News 

Bulgaria says it will end passport-for-sale policy ahead of EU warning schemes could help criminals

“Bulgaria is one of three EU countries, along with Cyprus and Malta, that currently grant citizenship against investment” writes Rowan Pelling for telegraph.co.uk. In Bulgaria, foreigners can obtain a passport, which opens the door to most EU countries, for investments ranging from 1 million levs (£448,000) to 2 million levs.”The data shows that the aim to increase real foreign investment and economic development has not been achieved.As a result new jobs have not been created or economic growth been boosted,” the ministry said in a statement.Bulgaria plans to stop allowing…

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News Stocks 

IBM’s stock falls ahead of earnings report that has usually led to losses

“Of those post-earnings reactions, the average of the 16 declines was 4.4% and the average of the four gains was 3.6%” writes Reporter Editor for marketwatch.com. IBM’s stock has lost 5.6% over the past three months, while the Dow Jones Industrial Average DJIA, -1.03% has slipped 3.2%.IBM, -1.07% dropped 0.8% in morning trade Tuesday, ahead of the technology company’s fourth-quarter report due out after the bell.History suggests investors have good reason to be cautious ahead of the report, given that the stock’s one-day, post-earnings reaction has been negative after 16…

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EasyJet posts revenue drop, sees decline ahead

“Budget airline easyJet PLC (EZJ.LN) on Tuesday said revenue per seat fell 4.2% in its first quarter and that, with around 40% of all potential bookings secured for the second quarter, it anticipates further decline” writes Oliver Griffin for marketwatch.com. The airline said that given its current 2Q booking levels it expects revenue per seat in the first half to decline by the mid-to-high single digits.EasyJet said total revenue for the three-month period rose to GBP1.30 billion from GBP1.14 billion. EasyJet also anticipates booking GBP10 million in customer-welfare costs due…

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Japan removes porn magazines ahead of Rugby World Cup and Olympics

“The two companies are following in the footsteps of Ministop, which halted sales of adult magazines in 2017, and FamilyMart Co., which has stopped sales of pornography at 2,000 of its 16,000 stores” writes Bob Seely for telegraph.co.uk. Two of Japan’s largest 24-hour convenience store chains are to ban sales of pornographic magazines ahead of the Rugby World Cup later this year and the 2020 Olympic Games in Tokyo due to concern that the ready availability of adult publications will give visitors a bad image of the nation.Seven-Eleven operates around…

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UBS posts fourth-quarter pre-tax profit miss, sees bumpy road ahead

“On an adjusted basis, fourth-quarter pre-tax profit fell to $860 million, under conditions Chief Executive Sergio Ermotti described as “historically tough”” writes Midwest Communications Inc for 95kqds.com. ZURICH (Reuters) – UBS on Tuesday posted a $862 million fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank.Five analysts polled by Reuters on average had forecast a net profit of $4.906 billion for 2018.As clients removed risk from their portfolios, traded less and stocked up on cash amid geopolitical tensions, adjusted…

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News Oil 

Oil falls ahead of China data, but OPEC-led cuts support

“Despite this, analysts said supply cuts led by OPEC would likely support crude oil prices” writes Midwest Communications Inc for 95kqds.com. International Brent crude oil futures were at $62.43 per barrel at 0132 GMT, down 27 cents, or 0.4 percent, from their last close.It was biggest decline since February 2016, as drillers reacted to the 40 percent plunge in U.S. crude prices late last year.However, U.S. crude oil production still rose by more than 2 million barrels per day (bpd) in 2018, to a record 11.9 million bpd.Still, analysts expect…

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