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What Exactly Did Obama Say To Wall Street’s CEOs Last Thursday at 11am ET? S&P 500, Gold and Crude Oil All Peaked at 11am

What Exactly Did Obama Say To Wall Street’s CEOs Last Thursday?

Tyler Durden on 04/18/2013 22:06 -0400

Correlation is not causation; but coincidence means you’re on the right path. Looking at the charts of Stocks, Commodities, and Precious Metals, we wonder just what it was that President Obama said at his 11am ET White House meeting last Thursday… Equity markets soared out of the gate on the 11th. Jobless claims beat expectations handily (shaking off the previous week’s concerns) and all was well in the world… until just after 11am ET (when the CEOs of Wall Street’s big banks – for no apparent reason – met with President Obama)… and this happened… Gold also peaked at just after 11am ET… as did Crude oil… So what did Obama tell them?

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Cola Wars, China Style

04.19.2013 14:47

Cola Wars, China Style

The government and a private company are battling in the market – and in court – over the country’s favorite soft drink

By staff reporter Qu Yunxu

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(Guangzhou) — Eighteen years ago, a Hong Kong businessman named Chan Hung-to took a sip of an herbal tea produced by a government factory in Guangzhou and tasted the future – a beverage that he imagined could be the Coca-Cola of China. The sweet, cold drink called Wanglaoji herbal tea is an acquired taste, a blend of seven medicinal herbs and flowers, including honeysuckle, mint and chrysanthemum. Chan succeeded in making it China’s favorite drink. After licensing the tea’s name and recipe, he took it out of its dowdy green package, put it in an iconic red can with a bold golden logo and spent millions of yuan on massive marketing campaigns. By 2009, it was outselling even Coke in the country. Now, Chan and his erstwhile government partners are locked in a series of bitter trademark battles. While the court hearing for the latest lawsuit is waiting to be held, the real story of Wanglaoji may be that winning in the marketplace is more important than winning in court. But whether Chan can maintain market share if he loses the rights to use the bright red can design is a question worth billions of yuan. Feng Zhimin, a senior executive at Chan’s firm, says they are almost ready to throw in the towel on legal action. “If we lose this case again, there is no justice. We will give up,” he says. Read more of this post

Two-thirds of all $100 bills live outside America

Most $100 Bills Live Outside The U.S.

by JACOB GOLDSTEIN, April 17, 201312:00 PM

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The world loves the U.S. dollar.

When, say, a South African businessman buys supplies from China, he pays in U.S. dollars. When central banks hold foreign reserves, they favor dollars. And, all over the world, when things start to get crazy, people start putting $100 bills under the mattress. In fact, as of 2011, roughly two-thirds of all $100 bills were held outside the U.S., according to anestimate by Ruth Judson, an economist at the Fed.

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pm-gr-dollardollarbill-616 Read more of this post

Snoozebox (ZZZ), portable hotels made of stackable containers that have housed fans at events, has gained 55 percent since its IPO last May, outperforming European hoteliers such as Accor and InterContinental

Snoozebox Portable Hotels Conceived in Misery of Rain at Le Mans

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When Ignis Asset fund manager David Clark first heard of Snoozebox (ZZZ), portable hotels made of stackable containers that have housed fans at events such as the Le Mans 24-hour car race, he wanted to kick himself. Instead, he made sure Ignis was the biggest investor. “When I first came across it I had ‘duh’ moment,” Clark said in a phone interview. “It doesn’t take a genius to figure out the numbers of places that hold events but don’t have the accommodations for people to stay in.” Ignis now holds 14 percent of Snoozebox Holdings Plc’s shares.

Snoozebox, which transports rooms equipped with flat-screen TVs, Wi-Fi and running hot water to sporting and music events across the U.K. and beyond, may almost triple its revenue this year, said Simon French, an analyst at Panmure Gordon & Co., who recommends buying the stock. The London-based company may report 5.4 million pounds ($8.3 million) in sales for 2012 when it releases earnings April 23, he said.

The stock has gained 55 percent since its initial public offering last May, outperforming European hoteliers such as Accor SA (AC) and InterContinental Hotels Group Plc. (IHG) The MSCI Europe Hotels, Restaurants and Leisure Index has advanced about 14 percent. The shares rose 8.3 yesterday after Snoozebox said it won a contract to supply accommodation for 1,350 personnel at the G8 summit in Northern Ireland in June. Chief Executive Officer Robert Breare said the trick is to transport — by air, land or sea — 40 to 400 prebooked rooms that are placed steps from the action. Read more of this post

Australia: Crackdown on shadow banking after a spate of failures among finance companies that accepted debentures, including the $660 million collapse of Banksia last year

Crackdown on shadow banking

April 19, 2013 – 2:23PM, Clancy Yeates

The financial regulator is proposing tougher rules on non-bank finance companies that accept retail deposits after a string of collapses in the “shadow banking” sector. In new proposals published today, the Australian Prudential Regulation Authority said it would restrict companies that operate outside the Banking Act from using terms such as “deposit” and “at call” accounts. Currently there are no restrictions on use these phrases by finance companies, which are regulated much more lightly than banks. Under the proposed changes, APRA said it would remove an exemption that allows finance companies to use these terms, to avoid confusion among retail investors. It also said it would require debenture products to have a minimum maturity of 31 days. The crackdown comes after a spate of failures among finance companies that accepted debentures, including the $660 million collapse of Banksia last year.

Yoshinoya Japan slashes beef bowl prices

Yoshinoya slashes beef bowl prices

KYODO, APR 19, 2013

Yoshinoya Holdings Co. on Thursday cut prices for its mainstay “gyudon” beef-on-rice bowls to take advantage of eased restrictions on beef imports from the United States. The relaxation of strict import curbs in February is allowing the stable procurement of cheaper beef suitable for gyudon, the company said. Yoshinoya slashed beef bowl prices by ¥100 to match its two biggest rivals — Zensho Holdings Co.’s Sukiya chain and Matsuya Foods Co. — which are currently charging ¥280 for a standard bowl. The price of a large bowl dropped by ¥40 to ¥440, while the extra large bowl fell by ¥90 to ¥540. The price cuts are expected to produce about 30 percent more customers and a 15 to 20 percent boost in sales, the firm said. Prices for other ingredients, however, are starting to rise, thanks to Prime Minister Shinzo Abe’s “Abenomics” policies. Players in the fast-food industry say that lower gyudon prices are the key to winning market share.

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WHO: More than 50% of infected patients with H7N9 bird flu had no contact with poultry, further raising questions about human transmission

WHO data on bird flu raises new questions about human transmission

3:49am EDT

By Megha Rajagopalan

BEIJING (Reuters) – More than 50 percent of patients infected with a new type of bird flu in China had no contact with poultry, the World Health Organization said on Friday, further raising questions about whether the virus was transmitted between humans.

The H7N9 virus has so far infected 87 people in China and killed 17, but it remains unclear how they contracted the disease. A Chinese official earlier this week said about 40 percent of patients had been in no contact with poultry. Read more of this post

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