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Wednesday, January 14, 2015

Matthew J. Belvedere and Peter Schacknow Report

Matthew Belvedere and Peter Schacknow
CNBC | Your Wealth



January 14, 2015
Earnings season is kicking into high gear with major banks releasing results. JPMorgan (JPM) today reported earnings that were hit by legal costsWells Fargo (WFC) is also out with profits this morning. (CNBC)
Volatility is back on Wall Street these days, highlighted by Tuesday'sdramatic reversal which saw the Dow up 282 points and down 143 points before closing modestly lower. (CNBC)

Copper prices-often seen as a bellwether for global economic health-extended their plunge today, trading at their lowest levels in more than 5 years. (Reuters)

DoubleLine Capital's Jeffrey Gundlach said there's a possibility of a "true collapse" in U.S. capital expenditures and hiring if the price of oilstays at its current level. (Reuters)

The euro fell below its 1999 launch rate against the dollar for the first time in over nine years, after an adviser to Europe's highest court said an ECB bond-buying program was legal under certain conditions. (Reuters)

The World Bank today lowered its global growth forecast for 2015 and 2016 due to disappointing economic prospects in the euro zone, Japan, and other emerging economies, offsetting the benefit of lower oil prices. (Reuters)

Tesla Motors (TSLA) plans to boost production of electric cars into the millions by 2025. Speaking at an industry conference in Detroit, CEO Elon Musk said Tesla may not be profitable until 2020. (Reuters)

Ericsson is suing Apple (AAPL) over mobile technology licenses, in response to the iPhone maker's suit against the Swedish telecom equipment supplier earlier this month. (Reuters)

Apple was granted a patent that allows it to create a mountable camera system like the one popularized by GoPro (GPRO) whose shares fell sharply on the news.

Bill Ackman, the activist investor famous for his high-profile battle withHerbalife (HLF), told CNBC his short on the stock was "the most philanthropic" he ever made.

A top leader of Yemen's al-Qaeda branch has claimed responsibility for last week's deadly attack on satirical Paris newspaper Charlie Hebdo, whose defiant new issue, with a cartoon of the Prophet Muhammad on the cover, sold out. (AP & CNBC)

President Barack Obama plans to use executive authority to issue the first federal regulations to target emissions of methane during oil and natural gas production. (NY Times)

President Obama wants to make it easier for local communities to build their own high-speed Internet networks because services are too expensive and there isn't enough competition in many areas. (Re/code)

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