Apple...'extremely sorry'

Apple CEO says 'extremely sorry' over glitch in Maps app, stock tumbles 2%

Reuters | Updated On: September 29, 2012 17:56 (IST)

San Francisco: Apple Chief Executive Tim Cook apologized Friday to customers frustrated with glaring errors in its new Maps serviceand, in an unusual move for the consumer giant, directed them to rival services such as Google Inc's Maps instead.

The rare apology follows Apple's launch of its own mapping service earlier this month, when it began selling the iPhone 5 and rolled out iOS 6, the highly anticipated update to its mobile software platform.

Users complained that the new Maps service - based on Dutch navigation equipment and digital map maker TomTom NV's data - contained geographical errors and gaps in information, and that it lacked features that made Google Maps so popular from public transit directions to traffic data and street-view pictures."We are extremely sorry for the frustration this has caused our customers and we are doing everything we can to make Mapsbetter," Cook said in a letter to customers released on its website, adding that the company "fell short" of its commitment to deliver "the best experience possible to our customers."
......................http://profit.ndtv.com/news/international-business/article-apple-stock-falls-2-as-ceo-apologises-for-maps-flaws-directs-users-to-rivals-311461?pfrom=home-latest

THE BEST "BANKNIFTY" PERFORMANCE…

The best part of the Bank Nifty performance came in Sep-12 after it registered in Jan-12. In Jan-12 F& O series I asked viewers to be long, this recommendation came in last week of Dec-11 that the markets are bottomed out and likely to perform well. The Nifty was in 4700-4750 level and every analyst is extending the journey to 4100 level and to 3900 level with utmost pessimism in the economy and the EURO crisis. I asked the viewers to take DAX as a comparative index and the markets will perform well so long as DAX stays above 5900 level. This helped many viewers to cut their short positions and many went for LONG. Along with the supportive action from RBI cutting the rates and infusing liquidity in the system helped the markets to shoot-up to 5700 level and came down to 5000 level. This has become an intermediate correction rather than a sell off in the markets. The Bank Nifty gained 1850 points in Jan-12 and Now again in Sep-12 it could add 1334 from the previous month closing levels.

Now the real challenge opened to many analysts whether the Nifty would touch 6300 and cross the all time high, and continue to cross all levels to touch 6800 level or look for a consolidation for a longer period. My take away from the readings is that Nifty would consider capping below 5885 level rather than continuing the journey above 5935 level. The stocks financial performance is not going to support the Nifty to stay above 600 levels in the first place and the local and global risk appetite is not conducive with this kind of excessive infusions with bits and pieces of financial support.

I personally believe that the markets may see a SELLOFF in case DAX trades below 6950 level and Nifty trading below 5150 level. This risk always exists as the BOOM is not built on the performance rather than on the excess capital infusion into markets. This scenario is a danger signal to the markets. As of now the markets are in bull grip and will continue to be for some time…..

October Series Nifty September 27, 2012 8:02 PM

Infosys, Wipro, HCL-YOUNG LEADERS..LEAD

27 SEP, 2012, 12.09PM IST, DEVINA SENGUPTA,ET BUREAU 

Infosys, Wipro, HCL and others draw up new checklist of traits in young leaders

BANGALORE: As Indian IT companies try to morph from being mere low-cost service providers to business partners, they are feeling the need for more and better leaders across all levels. InfosysBSE -1.47 %, WiproBSE -1.05 %, HCL and others are drawing up a new checklist of traits they want their next generation of leaders to have.
"One needs to have more courage now," says Matt Barney, Vice-President and Director, InfosysLeadership Institute, referring to employees in leadership roles. "It takes courage to predict what may happen with clients and businesses on a cognitive and computational front." Barney is also on the lookout for those who can learn and are innovative enough to interpret complex problems and come up with practical solutions that clients can apply.
For Barney, such traits are specific to IT because of the faster pace of change. "Till few years back, there was no cloud and before that no Java...one needs to be disruptive here," he adds. Wipro is putting junior and middle management employees through psychometric tests to spot leaders with resilience and detachment. Those chosen are then measured on how they have bounced back from failure. Ability to cope with setbacks is emerging as crucial trait in a volatile economic environment. 
Last year, an MNC IT firm appointed a 39-year-old as head of its business unit in India. Though he was of Indian origin, he had never worked here. He struggled initially. Later, he and consulting firm E&Y changed business tactics. The duo altered business model, made performance management razor sharp and had weekly sales performance reviews instead of bi-annually. He stabilised the Indian business in 18 months.
"While the last downturn was a lesson for senior leaders, this dip in business cycle is for the younger lot to learn from," said Milan Sheth, technical senior trade and partner at E&Y.Business model changes forced by the global economic slowdown are forcing changes too. IT companies are moving to a non-linear model where they are trying to delink revenue growth from the need to hire more hands.In the last five years, the average revenue earned per employee in the sector has increased by 19-20% for companies like Infosys and TCS.
"Earlier, more people on payrolls meant more revenue. But now, clients want more services from a smaller manpower," said PrashantBhatnagar, Director-Hiring and Staffing for SapientNitro, marketing-technology division of technology firm Sapient. "This means hunting for those who are adaptable to disruption and change, can take risks and shorten their tenure of failure quickly," he added. Bhatnagar estimates that around 12% of 2.8 million industry workforce could be thrust in roles that could demand some form of leadership. Sapient employs 7,000 in India, has tweaked its talent selection procedure to seek out candidates who are comfortable with unknown settings. 
IT services firm HCL wants employees who are capable of engaging with clients across different geographies, social and economic backgrounds. "We need employees who are good at problem solving, understand different industries and not just IT. Someone who disrupts our status quo and questions our ideas", saysNaveenNarayanan, Global Head - Talent Acquisition, HCL Technologies. Narayanan gives the example of a junior employee who came up with the idea of an in-house social media portal. Though the senior management was sceptical about the idea, the employee persisted and managed to convince the top brass on need for it. Today more than 3/4 th of the employees are on it...............
http://economictimes.indiatimes.com/tech/ites/infosys-wipro-hcl-and-others-draw-up-new-checklist-of-traits-in-young-leaders/articleshow/16564571.cms

BIOSIMILARS and CRAMS...PHARMA BIG PUSH...

The booming business in biosimilars

Various drug makers are set to cash in on the opportunity

Sushmi Dey / New Delhi Sep 27, 2012, 00:51 ISTWhile conventional generics are expected to face competition and pricing pressures in most developed markets, Indian pharmaceutical companies have already started gearing up for the next big thing — biosimilars. These are generic versions of biological medicines that depend on the same mechanism of action, and are used for the same therapeutic indication, as the innovator product. Various drug makers, such as Dr Reddy’s Laboratories, Cipla, Lupin and Wockhardt, are all set with their plans to cash in on the opportunity. However, experts suggest that to take advantage of it, these companies need commitment, along with a well-charted strategic plan, investment and technical synergy because biosimilars is a long-term game, with many hurdles on the way. The opportunity The biosimilars industry, globally, has been growing stupendously. According to market estimates, the global market for such drugs is seen at around $30 billion and at a compound annual growth rate of over 50 per cent during 2010-15. This growth is driven by two key events: Upcoming patent expiries of leading biologics and a financial crisis coupled with increasing health care costs that has required systems in almost all developed countries to look for low-cost alternatives. THE NEW WAVE Diseases such as cancer and diabetes will be key areas for biosimilars  Core therapy areas for biologics (MAT 12/2010) Market ($ billion) Insulin 15.9 Anti-TNF 15.8 Oncology (MAb) 12.5 EPO 7.6 Multiple sclerosis 7.3 CFS-G 5.0 Blood coagulation 3.1 Ocular antineovascular 2.0 Antiviral (no-HIV) 1.5 Others 16.5 Source: IMS Health While contribution of innovative biologics is continuously increasing, compared to the total pharmaceutical branded sales, a number of top-selling biologic brands such as Herceptin, Enbrel, Humalog, MabThera, Remicade and Aranesp are expected to go off-patent over the next five years. This will open up a wealth of opportunities for companies developing biosimilars.............................. http://www.blogger.com/blogger.g?blogID=349357092995168227#editor/target=post;postID=6444652784696106335

Libor Rates - manipulations..

RBS Instant Messages Show Libor Rates Skewed for Traders By Andrea Tan, Gavin Finch and Liam Vaughan - Sep 26, 2012 10:00 PM GMT+0530 Royal Bank of Scotland Group Plc trader Tan Chi Min told colleagues the firm was able to move global interest rates, according to court filings. Transcripts of internal RBS instant messages were included in a 231-page affidavit filed Sept. 19 by Tan, the bank’s former Singapore-based head of delta trading for Asia, who’s suing Britain’s third-biggest lender by assets for wrongful dismissal after being fired last year for allegedly trying to manipulate the London interbank offered rate, or Libor.“Nice Libor,” Tan said in an April 2, 2008, instant message with traders including Neil Danziger, who also was fired by RBS, and David Pieri. “Our six-month fixing moved the entire fixing, hahahah.” The conversations among traders at RBS and firms includingDeutsche Bank AG (DBK) illustrate how the risk of abuse was embedded in the process for setting Libor, the benchmark for more than $300 trillion of securities worldwide. RBS, 81 percent owned by the British government, is one of at least a dozen banks being probed over allegations they colluded to manipulate the rate so they could profit from bets on interest-rate derivatives...................http://www.bloomberg.com/news/2012-09-25/rbs-instant-messages-show-libor-rates-skewed-for-traders.html

NIFTY-4770 TO 5720 LEVELS

One of the best moves of Nifty from a low of 4770 from 4^th June-12 to 5720 on 21^st Sep-12 is commendable. The real shoot-up took place during this month from 5215 from 5^th Sep-12. In my earlier postings suggested readers to buy from 522 level and only buying. Though Nifty touched 5448 on 23^rd Aug-12, the fall shall be used for accumulation rather than selling the stocks. The F&O expire will put some pressure on the top, Nifty may touch 5580 by this week end.

Now the slide is slow and consolidation is being taken place. The readers can consider reader-BHEL is an indicator…I clearly mentioned that the stock will zoom above 232 and gives the indication that the markets has enough strength. In my earlier postings, last month suggested that HINDLEVER is weak below 525 levels, will likely to touch 508 and 493 level. The first target achieved.

The M&M was recommended for 830-50 range when it was at 725. The stock has potential to cross 935 levels. The only concern is Reliance is not able to trade above 842-45 level which is very important for BULLS to keep their momentum intact. I asked ti Buy DLF, REC Ltd and SESAGOA in my YOUTUBE @BNRSTOCKS- the stocks achieved their target, so try to book profits and wait for the next wave. I also suggested buying SUGAR stocks, continuing to buy…the positions can be off loaded after 50% rise from this level.

The Global news is favouring the Bears rather Bulls. The China stimulus package can again trigger a next wave of up move in our equities. The EURO concern looks like a DEVIL in the bottle. The economic “unity” is at stake. So the stocks will slide fast below 7100 level. So be cautious with our markets.

Our markets won’t fall much until the cabinet expansion is taken place. The distribution of portfolio will change the course. For now, the cabinet is in a hurry to clear all pending approvals and wanted to take up more. The current lines is the restructuring of Rs 1,90,000 crore power distribution bad debts/dues of SEBs. The major beneficiaries are PFC, RECLtd and other private power distribution companies who gain on the liquidity and orders from the power companies.

CBI is probing since 1993 on the COAL block allocation. This is a political vindictive move may benefit the News channels but definitely not for the markets….

NIFTY future...base formations

The Nifty is now at 5720 level touched after 18 months. The “Fall” from 6180 level registered in first week of Jan-11, made a downward journey up-to 5400 in first week of Feb-11. Many investors got trapped at this level. I know some serious seasoned players took huge positions at this level continued to average up-to 5700 level, because all this happened with in one month span, and the fall below 5700 is fast and violent reached 5400 with in 7 trading sessions.

Now the markets took 18 months to consolidate in a range of 5400 to 4700 level. Infy was at 3200 level, Reliance was at 1050 range, Tata steel was at 725 range, Bharati was at 350 range, SBI is in 2750 range, and DLF in 325 range. But the best out performer as a matter of fact is TCS from 725 range, reached now to 1350-1400 range, where as ICICI maintains 1050 range. There much scope existing in the up move to catch up the new highs where as the rally may not stretch with immediate effect.

The Global markets are at their best levels; DOW is now close to its 5 year high. The DAX is my barometer and it still above the support level of 7100, we have to review only it trades below 6950 level. On Friday, the Nifty could breach the 5685 resistance to touch 5720 and closed at 5691 is a positive sign. I consider this month F& O closing will be around 5620-5580 level. So I prefer the markets buoyancy to take some pause before it resume it’s journey. The local news is encouraging but the political uncertainties also exist, may become a drag on the move to continue.

So the Nifty will resume the upward journey may be from 5450-5380 level. I consider Reliance touch 796-805 level. The Bull Zone as such starts above 5765, consolidates between 5765-5935 levels, but the  second “Base Formations” happens above 5865-5935 level to cross 6400 levels. In this zone normally BULL trap may also takes place as it was happened at 6080-6185 range.

BOOST TO ECONOMIC GROWTH....

• INDIA NEWS

• Updated September 21, 2012, 7:44 a.m. ET

                  India Cuts Tax on Overseas Loans  By PRASANTA SAHU And SUDEEP JAIN

NEW DELHI--India's government Friday approved a large tax cut on overseas loans taken by local companies, shrugging off mounting political protests and choosing to continue with growth-supportive steps which have boosted investor sentiment and catapulted local stocks to their highest level in 14 months. The tax rate on the interest paid to overseas lenders by local companies has been reduced to 5% from the earlier 20%, Finance Minister P. Chidambaram told reporters. The move was proposed in the federal budget in March, but cleared only Friday.

The tax cut will start with retrospective effect from July 2012 and run to June 2015. It will apply to overseas loans and long-term infrastructure bonds, said Mr. Chidambaram. The government also held out the prospect of more reforms, saying that the federal cabinet may next week consider a proposal to increase the limit for foreign direct investment in local insurance companies. The latest steps come a week after the government unveiled far-reaching -- but controversial -- overhauls to boost growth, which include allowing in more foreign investments in multi-brand retail, selling stakes in state-run companies and reducing subsidies on the sale of diesel. The steps have sparked widespread protests across the country. A member of the ruling Congress Party-led federal coalition has pulled out of the government, saying the reforms will drive up prices and hurt the common man.

The withdrawal by the Trinamool Congress -- headed by West Bengal Chief Minister Mamata Banerjee -- has reduced the government to a minority in parliament, but it is unlikely to fall because it has the support of other parties. Local stocks were boosted Friday also by news that the government has approved the operational features of a tax-saving program for retail investors in share markets. The Rajiv Gandhi Equity Savings Scheme -- named after a former prime minister who was assassinated by Sri Lankan Tamil guerillas in 1991 -- will allow an income-tax waiver of 50% on new equity investments of up to 50,000 rupees ($904) by retail investors who have an annual income of less than 1 million rupees.

Investors will have to keep their equity investments locked in for at least three years to get the benefit. Investors cheered the government's moves to boost growth: The Bombay Stock Exchange's Sensitive Index closed 2.2% higher at 18,752.83 points after touching 18,866.87---its highest level since July 2011. The rupee surged to a more than four-month high of 53.32 to the U.S. dollar. The greenback was last quoting at 53.43 rupees. The government's recent steps have injected a strong dose of optimism into India's economic picture. The country's gross domestic product growth has slowed to its lowest in nearly a decade. India faces threats also from its wide budget and current-account deficits, as exports and capital inflows suffer due mainly to the global economic troubles.

Analysts say the measures will also support the rupee as the expected inflows will help narrow India's wide current account deficit, which surged to a record high of 4.2% of gross domestic product in the fiscal year through March 2012. The current account gap is seen as the main culprit behind the rupee's 10% fall against the U.S. dollar over the past 12 months. "The risk of a [sovereign debt] downgrade has reduced dramatically over the past few days, which has pushed the rupee into a new trading range of 53.0-54.0 [to the U.S. dollar]," said Ananth Narayan G, regional head for fixed income, currency and commodities at Standard Chartered Bank. The local currency had hit a record low of 57.33 to the dollar on June 22.

Earlier this year, Standard & Poor's and Fitch Ratings had both cut their outlook on India's long-term debt, citing the large fiscal deficit and the lack of progress on overhauls. The tax rebate on overseas loans announced Friday is likely to reduce the cost of loans by as much as one percentage point, said Randhir Singh, director of capital markets and treasury solutions at Deutsche Bank. Some companies had been waiting for a tax rebate to raise loans overseas, he said, adding that the step is likely to increase debt issuances.

Because of lower interest rates, loans overseas are significantly cheaper, but the country's central bank restricts the amount of money that companies can raise offshore so as to manage the country's external debt. In recent weeks, however, the Reserve Bank of India has eased curbs on overseas borrowing for companies in the manufacturing and infrastructure sectors to boost  growth

http://online.wsj.com/article/SB10000872396390444165804578009602465911758.html?mod=WSJINDIA_hpp_LEFTTopStories

Most Influential 50 in 2012 Shows Turmoil: Bloomberg Markets

By Robert S. Dieterich - Sep 5, 2012 9:32 PM GMT+0530

Bloomberg Markets Magazine

The ability to move markets or shape ideas and policies. The clout to affect the price of a security or the structure of a deal. These are the attributes that define the people who hold sway in the world of finance -- those who make up the second annual 50 Most Influential list in the October issue of Bloomberg Markets magazine. 

To find this year’s 50, we drew on the reporting and expertise of Bloomberg News journalists in 150 bureaus around the globe. The chances of making the list go up if someone finishes at the top of the rankings of hedge-fund managers, economists or investment bankers that Bloomberg Markets publishes during the year.

Recent accomplishments count more than lifetime achievement, and we favor people whose influence is growing. Two-thirds of the people in this year’s list are new, reflecting political turmoil, the deepening euro-zone debt woes and the string of difficulties at big financial firms.

We’ve grouped our list into five spheres of influence -- Corporate Power Brokers, Money Managers, Policy Makers, Thinkers and Bankers. We excluded heads of government from our Policy Makers group in favor of the ministers, lawmakers and central bankers who make policy reality.

CORPORATE POWER BROKERS

Warren Buffett CEO Berkshire Hathaway Inc. (BRK/A) Count on Buffett, 82, to frame new financial controversies with old-line value-investing rules. As Facebook shares slid after the IPO, he said: “You shouldn’t buy a farm because you think you’re going to sell it the next day for more money.”

Chung Mong Koo CHAIRMAN Hyundai Motor Co. (005380) The 74-year-old son of the industrial group’s founder has made Hyundai Motor the world’s No. 5 car company and is making inroads in the luxury segment. Hyundai Motor was the most profitable of the world’s large automakers in 2011.

Tim Cook CEO Apple Inc. (AAPL) While Apple’s market value soared during his first year in the top job, Cook, 51, may need many years to show he’s a worthy successor to Steve Jobs. He also has to live up to his $378 million compensation package for 2011.

John Fredriksen CHAIRMAN Seadrill Ltd. (SDRL) He’s undeterred by the worst shipping market since the 1970s. Fredriksen, 68, the world’s biggest oil tanker owner, is betting $11 billion to extend his dominance over the transportation of energy.

Koch Brothers CO-FOUNDERS Koch Industries Inc. David Koch, 72, and brother Charles, 76, have a combined fortune that’s about $11 billion bigger than Bill Gates’s. The siblings set the standard for American titans who seek influence in politics.

Yuri Milner CO-FOUNDER Mail.ru Group Ltd. The largest Russian-language Internet company was a springboard. Milner, 50, emerged as a global tech heavyweight in 2009 by acquiring the largest stake in Facebook. A $100 million house in Silicon Valley reinforces his stature there.

Ginni Rometty CEO International Business Machines Corp. (IBM) Rometty, 55, rose through the ranks to claim the top job in January at the fourth-largest U.S. company by market value. She aims to get operating earnings to $20 a share in 2015, up from $13.44 last year.

Carlos Slim CHAIRMAN EMERITUS America Movil SAB The fortune of the richest man in the world grew by $12 billion this year as of mid-August, helped by share gains for large holdings. Slim, 72, has been a buyer, with America Movil building the largest stake in Dutch mobile-service provider Royal KPN.

Tadashi Yanai FOUNDER Fast Retailing Co. The parent of the Uniqlo clothing chain is the biggest component of the Nikkei 225 after its shares rose 158 percent in the five years ended in mid-August. Yanai, 63, is betting big on China, where his plans call for hundreds of stores.

Mark Zuckerberg FOUNDER Facebook Inc. (FB) The initial public offering in May and the hype that preceded it and the hand-wringing that followed put Zuckerberg, 28, front and center on Wall Street. Now, he needs to show he can generate ad dollars with his network of a billion or so friends.

MONEY MANAGERS

Cliff Asness CO-FOUNDER AQR Capital Management LLC Asness, 45, grew assets under management at AQR by about two- thirds in 18 months, to $54.5 billion as of June 30. The tally includes $7 billion in mutual funds, which range from an arbitrage product to a fund designed to capture stock momentum.

Hamed bin Zayed al Nahyan MANAGING DIRECTOR Abu Dhabi Investment Authority After the death of his older brother in 2010, Sheikh Hamed assumed the top job at Abu Dhabi Investment Authority, one of the world’s three largest sovereign-wealth funds, according to research firm Preqin Ltd.

Chase Coleman FOUNDER Tiger Global Management LLC A 37-year-old protege of Julian Robertson, Coleman claimed the top spot in Bloomberg Markets’ February ranking of the best- performing large hedge funds, on the strength of a 45 percent return over 10 months. “I would always bet on Chase,” Robertson says.

Leon Cooperman FOUNDER Omega Advisors Inc. Average annual returns of more than 13 percent over two decades distinguish Cooperman, 69, as a stock picker with staying power. The question he asks to find value: “What’s ridiculously priced now?”

Ray Dalio FOUNDER Bridgewater Associates LP At the helm of the largest hedge-fund firm, Dalio, 63, mostly has kept the scale of the operation from damping returns. While his flagship Pure Alpha fund lost 3.9 percent in the first half of this year, it had still returned 91.5 percent over three years.

Mary Callahan Erdoes ASSET MANAGEMENT CEO JPMorgan Chase & Co. (JPM) As the top executive in the bank’s global asset management division, Erdoes, 45, runs an organization that managed a cool $1.4 trillion as of March. That includes a hedge-fund group that, on its own, would be the world’s third biggest.

Larry Fink CEO BlackRock Inc. (BLK) Fink, 59, runs the world’s largest asset management company, with $3.56 trillion as of June 30. He’s been telling governments and companies how to handle their investments; now he wants BlackRock to give advice to individuals too.

Bill Gross CO-CHIEF INVESTMENT OFFICER Pacific Investment Management Co. After trailing peers in 2011, Gross, 68, got the world’s largest mutual fund back on track. As of July 31, the Pimco Total Return Fund was beating 98 percent of similar funds both year to date and over five years.

Jeffrey Gundlach FOUNDER DoubleLine Capital LP With an average annual return of 13.9 percent for his flagship bond fund, from its inception in 2010 through July, Gundlach, 52, is beating his largest rivals. His firm is up to about $40 billion under management.

Michael Platt FOUNDER BlueCrest Capital Management LLP His $32 billion firm is among those that profited from the London Whale’s failed trade. Platt, 44, was up 3.9 percent year to date through July in his international macro fund and 2.6 percent in his BlueTrend fund.

POLICY MAKERS

Mamata Banerjee CHIEF MINISTER West Bengal Her Trinamool Congress party, part of the ruling coalition, has stalled Prime Minister Manmohan Singh’s economic reform agenda by opposing foreign retailers. Banerjee, 57, won a landslide in West Bengal in 2011 to end 34 years of communist rule.

Ben S. Bernanke CHAIRMAN U.S. Federal Reserve Bernanke, 58, is either dooming millions to joblessness because he’s politically timid or debasing the currency, depending on which columnist or candidate is speaking. Either way, he’s established himself as one of the most powerful central bankers in history.

Preet Bharara PROSECUTOR U.S. Department of Justice With 66 insider-trading convictions so far during his tenure as U.S. Attorney for the Southern District of New York, Bharara, 43, has established himself as the watchdog with bite. He’s in the post that launched Rudy Giuliani’s political career.

Mario Draghi PRESIDENT European Central Bank When he cut interest rates at his first meeting as president, Draghi, 65, defied his staff and showed he would plot a different course than predecessor Jean-Claude Trichet. Markets are testing his vow to do whatever it takes to save the euro.

Timothy F. Geithner SECRETARY U.S. Treasury Regardless of who wins the presidential race, Geithner, 51, plans to step down. Yet he still has the power to be a thorn in the side of leaders in Europe, pushing them to act more decisively to strengthen the currency union.

Paul Ryan CHAIRMAN House Budget Committee A member of the Young Guns, who rose quickly to challenge older Republican leaders in the U.S. House of Representatives, Ryan, 42, is no compromiser. Now the Republicans’ vice presidential candidate, he was on the Bowles-Simpson commission and voted against the final plan.

Aung San Suu Kyi CHAIRPERSON National League for Democracy Suu Kyi, 67, now in Myanmar’s legislature instead of under house arrest, says she’s wary of a rush by businesses to enter the country. Nonetheless, her freedom is a symbol of the change that has investors weighing Myanmar as a frontier market.

Adair Turner CHAIRMAN U.K. Financial Services Authority Turner, 56, together with Bank of England Governor Mervyn King, helped push Robert Diamond out of Barclays after the Libor scandal broke. Turner is a potential candidate to replace King in June 2013.

Janet Yellen VICE CHAIRMAN U.S. Federal Reserve Yellen, 66, has led Ben S. Bernanke’s drive to make the central bank more transparent. Her success at pulling inflation hawks and doves together might make her a candidate to succeed her boss.

Zhou Xiaochuan GOVERNOR People’s Bank of China As investors worldwide contemplated China’s slowing growth, Zhou, 64, cut interest rates in June for the first time in three years. He’s been atop the central bank for almost 10 years, since shortly after Wen Jiabao and Hu Jintao rose to power.

THINKERS

Maury Harris CHIEF ECONOMIST UBS Securities LLC The team led by Harris, 65, had the most-accurate predictions of U.S. growth in Bloomberg Markets’ January ranking of economic forecasters. Harris sees the U.S. expanding 2.1 percent this year and says politicians will somehow avoid their fiscal cliff.

Glenn Hubbard DEAN Columbia Business School Hubbard, 54, a Mitt Romney adviser, says short-term stimulus won’t do much for the economy, while tax reform that cuts marginal rates will. Hubbard was chairman of the Council of Economic Advisers when the Bush tax cuts were born.

Daniel Kahneman PROFESSOR EMERITUS Princeton University The Israeli-born psychologist, a Nobel laureate for his work in behavioral economics, won new fans in the past year with his book about biases in human thinking. Kahneman, 78, has lucid explanations of the mistakes that bankers and investors make.

Paul Krugman PROFESSOR Princeton University The Nobel laureate is pounding the table to argue that governments should be supporting the global economy. Krugman, 59, bemoans the austerity he sees everywhere, not just in the euro zone but also as U.S. state and local governments shrink.

Carmen Reinhart PROFESSOR Harvard University Her research connects the dots between debt, financial crises and very slow recoveries. Reinhart, 56, in a paper published with co-authors in April, warns that debt above 90 percent of a country’s GDP can restrain growth for more than 20 years.

Alan Simpson FORMER SENATOR U.S. Congress The debt-reduction blueprint created by the commission Simpson co-chaired, known as Bowles-Simpson, has a following among businesspeople, bankers and former lawmakers, if not incumbent politicians. Simpson, 81, keeps lobbying for it.

Hans-Werner Sinn PRESIDENT Ifo Institute The most popular economist in Germany, Sinn, 64, has the power to stop Angela Merkel from taking measures that might alleviate the euro crisis.

Joseph Stiglitz PROFESSOR Columbia University Stiglitz, 69, sharpened his critique of the growing income inequality gap in the U.S. in a best-selling book in June. The Nobel laureate’s views permeate the left side of the debate over the economy and taxes in the presidential race.

John Taylor PROFESSOR Stanford University He’s known in monetary policy circles for the Taylor rule, a formula to prescribe moves in interest rates based on changes in inflation and output. Paul Ryan calls Taylor, 65, “the leading voice” on Fed matters.

Nicolas Veron SENIOR FELLOW Bruegel Veron, 40, was an early advocate of a banking union as a way to tamp down the euro-zone debt crisis. He splits his time between his Brussels think tank and the Peterson Institute for International Economics in Washington.

BANKERS

Lloyd Blankfein CEO Goldman Sachs Group Inc. (GS) Amid cost cuts and job reductions, Goldman’s shares were up 18 percent year to date through yesterday, while Morgan Stanley (MS) shares had gained just 2.5 percent. Blankfein, 57, has won back some influence in part by simply keeping the firm out of the headlines.

Emilio Botin CHAIRMAN Banco Santander SA Although running a Spanish lender might seem a tenuous position, Botin, 77, has seen his efforts to expand and diversify pay off. Santander, which gets a majority of its profit outside Spain, has a market valuation more than double that of Deutsche Bank.

Jamie Dimon CEO JPMorgan Chase & Co. The trade that sank the London Whale cost the bank more than $5.8 billion and undermined its CEO’s message on excessive regulation. Still, Dimon, 56, showed he can be contrite, and the company still made $10 billion in the first half of this year.

Isabelle Ealet CO-HEAD OF SECURITIES Goldman Sachs Group Inc. Ealet, 49, was promoted this year when two of four people running sales and trading left. A native of France, she and co- heads Pablo Salame and Harvey Schwartz oversee businesses that generated 60 percent of Goldman’s revenue in 2011.

Andre Esteves CEO Grupo BTG Pactual The Brazilian investment banker is building BTG Pactual into a Latin powerhouse. Esteves, 44, has set his sights on what he calls the wounded U.S. and European Mastodons of global banking.

Anshu Jain CO-CEO Deutsche Bank AG (DBK) Jain, 49, became co-CEO on June 1 and is scheduled to lay out his strategy in more detail this fall. For now, he is cutting about 1,900 jobs by year-end -- 1,500 of them in the investment bank, which he used to run. He’s also reducing compensation.

Jiang Jianqing CHAIRMAN Industrial & Commercial Bank of China (601398) Ltd. The head of China’s largest bank, Jiang, 59, has been looking overseas. He has made acquisitions from Asia to South Africa to America, where the company is buying 80 percent of the U.S. unit of Bank of East Asia.

Gerald McCaughey CEO Canadian Imperial Bank of Commerce Canada’s banks have dominated Bloomberg Markets’ ranking of the world’s strongest banks, and CIBC, with its cash hoard, scored best among its compatriots this year. McCaughey, 56, is pushing to make his company even less risky.

Ruth Porat CFO Morgan Stanley With the market treating the firm’s debt as riskier than that of rivals, Porat, 54, has been leading an effort to revamp Morgan Stanley’s funding. She’s taken steps to get more deposits, eliminate commercial paper and improve liquidity.

John Stumpf CEO Wells Fargo & Co. Stumpf, 58, has moved into investment banking and set a goal of doubling investment management. Not the best-known name in global finance, Wells Fargo has nonetheless become the biggest U.S. bank by market capitalization.

(Click here for a slide show of Bloomberg Markets magazine’s 50 Most Influential.)

To contact the reporter on this story: Robert S. Dieterich in New York atrdieterich@bloomberg.net

http://www.bloomberg.com/news/2012-09-04/most-influential-50-in-2012-shows-turmoil-bloomberg-markets.html