Political Heavyweights In Davos Spotlight

EVERYTHING YOU NEED TO KNOW, RIGHT NOW. #IBTPulse   Political Heavyweights In Davos Spotlight British Prime Minister David Cameron will use his World Economic Forum appearance Thursday to urge business leaders to help him make the case to keep the U.K. in the EU, ahead of a planned referendum. Greek Prime Minister Alexis Tsipras will be pushing his country's creditors for less austerity on the sidelines of his speech. Israeli Prime Minister Benjamin Netanyahu will also make an appearance. Coffee And Communications On Earnings Calendar Analysts expect Verizon to report earnings per share of 88 cents, up from 71 cents during the same period last year, on revenue of $34.1 billion, when it reports its fourth-quarter results Thursday. Investors will be paying close attention to the company’s subscriber growth and wireless service revenue. Analysts' hopes are high for Starbucks, with expectations the company will report earnings of 45 cents per share on revenue of $5.4 billion. It reported 40 cents a share on $4.8 billion in the same period last year. No New Stimulus Expected From ECB Rate Decision While analysts do not expect the European Central Bank to announce a rate move or fresh stimulus measures Thursday, the bank’s president may hint that further rate cuts and bigger asset purchases are on the way. Despite the bank’s quantitative easing program finding some success, the effects of its stimulus have been blunted by external factors that have kept inflation below the bank's target. Barclays To Downsize In Asia The British bank is set to exit some of its trading and sales operations across Asia and cut about a 1,000 jobs worldwide — its most brutal cuts yet. The company will cease some of its operations in countries including Australia, Taiwan, South Korea and Malaysia. Analysts said the move suggested the bank had to be very aggressive to have any chance of boosting returns. HERE'S WHAT YOU MISSED LAST NIGHT. Japan Rules Out Negative Interest Rates Bank of Japan Governor Haruhiko Kuroda said Thursday that he is not thinking of adopting a negative interest rate policy, indicating that the BOJ may look to expand its ongoing, massive asset-buying program. With a rate review meeting next week, Kuroda’s comments quelled speculation of a rate cut and the yen rose against most of the 31 Asian currencies. Foxconn In $5.3B Bid For Sharp The Taiwanese company, which assembles the bulk of the world’s iPhones, is not the only suitor for the troubled Japanese electronics giant. Sharp is also set to review a competing offer from Innovation Network Corp. of Japan, a government-backed investment fund. Japanese officials have expressed concern in the past about letting Sharp come under foreign control. Chinese Consumer Confidence At Record Low In January A survey reported that Chinese consumers are “increasingly pessimistic about the economy.” Analysts said the drop was a sign that China’s slowing economic growth — which fell to 6.9 percent, its lowest rate for more than two decades, last year — could eventually affect citizens' spending plans and consumption, which has been the main bright spot of China’s economy over the past two years. Asian Markets Down As Crude Oil Rally Runs Out Of Steam Crude oil prices recouped from a 13-year low during early trade Thursday but soon gave up any gains, after back-to-back declines this week. Asian markets heaved a temporary sigh of relief, with all major indexes opening higher, but all Asian markets except Australia reversed gains, as industry watchers cautioned that availability of large storage space for crude oil in the U.S. and Asia would discourage oil producers from limiting production.   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