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(27-04-2011)
  • Bridgewater's Dalio calls report about feud with Jensen overblown

    Dalio, Chairman and Chief Investment Officer of Bridgewater Associates gestures at the Ending the Experiment event in the Swiss mountain resort of DavosRay Dalio, founder of Bridgewater Associates LP, the world's largest hedge fund, said on Friday that a Wall Street Journal story about a dispute with his heir apparent, Greg Jensen, was overblown. The newspaper reported that Dalio and Jensen had gone as far as to call for a dozen senior employees and stakeholders to vote on their character and conduct in a bid to resolve the dispute. "Greg and I have had lots of disputes over the last 20 years, and what's great is that we have a systematic process for working ourselves through them," he added in a statement.


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  • Technology rout pushes Nasdaq to lowest close since 2014

    Traders work on the floor of the New York Stock ExchangeThe Nasdaq Composite that includes large-cap technology names like Alphabet, Microsoft and Facebook led another broad rout on Wall Street Friday, closing at its lowest level since October 2014. U.S. stocks are trading above the lows hit during the January rout, but bulls have failed to gain traction, with many rallies evaporating before the close.


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  • LinkedIn sheds $11 billion in value on stock's worst day since debut

    The logo for LinkedIn Corporation, a social networking website for people in professional occupations, is pictured in Mountain ViewLinkedIn Corp's shares closed down 43.6 percent on Friday, wiping out nearly $11 billion of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations. The rout in the stock cost LinkedIn chairman Reid Hoffman about $1.2 billion based on his 11.1 percent stake in the company he co-founded, according to Reuters calculations. At least nine brokerages downgraded the stock to "hold" from "buy", saying the company's lofty valuation was no longer justified.


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  • Bridgewater's Dalio calls WSJ article 'sensationalistic mischaracterization'
    Bridgewater Associates' Ray Dalio said in a statement late Friday that the Wall Street Journal's article about a dispute between him and his heir apparent, Greg Jensen, was overblown. The Wall Street Journal had no immediate response.More

  • TSX dips with weaker technology stocks; gold shares cushion losses

    A man walks past an old Toronto Stock Exchange sign in TorontoBy Fergal Smith TORONTO (Reuters) - Canada's main stock index dipped on Friday as a selloff in U.S. technology stocks spilled over to Canada's technology sector, but defensive names such as gold stocks helped cushion losses. Canadian stocks held up better than those on Wall Street despite a weak Canadian jobs report. Indeed, Canada's market has fallen less than 2 percent since the start of 2016, comparing favorably to the 8 percent drubbing suffered by the S&P 500 over the same period.


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  • Will Bernie Sander’s Foreign Policy Stumbles Derail His Campaign?

    Will Bernie Sander’s Foreign Policy Stumbles Derail His Campaign?Did Sen. Bernie Sanders have a Ben Carson moment during Thursday night’s debate with Hillary Clinton in New Hampshire? On most topics — from income inequality and the sins of Wall Street to healthcare reform and education — the 74-year-old democratic socialist is passionate and well-versed in making his case for a revolutionary approach to government. Max Fisher at Vox — in what was ultimately a defense of Sanders — described just how poorly the candidate fared on foreign policy questions: “now that he's a much more serious candidate, you'd like to think he would have given even just a few minutes' thought to his potential future leading the foreign policy of the most powerful country in human history.


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  • Global stocks fall after U.S. jobs report muddles Fed outlook

    A man riding on a bicycle looks at an electronic board showing the stock market indices of various countries outside a brokerage in TokyoBy David Gaffen NEW YORK (Reuters) - Global stock markets slumped and the U.S. dollar rallied on Friday after a key U.S. jobs report painted a mixed picture of the labor market and left investors with a muddled view on interest rate hike prospects. Wall Street ended lower, led by plunging technology shares after poor results from data company Tableau Software and networking platform LinkedIn. The S&P 500 information technology sector fell 3.4 percent, while the Nasdaq Composite Index slumped to its lowest close since October 2014.


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  • Leaders at Bridgewater Associates in apparent feud: WSJ

    Dalio, Chairman and Chief Investment Officer of Bridgewater Associates gestures at the Ending the Experiment event in the Swiss mountain resort of DavosTwo top executives at Bridgewater Associates LP, the world's largest hedge fund, want a dozen senior employees and stakeholders to vote on their character to help resolve an apparent dispute between them, the Wall Street Journal reported on Friday. Citing people familiar with the matter, it said Bridgewater founder Ray Dalio and his presumed heir apparent, Greg Jensen, were asking the firm's management and stakeholders to take a stand in the vote about each other's conduct. Dalio, who founded Bridgewater in 1975, is specifically questioning whether or not Jensen has "integrity" - defined in a 123-page treatise written by Dalio as never saying something about a person that you wouldn't tell the person directly.


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  • LinkedIn shares dive more than 40 pct, $11 bln wiped out

    The logo for LinkedIn Corporation, a social networking website for people in professional occupations, is pictured in Mountain ViewLinkedIn Corp's shares plunged as much as 43 percent on Friday, wiping out nearly $11 billion of market value, after the social network for professionals shocked Wall Street with a revenue forecast that fell far short of expectations. The stock sank to a three-year low of $109.50, registering its sharpest decline since the company's high-profile public listing in 2011. At least seven brokerages downgraded the stock from "buy" to "hold" or their equivalents, saying the company's lofty valuation was no longer justified.


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  • Wall Street Weekahead - For Coke and Pepsi, Super Bowl is market share play

    Traders work on the floor of the New York Stock ExchangeBy Noel Randewich SAN FRANCISCO (Reuters) - Coca-Cola Co, PepsiCo and other consumer-facing companies spending big bucks to advertise during Sunday's Super Bowl football extravaganza will be making a play for more market share to offset a slow economy and less overseas revenue. In the year since the last Super Bowl, shares of companies selling everyday consumer products like food and cleaning supplies have outperformed most other sectors, partly because they are seen as relatively safe bets in world of growing macroeconomic worries. Coca-Cola and PepsiCo are set to report December-quarter results on Tuesday and Thursday, respectively.


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  • Accused "flash crash" trader Navinder Sarao's actions not a crime in UK, court hears

    Navinder Sarao arrives at Westminster Magistrates' Court in LondonBy Michael Holden LONDON (Reuters) - A London-based trader, accused by the U.S. of contributing to the 2010 Wall Street "flash crash", should not be extradited because the offences he is accused of are not crimes in Britain, his lawyers said on Friday. Navinder Sarao also had only a "gossamer thin" link to the 2010 market plunge, his lawyer Joel Smith told London's Westminster Magistrates Court. "Anybody who knows anything seems to be saying (it's) nothing to do with Mr Sarao," Smith said.


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  • Accused 'flash crash' trader's actions not a crime in UK, court hears

    Navinder Sarao leaves Westminster Magistrates' Court in LondonBy Michael Holden LONDON (Reuters) - A London-based trader, accused by the U.S. of contributing to the 2010 Wall Street "flash crash", should not be extradited because the offences he is accused of are not crimes in Britain, his lawyers said on Friday. Navinder Sarao also had only a "gossamer thin" link to the 2010 market plunge, his lawyer Joel Smith told London's Westminster Magistrates Court. "Anybody who knows anything seems to be saying (it's) nothing to do with Mr Sarao," Smith said.


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  • Scandal-hit VW postpones earnings release, annual meeting

    FILE - In this Sept. 26, 2015 file photo a giant logo of the German car manufacturer Volkswagen is pictured on top of a company's factory building in Wolfsburg, Germany. Volkswagen says it is postponing release of its full-year earnings as well as its annual shareholder meeting due to open questions about its diesel emissions scandal. The company said Friday Feb. 5, 2016 it would give new dates for the earnings release, formerly slated for March 10, and for its shareholder gathering originally set for April 21. (AP Photo/Michael Sohn, file)FRANKFURT, Germany (AP) — Volkswagen says it is postponing release of its full-year earnings as well as its annual shareholder meeting due to open questions about its diesel emissions scandal.


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  • Halma's CenTrak acquisition to boost earnings, says Investec
    (ShareCast News) - Halma's shares climbed on Friday as Investec said its acquisition of CenTrak will add to revenue and profit growth in 2016.More

  • BG Earnings Fall Sharply On Oil Price Slump

    BG Earnings Fall Sharply On Oil Price SlumpOil and gas exploration giant BG has reported a plunge in underlying earnings as it prepares for its £36bn takeover by Royal Dutch Shell (Xetra: R6C1.DE - news) . Earnings fell 58% to $1.7bn (£1.2bn) as the company was weighed down by the slump in world oil and gas prices. But chief executive Helge Lund said the group's performance was in line with or ahead of expectations.


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  • BG Earnings Plunge By 39% On Oil Price Slump

    BG Earnings Fall Sharply On Oil Price SlumpOil and gas exploration giant BG has reported a plunge in underlying earnings as it prepares for its £36bn takeover by Royal Dutch Shell (Xetra: R6C1.DE - news) . Earnings fell 39% to $5.6bn (£3.9bn) as the company was weighed down by the slump in world oil and gas prices. But chief executive Helge Lund said the group's performance was in line with or ahead of expectations.


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  • UK spreadbetting firm CMC Markets valued at $1 billion in IPO

    Traders work on a dealing room floor at CMC Markets in the City of LondonBritish financial spreadbetting firm CMC Markets has priced its London stock market listing at 240 pence a share, it said on Friday. The price would value the company, run by Chief Executive Peter Cruddas, at 691 million pounds. "Our performance since the start of 2016 continues to be strong, helped by the ongoing market volatility, and we start our life as a public company well-positioned for continued growth," Cruddas, who favours Britain leaving the European Union, said in a statement.


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  • LinkedIn forecasts weak first quarter profit, shares plunge

    The logo for LinkedIn Corporation, a social networking networking website for people in professional occupations, is shown in Mountain ViewLinkedIn Corp forecast first-quarter revenue and profit below Wall Street estimates as growth slows in its ads business and its hiring services face pressure outside North America, dragging its shares down 28 percent after the bell. Online ad revenue growth slowed to 20 percent in the fourth quarter from 56 percent a year earlier as automated ads offered by Alphabet Inc's Google make its traditional ad displays less attractive to advertisers. LinkedIn has been spending heavily on expansion by buying companies, hiring sales personnel and growing its presence in China and other markets outside the United States as it tries to strengthen its core recruitment services business.


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  • Sanders Doubles Down on Clinton’s $675,000 Fees from Wall Street

    Sanders Doubles Down on Clinton’s $675,000 Fees from Wall StreetIn the only one-on-one debate before the New Hampshire primary next week, Hillary Clinton got a chance at what amounted to a do-over on her recent comments taking $675,000 in fees for giving three speeches to Goldman Sachs. Asked about the exorbitant payday during a town hall event in New Hampshire on Wednesday night, the former Secretary of State gave an almost glib reply: "I don't know. The response dominated the 24-hour news cycle with many observers, and Clinton’s rival for the Democratic nomination, Sen. Bernie Sanders (I-VT) chiding the comments as coming straight from the “establishment” wing of the party.


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  • News Corp's revenue falls for fourth quarter in a row

    Passers-by walk near the News Corporation building in New YorkNews Corp's revenue fell for the fourth quarter in a row, hurt by a stronger dollar and dwindling advertising revenue in its core news and information business, which includes the Wall Street Journal. Newspaper and magazine publishers have been under unabated pressure to offset a decline in print advertising dollars by shoring up their digital business to attract advertisers and by boosting subscriptions. News Corp, controlled by media mogul Rupert Murdoch, said revenue at its news and information unit declined 8.1 percent in the second quarter.


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