How the world sees Greece
Ever since Greece’s privately held debt was restructured in 2012, the country’s public creditors have diligently avoided discussing the subject of debt relief. Until now. On May 24, the 18 eurozone finance ministers, known as the eurogroup, will ...
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This moment of comedy ocurred during Eurozone debt negotiations with GREECE. I had forgotten about it until Seth Myers included it in his skit on Brexit ...
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Candice Kumai is a chef, wellness journalist and the author of "Clean Green Eats: 100+ Clean-Eating Recipes to Improve Your Whole Life." INSIDER stopped by her New York City kitchen to watch her prepare a kale Caesar salad — a healthy alternative to traditional, high-calorie Caesar salads. Kumai shared her recipe for the low-calorie salad: Dressing ingredients: _2 tablespoons olive oil mayonnaise or Greek Yogurt 2% buy both _ _1 tablespoon Dijon mustard_ _2 tablespoons fresh lemon juice_ _¼ teaspoon freshly ground black pepper_ _¼ teaspoon sea salt_ _1 tablespoon Worcestershire sauce_ Directions: In a large bowl, whisk together the mayonnaise, mustard, lemon juice, pepper, sea salt, and Worcestershire sauce. Next, add rinsed kale, apple slices, hemp seed, watermelon radish, micro basil. and avocado, and voilà — you've got a healthy Caesar. _Written by Lisa Ryan and produced by Stephen Parkhurst_ FOLLOW INSIDER FOOD on Facebook FOLLOW INSIDER on YouTube
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The Saints Peter and Paul GREEK Orthodox Church is holding their annual GREEK Festival from May 12 through May 15, 2016. Open from 11 AM to 8 ...
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FESTIVAL FOLK: Among the many volunteers who have been working on the Church of the Annunciation's GREEK Food Fair are Gus Proyous, Roula ...
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6:45 p.m. The European Union law enforcement agency Europol says it will recruit up to 200 new investigators to bolster security checks at migration hotspots in Greece and other countries in an attempt to identify suspected extremists and criminals.
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EU member states have signed off on six more months of border controls within the Schengen area despite protests from Greece and Slovenia. Global Insight Merkel’s warm rhetoric belies colder welcome Germany keeps border checks in place Turkey demands EU ...
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The Town of GREECE participated in the 11th annual Erie Canal Clean Sweep on April 23 at the town's Historic Junction Lock Trail off of Ridgeway ...
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The Alternate Foreign Minister for European Affairs, Nikos Xydakis, met at the Foreign Ministry today with the UN Special Rapporteur for the human rights of migrants, François Crépeau.During the meeting, which took place in a very friendly atmosphere, Mr. Crépeau expressed his admiration for the charitable stance of Greeks on receiving thousands of refugees since the beginning of the refugee crisis.The discussion focused on the refugee and migration issue, in light of developments in the unstable geopolitical environment of the wider region of the Mediterranean and the Middle East. Reference was made to the EU-Turkey agreement and issues arising from...
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Sancti Spiritus-born Rolando Cepeda Abreu got one of the most outstanding results of his career, after being bestowed the title of Most Valuable Player in the Greek Professional League Cepeda, who participated in this type of event for the first time, led ...
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Around 1,000 child migrants were reported to have gone missing in Greece but it appears that many of them may have actually been adults who managed to get across the border and tried their luck in Hungary, Austria or Bulgaria. A migrant's age can have a ...
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Jim Albert, owner of Jimmy the GREEK'S, said Tuesday his restaurant located at 150 Philbrook Ave. in South Portland, on the property of the Maine Mall, ...
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LONDON (Reuters) - Haggling over Greece's latest round of debt relief is likely to run down close to the wire again, Slovenia's finance minister said on ...
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May 12, 2016 Picture: 11 May 2016 – A total of nearly 224,000 buyers attended seven fairs organised by the Hong Kong Trade Development Council (HKTDC) in April, a slight increase over the previous year. Buyers from the Chinese mainland and overseas numbered close to 126,000, accounting for 56 per cent of the total buyer attendance. The seven fairs included: Hong Kong International Lighting Fair (Spring Edition), Hong Kong Electronics Fair (Spring Edition), International ICT Expo, Hong Kong Houseware Fair, Hong Kong International Home Textiles and Furnishings Fair, Hong Kong Gifts & Premium Fair and Hong Kong International Printing & Packaging Fair which was jointly organised with CIEC Exhibition Company (HK) Limited. Buyer trends spotlighted The number of buyers from some emerging markets increased. Growth was seen in the number of buyers from ASEAN countries such as Malaysia (up 10%) and Brunei (up 19%). Satisfactory growth was recorded in buyers from certain European emerging markets, such as Greece and Hungary which registered year-on-year increases of 16 per cent and 15 per cent respectively. Buyers from Latin America registered one per cent growth compared to the previous year, while those from the mainland continued their upward trend, increasing five per cent compared to last year. Noteworthy growth was also seen in the number of buyers from the more than 60 countries covered by the Belt and Road, which accounted for nearly 40 per cent of total buyer attendance at the April fairs, up two per cent over the previous year. Consumer demand in traditional markets remains volatile due to the uncertain global economic conditions. However, some Nordic countries have emerged as a driving force for growth with relatively strong consumer demand in the region prompting more buyers to visit the HKTDC’s fairs. Buyers from Denmark and Norway rose 15 per cent and 10 per cent respectively. Elsewhere in Europe, buyer attendance from the United Kingdom was up 3.6 per cent and Italy rose 2.7 per cent year-on-year. From North America, Canadian buyers increased by 1.8 per cent. “In the face of uncertain global market conditions, traders should promote and source competitive, innovative products more proactively,” said HKTDC Deputy Executive Director Benjamin Chau. “The steady attendance at the seven HKTDC April fairs shows that buyers are adopting this strategy. It also demonstrates that Hong Kong is an important promotion and sourcing platform for traders. The fairs have also made an enormous economic contribution to Hong Kong’s economy.” According to the Hong Kong Tourism Board, per capita spending of overnight MICE visitors averaged HK$8,426 during their stay. Based on this figure, the total amount spent by overseas buyers and exhibitors during the seven April fairs would have amounted to more than HK$1.2 billion, excluding trade orders and spending on related business services. Mr Chau added that, in response to the buyer trend towards small and frequent orders, the HKTDC set up the hktdc.com Small Orders display at the Lighting, Electronics, Houseware and Gifts & Premium Fairs, featuring a total of 1,100 showcases with more than 8,500 products, generating over 70,000 business connections. Industry cautious about prospects; Intensifying cost pressures difficult to transfer Gathering exhibitors and buyers from around the world each year, the April fairs serve as a barometer for market sentiment and product trends. The HKTDC commissioned independent on-site surveys during the Lighting, Electronics, Houseware and Gifts & Premium Fairs. A total of more than 2,600 exhibitors and buyers were interviewed. The surveys found respondents to be generally cautious about market prospects in the year ahead. Forty two per cent of respondents expect sales to remain steady, with 31 per cent expecting overall sales to grow. Exhibitors and buyers also anticipate cost pressure challenges in the coming year and they believe it will be difficult to transfer the increased production costs to consumers. Twenty four per cent of buyers interviewed expect sourcing costs to rise. Among the exhibitors interviewed, 25 per cent expect FOB (Free On Board) selling price to increase, 55 per cent expect FOB selling price to remain unchanged and 18 per cent expect it to fall. North America leads traditional markets; Chinese mainland continues to shine The on-site surveys also sought exhibitors’ and buyers’ views on the growth prospects of different markets. Most respondents said North America is the most promising among traditional markets, followed by Australia and New Zealand. As for emerging markets, respondents were most optimistic about the mainland, ASEAN and other Asian countries (Please see appendix below). The exhibitors’ identified specific emerging markets for their export strategies. Twenty per cent of exhibitors interviewed consider the mainland and ASEAN to be major emerging export markets, up 15 percentage points and 13 percentage points respectively compared to the findings in last year’s survey. Smart tech drives electronics and lighting markets Regarding product trends of different industries, the surveys found that smart technologies are expected to play a key role in the electronics and lighting industries. Survey respondents at the Electronics Fair generally agreed that the market for electronics/electrical accessories will continue to grow. They also expect the trend for smart devices to move towards high-end models, with more than 80 per cent of respondents saying they believe consumers would be willing to pay a premium of up to 20 per cent for electronics and household appliances with smart home applications. As Internet of Things (IoT) technology continues to develop and smart homes become more prevalent, which will stimulate the demand for different types of products. Respondents identified product categories with best growth prospects as: systems items for connections with Internet/mobile network (wireless and Wi-Fi) (73%), audio-visual items with smart functions (72%) and wireless charging devices for smart applications (70%) Sixty-four per cent of respondents expect smart devices for energy management and saving to benefit from new developments in IoT. Other product categories favoured by the respondents include smart lighting apparatus and home security/alarm systems. For the lighting industry, the widespread use of smartphones and tablet computers will continue to play a key role in product development. Ninety-two per cent of respondents interviewed at the Lighting Fair believe that the development of smart technologies will facilitate the lighting industry in the coming two years. Most respondents (49%) expect household lighting systems that are compatible with, or can be controlled by, smartphone/tablet applications to have the greatest growth potential, followed by smart, energy-saving lighting systems for household/industrial/commercial purposes (46%) and industrial/commercial lighting systems that are compatible with, or can be controlled by, smartphone/tablet applications (26%). Trends in Gifts and Houseware At the Gifts & Premium Fair, most respondents said figurines and decorations have the strongest growth potential this year (13%), followed by tech gifts (12%), fashion jewellery & accessories (10%) and advertising gifts and premium (10%). At the Houseware Fair, eco-friendly products (16%), kitchenware and gadgets (14%) and interior décor and handicrafts (12%) were seen as the most promising products in the market. Media Enquiries Please contact the HKTDC's Communication and Public Affairs Department: Joe Kainz Tel: (852) 2584 4216 Email: joe.kainz@hktdc.org Category: Trade & Exports Event Trade Show FeaturedNews: Show in Featured News TopPicture:
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[hillary Clinton serious may 9 Virginia] Hillary Clinton wants the Federal Reserve to look a lot different. The Democratic candidate's campaign said Thursday that it supports a plan presented by Democratic lawmakers calling for more diversity at the Federal Reserve and removing bankers from the boards of regional branches. A statement from Clinton campaign spokesperson Jesse Ferguson argued that the changes were necessary in order to make the central bank more representative of the American people (emphasis ours): The Federal Reserve is a vital institution for our economy and the well-being of our middle class, and the American people should have no doubt that the Fed is serving the public interest. THAT'S WHY SECRETARY CLINTON BELIEVES THAT THE FED NEEDS TO BE MORE REPRESENTATIVE OF AMERICA AS A WHOLE AND THAT COMMONSENSE REFORMS -- LIKE GETTING BANKERS OFF THE BOARDS OF REGIONAL FEDERAL RESERVE BANKS -- ARE LONG OVERDUE. Secretary Clinton will also defend the Fed's so-called dual mandate -- the legal requirement that it focus on full employment as well as inflation -- and will appoint Fed governors who share this commitment and who will carry out unwavering oversight of the financial industry. The biggest issue raised in Secretary Clinton's statement is that employees of banks make up a considerable portion of the boards of the twelve regional Federal Reserve banks. The original letter, signed by Congressional Democrats such as Massachusetts Senator Elizabeth Warren and presidential candidate Vermont Senator Bernie Sanders, was sent to Federal Reserve Chair Janet Yellen Thursday morning. It cited some gains made by the Fed, but said there is more work to be done. "However, despite these gains, we remain deeply concerned that the Federal Reserve has not yet fulfilled its statutory and moral obligation to ensure that its leadership reflects the composition of our diverse nation in terms of gender, race and ethnicity, economic background, and occupation, and we call on you to take steps to promptly begin to remedy this issue," said the letter. The Democrats' letter also cited statistics that showed that 92% of regional bank presidents are white, 100% of the current voting members of the Federal Open Markets Committee are white, and 75% of the regional bank directorships are male. The Fed's leadership is made of of three levels. The lowest level is made up of the 12 regional banks' boards of directors. Those elect the next level, the presidents of the regional branches. At the top level are the seven members of the Fed's Board of Governors appointed by the US president, including the chair. The seven governors and the regional presidents make up the Federal Open Markets Committee which determines monetary policy for the US. [janet yellen] The letter from Democrats also advocated for caution in monetary policy decision-making at upcoming meetings, taking into consideration how policy would impact average Americans. "Moreover, as you make crucial monetary policy decisions in 2016, we urge you to give due consideration to the interests and priorities of the millions of people around the country who still have not benefited from this recovery," said the letter. "We share the vision that you laid out in Chicago two years ago: an economy in which all working families 'get the chance they deserve to build better lives'." There has been a push among Democrats in Congress urging the Fed to keep interest rates near their historically low levels in order to allow more workers to find jobs and increase wages. Chair Yellen in her regular testimony before Congress that she is sympathetic to the position. SEE ALSO: HILLARY CLINTON'S SON-IN-LAW IS SHUTTING DOWN ONE OF HIS FUNDS Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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[oil well sunset rig]Reuters Oil's had a pretty good year. The commodity's seen a nice rally that's approaching six-month highs in light of a weaker US dollar, stronger economic data from China, decreasing non-OPEC production, and a continued rise in demand. Since their February lows, WTI crude has rallied by about 75%, while Brent has rallied by about 57%. And as of 12:38 p.m. ET, the former is around $46.11 per barrel, while the latter is around $47.41 per barrel. Until early April, oil's prices closely tracked those of other commodities, such as copper. However, since then, Capital Economics' Tom Pugh observed that there's been a bit of a divergence, which he attributed to various, on-going supply outages. "The recent divergence can probably be explained by wildfires in Canada and pipeline bombings in Nigeria, which have knocked over 1.5 million barrels per day off global crude oil output, and effectively brought the market back into balance," argued Pugh in a note to clients. "Meanwhile, the price of copper has fallen back following concerns about the state of demand in China, below average amounts of mine disruptions and high levels of stocks," he added. [Untitled]ReutersNotably, the commodity strategy team at RBC Capital Markets led by Helima Croft also touched on the global outages. They noted that although the large-scale disruption issue seems to be temporary, Nigeria's likely to see more outages in the future. And, for what it's worth, the team suggested that if disruptions continue, they could start to attract a bit more attention. "The oil market has not priced in a supply disruption risk premium over the past 18 months given that global inventories are ample enough to weather short-term hiccups; however, acute and lengthy disruptions may soon become too large to ignore," the team added. In any case, for what it's worth, although 2016's oil price rally is great news for oil producers and investors, some analysts have recently noted that it could be "sowing seeds of its own destruction." "The danger is now that prices rise so much that they actually prevent the market from rebalancing," Pugh wrote last week. "We would not be surprised if prices continued to fall over the next few weeks and months before trending higher in the second half of 2016," he added. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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Before a viral video gets to the viewer, the clips are extensively edited, color-corrected and oftentimes auto-tuned to perfection prior to launching into ...
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A group of people who tried to breach the GREEK border with the Former Yugoslav Republic of Macedonia are seen crossing a small river on their way ...
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As the extremely large Easter crowd overflowed into every nook and cranny of the local Greek church, the pastor could only marvel at the number from his pulpit on Friday, April 29. “We had 800 people here,” said Fr. Christopher Makiej of Sts.
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... they take part in a peaceful protest at a makeshift refugee camp of the northern Greek border point of Idomeni, GREECE, on Thursday, May 12, 2016.
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Commenting on a forthcoming visit by Russian President Vladimir Putin in GREECE, Mardas said it would be a very important visit by a chief of state, ...
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Italy's coastguard rescued nearly 900 mostly Syrian migrants from two boats off western Sicily on Thursday, a coastguard spokesman said, amid signs that refugees from the Middle East are increasingly shunning the Greek route into Europe. More than one million migrants, many from Syria, have entered Europe via Turkey and Greece in the past year but the number has fallen sharply since March when Ankara agreed with the European Union to take back refugees landing on the Greek islands. The United Nations refugee agency (UNHCR) said the two boats involved in Thursday's operations, which were also carrying some Iraqis, represented the largest such attempted mass migration from Syria and Iraq to Italy for at least a year.
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Click to share on Twitter (Opens in new window) Click to share on Google+ (Opens in new window) Share on Facebook (Opens in new window) Click to share on Pinterest (Opens in new window) Greek Orthodox Church in Florence holds Annual Greek Festival (Image 1 ...
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The GREEK mayor is to travel to Shanghai at the end of May to present to his Chinese counterparts the idea of bringing ancient cities closer together ...
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The EU sanctions against Russia and reciprocal trade restrictions introduced by Moscow are damaging the GREEK economy, GREEK Deputy Foreign ...
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A few weeks ago, I had the honor of speaking on a panel entitled “Out and GREEK, For Historically Black Fraternities & Sororities: A Conversation about ...
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A prosecutor has urged the Supreme Court to uphold a two-year suspended prison sentence handed to former PASOK minister Yiannos Papantoniou ...
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[boehner salt] At the SkyBridge Alternatives conference in Las Vegas, former House Speaker John Boehner advised the Wall Streeters in attendance about how to improve their industry's public image: Take a page from the plastics industry. Remember "Plastics Make It Possible"? Boehner said the plastics PR campaign did a lot to blunt political attacks on the industry. "Over the course of a few years, it convinced the American people that plastics were really good," said Boehner. "And the whole issue went away." Boehner thinks Wall Street should take a similar approach, bypassing Washington and taking a Banking Is Good message directly to the voters. He suggested bankers focus on the importance of credit for investment and job creation, and argue that bank regulations are crimping the expansion of credit. "Not many people can save enough money to start a business on their own," Boehner said. "If you don't have banks that are lending money and helping to multiply the money supply, you're not going to grow the economy. When you look at what Washington has done to the banks over the last eight years, it's a wonder they're making any loans." So, there you have it, Wall Street. There's a great future in plastics. Think about it. Will you think about it? SEE ALSO: LARRY SUMMERS JUST THREW EPIC SHADE ABOUT TAX BREAKS RIGHT IN A PRIVATE-EQUITY CEO'S FACE Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: Why Hillary Clinton is a 'dangerous person'
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European Commission officials are recommending a change in Greek banking policy to reduce the impact that the imposition of capital controls has had, sources told the Athens News Agency on Thursday. The adoption of a different treatment on existing and new money pumped into the system would be based on the same model adopted in
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I wasn’t the biggest fan of Toronto writer/director David Bezmozgis’ feature debut, 2009’s Victoria Day. But seven years can have a salutary effect on a filmmaker – either that or Bezmozgis chose more wisely in his subject matter, this time ...
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Patrick Kingsley, Alex Duval Smith and Jennifer Rankin join Tom Clark to discuss Europe’s response to the refugee crisis on its southern shores; the EU’s deal with Turkey and the future of the continent’s asylum system Last year, more than a million refugees came across Europe’s borders. European countries first scrambled to provide shelter, then provided onward transport and eventually began to erect fences. Now a deal with Turkey appears to have slowed the influx of migrants into Greece. Continue reading...
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Stocks fell in late-morning trading on Thursday after opening in the green, and one day after the biggest drop for the S&P 500 in a month. Near 11:18 a.m. ET, the Dow was down 60 points (0.34%), the S&P 500 was down 8 points (0.41%) and the Nasdaq was down 46 points (1%). Apple shares took out their year-to-date low and fell 3% to as low as $89.47, the weakest level in about two years. Nikkei reported that Apple's main processor-chip supplier sees shipments dropping by as much as 80% year-on-year from June through December. Meanwhile, crude oil climbed to a six-month high. West Texas Intermediate crude futures in New York touched $47.02 per barrel, the highest level since October, before slipping 1%. Crude oil has rallied about 26% in April. The big industry news in recent days included an unexpected drop in US inventories last week reported Wednesday by the Energy Information Administration, and potential supply disruptions in Canada following the Fort McMurray wildfire.[Screen Shot 2016 05 12 at 10.03.32 AM]Investing.com In economic data, initial jobless claims unexpectedly spiked by 20,000 to 294,000, the highest level since last February. It's not a reason to be alarmed though, as there aren't many indications that companies are increasing layoffs. In other news, Monsanto shares surged as much as 10% after Bloomberg reported that the chemical and pharma giant Bayer AG is thinking about making a bid for it. Kohl's joined the list of retailers that had a subpar quarter when it reported earnings pre-market that missed on profits, sales, and comparable-store sales. Shares of Target, Nordstrom and other stores tanked in trading on Tuesday after disappointing results from Macy's. The "XRT" exchange traded fund that tracks the retail sector was virtually flat in early trading after dropping 4% Wednesday. NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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The German government is blocking a Greek bailout in fear of being democratically replaced by the populist, Eurosceptic Alternative for Germany (AfD) Party. In “AfD is the major hurdle in the Greek bailout”, Die Welt’s deputy economics editor, Jan ...
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LONDON (Reuters) - Jeroen Dijsselbloem, head of the Eurogroup of finance ministers, expects Greece's spending cuts and reforms plans to be ...
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… catering orders and takeout, the Greek restaurant will wow your guests … to prepare flavourful Canadian and Greek favourites to perfection. Choose from … or spanakopita pastries, tzatziki sauce, Greek and Caesar salads, baklava and …
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Google to be fined by EU in antitrust... A group of 28 refugees from Syria and Iraq have arrived in Slovenia as part of an EU relocation plan to deal with the migrant crisis. The refugees arrived on Thursday from Greece where thousands have been stuck for ...
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This week, we stayed inside and cooked up a meal from the popular Blue Apron delivery service. I was gifted a free box from a friend and decided to share our experience with the process this week. I've been seeking ways to enjoy cooking at home more ...
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A 36-year-old Greek was among 105 scientists and professionals honored by U.S. President Barack Obama in the annual “Presidential Early Career Awards for Scientists and Engineers.” In a ceremony on Monday, President Obama named 105 researchers as ...
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[CORRECTS SPELLING OF JUNCKER -The President on the European Commission, Jean-Claude Juncker, attends a panel discussion about the future of Europe at the Europe Forum event, hosted by the Germany's WDR television and broadcast service, at the Foreign Ministry, in Berlin, Germany, Thursday, May 12, 2016. (AP Photo/Markus Schreiber)]BERLIN (AP) — Turkey and the European Union faced off Thursday over a proposed deal to let Turks travel to Europe without visas — a crucial carrot the bloc has been dangling in order to get Turkey to halt the torrent of migrants flowing from its shores to EU member Greece.
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ATHENS—In Europe’s battle with the International Monetary Fund over Greece, Germany has a way to win. Germany, Europe’s dominant economic power, is leaning heavily on the IMF to accept hypothetical assurances that Greece’s debt burden will be ...
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Designs by Greek fashion star Mary Katrantzou, who now lives in London, were featured at the MMA Costume Exhibit's star-studded gala.
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After a six-year absence, Italy’s national airline Alitalia will begin flights to Cyprus at the same time Greece's Ellinair will start too.
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After continuing to bend to the will of its international lenders, Greece keeps hoping it will lead to debt relief but none's in sight.
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ATHENS, May 12 (Reuters) - On the third floor of the beleaguered finance ministry in central Athens, officials in one department have a reason to smile. An unintended consequence of the decision to impose capital controls last June is that Greeks are ...
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Stocks were higher in early trading on Thursday and crude oil rose to a six-month high. Near 10:04 a.m. ET, the Dow was up 33 points (0.2%), the S&P 500 was up 3 points (0.15%) and the Nasdaq was alone in the red, down 8 points (-0.18%). Apple shares took out their year-to-date low and fell nearly 2% to as low as $90.64, the weakest level since June 2014. West Texas Intermediate crude futures in New York touched $47.02 per barrel, the highest level since October. Crude oil has rallied 26% in April. The big industry news in recent days included an unexpected drop in US inventories last week reported Wednesday by the Energy Information Administration, and potential supply disruptions in Canada following the Fort McMurray wildfire.[Screen Shot 2016 05 12 at 10.03.32 AM]In economic data, initial jobless claims unexpectedly spiked by 20,000 to 294,000, the highest level since last February. It's not a reason to be alarmed though, as there aren't many indications that companies are increasing layoffs. In other news, Monsanto shares surged as much as 10% after Bloomberg reported that the chemical and pharma giant Bayer AG is thinking about making a bid for it. Kohl's joined the list of retailers that had a subpar quarter when it reported earnings pre-market that missed on profits, sales, and comparable-store sales. Shares of Target, Nordstrom and other stores tanked in trading on Tuesday after disappointing results from Macy's. The "XRT" exchange traded fund that tracks the retail sector was virtually flat in early trading after dropping 4% Wednesday. SEE ALSO: THESE 2 INDUSTRIES HAVE THE WORST BENEFITS, AND THAT'S NOT GOING TO CHANGE ANYTIME SOON Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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For the last year the US corporate sector has been mired in an earnings recession. But in a note to clients out Thursday, Deutsche Bank's Binky Chadha argues that the worst is over and earnings growth is coming back. Like, right now. "TIME FOR A SIGNIFICANT INFLECTION," Chadha writes. "THE 5 DRIVERS IMPLY A COMBINED BOOST OF 8.2% TO Q2 S&P 500 EARNINGS; AFTER -6.3% IN Q1 TO SLIGHTLY POSITIVE GROWTH OF +1.9%. The bottom-up consensus presently sees only a modest turn, to -4.7%. Adding: "The differential between our top-down arithmetic and the bottom-up consensus suggests downgrades should stop and indeed they have paused recently and eventually lead to upgrades or positive surprises." [Screen Shot 2016 05 12 at 10.09.44 AM] The five factors Chadha argues have really dragged down earnings in recent quarters: the dollar, oil prices, domestic growth, international growth, and market volatility. From trough to peak over the last year and a half, the dollar appreciated by about 35% while the price of oil declined about 75% over the same period. In recent months, both of these trends have reversed. This will help US-based companies collecting sales overseas as well as repair some of the damage in the energy sector which saw earnings fall over 100% in the first quarter. [Screen Shot 2016 05 12 at 10.20.22 AM] The biggest boost to earnings, in Chadha's view, however, will be a boost in domestic growth, which should add 3.2% to earnings in the second quarter as recent PMI readings on overall economic activity accelerated in the first quarter of the year. International growth will still be a modest 0.2% drag on earnings in the second quarter, however. Additionally, a calming of financial markets — which led to bank stocks getting hammered to start the year as investors fretted about the impacts of negative interest rates on banks — should see the financial sector return to earnings growth. And so taking all this together, it looks like the worst for America's biggest companies, at least when it comes to bottom-line hits, is over. [Screen Shot 2016 05 12 at 10.21.50 AM] SEE ALSO: YEP, US COMPANIES TRIED TO HIDE A TON OF BAD NEWS FROM INVESTORS LAST YEAR Join the conversation about this story » NOW WATCH: FORMER GREEK FINANCE MINISTER: The single largest threat to the global economy
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Greek unemployment rate eased to 24.2 pct of the workforce in February this year, from 24.4 pct in January and 25.8 pct in February 2015, Hellenic Statistical Authority said on Thursday. The statistics service, in a monthly report, said that the number of unemployed people fell 5.7 pct in February compared with the same month
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Greek State Minister Nikos Pappas said the government was “half-hearted” when signing some of the bailout required measures and the agreement with creditors was a compromise. Pappas gave an interview to Deutsche Welle where he admitted that the Greek government was “half-hearted in measures that we believe that could be implemented in a different way.”
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This Greek salad from Canadian Living has a twist – fried halloumi cheese. Halloumi is a semi-hard, unripened, brined cheese typically made from goat’s and sheep’s milk. Its high melting point makes it perfect for frying or grilling. It’s a ...
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GREECE, N.Y. -- The Red Cross is helping five people with housing after a fire in GREECE early Thursday morning. It happened on Lake Breeze Road, ...
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| READ THE ORIGINAL POST AT www.twcnews.com |