Financial News 10/4/12 – Presidential Debate 2012, Wall Street Up, Facebook surpasses 1bn


Financial News 10/4/12 – Presidential Debate 2012, Wall Street Up, Facebook surpasses 1bn

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    Interesting outcome for the first presidential debate! According to polls and analysts, it seems that flip flop Romney decided to remain firm on the ground las night, may have “unofficially” won this one. After the 90-minute duel centring on taxes, the deficit and healthcare, polls gave Mr Romney a 46-67% margin with Mr Obama trailing with 22-25%. Commentators said Mr Romney appeared in command while Mr Obama was hesitant. The two candidates attacked each other’s economic plans, with Mr Obama describing his rival’s approach as “top-down economics” and a return to Bush-era policies. Mr Romney derided Mr Obama’s policies as “trickle-down government”. Mr Romney pledged not to reduce taxes for wealthy Americans, and said Mr Obama had misrepresented Mr Romney’s tax plans on the campaign trail. As of Septmber 28th – President Obama leads by 49% with a Romney trailing very close behind him with 46%.

    U.S. stocks rose at the open this morning, following encouraging comments by European Central Bank President Mario Draghi on tools to tackle the region’s debt crisis. Mario Draghi said, the ECB was primed to buy troubled euro zone < http://www.reuters.com/subjects/euro-zone> bonds, when conditions were right and that this had already calmed financial market tension. He said the euro zone’s economy was expected to remain weak but that near-term price increases had let the ECB keep rates on hold. The central bank announced that its governing council had decided to keep its main refinancing rate steady at 0.75 percent, a record low.

    Facebook now has more than one billion people using it every month, the company has said. The passing of the milestone was announced by founder Mark Zuckerberg on US television on Thursday. The company said that those billion users were to date responsible for 1.13 trillion “likes”, 219 billion photos and 17 billion location check-ins. The site, which was launched in 2004, is now looking towards emerging markets to build its user base further. Quote Mr Zuckerberg “Helping a billion people connect is amazing, humbling and by far the thing I am most proud of in my life.” Although the service is by far the world’s biggest social network, key areas, such as China and Russia, still use local networks. Last month, Mr Zuckerberg visited Moscow, where he made his first TV chat show appearance, as well as a highly publicised meeting with the Prime Minister, Dmitry Medvedev. A PR campaign designed to unsettle VKontakte – a network that has over 300 million members in the country. Facebook has only 7 million members in Russia. I dunno with the way Putin is cracking down on any foreign influence on his nationals, this PR push may end up being in vain. Much easier to control your own network isn’t?

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