Reuters - Note with Einstein's theory on life auctioned for $1.3 million


JERUSALEM (Reuters) - Strapped for cash in a Tokyo hotel, Albert Einstein wrote his take on life on a note and handed it to the bellboy instead of a tip. The physicist’s formula for happy living fetched $1.3 million on Tuesday, a Jerusalem auction house said.

In 1922, Einstein was en route to Japan when the announcement came he would be awarded the 1921 Nobel prize in physics, Winner’s Auctions and Exhibitions said.

Upon his arrival in Tokyo, he holed up in his hotel room trying to put his thoughts to paper.

When an attendant came to his room to make a delivery, Einstein found himself without any money for a tip.

Instead, he handed him a signed note with one sentence, written in German: “A calm and humble life will bring more happiness than the pursuit of success and the constant restlessness that comes with it.”

According to the auction house, Einstein advised the bellboy to keep the note, saying that some day its value will surpass the amount of a standard tip.

Almost a 100 years later, Einstein was proven right after the bellboy’s nephew contacted the auction house to put the note up for sale. The identity of the online buyer has not been revealed.

(CNBC) Michael Bloomberg says Brexit is ‘single stupidest’ thing a country has e

Michael Bloomberg says Brexit is ‘single stupidest’ thing a country has ever done … besides Trump
* "I did say that I thought it (Brexit) was the stupidest thing that a country has ever done — but then we trumped it," the media mogul said at a panel event in Boston
* Bloomberg, who was in London Tuesday inaugurating new offices in the capital with a reported price of $1.3 billion, said that such an investment decision would probably have been different if he had foreseen the Brexit vote


The U.K.'s decision to leave the EU is the second most "stupidest" decision ever made by a country, only beaten by the U.S. voting for President Donald Trump, according to Michael Bloomberg.

"I did say that I thought it (Brexit) was the stupidest thing that a country has ever done — but then we trumped it," the media mogul said at a panel event in Boston two weeks ago, unearthed by the Guardian newspaper on Tuesday.

"It is really hard to understand why a country that was doing so well wanted to ruin it," he added. "My former wife was a Brit, my daughters have British passports, so we love England – it's the father of our country, I suppose. But what they are doing is not good and there is no easy ways to get out of it because if they don't pay a penalty, everyone else would drop out. So they can't get as good of a deal as they had before," he said.

Bloomberg, who was in London Tuesday inaugurating new offices in the capital with a reported price of $1.3 billion, said that such an investment decision would probably have been different if he had foreseen the Brexit vote.

"We are opening a brand new European headquarters in London – two big, expensive buildings. Would I have done it if I knew they were going to drop out? I've had some thoughts that maybe I wouldn't have, but we are there, we are going to be very happy," he said in Boston.

Bloomberg noted that many of his U.S. and U.K.-based employees have informed him that they want to leave these locations because they feel both countries have become more closed-minded to immigration. Bloomberg reiterated his comments on Brexit and Trump at an event in France on Monday, the Guardian reported.

The 75-year-old former Big Apple mayor considered standing as a third-party candidate in the 2016 U.S. election but eventually ruled it out.

LG Innotek Third Quarter Operating Profit Misses Estimates

{NSN OYD9JJ6JTSFY <GO>}
*LG INNOTEK SAYS IN CONFERENCE CALL FOR 3Q EARNINGS : 
*LG INNOTEK: DELAY IN CAMERA MODULES FOR IPHONE X CONTINUING
*APPLE ADMITS DIFFICULTIES INNOTEK FACES WITH `NEW TECH':INNOTEK
*PRODUCTION FOR IPHONE X MODULES `IMPROVING STEEPLY': INNOTEK
*NO PROBLEM IN DELIVERING PRODUCTS FOR IPHONE 8 PLUS: INNOTEK
*IPHONE X DEMAND LIKELY STRONG INTO 1Q DUE TO DELAY: INNOTEK
*YIELD IS `STRONGER BY BIG MARGIN' COMPARED TO RIVAL: INNOTEK

{011070 KS Equity CN <GO>}

>>> UPM can afford larger deal now - arvopaperi.fi

UPM can afford larger deal now
Finnish paper and pulp company UPM [HEL: UPM] is nearly debt free and can afford to make a large acquisition now, according to Arvopaperi.
The Finnish-language unsourced analysis on the company’s results said that UPM had net debts of EUR 623m at the end of September whereas last year it had debts of EUR 1.5bn.
Because its balance sheet is now healthy, the company can afford to make even larger acquisitions without having to seek help from banks. However, the company can afford to take out more debts in case it needs to make a larger move and the group could afford an additional EUR 2.5bn funding, the item said.

>>> What to look at today - 25th of October 2017

Dow +0.72% S&P +0.16% Nasdaq +0.18% Russell +0.20%
US MArket Closed higher after solid numbers from CAT +5% & MMM +5.9%, UTX -1% after better numbers. materials sector (+0.6%) finished roughly in line with the industrial space, but the heavily-weighted financial sector (+0.7%) did even better, making the most of a curve-steepening trade in the bond market. health care sector (-0.7%) finished at the bottom of the sector standings, alongside other countercyclical groups like consumer staples (-0.3%) and telecom services (-0.6%). US After Hours AKAM +11%, IRBT +6%, MKSI / KRA / RGC +4% higher and ACHC -18%, AMD -12%, MANH -11%, CMG -9.5%, EW / JNPR -7% lower following earnings/guidance. Asian equity markets opened the session mostly higher. The Nikkei 225 is attempting to have its 17th straight higher close but reverse 1h before the close. Canon Higher on better numbers. In the financial sector, Japanese ‘mega banks’ have continued to gain following Sunday’s election results. Mitsubishi UFJ has risen by over 1.5%, while Mizuho Financial has gained over 1%. US companies due to report on Wednesday include Amgen, Boeing, Coca-Cola, Freeport-McMoran, International Paper, Las Vegas Sands and Visa.

Nikkei -0.37% Hang Seng +0.21% CSI +0.14% Shanghai +0.05% Shenzen +0.10%

Eur$ 1.1765 CNH 6.6396 CNY 6.6392 JPY 113.79 GBP 1.3137 CHF 0.9897 RUB 57.5575 WTI$ 52.34 -0.25%

S&P -0.20% EuroStoxx -0.14% Dax -0.15% SMI -0.09% FTSE -0.30%

Macro :
- Xi Promotes No Clear China Heirs, Opening Door to Keep Power
- Rajoy’s Allies Said to Flinch at Draconian Tactics for Catalonia
- U.K. Brings Brexit Transition Push Into Line With EU Stance
- Saudi Prince Tells Investors He’s Taking On Religious Extremists

Keep an eye on :
- ANA SM :
- AIR FP : *AIRBUS NEW LONG POSTIONS AT LAKEWOOD CAPITAL: LETTER
- AIR FP : Bombardier Rating Cut by Moody’s Citing Leverage, Execution Risk
- AI FP : Air Liquide Reports 3Q Revenue EU4.94B Vs. Est. EU4.96B
- AENA SM : Aena Nine Month Net Income EU965.5 Mln
- ALFA SS : Alfa Laval Third Quarter Pretax Profit Misses Lowest Estimate
- AZA IM : Cerberus Capital Is Said to Propose Takeover of Alitalia: FT
- AMD US : AMD Tumbles After Flat Gross Margin Forecast Raises Concerns
- BAS GY : BASF Announces $250 Mln Bonds in Same Series as March Issue
- BG AV : Bawag Sells Stock at EU48, Raises EU1.93B in Biggest Vienna IPO
- BX US : Blackstone Plans to Double Assets to $800b in Five Yrs: CEO
- CAP FP : Capgemini Sees Full Year Operating Margin 11.7% To 11.9%
- CEC GY : Ceconomy 4Q Sales Rise 4.6% to EU5.26b; Est. EU5.12b
- DAI GY : Daimler CEO Says Cartel Concerns Were Identified Two Years Ago
- DAI GY : Daimler CEO Says ‘Trepidation’ Amid Trump Presidency Remains
- DSY FP : Dassault Systemes Cuts FY EPS Target to EU2.57-EU2.61
- DBK GY : Deutsche Bank Is Carrying Out Block Trade of Liberbank Shares
- DB1 GY : Three Deutsche Boerse Investors Want CEO Kengeter to Resign: FT
- DTE GY : Sprint Merger With T-Mobile Would Kill 20,000 Jobs, Union Says
- EDF FP : ASN View on EDF’s 900 MW Reactors May Be Delayed Post 2019: AFP
- ELUXB SS : Whirlpool Move From Sears Good for BBY, LOW, HD: Credit Suisse
- ERF FP : Eurofins Scientific Sees Full Year Revenue EU3.35 Bln
- ITP FP : Interparfums Raises FY Rev. Outlook to EU400M to EU405M
- DEC FP : JCDecaux Wins 9-Year Ad Contract for Bogota EL Dorado Airport
- KEMIRA FH : Kemira Third Quarter Ebitda 1.8% Above Estimates
- KER FP : Kering 3Q Beats Estimates as Gucci Races Ahead
- KORI FP : Korian Third Quarter Revenue EU791 Mln
- KOS LN : Kosmos Says Eq. Guinea Oil Deal to Immediately Add to Cash-Flow
- LBK SM : Liberbank Executes Previously Announced Capital Increase
- LHA GY : Lufthansa May Divest Routes in Air Berlin Buy: Vestager to FAZ
- MIC SS : Millicom Third Quarter Ebitda Meets Estimates
- MONC IM : Moncler 3Q Rev. Beats Ests; Co. to Open 8 Retail Stores in 4Q, 3Q ‘Solid as a Rock,’ Driven by Wholesale: Analysts
- NESN VX : Nestle to Certify 20 Water Bottling Sites for Sustainability
- NDX SS : Nordax: Potentially Has SEK500m in Available Capital Above Goal
- OKDBV FH : Oriola Third Quarter Adjusted Ebit Misses Estimates
- UG FP : PSA 3Q Rev. Rises 31.4% to EU15.0B
- RFRG NA : PAI Consortium to Buy Refresco for EU20/Share in EU1.62b Deal
- REZDT SS : Rezidor Third Quarter Ebitda 4.9% Above Estimates
- RNO FP :  Renault 3Q Rev. EU12.2B; Confirms FY Guidance, Ability to Continue Prices Hikes Reduced in Future: CFO
- ROG VX : Roche to Cut Costs, Innovate as Competition Increases: Chairman
- SAN FP : Sanofi Filed A Patent Infringement Suit vs Mylan
- SRT3 GY : Sartorius Stedim Cuts FY Sales Growth Target to 4% vs 8%-12%
- STB NO : Storebrand Third Quarter Net Income Beats Highest Estimate
- SSAB SS : SSAB Third Quarter Ebitda Beats Estimates
- TKTT FP : Tarkett 3Q Net Sales EU824M; Sees FY Adj. Ebitda Slight Drop
- TKA AV : Telekom Austria Third Quarter Ebitda EU410 Mln
- TEF SM : Telefonica Transfers 62M Telxius Shares to KKR for EU790.5M
- O2D GY : Telefonica Deutschland Cuts FY Adj. OIBDA Target, Div. EU0.26
- TLX SM : Telefonica Transfers 62M Telxius Shares to KKR for EU790.5M
- FP FP : Api in talks with banks to obtain EUR 680m for TotalErg acquisition
- UBER IPO : After London Ban, Uber Faces Regulatory Threat in Brazil (1)
- UNA NA : Unilever Spreads Auction Is Said to Have 3 on Shortlist:Reuters
- FR FP : Valeo 3Q Like-for-Like Sales Rise 5%
- ALVXM FP : Stryker Buys 51% of French Medical Device Maker Vexim, Stryker Acquires Control of Vexim for EU20/Shr
- DG FP : Vinci Nine Month Revenue EU29.2 Bln
- VOS GY : Vossloh Nine Month Ebit EU43.3 Mln

>>> Europe : Brokers Upgrades & Downgrades - 25th of October 201

>>> Up
* Europcar Raised to Buy at Kepler Cheuvreux, PT EU15
* Gecina Raised to Overweight at JPMorgan, PT EU160
* Mediaset Raised to Outperform at MedioBanca
* Swiss Re Raised to Overweight at Barclays

>>> Down
* Aperam Cut to Neutral at Goldman
* Axel Springer Cut to Hold at HSBC, PT EU63
* Breedon Cut to Neutral at Davy
* Novartis Cut to Underweight at Barclays
* Outokumpu Cut to Neutral at Goldman
* SRP Groupe Cut to Hold at Berenberg, PT EU20
* Troax Cut to Accumulate at Handelsbanken, PT SEK330
* Whitbread Cut to Equal-weight at Morgan Stanley, PT GBP45

>>> Initiation
* Genedrive New Buy at Peel Hunt, PT 150p
* Hansa Medical New Buy at FBR, PT SEK475
* Metro AG New Buy at Baader-Helvea, PT EU22

>>> Call