The following are the overnight top stories: (Source: Bloomberg) 1. Microsoft Said to Be Preparing to Make Satya Nadella CEO (1) 2. Japanese Stocks Rebound as Yen Holds Drop While Rubber Advances 3. Google Revenue Tops Estimates as Retail Ads Bolster Sales (3) 4. Keystone XL Report Said to Disappoint Pipeline Foes on Climate 5. Rajan Warns of Policy Breakdown as Emerging Markets Fall 6. Worst Bonds Lure Investec to Long-End Value: South Africa Credit 7. ANC Reject Malema Stirs South Africa Politics by Wooing Poor 8. Clicks First-Half Sales Slow as South Africans Delay Buying 1) Microsoft Said to Be Preparing to Make Satya Nadella CEO (1) Microsoft Corp.’s board is preparing to make Satya Nadella, the company’s enterprise and cloud chief, chief executive officer and is discussing replacing Bill Gates as chairman, according to people with knowledge of the process. One person the board is considering to take the place of co-founder Gates as chairman is Microsoft lead independent director John Thompson. 2) Japanese Stocks Rebound as Yen Holds Drop While Rubber Advances Japanese equities rallied, with the Nikkei 225 Stock Average paring the worst monthly slide among developed markets as inflation accelerated and the yen held declines versus the dollar. Asian emerging-market currency forwards strengthened as rubber climbed. The Nikkei 225 added 0.4 percent by 10:20 a.m. in Tokyo as the broader Topix Index rose 0.6 percent. 3) Google Revenue Tops Estimates as Retail Ads Bolster Sales (3) Google Inc. posted fourth-quarter sales that topped estimates as retailers spent more on advertising during the holidays, making up for lower ad prices. Revenue, excluding sales passed on to partner sites, rose 11 percent to $13.6 billion, while profit excluding certain items was $12.01 a share, the company said in a statement today. 4) Keystone XL Report Said to Disappoint Pipeline Foes on Climate The U.S. State Department is preparing a report that will probably disappoint environmentalists and opponents of the Keystone pipeline, according to people who have been briefed on the draft of the document. While the report will deviate from a March draft in some ways to the liking of environmentalists, the changes won’t be as sweeping as they had sought. 5) Rajan Warns of Policy Breakdown as Emerging Markets Fall India central bank Governor Raghuram Rajan warned of a breakdown in global policy coordination after the Federal Reserve further cut stimulus, weakening emerging- market currencies from the rupee to the Turkish lira. Rajan, a former chief economist at the International Monetary Fund, called for greater cooperation among policy makers. 6) Worst Bonds Lure Investec to Long-End Value: South Africa Credit South African bond yields at the highest in almost three years are attractive at longer maturities because rising interest rates will curb growth and slow inflation, according to Investec Asset Management. The nation’s bonds due in more than 10 years lost 2.7 percent this month, the worst performance among indexes tracked by Bloomberg. 7) ANC Reject Malema Stirs South Africa Politics by Wooing Poor To chants of his nickname, “Juju, Juju,” Julius Malema strode by women blowing kisses and men raising clenched fists as he campaigned to whip up support for this year’s election with a call to nationalize South Africa’s mines, banks and land. 8) Clicks First-Half Sales Slow as South Africans Delay Buying Clicks Group Ltd., a South African beauty and pharmaceutical retailer, said first-half sales slowed as consumers held off major shopping trips to take advantage of January discounts. Sales climbed 11.6 percent to 7.7 billion rand ($679 million) in the 21 weeks through Jan. 19, with selling price inflation of about 3.5 percent, the Cape Town-based company said in a statement today.
Posted on: Fri, 31 Jan 2014 06:45:10 +0000
Trending Topics
Recently Viewed Topics
© 2015