Short-seller Jim Chanos said Tuesday it is time for typical equity investors to be "a little more cautious" even as the stock market may continue to rise. Chanos, speaking the Reuters Global Investment Outlook Summit in New York said his fund Kynikos Associates is "very bearish on coal" and he is "pretty much short" all the U.S. leveraged coal companies. Chanos also said he was bearish on national oil companies and the integrated majors like Exxon-Mobil, which he said are experiencing a "dropping return on capital" that "is really ominous." The famous short-seller said Exxon-Mobil and other oil companies like it increasingly look like "value trap." He also said investors would be "well warned" to analyze Caterpillar Inc's financial unit.
Luleaa (Sweden) (AFP) - Few people have heard about the town of Luleaa, but if they are Facebook users, chances are their pictures, status updates and "likes" have passed through this Swedish port near the Arctic Circle. "The already positive business climate was a big reason when we decided to get established in Luleaa," said Joel Kjellgren, the data centre's 32-year-old manager, as he paced the facility, a concrete building the size of five soccer fields. But Luleaa's own record of no major power cut since the late 1970s pleased Facebook, as did its secure access to green energy in the form of hydropower. This means Facebook can cool down the vast server halls with chill air from just outside, driving the energy cost down and the sustainability factor up.