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Advanced Micro Devices, Inc. (NASDAQ: AMD) To Launch Zen For High-end Desktops

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Advanced Micro Devices

Advanced Micro Devices, Inc. (NASDAQ: AMD) will launch its highly awaited processor to high-end desktops by the end of 2016. As of now, the chipmaker is in discussions with prominent PC manufacturers on developing Zen-based chips with the code name Summit Ridge. This is according to AMD CEO, Lisa Su.

The Zen chips are expected to be in servers by the first quarter of next year. However, there is no word from the company yet when they would be customized for laptops.

High expectations for AMD

AMD has set high expectations for its Zen processors. It has decided to combine the Polaris architecture-based GPUs with Zen to offer a high-end virtual gaming experience to its users, although the combo won’t be available until the middle of next year.

During the most recent earnings call, CEO Su expressed her confidence in the new products and said that it would help the company gain market share. At present, Intel dominates the market, however, Su hopes that with the introduction of AMD’s core processor Zen chips will present a formidable competition against next-generation Kaby Lake chips and the current Skylake from Intel Corporation (NASDAQ: INTC).

Currently, AMD is offering FX chips for gamers and Summit Ridge with up to eight cores. These desktop chips with a high-core count will support the latest DDR4 memory.

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IEA Warns More Trouble Ahead For Oil

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OPEC

In what can be seen as another setback for the hopes of the oil price recovery crowd, the International Energy Agency (IEA), has warned that the oil market will largely remain oversupplied until the end of the year.

Oil glut to remain in 2016

Keeping in view that the warm winter season across the globe has driven global oil demand growth to a low of 1 million barrels per day in the fourth quarter of 2015, IEA has kept its demand estimate for 2016 as is. The agency is anticipating oil demand of 1.2 million barrels per day.

The development further sparks concerns surrounding a possible oil rebound as OPEC has already refused to move away from full oil production. As a result, Brent crude futures hit a 13 year low at below $30 per barrel.

Some recovery in Brent and U.S. Futures

The IEA noted in its report that the year 2016 will be the third successive year of the oil glut, where supply will exceed the global demand by 1 million barrels per day. The agency has cut its 2016 OPEC crude oil demand projections by 300,000 bpd to 31.7 million bpd.

Meanwhile, Iran is firm on its plan to aggressively increase oil output in a bid to make the most following the lifting of Western sanctions. It is likely to pump in 500,000 bpd additional oil per day.

Amid the various developments, Brent crude futures recovered a bit to $29.89 level. U.S. crude futures traded up by 1.73% to $29.93 a barrel, indicating a rare premium over Brent.

iPath S&P GSCI Crude Oil Total Return (NYSEARCA:OIL) traded up by 2.19% to $5.61 during the previous session.

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How Tagging A Person on Facebook (NASDAQ: FB) Can Now Lead To Jail

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Andy Parker
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Facebook tagging

A woman in New York will face up to a one-year jail term after tagging her former sister-in-law on Facebook Inc (NASDAQ: FB). Maribel Calderon received a restraining order, which prohibited her from contacting her sister-in-law, Maria Gonzalez.

An average interpretation of a restraining order is generally that physical presence is the only chargeable offense. This is specifically what Calderon thought. She went ahead and used her Facebook account to post a status in which she tagged Gonzalez. In her post, she called Gonzalez “stupid” and went ahead to post that “you and your family are sad”. She concluded that “I’m way over you guys, but I guess not in ya agenda”.

Calderon may have forgotten that this is the 21st century, and that common law has seeped into social media. One previous example is Germany’s high court, which recently ruled that Facebook’s friend finder feature violates privacy laws.

During Calderon’s case, which was presided over by Westchester County Supreme Court Justice Susan Capeci, it was ruled that contact via Facebook is still a violation of a restraining order.

Therefore, the fact that Caldron only contacted the victim through social media is still sufficient to establish a violation of protection. This ordeal resulted in Calderon being charged with second-degree criminal contempt with the possibility of landing her in jail for up to one year.

As the digital space is becoming one of the main methods of communication, courts are taking online messages seriously, and such communication is being regarded as a form of contact. Calderon’s case is not the first case that a judge has refused to dismiss despite communication being only in digital form. In 2008, a judge declined to dismiss a criminal complaint after a person sent a friend request through MySpace after a no-contact order had already been issued. During 2009, a woman from Tennessee was arrested for using Facebook’s poke on a person she had been banned from contacting.

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Philip Morris International Inc. (NYSE: PM) Faces Accusation Of Tax Evasion

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Philip Morris

The Thai government’s Department of Special Investigations is accusing Philip Morris International Inc. (NYSE: PM), a leading cigarette manufacturer, of failing to declare the value of cigarettes imported from the Philippines, thereby avoiding close to $2 billion in duties and import taxes.

According to Office of the Attorney General, it only filed a complaint of allegations after a long-running investigation which revealed that between July 2003 and June 2006, Philip Morris (Thailand) Ltd. falsified the worth of various batches of Philippine-made Marlboro and L&M Brand cigarettes.

According to the manufacturer, the case was presented to public prosecutors in September 2009 by the Department of Special Investigations but it was only in 2011 when DSI decided to track the allegations. In August 2011, the DSI’s director general denounced the decision, so the case was taken up by Thailand’s attorney general.

Philip Morris and its other Thailand-based executives could be exposed to a penalty of four times the projected costs of the imported goods plus tax. Company officials may also be subjected to a 10-year jail term according to the senior prosecutor with the Attorney General’s office, Prayuth Bejraguna.

The company for its part released a statement citing that the charges are meritless and unwarranted. Thailand manager Troy Modlin has since stated that Phillip Morris has done nothing wrong and will do everything possible to fight the charges.

At the same time, the company claims that the penalties imposed violate Thailand’s obligations under World Trade Organization rules. Modlin added that prosecuting the case will hurt Thailand’s status in the international community.

Philip Morris and Thailand’s government have been engaged in a tug of war for some time. The last legal battle involved the need for tobacco manufacturers to increase the size of graphic health warnings on cigarette packs from 55% to 85% of the packaging.

After a court hearing, it was ruled that enactment of the measure could potentially inflict irreparable harm on Philip Morris, so the court allowed an injunction. Philip Morris had complained that increasing the warning size would irreparably harm its brand.

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2015: A Record Year For Delta Air Lines, Inc. (NYSE: DAL)

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Andy Parker
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Delta Air Lines

Delta Air Lines, Inc. (NYSE: DAL) issued a report today affirming that the company’s performance in 2015 was a record for the company, posting $5.9 billion in adjusted pre-tax profit.

Delta CEO Richard Anderson said that he plans to reward the team’s performance with a $1.5 billion profit sharing program for the year. The company was able to accumulate over $3 billion in savings due to lower fuel prices as well as the various cost initiatives that have already been put in place. As a result, the company expects to gain a top ranking among the S&P industrials.

Despite global economic challenges, the airline is expected to improve again this year on earnings growth, margins and cash flow. Nevertheless, the company’s operating revenue for the most recent quarter was reported to have decreased by 2% due to $160 million in foreign currency pressures.

In terms of cost, the company saw a dramatic fall in fuel expenses of $726 million compared with the same period in 2014. The company’s debt initiative continued to lower interest expense. Compared to 2014, the debt reduction initiative was able to save $35 million in debt service costs.

The company experienced a 1.6% fall in passenger unit revenue this quarter to $0.1396. On the other hand, unit revenue was impacted by foreign exchange swings by two percentage points. Further statistics show that capacity was flat at 58.199B available seat miles. There was a significant rise in load factor during this quarter to 85.2%, an equivalent of 240bps.

Delta is a company that has achieved a lot since overcoming its financial troubles. It was named to FORTUNE 500 magazine’s Most Admired Companies. It was also named the worlds most admired airline for the fourth time in five years.

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Six Flags Entertainment Corp (NYSE: SIX) Begins Work On Its First Chinese Theme Park

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Andy Parker
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theme park

Construction work has begun on Six Flags Entertainment Corp’s (NYSE: SIX) first theme park in China. The company is partnering with Riverside Investment Group on the development project, which is expected to cost $4.6 billion.

The theme park will be located in the Haiyan region of Shanghai and is expected to open doors to visitors in 2019. Six Flags has indicated that its Chinese theme park will open in phases with an exhibition center expected to be ready first.

Exhibition center

Through the exhibition center, Six Flags plans to entice visitors for the theme park by providing them with an interactive preview of what is to come. The exhibition facility is expected to open later this year. Six Flags management is targeting a fall opening for the center.

What to expect

Though far from completion, Six Flags is already talking about what visitors can expect at its first Chinese amusement park. According to the company, the Haiyan theme park will feature family rides, world-class shows and roller coasters. There will also be attractions that highlight Chinese culture.

Economic boost

Six Flags’ Chinese theme park is also expected to come as an economic boon to the Yangtze River Delta and other parts of Eastern China.

Six Flags is hoping to leverage its global image to drive success for its maiden Chinese amusement park. The company is already famous for its multipurpose theme parks that cater to visitors of all ages.

Theme park portfolio

Six Flags operates 18 theme parks in the U.S., Canada and Mexico. It has been in the amusement park business 55 years. Six Flags is the world’s largest regional theme park operator.

Riverside Investment Group, Six Flags’ partner in the operation, is a famed tourism and real estate developer with a number of awards in the trade to its credit. That explains why working with Riverside is also expected to boost Six Flags’ reputation in China.

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U.S. trading indicates more positive sentiment

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OLYMPUS DIGITAL CAMERA

U.S. stocks opened 1% higher today after a broad fall last week. Markets are looking forward to a number of key earnings results ahead today.

Earnings and data release

Though analysts have projected a sharp decline in earnings this quarter, there are still hopes that the overall picture will not come in as bad as expected. During the pre-market session, Dow futures gained 250 points though they are down from those highs, sending signs of positive market momentum. Key financial earnings were positive from Bank of America Corp (NYSE:BAC), with Charles Schwab Corp (NYSE:SCHW) set to follow.

Today marks the first trading session of the week as U.S. markets remained closed yesterday for the Martin Luther King Jr. Day holiday.

Netflix, Inc. (NASDAQ:NFLX), International Business Machines Corp. (NYSE:IBM) and Linear Technology Corporation (NASDAQ:LLTC) are expected to release earnings following market close. The important NAHB housing index data will also be published today.

China Disappoints; Oil off lows

China’s economy grew 6.9% in 2015 as compared to 7.3% a year earlier, marking the largest decline in a quarter. China’s economy losing steam has become a major concern for investors globally given the dependence of the global economy on China. Meanwhile, analysts are anticipating more stimulus measures from China’s Central Bank if growth breaches the 6.8% mark.

Oil bounced today back above $30 a barrel, though it remains to be seen if this is simply a technical bounce. Pessimism in the oil markets have made $20 oil a serious possibility, given Iran’s reentrance into the oil market following the lifting of international sanctions.

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World Markets Weaken Further As Oil Makes News Lows

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Today’s trading opened in the green for both Asian and European markets. The rally in Asian stocks may have been fueled by weak Chinese economic growth data that suggests more stimulus ahead.

China weakness continues

China’s GDP (gross domestic product) rose 6.8% in the fourth quarter according to official Chinese government figures, as compared to the previous year’s first quarter. The number indicates that the Chinese economy continues to lose momentum following a major growth slowdown since 2009. Alongside this, the region’s industrial production grew 5.9% in December, disappointing market expectations of 6% growth.

China’s retail sales dropped marginally against December expectations as retail grew 11.1% versus projections of 11.3%. The People’s Bank of China (PBOC) set the most recent dollar-yuan fix at 6.5596.

Asian stocks higher

Reacting to the reports, the Shanghai SE Composite Index reversed its direction and surged by 3.22% to the psychologically important 3,000 level. Hong Kong’s Hang Seng followed on cue and was up by 2.07% to 19,635. Overall, it seems that China’s weak numbers were already priced in the market and did not come as a great surprise.

Meanwhile, Japan’s Nikkei 225 had a mixed session closing up by 0.55% to 17,048.37. Japanese economy minister Akira Amari has claimed that the weakness in Japanese stocks was driven by external factors such as pressures in emerging markets and the oil rout.

European markets traded up, ending two consecutive sessions of losses. France’s CAC 40 led the rally with 1.93% gains followed by Europe’s Euronext 100, which was up by 1.88% to 838.14. US financial markets remained closed on Monday but opened 1% higher this morning.

Following the developments in China, world markets will now keep a close tab on the oil price. Brent crude had a small rebound and was seen trading above $20 per barrel. Concerns regarding the oil glut worsened as Iran prepares to introduce more oil post sanctions, which is likely to worsen the current global oil supply glut further.

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U.S. Dollar Picks Up As China Reports Another Disappointing Quarter

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US-Dollar pro Packung

Both the Australian and the New Zealand dollars are gaining ground against the greenback today. However, Chinese economic data is likely to keep these gains in check. AUD/USD rose by 0.64% to 0.6911 before briefly marking a high at 0.6911. The pair’s resistance level is currently at 0.7005.

The New Zealand Dollar traded the session 0.19% higher against the USD at 0.6464 touching a daily high at 0.6470. Short term support is at 0.6401 and resistance at 0.6521.

The USD gained against the Yen as China’s GDP numbers confirm Asia’s slowdown as a region. The Euro weakened by 0.18% to 1.0875 against the US Dollar while the British Pound inched up 0.4% to 1.4299. The US Dollar index as a whole remained mostly unchanged at 99.23.

China continues to lose momentum

The latest developments from China were released with its much-awaited gross domestic product (GDP) numbers today. The report indicated that GDP grew 1.6% in the fourth quarter, missing expectations of 1.7%. China’s GDP growth is still officially at 6.8% on an annual basis, though some analysts doubt official numbers.

Other reports indicated that Asia’s top economy saw production grow in December at an annualized rate of 5.9%, below market expectations of 6% as well as the previous month’s record of 6.2% growth.

Oil continues to top concerns

The continuing fall in oil prices counts among the primary concerns for investors, who expect the global economy to weaken further. This is exacerbated by the end of sanctions placed on Iran, which has propelled fears that the oil rout will continue for some time yet as Iran is committed to pumping more oil into the global market.

 

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BlackBerry Ltd (NASDAQ:BBRY)’s Priv Debuts In The UK

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blackberry-chen

BlackBerry Ltd’s (NASDAQ:BBRY) Priv now will be available in the UK through the EE British mobile operator for business and consumer accounts. Similarly, Carphone Warehouse, a popular UK retailer, will also make the handset available through its iD network. The starting price for Priv for an account holder will be £109.99.

Varying prices dependent on terms and tariffs

Prices differ for business customers, which start at £250.00, and can be reduced to as low as £8.33 depending upon the contract conditions chosen. The Canadian phone maker wants to ensure that Blackberry Priv reaches its maximum market in Great Britain. It will soon be available through Vodafone Group Plc (NASDAQ:VOD) and O2 outlets for £49/ month as a starting deal offering unlimited minutes, texts, and 4G data, with 2GB capacity.

Blackberry and Carphone Warehouse have come to an exclusive agreement that makes the latter an authorized retailer for selling its Android devices by the end of 2016. However, the exclusivity agreement also means that Blackberry will not be selling its phone yet. Currently, it is listed in the pre-order section on the website, with November 16 as the release date.

Interested users can order the device for £529 along with a free SIM.

Blackberry Priv accessories

Priv will be introduced along with several special accessories including a smart flip case (£44.9) and a leather swivel holster for £34.99. One of the major highlights of this new offer from Blackberry is that the company has ditched its software for the first time to replace it with popular Google software.

The phone will be outfitted with some of the original Blackberry features along with Android 5.1 Lollipop and DTekt, but it seems that the company is ready to be a bit more flexible now to keep up with competition.

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