Provided by Business Insider, Friday, February 18, 2011:
Good Morning. Here's what you need to know:
•Asian indices were mixed in overnight trading with the Shanghai Composite down 0.92% and the Nikkei up 0.06%. Major European indices are down and U.S. futures are slightly down.
•People's Bank of China increased its reserve-requirement ratio by 0.5%, the second increase this year. Click here to see 17 facts about China that will blow your mind.
•Moodys has downgraded the ratings of German banks' subordinated debt securities valued at $33 billion over concerns that new legislation will reduce government support for the securities and increase the risk of losses among debt holders.
•Ford Motor Co. is teaming up with Russian automobile company Sollers to make and distribute cars in Russia. Both companies will have equal stakes in the joint venture called Ford Sollers and expect to begin operations by the year's end.
•SunPower announced 4Q earnings of $152.25 million. The company's shares were up in after hours trading. Check out a a former BP exec's guide to peak oil.
•Investors have put in bids for $22 billion worth of contingent capital bonds (cococs) issued by Credit Suisse, 11 times the $2 billion that was on offer by the bank. These function as stocks at a stipulated level of financial stress giving banks a credit boost when they're struggling. Barclays is now considering issuing the bonds as well.
•The SEC is investigating mutual funds that it believes overstated the value of risky municipal bonds.
•The White House will announce Intel CEO Paul Otellini to the President's Council on Jobs and Competitiveness today.
•The finance ministers of G20 nations are meeting in Paris today to delineate global economic imbalances. Japan doesn't expect to reach an agreement while the Germans insist on establishing a full list of indicators.
•Unrest continues in the Middle-East with Bahrain's military taking control of the capital. 5 have now been killed and 230 injured during protests. In Libya security forces opened fire on protestors killing 24. See here for a simple explanation of why the Mideast is doomed to crisis after crisis.
•SILVER is having another huge morning.
•BONUS - Amanda Seyfried and Ryan Phillippe have split up after 3 months of dating.
When a Chinese public official accepts a gift of money from any one except his mama, it's called corruption.
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Government don't have to prove why the money was given or what it was supposed to buy. Just by accepting the money, the government official has corrupted himself, and forfeted his life.
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China executes more public officials every year, than the entire rest of the world combined.
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That is why China has the best government in the world, and why the Chinese people love and support their government.
Talking about corruption.
When the lobby groups contribute towards political parties, it is in the name of democracy (why even it is democracy? it is a mistery).
When the Chinese party receives contributions, it is corruption.
Did someone try to say China has a small government footprint. They might not have social programs but their government runs half of the businesses in China. China is a bubble just waiting to burst. Their governors build empty cities to meet their growth numbers. Enron accounting basically.
welcome
David ... Noo, I'm not joking. The level of manipulation and mal-investment in the USA is just as bad. You choose to look at China as the evil one, and you forget how much the USA is involved. You are witnessing what happens when your government sells out its workers with crap trade agreements... Don't blame China for taking advantage of the situation ... You should have stayed awake in school. You would have learned something.
TEN THINGS THAT WILL TRAP YOU, ROMANS 2:6-15, ><<> THEN ROMANS 2:16 WHEN YOU HEBREWS 9:27 @ REVELATION 20:11-15.
Nothing about the leader of Amerika's Unions Barrack Obama. Is it a conflict of interest to be the Chief Executive and the Union Leader?
Thanks for the heads up on the "Amanda Seyfried and Ryan Phillippe" thingy. Will that shake up the markets much, you think?
amy and ryan say it is not so. @#$%.
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