Fitch Affirms Portugal BB + rating, saying the country's deficit reduction progress

The rating agency Fitch Affirms Portugal rating to BB +, the relatively high level junk, the rating outlook remains negative. The agency refers to Portugal although the rise in unemployment, and the next year's Budget for political and social cohesion test, but the country is still in progress, the deficit reduction and external competitiveness enhanced.

Fitch means the Portuguese domestic demand is shrinking faster than expected, rising unemployment rate, political uncertainty or retrogression of the debt reduction plan, can make the country's rating was lowered. Fitch expects the Portuguese GDP will decline by 1.5% next year, followed by a gradual recovery.

If there is evidence to further reduce the country's deficit and the eurozone crisis relieve Portugal rating outlook may stabilize, Fitch said.

RIM BlackBerry 10 system in January 30 next year, they will be announced in the official blog

In addition, they also said that this event will be carried out simultaneously in the global RIM previously disclosed some details of the new system, including the distinction between personal life and working notice, improved soft keyboard.

The RIM promised at least in the beginning of next year's conference to launch the two devices, according to previously leaked news analysis, RIM is likely to launch the two devices in the L, N series, L series is the only phone full touch screen design N series is a traditional QWERTY physical keyboard.

China economy slow stabilization

China's October economic statistics show a general improvement in key indicators such as production, investment and consumption, manufacturing and retail showed signs of stabilization. The effect of the Chinese government to speed up the approval of high-speed rail and other infrastructure construction is gradually expanding. However, the domestic and foreign demand outlook remains uncertain economy will be strong, even if in the short term, but the strength of the recovery is likely to remain a lack of momentum.

Governor Zhou Xiaochuan of the People's Bank of China (PBOC), said the economy is slowly stabilized, individual indicators have started strong, that the worst of the economic slowdown during the past eighteen meeting on November 8.

In October, the above-scale industrial added value up 9.6%, compared to 0.4 percent in September. 2 consecutive months has appeared to improve, and hit the highest level in five months since. Enterprises trading price between the industrial producer price index (PPI) rose 0.2%, after a lapse of six months into positive growth.

Steel production increased by 11.7% compared to the same period last year, there has been substantial growth compared with September (4.9%), in addition to generating capacity increase of 6.4%, expanding 4.9 percent increase over September. The continued downturn in corporate activity has begun to shine.

Government in order to support economic growth, China is speeding up the approval of the investment project. Although these economic stimulus policies have not been accompanied by a new fiscal measures, but the 1 to 10 months fixed asset investment growth of 20.7% over the same period last year. An increase of 0.2 percent compared with 1 to September.

In particular, the construction of high-speed rail and other transportation networks is a major driving force of growth. Scale railway construction investment plan proposed by the Chinese Ministry of Railways to 516 billion yuan. Since the beginning of the year, nearly three times raised the investment plan, the increase amounted to 110 billion yuan. These infrastructure investments are already beginning to show results.

From the situation of China's domestic consumption, the new car sales in October increased by 5.3%, and has 2 consecutive months of growth. The total retail sales of consumer goods (retail sales) growth of 14.5%, an increase of more than 0.3 percent in September, the strong performance.

In this case, however, does that mean a sustained recovery, is still difficult to judge. Construction machinery manufacturers in China, a senior executive pointed out, "While the investment is worth the wait, but the actual demand is still a lack of strong growth momentum.

Steel due to the inventory of the basic completion of the prices have stopped falling, the manufacturers have quickly started to expand production. But it is undeniable that performance remains unresolved structural problems of overcapacity in the context of investment growth expectations are for early release. Approval of investment to actually start the construction, still facing financing constraints.

The total retail sales of social consumer goods in 2011 and had an increase of 17% is still at a low level. The widening income gap, still no significant improvement in overall consumption.

Not only the performance of the European economy is in the doldrums, and the Japan-China relationship continues to deteriorate. "Financial cliff" facing the United States (that is, at the same time facing massive tax cuts expire and government support slash) risk by widespread concern. China's internal and external factors of instability still exist, the People's Bank of China Governor Zhou Xiaochuan also think, "is still difficult to predict the impact of economic growth next year".

Japan in the third quarter, the economy fell 0.9%

The Cabinet Office announced on the 12th of the third quarter of 2012 (July to September), the initial values ​​of the gross domestic product (GDP), discounting price changes, real GDP fell 0.9% from the previous quarter at an annual rate of conversion is decreased by 3.5 %, three quarters of negative growth for the first time since. The last quarter of Japan's GDP growth of 0.3% per annum. The global economic slowdown led to the export slump, caused by the third quarter of Japan's GDP to drop sharply, the Japanese economy has entered a recession.

According to Japan's Kyodo News "news, Prime Minister Yoshihiko Noda said in the House of Representatives Budget Committee meeting:" Data is not optimistic. Efforts to cope with a sense of crisis. "He stressed that the economic stimulus measures enacted in November, go all out to promote economy to the good.

Exports representing a significant year-on-year decrease of 5.0%. Affected by the deteriorating relations between Japan and the first negative growth in exports to China since three quarters. Subsidies for the purchase of environmentally friendly vehicles after car sales decline, combined with poor TV sales, personal consumption fell 0.5%, has shrunk for two consecutive quarters. In addition, the tightening of corporate capital spending (investment in equipment) trend, year-on-year decrease of 3.2%, after a lapse of a quarter of negative growth, resulting in an overall decline in the level of GDP.

East Japan Earthquake reconstruction demand driven, public investment increased by 4.0% in the previous quarter, to maintain growth for three consecutive quarters; residential investment to maintain growth for two consecutive months, an increase of 0.9%, but a limited effect in boosting the economy.

Three quarters of the U.S. hedge fund portfolio exposure

The optional consumer shale oil and gas is still the focus

As of November 12, a total of 135 hedge funds in the U.S. market announced a quarterly 13-F table changes positions, however, in which the management of the market value of only $ 13 billion. As mentioned last week, the positions of the big investment institutions prone to reaction in the market, these institutions often choose to delay the deadline of November 14 announced the 13-F table. In 135 hedge funds zhengbao information statistics 11 the management market capitalization of more than 4 billion U.S. dollars, a simple analysis of the third quarter, data from their investment in wind direction of the small and medium-sized institutions.

Heavily loaded with blue-chip benefit, Gardner led the congregation

11 hedge funds, the size of the average funds under management of $ 6.927 billion. Remove the new season raised Advent Capital Management, 6 to achieve a positive return in the third quarter of 10 hedge funds. The performance of the best Gardner Russo & Gardner relatively cautious investment style plate changes in addition to Masukura non-essential consumer goods (automobiles, retail, building materials belong to this section) and to lighten up the consumer discretionary sector, position changes in the proportion of the remaining plates are within plus or minus 0.3 % range. Throughout the third quarter, the three major U.S. stock index rose about 6%, Gardner Russo & Gardner positions mainly blue chips, the fund with broader market rally lock the optimal revenue in 10 hedge funds, market capitalization rose 8.85%.

Alternative energy by bullish, hedge funds jiacang shale oil and gas

Columbus Circle Investors market value of the third quarter, up 7.05%, the market value of the fund to $ 13 billion, is the largest 135 hedge funds, the Fund Iridian Asset Management, Acadian Asset Management, and Cambiar Investors, and the energy sector as the third quarter Masukura focus, few funds make a small fortune in energy sector investment, of which only three quarters of the market value has shrunk Cambiar Investors, burned by $ 74 million due to Shigekura see empty Medtronic medical failure. Other funds, QS Investors also highly leveraged investment Philip 66 Warren Buffett purchased a net profit of $ 38 million. Further broken down these funds jiacang the energy stocks can be found that are basically mainly of shale oil and gas stocks. From the U.S. to China, the global alternative energy heat really is the main theme of the investment in the third quarter. And in terms of reduction of the plate totally different idea of ​​the funds, the Wall Street plate data from the third quarter, industrial, consumer goods and communications segment must relatively weak performance.

Daily Telegraph: Prime Minister David Cameron promised to help the development of the British financial industry and the defense industry in the global

British Prime Minister David Cameron delivered a speech on Monday promised the government to defend the British financial industry and the defense industry's position in the global market in diplomatic activities. Cameron said at the Lord Mayor's official residence dinner: "Britain is facing employment within a global battle, and I believe we can be to the forefront in the race." British Prime Minister stressed the need to promote the expansion of British enterprises in the global a modern corporate strategy, first developed in the country, he said: "To you must first overseas win begins at home". Cameron said that despite the excessive expansion of the financial sector led to the financial crisis, but banks and other financial institutions are still the future of the British economy a source of vitality. Cameron said must reform and support of the City of London. "Yes, they are indeed committed some terrible mistake, it is necessary and reasonable to deal with these problems, so as to guarantee that they will not make the mistake again, but those who believe that the solution to the problem is to abandon the bank's people, in fact, in the abandoned British. I think it should inspire the potential of the UK financial sector, reasonable regulation and support. Cameron also the development of the defense industry to do a similar exposition, and that he will support the British defense equipment companies BAE Systems. Cameron last week visited the Gulf countries, and trying to Typhoon fighter aircraft sale to Saudi Arabia. The face of external criticism of their help sell weapons, Cameron said: "The sale of weapons is very important for British companies signed military contracts to apologize, I will not help businesses."

Apple reached a settlement with HTC

According to reports, Apple (Apple) and China Taiwan electronics manufacturer HTC Electronics Co., Ltd. (HTC [microblogging]) recently issued a joint statement announced that the two sides reached a settlement on a global scale, undo all current patents against each other litigation, the two sides signed a 10-year validity of the patent license agreement. This is the first time Apple and Google [microblogging] Andrews (Android) smartphone manufacturer in a patent battle to reach reconciliation.

The settlement agreement covers both companies and the future holds a number of patents, although specific terms were not announced, but it means that the two sides will continue to avoid court. The executives of the two companies expressed satisfaction with the results of this reconciliation, said Apple CEO Tim Cook, Apple are very pleased to have reached a settlement with HTC, Apple will continue to focus on product innovation. HTC CEO Peter Chou said HTC resolved disputes with Apple are very satisfied, so HTC will be able to focus point shift from patent litigation to product innovation to.

Analysts believe that reconciliation is very beneficial for both companies. For HTC, it can finally freed from a patent dispute with Apple to focus on opening up the market and product research and development, you can also use Apple's many patents in order to increase the competitiveness of their products; For Apple, to launch "the patent war "has always been Apple sniper HTC the purpose of expanding the market, now the purpose has been basically reached, Apple continue to struggle not only no actual income, but also need to pay a lot of legal fees, the settlement just Apple can get away and concentrate their firepower" deal with larger rival Samsung [microblogging].

To the U.S. International Trade Commission (ITC) in March 2010, Apple sued HTC infringement of Apple's patents, HTC also counterclaim After several rounds of litigation, HTC successfully reduced the number of Apple's alleged infringement patents to only one Apple infringement . Analysts pointed out that the two sides have conducted several rounds of negotiations, a settlement is also reasonable, the settlement also cited the "troubles" to the other members of the Andrews camp, such as Samsung and Motorola [microblogging] movement.