CJ CGV, Korea’s leading multiplex cinema operator, said it expects to be No. 5 in the global theater industry by the end of 2013

Blockbuster year puts CGV at No. 5 in world

Dec 24,2013

BY KIM JUNG-YOON [kjy@joongang.co.kr]

CGV, Korea’s leading multiplex cinema operator, said yesterday it expects to be No. 5 in the global theater industry by the end of 2013.  Read more of this post

“We shared the view that crisis awaits us next year and we need innovation to overcome it,” Samsung Group’s presidents agreed on the urgency of the conglomerate’s need to seek a fundamental change and innovate

Samsung presidents agree on need for fundamental change

Sohn Jae-gwon

2013.12.23 18:08:38

Samsung Group’s presidents and the Future Strategies Office, the group’s de facto controlling tower, agreed on the urgency of the conglomerate’s need to seek a fundamental change and innovate with respect to technologies and management system next year. According to group officials, about 400 presidents participated in an overnight workshop at Samsung Human Resources Development Center in Yongin, Gyeonggi Province, Monday, in which they brainstormed on such topics as “Mach management,” “extreme gap,” and “CSV.”  Read more of this post

Toyota to shift Thai output base to Indonesia

Toyota to shift Thai output base to Indonesia

The Jakarta Post/ANN
Karawang, Indonesia December 21, 2013 1:00 am

County president cites strong demand, growing middle-class as production of all-new Vios starts in West Java plant

Toyota Motor Manufacturing Indonesia (TMMIN) has started producing its all-new Vios at the company’s plant in Karawang, West Java, as it gradually moves its production base from Thailand to Indonesia. Read more of this post

Time to Address Corruption at Party Level in Indonesia

Time to Address Corruption at Party Level

By Pitan Daslani on 9:49 am December 24, 2013.
The biggest news that came out of Jakarta recently was not the detention of Banten Governor Ratu Atut Chosiyah in a bribery scandal that removed Akil Mochtar from the top position of Indonesia’s highest court. Such detentions are so common that they no longer make the news. Read more of this post

The declaration by the national audit agency on Monday that the 2008 Bank Century bailout cost the state a total of $611 million should push the country’s antigraft agency to intensify its probe into the scandal

Bank Century Case At Point of No Return

By Jakarta Globe on 10:35 am December 24, 2013.
The declaration by the national audit agency on Monday that the 2008 Bank Century bailout cost the state a total of Rp 7.43 trillion ($611 million), should push the country’s antigraft agency to intensify its probe into the scandal. Most importantly, the first announcement by the Supreme Audit Agency (BPK) that the state lost that much money should dispel any remaining doubts whether public funds had indeed been stolen and whether the bailout probe was politically motivated. Read more of this post

Indonesian politician blocks runway in air rage outburst

AFP | Mon, Dec 23 2013

Indonesian politician blocks runway in air rage outburst

JAKARTA – An Indonesian district chief got revenge on an airline that refused to let him board a full flight by sending officials to block the runway and stop the plane landing, authorities said Monday. Marianus Sae, head of Ngada district in the eastern island of Flores, wanted to get home quickly to Ngada from the city of Kupang on Timor island so that he could attend a meeting. Read more of this post

Indian mothers-in-law: Curse of the mummyji

Indian mothers-in-law: Curse of the mummyji

Dec 21st 2013 | DELHI | From the print edition

TIHAR jail in Delhi has a special wing just for her. Young women fear and revere her; their husbands seem crushed by her embrace. On television she is a sari-clad battle-axe. Books about her offer advice including: “Run, she is trying to kill you.” Read more of this post

India’s ‘Modi Wave’ May Lose Momentum

India’s ‘Modi Wave’ May Lose Momentum

As India prepares for national elections in May, what is being called the “Modi wave” seems almost unstoppable. Since naming Narendra Modi — the controversial chief minister of the state of Gujarat — as its prime ministerial candidate, the opposition Bharatiya Janata Party has consistently topped opinion polls. Modi’s BJP decimated the ruling Congress Party in recent state elections — a harbinger, many now believe, of the national outcome. Read more of this post

Almost Every Passenger On A Flight From Dubai To India Was Found Carrying 1 Kilo Of Gold

Almost Every Passenger On A Flight From Dubai To India Was Found Carrying 1 Kilo Of Gold

Tyler Durden on 12/23/2013 23:06 -0500

Submitted by Michael Krieger of Liberty Blitzkrieg blog,

Watching Indian bureaucrats attempt to halt more than one billion human beings’ desire for gold has been one of the more entertaining and pathetic stories of all of 2013. It is one that I have covered on many occasions, the latest being my post from earlier this month:  Gold Smuggling Increases 7x in India and Surpasses Illegal Drug Trade. Well it appears the trend continues, potentially at an accelerated rate, as we just learned that, incredibly, “almost every passenger on a flight from Dubai to Calicut was found carrying 1kg of gold.” As I have said many times in the past, if an Indian wants their gold, they will have their gold. Read more of this post

Tough choices for consumer-goods companies; Increasingly empowered consumers, rising yet volatile input prices, and tricky emerging markets mean global consumer-packaged-goods companies must rethink how they do business

Tough choices for consumer-goods companies

Increasingly empowered consumers, rising yet volatile input prices, and tricky emerging markets mean global consumer-packaged-goods companies must rethink how they do business. Here’s a guide.

December 2013 | byJim Brennan, Greg Kelly, and Anne Martinez

Over the past half century, the consumer-packaged-goods (CPG) industry has achieved enviable growth in both revenue and shareholder returns. At first blush, continued growth seems a sure thing—after all, the burgeoning economies of emerging-market countries are fueling an unparalleled boom in global consumption. And given that global CPG companies are selling more of their products to more people in more parts of the world, shouldn’t revenue growth—and, with it, healthy returns—be theirs for the taking? Read more of this post

Red Lobster Split Seen as Wrong Recipe to Boost Darden: Real M&A

Red Lobster Split Seen as Wrong Recipe to Boost Darden: Real M&A

Shareholders aren’t happy with Darden Restaurants Inc. (DRI)’s plan to sell or spin off Red Lobster, which doesn’t solve the biggest problem: finding more customers.

Darden, also the owner of Olive Garden and LongHorn Steakhouse, slid 3.5 percent last week after announcing it will separate the Red Lobster seafood chain. Raymond James Financial Inc. says a breakup won’t create much value for Darden, which is trading at a discount to most of its competitors. The plan falls short of activist investor Barington Capital Group LP’s proposals for a bigger shakeup, including ways to profit from its real estate. Starboard Value LP, which disclosed a stake in the company today, also said Darden’s proposal is inadequate. Read more of this post

Kanye Vuitton Jibe Shows Even Rich Balk at Luxury Prices

Kanye Vuitton Jibe Shows Even Rich Balk at Luxury Prices

Kim Kardashian might as well be naughty this Christmas, because even if she’s nice her fiancé is unlikely to shell out for a Louis Vuitton handbag. Rapper Kanye West, who gave reality TV star Kardashian a diamond ring worth millions to celebrate their engagement, told a U.S. radio show recently that Vuitton’s prices are “just too extreme.” The criticism by West, who has collaborated with the Paris-based label on products including a range of $1,000 sneakers, is a signal some luxury companies may be charging too much, turning off even the wealthiest clients. Read more of this post

Did Chipotle eat Red Lobster? How upscale fast-food chains like Chipotle upended casual dining.

Dec. 24, 2013, 7:16 a.m. EST

Did Chipotle eat Red Lobster?

How upscale fast-food chains like Chipotle upended casual dining.

By Quentin Fottrell

As casual dining chains like Red Lobster and Olive Garden struggle, customers are turning to upscale fast-food joints like Chipotle and Panera where they can eat and run – without having to ask for the check.

Just days after saying it would either spin off or sell its Red Lobster chain, Darden Restaurant Inc.(NYSE:DRI)   has an activist shareholder calling for a more dramatic breakup of the company, The Wall Street Journal reported last week . Darden’s fiscal second-quarter sales fell 4.6% to $2.05 billion: Same-store sales fell 0.6% at Olive Garden and 4.5% at Red Lobster. Chipotle Mexican Grill Inc.’s(NYSE:CMG)  most recent third-quarter sales, meanwhile, jumped 18% to $827 million; the company announced last week that it will also open a new chain called Pizzeria Locale. “Red Lobster and Olive Garden are really brands that are seen as old-fashioned,” says Julia Gallo-Torres, U.S. food service category manager at research firm Mintel. “They’ve really suffered postrecession.” Read more of this post

Investors should abandon long-term commodity bets

Investors should abandon long-term commodity bets

Guest writer | Dec 19 12:48 | 17 comments | Share

This guest post is from Mark Haefele, Global Head of Investment at UBS Wealth Management, and his colleague Chris Wright, Cross-Asset Strategist.

A key rule in financial markets is that rational investors should not take unnecessary risks. It is strange, then, that some savvy investors still allocate to commodities over a long-term, five-year-plus horizon. The assumption is that commodities diversify portfolios, hedge against inflation, and, in the case of gold, offer a safe store of value. But our research suggests these justifications for long-term bets on commodities are illusory. Read more of this post

Thailand’s Disloyal Opposition; The Democrats pursue power by making the country ungovernable

Thailand’s Disloyal Opposition

The Democrats pursue power by making the country ungovernable.

Is Thailand heading for civil war? The question may seem overly dramatic, but the decision of the opposition Democrat Party to boycott the Feb. 2 general election makes resolution of the struggle between the royalist Democrats and supporters of Prime Minister Yingluck Shinawatra nearly impossible. Protest leader Suthep Thaugsuban vowed Sunday to hound Ms. Yingluck until she dies or steps down, and he ordered his supporters to block registration of candidates. Read more of this post

Business-political connections can backfire

Business-political connections can backfire

Business Desk
The Nation December 23, 2013 1:00 am

Since all Thais were given the vote 81 years ago, few business clans have established a direct involvement in politics. Khunying Kalaya Sophonpanich is one exception to this rule. From the Tejapaibul family, there is Pornthep. Nuanphan Lamsam also briefly got into politics. Their surnames speak volumes about what they represent. Wherever they go and whatever they do, they remind the public of their families.

Read more of this post

Singapore government decides not to interfere with Bitcoin

Singapore government decides not to interfere with Bitcoin

December 23, 2013

by Terence Lee

The Monetary Authority of Singapore (MAS), the country’s central bank, has decided not to intervene on whether businesses can accept Bitcoin as a means of transacting goods and services. Read more of this post

Hotels in Myanmar: From generals to general managers

Hotels in Myanmar: From generals to general managers

Dec 21st 2013 | YANGON | From the print edition

TO APPRECIATE the impact of the industrial hotel, fly an hour north-west of Bangkok to the industry’s new frontier—Myanmar. On the roof of the Asia Plaza, a decrepit Soviet-style hotel, a modern day plongeur in a singlet bemoans his fate. His wage of $50 a month “is not enough to feed my family”, he laments. A pal says the only worse job he has had was in a karaoke-and-sex club run for the pleasure of army officers during the years of brutal military dictatorship. Read more of this post

CIMB chief warns of commercial property bubble in KL

PUBLISHED DECEMBER 24, 2013

CIMB chief warns of commercial property bubble in KL

He calls on govt not to embark simultaneously on its massive projects

PAULINE NG

IN KUALA LUMPUR

CIMB group chief executive Nazir Razak suggested that the government reconsider the mammoth supply of commercial space in Kuala Lumpur to prevent an oversupply – PHOTO: BLOOMBERG

AS government strategic development agency 1MDB stepped up its investment pitch for the new Tun Razak Exchange (TRX) financial district to investors last week, CIMB group chief executive Nazir Razak suggested that the government reconsider the mammoth supply of commercial space in Kuala Lumpur to prevent an oversupply. Read more of this post

Will 2013 Go Down as the Year The United States Lost China?

Will 2013 Go Down as the Year The United States Lost China?

By Noah Feldman on 10:59 am December 24, 2013.

Having spent two days getting to know each other in Sunnylands, California, in June, Presidents Xi Jinping of China and Barack Obama of the United States sent each other Christmas gifts this year. Obama sent a B-52 bomber through airspace that China claims as its own; Xi then sent a ship from his new carrier group to cut a dangerous 180 meters in front of an American cruiser. Cool war heating up much? Read more of this post

Utilities Mimic Cable With Monthly Fee to Preserve Grid

Utilities Mimic Cable With Monthly Fee to Preserve Grid

U.S. utilities are starting to charge customers just for hooking up to power lines as they seek to collect $2 trillion over the next two decades to maintain their electricity grids in a shrinking market. Read more of this post

Supersize My Wage

December 17, 2013

Supersize My Wage

By ANNIE LOWREY

About 20 years ago, in the midst of a recession, New Jersey decided to boost its minimum wage to $5.05 an hour from $4.25. Its neighbor to the west, Pennsylvania, chose not to tinker with its wage floor. Two bright young economists at Princeton, David Card and Alan B. Krueger, recognized in that dull occurrence a promising natural experiment. Read more of this post

Solo French Startups Face Curbs as Hollande Heeds Lobbies

Solo French Startups Face Curbs as Hollande Heeds Lobbies

Helga Lemierre’s work as an independent translator provides enough money to cover the mortgage on her home in Grenoble, near the French Alps, while letting her be available for her two daughters. She’s concerned those days may be over. Read more of this post

Investors push companies to flex M&A muscle … carefully

Investors push companies to flex M&A muscle … carefully
Tuesday, December 24, 2013
By Simon Jessop and Anjuli Davies, Reuters

LONDON–Investors have received billions of euros from European companies so cautious about the economic outlook they could find nothing better to do with spare cash, but many now want boards to snap up rivals instead — and are rewarding them when they do. Read more of this post

If Germany Doesn’t Bend, Europe May Break

If Germany Doesn’t Bend, Europe May Break

Angela Merkel, speaking to the German parliament at the start of her third term as chancellor, said last week that “Germany will only be strong in the long term if Europe is strong.” If only she were prepared to act on that insight. Read more of this post

How To Steal Bitcoins In Three Easy Steps

How To Steal Bitcoins In Three Easy Steps

Tyler Durden on 12/21/2013 18:58 -0500

Over the past several months, Bitcoins have soared in popularity, acceptance and price. Naturally, it was only a matter of time before Bitcoin crime followed. As reported here previously, earlier this month, the largest heist in the history of Bitcoin was pulled off when the illegal drug bazaar Sheep Marketplace was plundered, either by hackers or insiders, and about $100 million worth of the currency was stolen from customers. Read more of this post

How Do You Solve a Problem Like Fannie? With $3.3 trillion in assets, the mortgage giant ought to be a ‘systemically important financial institution.’

How Do You Solve a Problem Like Fannie?

With $3.3 trillion in assets, the mortgage giant ought to be a ‘systemically important financial institution.’

ALEX J. POLLOCK

Dec. 23, 2013 7:17 p.m. ET

While Congress has reached an agreement on the federal budget, consensus on housing policy continues to elude lawmakers. Despite lengthy and extensive efforts, there’s no agreement on how to reform the failed mortgage giants Fannie Mae FNMA +1.29% andFreddie Mac. FMCC +1.34% Read more of this post

High Cost of Low Prices for the Fed

High Cost of Low Prices for the Fed

JUSTIN LAHART

Dec. 23, 2013 12:51 p.m. ET

The Federal Reserve has two things on its wish list for 2014: A better job market and more inflation. It looks likely that it will get the first. The second is less certain. Read more of this post