John Lewis lauded for caring capitalism

March 17, 2014 7:03 pm

John Lewis lauded for caring capitalism

By Andrea Felsted, Senior Retail Correspondent

When it comes to the mutual model, one of the most successful examples is in retail.

The John Lewis Partnership, which owns John Lewis department stores and Waitrose supermarkets, has been lauded as both a successful retailer and a model for caring capitalism. Read more of this post

Twitter’s Costolo in China fact-finding visit; Mr Costolo will meet Shanghai government officials on his first trip to China, where the San Francisco-based messaging site has been banned since 2009

March 17, 2014 5:35 am

Twitter’s Costolo in China fact-finding visit

By Hannah Kuchler in San Francisco

One of Silicon Valley’s most prominent chief executives embarked on a pilgrimage to China on Monday, highlighting the increasing importance of the country’s large and vibrant internet sector. Read more of this post

YouTube taps fast-growing Saudi Arabia interest; Google-owned video network to develop more Arabic content

March 17, 2014 12:29 pm

YouTube taps fast-growing Saudi Arabia interest

By Simeon Kerr in Dubai

Google has launched a campaign to develop online videos in the fast-growing market of Saudi Arabia, where residents watch more hours of YouTube content per capita than anywhere else in the world. Read more of this post

China bond default has positive effect on local government groups

March 17, 2014 3:15 pm

China bond default has positive effect on local government groups

By Simon Rabinovitch in Shanghai

It looks like a colossal accident waiting to happen: China’s first true bond default has laid bare the country’s financial risks just as $400bn in debt comes due this year for cash-strapped local governments. Read more of this post

Corporate storytellers are best left on the shelf; What starts as a way to guide and motivate people becomes a plot from which bosses cannot escape

March 17, 2014 4:17 pm

Corporate storytellers are best left on the shelf

By Andrew Hill

What starts as a way to guide and motivate people becomes a plot from which bosses cannot escape

Once upon a time, a worried manager realised staff were ignoring his instructions. He paid a handsome fee to sages and soothsayers, who advised him to use a compelling tale to season the facts and figures he wanted his team to digest. And so, business storytelling was born and spread throughout the land. Read more of this post

Start-ups with an Apple flavour

March 17, 2014 4:23 pm

Start-ups with an Apple flavour

By Tim Bradshaw

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Tim Bucher, who worked on Macintosh engineering at Apple, is about to start selling Lyve, his online storage system

Steve Jobs hurled many abusive names at Andy Grignon during his six years at Apple. Mr Grignon internalised the criticism to such an extent that he even had one particularly offensive name printed on his business card there. Read more of this post

The ice-cream cone, one of the most brilliantly designed products in history, is losing its battle with the boring tub

March 17, 2014 6:24 pm

Save the cone

By Brian Groom

How can this happen? The ice-cream cone, one of the most brilliantly designed products in history, is losing its battle with the boring tub. According to Kantar Worldpanel, sales of cones or cornets in the UK fell 5.5 per cent last year despite a 6.9 per cent rise in overall ice-cream sales. Tubs of luxury ice cream to be eaten at home are leading the market. Read more of this post

The sun never sets on Eton’s empire; Controversy over the school reflects the increasing polarisation between rich and poor

March 17, 2014 6:24 pm

The sun never sets on Eton’s empire

By Brian Groom

Controversy over the school reflects the increasing polarisation between rich and poor

In class-conscious Britain no word has such resonance as “Eton”. Old Etonian actor Dominic West, star of US television series The Wire, once said that being a former pupil of the world’s most famous fee-paying boys’ boarding school carried “a stigma that is slightly above ‘paedophile’ in the media in a gallery of infamy”. Read more of this post

How wars can be started by history textbooks; The imposition of an authorised version of events turns education into brainwashing

Last updated: March 17, 2014 6:32 pm

How wars can be started by history textbooks

By Gideon Rachman

The imposition of an authorised version of events turns education into brainwashing

image002-9©Ingram Pinn

When political leaders start rewriting the past, you should fear for the future. In Russia, Hungary, Japan and China, recent politically sponsored efforts to change history textbooks were warning signs of rising nationalism. Read more of this post

Just Eat, the online takeaway food service, is expected to achieve a valuation in the range of £700m to £900m

Last updated: March 17, 2014 8:28 pm

Just Eat joins growing queue of London IPOs

By Andy Sharman and Sally Davies

Just Eat has confirmed its intention to join the swelling ranks of companies lining up to float in London.

The online takeaway food service, which is expected to achieve a valuation in the range of £700m to £900m, on Monday said it planned to raise £100m and list on either the main market or the London Stock Exchange’s High Growth Segment, designed to lure entrants from the capital’s flourishing start-up scene. Read more of this post

China admits its ills but faces an unpalatable cure

March 17, 2014 6:13 pm

China admits its ills but faces an unpalatable cure

By Minxin Pei

Beijing can either prop up ailing borrowers or allow them to fail, writes Minxin Pei

Finally, Chinese leaders have admitted what the market has been saying for some time: defaults by Chinese borrowers are all but inevitable, possibly on a significant scale. Responding to questions at a news conference last week, Li Keqiang, the Chinese premier, admitted that “isolated cases of default will be unavoidable”. Read more of this post

How the universe cast its oldest light on its oldest secret; Scientists offer clues to how the Big Bang made something out of nothing

March 17, 2014 6:37 pm

How the universe cast its oldest light on its oldest secret

By Anjana Ahuja

Scientists offer clues to how the Big Bang made something out of nothing, writes Anjana Ahuja

Fourteen billion years ago, within a monstrously energetic, infinitesimally small fraction of a second, nothingness exploded into everything. For decades, scientists have been scouring deep space for gravitational echoes of the Big Bang, in an attempt to prove key features of the only credible explanation for the origin of the universe. Read more of this post

Low-priced fashion retailer Forever 21 Inc. opened its first store in Brazil this past weekend, causing a stir among the country’s price-sensitive shoppers who lined up for seven hours to buy $4 tank tops

In Brazil, the Long Wait for Fast Fashion

LORETTA CHAO

Updated March 17, 2014 7:52 p.m. ET

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Hundreds of shoppers waited to enter Brazil’s first Forever 21 store. Loretta Choa/The Wall Street Journal

SÃO PAULO, Brazil—Low-priced fashion retailer Forever 21 Inc. opened its first store in Brazil this past weekend, causing a stir among the country’s price-sensitive shoppers who lined up for seven hours to buy $4 tank tops and other trendy items priced far below competitors. Read more of this post

‘Knowledge and Power’ by George Gilder; Economists as far back as Adam Smith have undervalued entrepreneurs-the restless, inventive, job-creating engines of the economy

Book Review: ‘Knowledge and Power’ by George Gilder

Economists as far back as Adam Smith have undervalued entrepreneurs—the restless, inventive, job-creating engines of the economy.

MATTHEW REES

March 17, 2014 7:50 p.m. ET

Businesses can succeed in two ways. They can improve upon the stock of existing goods and services, or they can offer something new and different. The second course creates more value but faces more obstacles, as Henry Ford is said to have put it: “If I had listened to my customers, I would have built a faster horse.” Steve Jobs said something similar decades later: “It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.” Read more of this post

Success Outside the Dress Code: The subtle cues that help nonconformists break from the pack and thrive; Power of sweatpants

Success Outside the Dress Code

The subtle cues that help nonconformists break from the pack and thrive; Power of sweatpants

SHIRLEY S. WANG

March 17, 2014 7:13 p.m. ET

Even though humans are wired to conform and be part of a group, being a nonconformist can sometimes increase a person’s status and perceived competency. Shirley Wang reports on Lunch Break. Photo: Videoblocks. Read more of this post

‘Big Data’ Doesn’t Yield Better Loans; Consumer Group Says Crunching Such Numbers Doesn’t Make a Big Difference; Lenders Disagree

‘Big Data’ Doesn’t Yield Better Loans

Consumer Group Says Crunching Such Numbers Doesn’t Make a Big Difference; Lenders Disagree

ELIZABETH DWOSKIN

Updated March 17, 2014 11:19 p.m. ET

Can “Big Data” really help write a better loan?

That is a timely question, as startups backed by big Silicon Valley names employ big-data techniques to offer short-term, small-dollar loans. The companies want to reach the 68 million Americans who the Federal Deposit Insurance Corp. says struggle to get loans because they have either no credit history or a poor credit history. Read more of this post

New Pain Treatment Uses Ultrasound at Home; New devices let patients treat their pain with ultrasound almost anywhere and for longer periods

New Pain Treatment Uses Ultrasound at Home

New devices let patients treat their pain with ultrasound almost anywhere and for longer periods

LAURA JOHANNES

March 17, 2014 6:19 p.m. ET

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ZetrOZ’s Sam device, which shows how much battery power is left. ZetrOZ, Inc.

The Ache: Ultrasound energy is widely used by physical therapists and other clinicians to treat sports injuries and chronic pain. But because the machines are hand-held, treatment is generally limited to 15 minutes or less. Some scientists think longer treatments will be more effective. Read more of this post

Jack Daniel’s Faces a Whiskey Rebellion; Diageo Presses to Relax Rules on What Makes a ‘Tennessee Whiskey’

Jack Daniel’s Faces a Whiskey Rebellion

Diageo Presses to Relax Rules on What Makes a ‘Tennessee Whiskey’

MIKE ESTERL

Updated March 17, 2014 7:34 p.m. ET

A feud has erupted among distillers over a seemingly simple question: When is a whiskey “Tennessee Whiskey”? Read more of this post

Wharton Names New Dean; Garrett, of Australian School of Business, to Succeed Robertson as Elite B-School Faces Challenges

Wharton Names New Dean

Garrett, of Australian School of Business, to Succeed Robertson as Elite B-School Faces Challenges

MELISSA KORN

Updated March 17, 2014 7:55 p.m. ET

The University of Pennsylvania’s Wharton School surprised many with its choice for a new dean, as the elite business school fights to remain in the very highest echelon of M.B.A. programs. Read more of this post

France Has a Formula for China’s Baby-Milk Needs

France Has a Formula for China’s Baby-Milk Needs

Plant Under Construction in Brittany Fills Supply Gap While Bolstering Farms

RUTH BENDER

March 17, 2014 5:19 p.m. ET

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Synutra CEO Liang Zhang, left, and Carhaix Mayor Christian Troadec in January. Zuma Press

CARHAIX, France—Mayor Christian Troadec is trying a new formula to revive his sleepy town in central Brittany: quenching Chinese thirst for baby milk. Read more of this post

Chinese Companies Caught in Yuan Riptide; Bets by Firms and Individuals on a Rise in Currency Face Losses as Country Changes Tack

Chinese Companies Caught in Yuan Riptide

Bets by Firms and Individuals on a Rise in Currency Face Losses as Country Changes Tack

ANJANI TRIVEDI

Updated March 17, 2014 11:14 p.m. ET

China’s yuan weakened against the U.S. dollar Monday after the central bank doubled the currency’s daily trading band. The WSJ’s Jake Lee talks to CIBC’s Asia strategist about the effects this move will have on the yuan. Read more of this post

Chinese Property Developer Zhejiang Xingrun Defaults on $400M Bank Loans; The default is unusually large for a developer in one of China’s most affluent regions

Chinese Property Developer Zhejiang Xingrun Defaults on Bank Loans

Default Is Unusually Large for Developer in Affluent Region of China

DINNY MCMAHON and ESTHER FUNG

March 17, 2014 10:59 p.m. ET

BEJIING—Zhejiang Xingrun Real Estate Co., a property developer based in a small city south of Shanghai, is unable to repay almost $400 million worth of bank loans, a person at the local government financial affairs office said Tuesday. Read more of this post

South Korea’s Governors of Northern Provinces Don’t-And Never Will-Govern

South Korea’s Governors of Northern Provinces Don’t—And Never Will—Govern

Appointed Officials Have Perks and Offices but Don’t Enter the North

ALASTAIR GALE and KWANWOO JUN

Updated March 17, 2014 10:32 p.m. ET

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Park Kee-jung, shown in his office, was appointed governor of North Hamgyong Province in North Korea’s northeast last year. Kwanwoo Jun/The Wall Street Journal Read more of this post

Venture Money Flows Into Hardware Startups; From Jawbone to Roku, U.S. Investors Pump $848 Million Into Consumer-Electronics Makers

Venture Money Flows Into Hardware Startups

From Jawbone to Roku, U.S. Investors Pump $848 Million Into Consumer-Electronics Makers

DAISUKE WAKABAYASHI

Updated March 17, 2014 4:47 p.m. ET

A hardware startup is still hard, but it is getting a little easier.

The growing availability of 3-D printers and starter kits with easy-to-program circuit boards makes it simpler and cheaper to produce prototypes. Contract manufacturers stand ready to handle mass production and unravel supply-chain tangles. New fundraising techniques help entrepreneurs get started and test demand. Read more of this post

For Chinese Reform, It’s Private Banks or Bust

For Chinese Reform, It’s Private Banks or Bust

Rate liberalization cannot occur until there is more privatization in banking.

DEREK SCISSORS

March 17, 2014 11:13 a.m. ET

The annual meetings of China’s National People’s Congress this month offered two main signals about reform under President Xi Jinping. First, the battle has been joined in finance between the market’s decisive role and the state’s dominant role. Second, there is no battle outside finance—the status quo of state dominance was otherwise left almost entirely unscathed. Read more of this post

As email threats multiply, funds pick up Proofpoint

As email threats multiply, funds pick up Proofpoint

2:46pm EDT

By David Randall

NEW YORK (Reuters) – The last time email could be called a sexy business, Facebook founder Mark Zuckerberg was celebrating his tenth birthday. Yet Proofpoint Inc, a $1.6 billion market cap email security company, is catching the eye of fund managers by gaining share in a market that many investors have left for dead. Read more of this post

Weibo’s Worth Is Hard to Pin Down

Weibo’s Worth Is Hard to Pin Down

AARON BACK

March 17, 2014 9:03 a.m. ET

Is Weibo worth more than investors think? That is the case that Sina must make to justify a spinoff of China’s Twitter TWTR +0.25% -like microblog.

Sina is already publicly listed and its stake in Weibo makes up the bulk of its market value. So management must believe Weibo is undervalued by the market, and that a listing can unlock value. Read more of this post

Auditors must be rotated more often, ASIC (Australian Securities and Investments Commission) warns

Auditors must be rotated more often, ASIC warns

March 18, 2014

Georgia Wilkins

Corporate governance groups say there is not enough rotation of auditors at the country’s top companies and call for greater transparency in the relationship between boards and their external reviewers. Read more of this post

Macquarie Group is selling its private equity funds management division, ending its role as Australia’s largest and oldest private equity investor.

Macquarie Group selling private equity division

March 18, 2014 – 7:53AM

Sarah Thompson and Anthony MacDonald

Macquarie Group is selling its private equity funds management division, ending its role as Australia’s largest and oldest private equity investor, reports The Australian Financial Review. Read more of this post

Rachel “Bunny” Mellon, the Listerine fortune heiress, died at 103 years old; “She worked quietly behind the scenes for many years to support horticulture and the arts. She leaves behind a meaningful legacy.”

Rachel ‘Bunny’ Mellon, arts patron and confidante of Jackie Kennedy, dies at 103

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View Photo Gallery — Kennedy confidante and arts patron Rachel ‘Bunny’ Mellon dies: Rachel “Bunny” Mellon, a close friend of Jacqueline Kennedy Onassis who redesigned the White House Rose Garden, died at age 103. Read more of this post

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