National / International News

VIDEO: Banksy says boys' club can keep work

BBC - Wed, 2014-05-07 13:45
The artist Banksy has said that his disputed Mobile Lovers piece should be kept by a Bristol youth club.

Stanford will divest stakes in coal. Will it matter?

Marketplace - American Public Media - Wed, 2014-05-07 13:38

Stanford will be the first major university to divest itself of carbon-producing fossil-fuel investments - but only coal producers. So how easy will it be for Stanford to cancel out coal-related investments? After all, coal is used widely by utilities and still generates nearly 40 percent of U.S. electricity. 

Kristoffer Inton, an equity analyst with Morningstar, says not investing in coal is as easy as "If you don’t want it -- don't buy it... Clearly if you don't want to invest in coal, you can not invest in the coal miners,” he says.

Companies that mine coal, like Peabody and Consol Energy, are listed individually on the S&P 500 so they’re easy to target, says Inton. But avoiding the energy source gets more complicated if you try to become a coal vegan, even avoiding companies that burn it – like steel manufacturers and utilities.

Inton notes that for investors, institutional or otherwise, not buying coal investments right now is not a hardship. Prices are down.

“Any time there’s been press on potential EPA regulations or anything like that, we’ve always seen a direct impact on coal miners’ stocks,” he says.

But even if more institutions like Stanford stop investing in coal, it’s not likely to have much impact on sellers. David Beard, managing director of energy equity research at Iberia Capital Partners, says look no farther than conscience investing campaigns of the past.

“I don’t see any real economic impact just given how the stock of Coke and Pepsi and Philip Morris have performed over time," he says. "And just because you sell a stock, it really doesn’t affect how much money a company has in their bank account to invest in their business.”

Beard says the bigger risk for energy companies would be a global carbon tax, which would raise the cost of electricity. But in the meantime, he notes, for coal producers, it's business as usual.

“It’s supply and demand, if the price is higher than the cost, people will mine it.”

Stock exchanges want Alibaba, bad

Marketplace - American Public Media - Wed, 2014-05-07 13:35

Alibaba is huge. We know that. It received $5.6 billion in revenue in 2013 with $1.6 billion in income, and has a nearly unheard of profit margin of 48 percent. 

You would imagine any stock exchange would be dying for Alibaba to decide to list with it. They do want Alibaba, bad. But not necessarily for the reasons you might think.

It’s not totally about the money. Yes, the stock exchange that hosts Alibaba will receive annual fees for being listed. And an exchange will also receive fees every time a stock is traded. 

But as far as stocks go, those fees are minimal. Listing fees top out at around $500,000 a year, for the largest of companies, and trading fees are on the order of hundredths of a cent per trade.

So why do exchanges care about listing Alibaba? Prestige. The flip side of prestige is advertising. If a huge flashy tech company like Alibaba lists with a certain exchange, that might attract other huge flashy tech companies to do the same.

Alibaba & the exchange windfall

Marketplace - American Public Media - Wed, 2014-05-07 13:35

Alibaba is huge. We know that.  It received $5.6 billion in revenue in 2013 with $1.6 billion in income, and has a nearly unheard of profit margin of 48%. 

You would imagine any stock exchange would be dying for Alibaba to decide to list with it.  They do want Alibaba, bad.  But not necessarily for the reasons you might think.

It’s not totally about the money.  Yes, the stock exchange which hosts Alibaba will receive annual fees for being listed. An exchange will also receive fees every time a stock is traded. 

But as far as stocks go, those fees are minimal.  Listing fees top out at around $500k a year, for the largest of companies, and trading fees are on the order of hundredths of a cent per trade.

So why do exchanges care about listing Alibaba?  Prestige.  The flip side of prestige is advertising.  If a huge flashy tech company like Alibaba lists with a certain exchange, that might attract other huge flashy tech companies to do the same.

China, Vietnam Spar Over Oil Rig In South China Sea

NPR News - Wed, 2014-05-07 13:33

Hanoi says two of its vessels were rammed by Chinese ships deploying an oil rig in disputed waters. It comes as the Philippines has seized Chinese fisherman for alleged poaching of sea turtles.

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Sunderland 2-0 West Bromwich Albion

BBC - Wed, 2014-05-07 13:24
Sunderland beat West Brom at the Stadium of Light to ensure Premier League survival and effectively relegate Norwich City.

Return to Tacloban six months after Haiyan

BBC - Wed, 2014-05-07 13:23
’I came home and saw my husband hanging on the fence’

Murray wins see-saw match in Madrid

BBC - Wed, 2014-05-07 13:08
Andy Murray survives a second-set fightback by Nicolas Almagro to reach the Madrid Masters third round.

Stanford Dumps Its Holdings In Coal, With Climate In Mind

NPR News - Wed, 2014-05-07 13:08

Stanford says it will its divest holdings in coal companies over climate change concerns. It's the most prominent of the roughly one dozen colleges that have decided to sell off fossil fuel holdings.

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Hooker Youngs to miss England tour

BBC - Wed, 2014-05-07 13:03
England hooker Tom Youngs will not tour New Zealand in June in order to support his wife, who needs treatment for an illness.
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