Blog Posts by Aaron Task

  • Bewkes Says TV Can Withstand `Not That Good' Netflix

    Ask the world’s biggest broadcasters what they think of Netflix Inc., and they’ll tell you it just isn’t that great.

    Time Warner Inc. Chief Executive Officer Jeff Bewkes took the stage at a cable conference in Amsterdam Thursday to boast that his HBO is better than Netflix, saying investors are overreacting to the possibility that consumers will abandon television to watch shows online. Executives from Liberty Global Plc to ProSiebenSat.1 Media SE chimed in to say broadcasters’ traditional business still has room to grow, and their up-and-coming online offerings can compete.

    “Netflix is good, but not that good,” Bewkes said. “The pessimism in the market about the sector is overdone -- our industry will figure out how to take content and sell it on demand.”

    More from Bloomberg.com: BlackRock Sees Yuan Drop as Wakeup Call for China Debt Hedging

    Media stocks tumbled this month after Walt Disney Co. posted disappointing results that underscored the biggest concern for media investors: the

    Read More »from Bewkes Says TV Can Withstand `Not That Good' Netflix
  • A major operation to spot-check people's visas on the streets of Melbourne as part of a crime crackdown was cancelled on Friday after sparking community outrage that Australia risked becoming "a police state".

    The controversy erupted after the Australian Border Force (ABF) released a statement on Friday saying its officers would join police and transport officials at various locations this weekend to speak "with any individual we cross paths with" to identify visa fraudsters.

    "You need to be aware of the conditions of your visa; if you commit visa fraud you should know it’s only a matter of time before you’re caught out,” said ABF Regional Commander for Victoria and Tasmania, Don Smith.

    The ABF, part of the Immigration Department, said the focus would be on people travelling to, from and around the city "targeting everything from anti-social behaviour to outstanding warrants".

    But the news spurred an online storm with users questioning how they would decide who to stop and whether it

    Read More »from Australian visa check operation dumped after community outrage
  • I’m not a Dumper of the Renminbi: Rogers

    Rogers Holdings Chairman Jim Rogers, Panmure Gordon Chief Economist Simon French and Bloomberg Intelligence Chief Economist Jamie Murray discuss the global impact of the yuan devaluation with Caroline Hyde on "Countdown." (Source: Bloomberg)

    More from Bloomberg.com

    • Rate Hikes: The Battle Between September or December
    • Bears Circle Swiss Stocks Already Slammed by Franc, China Slump
    • China’s Stock Rout to Resume as Intervention Ends, Says BofA

    Read I’m not a Dumper of the Renminbi: Rogers on bloomberg.com

  • Rate Hikes: The Battle Between September or December

    Aug. 28 (Bloomberg) –- Standard Chartered G10 Foreign Exchange Strategist Eimear Daly and Panmure Gordon Chief Economist Simon French discuss U.S. and U.K. interest rates and the euro becoming a safe haven during the selloff. They speak to Bloomberg's Caroline Hyde on "Countdown." (Source: Bloomberg)

    More from Bloomberg.com

    • Bears Circle Swiss Stocks Already Slammed by Franc, China Slump
    • China’s Stock Rout to Resume as Intervention Ends, Says BofA
    • Japan's Biggest Leveraged ETF Maxed Out Amid Stocks Rebound

    Read Rate Hikes: The Battle Between September or December on bloomberg.com

  • Greece geared up for its fifth election in six years with a poll Friday showing leftist leader Alexis Tsipras in the lead for re-election despite a wave of defections from his Syriza party.

    "Today the great electoral battle begins. The Greek people will give a strong mandate for the present and the future," Tsipras said in a statement to Avgi, the Syriza daily.

    "Greece cannot turn back and will not turn back. It will only go forward," said Tsipras, who was elected on an anti-austerity ticket in January but now seeks re-election to apply fresh cuts.

    A poll in leftist Efimerida ton Syntakton daily gave Syriza a 3.5-point lead over conservative New Democracy, even though a majority of voters disapprove of the snap ballot.

    The survey by pollsters ProRata said 23 percent of voters would support Syriza over 19.5 percent for New Democracy.

    But another 25.5 percent of respondents are undecided.

    Greece's President Prokopis Pavlopoulos on Thursday appointed the country's top judge as caretaker

    Read More »from Poll sees Tsipras in lead as Greece gears up for elections
  • Malaysia PM criticises upcoming demonstration

    Malaysia's Prime Minister Najib Razak on Friday criticised organisers of a weekend protest demanding his ouster, saying the timing and venue of the demonstration would clash with independence day parade rehearsals.

    "If you want to gather and demonstrate, do not trigger a provocation," Najib said in a statement posted on his blog.

    "Whatever the disagreements or misunderstandings between us, national day should not be a stage of political disputes."

    The former British colony will be celebrating its 58th anniversary of self-rule next Monday with a parade at a historic field in the capital called Independence Square, with rehearsals taking place this weekend.

    Bersih, Malaysia's leading alliance of independent NGOs, rights groups and reform advocates, vows to bring out tens of thousands of people in the capital Kuala Lumpur and two other cities on Saturday and Sunday.

    In his first remarks over the protests, Najib also implied that the clash in timing and the venue of the protests would be

    Read More »from Malaysia PM criticises upcoming demonstration
  • European stocks rise at open

    Europe's stock markets opened higher Friday following strong gains across Asia inspired by revised second quarter figures in the US indicating better economic growth than previously thought.

    In initial trade, London's benchmark FTSE 100 index gained 0.24 percent to 6,207.05 points.

    In the eurozone, Frankfurt's DAX 30 edged up 0.20 percent to 9,687.70 and the CAC 40 in Paris crept 0.12 percent higher to 4,663.98 points.

    European markets rebounded Thursday on comments from Federal Reserve officials throwing doubt on prospects of a US interest rate rise in September -- news that allowed traders to put on hold fears about flagging Chinese growth that had battered markets all week.

    Later in the day, revised statistics showing the US economy grew at an annual rate of 3.7 percent rather than previous estimates of 2.3 percent sent stocks in Europe and on Wall Street higher -- momentum that has carried into trading Friday.

    Asian stocks extended their rally Friday on the back of the strong US

    Read More »from European stocks rise at open
  • Any takers for half-price Glencore shares?

    Glencore is a business built on its executives' ability to read markets.

    They proved how good they were at it in 2011 by persuading investors to pay 530p a share in the initial public offering, but since then it has been downhill all the way, and not just for the share price. This week's market slump exposed the fragility of its model, questioning whether CEO Ivan Glasenberg and his executives really know what they are doing.

    As a private company Glencore had an awesome reputation, but in December 2008, at the height of the last financial panic, the spread on its money market paper suddenly ballooned out past 3,000 basis points, usually considered the point where the issuer is a goner.

    Glencore wasn't, but its executives had looked over the edge. They concluded that they needed permanent capital, and the IPO was the end result. Last August, having swallowed Xstrata, Glencore launched a $1bn share buyback, and by March all the money had been spent at either side of £3 a

    Read More »from Any takers for half-price Glencore shares?
  • Celine Dion returns to Las Vegas stage

    After a year-long break, Celine Dion returned to the stage in Las Vegas Thursday.

    Dion opened a new show at The Colosseum at Caesars Palace, after putting her career on hold last summer to take care of her ailing husband Rene Angelil who underwent surgery for throat cancer.

    New updates to the show include a montage video clip of fans around the world as well as tributes to Elvis and Queen.

    Dion has a long history with The Colosseum, having opened the venue in 2003. Since then, the Canadian singer has performed 927 shows.

    Dion is set to perform in 40 more shows until her run ends in January, 2016.

    Her new studio album is due for US release Nov. 5.

  • The Lombard Odier Group Reports Results for the First Half of 2015

    GENEVA, August 28, 2015 /PRNewswire/ --

     

    • Total client assets on 30 June 2015 amounted to CHF 209 billion, of which assets under management were CHF 155 billion 
    • Net inflows were positive across all business lines 
    • Consolidated net profit amounted to CHF 70 million, up 12% vs half year 2014 
    • Fully-loaded Basel III CET1 ratio stood at 22.7%  

    Client assets evolution  

    The de-pegging of the Swiss franc in January 2015 and the subsequent changes in the relative values of the euro and US dollar led to a decrease in total client assets, which was partially offset by the positive contributions of market performance and net inflows from each of our three business lines during the first six months of the year.

    As a result total client assets stood at CHF 209 billion at the end of June 2015. Client assets in the private clients business amounted to CHF 112 billion, while asset management clients invested CHF 47 billion with Lombard Odier Investment Managers and technology & banking services

    Read More »from The Lombard Odier Group Reports Results for the First Half of 2015

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