November 16, 2013 Leave a comment

Are There Cockroaches Under Tesla’s Hood?

Tesla Motors Inc. (TSLA) shareholders have had much to fret about lately, from a nosebleed valuation and sagging stock price to periodic YouTube videos of exploding Tesla electric cars. Here’s another one for the list: Sometimes Tesla acts like it doesn’t know what it’s doing when it comes to financial reporting. Consider Tesla’s news release last week disclosing its third-quarter financial results. The headline said Tesla had “Net income (non-GAAP) of $16 million.” Tesla spent parts of the first three pages discussing this and other nonstandard metrics that don’t comply with generally accepted accounting principles. Read more of this post

Filed under Macro Trends

Yu’E Bao Draws Chinese Investors as They Seek to Beat Inflation

November 16, 2013 Leave a comment

Yu’E Bao Draws Chinese Investors as They Seek to Beat Inflation

Yu’E Bao, an investment product offered through Alibaba Group Holding Ltd.’s third-party payment affiliate Alipay.com Co., has attracted more than 100 billion yuan ($16.4 billion) as Chinese investors seek returns that beat inflation. Users of Yu’E Bao, created by Beijing-based Tian Hong Asset Management Co., jumped 12 times to 30 million by Nov. 14 from the end of June. The scale of the product jumped almost 18 times to 100 billion yuan from 5.7 billion yuan, Tian Hong said in an e-mail. Read more of this post

Filed under Macro Trends

S. Korean steelmaker POSCO CEO resigns; Chung Joon-yang Decides to Leave After Global Slump in Steel Industry Hits Earnings

November 16, 2013 Leave a comment

Posco CEO Offers to Resign
Chung Joon-yang Decides to Leave After Global Slump in Steel Industry Hits Earnings
Nov. 15, 2013 4:40 a.m. ET
The chief executive of South Korea’s largest steelmaker, Posco, 005490.SE +0.62% has offered to resign after a protracted global slump in the steel industry hit its earnings. Chung Joon-yang, a 55-year-old veteran businessman, who has led the company since February 2009, has submitted his resignation letter to the board Friday, Posco said in a written statement. Read more of this post

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GE to Exit Retail Lending, Tightening Focus on Industrial Businesses

November 16, 2013 Leave a comment

GE to Exit Retail Lending, Tightening Focus on Industrial Businesses

Conglomerate’s Plan Includes Partial Sale of Business Early Next Year

KATE LINEBAUGH

Updated Nov. 15, 2013 7:11 p.m. ET

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General Electric Co. GE +0.78% plans to exit the retail lending business—the conglomerate’s most aggressive move yet to shrink the size of its financing arm, which still generates half its profit. GE said Friday it will file for an initial public offering of its North American retail finance operations in next year’s first quarter. It plans to sell 20% of the unit to raise cash to better capitalize the stand-alone operations. Read more of this post

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Fixing the world’s metals warehousing: why so long?

November 16, 2013 Leave a comment

Fixing the world’s metals warehousing: why so long?

2:22am EST

By Susan Thomas, Veronica Brown and Josephine Mason

LONDON/NEW YORK (Reuters) – In the mid-1990s the London Metal Exchange was embroiled in a criminal investigation after the discovery that a trader – nicknamed Mr. 5 Percent for the share of the world’s copper he reputedly controlled – had spent years manipulating its systems to hoard copper and boost the price. Read more of this post

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The Return of the Fashion Logo; Serious logomania may be long behind us, but there are newer (and more subversive) ways to say ‘I’m with the brand’

November 16, 2013 Leave a comment

The Return of the Fashion Logo

Serious logomania may be long behind us, but there are newer (and more subversive) ways to say ‘I’m with the brand’

MEENAL MISTRY

Nov. 15, 2013 5:31 p.m. ET

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F. Martin Ramin/The Wall Street Journal, Styling by Anne Cardenas (sweater, necklace, bag, cuff)

I COULD NEVER have predicted my reaction to Louis Vuitton’s new Vivienne bag—a petite cross-body satchel in fine-grained calfskin with a wholly unsubtle shiny, gold, 2-by-2-inch interlocking “LV” as its closure. The sizable chunk of hardware would normally be a bit much for my tastes, but it somehow made sense on this beautifully constructed satchel that rested on my hip just so. I adored the bag without reservation. Read more of this post

Filed under Macro Trends

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