LyrArc Article Gist
The changing situation in the second half of 2013, in which U.S. stocks are trading at values less in correlation with the overall market and policies of the Federal Reserve and more in line with individual stock performance and prospects.

LyrArc Article Gist
Pemex's new CEO, Emilio Lozoya, and his plans for improving the oil company's operations. He sees the opportunity to create efficiency and savings for Pemex as large because of the way the company has been run upto now. In this interview by Jose De Cordoba and Laurence Iliff, the new CEO cites as one example that only one airport in Mexico receives jet fuel by pipeline, the airport of Mexico City, the rest receive it by trucks. Lozoya is the son of a former energy minister. He is 38, has a Masters degree in economic development from Harvard and worked as an investment banker in New York. Lozoya says he will draw from the experience of other countries, including Brazil and Colombia which have sharply increased oil production after making their oil companies more competitive and transparent. In this interview he announced plans to setup a separate company to explore and produce shale gas and deep water oil in the U.S.

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The return of street bombings in Iraq by Al Quaeda affiliates leads to increased sectarian violence in 2013. Sunnis feel they are targeted as Iraqi government forces conduct searches following bombings, and issue residence cards for Sunni areas to prevent infiltration by Al Quaeda terrorists. Sunnis fear the formation of Shiite private militia groups.

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Georgia Tech's online open courses for a masters degree in computer science is a first and is likely to change the way higher education takes place in the U.S. and globally. This degree will cost $6600 compared to $45,000 on campus. It is part of a collaboration between Udacity founder, Sebastian Thurn and Zvi Galil, dean of Georgia Tech's college of computing.

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The S.E.C. anti-bribery unit investigation focusses on the hiring of the son of a former Chinese banking regulator, who is now chairman of state controlled China Everbright Group, and the daughter of a senior railway official by JP Morgan Chase bank. The China Railway Group, a state owned company that builds railways for the Chinese government, raised over $5 billion in 2007, with the help of JP Morgan. JP Morgan Chase advised a subsidiary of the China Everbright Group in a stock offering.

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The Indian rupee drops to a low of 62.13 in trading on Aug. 16, 2013. The Bombay Sensex index drops by 4%.

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The deal for a peaceful end to the protester camps of Morsi supporters arranged by the U.S. and the E.U. through the foreign ministers from Qatar and the United Arab Emirates. E.U. envoy for Egypt, Bernardino Leon, says a simple package was proposed by Burns, Leon, and the two foreign ministers for removal of the camps to be followed by talks between the government and the Brotherhood party leading to new elections. Gen. Sissi refused to accept the package leading to the resignation of the leader of the secular parties, El Baradei. This deal by Leon is referred to by the minister for planning and international cooperation of the Morsi government in his op-ed in the NYT on August 16, 2013, and was an effort by the international community to bring a peaceful resolution of the problem leading to new elections.

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The GM Spark minicar is lower priced than the Fiat 500 and is catching up with Fiat's small car in U.S. sales.