How the world sees Greece
… throws petals to welcome the Greek Orthodox Patriarch of Jerusalem Metropolitan … . The restoration, entrusted to a Greek team, is expected to be … of the Holy Sepulchre -- Greek Orthodox, Franciscans and Armenians -- …
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Lambros Anathassoulas will bid to repeat his FIA European Rally Championship podium from the 2015 SEAJETS Acropolis Rally on next weekend’s event after finding a replacement co-driver. 10 ATHANASSOULAS Lambros ZAKCHEOS Nikolaos SKODA Fabia R5 Ambiance ...
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[United States USA American Fan Flag] Friday's 0.5% decline in the S&P 500 wasn't enough to drop it into negative territory for April. The benchmark average finished the month up 0.3% at 2065.30 as it recorded its third straight monthly gain. Despite its three-month winning streak, the S&P 500 has gone nowhere since the start of 2015. The upcoming week will be a busy one. A steady stream of economic data is highlighted by Friday's release of the April jobs report. "In fact, we expect the coming payroll report to remain consistent with this theme of continued domestic resilience," says Tom Porcelli of RBC Markets. "The lack of stresses in the employment backdrop (stemming from the firing side) and the fact that job openings remain quite elevated suggests a very good pipeline for job growth near-term." The data-heavy week will give us an updated look at the health of the US economy, and could be an indication as to whether the next Fed rate could come in June, as many economists are expecting. TOP STORIES * EARNINGS REPORTS WERE THE BIG STORY OF THE WEEK. Things got started off on the wrong foot on Tuesday as Apple, the largest company by market cap in the US, reported its first year-over-year revenue decline since 2003. The tech giant said iPhone sales tumbled 16% to 51.2 million, and gave a downbeat revenue guidance of $41 billion to $43 billion versus expectations of $47.35 billion. "The smartphone market, as you know, is currently not growing," CEO Tim Cook said. "However, my view of that is it's an overhang of the macroeconomic environment in many places in the world, and we're very optimistic that this too shall pass." The bad news on the earnings front was compounded on Tuesday as Twitter reported revenue climbed 36% to $595 million, but that was below the $607.8 million that analysts were anticipating. Additionally, the company's revenue guidance of $590 million to $610 million was well shy of the $677.6 million that was expected. However, things took a turn for the better on Wednesday as social media giant Facebook crushed estimates. The company earned $0.77 per share on revenue of $5.38 billion. Both numbers were well ahead of analyst expectations. Monthly active users came in at 1.65 billion and monthly mobile active users totaled 1.51 billion. Facebook announced it would be offering a new C class of shares that wouldn't have voting rights. The good news kept coming on Thursday as Amazon announced Q1 net profit of $513 million, its largest in history. The online marketplace earned $1.07 a share as revenue jumped 27% YoY to $29.1 billion. Both numbers were well ahead of expectations. * THE US ECONOMY GREW AT ITS WEAKEST PACE IN MORE THAN TWO YEARS. The advance estimate of Q1 GDP showed the US economy grew at an annualized pace of 0.5%, missing analyst expectations of 0.7% growth. Lower oil prices weighed on energy and mining activity, and a buildup in inventories took away from growth. "The negatives of this drop in oil prices in terms of corporate earnings and capital investing is very much an upfront hit," Steve Wood, chief market strategist for North America at Russell Investments, told Business Insider. "But the benefits from spending, disposable income — it takes a longer time to roll out and to feel those benefits." The bright spot in the report was personal consumption, which makes up over two-thirds of output. It rose by 1.9% in the quarter, versus expectations of a slowdown to 1.7%. * THE FED AND THE BANK OF JAPAN KEPT POLICY ON HOLD. As expected, the Federal Open Market Committee held its fed funds rate at a range of 0.25% to 0.50% at Wednesday's meeting. The accompanying statement saw the Committee remove its language indicating global markets pose a risk to the US economy. That caused some economists to ratchet up their expectations the Fed will raise rates at its June meeting. However, as of end of day Friday, the market sees just a 12.0% chance of that happening. Currently, December is the first month with a better than 50% chance for a rate hike. It has a 57.9% probability. While it was highly anticipated the Fed would remain on hold, most economists were shocked that the Bank of Japan decided to stand pat instead of introducing more easing. In an 8-to-1 vote, the BOJ held its asset-purchase program at an annual rate of about 80 trillion yen. Additionally, the BOJ kept its benchmark interest rate at -0.10% and cut both its growth and inflation forecasts for the next couple of years. The bank now expects CPI to hit its 2% target at some point during fiscal-year 2017. Previously it had forecast the 2% target would be reached during the first half of the fiscal year. ECONOMIC CALENDAR * Markit US Manufacturing PMI (Mon.) Economists expect the final reading to remain unchanged at 50.8 in April. Such a number would be an indication that the manufacturing sector of the US economy continued its modest expansion. * ISM Manufacturing (Mon.) The April reading is expected to show a slight downtick in the pace of expansion in the US manufacturing sector. Economists surveyed by Bloomberg expect the reading to slip to 51.4 from the March print of 51.8. Anything above 50.0 suggests the sector is expanding. * Construction Spending (Mon.) Construction spending is expected to have increased in March after sliding 0.5% in February. Economists forecast a 0.5% rise in the amount of money builders spent on construction projects. * US Auto Sales, April (Tues.) All day Tuesday, carmakers will report sales for April. Expectations are that the pace of sales accelerated to an annualized rate of 17.30 million in April after March's 16.46 million pace. March's reading was the worst in the past year. * ADP Employment Change (Wed.) The April report on private payroll growth from ADP should show that private employers added 195,000 jobs during the month, according to the Bloomberg consensus. This number would be down from 200,000 in March, but still indicate a solid pace of job growth in the economy. * Markit US Services PMI (Wed.) The final reading on activity in the services sector in February out of Markit Economics is set for release on Wednesday. The reading is expected to hold at 52.1, showing the services sector is expanding modestly. * ISM Non-Manufacturing (Wed.) The report on non-manufacturing activity from the Institute for Supply Management is likely to show continued expansion in the services sector of the US economy. April's reading should come in at 54.7, an improvement from the 54.5 recorded in March. Such a reading would suggest the non-manufacturing portion of the economy is expanding at its fastest pace since January. * Factory Orders (Wed.) Factory orders are expected to rise 0.6% in March, a bounce-back from the 1.7% decline in orders seen in February * Initial Jobless Claims (Thurs.) The latest weekly report on initial filings for unemployment insurance should show claims totaled 260,000 last week, up from the prior week's 257,000. Initial jobless claims remain near their lowest levels since 1973. * Jobs Report (Fri.) Economists expect the US economy added 200,000 jobs in April, down from the 215,000 added in March but another month in which the US labor market points to a strengthening US economy. The unemployment rate is expected to hold steady at 5.0%, after ticking off the post-crisis low of 4.9% that was recorded in March. Average hourly earnings should rise 0.3% over the prior month and 2.4% over last year. * Consumer Credit Balances (Fri.) Economists estimate consumer credit balances increased by $16.00 billion in March. MARKET COMMENTARY With 62% of S&P 500 companies having reported their Q1 results, things aren't looking so hot. While it's true that 74% of S&P 500 companies have topped analyst earnings estimates, they have done so versus watered down expectations. "For Q1 2016, the blended earnings decline is -7.6%, notes FactSet VP, Senior Earnings Analyst John Butters. "If the index reports a decline in earnings for Q1, it will mark the first time the index has seen four consecutive quarters of year-over-year declines in earnings since Q4 2008 through Q3 2009." And while companies' bottom lines are looking alright against lowered expectations, it's the top line that has some worried. 55% of S&P 500 companies have outpaced revenue estimates, slightly below the five-year average of 56%. According to FactSet data, blended revenue is on track to fall 1.3% during Q1 2016, which would be the lowest since it began keeping track in Q3 2008. Of the companies that have reported so far, there have been two major themes, Butters says. * THE STRONG US DOLLAR. This has been an ongoing theme over the past few quarters, Butters says. He notes companies may start to see a tailwind from the greenback as it has begun to weaken against numerous currencies. * LOWER OIL AND GAS PRICES. According to Butters, "During the first quarter, the price of crude oil increased by 3.5% (to $38.34 from $37.04). Despite this increase, the average price of oil for Q1 2016 ($33.69) was more than 30% lower than the average price in the year-ago quarter ($48.79)." Of course while this was bad news for companies in the energy industry it benefited many others. According to FactSet, 124 S&P 500 companies are scheduled to release their quarterly results next week. Here's a look at where the surprises are coming from so far. [Surprises] Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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Scholars at UCSB's global studies department contend that the European Union and Turkey migration deal addressing the refugee crisis in GREECE is ...
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Arcadia principal Lesley Flick has died Lesley Flick, the principal at Greece Arcadia High School, has died at age 50. Check out this story on DemocratandChronicle.com: http://on.rocne.ws/1TDUmyB
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Independent non-government sources that are privy to the negotiations between GREECE and its creditors have confirmed that there has been ...
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Police are looking for Kurt Freese, 45, from the town of GREECE. They say he has been missing since he left work Friday night. Police say Freese ...
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“We are leaving the hard times behind and looking ahead with optimism to a better future for GREECE and its people,” said Tsipras during a visit to the ...
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GREEK Easter, better known as Pascha, is the most important holiday in the Orthodox community. The Lenten season leading up to Pascha is deeply ...
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GREEK National Tourism Organisation (EOT) decided to promote the country's tourism industry by earmarking €2m for promotional campaigns via ...
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The Chairman of the Eurogroup Jeroen Dijsselbloem stressed that significant progress was achieved at the recent Ecofin in Amsterdam, with GREECE ...
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… the amazing Aspire system to Greece & Cyprus. The system shows … to help mentor people from Greece & Cyprus to become . His … better way than going to Greece the country where his parents … deep desire to help the Greek and Cypriot people since the …
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Easter With Hot-Air Balloons_Agios Several regions in Greece adopt the tradition of hot-air balloons for Easter – a tradition that turn the night into a ...
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Junk bonds are living up to their name right now. As we have noted in the past, the lowest-rated junk bonds may have inflated a $1 trillion bubble at the bottom of the debt market. The thing is, it never should have gotten that way. Kathy Jones, the chief fixed-income strategist at Charles Schwab, said today's level of low-rated debt issuance (CCC-rated and below) would never have happened in the past. Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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We Greek Orthodox find ourselves baptized into the faith when we are too young even to understand what is going on. As we grow into children and teenagers, our parents teach us many of the rituals associated with the faith, such as: dressing up nicely to go to church on Sunday; making the sign of […]
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Patriarch Theophilos of Jerusalem also handed the flame to delegations who took it to Orthodox churches around the world. A Greek delegation, led by Deputy Foreign Minister Yiannis Amanatidis, took it to Athens Saturday, and from there to more than a dozen ...
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ATHENS, May 1 (Xinhua) -- GREEKS celebrated the Orthodox Christian Easter on Sunday exchanging wishes for better days to come for the country ...
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If I look to the left my eyes land in Albania, if I look to the front my eyes land in Macedonia, and if I look at my feet my eyes land in Greece. I am in fact in the far north-western nook of Greece on the shore of tri-national Megali (Great) Prespa Lake ...
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… . Thousands have been stuck in Greece, many camping in appalling conditions … them into the country from Greece because they felt pity for … squalid camp at Idomeni, on Greece's northern border, through …
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… as the Ionian islands of Greece or the Palestinian territories, there … Eidomeni refugee camp on the Greek-Macedonian border had been formally received … in a part of northern Greece where, in the 1920s, people …
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The volcanic isle of Milos in the Cyclades has one of the most spectacular coastlines of any Greek island, with fabulous coves, remote bays, sea stacks and arches, all carved out of multi-hued rock. One of the very best ways to explore all this is by sea ...
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The US government has a lot of debt, about $19 trillion of it. That's a huge, intimidating number on the face of it, but according to Scott Brown of Raymond James, it's also not a serious issue. "Just when you thought all the fear-mongering had subsided, the national debt has resurfaced as a topic in this year's presidential race," Brown said Monday in a note to clients. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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For many Greeks, the whole lamb or goat roasted on a spit is the centerpiece of the Easter feast. Since ancient times, feasting on roasted meats was reserved for special occasions, since the Ancient Greeks thought it unlucky to eat meat that wasn’t blessed and a portion, usually the least appetizing to humans, sacrificed to […]
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ATHENS— With “Holy Fire,” fireworks and solemn Masses, Orthodox Christians around the world celebrated Easter on Sunday, commemorating the day followers believe that Jesus was resurrected more than 2,000 years ago. Roman Catholics and Protestants marked Easter in March, in accordance with the Gregorian calendar. Eastern Orthodox churches celebrated Easter this week, using the older […]
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He recalled moving a bear several years ago from GREECE in Monroe County to Naples, about 55 miles. “The bear was back in five days,” he said.
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The GREECE Arcadia community is in mourning following the death of High School Principal Lesley Flick. Flick was with the district for 17 years.
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Petro and Maryna Poroshenko also visited the GREEK-Catholic Church of St. Nicholas (Mykolai), and a church in Kyiv Pechersk Lavra belonging to the ...
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The owner of the Christakis GREEK Restaurant on Smithdown Road is complaining about roadworks that are affecting his business. Owners Christakis ...
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A unique online quiz game on Greek nature is now available on the internet. The game “Around the World in 80 questions,” was created by the environmental organization WWF, and constitutes a fun way to explore Greece through unexpected questions like “Where is the Greek Canada located ?,” “How can you recognize the jackal’s howl
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The visit to the Greek island was intended to prick Europe’s conscience over its refugee policy.
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“Our guests haven't been shy when it comes to trying our new pitas — The Athenian and Purple GREEK — both are examples of how we're marrying ...
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… , Calif., Greek Theatre At UC Berkeley Aug. 30 – Berkeley, Calif., Greek Theatre …
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[A woman crosses herself after lighting a candle during Easter service at St. Clement Christian Orthodox church in Macedonia's capital Skopje, early Sunday, May 1, 2016. (AP Photo/Boris Grdanoski)]ATHENS, Greece (AP) — With "Holy Fire," fireworks and solemn Masses, Orthodox Christians around the world celebrated Easter on Sunday, commemorating the day followers believe that Jesus was resurrected more than 2,000 years ago.
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A hot air balloon base will start operating in Kalamata, Peloponnese on May 15 with the first flights of the Olympic Balloons company. The balloon base will be at the football field of the old slaughterhouse area, on the city’s west coast, according to ...
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… chemical reaction, few in the Greek Orthodox community care. A rational … bishop of Mokissos of the Greek Orthodox Metropolis of Chicago. … wounded congregation. In 2007, the Greek Orthodox Archdiocese suspended a former …
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UCY noted a very good knowledge of the GREEK language was required for most of its programmes of study including the English Studies ...
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There is hardly any other place in the world where you can encounter the art and culture of classical antiquity as closely as in the Munich collections ...
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The problem is a relatively simple one: GREECE is bridling at the unrealistic demands of the European commission and the International Monetary Fund ...
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Χριστός Ανέστη! Happy Greek Orthodox Easter! Kalo Pascha! and Kalo Mina!
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For several days now, a wooden trireme is decorating the grove of the Greek Navy Tradition in Faliro, Greece. The “Olympias” trireme is an exact copy of the ancient Athenian ship of the 5th century B.C., and on August 11, 2004, it carried the Olympic Flame to Piraeus. Designed by Trireme Trust, the construction of
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national_art_museum The GREEK National Museum of Contemporary Art is set to receive its first visitors on Thursday, May 19, while the grand ...
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“Jesus in Quran and Bible” Exhibition in GREECE ... titled “Jesus (AS) in Quran and Bible” has been mounted in Athens, the capital city of GREECE.
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[Migrants are pictured at a Turkish coastguard station after a failed attempt at crossing to the Greek island of Lesbos, in the Turkish coastal town of Dikili]By Paul Taylor BRUSSELS (Reuters) - Despite deep public misgivings in some countries, the European Union will this week drive forward a plan to grant Turks visa-free travel to Europe as a reward for having reduced a flood of refugees and migrants into Europe to a trickle. The European Commission is set to declare on Wednesday that Turkey has broadly met the criteria for early visa liberalisation in a blaze of last-minute legislation and ask EU governments and the European Parliament to approve the decision by the end of June, several EU sources said. Turkey has raised its game," a senior EU official familiar with the negotiations said.
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… the Greek island. A dice on the rock Despite mass tourism, Corfu … architecture of Rome and Ancient Greece. Today it is the Museum … Council admitted Greece largely because of the strength of Corfu cricket – so …
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Turkish Prime Minister Ahmet Davutoglu says the deal with the EU to stem migration flow is working. He says the number of migrants trying to reach ...
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ATHENS, GREECE — Across the world, Orthodox Christians are celebrating Easter, commemorating the day followers believe that Jesus was ...
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When Stalin denounced Yugoslavia a few weeks later for trying to set up a regional power-house linking Albania, Bulgaria and Greece, the Albanian politburo abandoned the union and lambasted Yugoslavia’s Marshal Tito. All Yugoslav experts were expelled.
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East Point was filled with the sounds of music, chatter and the smell of roasting lamb as hundreds gathered to wish each other Xristos Anesti on GREEK ...
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The GREEK-American Regas brothers, Demos and John, respectively the former chef and the general manager, ran the restaurant as a double act ...
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Meanwhile, the IOM's GREECE headquarters reported that 108 arrivals were registered on April 27 in GREECE. For 2016, the IOM Athens reports arrivals ...
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