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The Innovators: The Men Who Built America

http://en.wikipedia.org/wiki/The_Men_Who_Built_America

The Men Who Built America (also known as The Innovators: The Men Who Built America in some international markets) is a History eight-hour, four-part miniseries docudramabroadcast in Fall (autumn) 2012, and on the History Channel UK in Spring 2013. The series focuses on Cornelius VanderbiltJohn D. RockefellerAndrew CarnegieJ. P. Morgan and Henry Ford and how their industrial innovations and business empires revolutionized and, as alluded to in the title, “built” America. The series is directed by Patrick Reams and Ruán Magan and is narrated by Campbell Scott. It averaged 2.6 million total viewers, 1.2 million Adults 25-54 and 1 million Adults 18-49 across 4 nights.

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Najib Calls Malaysia Election With Five-Decade Rule on Line; The KLCI index has gained 82 percent during Najib’s three years as leader as of yesterday’s close, about three times less than benchmarks in Thailand, Indonesia and the Philippines.

Najib Calls Malaysia Election With Five-Decade Rule on Line

Malaysian Prime Minister Najib Razak dissolved parliament in preparation for elections that will determine whether his ruling coalition extends its unbroken hold on power since independence in 1957. Under Malaysian law the contest must be held within 60 days of the dissolution of the legislature. The Election Commission will meet in a few days to announce a date for the poll, spokesman Sabri Said said in a text message. “The ultimate power of choosing the government lies in the peoples’ hands,” Najib said in a televised address. “Over the past five decades we’ve achieved stability and prosperity in this country. I hope we’ll continue this tradition.”

The 13-party Barisan Nasional coalition, which won the 2008 national vote by its slimmest margin, faces a resurgent opposition alliance led by former deputy prime minister Anwar Ibrahim. The prospect of an even closer election result has helped make the FTSE Bursa Malaysia KLCI Index one of the worst performing Asian benchmarks this year. The gauge fell as much as 3.1 percent today, the most since October 2011. “We expect the Barisan Nasional coalition to have less seats in the aftermath of the 13th general election, but not enough to lose their majority,” said Anand Pathmakanthan, head of Malaysia research at CLSA Asia-Pacific Markets. “If you talk to most investors, their best case scenario is that Najib stays as well because they can’t see what comes after.” The KLCI index has gained 82 percent during Najib’s three years as leader as of yesterday’s close, about three times less than benchmarks in Thailand, Indonesia and the Philippines. Read more of this post

Dissemination, Direct-Access Information Technology and Information Asymmetry; firms that are not highly visible can disseminate firm-initiated news via Twitter to increase liquidity and market depth

Dissemination, Direct-Access Information Technology and Information Asymmetry

Elizabeth Blankespoor Stanford University – Graduate School of Business

Gregory S. Miller University of Michigan – Ross School of Business

Hal D. White University of Michigan – Ross School of Business

January 25, 2013

Abstract: 
Firm disclosures often reach only a portion of investors, which results in information asymmetry among investors, and therefore lower market liquidity. This issue is particularly salient for firms that are not highly visible, as they tend not to receive broad news dissemination via traditional intermediaries, such as the press. This paper examines whether firms can reduce information asymmetry by using a new information technology to increase the breadth of dissemination of firm disclosures. Using a sample of technology firms, we examine the impact of using Twitter to send market participants links to press releases that are provided via traditional disclosure methods. We find this additional dissemination of firm-initiated news via Twitter is associated with lower abnormal bid-ask spreads and greater abnormal depths, consistent with a reduction in information asymmetry. Moreover, this result holds mainly for firms that are not highly visible, consistent with them being in greater need of this additional dissemination channel. We also examine the impact of dissemination on a volume-based measure of liquidity, and find that dissemination is positively associated with liquidity.

Vanguard raises the possibility of free ETFs

April 2, 2013 1:08 pm

Vanguard raises the possibility of free ETFs

By Madison Marriage

Exchange traded fund providers have room to reduce charges to zero and could even pay clients to invest in their products, according to US firm Vanguard. Nick Blake, head of retail at Vanguard Investments, says revenues from securities lending alone are sufficient to make ETFs profitable. Mr Blake says: “I would like to think the cost of investing [in ETFs] could come down to zero. “There will always be a fixed cost in there, but if [a firm’s asset] volume is big [enough], the total expense ratio can come right down.” Vanguard, which has been building its footprint in Europe and now has ETFs registered in Ireland, the UK and Switzerland, currently charges investors an average management fee of 28 basis points.

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Value of China’s documentary market quadruples in 4 years to 1.5 billion yuan (US$242 million)

Value of China’s documentary market quadruples in 4 years

Xinhua 2013-04-03

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On location for a documentary about the Mogao Caves in Dunhuang, northwestern Gansu province. (Photo/CNS)

Sales for China’s documentary film industry soared from 400 million yuan (US$64 million) in 2009 to 1.5 billion yuan (US$242 million) last year, according to a recent report. Read more of this post

Chinese Local Governments Face Greater Financial Risks as Land Sales Drop; “A significant amount of local government debts are maturing this year, as debt due in the last two years are transferred to 2013 through re-financing. This year could be a peak of debt repayment. ”

Chinese Local Governments Face Greater Financial Risks as Land Sales Drop

04-02 15:36 Caijing

Declining land sales and squeezed house transactions under property regulations are adding increasing financial pressures to local governments as their debt repayment is coming to a peak in the following two years.

Chinese local governments could face an unprecedented financial challenge in 2013 as the country’s land-selling activities have showed signs of cooling down and a large amount of debts are maturing this year, according to a study by eHouse, a leading real estate services provider in China. China collected 2.69trillion yuan from selling land in 2012, a remarkable 15% drop from a year earlier, contributing to 31% of local government’s total revenue, 7 percentages lower compared with the previous year, but still at historical high, the report said. Read more of this post

Record numbers of British workers are being employed on “zero hours” contracts which keep staff on standby and deny them regular hours, official figures disclose

Number of Britons on ‘zero hours’ contracts hits record high

Record numbers of British workers are being employed on “zero hours” contracts which keep staff on standby and deny them regular hours, official figures disclose.

The number of workers employed on a zero hours contract almost doubled between the quarter to June and the three months to December last year.  Photo: AFP

By Hayley Dixon

11:23PM BST 02 Apr 2013

The number of workers in jobs without any guarantee of regular hours or pay nearly doubled during last year to reach 200,000, according to data from the Office for National Statistics. The contracts – now used by almost a quarter of Britain’s major employers – legally allow firms to employ staff, often in low paid jobs, without any guarantee of actual work, or income. Read more of this post

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