Fears Rise as China’s Yields Soar

Fears Rise as China’s Yields Soar

SHEN HONG

Nov. 25, 2013 1:31 p.m. ET

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SHANGHAI—Yields on Chinese government debt have soared to their highest levels in nearly nine years amid Beijing’s relentless drive to tighten the monetary spigots in the world’s second-largest economy. The higher yields on government debt have pushed up borrowing costs broadly, creating obstacles for companies and government agencies looking to tap bond markets. Several Chinese development banks, which have mandates to encourage growth through targeted investments, have had to either scale back borrowing plans or postpone bond sales. Read more of this post

Why You Should Embrace The Tao Of The Jedi

Why You Should Embrace The Tao Of The Jedi

JAMES ALTUCHERTHE ALTUCHER CONFIDENTIAL NOV. 25, 2013, 4:42 PM 2,220 1

In 2005 I was going to go out of business (again). My biggest investor had lost all his money. He had a nervous twitch and whenever I ran into him he was constantly twitching. “I need my money back,” he told me. But I didn’t have it. I had invested it. It would be a year before I could legally give it to him. So I didn’t know what to do. He once threw a chair at me he was so angry. So I did what any normal 37-year-old man in the hedge funds business would do: I bought the book, “The Tao of Star Wars.” Because I knew deep down if I just surrendered to The Force then my business would be ok.  Read more of this post

The Warren Buffett Wannabe Index

November 25, 2013, 5:04 P.M. ET

The Warren Buffett Wannabe Index

By Robert Milburn

Want to invest like Warren Buffett? That’s the premise of a recently launched new app, callediBillionaire, which allows you to dig through the holdings of the nation’s top financial gurus and create your own portfolio based on where the smart money has parked cash. These guys (no females on the list yet) include Warren Buffett, Carl Icahn, and David Einhorn, investors famous for beating the broader market. So you can understand the logic of this investment gimmick, but when we tested the app, we found it had a few bugs still to work out. Read more of this post

How to become a morning person

How to become a morning person

November 26, 2013

Even night owls can learn to be an early bird. Small business owner Jill Chivers has never been a morning person. But that all changed three months ago after a visit to her GP. Chivers was told she would have to exercise regularly or go on medication to lower her cholesterol levels. It was an easy decision. “It was a wake-up call,” she said. “I didn’t want to go on medication, so I now have a morning routine.” Chivers was a night owl who used to watch TV and read until midnight or 1am before rising at 8am. She now gets up at 6am every day to exercise – rain, hail or shine. Read more of this post

The Hunger Games: Catching Fire taps the zeitgeist with its them-and-us society and the feeling that when money is in the hands of so few, the odds are never in our favour.

Review: The Hunger Games: Catching Fire

11-26 13:54 Caijing

The second film in the franchise raises the already-high bar set by The Hunger Games

What are the odds? Like Katniss Everdeen ducking a poison-tip arrow, the keepers of Suzanne Collins’s trilogy of fantasy novels have dodged the perils of the sloppy second franchise film. The Hunger Games: Catching Fire is leaner, gutsier and smarter. In hand-to-hand combat, it would have the first film on the floor, trapped in a headlock, whimpering for mercy. Over two-and-a-half heart-pounding hours, it doesn’t drag for a second. Read more of this post

Eve Taylor – the 81-year-old company founder who won’t retire

Eve Taylor – the 81-year-old company founder who won’t retire

Great-grandmother Eve Taylor founded her family-run cosmetics company in 1968 and has been working for the British brand ever since. She talks to Radhika Sanghani about 7.30am starts and the Asian export market. Eve Taylor, founder of Eve Taylor cosmetics company specialising in aromatherapy oils Photo: MARTIN POPE

By Radhika Sanghani

12:46PM GMT 25 Nov 2013

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It was the moment one Christmas when Eve Taylor had just ironed two dozen grey school shirts for her five sons that she realised something had to change. She was in her early thirties; feeling trapped in a man’s world. She put down the iron, signed up for beauty classes, and went on to found an aromatherapy and skincare company. Read more of this post

Hit the high notes: Lessons on business innovation from soprano singer Tania de Jong

Caitlin Fitzsimmons Online editor

Hit the high notes: Lessons on business innovation from soprano singer Tania de Jong

Published 26 November 2013 11:28, Updated 26 November 2013 16:02

In this world of rapid change and cut-throat competition, all businesses need to innovate. The problem is that it is easier said than done. Soprano singer Tania de Jong is both executive producer and keynote speaker at this week’s Creative Innovation conference in Melbourne. She is also founder of Creative Universe and social enterprise Creativity Australia. Tania de Jong believes creativity and the arts don’t always go together. Here are de Jong’s tips for how business can foster creativity and innovation. Read more of this post

TV sports broadcasts as a language-learning tool

TV sports broadcasts as a language-learning tool

BY MARK SCHREIBER

SPECIAL TO THE JAPAN TIMES

NOV 24, 2013

Another exciting grand sumo tournament ended yesterday, and brought back memories of my first encounter with sumo, in Okinawa back in September 1965. Within a couple of weeks after my arrival there, I was enrolled in Basic Japanese classes at the University of Maryland’s Far East Division and making my first awkward efforts to learn the language. In addition to my beginner’s textbook and a newly purchased 和英辞典 (waei jiten, Japanese-English dictionary), I had two supplementary learning materials: The Okinawa Morning Star, the local daily English newspaper; and our old monochrome TV set. Read more of this post

When Superstition Works; Some superstitions increase the illusion of control—and can even boost performance. In one recent study, golfers sank 35% more putts when playing with a ball they were told was ‘lucky.’

When Superstition Works

Some boost the illusion of control and can even boost performance

ANGELA CHEN

Nov. 25, 2013 7:16 p.m. ET

Even if you scoff at Friday the 13th and aren’t wary of black cats, you’re probably still superstitious. Angela Chen takes a look at the research to prove people are superstitious, and whether superstitions can actually be beneficial. Photo: Getty Images. It starts when people try something different—Pepsi instead of Coca-ColaKO -0.15% a blue tie instead of the old red one—and find that something good happens. Read more of this post

Global airlines brought in $27 billion in nonticket revenue last year, an 11-fold increase over 2007

Thriftiest Fliers Outwit Fee-Hungry Airlines

Travelers Pack Special-Sized Bags, Use Other Tricks to Avoid Extra Charges

JACK NICAS

Updated Nov. 25, 2013 5:28 p.m. ET

The airline industry’s increasing reliance on extra fees is spawning a sort of arms race between discount carriers and their thriftiest customers to outsmart each other. Global airlines brought in $27 billion in nonticket revenue last year, an 11-fold increase over 2007, according to airline-consulting firm IdeaWorks Co. Nonticket revenue includes fees for extras, as well as sales of frequent-flier points, hotel rooms and rental cars, among other things. Read more of this post

The Next Frontier in Heart Care; Research Aims to Personalize Treatment With Genetics

The Next Frontier in Heart Care

Research Aims to Personalize Treatment With Genetics

RON WINSLOW

Nov. 25, 2013 7:18 p.m. ET

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Two influential heart studies are joining forces to bring the power of genetics and other 21st century tools to battle against heart disease and stroke. Ron Winslow and study co-director Dr. Vasan Ramachandran explain. Photo: Shubhangi Ganeshrao Kene/Corbis.

Scientists from two landmark heart-disease studies are joining forces to wield the power of genetics in battling the leading cause of death in the U.S. Cardiologists have struggled in recent years to score major advances against heart disease and stroke. Although death rates have been dropping steadily since the 1960s, progress combating the twin diseases has plateaued by other measures. Read more of this post

Hospitals Take On Post-ICU Syndrome, Helping Patients Recover

Hospitals Take On Post-ICU Syndrome, Helping Patients Recover

Especially at Risk Are Those Who Treated for Sepsis and Who Experience ‘ICU Delirium’

LAURA LANDRO

Nov. 25, 2013 7:00 p.m. ET

Hospitals are doing more to help the growing number of patients who receive treatment for serious illness in the intensive-care unit—only to find their release is the start of a whole new set of problems. With medical advances, even the sickest patients now often survive potentially life-threatening conditions after a stay in intensive care. Many experience aftereffects, not only of the illness but also of the very medical care that may have saved their lives. Read more of this post

ADHD Fakers Hankering for Pills Thwarted by Lie Detectors

ADHD Fakers Hankering for Pills Thwarted by Lie Detectors

College students faking symptoms of attention-deficit hyperactivity disorder to get hold of pills may have met their match in an ADHD lie detector device. People are acting fidgety and inattentive to try to dupe doctors into writing prescriptions for ADHD drugs, which can be used to get high, stay awake or concentrate while studying. The growing illicit use of the drugs on college campuses and a tripling in emergency-room visits linked to the pills have helped spur efforts to improve diagnosis. Read more of this post

Do Firms Issue More Equity When Markets Are More Liquid?

Do Firms Issue More Equity When Markets Are More Liquid?

Rene M. Stulz Ohio State University (OSU) – Department of Finance; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI)

Dimitrios Vagias Erasmus University Rotterdam (EUR) – Rotterdam School of Management (RSM)

Mathijs A. Van Dijk Erasmus University – Rotterdam School of Management; Erasmus Research Institute of Management (ERIM)

July 9, 2013
Fisher College of Business Working Paper No. 2013-03-10
Charles A. Dice Center Working Paper No. 2013-10

Abstract: 
This paper investigates how public equity issuance is related to stock market liquidity. Using quarterly data on IPOs and SEOs in 36 countries over the period 1995-2008, we show that equity issuance is significantly and positively related to contemporaneous and lagged innovations in aggregate local market liquidity. This relation survives the inclusion of proxies for market timing, capital market conditions, growth prospects, asymmetric information, and investor sentiment. Liquidity considerations are as important in explaining equity issuance as market timing considerations. The relation between liquidity and issuance is driven by the quarters with the greatest deterioration in liquidity and is stronger for IPOs than for SEOs. Firms are more likely to carry out private instead of public equity issues and to postpone public equity issues when market liquidity worsens. Overall, we interpret our findings as supportive of the view that market liquidity is an important determinant of equity issuance that is distinct from other determinants examined to date.

Dr Who breaks box office record; Latest example of alternative content brought into cinemas

November 25, 2013 11:13 pm

Dr Who breaks box office record

By Robert Cookson, Digital Media Correspondent

Special cinema screenings of the 50th anniversary episode of Dr Who over the weekend have broken the European record for box office takings from so-called “alternative content”. The Day of the Doctor was screened in 3D by 440 cinemas in the UK and raised £1.8m – making it the third highest-grossing film this weekend after The Hunger Games: Catching Fire and Gravity, according to figures from Rentrak. Read more of this post

Why everyone wants to buy America’s least liked cable company

Why everyone wants to buy America’s least liked cable company

By John McDuling @jmcduling

November 25, 2013

Time Warner Cable is America’s least liked cable provider, and its second least liked internet service provider, in terms of customer satisfaction. It’s bearing the brunt of the cord-cutting phenomenon, hemorrhaging customers faster than anyone else, and increasingly dependent on annoying fees to bolster its bottom line. Read more of this post

Apple acquisition is a disappointment: Over the past two years, PrimeSense lost part of its motivation and capabilities, and however respectable the end, it was far from its potential

Apple acquisition is a disappointment

Over the past two years, PrimeSense lost part of its motivation and capabilities, and however respectable the end, it was far from its potential.

24 November 13 14:41, Shmulik Shelach

On March 5, 2000, graphic chipset vendor Nvidia Corporation (Nasdaq: NVDA) broke through the glass ceiling. It signed a contract to supply graphic processing units (GPUs) to Microsoft Corporation (Nasdaq: MSFT) for its Xbox game consoles. Nvidia received a down payment of $200 million (30% of turnover that year), strongly contributing the jump in its sales from $735 million to $1.91 billion. Read more of this post

Zendesk eyes Fortune 500 as it hits over 30,000 customers globally

Nassim Khadem Reporter

Zendesk eyes Fortune 500 as it hits over 30,000 customers globally

Published 26 November 2013 08:46, Updated 26 November 2013 12:12

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Zendesk’s Morten Primdahl and Michael Folmer Hansen. The company takes expensive and bulky on-premise customer support software into the cloud. The founder of start-up Zendesk, a cloud-based customer service software provider, says the company is targeting Fortune 500 companies in a bid to more than double 30,000 customers within the next few years. Read more of this post

Why Snapchat is screwed

Why Snapchat is screwed

BY SHANE SNOW 
ON NOVEMBER 25, 2013

(This post originally appeared on LinkedIn Influencers. Follow Shane Snow.)

Last week, Business Insider chief Henry Blodget wrote a post titled, “EXCLUSIVE: How Snapchat Plans To Make Money.” With a juicy title like that, one couldn’t help but click. The disappearing MMS app, Snapchat, is as hot as a startup can be right now. Recent reports say its board turned down a $3 billion buyout offer from Facebook, even though Snapchat makes no money. The news has caused a flurry of speculation – what does Snapchat know that we don’t know? – and hungry social media consultants and marketers are eagerly pointing to it as evidence that you should spend money on this, guys! Read more of this post

Lenovo’s rise amid giants defies critics

Lenovo’s rise amid giants defies critics

Updated: 2013-11-25 07:50

By Alfred Romann in Hong Kong ( China Daily) Read more of this post

Clash of Clans is a big hit in China despite in-app payment disaster

Clash of Clans is a big hit in China despite in-app payment disaster

November 26, 2013

by Steven Millward

Supercell’s newest game Clash of Clans is proving to be a big hit in China right now. According to one of China’s biggest third-party Android app stores, Wandoujia, it’s the top new game in the country with over 200,000 downloads this month from just that one app store. But there’s a problem. The developers are not going to make much money from all the new Clash of Clans fans in China – though it’s not because of piracy, since it’s a free game. Instead, there’s a massive in-app payment mess-up going on whereby the new game uses only Google’s in-app billing but doesn’t have a localized solution in place for Chinese gamers. As a result, notes Wandoujia’s newest China App Index for November, the popular game tries to force Chinese users to install the Google Play store, which few in the country use. But even that won’t work. That’s because Google’s app store in China doesn’t support paid apps, so there’s literally no way for Chinese gamers to get in-app schwag in Clash of Clans [1]. Of course, not all game developers make this mistake. Many find a local publishing partner to adapt their game for tough markets like China – as exemplified by the guys who make Fruit Ninja – or find a method to take in-app payments in a way that suits local consumers. For example, the studio could form a tie-up with a telco for carrier billing, use Alipay in China (like Paypal), or implement a third-party app store billing system (ie: not Google’s). In-app purchases for Clash of Clans on iPhone work fine and very easily via Chinese iTunes accounts, so this is an Android-only issue in China.

Influx of Tech Riches Prompts a Backlash in San Francisco

November 24, 2013

Backlash by the Bay: Tech Riches Alter a City

By ERICA GOODE and CLAIRE CAIN MILLER

SAN FRANCISCO — If there was a tipping point, a moment that crystallized the anger building here toward the so-called technorati for driving up housing prices and threatening the city’s bohemian identity, it came in response to a diatribe posted online in August by a young Internet entrepreneur. The author, a start-up founder named Peter Shih, listed 10 things he hated about San Francisco. Homeless people, for example. And the “constantly PMSing” weather. And “girls who are obviously 4s and behave like they’re 9s.” Read more of this post

A Debate Over Paying Board Nominees of Activist Funds

NOVEMBER 25, 2013, 9:24 PM

A Debate Over Paying Board Nominees of Activist Funds

By DAVID GELLES

When executives serve on a company’s board, they are often handsomely compensated. But as activist hedge funds continue to get more of their preferred candidates on the boards of companies, some of the hedge funds are angling for certain directors to be paid twice: once by the company, and once by the hedge funds that supported their candidacy. Read more of this post

Glee Gets as Little Respect as Gloom With Fed Driving Stocks

Glee Gets as Little Respect as Gloom With Fed Driving Stocks

Craig Hodges, who runs one of the best-performing U.S. mutual funds, is preparing for the next leg of America’s almost five-year-old bull market. After his holdings of Yelp Inc. and Pandora Media Inc. doubled earlier this year, the 50-year-old manager is adding a new stock: Gogo Inc., an unprofitable provider of in-flight Wi-Fi that’s up 63 percent since its June public offering. Read more of this post

‘Golden Leash’ Payments Fuel Debate; Shareholders and Advisers Are Choosing Sides Over Activists Paying Bonuses to Board Members

‘Golden Leash’ Payments Fuel Debate

Shareholders and Advisers Are Choosing Sides Over Activists Paying Bonuses to Board Members

DAVID BENOIT and JOANN S. LUBLIN

Updated Nov. 25, 2013 6:36 p.m. ET

A shareholder vote Tuesday in California for board members of a small, local bank is emerging as a test case for one of the hottest topics in corporate governance: whether activist investors should be able to pay bonuses to their picks for board seats. After approving a new corporate bylaw that would bar such investor-paid bonuses, three directors at Provident Financial Holdings Inc. PROV +0.28% have found themselves in the middle of the debate and are facing a call for them be voted out. Activists say the payments reward directors for helping increase shares’ value, which benefits all company investors. Critics have dubbed the issue the “golden leash,” referring to some activists’ aim to offer bonus payments over time to board members they help install at a company. Lawyers for companies have argued that such deals can compromise directors’ independence by tying them to specific shareholders, when they have a duty to all stockholders. Read more of this post

Beermaker Efes No Match for Putin Faces Downgrade: Turkey Credit

Beermaker Efes No Match for Putin Faces Downgrade: Turkey Credit

Turkey’s biggest brewer risks losing an investment-grade rating as government officials at home and in Russia, its two largest markets, clamp down on alcohol sales and consumption. The yield on Anadolu Efes Biracilik & Malt Sanayii AS (AEFES) dollar bond due November 2022 surged 57 basis points in the past month to 5.79 percent on Nov. 22 amid alcohol restrictions in Turkey and as the company said Nov. 14 that it will stop brewing beer in Moscow from Jan. 1. That compares with an 11 basis-point gain in JPMorgan Chase & Co’s CEMBI Consumer Index. Read more of this post

Hedge-Fund Fight Club Traded Illegal Tips Not Punches

Hedge-Fund Fight Club Traded Illegal Tips Not Punches

The hedge-fund analysts vacationed together in the Hamptons, gambled in Las Vegas and adopted a creed that parodied the rules in the Brad Pitt film “Fight Club.” Instead of trading punches, they traded illegal tips that allowed their portfolio managers to reap tens of millions of dollars in profit. Having pleaded guilty to insider trading, four of the men are now set to be witnesses against SAC Capital Advisors LP fund manager Michael Steinberg. Ex-SAC analyst Jon Horvath could take the stand as early as today in Manhattan federal court against his former boss after ex-Diamondback Capital Management LLC analyst Jesse Tortora concludes his testimony. Read more of this post

Broking faces change from ‘unbundling’ effects; Broker research, meetings with corporates, IT and market data services are all bought by fund managers out of underlying client funds by bundling the payment into trading commissions

November 25, 2013 10:29 am

Comment: Broking faces change from ‘unbundling’ effects

By Richard Balarkas

The Financial Conduct Authority’s planned review of the practice of “bundled commission payments” was one of a series of recent announcements that hint at a concerted effort to “bootstrap” a UK financial services sector still mired in the aftermath of the financial crisis. It could yet have a profound effect on bank earnings. When a fund manager buys or sells stock on behalf of a client the commission paid to the broker comes from client assets. This is not in itself a problem as the cost of executing a trade is clear and will, through the settlement process, be attributed to the clients on whose behalf the trade was undertaken. Read more of this post

Plenty of signs of froth in equities

Last updated: November 25, 2013 9:14 pm

Plenty of signs of froth in equities

By James Mackintosh

Prepare for slower but still acceptable share gains

Equity markets move in cycles, from despair through disbelief to euphoria and back. One of the skills of the investor is to judge where in the cycle they are, and invest accordingly. At the moment, there are plenty of signs of froth. Perhaps the market is reaching the euphoria stage? Peter Oppenheimer, European equity strategist at Goldman Sachs, thinks not. He puts the region in the third phase of a four-stage cycle starting with despair, hope, then growth and finally optimism. Read more of this post

Policy makers must refresh SME approach; Clear vision needed, including proper plan to police non-banks

November 25, 2013 7:10 pm

Policy makers must refresh SME approach

By Patrick Jenkins

Clear vision needed, including proper plan to police non-banks

The ability of smaller businesses to secure bank loans – or, rather, their inability to do so – is back at the centre of the political agenda. As policy makers across the western world try desperately to fan the flickering flames of business recovery, attention has turned to the SMEs that underpin most economies, and why they are not investing more by borrowing more. Read more of this post

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