Institutional Investor (March 6, 2012)
Amongst Europe’s best brokerages, Deutsche Bank was ranked #1 for research, edging out #2 J.P. Morgan Cazenove and #3 Bank of America Merrill Lynch. Completing the top ten were #4. UBS, #5. Morgan Stanley, #6. Barclays Capital, #7. Citi, #8. Credit Suisse, #9. Nomura International and #10. Sanford C. Bernstein.
Amongst Europe’s best brokerages, Deutsche Bank was ranked #1 for research, edging out #2 J.P. Morgan Cazenove and #3 Bank of America Merrill Lynch. Completing the top ten were #4. UBS, #5. Morgan Stanley, #6. Barclays Capital, #7. Citi, #8. Credit Suisse, #9. Nomura International and #10. Sanford C. Bernstein.
Tags: Brokerages, Europe, Research rankings
Financial Times (March 6, 2012)
Last year’s massive quake “awakened” Japan. The nation is now doing a comprehensive “rethink on how to mitigate the effects of disasters.” “Longstanding assumptions” are being overturned to envision even greater seismic risk. The newspaper emphasizes, “It would be wrong to dwell on such matters all the time. Despite its vulnerability to natural disaster, orderly Japan remains one of the world’s safest places to live.”
Last year’s massive quake “awakened” Japan. The nation is now doing a comprehensive “rethink on how to mitigate the effects of disasters.” “Longstanding assumptions” are being overturned to envision even greater seismic risk. The newspaper emphasizes, “It would be wrong to dwell on such matters all the time. Despite its vulnerability to natural disaster, orderly Japan remains one of the world’s safest places to live.”
Tags: Earthquake, Japan, Natural disaster, Risk, Safety
Bloomberg (March 6, 2012)
According to the Bloomberg Billionaires Index, Carlos Slim of Mexico is now the richest person on Earth, surpassing previous frontrunner Bill Gates. Warren Buffet rounded out the top three. “The combined net worth of the 20 richest people is $676.8 billion. Nine are Americans.” At number 11, Mukesh Ambani was Asia’s richest. Hong Kong’s Li Ka-shing and India’s Lakshmi Mittal also made the top 20.
According to the Bloomberg Billionaires Index, Carlos Slim of Mexico is now the richest person on Earth, surpassing previous frontrunner Bill Gates. Warren Buffet rounded out the top three. “The combined net worth of the 20 richest people is $676.8 billion. Nine are Americans.” At number 11, Mukesh Ambani was Asia’s richest. Hong Kong’s Li Ka-shing and India’s Lakshmi Mittal also made the top 20.
Tags: Asia, Bill Gates, Billionaires, Carlos Slim, India, Lakshmi Mittal, Li Ka-shing, Mexico, Mukesh Ambani, U.S., Warren Buffet
Washington Post (March 6, 2012)
“In our view, Mr. Obama’s arguments against an early attack on Iran…were persuasive.” While Iran has not decided to work toward a diplomatic settlement, there is still time. As President Obama pointed out, there will still be considerable lead time before Tehran is “in a position to obtain a nuclear weapon” and the U.S. will know when Iran first attempts this.
Tags: Diplomacy, Iran, Nuclear weapon, Obama, War
The Economist (March 3, 2012)
North Korea will suspend uranium enrichment at Yongbyon, admit International Atomic Energy Agency (IAEA) inspectors, and halt weapon and long-range missile testing. The U.S. will provide 240,000 tonnes of food aid, organize cultural exchanges, and support six-nation talks. “Despite North Korea’s record of caprice and outright deceit, this is a good deal for America. It could even turn out to be a great one.”
Wall Street Journal (March 3, 2012)
“Prime Minister Vladimir Putin, Russia’s paramount ruler since 2000, will reclaim his old job as president in Sunday’s elections. The drama comes in the aftermath…. Anticorruption blogger and activist Alexei Navalny will be in the middle of it.” Amid recent protests, he “has emerged as the charismatic and fresh face of the movement.” Just 35 years old, Navalny works from a small office with a staff of just 11. Yet he is feared by the Kremlin. Navalny remains the only opposition leader banned from state-controlled TV.
Tags: Navalny, Opposition, President, Putin, Russia
Bloomberg (March 1, 2012)Bloomberg (March 1, 2012)
Auditors have been at the heart of many recent accounting scandals. The U.S. Public Company Accounting Oversight Board (PCAOB) recently inspected Kyoto Audit Corp., finding numerous insufficiencies, including the failure to adequate examine revenue, the allowance for doubtful accounts and inventory valuation. The PCAOB’s report states the firm “had not obtained sufficient competent evidential matter to support its opinion on the issuer’s financial statements.” Kyoto Audit’s clients include Kyocera and Nidec, both of which have U.S.-registered securities.
Auditors have been at the heart of many recent accounting scandals. The U.S. Public Company Accounting Oversight Board (PCAOB) recently inspected Kyoto Audit Corp., finding numerous insufficiencies, including the failure to adequate examine revenue, the allowance for doubtful accounts and inventory valuation. The PCAOB’s report states the firm “had not obtained sufficient competent evidential matter to support its opinion on the issuer’s financial statements.” Kyoto Audit’s clients include Kyocera and Nidec, both of which have U.S.-registered securities.
Tags: Auditors, Kyocera, Kyoto Audit, Nicdec, PCAOB, Shortcomings, U.S.
Wall Street Journal (March 3, 2012)
“Prime Minister Vladimir Putin, Russia’s paramount ruler since 2000, will reclaim his old job as president in Sunday’s elections. The drama comes in the aftermath…. Anticorruption blogger and activist Alexei Navalny will be in the middle of it.” Amid recent protests, he “has emerged as the charismatic and fresh face of the movement.” Just 35 years old, Navalny works from a small office with a staff of just 11. Yet he is feared by the Kremlin. Navalny remains the only opposition leader banned from state-controlled TV.
“Prime Minister Vladimir Putin, Russia’s paramount ruler since 2000, will reclaim his old job as president in Sunday’s elections. The drama comes in the aftermath…. Anticorruption blogger and activist Alexei Navalny will be in the middle of it.” Amid recent protests, he “has emerged as the charismatic and fresh face of the movement.” Just 35 years old, Navalny works from a small office with a staff of just 11. Yet he is feared by the Kremlin. Navalny remains the only opposition leader banned from state-controlled TV.
Tags: Navalny, Opposition, President, Putin, Russia
Financial Times (February 28, 2012)
European companies have been required to report on a quarterly basis for fiver years. This has “done little but confuse and distract management and investors.” Short-termism encourages management to reject good investments simply because they conflict with quarterly earnings expectations. “Data overload cannot enhance company and shareholder interests. Rather than bombing investors with short-term data, companies should explain their long-term objectives, and how they propose to reach them.”
Tags: Europe, Investors, Long term, Management, Quarterlies, Shareholders, Short term
Forbes (February 28, 2012)
U.S. banks “took in nearly $120 billion in net income last year, the most since 2006, but that doesn’t mean they are back in their glory days.” What’s the problem? “Banks can’t seem to increase their top line numbers.” Profits are stemming from layoffs, cost cutting and loss provisions. “Banks are having a tough time making money off the loans they make.” Net operating revenue has actually dropped during three of the last four quarters and “full-year net operating revenue declined for only the second time since 1938.”U.S. banks “took in nearly $120 billion in net income last year, the most since 2006, but that doesn’t mean they are back in their glory days.” What’s the problem? “Banks can’t seem to increase their top line numbers.” Profits are stemming from layoffs, cost cutting and loss provisions. “Banks are having a tough time making money off the loans they make.” Net operating revenue has actually dropped during three of the last four quarters and “full-year net operating revenue declined for only the second time since 1938.”
Tags: Banks, Loans, Loss provisions, Net income, Operating revenue, U.S.
