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Mostrando entradas con la etiqueta Estrategia Investimentos S.A.. Mostrar todas las entradas

lunes, 5 de noviembre de 2012

Jerome Kerviel, The Most Indebted Person In The World, Owes $6.3 Billion To Former Employer, Societe Generale

The Huffington Post


In a hyper-competitive world where everyone strives to be the biggest, boldest and most famous, no one covets Jerome Kerviel record-breaking achievement.

He is the most indebted person in the world.

Thanks to a court ruling in late October, the former junior trader for France's second largest bank, Societe Generale, owes the company a cool $6.3 billion -- an amount so gargantuan it couldn't possibly be repaid.

But considering an appeals court upheld the sentence after Kerviel was accused of orchestrating $73 billion in what the Atlantic politely refers to as "unauthorized trades," it's difficult to maintain a grounded sense of proportion.

Jean Veil, one of the lawyers representing Societe Generale, told the Guardian the bank would take a "realistic" approach to recovering the $6.3 billion from Kerviel, whose sentence also includes three years in prison.

One of Kerviel's lawyers, Olivier Metzner, previously explained to CNN he believes his client has been scapegoated for the financial crimes. He also asserted that the bank knew of Kerviel's actions but turned a blind eye because, though risky, they'd been profitable.

"The banks are the ones to blame for the banking system and the systematic economic crisis, not Jerome Kerviel," he told the station.

According to the Associated Press, the 35-year-old Kerviel never personally profited from any of the trades.


jueves, 1 de noviembre de 2012

Wall Street jumps on strong consumer and jobs data



By Caroline Valetkevitch
NEW YORK (Reuters) - The S&P 500 scored its best day in seven weeks on Thursday as bullish consumer confidence and private-sector jobs data gave investors reason to cheer following superstorm Sandy's devastating sweep through the U.S. Northeast.
Technology and materials sector shares led the advance in a day of mostly average volume. About 6.7 billion shares changed hands on the New York Stock Exchange, Nasdaq and NYSE MKT, compared with the average daily closing volume of 6.5 billion for the year to date. The S&P 500 technology index (.GSPT) rose 1.8 percent, while the PHLX semiconductor index (.SOX) surged 3.3 percent. The S&P materials index (.GSPM) shot up 2 percent.
Volume had been expected to jump after Sandy forced a historic two-day weather-related market closure earlier in the week but traders said participation remained light to normal.
Data from payrolls processor ADP showed U.S. companies added 158,000 workers in October - the fastest pace in eight months. In another encouraging sign, U.S. consumer confidence jumped in October to its highest in more than four years, the Conference Board said.
The numbers showed a slightly more positive picture of the U.S. economy a day ahead of Friday's nonfarm payrolls report, the most widely watched U.S. economic indicator.
"In all, it bodes well for the bull side, and finally gave some investors a catalyst to buy," said Alan Lancz, president of Alan B. Lancz & Associates, an investment advisory firm in Toledo, Ohio.
"Tomorrow will be more of a trump card and can take it all away."
Employers are expected to have added 125,000 jobs to payrolls in October, up from 114,000 in September, according to a Reuters survey of economists. The unemployment rate is forecast to have inched up to 7.9 percent after a dramatic drop of 0.3 percentage point in September.
Pfizer Inc (PFE), which delayed the release of its quarterly results because of the storm, posted revenue that fell far short of expectations, pushing its stock down 1.3 percent to $24.55.
Shares of Exxon Mobil Corp (XOM), which like Pfizer is a Dow component, gained 0.5 percent to $91.60 after the world's largest publicly traded oil company reported a quarterly profit that slipped from a year ago, although it still topped expectations. Exxon's oil and gas output, however, declined more than expected.
Northeast residents and workers were still recovering from the aftermath of Sandy, which killed scores of people in North America and the Caribbean, and wreaked havoc up and down the U.S. eastern seaboard.
The Dow Jones industrial average (^DJI) gained 136.16 points, or 1.04 percent, to 13,232.62 at the close. The Standard & Poor's 500 Index (^GSPC) shot up 15.43 points, or 1.09 percent, to finish at 1,427.59. This was the S&P 500's biggest daily percentage gain since September 13, when the Federal Reserve unveiled its plan for a third round of stimulus or quantitative easing, also known as "QE3."
The Nasdaq Composite Index (^IXIC) jumped 42.83 points, or 1.44 percent, to close at 3,020.06.
After the bell, shares of Starbucks (SBUX.O) rose 6.2 percent to $49.50 after it reported a higher quarterly profit and raised its full-year forecast. The stock closed the day at $46.62.
During the regular session, official and private-sector factory surveys in China that showed the world's second-biggest economy regaining some traction added to support for stocks.
Shares of JDA Software Group (JDAS), a maker of supply-chain management software, soared 17.3 percent to $44.76 after the company agreed to be bought by privately held rival RedPrairie Corp for about $1.9 billion in cash.
Advancers outnumbered decliners on the New York Stock Exchange by a ratio of slightly more than 3 to 1, while on the Nasdaq, about two stocks rose for every one that fell.
(Additional reporting by Rodrigo Campos; Editing by Jan Paschal)

martes, 30 de octubre de 2012

Sandy's death toll climbs; millions without power



NEW YORK (AP) — Millions of people from Maine to the Carolinas waited wearily for the power to come back on Tuesday, and New Yorkers found themselves all but cut off from the modern world as the U.S. death toll from Superstorm Sandy climbed to 40, many of the victims killed by falling trees.
The extent of the damage in New Jersey, where the storm roared ashore Monday night with hurricane-force winds of 80 mph, began coming into focus: homes knocked off their foundations, boardwalks wrecked and amusement pier rides cast into the sea.
"We are in the midst of urban search and rescue. Our teams are moving as fast as they can," Gov. Chris Christie said. "The devastation on the Jersey Shore is some of the worst we've ever seen. The cost of the storm is incalculable at this point."
As the storm steamed inland, still delivering punishing wind and rain, more than 8.2 million people across the East were without power. Airlines canceled more than 15,000 flights around the world, and it could be days before the mess is untangled and passengers can get where they're going.
The storm also disrupted the presidential campaign with just a week to go before Election Day.
President Barack Obama canceled a third straight day of campaigning, scratching events scheduled for Wednesday in swing state Ohio. Republican Mitt Romney resumed his campaign, but with plans to turn a political rally in Ohio into a "storm relief event."
Sandy will end up causing about $20 billion in property damage and $10 billion to $30 billion more in lost business, making it one of the costliest natural disasters on record in the U.S., according to IHS Global Insight, a forecasting firm.
Lower Manhattan, which includes Wall Street, was among the hardest-hit areas after the storm sent a nearly 14-foot surge of seawater, a record, coursing over its seawalls and highways.
Water cascaded into the gaping, unfinished construction pit at the World Trade Center, and the New York Stock Exchange was closed for a second day, the first time that has happened because of weather since the Blizzard of 1888. The NYSE said it will reopen on Wednesday.
A huge fire destroyed as many as 100 houses in a flooded beachfront neighborhood in Queens on Tuesday, forcing firefighters to undertake daring rescues. Three people were injured.
New York University's Tisch Hospital evacuated 200 patients after its backup generator failed. About 20 babies from the neonatal intensive care unit were carried down staircases and were given battery-powered respirators.
A construction crane that collapsed in the high winds on Monday still dangled precariously 74 floors above the streets of midtown Manhattan, and hundreds of people were evacuated as a precaution. And on Staten Island, a tanker ship wound up beached on the shore.
Some bridges into New York reopened, but some tunnels were closed, as were schools, Broadway theaters and the metropolitan area's three main airports, LaGuardia, Kennedy and Newark.
With water standing in two major commuter tunnels and seven subway tunnels under the East River, Mayor Michael Bloomberg said it was unclear when the nation's largest transit system would be rolling again. It shut down Sunday night ahead of the storm.
Joseph Lhota, chairman of the Metropolitan Transportation Authority, said the damage was the worst in the 108-year history of the New York subway.
Similarly, Consolidated Edison said it could take at least a week to restore electricity to the last of the nearly 800,000 customers in and around New York City who lost power.
Millions of more fortunate New Yorkers surveyed the damage as dawn broke, their city brought to an extraordinary standstill.

Info from Yahoo.com

sábado, 27 de octubre de 2012

Android Tablets Gain on iPad



Daily Finance.
Tablets using the Android operating system from Google Inc. (NASDAQ: GOOG) have grabbed 41% of the market on shipments of 25 million units during the third quarter of 2012. The iPad from Apple Inc. (NASDAQ: AAPL)continues to lead with a 57% share in the quarter, but that's down from a 64% share in the third quarter of 2011.
The data comes from Strategy Analytics' latest report on the global tablet operating system market share. The research firm's executive director noted:
No single Android vendor comes close to Apple in volume terms at the moment, but the collective weight of dozens of hardware partners, such as Asus, Samsung, and Nook, is helping Google's Android platform to register a growing presence in tablets.
Yesterday's earnings miss by Apple has been attributed to lower-than-expected sales of the iPad. The company shipped 14 million units in the quarter, but some projections had called for up to 17 million units. Now that the mini is here (and sold out already), then either manufacturing issues could reduce iPad and iPad mini sales or customers lining up to buy the cheaper minis may cause another slip in iPad sales.
And the iPad mini's entry-level price is $329, far above the $200 for a comparable tablet from Amazon.com Inc. (NASDAQ: AMZN), Google or Samsung. That has got to have an impact on shipments, but we will not know until next year how big an impact.
Paul Ausick

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