It is Independence Day in India, a holiday during which the national flag is raised on everything from the ramparts of Delhi’s monuments to the bonnets of Mumbai’s battered black cabs

The Indian rupee

Dependence day

Aug 15th 2013, 8:23 by P.F. | MUMBAI


IT IS Independence Day in India, a holiday during which the national flag is raised on everything from the ramparts of Delhi’s monuments to the bonnets of Mumbai’s battered black cabs. This year it may be remembered for India’s enslavement to global capital markets. Yesterday evening, August 14th, after most people had left work, the central bank imposed new capital controls to try to stem a balance-of-payments crisis. Psychologically the manoeuvre feels like a step back in time, to India’s pre-reform era of the 1980s, when Indians were fenced off from the rest of the world by their government, entrepreneurs had to beg pompous officials for foreign exchange and the rich had to ask their servants to buy malt whiskey from the black market.

Read more of this post

E-ppointments: Will patients shop around online for a doctor as tourists do for a hotel on TripAdvisor?

Online healthcare


Aug 13th 2013, 22:11 by C.S.-W.

RIGHT after 8.30am is a busy time for the ill in Britain. Many medical surgeries do not allow patients to pre-book appointments with their doctors: people must call up in the morning to book an appointment later in the afternoon. Come opening time, the phone lines are jammed with hacking, spluttering sick people trying to beg an audience with their doctor. Being able to book appointments online and outside of office hours not only makes life easier for patients, but gives them more choice. Zesty, a start-up based in London, has signed up 200 dental practices across ten London boroughs since launching at the end of April. Further healthcare sectors, such as surgeries, physiotherapists and osteopaths, will be implemented into its online booking system later this month. Co-founder Lloyd Price is banking on medicine being the next sector to take advantage of e-commerce. He wagers an online interface to make appointments and to compare doctors and dentists against each other, similar to the hotel-booking and rating model perfected by TripAdvisor and Expedia, will replace the engaged-tone at surgeries up and down the land. Read more of this post

Crowded skies, frustrated passengers: Military control of airspace and a risk-averse culture threaten to cripple China’s rapid growth in aviation

Crowded skies, frustrated passengers: Military control of airspace and a risk-averse culture threaten to cripple China’s rapid growth in aviation

Aug 10th 2013 | BEIJING |From the print edition


ON AN average day, more than 1,500 planes take off and land at Beijing’s Capital International Airport, the second-busiest in the world (by passenger traffic) after Atlanta. Many of those take-offs and landings are late. According to FlightStats, a travel industry monitor, China’s big airports have the worst delays in the world, with only 18% of flights from Beijing departing on time in July (arrivals fared better). The strain is showing, especially on the faces of delayed passengers. Tales of airport rage are frequent media and online fodder; most popular are videos of officials or other bigwigs punctuating their impatience with invective and spittle. Planes pull away from gates on time without clearance to take off and remain on the tarmac for up to 30 minutes, just so the flight can say it is not delayed. Such tricks explain why official figures state that 75% of all arrivals and departures were on time in 2012. Independent estimates put the figure closer to 30%. Airline staff often give no reason for delays. Read more of this post

A new generation of synthetic drugs is presenting novel legal problems; “The bad guys know what we do and they just tweak another molecule. They’re changing faster than we can write our names.”

August 14, 2013, 7:52 p.m. ET

‘Bath Salts’ Pose a Hurdle for Prosecutors

Chemical Tweaks Can Keep Synthetic Drugs From Being Linked to Banned Substances


A new generation of synthetic drugs is presenting novel legal problems, according to law-enforcement agents and prosecutors, who say the shifting chemistry behind the products makes it difficult to win convictions. The synthetic drugs are typically sold in retail shops in small packages labeled “bath salts,” which investigators say is a ploy to hide their true purpose. When smoked, snorted or injected, they can cause a range of reactions, from increased energy and euphoria similar to cocaine or ecstasy, to hallucinations, similar to LSD. Users who have had bad reactions report feeling extreme paranoia, or the sensation that their skin is burning, leading them to tear off their clothes. Read more of this post

How LeapFrog’s CEO Built the Educational Toy Company; Mike Wood Left the Legal Profession to Focus on Plastic Toy Letters; Glitches Early On Delayed Production

Updated August 14, 2013, 8:59 p.m. ET

How LeapFrog’s CEO Built the Educational Toy Company

Mike Wood Left the Legal Profession to Focus on Plastic Toy Letters; Glitches Early On Delayed Production



Mike Wood, creator of educational toy company LeapFrog, at his office in San Rafael, Calif., on Tuesday.

Mike Wood had been practicing law for about 11 years when he encountered a challenge that would change his life: teaching his 3-year-old son to read. His son Mat had memorized the letters of the alphabet, but struggled to learn the sounds that the letters represented. Over the next five years, Mr. Wood researched marketing and phonics, a teaching method that focuses on the correlation between letter groupings and sounds, while holding down his partnership at a technology law firm. He decided to take sound chips—like the ones used in singing greeting cards—and put them in plastic toy letters. When a child pushed down on a letter, it would make the sound that the letter represented. Mr. Wood designed a prototype, left his job and set up focus groups with mothers. He then found a buyer at Toys “R” Us Inc. and a manufacturer in China. In 1995, he started LeapFrog Enterprises Inc., LF +0.57% an educational toy company. By 2002, LeapFrog had $520 million in annual revenue, and its best-selling product, a hand-held learning device called LeapPad, was in nine million homes. The Emeryville, Calif., company’s stock soared almost 99% after it went public that July, making it the top-performing IPO of the year. Read more of this post

The Entire History Of The World In One Chart

The Entire History Of The World In One Chart

SLATE AUG. 14, 2013, 1:37 PM 10,499 9

The Vault is Slate’s history blog. Like us on Facebook, follow us on Twitter @slatevault, and find us on Tumblr. Find out more about what this space is all about here.

This “Histomap,” created by John B. Sparks, was first printed by Rand McNally in 1931. The David Rumsey Map Collection hosts a fully zoomable version here. This giant, ambitious chart fit neatly with a trend in nonfiction book publishing of the 1920s and 1930s: the “outline,” in which large subjects (the history of the world! every school of philosophy! all of modern physics!) were distilled into a form comprehensible to the most uneducated layman. The 5-foot-long Histomap was sold for $1 and folded into a green cover, which featured endorsements from historians and reviewers. The chart was advertised as “clear, vivid, and shorn of elaboration,” while at the same time capable of “holding you enthralled” by presenting: the actual picture of the march of civilization, from the mud huts of the ancients thru the monarchistic glamour of the middle ages to the living panorama of life in present day America. The chart emphasizes domination, using color to show how the power of various “peoples” (a quasi-racial understanding of the nature of human groups, quite popular at the time) evolved throughout history. It’s unclear what the width of the colored streams is meant to indicate. In other words, if the Y axis of the chart clearly represents time, what does the X axis represent? Did Sparks see history as a zero-sum game, in which peoples and nations would vie for shares of finite resources? Given the timing of his enterprise—he made this chart between two world wars and at the beginning of a major depression—this might well have been his thinking. Sparks followed up on the success of this Histomap by publishing at least two more: the Histomap of religion (which I’ve been unable to find online) and the Histomap of evolution.


Buffett’s Berkshire Discloses Suncor, Dish Stakes

Buffett’s Berkshire Discloses Suncor, Dish Stakes

Berkshire Hathaway Inc. (BRK/A) reported a stake in Suncor Energy Inc. (SU) and added to a holding in General Motors Co. as billionaire Chairman Warren Buffett and his deputies spent the most on stocks in a quarter since 2011. Buffett’s firm owned 17.8 million Suncor shares on June 30, a stake valued at more than $500 million in the Calgary-based heavy-oil producer, Berkshire said today in a regulatory filing. The company also added to its holdings in U.S. Bancorp and Wells Fargo & Co. (WFC) The filing omitted some data that was reported confidentially to regulators. Read more of this post

Harnessing the Power of Surprise for Business Breakthroughs

Harnessing the Power of Surprise for Business Breakthroughs

Aug 14, 2013

we’re wired to appreciate positive surprises. our brains are set up to appreciate the way they challenge assumptions while adding value to things we care about

Think about the first time you picked up an iPod, iPhone or iPad and experienced the touch screen as an extension of your fingertips. Reflect back on the first time you played the Nintendo Wii, drove a Toyota Prius, used Purell hand sanitizer, discovered the trendy design of Method soap, visited Starbucks, or saw Cirque du Soleil. The list of the usual suspects of breakthroughs could go on and on. Though these things are all quite different from one another, they tend to produce similar feelings of positive surprise—with a hint of delight, wonder, and intrigue—when we first encounter them. Read more of this post

The New CTO: Chief Transformation Officer

The New CTO: Chief Transformation Officer

by Daniel Burrus  |  11:00 AM August 14, 2013

We all know that if you put a frog in water and slowly heat it to the boiling point, the frog will stay put and die. But if you throw the frog into already boiling water, it will quickly jump out. Today’s IT leaders have known about the exponential growth of processing power, storage, and bandwidth, but like the frog, they didn’t notice the boiling point approaching because the change has happened over so many decades. These three change accelerators are what lie behind today’s avalanche of business transformation, and they are directly affecting the roles of CIO and CTO.  Read more of this post

A Formula for Fixing the Hardest Problems

A Formula for Fixing the Hardest Problems

by Frank Weil  |  10:00 AM August 14, 2013

For many years I have been asking friends and colleagues, “What frustrates you the most in modern society?” I’ve received many, varied answers but at their core, so often, was a common root — another question: “How can citizens and government accomplish what modern life requires of them to improve the world in which they coexist?” As the three basic sectors of U.S. society — government, business, and nonprofit,each of which have their own culture, language, and mentality — attempt to solve our most-pressing challenges, we seem to be sinking into a bottomless black hole. Even simple problems elude solutions, and the ones that do exist — regulation in government, competition in business, and the work of nonprofits to fill gaps — frequently fall short. How can we find some way out of this mess? Read more of this post

Fearing Obsolescence, a Company Charts Its Reinvention; When a Web marketing and communications company discovered its hardware system was out-of-date, it set out on the giant — and ultimately successful — task of remaking the company

August 14, 2013

Fearing Obsolescence, a Company Charts Its Reinvention



It may be the most terrifying moment a business owner can face: the realization that what you have been doing successfully, possibly for years, no longer works. For Clint Smith, co-founder and chief executive of Emma, a Web-based marketing and communications company, that moment came three years ago when his team attended the annual South by Southwest Music and Media conference in Austin, Tex. Started in 2002 and based in Nashville, Emma had grown quickly. By 2010, it had 90 full-time employees and 30,000 clients. It had recently passed $10 million in sales, but an awareness had begun to set in that its hardware system — built before the cloud even existed — was showing signs of strain. Capacity was running low and programmers had to navigate several layers of the system to update existing features or introduce new ones. These concerns crystallized at the conference when the Emma executives listened to Google employees discuss their plans for Gmail. Read more of this post

Troubled Teens Make More Successful Entrepreneurs

August 14, 2013, 2:19 PM

Troubled Teens Make More Successful Entrepreneurs

By Khadeeja Safdar

Smart, rule-abiding teenagers are less likely to become successful entrepreneurs than equally intelligent teens who engage in illicit activities, according to new research. In a working paper published by theNational Bureau of Economic Research, economists Ross Levineand Yona Rubinstein examine what it takes to become an entrepreneur and whether entrepreneurship pays off in terms of wages. Using data from the March Supplements of the U.S. Census Bureau‘s Current Population Survey and the National Longitudinal Survey of Youth, they look at the cognitive, noncognitive and family traits of self-employed individuals who have incorporated businesses and compare it to the characteristics of salaried workers and the self-employed who don’t have incorporated businesses. Read more of this post

How One Employee And One Consulting Firm May Be Singlehandedly Responsible For The Stunning Pay Gap Between CEOs And Workers

How One Employee And One Consulting Firm May Be Singlehandedly Responsible For The Stunning Pay Gap Between CEOs And Workers

MAX NISEN AUG. 14, 2013, 4:35 PM 8,319 13

screen shot 2013-08-14 at 12.29.53 pm

McKinsey is the world’s largest and most profitable management consulting firm, as well one of the most difficult places to get hired. Over its 87-year existence it’s had a massive impact on the U.S. economy according to “The Firm,” a forthcoming book by Duff McDonald. In a New York Observer column, pointed out by Mike Dang at The Billfold, McDonald argues that the massive modern-day gap between executive and worker pay has its origin with the consulting firm. Read more of this post

Beautiful Pathologies: Medical-school students sometimes get carried away by their enthusiasm for the science of disease and forget the human suffering that comes with it

AUGUST 14, 2013, 8:39 PM

Beautiful Pathologies


At our medical school, we have something called the organ transplant observation program, which allows students to shadow the doctors who transfer functional organs from deceased or living donors into the bodies of dying patients. It’s pretty great. When it’s your turn, you might go to a nearby hospital and watch surgeons put in a heart, or hop on a private plane and fly to another state to get a kidney. The program is wildly popular and often a highlight of the medical school experience. This year, over half of my class signed up as soon as the forms went online.

Read more of this post

Study Shows BMW Drivers Are The Rudest On The Road

Study Shows BMW Drivers Are The Rudest On The Road


Rude drivers come in all shapes and sizes, and they drive a wide variety of cars. We’ve been cut off by soccer moms in minivans, sound-blasted by bass-powered hoopties, and nearly t-boned by more muscle cars than we can count.  But for some reason, the rudest drivers on the road often seem to be those in luxury cars. Maybe that’s just us projecting: we see a nice car, and we feel a tinge of jealousy, which creates an instant dislike for the driver. Or perhaps it’s something we’ve picked up from movies: we see a Mercedes-Benz AMG zooming down the road and think, “Here comes another hedge-fund manager.” Or perhaps it’s because the wealthy people who drive those cars really are jerks. For folks who buy that last argument, there’s now a bit of proof to back it up. According to the New York Times, a paper published in The Proceedings of the National Academy of Sciences suggests that the rich really do drive differently than the rest of us. The paper — entitled “Higher social class predicts increased unethical behavior” — was written by Paul K. Piffa, Daniel M. Stancato, Stéphane Côté, Rodolfo Mendoza-Denton, and Dacher Keltnera. The researchers carried out a total of seven separate studies, each of which looked at the linkage between affluence and altruism. Read more of this post

Dragonfly: Nature’s Drone, Pretty and Deadly; African lions roar and strut and act the apex carnivore, but they’re lucky to catch 25 percent of the prey they pursue

April 1, 2013

Nature’s Drone, Pretty and Deadly


African lions roar and strut and act the apex carnivore, but they’re lucky to catch 25 percent of the prey they pursue. Great white sharks have 300 slashing teeth and that ominous soundtrack, and still nearly half their hunts fail. Dragonflies, by contrast, look dainty, glittery and fun, like a bubble bath or costume jewelry, and they’re often grouped with butterflies and ladybugs on the very short list of Insects People Like. Yet they are also voracious aerial predators, and new research suggests they may well be the most brutally effective hunters in the animal kingdom. Read more of this post

Wudang can make you a Daoist master — of business administration

Wudang can make you a Daoist master — of business administration

Staff Reporter



A Daoist temple on Wudang Mountain holds an annual ceremony to celebrate its reconstruction after a fire in 1745. (File photo/Xinhua)

You Xuande, the leader of the Wudang Chinese martial arts school in central China’s Hubei province, says several business executives have expressed an interest in taking a Master of Business Administration course at the school. The school does not currently offer its own MBA course but its staff have lectured at several universities, reports the state-run China National Radio. Many parents from wealthy and influential families said that they would also be interested in sending their children to the school to learn about Daoism, even willing to pay a fortune to enroll their children there. Money is no issue to them, said You, adding that 80 students applied for a place this year, but the school was only able to accept 20 of them. Read more of this post

Rational about superstition; Even hardheaded businesspeople can have workplace rituals and lucky talismans

August 14, 2013 4:21 pm

Rational about superstition

By Rhymer Rigby


Ryan Paugh is a man with a lucky pebble. “My wife gave it to me. It’s from Santa Fe, New Mexico, which is a spiritual sort of place and it is meant to keep away bad spirits and attract good energy. So when I’m trying to raise money or launch a product I keep it in my pocket,” says the founder of YEC, the US invitation-only entrepreneurs’ organisation. Mr Paugh explains that while he does not exactly believe his pebble is imbued with magical powers, “it feels good. It’s an object that reminds you to be in a positive frame of mind and it reminds me that I work hard for my family.” Read more of this post

Why are we teaching like it’s 1992?

Why are we teaching like it’s 1992?

On April 22, 1993, the computer scientists who developed the Mosaic 1.0 browser decided that the Internet should be available to all of us.



On April 22, 1993, the computer scientists who developed the Mosaic 1.0 browser decided that the Internet should be available to all of us. Before that, it was mostly computer programmers, scientists, university professors and government officials who used the World Wide Web to communicate ideas. After 1993, the rest of humanity was given a new and remarkable power: Anyone with an Internet connection could publish a thought to anyone else anywhere in the world who also had access to an Internet connection. No professional publisher or editor was there to guide you before you hit “send” to ensure accuracy, logic or even common sense. Read more of this post

Brain Shaking Technique Offers Measure of Consciousness

Brain Shaking Technique Offers Measure of Consciousness

A new technique for measuring consciousness offers a reliable way to guide treatment of patients with brain injuries who can’t respond to commands, according to a study.

By using a device that shakes the entire brain with strong magnetic stimulation, researchers led by a team at University of Milan in Italy measured the amount of information flow occurring in the brain. They were able to discriminate between various levels of consciousness with a numerical index they developed. The study was published today in Science Translational Medicine. Read more of this post

America’s doctors, like Wall Street, need a cultural shift; An ‘eat what you treat’ system can tempt doctors to offer excessive treatments

August 14, 2013 6:39 pm

America’s doctors, like Wall Street, need a cultural shift

By Gillian Tett

An ‘eat what you treat’ system can tempt doctors to offer excessive treatments

How can America cut its healthcare costs? The question is generating political heat in Washington right now. No wonder. Healthcare spending now stands at an eye-popping 17 per cent of US gross domestic product. And next year, President Barack Obama’s divisive “Obamacare” reforms will take effect, extending insurance to a much wider part of the population than ever before. But as politicians trade ideas (and insults) about cutting costs – with proposals ranging from better use of information technology through to insurance exchanges – there is another issue that needs to be discussed: doctors’ pay. Read more of this post

Oceanus suspends trading over ‘abnormal deaths’ of abalones; Oceanus operates the Ah Yat Tian Xia chain of restaurants, with outlets in mainland China, Hong Kong, Taiwan and Singapore

Oceanus suspends trading over ‘abnormal deaths’ of abalones

Thursday, Aug 15, 2013

Jonathan Kwok

The Straits Times

CHINA – Abalone producer Oceanus Group has suspended trading of its shares after it received a report of unnatural deaths of its abalones in China. An announcement by the firm on Sunday evening also made reference to an executive director who was recently forced to step down from the board but remains as a key manager. The statement did not link the reports of abalone deaths with the executive director’s departure except to say they had happened at around the same time. Mr Wu Yong Shou had stood for re-election at the Oceanus annual general meeting on July 31. But the motion was defeated by a 95.51 per cent majority of the shareholders present and voting – so he had to step down as an executive director. Read more of this post

The fraudulent actions of Taiwanese family business Rebar Group has landed five next-gens with prison sentences, while their father remains on the run



The fraudulent actions of Taiwanese family business Rebar Group has landed five next-gens with prison sentences, while their father remains on the run. On Wednesday, Taiwan’s Supreme Court upheld the verdicts of a lower court, which handed out sentences between five and a half and 30 years to the children of Wang You-theng for violations of the Securities and Exchange Act. According to court findings, the Wang family members, who had held senior positions in various companies controlled by Rebar Group, defrauded investors and banks of billions of dollars by means of false accounting and other fraudulent actions over a number of years. The children include Gary Wang, Wang Lin I, Wang Lin-tai, Wang Lin-mei and Wang Lin-chiao. Wang You-theng, 86, who founded Rebar Group in 1959, fled Taiwan in late 2006, days before prosecutors began their investigation into the group. He is listed as one of Taiwan’s 10 most wanted economic criminals. Rebar Group began in the steel industry, but later expanded into textiles, hotels, real estate, insurance, banking and telecommunications.

Hong Kong’s Crisis of Governability

Updated August 14, 2013, 4:44 p.m. ET

Hong Kong’s Crisis of Governability

Lack of democracy turns a kerfuffle into an uproar.

Tensions are running high in Hong Kong as the government dithers over how to implement full democracy by 2017. A coalition of citizen activists promises a showdown in the streets of the business district next summer if the promise to elect the chief executive by universal suffrage is not kept. One sign of just how acrimonious the city’s crisis of legitimacy could become is the way a minor dispute over a teacher’s foul-mouthed tirade against a policeman has become a tug-of-war between pro-Beijing and pro-democracy forces. Read more of this post

Hong Kong Rents Hinder Billionaire Li’s Supermarket Sale

Hong Kong Rents Hinder Billionaire Li’s Supermarket Sale

Soaring Hong Kong rents helped make Li Ka-shing Asia’s richest man. They’re now becoming a hindrance as he looks to sell the city’s No. 2 grocery chain. His biggest company, Hutchison Whampoa Ltd. (13), is seeking $3 billion to $4 billion for its ParknShop supermarkets and has asked potential buyers to submit bids by Aug. 16, according to people with knowledge of the process. Hong Kong’s surging rents and a slowing grocery market could deter buyers from offering top price for the chain that sells everything from eggs to pork chops to whiskey. Shop leases have doubled over the past four years in the city, according to property agent Savills Plc. (SVS) And broker Cushman & Wakefield Inc. last year said Hong Kong’s Causeway Bay area had overtaken New York’s Fifth Avenue as the world’s most expensive district for retail rents. Read more of this post

Corporate China taps can-do spirit of innovation; “In China, the most common phrase in conversations is xiang ge ban fa (let’s find a way), not guanxi”

Corporate China taps can-do spirit of innovation

By Wang Yong | August 15, 2013, Thursday |  PRINT EDITION

FOR many decades until the end of June this year, I had bought into a popular stereotype of Corporate China as a haven of copycats and guanxiology. Indeed, even today, if you look at domestically designed cars and high-rises, they are more often than not copies of Western designs. If you look at business deals, a lot of them are done with guanxi (connections) and greasing of palms. But that’s far from the whole story. I learned about a different Corporate China, which is surprisingly innovative, at the weeklong Orchestrating Winning Performance (OWP) program I attended at IMD (International Institute for Management Development), Lausanne, Switzerland, at the end of June.

Xiang ge ban fa

“In China, the most common phrase in conversations is xiang ge ban fa (let’s find a way), not guanxi,” said Winter Nie, professor of operations and service management at IMD. “Everything is difficult, but nothing is impossible.” Read more of this post

Chinese Banks Feel Strains After Long Credit Binge; Rapid Loan Growth Has Led to Serious Debt Problems at Local Governments

Updated August 14, 2013, 6:05 p.m. ET

Chinese Banks Feel Strains After Long Credit Binge

Rapid Loan Growth Has Led to Serious Debt Problems at Local Governments



A cornerstone of China’s financial edifice is beginning to show some cracks. The country’s banking sector, a key part of a financial system that has powered China through three decades of breakneck expansion, is feeling the strain of years of rapid credit growth. Bank-fueled lending to state enterprises and local governments has led to overcapacity; serious debt problems for local governments, companies and lenders alike; and numerous white-elephant projects, from nearly empty malls and resorts to bridges to nowhere.

Chinese banks now are trying to strengthen their balance sheets ahead of an expected rise in bad loans coupled with slower earnings growth. Raising capital will likely be expensive for the banks because investors, who have sold off shares of banks, are worried about their deteriorating health and China’s slowing growth. Read more of this post

China Raises Scrutiny on Foreign Firms

August 14, 2013, 2:09 p.m. ET

China Raises Scrutiny on Foreign Firms

Regulators Expand Inquiry Into Drug Sector and Seek Data on Car Pricing


BEIJING—China’s regulators are increasing their scrutiny of foreign companies in industries from drugs to cars to baby formula as part of a drive to push down prices for consumers. The intensifying effort could help China’s new leaders win favor at home and give Beijing a greater say in global commerce. The latest move came Wednesday, when officials at China’s State Administration for Industry and Commerce said they would open a three-month probe into possible bribery in the pharmaceutical and medical-device industries, citing public dissatisfaction with high prices. Read more of this post

China Drugmakers Decline on Corruption Crackdown

China Drugmakers Decline on Corruption Crackdown: Shanghai Mover

Jiangsu Hengrui Medicine Co. fell the most in almost three years in Shanghai trading as drugmakers declined after the Xinhua News Agency reported China is starting a campaign to crack down on illegal competition in the industry. Jiangsu Hengrui dropped 5.9 percent to 32.76 yuan at the close, the biggest loss since Oct. 11, 2010. Beijing SL Pharmaceutical Co. slid 5.8 percent to 55.59 yuan. A gauge of health-care companies fell 3 percent, the most among 10 industry groups on the CSI 300 index. The Shanghai Composite index dropped 0.9 percent and CSI 300 index lost 1.2 percent. “The crackdown on irregularities in the medical sector has undermined confidence among some investors and they expect drug prices to fall,” said Wu Kan, a Shanghai-based fund manager at Dragon Life Insurance Co., which oversees $3.3 billion. Read more of this post

China could target oil firms, telecoms, banks in price probes: report

China could target oil firms, telecoms, banks in price probes: report

6:29am EDT

By Kazunori Takada

BEIJING (Reuters) – China’s powerful price regulator could target the petroleum, telecommunications, banking and auto sectors next in its investigations into violations of the country’s anti-trust laws, state media quoted a senior official as saying. The National Development and Reform Commission (NDRC) would look at industries that have an impact on the lives of ordinary Chinese, China Central Television (CCTV) quoted Xu Kunlin, head of the anti-monopoly bureau at the NDRC, as saying on one of its programs. The NDRC has launched nearly 20 pricing-related probes into domestic and foreign firms in the last three years, according to official media reports and research published by law firms. But the scope of its investigations in the world’s second-biggest economy have gathered pace in recent months and coincide with criticism in official media about the price of goods such as milk powder, medicine, luxury cars and jewellery. Read more of this post

%d bloggers like this: