Article: Mark Zuckerberg dropped a hint about another multibillion-dollar opportunity Facebook hasn’t even started to tap yet

#AceFinanceReport – July.30: Mark Zuckerberg dropped a hint about another multibillion-dollar opportunity Facebook hasn’t even started to tap yet


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@latimes #BREAKING: ‘ Relativity Media Movie Studio files for Chapter 11 Bankruptcy protection @AceBreakingNews

#AceFinanceNews – July.30: Relativity Media, the movie studio founded 11 years ago by Ryan Kavanaugh, has filed for Chapter 11 bankruptcy protection.

The struggling company said today it would continue to operate while “restructuring its finances” and will look for potential buyers.

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WASHINGTON: ‘ K Street Blitz to Save Export/Import Bank ‘

#AceFinanceNews – WASHINGTON:July.30: Supporters of the Export-Import Bank are worried about its future after losing a battle with conservatives this month to renew its charter.

The bank’s proponents say Ex-Im has the money to get by over the next two months, and they note that appropriators have included funding for day-to-day operations in next year’s spending bills.


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Michael Jordan Loses China Trademark Lawsuit To Chinese Knockoff Brand Qiaodan Sports

#AceFinanceNews – July.30: Michael Jordan Loses China Trademark Lawsuit To Chinese Knockoff Brand Qiaodan Sports
International Business Times

After years of lawsuits against a Chinese imitator appropriating his name and brand, Michael Jordan, the former Chicago Bulls player widely hailed as one of the best basketball players of all time, lost a trademark suit to Qiaodan Sports in China’s highest court on Thursday after numerous appeals.

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Deutsche Bank CEO: Q2 profits ‘nowhere near good enough’

#AceFinanceReport – FRANKFURT, Germany (AP) July.30: Deutsche Bank’s net profit rose in the second quarter, but legal expenses stemming from investigations of the bank’s past conduct also increased and the bank’s new co-CEO said its financial performance was unsatisfactory.

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Guinness has a plan to take on craft beer — and it’s working

#AceFinanceNews – Featured Report: July.30: Guinness has a plan to take on craft beer — and it’s working

U.S. President Barack Obama (C) gives a thumbs-up as he celebrates St. Patrick's Day with a pint of Guinness during a stop at the Dubliner Irish pub in Washington, March 17, 2012.

Diageo, the alcohol giant behind the likes of Smirnoff, Johnnie Walker, and Captain Morgan, just put out its full-year results and one of the few bright spots is Guinness.

The iconic Irish stout has an association with history and heritage, but Diageo is trying to reinvent it as “innovative” — and the plan is working.

Here’s Diageo:

Innovation remained a key performance driver with net sales up 30% [in this category], driven by successes such as ‘The Brewers Project’ which helped put Guinness back in growth in both Great Britain and Ireland.

“The Brewers Project at St James’s Gate” is a branding and marketing campaign tied to the launch of new Guinness beers, all trying to make the Dublin brewery look like a “craft” beer maker of the type springing up across Britain right now.

Last year Guinness brought out its first new drinks in years in the UK, launching two porters and, most incredibly, a golden ale. Their success helped Diageo’s beer sales rise 2% in Britain.

In North America too Guinness sales were up thanks to the launch of a Guinness branded Blonde American Lager.

All of this is in response to the rising tide of “craft” beer that’s gaining in popularity across North America and the UK. Consumers are willing to spend more on more adventurous and complex styles of beer, but are less interested in “traditional” drinks.

While Diageo will be pleased with Guinness’s performance in the west, sales declines in Africa and Asia mean globally sales fell by 2%.

That pretty much sums up performance across the whole company. Sales of most spirits are falling, with tequila and North American whiskey the only big bright spots, as the table below shows:

diageoDiageo reported a 5% rise in sales to £10.8 billion ($16.85 billion), while profit rose 3% to £2.8 billion ($2.37 billion). Shares are down 0.18% 20 minutes after trade started in London.

CEO Ivan Menezes says in Thursday’s results statement that the performance “reflects the challenges we have seen on top line growth” but says he’s optimistic about the year ahead.


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NEW YORK: ‘ Bloomberg Markets magazine release top 10-strongest banks – Hang Seng tops list ‘

#AceFinanceReport – NEW YORK, July 30, 2015 /PRNewswire/ — Today, Bloomberg Markets magazine released its annual ranking of the world’s strongest banks. Hong Kong-based Hang Seng tops the list for the second year in a row, followed by Norinchukin Bank (Japan) and Oversea-Chinese Banking (Singapore).

Bloomberg’s Alfred Liu and Elena Logutenkova write, "The invigorating powers of snake soup aside, Hang Seng is benefiting from rising wealth in Hong Kong and mainland China. It’s one of six Asian banks in Bloomberg’s top 20–five of them in the top 10. Japan’s Norinchukin Bankrepeats in second place, after having tied for that spot a year ago. Singapore’s Oversea-Chinese Banking is No. 3 in our fifth annual ranking of lenders whose assets total $100 billion or more. Two other Singapore banks are ninth and 10th.

Across Asia, the International Monetary Fund expects gross domestic productgrowth to average 5.6 percent this year, triple the European Union’s 1.8 percent. And Asia’s rich are getting richer. The 4.69 million individuals in the Asia-Pacific area with at least $1 million in assets boosted their combined wealth 11 percent last year to a total of $15.8 trillion, the fastest pace in the world, Royal Bank of Canada and Cap Gemini say. "Asian banks stand out because of the huge wealth creation in the region," says Arthur Kwong, head of Asia-Pacific equities at BNP Paribas Investment Partners in Hong Kong. "A lot of the banks are well capitalized."


1. Hang Seng (Hong Kong)
2. Norinchukin Bank (Japan)
3. Oversea-Chinese Banking (Singapore)
4. National Commercial Bank (Saudi Arabia)
5. Desjardins Group (Canada)
6. Capital One Financial (U.S.)
7. Qatar National Bank (Qatar)
8. OP Financial Group (Finland)
9. DBS Group Holdings (Singapore)
10. United Overseas Bank (Singapore)

-NORTH AMERICA: The Canadian Imperial Bank of Commerce is the only North American bank to appear in the rankings every year. The U.S. has three entries: newcomer Capital One Financial in McLean, Virginia, at No. 6; No. 14, Citigroup; and No. 15, Winston-Salem, North Carolina-based BB&T, the ninth-largest U.S. commercial bank by assets. New York-based Citigroup, the world’s twelfth-largest bank in terms of assets in the ranking period, is the only large global lender among the 20 strongest. The biggest U.S. banks by assets, led by JPMorgan Chase and Bank of America, didn’t make the list.

-ASIA: Four Asian banks have appeared on the list every year: Hang Seng Bank (Hong Kong), Oversea-Chinese Banking (Singapore), DBS Group Holdings (Singapore) and United Overseas Bank (Singapore).

-EUROPE: Europe tied Asia with six lenders in the top 20–thanks primarily to Nordic banks. Sweden’s regulator has been raising capital requirements for the biggest banks since 2011.

To identify the world’s strongest banks, Bloomberg evaluated public and private banks with total assets of $100 billion or more as of June 1. The banks were evaluated in five categories. The ratio of a bank’s Tier 1 capital to its risk-weighted assets accounted for 40 percent of each bank’s overall score. The ratio of nonperforming assets to total assets got a weighting of 20 percent, as did the ratio of reserves for loan losses to nonperforming assets. The ratio of deposits to funding accounted for 15 percent of the score. And the efficiency ratio, which compares costs with revenues, received a 5 percent weighting.

SOURCE Bloomberg


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GERMANY: ‘ Unemployment rises to highest figures since May 2014 ‘

#AceFinanceNews – July.30: BERLIN (Reuters) – German unemployment unexpectedly rose in July and posted its biggest increase since May last year in a setback for domestic demand, which is expected to drive growth in Europe’s largest economy this year.

The Federal Labour Office reported on Thursday that the seasonally adjusted unemployment total rose by 9,000 to 2.799 million. A Reuters poll of economists had pointed to a fall of 5,000.

The jobless rate remained at 6.4 percent for the fourth straight month. That is the lowest since German reunification in 1990.

(Writing by Paul Carrel; Editing by Caroline Copley)

German unemployment posts biggest rise since May 2014


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