Asian Stocks Lead Global Market Rally

EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse   Asian Stocks Lead Global Market Rally Asian stocks led their European counterparts into positive territory and crude oil futures rebounded to their highest point in three months, after European Central Bank President Mario Draghi hinted at further stimulus measures later in the year. China’s Shanghai Composite rallied in the post-lunch session to finish 1.25 percent up from a trough while other Asian markets finished the day firmly higher. AmEx Plans $1B In Cost Cuts The credit card issuer’s shares slumped in trading Thursday, after its 2016 earnings forecast disappointed analysts and investors. American Express said it would respond to intensifying competition in the payments industry with $1 billion in cuts, to take place by the end of 2017. Millions Brace For Huge US Blizzard Winter storm Jonas is expected to dump up to 2 feet of snow on some parts of the eastern U.S., and states of emergency have already been declared in several districts. Check out our handy guide on how to be prepared for the storm. $5.5B Bailout Expected For Japan's Sharp A Japanese government-backed investment fund and the struggling electronics firm’s creditors look set to agree on a rescue package worth around 650 billion yen ($5.5 billion). The move comes after Taiwan’s Foxconn launched a $5.3 billion bid for the company, which the Japanese government appears keen to prevent from falling under foreign control. HERE'S WHAT YOU MISSED LAST NIGHT. Google Paid Apple $1B To Be Default iPhone Search Engine The search engine giant has an agreement with Apple that gives the iPhone maker a percentage of the revenue Google generates through the Apple device. News of the deal emerged during court proceedings in an ongoing legal battle between Oracle and Google. Migration Putting EU At Grave Risk: French PM Speaking on the sidelines of the Davos summit, Manuel Valls warned that the bloc will not be able to absorb all the refugees fleeing conflicts in Iraq and Syria “ otherwise... our societies will be totally destabalized .” Valls’ comments come just a day after Sweden’s prime minister said the EU could “easily” accommodate millions of refugees if member states worked together. Dov Charney In Court Bid For American Apparel Return The company’s controversial former CEO argued that he was the victim of a scheme by former partners to steal the company he founded away from him. American Apparel’s board fired Charney in 2014, after a string of scandals. A judge is scheduled to issue a ruling on the competing proposals for the company’s post-bankruptcy future Monday. Global Growth And Market Turmoil Dominate Davos Participants at the World Economic Forum in Switzerland painted a bleak picture of the current state of the global economy Thursday, with concerns about China, low oil prices and tightening bank liquidity depressing sentiment. The forum is set to wind up Saturday, but not before heavy hitters, including John Kerry and Mario Draghi, make their appearances.   7 Hanover Square, 5th Floor, New York, NY 10004 © 2015 IBT Media Inc. All Rights Reserved. Please add pulse@ibt-mail.com to your contacts Unsubscribe | Privacy Policy