1. J.P. Morgan Adviser Admits Stealing $22 Million From Clients:
A former J.P. Morgan Chase & Co. investment adviser on Thursday admitted to stealing roughly $22 million of his clients’ funds, in part to cover personal expenses.
2. Adidas is making a big push in the US:The sportswear brand plans to spend big after increased marketing and sponsorship spend in the region helped boost US sales.
3.Presidential candidate Ben Carson is launching a new hip-hop radio ad on Friday to target young voters:
“Ben Carson, twenty-sixteen. Vote and support Ben Carson. For our next president to be awesome,” a rapper, identified as “Aspiring Mogul,” says in the ad.
4.Starbucks is so successful in one area that even Apple should be jealous:
One in five of all Starbucks transactions in the US are now mobile.
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5.Municipal bonds are shining in a bleak landscape:
Investing in boring bridges and sewers is paying off once again.
Municipal bonds sold by U.S. state and local governments are returning about 2% this year, according to Barclays PLC data, beating corporate bonds and many other supposedly higher-performing asset classes.
6 .Cameroon Considers Dollar Bond Issue:
Cameroon is considering issuing a dollar-denominated bond in what would be its first foray into the international sovereign bond market.
Cameroon is rated at ‘B’ with a stable outlook by both Standard & Poor’s and Fitch. Affirming its rating on Oct. 23, S&P said it expects Cameroon’s economy to grow by at least 5% annually between 2015 and 2018, but noted that the country faces risks relating to weak institutions, issues over presidential succession, and widening fiscal deficits.
7. Oil Prices Retreat on Oversupply:
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Oil prices slid hard at the end of Thursday’s session as a bigger-than-expected increase in U.S. oil stockpiles, falling product prices and strong production number out of Russia kept gains in check.
8. European shares fall as Richemont and luxury stocks slide:
European stock markets fell on Friday, with luxury goods stocks among the worst performers after Richemont warned of tough times ahead.
The pan-European FTSEurofirst 300 index was down by 0.4 percent in early session trading, while the euro zone’s blue-chip Euro STOXX 50 index fell 0.4 percent. Richemont’s decline dragged down the shares of its rivals, with Swatch falling 5 percent while LVMH also declined by 3.3 percent.
9. Nikkei rises for 3rd day as yen weakens ahead of U.S. jobs data:
Japanese stocks rose on Friday for a third day as a weaker yen helped sentiment, while investors carefully awaited the U.S. non-farm payrolls report due later in the day. The Nikkei share average ended 0.8 percent higher at 19,265.60. For the week, the index gained 1.0 percent, rising for the third straight week.
10. U.K. Industrial Output Falls, Trade Drags on Economic Growth:
U.K. industrial production fell more than the forecast in September, capping a weaker third quarter than initially estimated.
In the third quarter, manufacturing declined 0.4 percent. That’s a sharper drop than the 0.3 percent estimated in the Oct. 27 GDP report.