Month: January 2017

XLE, SVXY: Big ETF Outflows

Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the Energy Select Sector SPDR Fund , where 1,750,000 units were destroyed, or a 0.7% decrease week over week. Among the largest underlying components of XLE, in morning trading today Exxon Mobil is down about 0.6%, and Chevron is lower by about 1.5%.

IEFA, EFU: Big ETF Inflows

Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the iShares Core MSCI EAFE ETF , which added 14,000,000 units, or a 4.5% increase week over week. Among the largest underlying components of IEFA, in morning trading today Teva Pharmaceutical Industries is down about 0.2%, and NXP Semiconductors is lower by about 0.2%.

People on the move: 01/31

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Volkswagen surpasses Toyota in 2016 sales

Toyota has relinquished the title of the world’s biggest automaker, reporting Monday that it sold 10.175 million vehicles worldwide in 2016, fewer than Volkswagen’s 10.31 million. Toyota has relinquished the title of the world’s biggest automaker, reporting Monday that it sold 10.175 million vehicles worldwide in 2016, fewer than Volkswagen’s 10.31 million.

Five Things You Need to Know to Start Your Day

Trump’s executive order confuses, inflation is on the rise in Germany, and it’s a huge week for data. Here are some of the things people in markets are talking about today. President Donald Trump’s executive order setting new barriers for U.S. entry to people from seven mostly Islamic countries led to confusion and condemnation over the weekend. Homeland Security Secretary John Kelly has clarified that green card holders from those countries would not be stopped from returning to the U.S. Despite  widespread protests against the moves, market reaction has been muted, with the dollar little changed by 5:15 a.m. ET.  Inflation in three German states came in above 2 percent this morning.

How a Russian Banker’s $25 Million Bonus Landed Him in Jail

After a London judge told George Urumov he’ll spend the next 12 years in jail for cheating his employer out of almost $150 million, the former trader turned his head to the gallery to try to catch his wife’s eye.  Until two days earlier when Urumov was found guilty of fraud and money laundering and Yulia Balk was acquitted, their lives were intertwined in more ways than most couples bargain for. Parents of a six-year-old child, they both faced charges related to an intricate scheme orchestrated by Urumov and a couple of colleagues to siphon millions of dollars from Otkritie Financial Corp. through fraudulent Argentine bond trades and bonus manipulation.

Vodafone in Talks to Merge India Unit With Idea Cellular

Vodafone Group Plc is in discussions to merge its Indian unit with Idea Cellular Ltd. in a deal that would create the country’s largest cellular carrier and ease a worsening headache for Chief Executive Officer Vittorio Colao. The talks with Idea controlling holder Aditya Birla Group could lead to Vodafone splitting off its Indian business into a separate entity, Vodafone said Monday in a statement.

Week ahead: FCC enters new era under Pai

The Federal Communications Commission will hold an open meeting on Tuesday, its first of the year and the first with Ajit Pai as its chairman. The commission will consider eliminating a regulation that requires commercial broadcasters to keep copies of letters and emails from the public on hand.

Sony takes $1bn charge on movie business

Sony has taken a hefty writedown on the value of its movie business as the unit suffers from falling DVD and home entertainment sales. The Japanese firm, which reports its third-quarter results on Thursday, is still assessing whether the impairment charge will affect future earnings.

Jordan Belfort Says He Knew ‘Wolf of Wall Street’ Producers Were “F – ing Criminals”

The original Wolf of Wall Street claims that “Leo got sucked in” to the corruption scandal now engulfing the hit 2013 film, but says he “knew it, it was obvious.” When The Wolf of Wall Street last year became engulfed in the multi-billion dollar Malaysian corruption scandal, the irony of a film about a major real-life financial fraud allegedly being funded by another wasn’t lost on anyone, least of all its original author.

The Unexpected Drawbacks To Positive Thinking

One psychologist explains why you “can’t expect people to change their mind-sets the way they change their underwear.” What could possibly be bad about “staying hopeful” or wrong about trying to “think positively”? Coaches and experts routinely say that fixing our mind-sets can help us fix most of our problems.

Misys CEO Targets New IPO, Machine Learning and P2P Lending

Despite presiding over the largest U.K. initial public offering to be pulled last year, the chief executive officer of Misys Group Ltd. is keen for the company to return to the public market. Misys CEO Nadeem Syed said in an interview that he still hoped to list the company, however he declined to comment on potential timing.

Toyota Loses Top Global Automaker Crown Amid Trump Pressures on Trade

Toyota Motor has lost its position as the top global seller of cars to rival Volkswagen , but such figures may now be the least of its worries for Japan’s biggest company as it mulls whether to appease or defy U.S. President Donald Trump’s protectionist trade policy. The maker of the Prius and Corolla models said Monday its global vehicle sales rose 0.2% year on year to 10.175 million units.

California looks to build $7 billion legal pot economy

The future of California’s legal marijuana industry is being shaped in a warren of cubicles tucked inside a retired basketball arena, where a garden of paper cannabis leaves sprouts on file cabinets and a burlap sack advertising “USA Home Grown” dangles from a wall. Here, in the outskirts of Sacramento, a handful of government workers face a daunting task: By next year, craft regulations and rules that will govern the state’s emerging legal pot market, from where and how plants can be grown to setting guidelines to track the buds from fields to stores.

Starbucks CEO Schultz Plans to Hire 10,000 Refugees After Trump Ban

Starbucks Chief Executive Officer Howard Schultz said on Sunday that the company planned to hire 10,000 refugees over five years in 75 countries, two days after U.S. President Donald Trump’s executive order banning refugees from certain countries. Trump on Friday put a four-month hold on allowing refugees into the United States and temporarily barred travelers from Syria and six other Muslim-majority countries, saying the moves would help protect Americans from terrorist attacks.

Rpt: Snapchat to Reveal Financials Within a Week

Snap, the secretive technology company that owns the popular messaging service Snapchat, is due to reveal its financials within a week as it moves toward its eagerly awaited initial public offering , sources familiar with the situation said on Friday. The Venice, California-based company will publish the registration document it secretly filed with U.S regulators last autumn, containing a dossier of tightly held finances and its plans for operating as a public company.

European Stocks Called Lower as Global Markets React to Trump’s Immigration Orders

European stocks are expected to open lower Monday, following a softer session in Asia, as investors take a defensive stance in the wake of President Donald Trump’s controversial immigration policy. European stocks are expected to open lower Monday, following a softer session in Asia where many of the major markets were closed for New Year celebrations, as investors take a defensive stance in the wake of President Donald Trump’s controversial immigration policy.

Delta’s U.S. Grounding Is Lifted After Latest Computer Glitch

Delta Air Lines Inc. started resuming U.S. domestic flights after a 2 1/2-hour computer breakdown grounded about 150 flights and left passengers stranded across the country. “I want to apologize to all of our customers who have been impacted by this frustrating situation,” Delta Chief Executive Officer Ed Bastian said in the statement.

How Smart Money Can Survive the Trump Era, as Seen From Sweden

Michael Livijn, who as Nordea Bank AB’s chief investment strategist makes recommendations that guide about $100 billion, says don’t expect a bloodbath if elections in Europe this year unleash a populist wave like the one that propelled Donald Trump into the White House. That’s because crisis fatigue has led to increasingly rapid market corrections.

Toyota Loses Sales Crown to VW as U.S. Trade Barriers Loom

Toyota Motor Corp. lost its title as the world’s best-selling automaker to Volkswagen AG, snapping the Japanese company’s four-year reign, as demand for its flagship Camry sedan waned in the U.S. and sales in China expanded at a slower pace than the overall market. Toyota’s global sales, including its Hino Motors Ltd. and Daihatsu Motor Co.