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As BP reports large losses in the second quarter resulting from its focus on safety, and building a smaller but more profitable company, BP's CEO Dudley says- "One of the things we are not going to do is drift off the path of focus on safety." He emphasized this by adding that "stepping up the accelerator of performance in place of that is not going to happen." BP has cut overall production from 3 million barrels a day in 2009 to 2.3 million barrrels as it focuses on safety and profitability. Dudley says "its going to be value over safety." As it finishes repair and improvement work in the Gulf of Mexico, BP will repeat the exercize in its North Sea fields. Extensive maintenace work is leading to extended shutdown periods.

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According to preliminary estimates of the UK Office for National Statistics, gross domestic product fell 0.5% in October through December 2010, after expanding 0.7% in the third quarter of 2010. The UK inflation rate increased to 3.7%. At the same time the money the UK needed to borrow in December 2010 came in at 16.8 billion pounds, down from the 21 billion pounds in December 2009, showing an improvement in public finances. The two main drivers of UK growth are now set to slow down. Consumption spending down because of higher unemployment and inflation, and tax increases equivalent to 8% of GDP over 4 years. And government spending cuts leading to a reduction in spending for the 2011 fiscal year of 23 billion pounds. UK economic growth is 2010 is 1.4%, after contractions of 4.9% in 2009 and 0.1% in 2008. The UK Treasury chief George Osborne said the government will "not be blown off course by bad weather." Central bank governor Mervyn King pointed to the choppy recovery. Referring to the austerity policies King said, "the right course has been set and it is important to maintain it."...

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Only 8 months into office, the leader of the Democratic party in Japan, resigns as Prime Minister. After perceived indecisiveness by the Japanese public on the Okinawa base change issue and on issues related to cutting wasteful spending. The base issue related to a campaign promse to move the American base out of Okinawa and even out of Japan. The North Korean government's aggressive behaviour led to a changing perception of the base issue, with a lengthy disagreement with Washington and eventual reneging on the campaign promise. By this time Hatoyama's popularity dropped to 25% and he resigned. Also resigning is Mr Ozawa, the Democratic Party's secretary-general. The indecisiveness and lack of leadership on issues made it difficult to sustain the electoral support which led to the Democratic party winning an overall majority, mainly to bring change for the post Liberal Democrat era.

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New York Yimes editorial calls the Conservative party coalition government's austerity budget (the plan to cut 500,000 public sector jobs and terminate unemployment benefits after 12 months), as a gamble on an improbable theory that the private sector can make up for $130 billion in cuts. The editorial says these budget cuts could suffocate a feeble recovery.

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The UK Office for National Statistics shows Britain's GDP declined by 0.2% in the last quarter of 2011, compared to the prior quarter. The figures showed a drop in business investment. Polls by ComRes, show 51% of people in Britain see the government austerity cuts as having an adverse effect on the economy, with cuts being larger and coming too quickly.

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Microsoft's planned release of Windows 8 in 2012 with its use in tablets, and its new strategies for increasing Windows Apps for smartphones.

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Looking beyond Facebook and social media to innovation in areas that will materially affect the lives of the American people and people in other countries- in transportation, manufacturing, education, healthcare and other fields.

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The profit squeeze is evident in JP Morgan's net profit margin of 2.14% in the fourth quarter, declining from 2.19% in the prior quarter. Return on assets at 0.78%, down from 0.87% in 2013. Lower interest rates hurt JP Morgan's fixed income, currency and commodities business, and this is not expected to change much in 2015. Legal expenses were $1.1 billion in pretax terms for the fourth quarter 2014.

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Investors are showing concern about Samsung's earning momentum. The mobile division generates 50% of profit and competition in intensifying in this field. Samsung shares declined by 4.6% on Jan 2, 2013. Overall operating profit is expected to increase in the 4th quarter 2013 by 9.2% from prior year, compared to 26% in the 3rd quarter 2013. The operating profit for the mobile division is expected to be up 14% over prior year for 4th quarter 2013, declining 8% from the third quarter. The less premium smartphones make up a greater proportion of the portfolio reducing margins. Prices are being lowered by competitors. Motorola Mobility is cutting the price of its Moto X smartphone to $399 from $550, much cheaper than the Samsung Galaxy S4 smartphone costing $600 without a contract in the U.S. market. Declining TV prices with competition from Vizio and other Chinese competitors is likely to squeeze margins in this segment.

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Worsening economic conditions in Iran in 2014. Inflation running at 32% and the government facing a cash shortage.

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Dubai airport had 67.3 million passengers in the 12 month period through Feb. 2014, according to Airports Council International. Emiraes airline is based in Dubai. It was setup in 1985 using a $10 millon grant from the government of Dubai and 2 Boeing 727 planes. The precipitating factor was a cutback in flights by Gulf Air between UAE and Pakistan. Emirates benefitted from a business friendly environment in Dubai and open skies policies that helped the aviation sector grow. Another factor helping rapid growth is that the CEO of Emirates, Sheikh Ahmed bin al-Maktoum, is chairman of Dubai Airports and Dubai Civil Aviation Authority, chairman of the low cost carrier Flydubai, and is the uncle of Dubai's ruling king Sheikh Rashid al-Maktoum.

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Dealogic reports show 64 U.S. listed IPO's raised $16.8 billion in the first 5 months of 2013, up from the $13.1 billion raised by 73 companies in the same period in 2012. Recent price gains by IPO's are driven by the lack of alternatives to stocks for investors in a low interest rate environment.

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New rules set by Brazil for investment in the oil industry give about 80% of revenues generated back to Brazil. The rules require 30% participation for Petrobras, Brazil's state owned oil company, in all projects and operating of oil fields. The rules also mandate sourcing of equipment inside Brazil to develop local suppliers. Shell and Total, eager to add to oil reserves, will participate in development of the Libra oil field. BP, Chevron and Exxon declined to participate. The Brazilian government faces the difficult choice of keeping as much of the benefits of oil production inside Brazil and yet making it attractive enough for major oil companies with the knowhow for deep water drilling to participate. Delaying development for years means pushing revenue generation further into the future even as the growth rate for Brazil is slowing- down to 0.9% in 2012 and expected to be 2.5% in 2013. The street protests in 2013 making it even more important to show that the benefits of oil production will stay inside Brazil and yet not delay the generation of revenues needed for investment in Brazilian education and infrastructure....

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Delta, United Continental and European airlines face competition from newcomers with lower costs and new fuel efficient fleets. Airlines from the Gulf region, Etihad Airways, Emirates Airlines, and Qatar Airways, are taking customers away from the established airlines on longhaul transatlantic, Asian and European routes.