Financial crisis in Venezuela is the problem known all around the world. Inflation that goes through the roof, hungry people and lack of the job places all point to the fact that the crisis is long overdue and that the government does nothing with the situation, although they definitely should. With all of this it is obvious, that the people of Venezuela would chose a president who would try and change the situation for the better. But sadly that was not the case.

Nicholas Maduro was once again chosen as the Venezuelan president. The elections went through even though the opposition boycotted the process and stated about all of the violations. According to the official sources, turnout for the elections added up to 46 percent of the entire population of Venezuela. Maduro gather about 68 percent of all the votes – 5.8 million. His opponent Henri Falcón gathered about 1.8 million votes.

Falcón has already said that his party does not recognize the results of the election as legitimate and that they stand for re-elections in the country. He says that the elections were forged with the usage of the special cards that the citizens of Venezuela get in order to buy food.

Because of the currency’s devaluation and economy being weak, people fell the lck of medicine and provision. As much as 70 percent of children suffer from malnutrition in some f the especially poor regions of the country.

Official government of Venezuela has recognized elections as see-through and honest. The term will be the second for Maduro.

Koo Bon-moo has been ruling LG Group for 23 years. In this time the total sales of the company have risen by more than 5 times to $148 billion annually. Noe it is said about Koo “Chairman Koo is the one who built the foundation of LG’s global businesses, which span batteries to OLED panels and telecom,” But sadly nothing lasts forever.

Koo Bon-moo has passed away yesterday, aged 73. And now the company falls into the hands of Koo’s adoptive son Koo Kwang-mo. He was nominated for the CEO place by the board of the LG Group. For now the procedure of the company fully going to Koo is frozen as the decision is to be approved by the shareholders of LG. this will happen on June, 29.

Koo-senior has turned LG into a world-wide conglomerate. The first appliance came out of the warehouse in 1959 and it was a simple radio. Now the company produces seemingly everything from smartphones and home appliances, to TV-sets. In 2015 LG broadened their horizons by sticking a deal with General Motors.

LG has been in Koo family for years. The late CEO was the third in his family to run it.

End of the last week was marked by the meeting of Chinese and American consulting groups in Washington. According to the officials, the agreement was reached to shorten trading deficit between the countries. This may be reached by expanding import of the wares to China. This decision allowed trade tension between the countries to be de-escalated and the prices for oil began to breeze freely after the results were declared.

Investors have reacted positively to the news about successful trading talks between USA and China.

World prices for oil are growing this trading morning as investors and feeling ground under their feet when it comes to oil prices. For now July futures for Brent grew 0.7 percent - $79.06 per barrel. July futures for WTI jumped 0.7 percent as well - $71.89 per barrel.

Co-head of Asia-Pacific at Pacific Investment Management Co Robert Mead said in an interview regarding the situation “The trade talks over the weekend suggest that real trade-war outcomes are very unlikely. This seems to suggest that global trade stays healthy -- we don’t have to worry too much about that.”

Treasuries continue to grow as well as the greenback. European shares are also in the green zone today.

Stoxx Europe 600 Index went up 0.2 percent.

FTSE gained 0.5 percent.

MSCI All-Country World lost 0.05 percent.

S&P 500 futures went up 0.5 percent.

Dollar gained 0.3 percent against the basket of six major currencies and is now at the highest point in almost 6 months.

Euro lost 0.4 percent with all the attention going to dollar recently. 0.4 percent loss brought it to the lowest spot in 6 months - $1.1726.

Pound performs the same as euro - -0.4 percent - $1.3411 – the weakest spot in 20 weeks.

WTI oil costs $71.64 per barrel after gaining 0.5 percent – the strongest in three years.

Gold lost 0.8 percent - $1.282.85 per ounce.