Will they pick up the trash today? Is the library open? Banks probably aren't....schools are open....I'm just gonna guess my way through.

Thank God it ended all wars and we've had uninterrupted peace ever since . . .

http://www.businessinsider.com/what-you-need-to-know-before-european-markets-open-november-11-2014-11

Alibaba Posts Record Sales On Singles Day. On the world's largest online shopping day of the year, China's Alibaba shattered last year's full-day sales of $5.75 billion, pulling in $5.8 billion by the afternoon.

Aldi Is Hiring. German discount supermarket Aldi said it will create 35,000 news jobs in the UK by opening 1,000 new stores over the next 8 years. Aldi, along with other price-cut retailers in Britain, have been taking market share from the "big four" supermarkets: Tesco, Asda, Morrisons, and Sainsbury's.

GoPro Is Selling More Shares. Five months after its $491 million IPO, American camera maker GoPro is selling up to $800 million of stock, according to an SEC filing on Monday. In an email to employees, CEO Nick Woodman said: "I plan to sell a portion of my holdings in GoPro, but no one should misunderstand my commitment to the company or our vision."

Asia Closed In The Green. Japan's Nikkei closed up 2.05% and the Hong Kong Hang Seng Index closed up 0.21%. "The Nikkei stock average rising to a 7-year high as speculators snapped up futures and call options as they wagered that Prime Minister Shinzo Abe may postpone a planned sales tax increase," Reuters writes.

The US And China Reach A Deal. In breakthrough negotiations, the Obama administration said it had achieved a deal with China to eliminate tariffs on a range of technology products. “With trade in tech goods surpassing $4 trillion annually, the commercial significance of these negotiations is obvious,” Myron Brilliant, the head of international affairs of the United States Chamber of Commerce, told The New York Times.



Read more: http://www.businessinsider.com/what-you-need-to-know-before-european-markets-open-november-11-2014-11#ixzz3Il5Q6WJu

http://www.businessinsider.com/market-update-nov-11-2014-2014-11

Here's the scorecard, so far:

France's CAC 40 is up 0.46%.

Germany's DAX is up 0.44%.

Spain's IBEX is up 0.86%

Italy's FTSE MIB is up 0.60%.

Britain's FTSE 100 is up 0.22%.

"European equities are set to perk up on overnight gains in the U.S. and Asia. Confidence in the U.S. economy seems to be brushing off any domestic concerns and the bulls are running with it," Capital Spreads dealer Jonathan Sudaria said in an analyst note.

Asian markets closed in the green. Nikkei's 225 closed up 2.05%, and Hong Kong's Hang Seng closed up 0.27%.

This comes after reports that Japan's Prime Minister Shinzo Abe is considering holding a snap vote in Decemeber if he decides to postpone a sales tax increase planned to take effect next October.

U.S. futures are up, with Dow futures up 29 points, S&P futures up 2.50 points, and Nasdaq futures up 7 points.



Read more: http://www.businessinsider.com/market-update-nov-11-2014-2014-11#ixzz3Il5yMJ3K

http://www.businessinsider.com/brent-crude-hits-4-year-low-2014-11

Brent oil hit a four-year low Tuesday, slumping to $81.86 a barrel. This breaks last week's low of $81.92. Brent crude is now trading at $82.61.



Crude oil hit a day low of $76.50, before jumping back and is now trading at almost $77. Last week, it hit a two-year low of $76.42.

http://www.businessinsider.com/10-most-important-things-in-the-world-right-now-nov-11-2014-11

1. A powerful militant group in Egypt, Ansar Beit al-Maqdis, has pledged its loyalty to the Islamic State, an alliance that could provide the Egyptian group with new money and weapons to fight the Egyptian military.

2. Reports indicate that the leader of ISIS, Abu Bakr al-Baghdadi, may have been killed or injured by US-led airstrikes in the Iraq city of Mosul, although it has not been confirmed by the US military.

3. South Korea has ended the search for nine bodies still missing from April's ferry disaster that killed more than 300 people.

4. In a newly-released recording, Ronald Reagan apologises to Margaret Thatcher for not consulting her about the 1983 invasion of Grenada, saying: "We regret very much the embarrassment that's been caused to you, and I would like to tell you what the story is from our end."

5. Catalan leader Artur Mas said he would push for a binding independence vote after preliminary results from Sunday's symbolic referendum showed that 85% of voters supported breaking away from Spain.



Read more: http://www.businessinsider.com/10-most-important-things-in-the-world-right-now-nov-11-2014-11#ixzz3Il9lsXOP

http://www.businessinsider.com/wall-street-bonus-survey-johnson-associates-2014-11

Bonus payouts might miss the expectations of many Wall Streeters this season.

Johnson Associates published its latest projections for Wall Street compensation on Monday. Incentives for people working in hedge funds, fixed income and equities could drop as much as 10 percent from 2013, a copy seen by Business Insider shows.

Hedge fund bonuses rose by as much as 15% last year, according to a similar survey.

Retail and commercial banking bonuses are projected to stay flat, while employees in investment banking and private equity firms could see a 10 - 15% rise in their bonuses.



Read more: http://www.businessinsider.com/wall-street-bonus-survey-johnson-associates-2014-11#ixzz3IlAnivNN

Stay warm Demeter, it's a tad crisp here in Denver this morning.

http://hosted.ap.org/dynamic/stories/A/AS_APEC?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-11-06-10-14

HUAIROU, China (AP) -- Leaders of Asia-Pacific economies agreed Tuesday to begin work toward possible adoption of a Chinese-backed free-trade pact, giving Beijing a victory in its push for a bigger role in managing global commerce.

In a joint statement after a two-day Asia-Pacific Economic Cooperation summit, the leaders including U.S. President Barack Obama and Russia's Vladimir Putin agreed to take a first step by launching a two-year study of the initiative.

"This is a historic step in the direction of an Asia-Pacific free trade area," said Chinese President Xi Jinping at a news conference.

China is promoting the proposed Free-Trade Area of the Asia Pacific despite U.S. pressure to wrap up other trade negotiations. Analysts see it as a response to a U.S.-led initiative, the Trans-Pacific Partnership, which includes 12 countries but excludes China.

"Whether the stone hits the pitcher, or the pitcher hits the stone, it's going to be bad for the pitcher"---Sancho Panza

Three guesses which nation is the pitcher.

http://hosted.ap.org/dynamic/stories/U/US_VOLKSWAGEN_UNION?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-11-04-19-50

NASHVILLE, Tenn. (AP) -- The United Auto Workers union is hailing a new Volkswagen policy as a vehicle to soon gain representation of workers at its first foreign auto plant in the South.

Not so fast, says a group of workers who orchestrated a narrow defeat of the UAW in a union vote at Volkswagen's Chattanooga plant earlier this year.

The details of the new policy have yet to be released, but both the UAW and the rival American Council of Employees expect it to outline the company's plans to interact with community and labor groups at the plant.

The UAW expects the policy change to lead to the union being recognized by the company to bargain on behalf of all workers at the plant, the UAW said in a letter to members of Local 42 in Chattanooga on Monday.

http://hosted.ap.org/dynamic/stories/F/FINANCIAL_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-11-03-53-30

KEEPING SCORE: France's CAC 40 added 0.3 percent to 4,236.06 and Germany's DAX rose 0.4 percent to 9,384.91. Britain's FTSE 100 inched up 0.2 percent to 6,623.13. Futures augured further gains on Wall Street after Monday's new highs. Dow futures were up 0.2 percent at 17,580 and S&P 500 futures gained 0.1 percent to 2,036.40.

THE QUOTE: "Investors reflected on sound corporate earnings and an encouraging macro environment," said Will Leys, sales trader at CMC Markets in Sydney. "The likelihood of low rates for the near term, combined with improving sentiment and low commodity prices, is currently offsetting concerns over the global growth outlook."

ECONOMY WATCH: Investors in Asia are looking to the release of revised Japanese July-September gross domestic product data from Japan next week. Prime Minister Shinzo Abe has said an indication of economic health is key in determining whether he will again raise the sales tax next year. Japan's economy took a hit when the sales tax was increased in April. But signs about the U.S. economy have been positive recently. Reports last week showed that U.S. manufacturing continued to expand and hiring remained healthy.

ASIA'S DAY: Japan's Nikkei 225 added 2.1 percent to 17,124.11, closing above 17,000 for the first time since October 2007, as a weakening yen added to optimism about the market's prospects. Hong Kong's Hang Seng rose 0.3 percent to 23,808.28 but China's Shanghai Composite lost 0.2 percent to 2,469.67. Australia's S&P/ASX 200 inched down 0.1 percent to 5,517.10 while markets in New Zealand and Southeast Asia rose.

ENERGY: Benchmark U.S. crude was down 77 cents to $76.64 a barrel in electronic trading on the New York Mercantile Exchange. It fell $1.25 to close at $77.40 on Monday.

CURRENCIES: The dollar rose to 115.81 yen from 114.94 yen late Monday. In late October, the dollar was buying about 108 yen but the Japanese currency has weakened considerably since then, driven lower by the Bank of Japan expanding its already lavish monetary stimulus. The euro slipped to $1.2412 from $1.2425.

http://hosted.ap.org/dynamic/stories/U/US_TARGET_BLACK_FRIDAY?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-11-10-19-04-41

MINNEAPOLIS (AP) -- Target is planning to offer Black Friday deals before the Thanksgiving holiday, in its latest move to boost sluggish sales heading into the holiday shopping season.

The retailer launched a one-day online sale Monday that will last until midnight Eastern time with deals that can be picked up at stores only. Target also is giving early access to some of the deals reserved for the holiday kickoff by holding a pre-sale on a handful of Black Friday discounts at stores and online on Nov. 26, the day before Thanksgiving. And on Thanksgiving morning, online customers will have access to discounts before the 6 p.m. store openings.

The moves come after Target said last month that it was eliminating shipping fees for online orders under $50 until Dec. 20. Target said it saw a 30 percent increase in online sales in the first 48 hours of free shipping compared with the prior two weeks.

Last year's holiday season started out fine for Target, but a data theft disclosed the week before Christmas caused shoppers to flee for months. While shoppers have moved beyond the breach, business has remained sluggish.

http://www.bloomberg.com/news/2014-11-11/davos-man-ackermann-lured-to-cyprus-bank-by-billionaires.html

Josef Ackermann used his clout as head of Deutsche Bank AG to help save the euro by negotiating the biggest debt restructuring in history. Now, he’s been tapped to resuscitate a victim of that deal.

Ackermann, who left Deutsche Bank in 2012, has been nominated as chairman of Bank of Cyprus Pcl. Deposits there were seized last year as part of a 10 billion-euro ($12.4 billion) international rescue after Germany balked at bailing out rich Russians with money in Cypriot banks. Shareholders are scheduled to meet Nov. 20 in Nicosia, Europe’s last divided capital, to approve the appointment.

Backing him are Viktor Vekselberg, the second-richest man in Russia, and Wilbur Ross, the U.S. billionaire who made money investing in Bank of Ireland Plc and sees opportunity in the stricken Cypriot lender. Almost half of the bank’s loans are souring, and capital controls, the only such restrictions in the euro area, are still in place. Ackermann, Ross says, is key.

http://www.bloomberg.com/news/2014-11-11/banks-said-poised-to-settle-with-cftc-in-fx-rigging-cases.html

Banks suspected of rigging the $5.3 trillion-a-day currency market are preparing to reach settlements as early as this week with the main U.S. derivatives regulator, according to a person with knowledge of the cases.

The Commodity Futures Trading Commission may levy fines of about $300 million against each firm, depending on the level of their involvement, said the person, who spoke on condition of anonymity because deals haven’t been announced. It’s unclear how many firms may settle with the CFTC as U.K. and U.S. bank regulators prepare to levy related penalties this week, the person said.

There was no immediate response to an e-mailed request for comment from the CFTC after normal business hours. The New York Times reported late yesterday on the talks with the agency.

Investigations are under way on three continents as authorities probe allegations that dealers at the world’s biggest banks traded ahead of clients and colluded to rig benchmarks used by pension funds and money managers to determine what they pay for foreign currencies.

The U.K. Financial Conduct Authority is poised to reach settlements as soon as this week with six banks, which together have set aside about $5.3 billion in recent weeks for legal matters including the currency investigations, people with knowledge of those talks have said.

http://www.bloomberg.com/news/2014-11-11/u-s-lags-g-7-in-bank-accounts-as-poor-can-t-build-assets.html

Marissa Austin Tobin has lived most of her 37 years without a bank account.

“I was irresponsible,” said Austin Tobin, who lives in Louisville, Kentucky. “I would pay my bills, but I would just spend the rest of my money.”

She needed to establish a financial history to qualify for a loan to start a catering business, so Austin Tobin opened accounts this year under a “Fresh Start” banking program that aims to help those who had mismanaged finances. Her savings, while still limited at about $500, are growing.

That’s not the case for some lower-income households as the world’s largest economy lags behind other developed nations in banking participation. The share of the U.S. population 25 and older with a savings or checking account was 91 percent in 2011, lower than any other Group of Seven nation except Italy, based on the latest available World Bank data. That compares with 98 percent in Canada and the U.K. and 99 percent in Australia.

A less inclusive financial system cuts into people’s ability to prove creditworthiness and build assets, making it more difficult for households to get ahead. The costs of alternatives, including check-cashing operators, payday lenders and nonbank money-order suppliers, often borne by those without accounts, also exacerbate wealth inequality.

http://www.bloomberg.com/news/2014-11-11/brokers-attack-sec-s-plan-as-trojan-horse-designed-to-hurt-them.html

Wall Street brokers are in rebellion against a plan to test ways of encouraging more trading of the smallest U.S. stocks, saying the effort was hijacked by exchanges seeking an edge over their rivals.

The Securities and Exchange Commission’s pilot program is meant to spur trades in about 30 percent of publicly traded U.S. companies. One of its provisions -- called a trade-at rule -- is really a stealth attempt to hurt brokers that run private trading systems that compete with the likes of the New York Stock Exchange, representatives from JPMorgan Chase & Co. (JPM) and Citigroup Inc. (C) said yesterday at an industry conference.

“The exchanges who have a hand in this and seek to benefit from the onerous version of a trade-at basically put the screws to us,” Michael Masone, legal counsel for equities at Citigroup, said at an event sponsored by the Securities Industry and Financial Markets Association.

Supporters of the one-year pilot program, including lawmakers in Congress, say it will encourage market makers to buy and sell shares by making each transaction potentially more profitable. This, the theory goes, could stimulate initial public offerings because investment banks would have more money to bankroll research departments to tout newly public companies.

http://www.bloomberg.com/news/2014-11-11/goldman-partners-profit-from-no-fee-private-equity-funds.html

Of all the perks bestowed on those selected as Goldman Sachs Group Inc. (GS) partners this week, the most uncommon may be access to a private fund named for a street that stretches two blocks at the southern tip of Manhattan.

Goldman Sachs has brought back Bridge Street funds, which allow senior employees to invest alongside the bank in closely held companies without having to pay fees. First offered when the firm was a true partnership before going public in 1999, Bridge Street was restarted in 2011. This year’s fund raised more than $120 million from about half of the 400 partners.

Employee private-equity funds are one of the extras that make rewards at Goldman Sachs the envy of Wall Street. Chief Executive Officer Lloyd C. Blankfein received $125.9 million from the funds in the past five years, more than he was awarded in salary and bonuses over the same period, filings show.

“It’s consistent with Goldman’s past DNA and the DNA they want to have going forward,” said Alan Johnson, founder of New York-based compensation-consulting firm Johnson Associates Inc. “The big banks are no longer the pay leaders, no longer the masters of the universe, so they’ve got to be more creative.”

http://www.bloomberg.com/news/2014-11-10/barclays-hsbc-sued-by-u-s-soldiers-over-attacks-in-iraq.html

Barclays Plc, HSBC Holdings Plc and four other banks were accused in a lawsuit by U.S. soldiers of helping Iran process billions of dollars in transfers and finance terrorists who attacked Americans serving in Iraq.

Lenders including Standard Chartered Bank, Credit Suisse Group AG and Royal Bank of Scotland NV conspired with Iran and its banks to withhold certain data from transactions, enabling them to circumvent monitoring by U.S. regulators, the soldiers said in a complaint yesterday in federal court in Brooklyn, New York.

The conspiracy, dating back to 1987, provided Iran with a means to transfer at least $150 million to Hezbollah and other terrorist and militant groups, allowing them to carry out dozens of roadside bombings and other attacks against the U.S. military, according to the complaint.

“This is a lawsuit that could materially alter the U.S. banking landscape,” Sandy Chen, an analyst at Cenkos Securities Plc in London, said in a note to clients. “If these allegations are shown to be true, an avalanche of anti-terrorism legislation would tumble upon these non-U.S. banks” including a “possible suspension of U.S. banking licenses,” he added.

Let's see the 1% scramble to plug that little loophole...it's law, you say, not a loophole?

Well, maybe a few trillion will fix it.

http://www.bloomberg.com/news/2014-11-10/biggest-u-s-trade-mission-shows-egypt-back-in-favor-after-rift.html


The U.S. sent its biggest-ever trade delegation to Egypt, the latest sign that the allies have repaired the rift that followed the army’s ouster of an elected president last year.

Executives from about 70 companies, including Apache Corp. and Coca-Cola Co., held talks with officials in Cairo to explore opportunities in a country struggling to recover from more than three years of unrest. The mission, organized by the U.S. Chamber of Commerce, also met with President Abdel-Fattah El-Sisi, the former general who was elected in May after leading the overthrow of his Islamist predecessor, Mohamed Mursi.

The U.S. cut some of its annual $1.3 billion military aid to Egypt after the army takeover, though without labeling it a coup. The American position has softened amid efforts to build a regional alliance, which El-Sisi’s Egypt has vowed to join, against Islamist militants. Secretary of State John Kerry said in June that full aid would resume soon.

The reconciliation has angered rights activists who blame El-Sisi for the harshest crackdown on freedoms and political dissent in decades. The U.S. trade mission is “deeply troubling,” according to Sarah Leah Whitson, director of the Middle East and North Africa at Human Rights Watch.

http://www.bloomberg.com/news/2014-11-10/asian-futures-rise-amid-s-p-500-record-gold-holds-losses.html

European stocks rose as Vodafone Group Plc led telecommunications companies higher on better-than-estimated results. The yen weakened to a seven-year low and the ruble dropped for the first time in three days.

The Stoxx Europe 600 Index advanced 0.4 percent by 6:51 a.m. in New York. Standard & Poor’s 500 Index futures added 0.1 percent after the gauge closed at a record. The yen slid after the Yomiuri newspaper said Prime Minister Shinzo Abe may call a snap election if he scraps a planned sales-tax increase. Russia’s currency lost 1.7 percent against the dollar. Shanghai trading surged to a record, more than double the amount on the New York Stock Exchange yesterday, before the start of an exchange link with Hong Kong next week.

Vodafone gained the most in more than a year after reporting a smaller decline in service revenue than analysts forecast. Abe said today in Beijing that he hasn’t decided on the timing of an election. U.S. equity indexes have risen to records amid signs the economy is weathering a global slowdown and the end of the Federal Reserve’s bond purchases. Treasuries trading is closed today for a holiday.

“Company earnings are running reasonably well and markets have seen them, at least on the margin, as reassuring,” Raimund Saxinger, who helps oversee $22 billion as a fund manager at Frankfurt-Trust Investment GmbH, said in a phone interview. “There is some underlying strength in the global economy and we are not on the brink of recession or deflation.”