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Here’s What A Physical Map Of The Internet Would Look Like

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The interbank repo effect and gold; the gold sell-off could be related to a squeeze on collateral which forced firms to find funding substitutions at short notice including gold-based

The interbank repo effect and gold

Izabella Kaminska | Apr 18 15:05 | Comment Share

Here’s an interesting thought. Could the gold sell-off be related to a squeeze on collateral brought on by a series of very different bank crises in Europe, starting with the SNS Reaal nationalisation and Anglo Irish emergency assistance operation and culminating with the Cyprus crisis? It’s a theory being considered by Jeffrey Snider, chief investment strategist, at Alhambra Investment Partners. The basic point being, when you haven’t got anything to repo and funding becomes tight, gold is likely to sell-off in anticipation of further banking and asset problems. This time the effect may also have been magnified because of the changing nature of the bailout game.

Screen-Shot-2013-04-18-at-15.04.12 Read more of this post

BitCoin Exchange BitFloor Shuts Down

BitCoin Exchange BitFloor Shuts Down

Tyler Durden on 04/18/2013 08:55 -0400
In an amusing development, one of the key alternative BitCoin exchanges, BitFloor, has just announced it is forced to shut down immediately. It is amusing, because one of the primary reasons attributed by the BTC pundits for the recent crash from $260 to $50 was errors and faults in the primary bitcoin exchange MtGox. Well, with alternative exchanges forced to shut down, this may mean the only “faulty” marketplace will sees it monopoly power increase further. It is also ironic because as BitFloor disclosed it “can no longer provide the same level of USD deposits and withdrawals as we have in the past.” Whatever happened to decentralized, and unencumbered by legacy fiat currencies?

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Conglomerate Murugappa is sometimes dubbed southern India’s Tata Group,CampdenFB talks to its fourth-gen chairman about his plans for the family business

VALUE CREATION

ARTICLE | 18 APRIL, 2013 02:07 PM | BY RASHMI KUMAR

Conglomerate Murugappa is sometimes dubbed southern India’s Tata Group,CampdenFB talks to its fourth-gen chairman about his plans for the family business.

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Walking along Parry’s Corner (pictured, right) in the southern Indian city of Chennai can be an arduous task with its milling crowds, the many street shops selling everything from fake watches to clothes, and the constant whirr of traffic. The wholesale trading district doesn’t come across as the ideal setting for the headquarters of a multi-billion-euro conglomerate, but that is where family-controlled Murugappa Group is based. Read more of this post

Xiaomi Founder Lei Jun on the Pressures and Perils of Doing a Startup; Perhaps everyone underestimates the psychological pressure. 雷军自述:小米神话背后一些不神话的东西

Xiaomi Founder Lei Jun on the Pressures and Perils of Doing a Startup

April 18, 2013 by C. Custer

China’s Xiaomi is now widely recognized as one of the country’s best startups; it’s what happens when you take a good idea combined with experienced team and adequate funding and then insert all that into the perfect market environment. The company took in nearly $1 billion in sales revenue in the first half of 2012, and things are still going well today. But as Xiaomi founder Lei Jun writes in a recent column on his Xiaomi adventure, even for an experienced founder and investor, things don’t always look that rosy when you’re just starting out:

Actually, the decision to do Xiaomi was definitely not an easy one, there were a lot of things I was worried about. For example, I was going to do mobile phones and I had never worked in mobile before. Who would believe I was capable of making a mobile phone? Who would be willing to work with me on a mobile phone? What investors would be willing to give money to me to make a mobile phone? These are the questions I was anxious about. Perhaps everyone underestimates the psychological pressure.

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The battle for the Swiss soul; “If you can’t trust a Swiss banker, what’s the world come to?” asked James Bond in the 1999 film “The World is Not Enough”.

Special Report: The battle for the Swiss soul

2:16am EDT By Emma Thomasson

ST. GALLEN, Switzerland (Reuters) – “If you can’t trust a Swiss banker, what’s the world come to?” asked James Bond in the 1999 film “The World is Not Enough”.

It has come to this: Swiss banks, under pressure from countries such as the United States, France and Germany, have been giving up their secrets, in some cases handing foreign tax authorities the names of their account holders. To avoid being blacklisted by the Organization for Economic Cooperation and Development, the Swiss government has agreed to share more information with foreign authorities hunting tax cheats.

The foreign assault has opened up a huge rift inside the fiercely independent Alpine nation.

Some bankers, as well as many academics and centrist and left-leaning politicians, think the country should bow to the inevitable and abandon strict secrecy. The pragmatists include big banks like UBS AG and Credit Suisse Group AG, which argue that to survive they have no choice but to surrender more information about their customers and close the accounts of those who won’t come clean. Read more of this post

Apple Slowdown Threatens $30 Billion Global Supplier Web

Apple Slowdown Threatens $30 Billion Global Supplier Web: Tech

Apple Inc. (AAPL)’s slowing sales are rippling through a supplier network that has long benefited from the company’s ability to churn out iPhones and iPads.

Cirrus Logic Inc. (CRUS), a maker of audio chips that gets 91 percent of its sales from Apple, this week reported an inventory glut that suggested slowing iPhone sales, and forecast fiscal first-quarter revenue below analysts’ estimates. Hon Hai Precision Industry Co. (2317), Apple’s top supplier, this month posted its biggest revenue decline in at least 13 years, indicating slower sales of smartphones, tablets and computers.

Apple’s breakneck growth to $156.5 billion in revenue last year, from $24.6 billion in 2007 when the iPhone debuted, supports an ecosystem of at least 247 suppliers across the globe. They relied on Apple to deliver $30.1 billion in orders in the latest reported quarter, according to supply-chain data compiled by Bloomberg. As a result, many are now vulnerable after building up inventory in anticipation of continued growth, according to Michael Hasler, a lecturer at the University of Texas in Austin.

“This is the downside of that really positive story of being an Apple supplier,” said Hasler, a former supply-chain executive at Applied Materials Inc. “Your fortune is directly linked to Apple. Until recently, that hasn’t been a bad thing.” Read more of this post

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