In The News:
Jobs, Jobs, Jobs…
The Labor Department announced on Friday the economy added 288,000 jobs in April and the unemployement rate dropped to 6.3%. We will have a full recap on Monday.
Meet the New Boss…
It’s official. On July 1, Mark Field will take over as chief executive of Ford Motor Company (F). Current head Alan Mulally, will step down after 8 years. When Mr. Mulally arrived in 2006, the second largest auto maker’s troubles were all internal and included a dysfunctional culture, poor product quality and mounting losses. When Mr. Fields takes the reins in July, he will inherit an expanding and profitable company whose biggest test will be expansion in foreign operations in China, Russia and other emerging markets. Oh, the difference a few years makes.
The International Monetary Fund board (IMF) approved a two-year, $17 billion loan package for cash-strapped Ukraine as it seeks to regain stability. The IMF pledged assistance back in March based upon the passage of new economic reforms in Ukraine, including raising taxes, freezing the minimum wage and raising energy prices. These new reforms have Ukraine’s interim government caught between the demands of international creditors and a restive population that has endured decades of economic stagnation, corruption and mismanagement.
The decision to approve $17 billion worth of loans paves the way for Ukraine to receive $15 billion in additional assistance pledged by the World Bank, the European Union, Canada, Japan and other European entities, and $1 billion in loan guarantees from the U.S. that Congress recently approved. Also part of the deal, the Ukraine will be required to use some of the $17 billion loan to repay money it already owes the monetary fund.
In The Markets:
Asian markets ended the week mixed as traders were hesitant to make big bets ahead of Friday’s US jobs reports.
European markets inched higher on Thursday as most markets were closed for May Day. Another round of solid earnings from U.K. majors like Lloyds Banking Group and BSkyB put investors in a buying mood.
U.S. markets ended a choppy session mixed as traders hungout on the sidelines ahead of Friday’s job report unphased by better than expected Consumer spending and ISM reports. DJIA: -21.97 16558.87 S&P: -0.27 1883.68 NASDAQ: +12.90 4127.45
In Dinner or Drinks:
4 fresh mint sprigs
2 1/2 oz bourbon whiskey
1 tsp powdered sugar
2 tsp water
Muddle mint leaves, powdered sugar, and water in a collins glass. Fill the glass with shaved or crushed ice and add bourbon. Top with more ice and garnish with a mint sprig. Serve with a straw.
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“Even if you are on the right track, you’ll get run over if you just sit there.”
― Will Rogers
Have a safe and wonderful weekend, Ya’ll!