(Bloomberg) Asian stocks dropped for a sixth day
as the yen held two days of gains, curbing the earnings outlook
for Japanese exporters. Trading is due to resume in Hong Kong
following a two-day holiday.
The MSCI Asia Pacific Index (MXAP) declined 0.1 percent to 138.35
as of 9:00 a.m. in Tokyo, before markets open in Hong Kong. The
gauge is down 2.6 percent this week, on course for the biggest
weekly drop in six months. The measure has retreated 7.4 percent
from a six-year high in July.
LOS
ANGELES (MarketWatch) -- Here are the latest trading levels for Asia's
major stock markets: Tokyo (Nikkei Average) down 0.1% ; Hong Kong (Hang
Seng Index) down 0.8% ; Shanghai (Shanghai Composite Index) closed ;
Sydney (S&P/ASX 200) up 0.3% ; Seoul (Kospi) closed ; Mumbai
(Sensex) closed Taipei (Taiex) up 1.5%L
SYDNEY (Reuters) - Asian stocks
were poised for their fourth-straight weekly fall on Friday, with the
regional index drifting in an aimless morning session as the civil
unrest in Hong Kong and caution ahead of a closely-watched U.S. jobs
report kept investors on edge.
Already
disappointed by the European Central Bank, which gave no new hints of
an imminent sovereign bond buying program, markets were further
underwhelmed by a survey showing growth in China's services sector eased
last month.
MSCI's broadest
index of Asia-Pacific shares outside Japan eased 0.06 percent, on track
for a fourth straight week of declines. It has fallen more than 8
percent in the last four weeks, marking its worst performance in over a
year.
Tokyo's Nikkei slipped
0.19 percent, Australia's S&P/ASX 200 index was a touch firmer,
while Hong Kong stocks fell 1.36 percent. Markets in South Korea, India
and China are closed for public holidays.
Here are some shots that demonstrate vividly Venezuela's inflation problems.
Venezuela’s surreal prices
By Carlos Garcia Rawlins
Finding images to accompany economic stories has always been a
challenge. There’s a temptation to be repetitive and you sometimes end
up illustrating, yet not informing properly. I wanted to do something
more significant this time to really capture Venezuela’s economic crisis
and the way it is hitting people’s pockets. I’ve been covering – and,
as a Venezuelan, living! – this subject for a long time but I’m weary of
the typical photo of an old lady spending her few resources on food at a
supermarket.
So this time I wanted to create images that would really make people
sit up and see the story at a glance – namely the crazily high prices
for simple everyday products. The idea was straightforward: photograph
an item with a price tag showing its equivalent in U.S. dollars and
emphasizing that further by pasting up the notes. Executing it, though,
proved complicated.
If you're a Bank of America shareholder you might want to start getting upset.
The big bank just chose its CEO, Brian Moynihan, to also be chairman, probably not the best idea for shareholders.
Moynihan's election to board chairman makes Citigroup the only large U.S. bank to have separate chairman and chief executive roles.
Bank of America has just delivered good governance a solid kick in the
teeth. The mega-bank announced late Wednesday that its directors have
voted to add the chairmanship to Brian Moynihan’s duties as chief
executive. The move not only puts too much power in one person’s hands,
it also reduces the position to little more than a perk to be granted or
taken away, depending on performance.
http://blogs.reuters.com/breakingviews/2014/10/02/bofa-delivers-good-governance-a-kick-in-the-teeth/
Some common traits of billionaires.
Billionaires invest a lot in real estate, at about $160 million per person. They tend to have four properties — it supports "the billionaire lifestyle," the report says.
• Billionaires tend to have "non-real estate luxury assets."
They sound really fun. " For example, one in 30 billionaires owns a
sports team or a racehorse," the report says. "Other significant luxury
assets include yachts, planes, cars, and art."
• Billionaires are into matrimony. 65% of them are married.
• Billionaires love the Ivy League.
While billionaires went to over 700 different universities, the Ivies
have the most grads: 25 went to the University of Pennsylvania, 22 went
to Harvard, and 20 went to Yale.
• But a surprising number of billionaires don't have a college degree. 35% never finished undergrad.
• Billionaires tend to work in finance. Almost 20% of billionaires made their careers on Wall Street or its equivalents.
