Financial News

Financial Times Hit by Hackers

The pro-Syrian hacking group known as Syrian Electronic Army has a new victim, the Financial Times. Two weeks ago the same group hacked into the Associated Press Twitter account and issued a false tweet about two explosions in the White House. The new attack was relatively harmless. An announcement was made in the blog page: “Hacked by Syrian Electronic Army”, while the unauthorized Twitter messages said: “Syrian Electronic Army was Here”. The page administrator commented: “Apologies for the random political ramblings folks-we were hacked. I suppose it’s a compliment really.”

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Dell Posts 79% Fall in Profits

Dell reported a 79% slide in net profit provoked by a fall in personal computers sales as more consumers are shifting to smartphones and tablets. The company’s net profit fell to US $130 million in the three months to 3 May, on revenue down 2% to $14 bn. Currently; the company is in the middle of a controversy between its founder Michael Dell and two mayor shareholders. Michael Dell wants to take the company private but investors oppose the plan. In the quarterly results, Dell said that revenue from new technologies, services and software, rose 12% to US $5.5 bn, in contrast to PC sales, which fell 9%.

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Cristina Fernández Rejects Re-election

In recent statements, President Cristina Fernández de Kirchner has assured that she will not push for a constitutional reform project that would allow her to see a new re-election in 2015 as many of her militant followers would like to see. According to Senator Aníbal Fernández, she would certainly veto such a reform even if lawmakers propose and agree on a constitutional reform. In a talk with reporters at a local radio station he asserted: “Suppose we all go crazy and we manage to clear (the bill to reform the constitution); the President will veto such a thing… there is no turning back for the President’s word.”

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The Latin American Digital Opportunity

A note published in outbrain.com assures that the growing Latin American digital media market represents a remarkable opportunity for content creators. Latin America represents more than 7% of global Internet users and is home to Brazil and Argentina, two emerging markets where 79% and 28% of the population consumes content on the web, respectively, that is, more than one hundred million people. Adding Mexico to the list, where 30% of the people use the web, the list grows to 130 million users. On the other hand, the US Hispanic market represents 15% of the local online market, a demographic that is growing three times faster than the general market online. Taking on account these figures, “content creators must focus on the Latin American and U.S. Hispanic markets in order to maximize overall content viewership and engagement. Reaching Spanish-speaking content consumers in the U.S. and south of the border has never been more important and will only become more important in the coming years.”

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The Strength of US Economy is Doubtful

According to Reuters, the economy of the United States has shown worrisome signs. Jobless claims rose sharply last week, ground-breaking at home construction sites tumbled in April and the underlying inflation points to weak demand. These data could fuel fears over the impact of the government austerity drive that began this year and could raise pressure on the Federal Reserve to keep its money printing press running on overdrive. Following the data’s publication, futures indexes for American Stocks turned lower and the dollar weakened against the euro and the yen.

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