Archive forMay, 2015

UBS Survey Reveals Why Apple Inc. Is Succeeding In China

In the research released on Thursday, UBS analysts were bullish on Apple Inc. (NASDAQ:AAPL) operations in China, as they believe that the region has become a key driver for the worlds most valuable companys performance. According to the research firm China is contributing over 50 percent of growth at above-average margins.

UBS highlighted Apple CEO, Tim Cooks statement and actions related to China. He was reported to have said in Apples second quarter of fiscal year 2015 (2QFY15) earnings release, The progress weve made in China has been remarkable and we continue to make incredible investment in China.

Mr. Cook also said that the growth rate in China is far more than rest of the regions around the globe and it may surpass the US in the long-term and become the biggest market for Apple.

UBS analyst, Steven Milunovich, believes that Apples pull-strategy (in which product demand is generated within the target market) is working because it is an aspirational brand, as it provides products at premium prices, and the upper-middle class population is increasing China. According to the sell-side firm, Chinas upper-middle class, which earns RBM 106,000 to RAMB 229,000, is expected to double in the next seven years.

Bloombergs data suggest a continuous revenue growth trend from Apple in China. In 2QFY15, the region accounted for roughly 19% of total Apples revenue. Mr. Milunovich believes that Apples will continue to flourish in China, due to increasing consumers in the middle/upper middle class, and improving satellite coverage in the region. Recently, 4G technology was rolled out in China.

Furthermore, Apple has improved its online presence and doubled its retail stores in China, which is supposed to help the company to cater surging demand for its products.

Although, mobile-phone sales plunged in the March quarter in China, Apple remains the market leader. During the quarter, Apple sold more iPhones in Greater China compared to North America for the first time in the quarter, according to Mr. Milunovich. He said, Apple is not only the best-selling high-end smartphone but overall phone.

According to UBS, appreciation in Apple stock price may rely on at least modest iPhone unit growth in FY16, which is possible on continued strength in China.

UBS reiterated its Buy rating with a price objective of $150 on Apple stock. According to Bloomberg, 39 out of 57 analysts that cover the stock rate it as Buy, 15 recommend it as Hold and only three are in favor of Sell. The 12-month average price objective of Apple stock is $148.83, which has 13.22% potential upside based on current stock price. As of 1:20 PM EDT, Apple stock has plummeted 0.45% to $131.45.

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Legal team to draft rules for new campaign finance law

Montana’s political practices commissioner on Wednesday assembled a team of lawyers to work with his staff and him to draft rules to implement a major new campaign finance law.

Besides drafting the rules for Senate Bill 289, the campaign finance law, the team will update and adjust more than a decades worth of the election, campaign finance and ethics rules administered by the office of the commissioner of political practices to reflect court decisions and office rulings.

“It’s a huge task we were given, and it’s a huge task force we’ve assembled to deal with the huge task,” said Political Practices Commissioner Jonathan Motl.

Motl is using some of the $94,000 in funding for supplementals for his office that that the conference committee added to HB2, the main budget bill, late in the legislative session.

The team of outside lawyers from the state Justice Department consists of Assistant Attorneys General Jim Scheier, bureau chief of Agency Legal Services, and Sarah Clerget and Kirsten Madsen, with the same bureau.

Mike Black, a private attorney in Granite County and until last year, chief of the Civil Services Bureau in the Justice Department, is also working on the rules.

They will be working on the rules over the next six weeks, but on a part-time basis because of their other responsibilities in the Justice Department, or in Black’s case, his private practice.

All are being paid hourly rates for their legal services, although in the case of the assistant attorneys general, the Justice Department will be paid by Motl’s office for their time.

Motl, who is an attorney, and the other lawyer in his office, Jaime MacNaughton, also will be working on the rules, among other tasks. Also assisting on the rules will be the office’s investigator, Vanessa Sanddal, and its program supervisor, Mary Baker.

In addition, Anne Sherwood, who is completing her first year of law school at the University of Montana, will be working for the political practices office this summer on the rules and other projects.

“It’s a good team,” Motl said. “I firmly believe in the power of the group.”

Everyone brings biases, he said, but when a group works on a project like the rules, it can come up with a product without biases.

“The decisions have to completely withstand scrutiny,” Motl said.

The drafting of the rules will be completed by June 30, he said.

They will be the subject of a public hearing at some point and a hearing before the interim State Administration and Veterans’ Affairs Committee of the Legislature.

Motl said the final version of the rules will adopted and take effect at some point between Sept. 15 and Nov. 15 in time for the 2016 election.

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To Grandma’s House We Go… and Stay

She was six years old when she left home on her bike with a suitcase she packed with clothes and another filled with toys.

To grandmas house she went.

But this was no picnic. And the big, bad wolf? He was a father fueled by alcohol.

Her three older brothers stayed behind.

But not for long. They too eventually made their way to the safe haven of their grandparents house.

Thats when the child welfare system intervened and these kids became self-described clock fighters. They were desperate to make progress re-modeling their grandparents house so it would pass state standards.

That would mean they could stay together as a family with relatives who loved them unconditionally.

At a recent briefing hosted by the Senate Caucus on Foster Youth, JJ recounted his sisters journey and his familys saga. He shared some of the painful details of their experience with courage and a contagious smile.

He wanted to inform and motivate Senate staff to support policies that favor family over fraction.

JJ talked about the many court dates, and the endless efforts to comply with foster care requirements that eventually led to his grandparents filing for bankruptcy.

Still the family remained intact. Today, over a decade later, JJ has a Masters degree in communications and is taking time out of the workplace to care for the grandmother who cared for him.

At the same briefing, Dolores Bryant, a social worker and family caregiver said, The families are brave enough to step up and fill a need. They deserve our support.

And indeed they do. Children raised in kinship care, or what are commonly referred to as grandfamilies, fare better than those placed in the care of non-relatives. They are more likely to report feeling loved, achieve stability, stay connected to their brothers and sisters and understand their roots and culture.

They are also more likely to have a couch to crash on when theyre too old to be in the foster care system. After all, young people may age out of a system, but they never age out of a family.

Today, about 400,000 children are in foster care. Around one-quarter of these live in foster homes headed by a relative.

The vast majority of the nearly 2.5 million children currently being raised by grandparents or other relatives without a parent present are outside the system.

That means relatives are raising 23 children outside of the system for every one child they are raising in the system and they do so with little to no support.

These caregivers keep families together and save taxpayers $4 billion a year.

The current child welfare financing structure gives little room for the flexibility needed to best support relative caregiver families both inside and outside the system. In fact, our federal financing structure and on the ground practices are better — yes better — at supporting children in non-related foster care than the care of relatives.

The current structure also relies too heavily on congregate care or group homes rather than investing those dollars to support relative caregivers to nurture and care for children in families.

That needs to change.

We need to listen to kids like TaKijah who said at the briefing she told social workers she wanted to live with her grandparents, but no one listened. It wasnt until she was in the 7th grade she was finally able to find stability, live with her grandparents and finish out the last four years of school in the same school. She now works on Capitol Hill and advocates for permanency policies for kids who are experiencing the temporary, transient placements she experienced as a child.

As the day drew to a close, JJ talked about his grandfather who passed away a couple of years ago.

When he was dying he gave JJ the ultimate gift.

His grandfather said, If I had it all to do again, I wouldnt have done it any other way. I am so proud of you.

JJs grandparents stepped up. Now its time for policy makers to show they too believe families are where children belong.

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OC firm Corinthian Colleges files for bankruptcy protection

Denise Horn, a spokeswoman for the Department of Education, said the agency will pursue all of our options through the bankruptcy proceedings to secure as much of the $30 million as possible. A spokeswoman for the Consumer Financial Protection Bureau said the case is ongoing, but declined to comment further.

The California attorney general will continue to vigorously pursue relief for the thousands of students harmed by Corinthians predatory conduct, spokeswoman Kristin Ford said.

In some rare cases, Pottow said, the judge may decide to lift the stay on a pending case against a company filing for bankruptcy if its deemed too complicated to handle. But generally, he said, the government has to share with everyone else and wouldnt get special treatment in a bankruptcy case.

Bankruptcy is quick, its sweet, its dirty and its incredibly efficient, he said.

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Running low on cash? Here are quick, legal ways to get it

MANILA If youre running low on cash, there are alternative sources of cash that are legal and quick.

Financial adviser Salve Duplito said among these sources are salary loans or other types of loans from the Social Security System (SSS) and Government Service Insurance System (GSIS).

These loans dont need collateral; offer interest rates that are much lower than credit cards; and payment can be done via salary deduction.

Its very common for people to forget their SSS and GSIS benefits, especially those who are employed and dont have to lift a finger to pay monthly contributions, Duplito said on ANCs On The Money.

Insurance policies can also help in providing money through borrowing, cashing in, or withdrawing the cash value.

By taking advantage of insurance benefits, there is no need for collateral and the interest rates are lower than credit cards, said Duplito.

You can also sell assets and personal items through a well-thought out garage sale. Plus, its a great way to de-clutter, said Duplito.

Turning garbage into money can be especially lucrative if youre talking about scrap metal, she added.

Also consider selling expensive items such as jewelry, art, or limited edition books.

You can even consider selling hair, plasma or blood, said Duplito.

The last option, according to Duplito, is to borrow from a relative. She said borrowing is only acceptable if it is done the Salve Way, which involves putting your planned borrowing in writing; attaching a payment schedule; and offering to pay interest.

Borrowing from a relative is acceptable to me only if it is done this way, she said.

Duplito also advises against paying attention to scams offering loans through text messages.

She said the sender may just be guessing the number anyway, and once they confirm that the number is working, they will send more spams or worse, they could use the mobile number to hack accounts.

Stick to legal but innovative ways of raising money fast and stay away from quick sources of cash that can be very costly and even dangerous, she said.

She also advised avoiding quick cash loans using cars as collateral, uncollateralized loans not sourced from well regulated financial institutions or credit card advances and other loans that carry very high interest rates.

Its also very common for people to borrow at a higher rate of interest rather than liquidating investments. Thats a huge mistake, she said.

Duplito also noted that emergency funds are created precisely for emergencies, so tap them when the unexpected happens.

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Jarryd Hayne admits he still has a huge mountain ahead at San Francisco 49ers

Ill go through a day where its smooth and I really understand it, then the next day theres 60 or 70 new plays. Im like I havent even heard of half of these plays before, whats going on.

Its also hard with the CBA becuase there is a certain amount of hours the coaches can work with the players and the majority of that working time is as a group so its hard to coach one person when you have to coach the group.

Haynewouldnt speculate on his chances of making the 53-man roster at the end of August.

He has plenty of support in his corner, but he knows there is plenty of competition for positions and despite living the life of superstar back home, things are different here.

You have to realise everyone is still wanting to make the roster,Haynesaid.

We have maybe 50 per cent of the boys who are guaranteed a spot and the rest of the boys that are chipping away looking to make the squad. Part of this experience was humbling myself and the biggest thing was defining that what I do is who I am.

I want to be the person who takes on challenges and doesnt think anything is too hard and dont limit myself. I dont want to have any limits to what I can do and what I can achieve. Part of that humbles you and for me, being in the spotlight from a young age in Australia, its very refreshing coming over here and just chipping away.


Haynes teammates have been asking all sorts of questions about Australia, including which animal is the most deadliest. I say its only in the bush land.Youre not going to be in the hotel and snakes are going to come through. Being from Australia, theres a misconception.

Haynes teammates arent quite clear on the difference between rugby league and rugby union. Have you played the All Blacks, they asked.

Haynestill hasnt got a nickname. Everyone at the Eels had a nickname. I was getting told I would get Skippy or Aussie, but its justJarryd. Its a bit unique because at Parra everybody had a nickname.

The first thingJarrydHaynewill put in his suitcase when he returns home will be an espresso machine. Coffee is okay. Its nothing compared to Australia. One of the boys, Jerome Simpson, he loves a coffee in the morning. I was like mate, if I get a chance to go back Ill bring back an espresso machine or something. Bring back some real coffee. I havent got a car yet. I was looking at a couple of leases and financing a car but being pretty busy its tough.

His teammates know about the HaynePlane. A couple of boys do who have watched my highlights and have been on YouTube. Theyve tried it out.

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Finance Minister blasts Sinn Fein’s ‘economic lunacy’

Finance Minister Simon Hamilton insisted his main partner party in the power-sharing Stormont administration hasnt a clue when it comes to economic or fiscal matters.

His attack came after Sinn Feins South Down candidate Chris Hazzard outlined a number of the partys policies, including a state-owned bank in Northern Ireland and a raft of measures to help low-income families.

But Mr Hamilton quipped they amounted to a Hazzard warning in which Sinn Feins economic illiteracy has been well and truly exposed.

He said Mr Hazzards performance on the BBC Nolan Radio Ulster programme owed as much to Groucho Marx as Karl Marx.

Unfundable harebrained idea after harebrained idea flowed from Mr Hazzards mouth as he suggested that government should clear peoples credit card debts, car loans and mortgages and that a state-owned bank be established offering lower rates to anyone Sinn Fein approves of.

The Finance Minister, who is currently doubling up as health chief for the departed Jim Wells, went on: Buy a new car. Paint the house. Go on holiday. Pay for them on your credit card. Dont worry about your mounting debts. Sinn Fein will get the government to pick up the tab. How much would this mad idea cost the taxpayer?

I suspect Sinn Fein, who are more than happy to take, take, take from HM Treasury, couldnt care less how much it would cost hardworking people to pay for their potty ideas. Not for the first time, the message from Sinn Fein is spend, spend, spend.

And bluntly referring to the Provisional IRAs Northern Bank robbery in December, 2004, he added: As for establishing a state-owned bank, maybe Sinn Fein with their unique experience of banks could put their – or rather others – money where their mouth is and place, say, £26m into the reserves of this new bank to get things started.

Mr Hamilton also said Sinn Feins plans to ask the next UK government for £1.5bn more for Northern Ireland appeared not to recognise that it would mean public spending across the UK having to increase by £54bn.

But writing in the Belfast Telegraph today, Deputy First Minister Martin McGuinness confirmed SF will seek an immediate renegotiation with the new Government after the election to reinstate £1.5bn to Northern Irelands block grant.

This austerity agenda is the single greatest threat to the people of the north and its political institutions. The absence of fiscal powers have made the Executives task even more difficult. Taxes raised here should stay here and the Executive should decide how they are spent.

In the immediate aftermath of the election, Sinn Fein will seek an immediate negotiation with the incoming British Government to secure a workable budget, including the reinstatement of £1.5bn to the block grant, to support job creation and the delivery of strong public services.

He said Sinn Fein would also prioritise job creation – including through the provision of quality affordable childcare – both attracting inward investment and supporting small and medium-sized enterprises, working to create a Border Economic Development Zone, and ending zero-hour contracts.

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