DBS Bank To Acquire Société Générale’s Private Banking Business in Asia or 1.75% of $12.6 billion in assets under management

DBS Bank To Acquire Société Générale’s Private Banking Business in Asia

Singaporean Bank Seeks to Build on the Lucrative Wealth Management Business in the Region

P.R. VENKAT

March 16, 2014 7:36 p.m. ET

SINGAPORE—DBS Bank Ltd. Monday said that it has agreed to buy the Asian private banking business of French bank Société Générale SA GLE.FR -2.19% for $220 million, as the Singaporean bank seeks to build on the lucrative wealth management business in the region. Read more of this post

China’s Credit Nightmare Explained In One Chart

China’s Credit Nightmare Explained In One Chart

Tyler Durden on 03/14/2014 14:22 -0400

Everyone knows that after years of kicking the can and resolutely sticking its head in the sand, China is finally on the verge, if hasn’t already crossed it, of a major credit event, confirmed by the first ever corporate bond default which took place a week ago. Few, however, know just why China is in this untenable position. If we had to select one data point with which to explain it all, it would be the following: just in the fourth quarter of 2013, Chinese bank assets rose from CNY147 trillion to CNY151.4 trillion, or, in dollar terms, an increase of almost exactly $1 trillion! Read more of this post

Show Your Work!: 10 Ways to Share Your Creativity and Get Discovered

Show Your Work!: 10 Ways to Share Your Creativity and Get Discovered Paperback

by Austin Kleon  (Author)

In his New York Times bestseller Steal Like an Artist, Austin Kleon showed readers how to unlock their creativity by “stealing” from the community of other movers and shakers. Now, in an even more forward-thinking and necessary book, he shows how to take that critical next step on a creative journey—getting known. Read more of this post

A Short Guide to a Happy Life: Anna Quindlen on Work, Joy, and How to Live Rather Than Exist

A Short Guide to a Happy Life: Anna Quindlen on Work, Joy, and How to Live Rather Than Exist
image002-5The commencement address is a special kind of modern communication art, and its greatest masterpieces tend to either become a book – take, for instance, David Foster Wallace on the meaning of lifeNeil Gaiman on the resilience of the creative spiritAnn Patchett onstorytelling and belonging, and Joseph Brodsky on winning the game of life – or have originated from a book, such as Debbie Millman on courage and the creative life. One of the greatest commencement speeches of all time, however, has an unusual story that flies in the face of both traditional trajectories. Read more of this post

Creativity, the Gift of Failure, and the Crucial Difference Between Success and Mastery

Creativity, the Gift of Failure, and the Crucial Difference Between Success and Mastery

“You gotta be willing to fail… if you’re afraid of failing, you won’t get very far,” Steve Jobs cautioned“There is no such thing as failure – failure is just life trying to move us in another direction,” Oprah counseled new Harvard graduates. In his wonderfully heartening letter of fatherly advice, F. Scott Fitzgerald gave his young daughter Scottie a list of things to worry and not worry about in life; among the unworriables, he listed failure, “unless it comes through your own fault.” And yet, as Debbie Millman observed in Fail Safe, her magnificent illustrated-essay-turned-commencement-address, most of us “like to operate within our abilities” – stepping outside of them risks failure, and we do worry about it, very much. How, then, can we transcend that mental block, that existential worry, that keeps us from the very capacity for creative crash that keeps us growing and innovating? Read more of this post

Philosopher Martha Nussbaum on How to Live with Our Human Fragility

Philosopher Martha Nussbaum on How to Live with Our Human Fragility

In 1988, Bill Moyers produced a series of intelligent, inspiring, provocative conversations with a diverse set of cultural icons, ranging from Isaac Asimov to Noam Chomsky to Chinua Achebe. It was unlike any public discourse to have ever graced the national television airwaves before. The following year, the interviews were transcribed and collected in the magnificent tome Bill Moyers: World of Ideas (public library). But for all its evenness of brilliance, one conversation in the series stands out for its depth, dimension, intensity, and timelessness – that with philosopher Martha Nussbaum, one of the most remarkable and luminous minds of our time, who sat down to talk with Moyers shortly after the publication of enormously stimulating book The Fragility of Goodness: Luck and Ethics in Greek Tragedy and Philosophy.

Moyers begins by framing Nussbaum’s singular approach to philosophy and, by extension, to the art of living:

MOYERS: The common perception of a philosopher is of a thinker of abstract thoughts. But stories and myths seem to be important to you as a philosopher. NUSSBAUM: Very important, because I think that the language of philosophy has to come back from the abstract heights on which it so often lives to the richness of everyday discourse and humanity. It has to listen to the ways that people talk about themselves and what matters to them. One very good way to do this is to listen to stories. Read more of this post

Show Your Work: Austin Kleon on the Art of Getting Noticed

Show Your Work: Austin Kleon on the Art of Getting Noticed
image002-1In 2012, artist Austin Kleon gave us Steal Like an Artist, a modern manifesto for combinatorial creativity that went on to become one of the best art books that year. He now returns with Show Your Work! (public library) – “a book for people who hate the very idea of self-promotion,” in which Kleon addresses with equal parts humility, honesty, and humor one of the quintessential questions of the creative life: How do you get “discovered”? In some ways, the book is the mirror-image of Kleon’s debut – rather than encouraging you to “steal” from others, meaning be influenced by them, it offers a blueprint to making your work influential enough to be theft-worthy. Complementing the advice is Kleon’s own artwork – his signature “newspaper blackout” poems – as a sort of meta-case for sharing as a modern art that requires courage, commitment, and creative integrity. Read more of this post

Germany’s Mittelstand Companies: Can Asia Share Their Success?

10/02/2014

GERMANY’S MITTELSTAND COMPANIES: CAN ASIA SHARE THEIR SUCCESS?

DR. HOLLY CLAUDIA OTT

The term Mittelstand loosely translates to “middle class” in German, and the Mittelstand companies in Germany are typically family-run, export-oriented businesses which achieve high efficiencies through a focused business model. This approach has been very successful: some 1,300 Mittelstand enterprises have carved out world-leading positions in their chosen niches. Read more of this post

Politics in India’s states: Elections in India are merry-go-rounds, not two-horse races

Politics in India’s states: Elections in India are merry-go-rounds, not two-horse races

Mar 15th 2014 | DELHI AND KOLKATA | From the print edition

A FICKLE lot, revolutionaries. Three years ago Anna Hazare, an ageing Gandhian populist, drew immense crowds to Ramlila Maidan, a big park in Old Delhi. Such was the righteous fervour of the public for his fasts and anti-graft campaign that many talked excitedly of upending national politics and even of changing the constitution. “Anna is India, India is Anna” throngs of white-capped supporters chanted. On March 12th Mr Hazare was due back at his old stamping-ground in Delhi. He cried off at the last moment, after the crowds failed to show up. What began as agitation is ending as farce. Read more of this post

IFRS could be stripped of accountancy watchdog role

IFRS could be stripped of accountancy watchdog role

There are concerns about transparency and governance at the accounting authority

image001-1

Sharon Bowles, chairwoman of the European Parliament Economic Affairs Committee, has raised “serious concerns” about the governance of the IFRS Foundation

By Louise Armitstead, Chief Business Correspondent

9:44PM GMT 15 Mar 2014

The International Financial Reporting Standards (IFRS) Foundation’s role in governing global accounting rules is under threat after European politicians said they were questioning whether the authority was “best suited” to the position. Read more of this post

Malaysia Airlines Flight 370 hijacked for 9/11-type terror attack in India?

Malaysia Airlines Flight 370 hijacked for 9/11-type terror attack in India?

by Neha Attre

Last Updated: Sunday, March 16, 2014, 11:06

Zee Media Bureau/ Neha Attre
10:45 am: Uighur separatist movement behind disappearance of jet?
The Malaysian authorities are now looking at an email sent by a 35-year-old man from Uighur, China’s troubled autonomous Muslim province, who was also flying on the Malaysia airlines flight, ANI reported.  Read more of this post

Walmart China loses customer confidence

Walmart China loses customer confidence

Staff Reporter

2014-03-16

After 40 years in China, Walmart, the world’s retailing giant, is facing a crisis of trust in the market, due to its failure to keep up consistent quality of service and its perfunctory responses to customer complaints. Read more of this post

In A Changing Financial World, Thinknum Wants To Democratize Financial Analysis

In A Changing Financial World, Thinknum Wants To Democratize Financial Analysis

Posted 6 hours ago by Danny Crichton (@DannyCrichton)

One of the most important functions of any modern financial institution is conducting valuations. On Wall Street, this means developing financial models – projections of how a company will perform based on a set of assumptions. Get these models right, and suddenly you can make trades on public equities that bring in enormous profits. Blow it, and see billions of dollars evaporate. Read more of this post

Fallen Tiger, Shaken Dragon; Caging a tiger will not destroy a vampire: the Middle Kingdom remains deeply corrupt

MINXIN PEI

Minxin Pei is Professor of Government at Claremont McKenna College and a non-resident senior fellow at the German Marshall Fund of the United States.

MAR 14, 2014

Fallen Tiger, Shaken Dragon

CLAREMONT, CALIFORNIA – Less than 18 months after becoming General Secretary of the Chinese Communist Party, Xi Jinping is poised to cage the biggest political “tiger” – a corrupt top official – in the history of the People’s Republic. Although rumors of the imminent fall of former internal security chief Zhou Yongkang have been swirling for months, many observers remained unsure whether Xi would prosecute Zhou and thus break the party’s long-established unwritten rule of immunity for sitting or retired members of the Politburo Standing Committee. Read more of this post

35 and flat broke! Why 30-something high-flyers have zero savings and a mountain-load of debt

35 and flat broke!

Saturday, Mar 15, 2014

Sasha Gonzales

Her World

She’s 35, single and has worked for over a decade. She earns $5,000 a month and has no mortgage to worry about.

And yet Lisa*, a publishing executive, barely has any savings to her name. Read more of this post

Plans for auto hub in Malaysia

Updated: Saturday March 15, 2014 MYT 7:07:48 AM

Plans for auto hub in Malaysia

BY EUGENE MAHALINGAM

THE National Automotive Policy (NAP 2014) which was finally unveiled in January, has since set tongues wagging over some of the policies that were announced. Read more of this post

Is virus-inflated U.S. hog market bubble about to burst?

Is virus-inflated U.S. hog market bubble about to burst?

Fri, Mar 14 2014

By Theopolis Waters and Barani Krishnan

CHICAGO/NEW YORK (Reuters) – Fund managers and traders have chased hog prices on the Chicago Mercantile Exchange to record highs on fear of a deadly pig virus, but a market reversal is likely if government data in the next two weeks shows no major damage from the disease. Read more of this post

Hi-tech is hot but take care not to get burnt; The landscape is littered with tech deals that fell short

March 14, 2014 7:48 pm

Hi-tech is hot but take care not to get burnt

By Brooke Masters

The landscape is littered with tech deals that fell short

News this week overflowed with evidence that the appetite for groovy sounding technology companies is rising to heights not seen since the dotcom bubble of the late 1990s. Read more of this post

Protect the open web and the promise of the digital age; Much will be lost if fences are put up around our digital open plans

Last updated: March 14, 2014 10:10 pm

Protect the open web and the promise of the digital age

By Richard Waters

Much will be lost if fences are put up around our digital open plans, says Richard Waters

For all the drawbacks, it is not hard to feel nostalgic about the early days of the web. Surfing between slow-loading, badly designed sites on a dial-up internet connection running at 56 kilobits per second could be frustrating. No wonder it was known as the “world wide wait”. But the “wow” factor was high. There was unparalleled access to free news and information, even if some of it was deeply untrustworthy. Then came that first, revelatory search on Google, which untangled the online jumble with almost miraculous speed. Read more of this post

US relinquishes control of internet’s addressing system

March 14, 2014 11:40 pm

US relinquishes control of internet’s addressing system

By Richard Waters in San Francisco

The Obama administration said on Friday that it would give up control of the internet’s addressing system, marking one of its most significant responses yet to the international outcry over revelations of widespread US internet surveillance. Read more of this post

Social media becomes product test ground; Companies trade focus groups for social media

March 14, 2014 12:35 pm

Companies trade focus groups for social media

By Hannah Kuchler in San Francisco and Neil Munshi in Chicago

Social media is replacing the clipboard, the focus group and the pencil-chewing designer, as companies listen in on consumers’ conversations in the hope of creating the products they really want. Read more of this post

How to Delegate the Right Way; Executives Have a Lot on Their Plates; Disbursing Work Poorly Can Backfire

How to Delegate the Right Way

Executives Have a Lot on Their Plates; Disbursing Work Poorly Can Backfire

JOANN S. LUBLIN

Updated March 13, 2014 10:18 a.m. ET

Dumping work on colleagues can turn into a dumb idea. The work often comes back to you.

Stressed by huge workloads and pinched resources, executives must unload tasks to get things done. But to succeed, you must delegate effectively. The fine art of delegation involves figuring out the right associates, marching orders and feedback. Read more of this post

Aon CFO: Risk and Reinvention; Aon has completely shifted its business model; sold its insurance underwriting business and acquired two companies that turned Aon into a risk-management and human resources consulting giant

March 14, 2014, 6:27 AM ET

Aon CFO: Risk and Reinvention

AonAON +0.26% plc has completely shifted its business model and its nationality. The firm sold its insurance underwriting business and acquired two companies that turned Aon into a risk-management and human resources consulting giant. In 2012, it moved its headquarters to London from Chicago. That strategic shift has also changed the focus of Aon’s chief financial officer, Christa Davies. Aon’s business kicks off more than $1.5 billion in free cash flow a year. She says her mission is to get the best rate of return on that money. Read more of this post

How to Understand Alibaba Group’s Business Model

How to Understand Alibaba Group’s Business Model

JURO OSAWA

Updated March 15, 2014 4:53 a.m. ET

Alibaba Group Holding Ltd. dominates China’s e-commerce market, which by one measure is now the biggest in the world.

The best way to understand Alibaba is as a mix of Amazon.comAMZN +0.60% eBayEBAY +0.07% and PayPal with a dash of Google GOOG -1.37% thrown in, all with some uniquely Chinese characteristics. Read more of this post

How Hong Kong Lost the Alibaba IPO

How Hong Kong Lost the Alibaba IPO

Exchange, Chinese E-Commerce Giant Fell Out Over a Rule

ENDA CURRAN

Updated March 15, 2014 11:40 a.m. ET

HONG KONG—Alibaba Group Holding Ltd.’s planned listing in New York is a blow to Hong Kong’s stock exchange, which failed in an effort to change its rules so as to accommodate what could be one of the world’s biggest initial public offerings. Read more of this post

Asustek’s Dual-OS Devices Hit a Wall

Asustek’s Dual-OS Devices Hit a Wall

Shelves Plans For Transformer Book Duet TD300

EVA DOU And DON CLARK 

Updated March 14, 2014 12:43 p.m. ET

image001

Asustek Chairman Jonney Shih introduces the Transformer Book Duet TD300 at the 2014 Consumer Electronics Show in January. ASUSTeK Computer Read more of this post

How to Become a (Public Pension) Millionaire

How to Become a (Public Pension) Millionaire

In five states, an average full-career retiree receives a retirement income higher than his final salary.

ANDREW G. BIGGS

March 14, 2014 7:18 p.m. ET

Detroit and San Bernardino and Stockton, Calif. are in bankruptcy, and across the country the costs of maintaining pensions for city and state employees more than doubled to nearly $84 billion in 2011 from 2002. Yet the American Federation of State, County and Municipal Employees (Afscme) declares that public pensions are “modest,” noting that its average member “receives a pension of approximately $19,000 per year after a career of public service.” Read more of this post

China Broadcaster Targets Companies on Consumer-Rights Day; Nikon, Alibaba Accused of Service and Quality Issues During Prime-Time Show

China Broadcaster Targets Companies on Consumer-Rights Day

Nikon, Alibaba Accused of Service and Quality Issues During Prime-Time Show

LAURIE BURKITT

Updated March 15, 2014 9:06 p.m. ET

BEIJING—China’s powerful government-controlled television broadcaster took aim at Japanese camera company Nikon Corp. 7731.TO -4.09% on Saturday in its annual campaign to stamp out service and quality problems that stifle the country’s domestic consumption. Read more of this post

China’s official figures both understate and overstate inflation

China’s official figures both understate and overstate inflation

Mar 15th 2014 | HONG KONG | From the print edition

IS CHINA’S economy underheating? Not long ago, many people would have scoffed at the suggestion. The country is known for searing property prices, hot-money inflows and the steam escaping from its financial furnaces. The stock of outstanding credit, broadly defined, climbed to over 180% of GDP at the end of 2013, according to the central bank, and over 215%, according to an even broader measure by Fitch, a ratings agency. Read more of this post

Japan’s pension giant: Risk on; The world’s largest pension fund is changing the way it invests, with big consequences for the market

Japan’s pension giant: Risk on; The world’s largest pension fund is changing the way it invests, with big consequences for the market

Mar 15th 2014 | TOKYO | From the print edition

WHEN George Soros, a billionaire investor, met Shinzo Abe, the prime minister of Japan, at Davos in January, he hectored him about asset management. Japan’s massive public pension fund needed to take more risk, he reportedly told Mr Abe. With ¥128.6 trillion ($1.25 trillion) of assets, the Government Pension Investment Fund (GPIF) is the world’s biggest public-sector investor, outgunning both foreign rivals and Arab sovereign-wealth funds. Yet its mountain of money is run by risk-averse bureaucrats using an investment strategy not much more adventurous than stuffing bundles of yen under a futon. It keeps around two-thirds of assets in bonds, mostly of the local variety. Like an investing novice, it mostly follows indices passively, and hardly ventures abroad. Read more of this post

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