Goldman Sachs’s Cohn Says Oil Prices May Hit $30 in Extended Slump (Bloomberg)
Oil prices will probably continue to decline and could reach as low as $30 a barrel, according to Gary Cohn, president of Goldman Sachs Group Inc. “We’re probably in the lower, longer view,” Cohn, a former oil trader, said Monday in an interview with CNBC.
J.P. Morgan Reportedly Gained Up to $300 Million in Swiss Franc Turmoil (WSJ)
J.P. Morgan Chase & Co. notched $250 million to $300 million in gains after the Swiss central bank triggered turmoil in the markets in mid-January, a person familiar with the gains said. This comes as other banks, brokers and individual investors suffered hundreds of millions in losses when the Swiss currency jumped following the Swiss National Bank ’s decision to stop reining in the value of the franc against the euro. The currency grew by nearly 30% against the euro and 18% against the dollar and unleashed new volatility in credit and currency markets around the world.
Fink Says Swiss Avoiding Recession May Be Bad News for Euro (Bloomberg)
“There’s always been a debate, should Germany be in or out of the euro,” Fink told Bloomberg Television’s Erik Schatzker and Stephanie Ruhle during last week’s annual meeting of the World Economic Forum in Davos, Switzerland. “One of the arguments has always been about Germany -- is it would-be suicide if they walked away from the euro because it would have a currency that revalued 20 or 30 percent.” If Switzerland avoids a “recession and the economy continues to fare fairly nicely what does it mean for an economy a little north of here?” he said atop the Alps. “I do believe it will lead to a large debate within Germany from the right wing about look what Switzerland did.”
BBQ Burglar Steals $4,000 Worth Of Ribs, Chicken, Wings And Fries (HP)
Last Wednesday, a robber broke into Jerome Brown BBQ and stole $4,000 worth of ribs, chicken, wings and fries from the restaurant, News4Jax.com reports. The rib-loving robber gained entry by prying open a side door and also took away an empty cash register before winging it out the door. Surveillance video caught the BBQ burglar in the act, but the Jacksonville Sheriff's Office have yet to track down a suspect.
BNY Mellon may face bribery charges over sovereign wealth funds: filing (Reuters)
Bank of New York Mellon Corp has disclosed in a filing that U.S. regulators are considering charging it with violating U.S. foreign bribery laws after an investigation into internships it gave to relatives of sovereign wealth fund officials. In a regulatory filing on Friday, BNY Mellon said that U.S. Securities and Exchange Commission staff had notified it that they would recommend the SEC charge the bank over alleged violations of the Foreign Corrupt Practices Act. A case from the SEC would be the first to come from a long-running investigation into banks' dealings with sovereign wealth funds.
Blizzard 2015: What Went Wrong With the Forecasting? (WSJ)
National Weather Service experts misjudged the path and impact of the blizzard that struck the Northeast on Monday and Tuesday, in large part because they trusted the wrong forecasting model, several independent meteorologists said. Rather than rely on their own forecasting system—upgraded in recent weeks—the federal experts placed their faith instead on a well-regarded European computer model that predicted the worst of this storm would squarely hit New York City. That system earlier had outperformed the U.S. forecasting system in predicting the path of superstorm Sandy. This time, the European forecasting model was wrong, several commercial forecasters said.
De Blasio Defends Aggressive NYC Storm Measures as ‘No-Brainer’ (Bloomberg)
“Would you rather be safe or unsafe?” the mayor asked reporters during a City Hall news briefing where he defended his and Governor Andrew Cuomo’s moves to restrict travel. “To me it was a no-brainer. We had to take precautions to keep people safe.”
Miracle cat buried alive, digs himself out of grave 5 days later (NYP)
Bart didn’t have a cat in hell’s chance of coming back from the grave — but after being buried for five days, he clawed his way back. The miracle feline’s misfortune started when he was struck by a car and his grief-stricken owner laid him to rest. “The cat appeared to be lifeless and the owner buried him. Five days later, the cat showed up in a neighbor’s yard alive!” the Humane Society of Tampa Bay in Florida told ABC7.com. The badly hurt, weak and dehydrated kitty dug himself out of the grave and crept back slowly. Bart needed treatment for facial wounds, a broken jaw and a ruined eye — but his owner couldn’t afford a vet, so he took his pal to the Humane Society. There is no purrfect ending yet, however, because Bart — who can’t eat due to pain — still has a lot of recovering to do.