Yusup Sertip

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Russia faces 'perfect storm' as reserves vanish and derivatives flash default warnings

BNP Paribas says Russia no longer has enough reserves to cover external debt and enters this crisis 'twice as levered' as it was before the Lehman crash<p>Russia’s foreign reserves have dropped to the lowest level since the Lehman crisis and are vanishing at an unsustainable rate as the country …

How $40 oil would impact Canada’s provinces

What does Canada's economy look like with oil prices at $40 a barrel? Certainly it won't be the energy superpower envisioned by Prime Minister Stephen Harper.<p>If $40 a barrel still seems a ways off, consider that the benchmark price for oil sands crude is already trading in that price range. What's …

After banner fiscal results, Air Canada set to begin talks with Unifor

As Air Canada basks in the glow of a record financial performance, one of its largest unions will seek to make up some ground its members lost more than a decade ago when the airline was in bankruptcy protection.<p>Negotiations will begin Jan. 26 between Air Canada and Unifor, which represents about …

Four fine cheeses that pair beautifully with Champagne

This year I'd like to propose a toast to throwing all cheese-board rules out the window. Let's forget about having one cheese from each style of milk: a soft, a hard, a kid-friendly option. For the 2012 holiday board I want decadence, reward and indulgence. Bring out the French cheese and …

LinkedIn beats estimates, but stock falls on disappointing sales forecast

Linked posted slightly better sales and earnings in the first quarter but the professional social network's shares still fell in after-hours trading after a revenue forecast that disappointed expectations.<p>The company spooked investors with a revenue forecast of $500 million to $505 million in the …

Markets

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Canadian, World, Politics and Business News & Analysis

Business (Canada)

Facebook shares fall 7% on Oculus deal

SAN FRANCISCO -- The reality of Facebook's $2-billion-plus acquisition of Oculus VR set in on Wall Street on Wednesday, dragging down Facebook shares and the Nasdaq.<p>Facebook fell nearly 7% to $60.38 one day after it announced its second blockbuster acquisition this year. Last month the giant social …

Lone Wu-Tang Clan Album Could Fetch Millions

The hip-hop group Wu-Tang Clan is doing something unprecedented in the music industry — it will sell only one copy of its new 31-track double album "The Wu-Once Upon a Time in Shaolin," which the group recorded in secret.<p>According to the album's website, the production features guest appearances by …

Keystone decision delayed yet again

The Obama administration says it is indefinitely extending its long-awaited review of the Keystone XL pipeline — providing a Good Friday jolt to one of the president’s most wrenching environmental decisions.<p>The move could easily push President Barack Obama’s final decision past the November …

Why flying 'Internet drones' over Africa is a dumb, libertarian fantasy

When I arrived in a West African newsroom last year to help with a journalism training initiative, one of the first things to come up was my BlackBerry Bold.<p>Despite what the foolish #firstworldproblems hashtag on Twitter would have you believe, my phone was probably the most out of date there. …

UEFA Investigating 76 Clubs for Financial Fair Play Rules Violations

With the 2013-14 football season nearing its latter stages, UEFA has announced it will investigate 76 European clubs to determine whether they are in compliance with financial fair play rules.<p>According to Martyn Ziegler of Press Association, roughly one-third of the 237 eligible clubs will be …

Comcast's $45 Billion Purchase Of Time Warner Cable Is Trouble For Apple TV

After years of rumors, speculation, and wishing, we got two solid reports that said Apple was really ready to launch a full-on TV product .<p>Both the Wall Street Journal , and Bloomberg said Apple was planning to release an Apple TV this year. Bloomberg predicted an April reveal, and the WSJ …

Set-Top Boxes

Coupons.com Files For $100M IPO On The NYSE, Trading As Coup

The march of the 2014 initial public offerings commences, with the latest one of the oldest brands on the internet. Coupons.com has just filed S-1 papers with the SEC for an IPO on the NYSE, trading under the name COUP, and raising $100 million.<p>Goldman, Sachs & Co., Allen & Company LLC, BofA …

Earnings Miss Sends MasterCard Stock Lower

To celebrate superstar Justin Timberlake’s birthday last week MasterCard gave some cardholders “Priceless Surprises” including free cupcakes and even a visit from the man himself. Today MasterCard announced a less welcome surprise when it reported somewhat weaker than expected fourth quarter …

The Turkish Lira: Why Academics Make Bad Traders

When it comes to markets, there’s academic theory—and then there’s the real world.<p>This week, we saw a prime example of how markets can be counter-intuitive, and why so often, those who follow the traditional academic theories often make very bad traders. You see, when the central banks of both …

Turkish central bank makes massive rate hikes to stem lira fall

ISTANBUL (Reuters) - Turkey’s central bank hiked all its key interest rates in dramatic fashion at an emergency midnight policy meeting, ignoring opposition from Prime Minister Tayyip Erdogan as it battles to defend the country’s crumbling lira currency.<p>The bank raised its overnight lending rate to …

Income Inequality Was Quickly Forgotten at Davos

"It kind of disappeared," said one woman at the end of the World Economic Forum when someone asked what happened to perhaps the greatest issue facing …

Goldman Sachs pays employees average of $383,000 after profits rise 5%

Goldman Sachs paid its bankers an average of $383,000 (£233,000) in 2013, after profits for the year rose by 5% to $8bn.<p>Putting a fresh focus on the debate over bankers' pay, Goldman's 32,900 global employees will be told the size of their individual bonuses on Thursday.<p>The bank set aside $2.19bn …

Major city budgets fail to reflect actual spending, report says

Canada's major cities are failing to reflect actual spending in their annual budgets, according to a report by the C.D. Howe Institute.<p>The 24-page document, released Wednesday, which compares the budgets of 24 cities from 2003 to 2012, shows that some municipalities appear to overspend, or …

Is Hong Kong facing a property collapse?

Hong Kong is home to some of the most expensive properties in the world and some analysts are warning its real estate market is overheated.<p>Buying a home has become even less affordable than before the last property bubble burst in 1997.<p>Investment from mainland China is helping to fuel the rise and …

Hong Kong

So You Missed The Entire Stock Market Rally — Here's What You Should Do Now

The S&P 500 had its largest gain 16 years and returned 30% to investors. The Dow had its biggest gain in 18 years.<p>But many investors still reeling from the financial crisis, chose to stay on the sidelines and missed out on one of the biggest years for the stock market.<p>In fact, a recent Gallup …

Investing

Mongolian Stock Exchange Opens To Institutions, ETFs And Mutual Funds

Mongolia is a country with natural resource wealth that holds sizable per capita GDP possibilities for a national population of roughly 3 million people. Since the discovery of the world class Oyu Tolgoi copper-gold mine in 2001, Mongolia has had a back and forth struggle between populist national …

This One Chart Shows Why We Shouldn’t Fear Another Real Estate Meltdown

The Housing market had a great year in 2013, with the last reading of the Case-Shiller housing index showing a more than 13% appreciation of home …

Bitcoin’s Future Foretold By Developer Momentum

If you think developers predict the future then there is more reason to believe that Bitcoin is the real deal. The crypto currency is a hit with developers, according to data collected on GitHub by the founders of Bitcoin Pulse, a service recently launched that tracks Bitcoin adoption.<p>Bitcoin Pulse …

Wall Street inks first negative start to a year since 2008

U.S. stocks fell sharply on Thursday, with Wall Street recording its first negative start to a year in six, as a downgrade of Apple hit technology …