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Mar 20, 2014

Bloomberg | The Market Now March 20, 2014: Looking for Putin's Secret Wealth? It'll Be a Long Search.

The news that drives the U.S. and global markets.
March 20, 2014For more, visit >>
Looking for Putin's Secret Wealth? It'll Be a Long Search
by Mark Gimein

Yesterday, after JPMorgan Chase & Co. sold its commodities trading unit, The Market Now covered some of the ways that the profitable commodities business carries reputational risk. Well, today add one more: It raises questions about what kinds of relationships you have with invasion-prone autocrats.
The U.S. Treasury Department today imposed sanctions on Russian billionaire Gennady Timchenko, the co-founder of the oil trading company Gunvor Group Ltd.  The U.S. charged that Gunvor was directly tied to Vladimir Putin, claiming that, "Putin has investments in Gunvor and may have access to Gunvor funds."

Gunvor, one of the world's biggest commodities traders and a dominant player in the Russian oil market, shot back within hours with some stunning news. It said that Putin held no stake in the company, and in fact - this is the surprising part - that Timchenko himself had sold his share, leaving the company 87 percent owned by Swedish billionaire Torbjörn Törnqvist. That probably settles the question of whether Putin owns part of Gunvor now (he doesn't), but may still leave folks with a question about whether he may have had an investment in the company before today, as the U.S. asserts.
Despite the Treasury department's charges, the evidence for a direct ownership stake by Putin is thin. Gunvor has certainly prospered since Putin has been in power, and Timchenko has indeed known Putin for a long time. But claims that Putin himself has owned part of Gunvor have been around for a long time, and so far no one has presented direct evidence of that. ...

Airbnb Said to Be Raising Funding From TPG at $10 Billion ValueAirbnb Inc. is raising money from investors including TPG Capital in a financing round that would value the room-sharing service at more than $10 billion, said people with knowledge of the deal. Read the full storyairbnb-gebbia
SEC Said to Examine Hidden Electronic Bond Trading PricesThe practice of dealers showing clients different prices for the same securities on electronic bond-trading platforms is drawing the scrutiny of the U.S. Securities and Exchange Commission, which is concerned that smaller investors are being penalized. Read the full storysec-bldg
Time Warner Cable CEO Due $80 Million if Comcast Deal Ends Short TenureJust months into his job as head of Time Warner Cable Inc. (TWC), Rob Marcus is in position to receive a severance payment of $79.9 million in cash, equity and benefits because he's selling the company to Comcast Corp. (CMCSA) Read the full storyrob-marcus
In Alibaba Contest, Barclays Bet on the Wrong MogulBarclays Plc lost the chance to be among firms sharing hundreds of millions of dollars in fees from Alibaba Group Holding Ltd.'s initial public offering when it advised and financed Charlie Ergen's failed effort to buy Sprint Corp. last year, several people with knowledge of the matter said. Read the full story00alibaba
Read more news at >>
Shooting the Messenger Twitter Blocked in Turkey After 'Sons of Thieves' Leaks
THE MARKET NOW is brought to you from the desk of:


Mark Gimein
Companies and Markets Editor,
Twitter: @markgimein

VOA Video March 20, 2014: Kerry Says US Preparing Additional Sanctions for Russia..

Kerry Says US Preparing Additional Sanctions for Russia...

RT America - March 20, 2014 : Sen. Feinstein accuses CIA of hacking Senate computers.

Sen. Feinstein accuses CIA of hacking Senate computers

Published on Mar 20, 2014
Sen. Dianne Feinstein (D-Calif.) says the CIA may have hacked into Senate computers and removed documents, altering the course of the Senate Intelligence Committee's investigation into the agencies use of harsh interrogation techniques. The highly controversial report and the subsequent CIA-Senate scandal raises questions about the effectiveness of the CIA's techniques. RT's Gayane Chichakyan speaks with author Larry Siems about his new book on the report and its implications.

Tumbling Chinese yuan sets off 'carry trade' rout, triggers derivatives contracts.: GATA | THE GATA DISPATCH March

Tumbling Chinese yuan sets off 'carry trade' rout, triggers derivatives contracts

Submitted by cpowell on 07:07PM ET Thursday, March 20, 2014. Section: Daily Dispatches
By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, March 20, 2014
China's yuan has suffered its biggest one-week fall in 20 years, nearing key trigger levels that threaten a wave of forced selling and mounting stress for those with dollar debts.
The jitters come amid reports of fire sales of Hong Kong property by Chinese investors desperate to raise cash, some slashing their prices by 20 percent for a quick sale. A liquidity squeeze in mainland China has already led to the collapse of Zhejiang Xingrun real estate this week with $570 million of debts, the biggest property failure so far.
The yuan weakened sharply on Thursday to 6.23 against the dollar and has now lost 3 percent since January, a clear break with China's longstanding policy of slow appreciation.
Geoffrey Kendrick, from Morgan Stanley, said the currency has broken through the 6.20 level, where a cluster of structured products are triggered. These are known as losses on target redemption funds. The losses have already hit $3.5 billion. ...
... For the full story:

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WSJ | Most Actives Closing - March 20, 2014.

Most Actives Closing
Most Active Stocks by Volume
4:47 pm ET 03/20/2014
Bank of America (BAC)162,900,137$17.920.482.75
AT&T (T)62,224,12134.091.133.43
Petroleo Brasileiro ADS (PBR)41,720,08511.570.676.15
General Electric (GE)35,343,00725.27-0.01-0.04
Citigroup (C)32,782,88450.221.282.62
JPMorgan Chase (JPM)32,651,10160.111.813.10
Verizon Communications (VZ)30,909,82447.210.851.83
Petroleo Brasileiro ADS A (PBRA)30,674,99811.970.615.37
Nokia ADS (NOK)29,783,6387.44-0.10-1.33
Walter Energy (WLT)27,616,1677.27-1.82-20.02
Wells Fargo (WFC)24,656,08849.031.222.55
Hewlett-Packard (HPQ)23,797,01831.48-0.14-0.44
Advanced Micro Devices (AMD)23,483,6584.050.071.76
Pfizer (PFE)22,428,20731.910.200.63
KeyCorp (KEY)21,694,12814.430.231.62
Regions Financial (RF)21,040,69011.300.211.89
Ford Motor (F)20,881,02615.550.070.45
Morgan Stanley (MS)19,952,52032.790.983.08
Oracle (ORCL)18,699,10538.37-0.18-0.47
Vale ADS (VALE)17,966,11412.810.171.34
Sprint (S)17,577,0319.100.384.36
Alcoa (AA)17,100,69611.910.070.59
Genco Shipping&Trading (GNK)16,534,1101.24-0.37-22.98
Itau Unibanco Holding ADS (ITUB)16,216,05713.420.463.55
Annaly Capital Management (NLY)15,334,27511.170.020.18
Microsoft (MSFT)56,942,555$40.331.062.70
Facebook Cl A (FB)44,151,80966.97-1.27-1.86
Sirius XM Holdings (SIRI)42,958,1753.36-0.04-1.03
Intel (INTC)36,486,96225.430.411.62
Cisco Systems (CSCO)34,591,44021.830.200.92
PowerShares QQQ Trust Series 1 (QQQ)29,545,42990.290.250.28
Applied Materials (AMAT)27,260,70220.190.723.70
Zynga (ZNGA)26,512,7005.08-0.06-1.17
Frontier Communications (FTR)24,450,0525.370.142.68
FuelCell Energy (FCEL)24,122,6672.41-0.23-8.71
Groupon (GRPN)22,484,7428.400.202.44
First Solar (FSLR)21,706,66870.481.081.56
Yahoo! (YHOO)19,224,85937.77-0.84-2.18
Micron Technology (MU)18,434,19224.010.030.13
BlackBerry (BBRY)15,721,8099.42-0.13-1.36
Comcast Cl A (CMCSA)15,137,94250.600.721.45
Huntington Bancshares (HBAN)13,338,83010.010.212.14
Gilead Sciences (GILD)12,040,45475.53-1.01-1.33
21st Century Fox Cl A (FOXA)12,023,85132.75-0.25-0.76
ON Semiconductor (ONNN)11,327,8689.45-0.08-0.84
LSI (LSI)11,072,06311.05-0.02-0.23
American Capital Agency (AGNC)9,444,69021.95-0.12-0.54
Qualcomm (QCOM)9,386,75678.101.291.69
VelocityShares Daily Inverse VIX Short Term ETN (XIV)9,284,12130.400.140.46
Ballard Power Systems (BLDP)9,175,6924.32-0.34-7.30
SPDR S&P 500 ETF Trust (SPY)106,093,071$187.751.090.58
Select Sector SPDR-Financial (XLF)89,118,63822.480.351.58
iShares MSCI Japan ETF (EWJ)64,367,16210.93-0.16-1.44
iShares MSCI Emerging Markets ETF (EEM)56,522,44338.740.170.44
iShares Russell 2000 ETF (IWM)32,213,056119.160.160.13
Market Vectors ETF Trust Market Vectors Gold Miners (GDX)30,295,14625.470.030.12
iShares MSCI Brazil Capped ETF (EWZ)27,412,30141.480.952.34
Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX)25,411,01743.98-0.27-0.61
iShares China Large-Cap ETF (FXI)24,601,48233.00-0.10-0.30
Vanguard FTSE Emerging Markets ETF (VWO)18,676,98738.420.180.47
iShares MSCI EAFE ETF (EFA)18,486,39065.29-0.25-0.38
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)15,244,8383.740.195.28
iShares U.S. Real Estate ETF (IYR)14,844,60667.400.090.13
Market Vectors Russia ETF Trust SBI (RSX)13,946,24522.09-0.59-2.60
Direxion Daily Small Cap Bear 3x Shares (TZA)12,946,75514.74-0.05-0.34
Select Sector SPDR-Utilities (XLU)12,322,28740.540.090.22
Select Sector SPDR-Industrial (XLI)11,096,77651.870.150.29
ProShares UltraShort S&P500 (SDS)9,922,06028.41-0.34-1.18
Select Sector SPDR-Consumer Staples (XLP)9,907,10342.740.150.35
Direxion Daily Financial Bear 3x Shares (FAZ)8,693,03919.28-0.82-4.08
Select Sector SPDR-Energy (XLE)8,625,91287.250.340.39
iShares Silver Trust (SLV)8,465,35519.52-0.27-1.36
SPDR Gold Trust (GLD)7,645,481127.86-0.23-0.18
SPDR S&P Homebuilders ETF (XHB)6,854,22432.88-0.38-1.14
iShares MSCI Taiwan ETF (EWT)6,679,38513.89-0.09-0.64
Bank of America (BAC)162,900,137$17.920.482.75
IsoRay (ISR)111,737,1803.300.7529.41
SPDR S&P 500 ETF Trust (SPY)106,151,731187.751.090.58
Select Sector SPDR-Financial (XLF)89,118,64022.480.351.58
iShares MSCI Japan ETF (EWJ)64,367,16910.93-0.16-1.44
AT&T (T)62,224,12134.091.133.43
Microsoft (MSFT)56,942,55540.331.062.70
iShares MSCI Emerging Markets ETF (EEM)56,522,57438.740.170.44
Facebook Cl A (FB)44,151,80966.97-1.27-1.86
Sirius XM Holdings (SIRI)42,958,1753.36-0.04-1.03
Petroleo Brasileiro ADS (PBR)41,720,08511.570.676.15
Intel (INTC)36,486,96225.430.411.62
General Electric (GE)35,343,00725.27-0.01-0.04
Cisco Systems (CSCO)34,591,44021.830.200.92
Citigroup (C)32,782,88450.221.282.62
JPMorgan Chase (JPM)32,651,10160.111.813.10
iShares Russell 2000 ETF (IWM)32,213,071119.160.160.13
Verizon Communications (VZ)30,909,82447.210.851.83
Petroleo Brasileiro ADS A (PBRA)30,674,99811.970.615.37
Market Vectors ETF Trust Market Vectors Gold Miners (GDX)30,295,14625.470.030.12
Nokia ADS (NOK)29,783,6387.44-0.10-1.33
PowerShares QQQ Trust Series 1 (QQQ)29,545,42990.290.250.28
Walter Energy (WLT)27,616,1677.27-1.82-20.02
Plug Power (PLUG)27,613,3535.97-0.24-3.86
iShares MSCI Brazil Capped ETF (EWZ)27,412,30141.480.952.34
See All Most Actives
Includes common, closed end funds, ETFs, ETNs and REITS
x - stock is trading ex-dividend
Source: WSJ Market Data Group