil Collapse and the U.S. Housing Crisis? (Bloomberg)
With Pirates on the horizon, Iceland's government may not survive the Panama Papers (The Conversation) The release of the Panama Papers will have a huge impact around the world. But Iceland deserves some particular attention. According to documents leaked from Panamanian law firm Mossack Fonseca, several Icelandic politicians, former bankers and government advisers have had links to anonymous offshore companies. Among them, are three members of the Icelandic government: the prime minister, Sigmundur Dav'ð Gunnlaugsson, the finance minister, Bjarni Benediktsson and the interior minister, Ólöf Nordal. The government parties seem likely to lose big in the next elections. The prime minister is unable to complete an interview when the foreign bank question came up:
China Unveils Plan to Mine the Moon for Helium-3 (Yibada) Hat tip to Sanjeev Kulkarni. China plans to mine the moon for its large deposits of Helium-3, a rare substance that can give enough power via nuclear fusion for 10,000 years and solve Earth's energy crisis. Mining Helium-3 is considered an economically viable plan as each ton of the rare substance has an estimated value of $3 billion, while the total R&D cost for building a fusion plant and creating the necessary spacecraft would cost $20 billion.
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