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Sam Adams Creator Becomes Billionaire as Craft Beer Rises; Through a combination of in-person proselytizing and folksy TV ads, Koch created widespread awareness

Sam Adams Creator Becomes Billionaire as Craft Beer Rises

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Armed with a family recipe and a flair for marketing, C. James “Jim” Koch popularized craft beer in the U.S. and turned Boston Beer Co. into the second-largest American-owned brewery. It also made him a billionaire, as frothy sales of his flagship Samuel Adams brand helped Boston Beer shares double in the past year and reach a record high Friday. Craft beer such as Sam Adams has been a bright spot in an otherwise stale U.S. beer market. Total American beer sales fell 2 percent in the first half of 2013, according to data compiled by Bloomberg, while the craft brew segment grew 15 percent. Boston Beer’s sales increased more than 17 percent during the period. Read more of this post

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BlackRock to JPMorgan See Deeper Emerging-Market Bond Losses; “We’re not yet convinced that we’ve seen the worst in terms of flows out of emerging markets”

BlackRock to JPMorgan See Deeper Emerging-Market Losses

Wall Street’s biggest firms are predicting intensifying bond losses in emerging markets, where borrowing costs have already soared to the highest in more than four years versus U.S. corporate debt, as the Federal Reserve considers curtailing record stimulus. “We’re not yet convinced that we’ve seen the worst in terms of flows out of emerging markets,” Jeffrey Rosenberg, the chief investment strategist in fixed-income at New York-based BlackRock Inc. (BLK), the world’s largest asset manager, said in a telephone interview, expressing his own views. “We see a lot of valuation change but we see the potential for even more valuation change.” Read more of this post

Battle-weary policy makers do not want to believe that an emerging market crisis is possible. But there are striking resemblances now to the economic troubles these countries suffered in the 1990s

Sept. 9, 2013, 6:31 a.m. EDT

No country is safe from emerging market meltdown

Commentary: Repeat of 1990s debt crisis would threaten global growth

By Satyajit Das

SYDNEY (MarketWatch) — Battle-weary policy makers do not want to believe that an emerging market crisis is possible. But there are striking resemblances now to the economic troubles these countries suffered in the 1990s. Then, loose monetary policies pursued by the Federal Reserve and the Bank of Japan brought large capital inflows into emerging markets, especially Asia. In 1994, Federal Reserve Chairman Alan Greenspan withdrew liquidity, resulting in a doubling of U.S. interest rates over 12 months. In the 1994 ‘Great Bond Massacre’, holders of Treasury bonds suffered losses of around $600 billion. Trading losses led to the bankruptcy of Orange County in California, the effective closure of Kidder Peabody and failures of many investment funds. Read more of this post

Scientists studying solar radiation management as a way to cool planet

Scientists studying solar radiation management as a way to cool planet

By Lenny Bernstein, Monday, September 9, 6:54 AM

The 1991 eruption of Mount Pinatubo, a volcano in the Philippines, blasted enough fine particles and sulfur dioxide gas into the atmosphere to envelop the Earth in a high-altitude cloud for the better part of two months. When scientists checked in 1992, they determined that the cloud had deflected enough sunlight to cool the planet by about 1 degree. Now, with the planet warming inexorably and the threat of long-term climate change looming, some experts are wondering whether the time may one day come when humans want to deliberately attempt such “solar radiation management.” The idea is being investigated by, among others, the National Academy of Sciences, which is conducting research funded by the CIA, NASA and the National Oceanic and Atmospheric Administration. The academy has invited experts to discuss the idea Tuesday. Read more of this post

Nintendo Slumps After Stock Excluded From Nikkei

Nintendo Slumps After Stock Excluded From Nikkei: Tokyo Mover

Nintendo Co. (7974), the world’s largest maker of video games, fell the most in more than two years as CLSA Asia-Pacific Markets cut the stock to sell after the company wasn’t added to the Nikkei 225 Stock Average. The shares fell 9 percent to 10,780 yen as of 2:19 p.m. in Tokyo, the biggest drop since July 2011. Before today, the Kyoto-based company had gained 31 percent this year amid expectation the transfer of its listing to Tokyo from Osaka may see the stock added to the Nikkei. Read more of this post

Nissan-Beijing Traffic System to Help Ease World’s Worst Commute

Nissan-Beijing Traffic System to Help Ease World’s Worst Commute

Beijing, once voted the city with the world’s most onerous commute, is getting help from an automaker to ease its traffic jams.

Nissan Motor Co. (7201) jointly developed a real-time traffic information system with the Chinese capital that provides motorists the fastest route to their destinations, based on road conditions provided by the city’s traffic information center. The suggested shortcuts are delivered through a dashboard-mounted device similar to a global positioning system. Read more of this post

Thailand to Scrap Luxury-Goods Tax to Lure Travelers From China

Thailand to Scrap Luxury-Goods Tax to Lure Travelers From China

Thailand’s government said it will scrap import duties on luxury watches, clothes and cosmetics to help the country compete with Hong Kong and Singapore for wealthy travelers from markets including China. The duty on some luxury goods will be cut to zero from 30 percent by the end of the year, Permanent Secretary for Finance Areepong Bhoocha-Oom told reporters in Chonburi province. Read more of this post

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