Starting today, I am going to have a heavier round of foreign-language links because I want you to see the news flow that I am saying. Before, I didn’t include all those links because I was unable to comment on the stories or translate them. But I think it makes sense to put them in even so and let you do a translation if my short comment on what is important catches your eye. This will be most relevant in Europe and Argentina.
Technology
iPhone 5c inventories estimated at over 3 million units, says upstream supply chain
Apple has overestimated demand for the lower price 5c version of the iPhone
Why is American internet so slow? – The Week
The internet is fucked | The Verge
Good article on how cable and internet service providers like Verizon have used mergers in a way to reduce competition in the US and ultimately keep data rates low and prices high.
Spotify Just Bought Huge Music Data Company The Echo Nest
Not even extra cash helps: 94 percent of BlackBerry traders at T-Mobile switched platforms
Andreessen Horowitz leads $32.7M investment in high-flyer DigitalOcean
AP EXCLUSIVE: MAN DENIES HE’S BITCOIN FOUNDER – News from The Associated Press
Bitcoin
Japan Says Bitcoin Not a Currency – WSJ.com
Bitcoin: Some Parts Brilliant, Some Parts Sure to Bomb
Singapore police probe ‘unnatural’ death of American CEO of bitcoin trader | Reuters
“Singapore police are investigating what they have called the “unnatural” death of a 28-year-old American woman who ran a small exchange that traded virtual currencies, including bitcoins, from the Asian city state”
CEO in apparent suicide was bitcoin fan, had other issues, too – chicagotribune.com
The Face Behind Bitcoin – Newsweek
Europe
Even though we have heard that Spanish house prices have stopped declining, this article says this is false, that house prices are still declining, though at a slower rate. The fall from peak is now 37%.
Immobilien: Paulson investiert in Spanien – Fonds ETF – Finanzen – Handelsblatt
Hedge Fund guru John Paulson is now investing in Spanish property
SNB Suffers Loss on Lower Gold Price – WSJ.com
Unemployment in Switzerland is 3.5%
S&P verhoogt ook outlook van Vlaanderen – De Standaard
S&P raised its outlook for Flanders, yet another example of the easing of the European sovereign debt crisis.
Moody’s hebt Ausblick für 20 deutsche und österreichische Banken « WirtschaftsBlatt.at
Moody’s has raised the outlook for 20 German and Austrian banks. Will this mean they get a clean bill of health in the stress tests? We’ll see.
UK companies hire staff at record rates – Telegraph
Greek bank Piraeus set to return to capital markets – FT.com
“Piraeus Bank is poised to become the first Greek bank since the eurozone crisis to return to capital markets, in a crucial test of investor readiness to lend to banks in the region’s recession-battered periphery. The bank wants to do a “benchmark” senior unsecured deal of at least €500m ahead of European regulators’ assessments of the region’s banks’ balance sheets later this year, according to a person familiar with discussions.”
ekathimerini.com | Southern European states’ bond yields continue decline
“Spain’s 10-year yield fell nine basis points, or 0.09 percentage point, to 3.35 percent, the lowest since January 2006. Similar-maturity Italian yields declined five basis points to 3.37 percent after reaching 3.36 percent, the lowest since October 2005. Portugal’s 10-year yields slid 13 bps to 4.71 percent and Greece’s fell 12 bps to 6.81 percent.”
ekathimerini.com | Banks’ capital needs add up to 6.4 bln euros, says BoG
ekathimerini.com | Germany offers fund to defuse Greek war reparation claims
Ukraine
EconoMonitor : Ukrainian Chess
MUST READ article from Simon Johnson
Timosjenko: Rusland maakt misbruik van zwakte van het Westen – nrc.nl
Apparently, Timoshenko has said that Russia is using the west’s weakness to gain advantage in Ukraine
Russia’s English-Language TV Channel: We’re Biased and So Are You
Good article on media bias and journalism
Propaganda, or the other side of the story? | the first casualty.
More on media bias
Ukraine crisis fails to trigger repricing of risk – FT.com
“The relative calm observed since Tuesday reflects investors’ calculations that a balance of economic interests between Russia and the west will prevent the crisis becoming a systemic threat to the global economy, even if it develops into a prolonged, 21st century version of the Cold War.”
Ukraine’s Naftogaz says paid for January Russian gas supplies | Reuters
Ukraine’s PM Urges Russia to Start Talks, Reject Crimea’s Referendum – WSJ.com
Emerging Markets
Shanghai Chaori in Default on Bond Interest Payments – WSJ.com
Zimbabwe’s only reserves are $500,000 of gold coins – Telegraph
EM’s dark debt squeeze exposure | FT Alphaville
“If you take the blue pill, the story ends. You wake up in your bed and believe exactly what the statistics tell you to believe. You take the red pill — you stay in Wonderland and I show you what the statistics just can’t see. What we’re talking about is hidden debt. The debt that’s out there but which we can’t currently see or assess.”
North America
Staples to shut 225 stores in North America as sales fall | Reuters
Costco posts disappointing results | Toronto Star
US fourth-quarter productivity is slashed – Independent.ie
U.S. jobless claims tumble to three-month low | Reuters
Outgoing NSA chief hints at ‘media leaks legislation’ – POLITICO.com
WASHINGTON: Probe: Did the CIA spy on the U.S. Senate? | National Security & Defense | McClatchy DC
Unemployment, Wages, Inflation, and Fed Policy – Tim Duy’s Fed Watch
Fed officials see high hurdle for changing course on QE taper | Reuters
“Bernanke was paid at least $250,000 for his first public speaking engagement, in Abu Dhabi, since stepping down in January, according to sources familiar with the matter. That compares to his 2013 paycheck of $199,700, and the appearance was only the first of three around the world this week.”
U.S. Household Net Worth Hits Record High – WSJ.com
“Delta Air Lines (DAL) is making a radical change in its frequent-flier program designed to win more business from its biggest-spending customers, including corporate travelers. These “elite” fliers account for just 2% of Delta’s customers but generate over 20% of the revenues, numbers typical of the industry.”
Making sense of Delta’s change to fare-based mile earning
Record home building in Canada drives spike in building permits | Financial Post
Markets
Buffett Cuts Bond Allocation as Berkshire Warns on Yields – Bloomberg
Cerberus Reaches Deal for Safeway – WSJ.com
Safeway LBO to be backed by US$7.6bn in debt | Capital City | IFRe
Exclusive: Pimco’s Gross declares El-Erian is ‘trying to undermine me’
Elsewhere
How to Pick Your Life Partner – Part 2 | Wait But Why