27 June 2019 FT — Articles to Read

Question: According to MSN: Money, what is the most regretted college major in America?

China oil imports defy US sanctions and throw economic lifeline to Iran – Pg. 1

  • China is buying Iranian oil in defiance of US sanctions and providing what Tehran hopes will be a financial lifeline for the country’s buckling economy
  • …China is still importing Tehran’s oil, despite US measures designed to cut exports to “zero”
  • Oil sales are a crucial part of Iran’s efforts to resist the “maximum pressure” campaign of financial sanctions launched by the US after it pulled out of a landmark nuclear deal last year
  • Deliveries of Iranian oil to China come as Beijing is locked in a trade war with Washington.  The US has also imposed sanctions on exports from Venezuela, which China has provided with billions of dollars in oil-backed loans
  • Iran’s crude and oil condensate exports, which peaked at 2.8m barrels a day in April 2018, fell to about 1m b/d between November last year and April 2019 even though big buyers of Iranian crude – such as China and India – were given sanctions exemptions

BoE head urges stricter rules for funds – Pg. 12

  • BoE governor Mark Carney has said funds that invest in illiquid assets but allow investors instant access to their money are “built on a lie” and called for changes to regulations
  • Under European investment rules known as Ucits, funds that allow customers to buy and sell daily must have no more than 10% of their assets invested in unquoted securities

High demand for Austria’s 1bn (euro) century bond extension despite yield of just 1.2% – Pg. 19

  • Austria has returned to markets to sell more ultra-long debt after blowout demand for its debut 100-year bond two years ago, highlighting a scramble for returns in a world of rock-bottom sovereign yields
  • The country’s foray into the century bond market was preceded by Belgium and Ireland, which both raised 100m (euro) in 100-year debt in 2016…

Answer: Humanities.  The article mentions, “that those that study Humanities and Liberal Arts tend to make significantly less than those who study other things like STEM or business.”  (Prof Note: With $1.6tn in student debt, individuals needs to consider the Return ON Investment when choosing a major.  It is not just the cost of college but also the four years, i.e. 5.00% of one’s life, that could be used to start a business, etc.  I personally am wondering if the high cost of college has caused the value to not exist.)