Ciao e benvenuto! Here’s this week’s top picks for news making headlines in the press.

U.S., China Agree on U.S. Audit Inspections in China – Wall Street Journal (Editor’s Pick)

The U.S. is planning to once again intervene in China. This time around, American and Chinese authorities have reached a provisional agreement to begin sending American audit-firm inspectors to China as observers in the hopes of eventually having more oversight over the Chinese firms that audit U.S.-traded companies. A Chinese audit firm that does not comply to U.S. investigation could lose its ability to audit U.S.-traded companies. We will be following the news for developments on this momentous intercontinental agreement.

FedEx Lowers Forecast, Citing Weak Economy – New York Times

With FedEx forecasting a stalling economy and decreasing earnings, what will the future hold for the shipping giant?

Outrage, to a Point – The Economist
When Japan purchased the three Diaoyu islands (also known as the Senkaku islands in Japan) Chinese nationals rose up in anger. In Shanghai, Chinese youth demonstrated in orderly protests. In other large cities including Qingdao, Beijing, and Xi’an, the people engaged in more violent acts including destroying property within Japanese factories and embassies.

129 inmates escape Mexican prison near U.S. border – CNN

In what sounds like something that could only happen in movies, 129 inmates escape from a Mexican prison by escaping via a tunnel and cutting through a chain-link fence.  CNN deemed the prison to be a “minimum-security facility.” Read the update here: Officials: Inmates walked out front door during mass prison escape in Mexico