The enigma of Westfield ownership; Next time you pop into a Westfield, think who owns it. The Lowys? Maybe not

The enigma of Westfield ownership

June 11, 2014

David Potts

Next time you pop into a Westfield, think who owns it.

The Lowys? That’s what I would have said, too. Not that there’s any doubt they pull the strings, but they have a surprisingly small shareholding.
The malls are owned by two Westfields – the company and a passive property trust – which spreads the shareholders around and is why a small shareholding can have such clout. Especially when held by a Lowy. Read more of this post

Ripples spread from China metals probe

June 12, 2014 4:56 pm

Ripples spread from China metals probe

By Xan Rice in London and Lucy Hornby in BeijingAuthor alerts

The port city in northeastern China is famous for its Tsingtao brewery that was founded more than a century ago with 400,000 Mexican silver dollars as capital. But in recent years, Qingdao – the beer’s name is an older spelling – has been attracting other types of metal. As Chinese traders’ appetite for cheap forex funding has increased, piles of copper and aluminium used as loan collateral have accumulated in dockside warehouses. Read more of this post

In a rare interview, the president of China Merchants Bank describes strategic plans and changing with the times

06.12.2014 13:41

Tian Huiyu: Navigator for Banking’s Next Era

In a rare interview, the president of China Merchants Bank describes strategic plans and changing with the times

By staff reporters Hu Shuli, Ling Huawei, Wuhong Yuran and Lin Jinbing

Since taking the helm at China Merchants Bank about a year ago, bank President Tian Huiyu has done a lot more than steer.

Tian has been navigating through a changing environment for China’s banking industry and plotting a course for CMB’s future. He’s also lived up to his professional reputation in the banking sector as a focused leader who’s not afraid to take the initiative. Read more of this post

Research Affiliates: I’d Choose Emerging Markets, Wouldn’t You?

| June 2014

I’d Choose Emerging Markets, Wouldn’t You?

Ryan Larson

As the father of two girls under the age of six, I spend a lot of time reading children’s books. One of my daughters’ favorite characters is Clifford. For those of you who haven’t read these stories, Clifford isn’t just a Big Red Dog, he’s a REAL BIG DOG, the size of a house. An early book in the series covers some of Clifford’s obvious faults, mostly due to his being unaware of the effects of his massive size: he chases and catches cars, carries back a policeman thinking his baton is a stick, eats the shoe sign outside a shoe store, and devours a lot of cupcakes. Despite all his flaws, Clifford is dearly loved by Emily Elizabeth, the little girl who takes care of him. She says, “I’d choose Clifford, wouldn’t you?” Read more of this post

Behold the Burrito Bond: London high street fast food outlet Chilango , is offering an 8% coupon on a four-year corporate bond that gives some buyers a free burrito* every week for the lifetime of the debt

Jun 12, 2014

Behold the Burrito Bond

JOSIE COX

An advertisment for Chilango’s Burrito Bonds sits outside a branch of Chilango on Fleet Street, Central London, on June 12, 2014.

Bond bubble? What bond bubble? These bonds give out free burritos! Read more of this post

Missing Collateral a Sign of Weakness in China’s Financing Chains

Missing Collateral a Sign of Weakness in China’s Financing Chains

By JOHN FOLEY

JUNE 12, 2014 12:21 PM 1 Comments

Faith in metal-backed lending in China is corroding – and so is confidence in the country’s giant credit system. Authorities and banks, including Standard Chartered and Citic, are investigating whether traders at Qingdao port used the same lot of copper and aluminum to back multiple loans. Vanishing collateral isn’t a new problem, but could prove to be China’s weakest link. Read more of this post

Casino Owner Caesars Redefines Itself, but Still Has Mountain of Debt

Casino Owner Caesars Redefines Itself, but Still Has Mountain of Debt

By STEPHEN J. LUBBEN

JUNE 12, 2014 3:26 PM Comment

Caesars Entertainment, the owner of several casinos, is taking a page from the Dynegy playbook. That is not meant as a compliment.

Dynegy, you may recall, entered Chapter 11 after two failed mergers and some radical redesigning of its corporate structure. The redone structure was rather clearly intended to salvage something for shareholders. But the court-appointed bankruptcy examiner found that Dynegy had gone too far. Read more of this post

Bio pharm equities lose past glory on KOSDAQ

Bio pharm equities lose past glory on KOSDAQ

Kim Jan-di

2014.06.13 11:24:25

South Korea’s bio-pharmaceutical stocks are not faring well unlike they did in the past. Most of the KOSDAQ’s bio-pharm equities that were among top-ranked stocks by market cap three years ago are no longer placed where they used to be.  Read more of this post

What would King Sejong do? ‘When the country was hit by famine, [King Sejong] went to meet the peasants and hear their voices.’

What would King Sejong do?

‘When the country was hit by famine, [King Sejong] went to meet the peasants and hear their voices.’

June 13,2014

Dr. Park Hyun-mo, who served as the Director of the Sejong Leadership Institute at the Academy of Korean Studies until last month, has been studying King Sejong for 13 years. He said that his lifetime academic achievement is to bring King Sejong out of the Annals of the Joseon Dynasty (1392-1910). The book he published eight years ago is titled “King Sejong’s Royal Walk Out of the Annals.”  Read more of this post

Remember the Problems With Mortgage Defaults? They’re Coming Back With Student Loans

Remember the Problems With Mortgage Defaults? They’re Coming Back With Student Loans

JUNE 12, 2014

Susan Dynarski

Student loans, along with mortgages and car loans, have become one of the three largest sources of credit, exceeding credit-card debt. This growth in student debt appears to have caught regulators unprepared. Compared with mortgages, auto loans and credit cards, student loans are loosely regulated. And, in the case of student loans, regulatory weakness is particularly threatening to consumers, since they can’t discharge their debts through bankruptcy and escape lenders who are causing them harm. Read more of this post