Half of U.S. adult Twitter users now consume news on the platform and get news through the social media platform, mainly on mobile devices, according to a new survey. The report by the Pew Research Center in collaboration with the John S. and James L. Knight Foundation was released on Monday. The results are based on a survey of more than 5,000 U.S. adults including Twitter and Facebook users.
Twitter users who consume news on the platform, defined as information about events and issues that involve more than just family or friends, represent only 8 percent of the U.S. adult population.
Almost half of all U.S. adults on Facebook use the social media platform founded by Mark Zuckerberg to consume news as well according to a study from the Pew Research Center released two weeks ago. But that group represents nearly one-third of all U.S. adults. Twitter has about 200 million users worldwide, while Facebook has 1 billion. The survey also underscores how young people consume news because almost half of Twitter news users are between the ages of 18 and 29. The network known for short messages of up to 140 characters is preparing to make one of the most closely watched initial public offerings later this week. It raised the price range for its IPO by 25 percent earlier on Monday, valuing the company at up to $13.6 billion…numbers that investors surely won’t have any problem consuming!
Tag Archives: Investors
Is Barclays Guilty Of Currency Trading Manipulation?
Barclays has added its name to a widening currency trading probe, which could become a scandal on a par with Libor manipulation. It has become the latest bank to admit it is facing an investigation into whether its staff were involved in attempts to manipulate global foreign exchange markets. The bank confirmed it was reviewing trading activity by its employees for several years, up to as recently as this August, as part of an international inquiry into alleged rigging of currency markets. The Financial Conduct Authority, the UK’s market regulator, is currently one of several organisations currently in the early stages of an investigation into the potential rigging. Barclays admission came as the bank reported its third-quarter results, which showed its statutory pre-tax profits for the last three months had increased by nearly £700m quarter-on-quarter to £351m. A strong shot of morning coffee may be in order for the folk at Barclays!
Suspicious Minds? Dubious Trades Before Jobs Report in Three Charts
Another major economic report, another round of speculation about suspicious trading activity seconds before its release. A number of futures contracts Tuesday morning showed “distinct activity just before 8:30:00,” says Eric Hunsader, founder of Nanex, a Chicago firm that studies and distributes stock-market data. He illustrated the moves in a number of charts on his firm’s website. The September jobs report was released at 8:30 a.m. Eastern Time after being delayed by more than two weeks due to the partial government shutdown. The report showed U.S. employers added just 148,000 jobs last month, a sign the labor market stumbled heading into Washington’s latest round of budget battles. Mr Hunsader is no stranger to pointing out suspicious trading and some critics contend his data doesn’t always tell the full story. Yet, these days, it’s no longer a question of whether some players are getting a faster look at market-moving news, but whether it should be allowed. Government agencies and other producers of widely-watched economic reports are pondering new ways of releasing information with the aim of leveling the playing field. Not for the first time, suspicions are rife…the time has surely come for ‘fair game’.
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- License to Trade
Shutdown brings Stock Market to Standstill- The man with the Midas touch? As lurching gold prices mystify traders is “Goldfinger” lurking out there?
- US Job Growth: September report may be last clean gauge of the job market…
Awaiting the NFP report
Obama Administration Won't Back Down from JPMorgan Criminal Probe
Stocks Finish Strong in the US
All three major indices finished superbly by the end of trading on Friday and had one of the best weeks of the year overall. The Dow, S&P 500 and Nasdaq ascended substantially, will all three seeing increases between 2.1 and 2.8 per cent. Dow and Nasdaq were both nearing record highs on Thursday although there was no major facilitator to cause the soar. It seems that investors are expecting the stocks to reach new highs in the coming weeks and therefore continue to trust in the bull market’s sustainability. Friday’s momentary sell-off was due to worse-than-expected data, but did not impact hugely the largely successful week of strong performance by the three major indexes.
Portugal, Ireland to Avoid Disaster
Portugal and Ireland, two debt-ridden Eurozone economies will likely receive more time to repay their loans after a meeting between euro ministers in Dublin on Friday. The news was welcomed by both countries which have struggled tremendously with ailing recoveries after massive debt-crises. Both countries look to receive an additional seven years to pay back their debts and make a healthy and robust return to the financial markets.
The finance ministers would be wise to discuss the potentially catastrophic consequences of the bloated and bigger-than-expected Cyprus bailout package which could derail the small island nation and even lead to mass exodus. Such worries became more realistic after ti was rumored that Cyprus needs to cough up an additional 6 billion euros to cover the expenses thus increasing the total amount to 23 billion euros. The figure is higher than the size of the whole Cypriot economy.
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Et tu, Slovenia?
The markets had just gotten comfortable with the botched Cyprus bailout and the turmoil that followed, when Slovenia emerged as yet another country to potentially require a bailout. If the eurozone’s history is any indication, rumors tend to come true. Now, Slovenia, with successive governments rejecting attempts to privatise the country’s banks, is facing a banking crisis. The small Balkan state needs to recapitalise its banks, but does not have the means to do so. The eurozone leaders are once again faced with a new challenge likely to spur resentment across Europe. Citizens all over the eurozone are growing tired of seeing a constant flow of tax money to countries that have – for a variety of reasons – mismanaged their economies.
Super Mario to the Rescue?
The euro fell earlier on Thursday as investors were anticipating ECB chairman Mario Draghi’s policy suggestions to revive the ailing single currency following substandard attempts to save Cyprus. Draghi said in a recent press conference that ECB’s monetary policy will remain accommodative.
“In the coming weeks, we will monitor very closely all the incoming information on economic and monetary developments, and assess the impact on the outlook for price stability,” Draghi said to reports on Thursday.
Most investors did not expect Draghi to make significant changes which could have either potentially boost the euro or create a backlash and thus possibly deepen the recession.
IMF to Give Cyprus €1bn
As part of the €10bn troika rescue package, International Monetary Fund contributes 1 billion euros. IMF president Christine Lagarde told the press that the monetary fund will give Cyprus a three-year loan to assist the country with efforts to restructure the ailing island nation’s sickly banking sector. Lagarde said that “the IMF has reached staff level agreement with the Cypriot authorities on an economic programme that will be supported by the IMF jointly with the European Union and the European Central Bank”. As part of the bailout, Cyprus’s second largest banks, Laiki Bank will be shut while Bank of Cyprus will have to go through serious restructuring.
Manufacturing Rallies?
The recent index rally in the US has inspired many to applaud FED chairman Ben Bernanke for his pro-market fiscal policies. Peter Schiff, the CEO of Euro Pacific Capital points out in his recent article that market performance “is now almost completely correlated to Fed activism”. Indeed, market rallies, as with S&P 500 and Dow Jones, tell us more about investor confidence and very little about actual economic health of country and the companies listed in these indexes. Schiff argues that all recent market rallies are preceded by fresh stimulants from the FED and thus the markets fall when the stimulus tab runs dry.
For the investor, it’s imperative to know which variables to look at before investing. If Schiff is correct, markets will surge after Bernanke’s next decision to stimulate the economy. In other words, a case can be made that the rallies we are currently witnessing are largely artificial. Stock-investing is a powerful and historically efficient tool to boost the economy, but if Schiff is right, the only this investors are boosting is a big fat bubble - wholly dependent on the government’s economic policies.
Euro Bounces Back
The euro bounced back from its four-month low on Tuesday morning as investors were anticipating data from the eurozone’s factory output. Eurozone PMI data is expected to be released later today. The single currency gained strength against the dollar, but Thursday’s European Central Bank meeting led by Mario Draghi will likely be the real determinant of the euro’s general direction. Moreover, concerns over the ongoing crisis in Cyprus continue to worry investors. The eurozone’s handling of the Cypriot debacle has been disastrous and it will take time until confidence in the euro returns in full strength.
