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    Top 4 Business Stories of the Day


    by Wochit

    Japan's biggest banks must do more to involve smaller peers when seeking partners to finance overseas projects, to support a regional banking sector facing an uncertain future without a wider pool of borrowers, Japan's new banking head said. Many of Japan's more than 100 local banks have long been stuffed with deposits but starved of loan customers caused by two decades of economic stagnation - a state the government, in office since December 2012, has promised to end. Fearing loan profit being squeezed to an unsustainable degree, the banking regulator has urged small banks to merge or broaden their lending scope through, for instance, participating in overseas project finance with the help of majors such as Mitsubishi UFJ Financial Group.
    Federal Reserve Chair Janet Yellen said on Monday that the U.S. central bank's "extraordinary" commitment to boosting the economy, especially the still-struggling labor market, will be needed for some time to come. Yellen, in her first public speech since becoming Fed chair two months ago, strongly defended the Fed's policies of low interest rates and continued bond-buying, saying there remains "considerable" slack in the economy and job market. At the 2014 National Interagency Community Reinvestment Conference, Yellen said, "I think this extraordinary commitment is still needed and will be for some time, and I believe that view is widely shared by my fellow policy-makers at the Fed."
    At a time when boomers are looking to unload their companies, people in the deal world want to invest in proven acquirers. Have you ever had a woman ignore your texts or phone calls, and the more she disses you the more you try to make contact? Then when you go out with someone else, suddenly you start hearing from her? A
    business acquisition is no different. Once you’ve closed your first deal, and you let the world know you’re ready to do another one, accountants, lawyers, M&A guys and lenders will suddenly start to reach out. Accountants don’t make their money off year-end financial statements, they make it off transaction fees when deals close. In a day and age when there are more business sellers than there are buyers, thanks to all the boomers looking to unload their companies and retire, people in the deal world want to invest in you.
    BlackBerry’s fourth-quarter earnings were better than expected, losing $0.08 per share, compared to the $0.67 loss most analysts were expecting. The company continues to make cost improvements as it tries to turn the company around, something Wall Street has asked for time and time again from the Waterloo, Ontario-based company. However, it’s not good enough, apparently. Credit Suisse analyst Kulbinder Garcha downgraded shares of BlackBerry to underperform, following the results, noting that the continued weakness in cash burn and concerns about service revenues don’t exactly imply hope is around the corner.