In The News:
According to Kenneth Feinburg, the attorney hired by GM to compensate victims, at least 36 people have been killed and at least 44 people have been seriously injured in crashes involving General Motors (GM) vehicles with faulty ignition switches. Since August, the fund tasked with compensating victims has received 229 death claims and 1,986 injury claim and has made compensation offers to 57 of the 80 eligible claims so far. Initially, General Motors claimed that 13 people died in crashes involving the defective switches. Later, however, the auto giant acknowledged that the death toll would go higher. This has been a tough year for GM owners, as more than 30 million vehicles worldwide have been recalled for a range of problems.
Hacks on Wall Street…
According to a report released by researchers at FireEye, Inc (FEYE), a network security firm, hackers for more than a year have stolen merger-and-acquisitions information from over than 80 companies. A group called FIN4 by FireEye has been tricking top executives, lawyers, and consultants into providing access to confidential data and communications. The group is believed to be using the information for insider trading. FireEye believes the group is made of Americans who have worked in the financial sector based on the jargon used to obtain the information. FireEye report did not the specific names of any companies that had been actually hacked however, they detailed several case involving health-care or pharmaceutical companies who experienced stock price swings due to news on mergers, clinical-trial results, and regulatory decisions. The report brings to light a new issue: hacking for the purpose of insider trading.
In the Markets:
Asian shares rallied on Tuesday as investors embraced the idea of potential new stimulus for China while disregarding Monday’s downgrade of Japan’s credit rating.
European markets closed down on Monday as disappointing manufacturing date from the Eurozone and the U.S weighed on investors’ minds.
U.S shares closed in the red on Monday as tumbling gas prices and weaker economic data had investors wondering about the global growth picture. DJIA: -51.44 17,776.80 NASDAQ: -64.28 4727.35 S&P: -14.12 2053.44
In Word Of The Day:
Santa Claus Rally
A surge in stock prices which occurs in the week between Christmas and New Year’s Day. Numerous explanations for the Santa Claus Rally phenomenon includes tax considerations, Wall Street happenings, people investing their Christmas bonuses and the fact that the pessimists are usually on vacation this week.
In Dinner or Drink:
2 tablespoons ginger liqueur
2 tablespoons vanilla-citrus liqueur
1 1/2 tablespoons coffee-flavored rum
1 tablespoon honey
2 teaspoons whipping cream
1 cup ice cubes
Garnish: partially split vanilla bean brushed with liqueur and rolled in sugar (optional)
Dip glass rims in ginger liqueur and crushed gingersnaps. Store glasses in freezer up to 2 days.
Stir together 2 Tbsp. ginger liqueur, vanilla-citrus liqueur, coffee-flavored rum, honey, and whipping cream in a cocktail shaker. Add ice cubes; cover with lid, and shake vigorously until thoroughly chilled (about 30 seconds). Strain into a chilled martini glass. Garnish, if desired.
Note: We tested with Brinley Gold Coffee Rum, Tuaca Vanilla Citrus Liqueur, and Domaine de Canton ginger liqueur.
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