>>> BHP/Vale : Brazil judge freezes assets of Vale and BHP after finding their j

Brazil judge freezes assets of Vale and BHP after finding their joint venture Samarco was unable to pay damages for the dam burst in Minas Gerias - press 
- The judge ruled that Vale and BHP could be held liable for the BRL20B ($5B) in damages being sought by the state of Minas Gerais. Vale argued unsuccessfully that Samarco was independent legal entity that should be wholly responsible for the accident and resulting fines and damage awards.

>>> Barrons Summary: Positive cover story on MSFT; positive on SNA, MON, and ass

Barrons Summary: Positive cover story on MSFT; positive on SNA, MON, and asset management stocks 

Cover story: Positive on MSFT: Under chief executive Satya Nadella, Microsoft's vast scale has become an asset rather than a liability, and the company is competing strongly with AMZN in the cloud and building new hardware that rivals AAPL's; Nadella "has captured Bill Gates' innovative style and the growth that often eluded Steve Ballmer," a formula that promises more upside. 

Features: 1) Positive on BLK, IVZ, BEN, TROW: Asset managers' shares are down, but investors "are overlooking the industry's favorable characteristics, including modest capital requirements, high profit margins, and strong cash returns to shareholders"; 2) Positive on SNA: Shares are up 25% this year, and "strong revenue growth, margin gains, and double-digit earnings increases will provide further fuel for the stock"; 3) Positive on MON: Company's dwindling premium presents a good opportunity for investors, and fast growth in new areas could double earnings within three years. 

Tech Trader: Though Barron's correctly predicted that investors would reap gains from so-called FANG (FB, AMZN, NFLX, GOOGL) companies in 2015, older tech players such as WDC, STX, EMC, and NTAP didn't fare as well, partly because of fallout in the PC market. 

Trader: Weak oil prices and slowing global growth remain major concerns for investors, says Cameron Hinds of Wells Fargo Private Bank, and volatility might increase over the near term for other technical reasons; Four factors dogged stocks this year: lower commodity prices, a strong dollar, soft economic growth and currency devaluation in China; and the Fed's interest-rate hike; Unlike in 2014, the Trader's picks underperformed the market in 2015. 

Interview: David Levy, chairman of the Jerome Levy Forecasting Center, says that although the U.S. economy is in good shape, it's not strong enough to fend off weakening fundamentals elsewhere, especially emerging markets. 

Profile: Sonu Kaira, portfolio manager, Fidelity Blue Chip Growth fund, keeps 20% of his holdings in small and midsize companies that could see double-digit earnings growth (top 10 holdings: AAPL, GOOGL, AMZN, FB, GOOG, GILD, CRM, HD, V, AGN). 

Small Caps: Positive on PTEN: Driller is a standout in the troubled oil sector because of its defensive qualities, including financial strength and a fleet of modern, top-notch equipment that limit potential downside. 

European Trader: European stocks are finishing the year with solid gains, and the region is on firmer footing than it was 12 months ago. 

Asian Trader: Asia's weak performance in 2015 stems from a retreat by global investors "who couldn't envision strong corporate returns in most of the region and worried that emerging market countries with dollar-decimated debt would be hurt." 

Emerging Markets: Emerging markets took a hit this year from the decline in oil and commodities prices and weakening Chinese demand, and countries' domestic policy often did more damage than worry about the Fed. 

Commodities Corner: "The strength of the dollar will give no reprieve next year to already pummeled commodities markets."

Streetwise: VRX was the ultimate "myth-versus-market" company in 2015, and disproved hedge-fund manager Bill Ackman's claim that it would be the next Berkshire Hathaway.

>>> Fed's Powell (moderate, FOMC voter): A 25 bps rate hike will not have a majo

Fed's Powell (moderate, FOMC voter): A 25 bps rate hike will not have a major impact on the economy; rising rates is a sign of Fed's confidence in the economy; the Fed was not backed into a corner on this rate hike 
- The right policy is to start now and continue to raise rates gradually
- Want to see continued progress in the labor market and in inflation
- There has been too much focus on the timing of the first rate hike
- The economy has recovered quite a bit since the financial crisis, the the improvement has not been uniform across the US
- The Fed can cut rates back to the zero bound if it should become necessary, that's "not impossible"

Barron's : Cooler Forecast for 2016 Advertising; Digital to Top

Cooler Forecast for 2016 Advertising; Digital to Top TV for First Time

As the promotional landscape continues to change, companies will spend more on digital media than TV for the first time.

The good news is that U.S. advertising spending in 2016 is expected to be better than in 2015, driven by continued robust growth in digital media. The not-so-good news is that it won’t be as strong as initially hoped, because traditional media sales continue to slide and digital’s growth is decelerating slightly.

Still, digital media is on track to overtake television as the No. 1 media category for the first time, reaching $68 billion in advertising revenue in 2016, according to Magna Global, a unit of the Interpublic Group of Companies. The hottest category, mobile, is expected to rise 44% next year; desktop ads are forecast to shrink by 1%. Advertising on social media, forecast to rise 31%, to $13.8 billion, and online video, 40% higher, to $8.8 billion, are in boom times.

Barron’s highlighted this shifting landscape in a 2009 cover story (“Glad Men,” Sept. 14) in which we called the bottom for advertising sales after the financial crisis, but pointed out that the recovery, disrupted by digital media, would bear little resemblance to former cycles.

The biggest winner in this new ad world: Facebook (ticker: FB). “You have to be with Facebook because the magnitude of the growth is unique, and it is still in the early stages of monetizing Instagram,” its mobile photo-sharing network, says Larry Haverty, media specialist and portfolio manager at Gabelli Multimedia Trust (GGT), a closed-end fund.

Although Facebook wasn’t public at the time of our story, one pick was Google (GOOGL), today known as Alphabet. The company’s popular search engine and online video service, YouTube, is another big beneficiary. The shares have risen more than 200% in the interim. Other picks included Walt Disney (DIS), up 300%, and Yahoo! (YHOO), up about 100%.

As we predicted, there have been big shifts in the business. As more corporate ad budgets shift to digital outlets, growth in advertising revenue no longer correlates with economic growth the way it once did. Researchers at Magna Global refer to this phenomenon as “digital deflation,” with the tipping point first appearing in TV advertising in the second half of 2014: Lower viewership led to lower pricing, as media budgets went digital.

Growth in ad sales is now forecast to come in at 3.3% in 2016, to $170 billion, down from previous estimates of 3.8%, according to Magna. The outlook doesn’t include the effect of political ad campaigns in an election year or promotions for the Summer Olympics in Brazil. Traditional media outlets, including TV, print, and radio, continue to lose ground, and revenue from that group is expected to shrink by 2.9%.

Digital advertising, on the other hand, is expected to increase by 15%, slightly less than 2015’s 16%, as ad blocking and fraud raise concerns about customer engagement.

(Hollywood Reporter) Why Tel Aviv is Hollywood's New Billion-Dollar Sin City

http://www.hollywoodreporter.com/news/tel-aviv-is-hollywoods-new-848528

WHY TEL AVIV IS HOLLYWOOD'S NEW BILLION-DOLLAR SIN CITY

Madonna has a $20M pad there, Barbra Streisand has taken 100 rooms and Gerard Butler has been bailed out by pals in the new trendy getaway that has been called the "sexiest city in the world."
Why Tel Aviv is Hollywood's New Billion-Dollar Sin City Why Tel Aviv is Hollywood's New Billion-Dollar Sin City ILAN SHACHAM/OCEAN/CORBIS
DECEMBER 18, 2015 MERLE GINSBERG
It may be smack-dab in the middle of the Holy Land, but over the last decade Tel Aviv has unveiled itself as a kind of glamorous new Sin City. The tantalizing beaches, cafes and nightlife, along with its unique mix of the Middle East with a Mediterranean party atmosphere, ensure the lifestyle-loving capital continues to buzz with energy. It couldn't be more contrary with the image of many of the uninitiated: "People think we're still riding on camels!" one local told THR. "They also think we're always at war — and it's not safe here." Yet upon arrival, one finds a bustling urban respite with all the things sophisticated seekers are hoping to find, and more.

Why the exodus to the Israeli coastal city? "Tel Aviv is the sexiest city in the world!" declares native Motty Reif, a producer and founder of Tel Aviv Fashion Week (its fourth was held in October) who's also resided in Los Angeles. But it's not just the sultry heat that Hollywood embraces. Tel Aviv's thriving TV and film business compels the entertainment industry to visit frequently — to schmooze and to buy. "Tel Aviv's now a world capital," says producer Howard Rosenman, who's been spending winter holidays there (it's a 15-hour direct flight from L.A.) for more than a decade, as well as developing a number of homegrown projects. World-traveling director Brett Ratner calls it "the most cosmopolitan place I've ever been. A scene of cosmic proportions." Producer Ben Silverman loved it so much he got married there five years ago. "It's the utmost free open society – Christians, Muslims, Arabs, Jews... Even the Jews are from all different countries," he says. Showtime CEO David Nevins went for the network's Homeland shoot but returns because he is in awe of it: "The place is a real 20th century city — ancient and modern."

Read more Hollywood's 11 Last Survivors of the Holocaust

New world, indeed. Real estate prices have skyrocketed — Madonna reportedly paid $20 million dollars for a pad in a new Richard Meier-designed, all-white luxury tower. "Tel Aviv is a very good investment: the economy's stable, and real estate prices have literally doubled in five years," says Israeli-born producer Avi Lerner. And the area dubbed "Silicon Wadi" (the Arabic word for "valley") has emerged as a digital mecca: $1.7 billion of funding was tracked in 2014 alone.

So how did this long-distance love affair between industry honchos and Tel Aviv — a connection that's spawned such shows as In Treatment, Homeland, Dig and Tyrant — begin? CAA television co-head Adam Berkowitz, current chairman of the entertainment division of L.A.'s Jewish Federation, attributes a lot of it to 14 years of Federation trips for entertainment execs (including Discovery's Marc Graboff, CBS' Nina Tassler and WME's Nancy Josephson, who led one in 2011) to meet local writers and directors — and have meetings with the likes of Prime Minister Benjamin Netanyahu and former President Shimon Peres.

And it's not just the town's execs who have embraced Tel Aviv — stars often go for work, then return for pleasure: Gerard Butler stays with friends there, as does Ryan Gosling (pals had to bail him out when his car stalled on the road to Jerusalem). Hometown girl Natalie Portman gets her facials at Yullia salon, while Rihanna has enjoyed a green mud bath at the Dead Sea. Barbra Streisand takes 100 rooms at The Dan, and Jerry Seinfeld's set to perform two Christmas week shows there.

"Tel Aviv is a special place," declares Israeli actress-producer Noa Tishby, who has been credited with starting the feeding frenzy for Israeli formats when she brought BeTipul to HBO, and In Treatment was spawned. "So much joie de vivre, so much emotion — and Hollywood's really tapped into that."

BEACHES

There are no big waves along the 9-mile shore of Tel Aviv, but pristine beaches stretch from Herzliya to Jaffa. And unlike L.A., the water's warm and everyone swims — there's even a religious beach for the ultra-Orthodox. Make sure you take the long promenade walk from Tel Aviv to Jaffa, but be prepared: There isn't much sunblock in this year-round temperate climate — Israelis aren't afraid of the sun (or aging apparently). Haim and Cheryl Saban favor the Hilton beach, near Hayarkon park. "We walk the whole line — there are unobstructed views of the sea," says Haim. L.A. producer Lati Grobman favors Banana Beach, near South Tel Aviv: "You go on Friday nights and have your watermelon and cheese and beer outdoors. You meet your friends there, and life is good."

Read more Hollywood Is Flocking to These Warm Winter Wonderlands

BARS/CLUBS

Tel Aviv's bar scene has a legendary party-hard reputation, considered the equal of New York, London and Hong Kong. "I don't go out to clubs in New York and L.A. — I'm too old for that now," laughs Ratner. "But you have to go bar hopping in Tel Aviv!"

Bellboy
bellboybar.com

Set in boutique Hotel Berdichevsky in the heart of the city, this bar is famed for artisanal cocktails by master mixologists who take their time. The quirky speakeasy's motto is: "We don't care how long it takes us, we're going somewhere beautiful."

Nanuchka
nanuchka-tlv.com

Situated on the barfly strip that is Lilienblum Street, this backroom bar and restaurant resembles a gypsy caravan and is hailed as the world's first vegan Georgian restaurant. But guests still dance on the bar once the dairy-free food is no longer being served.

Shushu
221 Ben Yehuda, T.A.

Shushu ("keep quiet") is an appropriate name for an underground dance bar (also a pick-up place slash eatery) with a discreet entrance through a yogurt shop. If you can't get in the door, try the yummy yogurt instead.

HOTELS

While the major luxury high-rises attract celebs and execs alike (Demi Moore stays at the David InterContinental, Justin Bieber took 30 rooms at the Sheraton, while The Dan boasts Denzel Washington and Jon Bon Jovi), the big draw in the last few years are design-centric boutique hotels.

Hotel Montefiore
hotelmontefiore.co.il; from $350 per night

Set in the heart of Bauhaus-era White City, this intimate 12-room hotel attracts such stars as Audrey Tautou and Michael Douglas and Catherine Zeta-Jones. Its 1920s-inspired restaurant serves Vietnamese fare, lavish Israeli breakfasts and killer cocktails.

The Norman
thenorman.com; from $450 per night

Also in White City, this art deco villa opened last year, and CAA's Berkowitz is the Hollywood mogul who helped make it industry-desirable. "I take all my meetings here. I don't have to leave the hotel," he says. "I even got David Nevins to stay there!" Sean Penn stayed there on a recent trip.

The Brown TLV
browntlv.com; from $162 per night

Nestled between the popular Neve Tzedek artsy neighborhood and the city center, this 4-year-old hotel has a high-design urban vibe — plus tons of privacy. That's why Claire Danes resided here whenever Homeland shot nearby.

The Brown Beach House
brownhotels.com; from $135 per night

Opened in 2015 by the owners of Brown TLV, this airy sister establishment is just a block away from the water and has 40 rooms with private sun terraces and sea views.

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FOOD

Producer Lerner insists "the food in Tel Aviv is as good as any city in Europe or America — and you can go to dinner at 11 p.m. and eat a great meal!" Josephson says: "I'll go back just for the bread and olive oil!" Of course, there still are indigenous places for falafel, shawarma and myriad little bowls of salads, but the other hot culinary ticket is an Israeli breakfast. With sumptuous buffets of cheeses, olives, breads, eggs and fruit, it's Tel Aviv's most celebrated meal of the day. "I'd go back just for breakfast," says Tassler. "I've never tasted yogurt like that. I'm actually planning a trip now!"

Cantina
the-rothschild.com/cantina-restaurant

"It's where you see all the film people, politicians and artists," says Lerner. Israeli actors, producers, models, et al — they're all here noshing on pizzas and pastas, and drinking Arak with grapefruit juice. "If you're in our business," says Grobman, "it's your living room."

The Sarona Market
3 Aluf Kalman Magen St, T.A.

Israel's largest indoor culinary market — think Dean & DeLuca on steroids — hosts 91 shops of cheeses, produce, pasta, pastries, chocolate, veal and fish — exotic food porn basically. It even sports a halvah bar and an ice-pop stand.

The Blue Rooster
thebluerooster.co.il

Boasting a scene made up of models, musicians (Mick Jagger and The Rolling Stones), actors (Tobey Maguire) and businessmen, this rustic, lively restaurant is located in the newish North Tel Aviv high-rise where model Bar Rafaeli lives.

Dallal
dallalcoil.rest-e.co.il

Set in a 19th century courtyard surrounded by townhouses, this is the most uniquely gourmet restaurant in Tel Aviv's artsiest neighborhood, Neve Tzedek — the West Village or Silver Lake of the city.

This story first appeared in the Dec. 25 issue of The Hollywood Reporter magazine. To receive the magazine,