LyrArc Article Gist
The effect of Russia's economic problems in 2015, including the drop in oil prices to below $50 a barrel, would cost Russia about $200 billion, according to Russia's finance minister Anton Siluanov. In addition to lower oil prices, Russia faces higher inflation from the decline in the ruble to 67 to the dollar on Jan. 28, 2015, western sanctions, capital flight, credit downgrade and reduced access to financing for Russian companies. Siluanov says $35 billion will be spent in 2015 for anti-crisis measures to stabilize the banking system, financing for companies with lack of access to financing in capital markets, and cushioning the impact of the crisis. Russia's economy is forecast to decline by 4% in 2015, by the Bank of Russia, with double digit inflation from a weaker ruble.

LyrArc Article Gist
About 700,00 depositors in Spain's banks, including Bankia and regional banks, converted their deposits, including life savings, into high yielding preferred shares in the last decade. The banks raised about 22 billion euros to help recapitalize. The sharp decline in value of the shares made it impossible for depositors to resell them. After the eurozone crisis with EU aid to Spain to recapitalize banks, the EU stated the depositors would have to take some losses. Now the two main parties, the Socialists and the Partido Popular are passing legislation to compensate the depositors after angry protests throughout Spain. Banks will use part of the 37 billion euros of loans from the EU to settle the arbitration cases.

LyrArc Article Gist
Economies in eastern europe are being hit hard by the crisis especially countries that borrowed hevily overseas and that have large amounts of debt.

LyrArc Article Gist
Machine tool orders of Japanese companies declined by 62% in November over a year ago, according to the Japan Machine Tool Builder's Association. Its like riding a roller coaster barrelling down from its highest peak said Mori, the President of machine tool maker from Nagoya, Mori Seiki Company.

LyrArc Article Gist
In a first at Davos World Economic Forum, China's president Xi Jinping uses the 2017 meeting to give a one hour long spirited defense of the world trading system, critical of U.S. president elect Trump's protectionist views without naming him. Xi pointed out that "no one will be winners in a trade war." And went on to add that restricting world trade was like "locking oneself in a dark room, keeping out wind and rain from outside but also light and air." For the first time Jinping stated that China would take the U.S. role of defending the world trading system from attack as needed. On climate change Xi defended the Paris accords, and gave China's commitment to pursue changes regardless of what the U.S. under president Trump does. This follows Chancellor Merkel of Germany's statements on the issue critical of the views of president elect Trump, and taking the lead to defend the world trading system. Xi also pointed out that many of the ills that led to voter discontent in the West were not really from the freeing up of trade but from the pursuit of excessive profit with the financial crisis of 2008.   ...

LyrArc Article Gist
Questions raised by investors following the layoffs at 3G acquired companies and the practice of investing in Coca Cola sugary drinks- does the carefully cultivated folksy image of Warren Buffett match the investing practices and the special rules that apply to Berkshire?

LyrArc Article Gist
With an article posted online and a 2 hour question and answer session Medvedev outlined his vision of Russia that attacks the corruption, commodities based economy, and lack of pluralistic democracy. This is the first major effort where Medvedev has repeatedly emphasized the differences between his vision for Russia and the existing state of affairs. He did not rule out running in 2012 for President even though he stated he has ggod relations with Prime Minister Putin.

LyrArc Article Gist
The trading volume on the New York Stock Exchange has seen a jump in the last week from an average of 4.26 billion shares traded daily in 2011, to an average daily volume of 7.31 billion shares in the first ten days of August 2011. Analysts say this reflects market anxiety, trading on conviction now compared to the light trading and a rising market in the earlier part of the year. The jump in volume also looks ominous as individual investors pull back say analysts.