Afternoon Coffee: Samsung Blames Suppliers in Galaxy Note 7 Recall, Trump Paves Way for Keystone

Samsung tried to calm consumers and investors at an event this week with details of what went wrong in its Galaxy Note 7 phones, which have been plagued by overheating issues. The Wall Street Journal reports that the Seoul-based company mainly blamed manufacturing and design problems with suppliers, although the “root cause” of the failure had not yet been determined.

Trump Revives Keystone Pipeline

President Trump reversed Tuesday his predecessor's blocks on the Keystone Pipeline, paving the way for construction on that project and another controversial pipeline in the Dakotas. Trump is expected to curb regulations that slow other building projects, as well, the New York Times explains.

Inflation Takes Hold in Mexico

Mexico's inflation rate jumped by the most in 18 years as gasoline prices surged and the peso slumped, according to the Salt Lake Tribune. Consumer prices increased 4.78% in the first half of January from the year earlier, and prices climbed 1.51% from two weeks earlier, more than the 1.27% median forecast of 18 economists surveyed by Bloomberg.

Cocoa Hold Up

And finally, late rains and inadequate port equipment have caused cocoa supplies to pile up in harbors of the Ivory Coast, Bloomberg reports. The world’s biggest cocoa producer has experienced backlogs since December.

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *