Here is CurrentHow’s daily briefing for the 16th of September 2016:
1. Samsung is in the midst of a massive recall of its Note 7 phablet:-
Samsung is recalling 1 million of its phablets from the United States alone, as incidents of overheating and explosions come to light. Samsung says it will either replace the phablets or will offer a full refund to customers. The scale of this recall is unprecedented for Samsung, the world’s largest smart phone maker.
2. Japan agrees to join the U.S. led ‘freedom of navigation’ patrols in the South China Sea:-
In a move that is likely to raise hackles in China, The Japanese Navy has consented to join the United States’ Navy in carrying out joint patrolling in the disputed South China Sea.
3. The man who publicly accused Philipines President Duterte of running a ‘unconstitutional hit squad’ has been denied state protection:-
Senate President Pimentel announced the decision saying that the complainant’s life was never threatened. Massive protests have erupted in the country after allegations by Edgar Matoboto that the Filipino President had sanctioned a hit squad, unconstitutionally targeting drug cartel members and snatchers.
4. Deutsche Bank will contest the demand of $14 billion from the U.S. authorities:-
Deutsche bank has said that it will fight the demand from the United States’ Department of Justice to settle claims it missold mortgage-backed securities. The bank was expecting a figure of about 3 billion euros ($3.4 billion) and the staggering figure of $14 billion has shocked Germany’s largest lender, raising questions about its future.
5. Bosnia expects the European Union to accept its application for membership next week:-
The economically starved nation had made an earlier attempt at gaining EU approval, which was scuttled by arguments between its autonomous governments, set up 20 years ago to preserve the country’s unity at the end of an ethnic war. Bosnia’s autonomus Serb Republic had earlier rejected key conditions imposed by Brussels, but relented after intense U.S. pressure. The application will be examined at the EU Foreign Ministers’ session in Brussels on Tuesday.