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Jan 20, 2014

NYT | Asia Morning Today's Headlines January 21, 2014: Busness: Swindlers Use Telephones, With Internet's Tactics.



Top News
Under U.S. Pressure, U.N. Withdraws Iran's Invitation to Syria Talks

By MICHAEL R. GORDON, SOMINI SENGUPTA and ALAN COWELL

The United Nations secretary-general, Ban Ki-moon, rescinded the invitation a day after he offered it, which threatened to unravel the talks.
Two International Atomic Energy Agency inspectors, center, working with Iranian technicians, disconnected the connections between the twin cascades for 20 percent uranium production at nuclear power plant of Natanz, Iran, on Monday.
Temporary Nuclear Deal With Iran Takes Effect

By RICK GLADSTONE and THOMAS ERDBRINK

In return for suspending nuclear enrichment to 20 percent, Iran is hoping for economic benefits to flow from the easing of international sanctions.
Catherine Samba-Panza, mayor of Bangui, after being elected interim president of the Central African Republic by the transitional parliament, on Tuesday. 
Woman Is Chosen to Lead Central African Republic Out of Mayhem

By ADAM NOSSITER

Catherine Samba-Panza, the mayor of Bangui, was elected by the makeshift parliament to help end the bloodshed and later hold elections.
For more top news, go to INYT.com
Editors' Picks

OPINION | OP-DOCS

'China's Web Junkies'

By SHOSH SHLAM and HILLA MEDALIA

A short documentary about a Chinese boot-camp-style treatment center for young men "addicted" to the Internet.

MOVIES

Video VIDEO: Who Will Win the Foreign Language Oscar?
The Academy Award winners for the best foreign language film category have seemed preordained in past years, but the 2014 field has five strong nominees led by the Italian film "The Great Beauty."
World
Using burned vehicles as barricades, a protester flung a Molotov cocktail in the direction of riot police in central Kiev on Tuesday.
Protesters in Ukraine Try to Block Government Offices

By ANDREW E. KRAMER

Overnight violence appeared to be the worst in at least a month for the Ukrainian protest movement, as the country's political crisis deepened.
. Video  Video: Protests in Kiev Turn Violent
A Rise in Gas Prices May Shatter an Old Venezuelan Illusion

By WILLIAM NEUMAN

In Venezuela, the country with the world's cheapest gasoline, a beleaguered economy may force the government to raise prices.
At the Plaza shopping mall in Niterói, a suburb of Rio de Janeiro, young people gather in what is known as a rolezinho, or stroll.

SÃO PAULO JOURNAL

Brazil's Latest Clash With Its Urban Youth Takes Place at the Mall

By SIMON ROMERO

Authorities are struggling to decide how to handle rolezinhos - rowdy gatherings of young people at shopping malls - as questions abound about its racial, social and class implications.
For more world news, go to NYTimes.com/World
Business
Ralph Gagliardi of the Colorado Bureau of Investigation traced money in a swindle from Colorado to Florida to Nigeria.
Swindlers Use Telephones, With Internet's Tactics

By NICK WINGFIELD

Online phone-call tools have made it easy for swindlers to dupe victims out of valuable personal information or to overwhelm phone systems for essential public services like hospitals.
A motion detector can send your smartphone an alert.
Building Toward the Home of Tomorrow

By JENNA WORTHAM

The announcement last week that Google was paying $3 billion to acquire Nest, a maker of Internet-connected home products, put a sort of Good Housekeeping seal of approval on this nascent market.
Gov. Chris Christie, who has been seen on MSNBC many times since taking office, appeared on
For Christie and MSNBC, a Messy Divorce Plays Out in Public View

By MICHAEL BARBARO and BILL CARTER

The improbable relationship between a governor with his eyes on the White House and a network determined to break into the top tier has curdled in a spectacularly public fashion.
For more business news, go to INYT.com/Business
Technology
Chet Kanojia, chief executive of Aereo, at the company's Manhattan office.
A Tiny Antenna Threatens the TV Networks' Airspace

By LESLIE KAUFMAN

Chet Kanojia's company, Aereo, has figured out how to grab over-the-air television signals and stream them to subscribers on the Internet. It is an invention that could topple TV titans.
Looking for Relief From a Flood of Email

DISRUPTIONS

Looking for Relief From a Flood of Email

By NICK BILTON

For those who can't seem to handle the onslaught of email, there is always the extreme option: select all, hit delete and declare email bankruptcy.
For more technology news, go to NYTimes.com/Tech
ADVERTISEMENT
Sports
Sochi 2014
Justine Dufour-Lapointe, left, will not only share a spot on the Canadian Olympic team with sister Chloe, right, but also their oldest sister, Maxime.
Canada Selects Three Sisters for Olympic Ski Team

By SAM DOLNICK

The Dufour-Lapointes, who include Justine, 19, Chloé, 22, and Maxime, 24, are believed to be the fifth family to send at least three siblings to the Games.
Roger Federer delivered his 6-3, 7-5, 6-4 fourth-round victory over Jo-Wilfried Tsonga with ease. He will face Andy Murray in the quarterfinals, and perhaps Rafael Nadal in the semis.
A Relaxed Federer Brushes Tsonga Aside

By GREG BISHOP

Roger Federer and Andy Murray all but skated into their quarterfinal confrontation, winning easily despite real concerns for both early in the 2014 season.
For more sports news, go to INYT.com/Sports
U.S. News
Shimeek Gridine's grandmother Wonona Graham, left, and mother, Charlett Gridine. Shimeek was sentenced to 70 years in prison without parole for a crime he committed when he was 14.
Juveniles Facing Lifelong Terms Despite Rulings

By ERIK ECKHOLM

The Supreme Court acted in 2010 and 2012 to curtail the use of mandatory life sentences for juveniles, but experts say most states have taken half-measures to carry out the rulings.
The Montage Deer Valley resort in Park City, Utah, where Senator Kelly Ayotte of New Hampshire mixed skiing with fund-raising this month.
A Loophole Allows Lawmakers to Reel In Trips and Donations

By ERIC LIPTON

Weekend fund-raisers at high-end resorts prove well worth the trip for the members of Congress who host the events, and those seeking influence in Washington.
Sharon Mills, of Welch, W.Va., has a list of ailments that require treatment that she cannot afford. She has been eagerly waiting on the benefits of the Affordable Care Act. 
Peace of Mind Is First Benefit for Many Now Getting Medicaid

By SABRINA TAVERNISE

The men and women getting coverage in West Virginia, one of the poorest states in the country, say the mere fact of having it has dramatically improved their mental health.
For more U.S. news, go to NYTimes.com/US
Opinion

OP-ED CONTRIBUTOR

The 'How Are You?' Culture Clash

By ALINA SIMONE

Americans are "fine." Ask a Russian, and you'll get much more: the truth.

EDITORIAL

When Children Become Criminals

By THE EDITORIAL BOARD

Sixteen-year-olds in New York belong in the juvenile system, not in adult courts or prisons.
Bill Keller

OP-ED COLUMNIST

An Unsung Hero of Civil Rights

By BILL KELLER

Celebrate Martin Luther King Jr. and lift a glass to Bill McCulloch. (Who?)
. Columnist Page | Blog
For more opinion, go to INYT.com/Opinion

MoneyShow Hot Off The Tape January 20, 2014: Featured Interviews and Webcasts.

MoneyShow.com Hot off the Tape

NEXT SHOW!

The World MoneyShow Orlando

Expert Q&As

Pros Tackle the Market’s Tough Questions
VNI
Speaker Photo
Jim Jubak
New Feature!
Monday, January 20, 2014
The News Keeps Getting Worse (3:11)  Transcription
For those hoping for a rebound in this depressed asset class, they should look more closely as MoneyShow's Jim Jubak reviews a series of developments that are not too encouraging.  GLOBAL

Friday, January 17, 2014
Market Still Vacillating (3:32)  Transcription
Jim JubakMoneyShow.com  STOCKS
Watch Now
Thursday, January 16, 2014
Non-Bank Banks (6:04)
Neil George, Income Publication and Products, Agora Financial  STOCKS
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Wednesday, January 15, 2014
Clues from FOMC Minutes (3:04)  Transcription
Jim JubakMoneyShow.com  BONDS
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Tuesday, January 14, 2014
Investing Myths (3:54)  Transcription
Mike Dever, Brandywine Asset Management, Inc.  STRATEGIES
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View the complete Video Library

Webcasts

In-Depth Instruction for Investors in All Markets
Webcasts
Speaker Photo
Robert Carlson
New Feature!
Monday, January 20, 2014
Securing Your Lifetime Income Stream
Creating sustainable lifetime income has never been more difficult. Zero interest rates, higher taxes, a sluggish economy, and other forces are working...  INCOME

Friday, January 17, 2014
Heavy Metal for Easy Listeners: Chart-Topping Resource Investments to Own Now (34:52)
Gregory DorseyThe Leeb Group  COMMODITIES
Watch Now
Thursday, January 16, 2014
VR Forecasts for the Major Markets (29:15)
Mark LeibovitVRTrader.com  STRATEGIES
Watch Now
Wednesday, January 15, 2014
How to Find High-Yielding Dividend Stocks Even in a Risky Interest-Rate Environment (33:00)
Jim JubakMoneyShow.com  DIVIDEND
Watch Now
Tuesday, January 14, 2014
Dividends-a-Plenty (34:18)
Brad ThomasThe Intelligent REIT Investor  DIVIDEND
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More On-Demand Webcasts



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European Bank for Reconstruction and Development (EBRD) | Disclosed Information January 20, 2014: Summary of Selected Projects.


20-01-2014 12:00 AM GMT

ADVFN III Evening Euro Markets Bulletin January 20, 2014.


ADVFN IIIEvening Euro Markets Bulletin
Daily world financial newsMonday, 20 January 2014 

London Market Report
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FTSE 100EuronextDax perfCAC 40
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London close: FTSE 100 edges higher after quiet session
- FTSE 100 within touching distance of 14-year high
- Banks fall after Deutsche Bank's Q4 loss
- Chinese growth slowed down in Q4
- UK outlook improves
- HSBC highlights potential risks from too-low inflation readings

techMARK 2,853.67 +0.09%
FTSE 100 6,836.73 +0.11%
FTSE 250 16,227.11 +0.25%

It was a quiet session for markets in the UK and across Europe on Monday with volumes on the thin side with Wall Street closed for Martin Luther King Jr. Day.

"European indices are trading little changed after a lifeless start to the week with all headline equity gauges trading within a tight range," said Max Cohen, Financial Sales Trader at Spreadex.

Nevertheless, the FTSE 100 still managed to eke out small gains to finish up 7.43 points at 6,836.73. The index is now within touching distance of last year's closing high of 6,840.27 reached in May 2013 and its all-time high of 6,930 hit in December 1999.

Asian markets were lower overnight after data showed that Chinese GDP expanded at a year-on-year rate of 7.7% in the fourth quarter of 2013, slightly ahead of the 7.6% growth expected but down from 7.8% the previous quarter. That means that GDP growth levelled out to 7.7% during 2013 as a whole, the same as 2012, though economists broadly predict a further slowdown next year.

These concerns were countered slightly by an improving outlook closer to home, with UK business optimism improving in the fourth quarter of 2013, according to the quarterly CBI/PwC financial services survey. Meanwhile, reports that the International Monetary Fund is set to upgrade UK growth forecasts also boosted sentiment slightly. It is expected to lift its UK GDP growth projection in 2014 from 1.9% to 2.4%.

On a more sobering note, and in reference to inflation at the global level, the Financial Times cited top-ranked HSBC economist Stephen King as having said: "We're not forecasting a descent into outright deflation. Instead, we're highlighting the risk that inflation remains too low or, worse, that it continues to sink over the next two years."

Banks under pressure

Negative read-across from a surprise fourth-quarter loss at Deutsche Bank weighed on the banking sector across Europe today, with UK banks being no exception. BarclaysLloydsStandard Charteredand HSBC all finished in the red.

RBS was also hit after analysts at JPMorgan Cazenove downgraded the stock to 'underweight'.

Leading the upside on the blue-chip index were precious metal miners Fresnillo and Randgold which were both rising strongly with FTSE 250 peer Polymetal following suit.

Oil and gas engineer Weir wasn't far behind, rising strongly after upbeat comments from analysts atRedburn, which said that "any sign of earnings stability will be met by a re-rating". Recent M&A activity in the sector and positive read-across from US peer Baker Hughes were also said to be behind the rise today. The US outfit is due to publish its latest quarterly results tomorrow.

Similarly,Diageo and SABMiller were on the up as M&A activity continues to pick up in the global drinks industry. Just a few days after whisky maker Beam was bought for $16bn by Suntory, it was announced that AB InBev is buying back South Korean brewer Oriental Brewery for $5.8bn.

Shares in Hargreaves Lansdown benefited from an upgrade by Credit Suisse, which moved its rating on the financial services stock from 'underperform' to 'neutral' and significantly upped its target from 790p to 1,470p.

The same bank, however, downgraded its rating for luxury brand Burberry from 'outperform' to 'neutral', pushing the stock lower by the close.



FTSE 100 - RisersFresnillo (FRES) 776.50p +6.08%
Randgold Resources Ltd. (RRS) 4,185.00p +5.82%
Weir Group (WEIR) 2,227.00p +4.21%
Hargreaves Lansdown (HL.) 1,509.00p +3.85%
Pearson (PSON) 1,306.00p +2.03%
Next (NXT) 6,255.00p +1.79%
British Sky Broadcasting Group (BSY) 854.00p +1.67%
Associated British Foods (ABF) 2,692.00p +1.66%
British American Tobacco (BATS) 3,121.00p +1.50%
SABMiller (SAB) 3,094.00p +1.41%

FTSE 100 - FallersBarclays (BARC) 282.80p -2.01%
Prudential (PRU) 1,345.00p -1.39%
Rio Tinto (RIO) 3,336.00p -1.39%
Royal Bank of Scotland Group (RBS) 359.00p -1.29%
Mondi (MNDI) 1,001.00p -1.09%
BT Group (BT.A) 379.50p -1.02%
Burberry Group (BRBY) 1,500.00p -0.99%
CRH (CRH) 1,637.00p -0.97%
Shire Plc (SHP) 2,993.00p -0.86%
Aberdeen Asset Management (ADN) 435.40p -0.82%

FTSE 250 - RisersNMC Health (NMC) 497.90p +6.37%
Imagination Technologies Group (IMG) 208.90p +6.09%
Hunting (HTG) 798.00p +5.77%
Polymetal International (POLY) 570.00p +5.75%
F&C Asset Management (FCAM) 92.00p +4.90%
JD Sports Fashion (JD.) 1,625.00p +3.57%
Bwin.party Digital Entertainment (BPTY) 120.10p +3.18%
Carphone Warehouse Group (CPW) 279.80p +3.17%
Oxford Instruments (OXIG) 1,800.00p +3.15%
Kenmare Resources (KMR) 18.90p +2.89%

FTSE 250 - FallersICAP (IAP) 432.80p -4.31%
Kentz Corporation Ltd. (KENZ) 664.00p -3.14%
FirstGroup (FGP) 136.80p -3.12%
Domino Printing Sciences (DNO) 824.50p -2.94%
Xaar (XAR) 1,011.00p -2.79%
Bank of Georgia Holdings (BGEO) 2,328.00p -2.55%
Big Yellow Group (BYG) 501.00p -2.15%
Moneysupermarket.com Group (MONY) 192.20p -1.69%
Petra Diamonds Ltd.(DI) (PDL) 122.50p -1.61%
Home Retail Group (HOME) 204.40p -1.54%



US Market ReportUS open: Markets mixed after barrage of economic data and earnings
- UPS, Intel, GE fall heavily
- Morgan Stanley beats forecasts
- Housing starts beat forecasts, but permits miss
- Consumer confidence declines

Dow Jones: 0.15%
Nasdaq: -0.21%
S&P 500: -0.16%

Markets were lacking direction on Friday morning as investors digested mixed economic data from the housing market and a surprise decline in consumer confidence.

It was also a busy day for corporate earnings; Intel and UPS were both providing a drag after disappointing investors with guidance, General Electric slumped after missing forecasts, while Morgan Stanley jumped after beating expectations.

The Dow Jones Industrial Average rose 0.15% early on; the Nasdaq was down 0.21%, while the S&P 500 was trading 0.16% lower.

Housing data comes in mixed; consumer sentiment weakens

US housing starts fell 9.8% over the month in December to reach an annualised rate of 999,000, according to the US Department of Commerce. This was a significantly pull-back from the revised 23.1% gain in November but still came in ahead of the consensus forecast of 990,000.

Putting last month's fall into context, Property Economist Paul Diggle from Capital Economics said: "It only reversed half of November's (upwardly revised) increase; starts are still up on this time last year and they are more than double their low point from 2009."

However, data today also showed that building permits – more closely-watched by analysts given that they are a forward-looking indicator of housing activity – dropped by a worse-than-expected 3% during December to 986,000, coming in below the 1.014m prediction.

The preliminary reading of the University of Michigan consumer confidence index unexpectedly fell from 82.5 to 80.4 in January, surprising analysts who had expected a rise to 83.5.

Meanwhile, industrial production increased by 0.3% in December, as expected. Manufacturing output expanded by 0.4%, ahead of the 0.3% rise predicted.

Intel, UPS and GE fall; Morgan Stanley gains

Microprocessor group Intel was a heavy faller early on after saying after the bell last night that no revenue growth is expected in 2014, with the struggling PC market affecting demand. Fourth-quarter profit, however, rose to $2.6bn from $2.5bn the year before on sales that rose to $13.83bn from $13.48bn.

Delivery firm UPS was in the red after lowering its guidance for 2013 due to a shorter-than-expected holiday shopping season. Despite an "unprecedented" surge in last-minute orders, the company said that a shorter peak season for deliveries and poor weather dampened results.

Conglomerate General Electric also declined despite a broadly in-line fourth-quarter with income rising 4.8%.

Banking group Morgan Stanley gained strongly after topping estimates despite a 70% drop in fourth-quarter profits due to weak fixed-income trading results, legal costs and expenses. Investors were also reacting to its updated strategic plan, in which is reiterated its target for return on equity to exceed 10%.

Broker TipsBroker tips: Burberry, AB Foods, Motor insurers
Credit Suisse has lowered its recommendation for luxury fashion brand Burberry from 'outperform' to 'neutral', saying that the outlook for the stock looks 'tough' in the near term.

"We now think that Burberry's superior top-line momentum is unlikely to translate into superior earnings growth versus its luxury peers over the next two years," Credit Suisse said.

UBS has named food ingredients and retail firm Associated British Foods as its 'Key Call', as it hiked its target for the stock from 2,430p to 2,890p following last week's first-quarter update.

The bank believes that AB Foods, rated 'buy', should trade on a higher multiple due to the structural growth story at its retail division Primark. Primark is now being valued - based on the current share price - as 70% of the whole company given UBS' £15.5bn valuation for the retailer.

Canaccord Genuity has lifted its targets across the UK motor insurance sector after recent data showed that premium trends began to improve at the end of last year.

The broker has lifted its rating for Admiral from 'sell' to 'hold' and raised its target from 1,160p to 1,400p. The target for Direct Line ('buy') has been raised from 240p to 275p, while the target for esure ('buy') has been lifted from 255p to 305p.trade the most liquid financial market in the world
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Europe Market Report
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FTSE 100EuronextDax perfCAC 40
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Europe close: Stocks mixed as US closes for holiday
- Chinese GDP slows
- US market shut for Martin Luther King Jr. Day
- IMF to upgrade global economic forecast
- Berlusconi returns to politics

FTSE 100: 0.08%
DAX: -0.35%
CAC 40: -0.15%
FTSE MIB: 0.02%
IBEX 35: -0.22%
Stoxx 600: -0.13%

European stocks were mixed on a quiet day for markets as US trading was closed to mark the birthday of civil rights leader Martin Luther King Jr.

"Without the US, we are a bit light on fresh data to see the markets want to pull too hard in either direction, with Chinese gross domestic product (GDP) numbers providing the focal point of the day so far," said Toby Morris, Senior Sales Trader at CMC Markets.

China's gross domestic product (GDP) expanded 7.7% compared to the same period a year earlier, easing back from a 7.8% increase in the third quarter and marking the slowest pace of growth since 1999.

Another report showed industrial production in China was up 9.7% year-on-year in December, compared to a 10% jump in November and the consensus forecast of a 9.8% rise.

Retail sales in the nation grew 13.6% in December against a year ago, in line with economists' expectations. Sales were up 13.7% in November.

"Chinese data, released over night, was relatively mixed which explains the mild reaction in the markets," said Craig Erlam, analyst at Alpari.

IMF to upgrade world growth forecast

The International Monetary Fund (IMF) is set to upgrade its global growth forecast tomorrow, with the UK leading the way.

The IMF is anticipated to lift its UK GDP growth projection in 2014 from 1.9% to 2.4%.

The news comes after IMF Managing Director Christine Lagarde warned of risks of deflation in the Eurozone.

She said extremely low inflation in rich countries could spark a prolonged period of falling prices.

Core inflation fell to a record low of 0.7% in December, well below the European Central Bank's (ECB) target of 2%, but President Mario Draghi blamed a statistical glitch in Germany.

Elsewhere in Europe, Former Italian Prime Minister Silvio Berlusconi has struck a reform deal with the leader of the centre-left Democratic Party Matteo Renzi.

The deal, under which Berlusconi will back electoral and constitutional proposals aimed at making Italy more governable, sees him return to politics after being thrown out of parliament last year for a tax fraud conviction.

However, the agreement, made Saturday night, has divided the governing coalition with some policymakers concerned they could risk extinction under a new electoral system.

Banks fall, luxury good rally

Banks, insurance companies and financial-services providers posted the biggest losses on the Stoxx 600 while gauge of personal and household-goods companies posted the biggest gain.

Deutsche Bank declined after the German lender reported a pre-tax loss in the fourth quarter due to litigation-relations expenses and costs of a reorganisation.

Hermes International rose after Deutsche Bank upgraded the company to 'hold' from 'sell'.

Peugeot slumped after posted a fall in annual sales of cars and light commercial vehicles.

Air France fell after UBS downgraded the European carrier to 'neutral' from 'buy'.

AB InBev advanced as the world's biggest beer maker agreed to buy back Oriental Brewery from KKR & Co. and Affinity Equity Partners.

Lanxess dropped after Nomura Holdings cut its rating on the speciality chemicals maker to 'reduce' from 'neutral'.

The euro was up 0.19% to $1.3567.

European oil sanctions ease

Today marked the first easing of European Oil related sanctions as a result of a preliminary deal on Iran's nuclear programme negotiated in November.

European companies are expected to enjoy lighter restrictions on the insurance and transportation of Iranian crude. A bar on trade in Iranian petrochemicals with the European Union is also anticipated.

Brent crude futures fell $0.311 to $106.150 per barrel, according to data from the ICE in late afternoon trading.