Sony Corporation (NYSE:SNE) today reported its first annual profit for the last five years owing a great deal to weakening of the yen. However, expecting the same trend to continue in the coming quarters is questionable. The electronics and entertainment company posted a net profit of ¥43 billion, or $435 million at the current exchange rate for the year ended in March, versus the loss of ¥456.7 billion a year earlier. Sales for the year...
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With these large banks like Danske Bank you have a definite problem: Crossholding – where A owns B that owns C which owns A. That is one way of pumping up equity. This extends to loans where A lends B etc. and guarantees. As to assets you don’t have a clue: They depend on the state of impairment. That is why the Basel III rules prescribe somewhat objective measures for what a “bad” loan...
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A helpful infographic for soon-to-be parents. The Importance of Childhood Education infographic from SchoolTutoring Academy takes information about kids with early childhood education and attention and compares them to kids who did not. But it isn’t all bad news for moms, the infographic gives a few tips on how to survive being a stay-at-home mom as well as some positive job information. Then see how the United States matches up with other countries on early childhood...
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I’ve just had occasion to look into the IMF: DENMARK STAFF REPORT FOR THE 2012 ARTICLE IV CONSULTATION Dated: December 20, 2012 From what I’ve been able to skim, the report is very useful for insomniacs. But what caught my attention was the authors of the report. Discussions took place in Copenhagen from October 25 through November 5, 2012. The staff comprised Mr. Dorsey (head), Mmes. Batini, Mordonu, Xiao, and Zoli (all EUR). Mr....
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Latvia is joining the Euro! Frankfurter Allgemeine Zeitung has: The criteria: The deficit is at 1½% – well under the criteria of 3%. Public debt is 42% – again safely under the allowed 60%. It has had its currency bolted to the EUR since 2005 – which is more than 2 years. The 10 year sovereign bond at 3½% interest and the emergency loan paid back 2 years ahead of time. Inflation is the...
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Jim Chanos is famous for his active shortselling. Jim Chanos has had many great calls, so this is as good a time as any to take a look at the companies he is shorting in Europe. His hedge fund, Kynikos Associates, manages $6 billion, only $255 million are disclosed as public long positions in US. Chanos has repeatedly said he is bearish on Chinese companies across the board, so his major shorts could be...
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Elekta AB (STO:EKTA-B), the Sweden based modern medical technology company, has been getting a lot of attention from short sellers around the world. So far twelve firms, mostly hedge funds, have disclosed a short in Elekta AB (STO:EKTA-B) to Swedish Financial Supervisory Authority, Finansinspektionen. To know all the firms that hold a short position in Elekta, visit our page with the most updated information about European Short Positions. Morton Holdings just covered their entire position in the...
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The EU budget. JyllandsPosten has: The Danish PM Helle Thorning-Schmidt stands firm on her demand that Denmark gets a 1 bio. DKK discount in the contribution to the EU budget. The most known discount is the British that Margaret Thatcher once extorted swinging her famous handbag. That is just one of a multiple of discounts that has been institutionalised over the years. Denmark being one of the few countries left that hasn’t any one – Germany...
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In the latest disclosures and updates from European short positions, another investment firm disclosed a short position in Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) in Finland. Fore Research and Management revealed a 0.53 percent position in the cellular phone company. A total of 13 hedge funds are shorting the Finnish company now and none have covered it to below 0.5 percent yet. To know which of Julian Robertson’s Tiger cubs are shorting Nokia, click here. It...
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Sweden, is it an economic Mecca? First of all the financial side: Sweden has four banks which are as big as Danske Bank A/S (CPH:DANSKE) (PINK:DNSKY) –and even more ”international” as Danske Bank. Finnish banking is mainly Swedish. The banks had a severe crisis in the 1990′s with significant government intervention – even ownership. That crisis has never really been resolved – which can be seen on the housing market as well. Undoubtedly, the...
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In a recent NATIXIS research report, “The Swedish exception,” it notes that the country is an exception to the European Union on more than one level, thanks to its sound public finance and firm economic activity. Looking at its growth structure performance over the last decade, as its domestic demand increased in strength, can explain Sweden’s performance and it should enable its GDP to rise at a modest but healthy pace in 2013-2014; this will outperform the...
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