Banks Mostly Avoid Providing Bitcoin Services

Banks Mostly Avoid Providing Bitcoin Services

Lenders Don’t Share Investors’ Enthusiasm for the Virtual-Currency Craze

ROBIN SIDEL

Dec. 22, 2013 4:32 p.m. ET

Companies trying to cash in on the newfangled bitcoin craze are having trouble getting old-fashioned bank accounts. Lenders are leery of dealing with virtual-currency companies because of concerns that the businesses could run afoul of anti-money-laundering laws or be involved in illegal activities, banking executives say. Regulators and central bankers around the world have raised similar concerns in recent months. Read more of this post

Why Market Forecasts Are So Bad; Analysts’ predictions are frequently less accurate than random guesses.

Why Market Forecasts Are So Bad

Analysts’ predictions are frequently less accurate than random guesses.

JOE LIGHT

Dec. 20, 2013 7:15 p.m. ET

The oracles known as Wall Street strategists have spoken: The S&P 500 will rise 6.4% by the end of next year. But the evidence shows you’d do just as well guessing yourself. Read more of this post

Turkey Will Either Lose Erdogan or Democracy

Turkey Will Either Lose Erdogan or Democracy

There are two reasons Turkish Prime Minister Recep Tayyip Erdogan may not survive the current government corruption scandals in Turkey. And if he does, the cost to the “Turkish model” will be enormous. Read more of this post

Philippine Stocks First to Worst as Funds Sell: Southeast Asia

Philippine Stocks First to Worst as Funds Sell: Southeast Asia

A 21 percent slump in Philippine stocks that’s turned them from the world’s best performers into the biggest losers isn’t enough to lure back Macquarie Investment Management Ltd. and Bank Julius Baer & Co. Read more of this post

India’s New Corruption Watchdog Still Needs Watching

India’s New Watchdog Still Needs Watching

A half-century after the idea was first raised, India finally has its “Lokpal,” or “protector” in Hindi. The term refers to the anti-corruption watchdog body, approved by Parliament last week, whose Herculean task it will be to root out public corruption that saps billions of dollars from the exchequer, extorts bribes from ordinary citizens when they need anything from a land-use permit to a driver’s license, and has almost obliterated Indians’ faith in their once-proud democracy. Read more of this post

Taxing time for corporates in India

December 22, 2013 7:43 am

Taxing time for corporates in India

By James Crabtree in Mumbai

Two weeks ago in Helsinki, Nokia executives waited nervously for word from a courtroom halfway around the world in New Delhi. At stake was their ability to transfer a large Indian factory to Microsoft, as part of the sale of Nokia’s €5.4bn phone business to the US group – a move that led to a fierce tax battle, involving dawn raids, frozen assets, and claims adding up to $1.1bn. Read more of this post

Japan store chain Lawson scales back expansion plans in China

December 22, 2013 1:11 pm

Japan store chain Lawson scales back expansion plans in China

By Demetri Sevastopulo in Hong Kong

Lawson, the Japanese convenience store chain, is slowing its expansion in China because it thinks the Chinese government has not done enough to spur consumption in the world’s second-largest economy. Takeshi Niinami, Lawson’s chief executive, told the Financial Times that Lawson had decided to push back its plan to open 10,000 stores in China by 2020 to about 2025. It currently has 384 stores in the country. Read more of this post

Retailers are struggling to find the right formula for the demanding baby-boomer market

December 22, 2013 8:11 pm

Fashion: A mature market

By Andrea Felsted and Norma Cohen

Retailers are struggling to find the right formula for the demanding baby-boomer market

Alison Wells, a professional singer and teacher from east London, says clothes shopping – once a delight for her – has become a chore. A trim 5ft 8in, and a size 10, Ms Wells ought to be a model fashion customer. But she is not. At 57, the task of finding clothing that is both fashionable and age-appropriate is frustrating. Read more of this post

Chicken Sales Plummet in China, Hong Kong After Bird Flu Returns

Chicken Sales Plummet in China, Hong Kong After Bird Flu Returns

Tyler Durden on 12/22/2013 21:23 -0500

The last time China’s birdflu epidemic dominated the ether, and internet, was in April, when news of numerous casualties led many to believe that the epidemic was on the verge of breaching all local containment measures. And then, suddenly, all media coverage of China’s H7N9 story disappeared as if by Department of Truth (and propaganda) magic. Naturally, the quick popular response was to assume that all was again well since the government no longer made it a notable topic – just like the Japanese government did with Fukushima. However, as in the case of Fukushima, it turns out all may not have been well. As Japan’s NHK reports, H7N9 bird flu strain is once again spreading in southern China, claiming the 148th victim of the vicious flu virus. Or perhaps instead of “once again” it was simply “constantly.” Read more of this post

An Obscure Melon Could Save The US Soda Industry

An Obscure Melon Could Save The US Soda Industry

MARINA LOPES, REUTERS
DEC. 22, 2013, 3:50 PM 4,320 1

NEW YORK (Reuters) – An obscure melon once cultivated by Buddhist monks in China to sweeten tea could give the $8 billion U.S. diet soda industry a shot at winning back consumers concerned about artificial ingredients. Read more of this post

Thai Businessman of the Year: Tos Chirathivat boldly leading Central retail chain overseas

BUSINESSMAN OF THE YEAR

Tos Chirathivat boldly leading central retail chain overseas

The Nation
December 23, 2013 1:00 am

The Chirathivat family has continued to strengthen its retail empire ever since the first Central store opened in 1957, but overseas expansion has become remarkable only recently thanks to the vision of Tos Chirathivat from the clan’s third generation. Read more of this post

Samsung Life Insurance bought a chunk of Samsung Card from a host of the group’s other finance-related subsidiaries in what analysts see as a signal that Samsung is restructuring itself

Samsung group moves suggest a restructuring

Dec 16,2013

Samsung Life Insurance bought a chunk of Samsung Card from a host of the group’s other finance-related subsidiaries in what analysts see as a signal that Samsung is restructuring itself.  Read more of this post

Hard times for Korean banks and employees; Branch closures, work reassignments promise an unhappy new year

Hard times for banks and employees

Branch closures, work reassignments promise an unhappy new year

BY LEE TAE-KYUNG, AND JEONG SEON-EON [angie@joongang.co.kr]

Dec 16,2013

A manager nicknamed Mr. A, who is an employee at Shinhan Bank with 20 years of experience, feels anxious these days. Thinking he has built a good career by working at different branches and headquarters, Mr. A was hoping he would get a promotion next year to become a branch head. However, the bank decided to close 50 underperforming branches early next year and open only five to 10 new ones. Read more of this post

HK Homebuyers waiting for 20pc slide

Homebuyers waiting for 20pc slide
Karen Chiu
Tuesday, December 17, 2013
Nearly three out of five people would buy next year if secondary home prices fell around 20 percent, a survey by Midland Realty shows. Of 830 people polled last week, a quarter believed prices would decline further next year. And of the homeowners among them, almost half said they want to sell their units due to likely interest rate hikes and the imposition of more government curbs. Read more of this post

Bitcoin Finds Itty-Bitty Market in Indonesia

Bitcoin Finds Itty-Bitty Market in Indonesia

By Faisal Maliki Baskoro on 3:55 pm December 21, 2013.

Though the total market share of bitcoin in Indonesia is less than 1 percent, the weakening rupiah and the prospect of the digital currency as an investment may encourage its development in the archipelago. Read more of this post

Top Infosys Executive, Seen as Future CEO, Resigns

Top Infosys Executive, Seen as Future CEO, Resigns

By Agence France-Presse

 on 9:01 pm December 22, 2013.
Atop executive of Infosys, tipped as a future chief executive of the outsourcing giant has resigned, the latest in a string of departures since co-founder Narayana Murthy returned to lead the company. Read more of this post

Retail chain Robins Kitchen collapses, Melbourne icon Dimmeys on the brink

James Thomson Editor

Retail chain Robins Kitchen collapses, Melbourne icon Dimmeys on the brink

Published 18 December 2013 11:07, Updated 19 December 2013 07:47

Australia’s beleaguered retail sector has received an unwanted Christmas gift: the major Queensland retailer Robins Kitchen has been placed in administration and iconic Victorian chain Dimmeys is now facing the same fate. Read more of this post

1% Spike In Yields = $200 Billion In Losses For US Firms

1% Spike In Yields = $200 Billion In Losses For US Firms

Tyler Durden on 12/20/2013 20:58 -0500

Back in May, just after the BOJ unleashed its epic QE program, which on a relative basis was about twice the size of the Fed’s own QE, and when bond yields for JGBs suddenly soared higher before a flurry of bond market halts forced the BOJ to completely take over the entire JGB market, the key question among the financial community was how big the losses for Japan’s banks would be as a result of a big jump in yields. We provided the answer: “A 100bp interest rate shock in the JGB yield curve, would cause a loss of ¥10tr for Japan’s banks.” Or, roughly $100 billion for 100 bps. Which is why the BOJ promptly decided to take away from the market the ability to set yields on the margin: after all the paradox of pushing for inflation and keeping bond rates low did not compute so might as well do away with the bond market entirely. Read more of this post

Social innovation key to economic rise, Asian business leaders say; Lawson’s Takeshi Niinami stressed freedom of speech as pivotal in creating an innovative environment. Innovation is enhanced by various viewpoints

Social innovation key to economic rise, Asian business leaders say

Pana Janviroj
Asia News Network
Hong Kong December 22, 2013 1:00 am

Asia can take the lead in social innovation, especially urbanisation, while intellectual-property enhancement will lift its countries out of the middle-income trap, business leaders said. Read more of this post

By expanding its Tommy Hilfiger brand and reuniting the Calvin Klein franchises, PVH could boost profits.

SATURDAY, DECEMBER 21, 2013

Calvin Klein, Meet Calvin Klein

By JACK HOUGH | MORE ARTICLES BY AUTHOR

By expanding its Tommy Hilfiger brand and reuniting the Calvin Klein franchises, PVH could boost profits.

Calvin Klein underwear could soon feature a more flattering bottom line, with jeans to follow. Manhattan-based clothing designer PVH gained control of both product lines, the top sellers for the Calvin Klein brand, this year with a buyout of Warnaco. PVH’s rights already extended to other Calvin Klein clothing and accessory lines. The company plans to cut back on discounting the two Warnaco businesses and invest in better marketing to bring profit margins up to par with its other brands. Read more of this post

Diageo Deal for India’s United Spirits Hits Another Bump

Diageo Deal for India’s United Spirits Hits Another Bump

Diageo, United Breweries, to Appeal Court Decision

ERIC BELLMAN

Dec. 21, 2013 8:21 a.m. ET

An Indian court has annulled the sale of some shares of India’s United Spirits Ltd.532432.BY +0.71% to London-based liquor giant Diageo DGE.LN -0.31% PLC, further delaying Diageo’s big bet on India’s drinkers. Read more of this post