The west is losing faith in its own future; Living standards are even under pressure in countries that have done relatively well

December 9, 2013 5:13 pm

The west is losing faith in its own future

By Gideon Rachman

Living standards are even under pressure in countries that have done relatively well

What defines the west? American and European politicians like to talk about values and institutions. But for billions of people around the world, the crucial point is simpler and easier to grasp. The west is the part of the world where even ordinary people live comfortably. That is the dream that makes illegal immigrants risk their lives, trying to get into Europe or the US. Read more of this post

The Poor Are Squeezed as Rental Housing Demand Soars

December 9, 2013

The Poor Are Squeezed as Rental Housing Demand Soars

By ANNIE LOWREY

WASHINGTON — Violeta Torres cannot afford her apartment. Ms. Torres, a 54-year-old nanny, pays $828 a month for a rundown one-bedroom that she keeps spotlessly clean, making the rent by letting an acquaintance sleep on a mattress in the living room for about $400 a month. But her one-bedroom happens to be in the booming neighborhood of Columbia Heights, where such an apartment, once renovated, would easily command twice the price. Read more of this post

Sky-High Stocks: A Split Decision?

Dec 6, 2013

Sky-High Stocks: A Split Decision?

JASON ZWEIG

Stock splits have gone Splitsville.

So far this year, only 11 companies in the S&P 500 index have “split” their shares—the fourth-lowest number on record and down from an average of nearly 65 a year in the 1990s, according to Howard Silverblatt, a senior analyst at S&P Dow Jones Indices. In a stock split, a company increases the number of shares you hold while lowering the price accordingly. A 2-for-1 split, for instance, would turn one share of a $100 stock into two shares worth $50 apiece. Read more of this post

In Bankruptcy, Detroit Curses the Darkness

In Bankruptcy, Detroit Curses the Darkness

Nearly Half City’s 88,000 Lights Are Broken; New Authority Plans to Borrow Funds to Revamp System

MATTHEW DOLAN

Dec. 8, 2013 6:50 p.m. ET

Almost half of the 88,000 streetlights in Detroit are out. And the bankrpt city is desperate to raise funds to repair them. WSJ’s Matthew Dolan reports.

DETROIT—On Harper Avenue, along a busy but dimly lighted commercial strip of shops and corner bars, James Jennings checked one street lamp after another, searching for one he could fix. Read more of this post

Challenging time ahead with no all plain sailing for REITs

Updated: Monday December 9, 2013 MYT 10:07:36 AM

Challenging time ahead with no all plain sailing for REITs

PETALING JAYA: Although local real estate investment trust (REIT) players can breathe a sigh of relief as they have been spared from the rather tough budget measures on the property sector, the coast is not all clear for the 16 REITS just yet. Read more of this post

Borders Raise Hurdles For Baltic High-Speed Rail Link; Snags to Fast-Train Project Underscore Challenges to EU Rail Push to Boost Growth

Borders Raise Hurdles For Baltic High-Speed Rail Link

Snags to Fast-Train Project Underscore Challenges to EU Rail Push to Boost Growth

FRANCES ROBINSON And LIIS KÄNGSEPP

Dec. 8, 2013 7:39 p.m. ET

TALLINN, Estonia—A high-speed rail project linking the three Baltic states embodies the economic hopes the European Union has placed on the fast-train technology. It also exemplifies one of high-speed’s biggest hurdles: national borders. Read more of this post

From Robbers to Vendors, Swedes Brace for Cashless Future

From Robbers to Vendors, Swedes Brace for Cashless Future

By Anna-Karin Lampou on 2:27 pm December 8, 2013.
vendor selling ‘Situation’, a Stockholm paper sold by the homeless to help raise funds, wears a sign reading ‘we take cards’ on Oct. 23, 2013 in Stockholm. (AFP Photo/Anna-Karin Lampou)

Stockholm. Peter, 55 years old and homeless, is standing at a Stockholm supermarket, carrying the two objects that help him make a living: a stack of magazines and a debit card reader. Read more of this post

Ken Fisher: I can’t wait for monetary stimulus to end

November 29, 2013 6:44 pm

I can’t wait for monetary stimulus to end

By Ken Fisher

QE has been a massive drain on the economy

Every time the stock market falls, I read that it’s because investors fear higher interest rates. This is just such rot. Why would they fear rising long-term rates? Higher rates are supply-side monetary stimulus – which is just what the world needs now, after five years of the evil twin, demand-side monetary stimulus. Read more of this post

From Iron Ore to Eggs, Asia Builds Commodity Pricing Clout

From Iron Ore to Eggs, Asia Builds Commodity Pricing Clout

By Manolo Serapio Jr & Melanie Burton

 on 1:54 pm December 4, 2013.
Singapore. From iron ore to eggs, Asia’s new commodity derivatives are drawing in global exchanges eager to profit from rising trade volumes and a likely shift of pricing benchmarks from the West. Read more of this post

China’s currency controls: The central bank takes a modest step toward financial liberalisation

China’s currency controls: The central bank takes a modest step toward financial liberalisation

Dec 7th 2013 | SHANGHAI | From the print edition

FINANCIAL reform is coming to China. The country’s leadership has made clear through recent pronouncements that it intends to liberalise the country’s capital account and take other measures to increase the role of market forces in the financial system. That has set off a flurry of speculation about how quickly interest rates on bank deposits might be set free and the yuan made fully convertible. Read more of this post

Closer Look: Recent Scandals Have Thrown PR Industry into Turmoil

12.05.2013 19:33

Closer Look: Recent Scandals Have Thrown PR Industry into Turmoil

Things are so bad that illicit payments are best made in person instead of by bank transfer, a sure sign changes should be made

By staff reporter He Chunmei

(Beijing) – An employee of a public relations company recently complained to me about the difficulties her industry now faces. The confusion was brought on by recent episodes in which reporters were arrested for taking bribes to print stories. Read more of this post

Once piracy havens, China’s Internet video websites turn police

Once piracy havens, China’s Internet video websites turn police

4:51pm EST

By Paul Carsten and Jane Lanhee Lee

BEIJING (Reuters) – The website of China’s biggest Internet video company Youku Tudou Inc was once a haven for illicit Hollywood blockbusters and hit South Korean soap operas, until it realised piracy really doesn’t pay. Now the company that controls almost a third of China’s booming online video market forks out more than a billion yuan ($164 million) a year on licenses so it can legally distribute movies and shows like “The Walking Dead”, a strategy expected to result in its first ever quarterly net profit. Read more of this post

Shanghai Orders Cars Off Roads as Pollution Exceeds Scale

Shanghai Orders Cars Off Roads as Pollution Exceeds Scale

Shanghai’s air pollution dropped today as some flights were still disrupted after an air quality gauge reached “beyond index” level yesterday, causing a heavy fog. The PM2.5 index monitored by the U.S. consulate in the city fell by two categories to a “very unhealthy” level. The local meteorological station maintained an orange-level haze alert and said visibility in some regions was less than 200 meters, the Shanghai government information office’s microblog said today. Read more of this post

Shanghai’s smog gives expats second thoughts

Shanghai’s smog gives expats second thoughts

Saturday, December 7, 2013 – 12:03

Matt Hodges

China Daily/Asia News Network

SHANGHAI – Record pollution levels that saw Shanghai engulfed by acrid smog on Friday caused flight cancelations, shortages of face masks and made some expatriates reconsider their long-term plans to stay in the city. Read more of this post

Testing Time for China’s Tea Growers

Testing Time for China’s Tea Growers

12-02 14:03 Caijing

Chinese producers take the less traveled road in Africa and Europe for sustained growth, as Todd Balazovic and Li Aoxue report.

What started 5,000 years ago with a haphazard gust of wind dropping foliage into the boiling pot of a wandering Chinese emperor has brewed into a cultural cornerstone worth billions in any currency. Read more of this post

How to Guess Right on Commodities and Still Lose; Some investors who bet correctly that prices would fall didn’t profit as expected

How to Guess Right on Commodities and Still Lose

Some investors who bet correctly that prices would fall didn’t profit as expected

LIAM PLEVEN

Updated Dec. 4, 2013 4:01 p.m. ET

Skeptical investors who concluded a few years ago that the decadelong commodities rally was running out of steam have been vindicated, and the timely bets they placed on falling prices have often paid off. But in a handful of cases, investors learned a painful lesson: You can be right about the big picture, but little things can still erode your returns. Read more of this post

The falling price of gold is hurting the pawnbroking business

The falling price of gold is hurting the pawnbroking business

Dec 7th 2013 | From the print edition

TO WHOM do pawnbrokers turn when money is tight? On December 2nd Albemarle & Bond (A&B), a British one, put itself up for sale in the hope of staving off bankruptcy. Desperate to raise cash, it had already resorted to melting down unsold gold jewellery. It is not the only pawnbroker facing hard times. In November EZCORP, one of the world’s biggest, announced a 76% fall in its annual net income. The share price of H&T, Britain’s largest pawnbroker, has halved following a slump in its profits. Read more of this post

Disney’s Doc McStuffins Toys Challenge Dora the Explorer

Disney’s Doc McStuffins Toys Challenge Dora the Explorer

By Matt Townsend December 05, 2013

With established toys such as Barbie and Legos prospering year after year, it’s often tough for new ones to command kids’ attention—and retailers’ shelf space. But when Jennifer Chandler-Saunders shopped for a holiday gift for her 3-year-old daughter, she bypassed such staples in favor of Doc McStuffins, a Walt Disney (DIS) character that in two years has gained stardom on cable TV and in the toy aisle. “My daughter fell in love with Doc right away,” says Chandler-Saunders, who nabbed a $35 Doc McStuffins medical kit from Toys “R” Us. Read more of this post

Fast-Food Workers of the World, Unite! Fast-food workers face a struggle to get pay of $15 an hour and a union. The average pay for counter workers is $8.70

Fast-Food Workers of the World, Unite!

By Susan Berfield December 05, 2013

The campaign by fast-food workers to raise the industry’s minimum wage to $15 an hour and unionize has gathered momentum so quickly it has surprised even some of the organizers at the Service Employees International Union, which is underwriting it. A year ago, a group of workers protested at dozens of restaurants in New York. On Dec. 5, workers were expected to rally in about 100 cities. Read more of this post

Nestlé to Sell 10% Stake in Flavors & Fragrances Maker Givaudan for $1.28 Billion as the Swiss food giant pushes ahead with a streamlining effort

Nestlé to Sell Stake in Givaudan

Swiss food giant is offering the 10% stake worth $1.28 billion privately to institutional investors

JOHN REVILL

Updated Dec. 6, 2013 5:46 a.m. ET

ZURICH— Nestlé S.A. NESN.VX +1.16% is selling its 10% stake in flavors and fragrances maker Givaudan S.A. GIVN.VX -2.35% valued at nearly 1.2 billion Swiss francs ($1.3 billion) as the Swiss food giant pushes ahead with a streamlining effort. Read more of this post

Unilever is to prune its portfolio of individual products by up to 40 per cent by the end of 2014 in an effort to boost earnings

December 5, 2013 6:58 pm

Unilever to prune back product offering

By Scheherazade Daneshkhu, Consumer Industries Editor

Unilever is to prune its portfolio of individual products by up to 40 per cent by the end of 2014 in an effort to boost earnings. Jean-Marc Huët, finance director of the Anglo-Dutch company, told investors at a London conference on Thursday that it aimed to make savings by further reducing product lines, known as “stock keeping units,” and cutting stock levels. Read more of this post

Hess successfully shrinks itself to grow; Amid pressure from investors who argued the company had stretched itself too thin, Hess has shed assets and is moving forward as a streamlined company

Hess successfully shrinks itself to grow

December 4, 2013: 10:52 AM ET

Amid pressure from investors who argued the company had stretched itself too thin, Hess has shed assets and is moving forward as a streamlined company.

By Craig Giammona

FORTUNE — Leon Hess formed the energy company that bears his name in 1933 with a used 615-gallon tanker truck that made residential oil deliveries in his hometown of Asbury Park, N.J.. Over the years, Hess has grown into a diversified global company with revenues of $37.7 billion in 2012. Read more of this post

Sun Hung Kai Matriarch Transfers Shares to Sons Thomas, Raymond

Sun Hung Kai Matriarch Transfers Shares to Sons Thomas, Raymond

Sun Hung Kai Properties Ltd. (16)’s biggest shareholder, Kwong Siu-hing, transferred part of her holdings in the Hong Kong-based developer to sons and co-chairmen Thomas and Raymond Kwok, according to the family trust. Read more of this post

How Doing What Is Right Helped Build the Indian Financial System

How Doing What Is Right Helped Build the Indian Financial System

by CFA Institute ContributorsDecember 6, 2013

Special Report: How Doing What Is Right Helped Build the Indian Financial System by William Ortel. At the end of the last section, Pradip mentioned the event pictured above: India’s launch of a mars orbiter. This section will trace the construction of an institution that likely helped set the stage for that development by helping Indian companies access credit, and the significant role that anaylytical rigor and ethics had in that institution’s success. The second part of this interview resonated unusually deeply with me, as I hope it will with you. It is a tangible example of how innovation in finance can make life better for a complex, developing country. Read on, and be sure to subscribe to Inside Investing. Read more of this post

Sensex Record Seen on BJP Election Wins as Investors Cheer Modi

Sensex Record Seen on BJP Election Wins as Investors Cheer Modi

India’s benchmark stock index will climb as much as 6 percent to a record by year-end if state election results this weekend confirm gains by the nation’s main opposition party, according to a Bloomberg survey. Read more of this post

Bank of Japan Governor Kuroda $235,000 Salary Highlights Goldman Concern

Kuroda $235,000 Salary Highlights Goldman Concern

Bank of Japan Governor Haruhiko Kuroda’s payslip is 38 percent less than his predecessor’s 15 years ago, underscoring Goldman Sachs Group Inc.’s warning that wages must rise for Abenomics to succeed. The central bank chief’s pay is about 24 million yen ($235,000) for the year ending March 31, down from an inflation-adjusted 39 million yen in fiscal 1998, based on a BOJ statement on Nov. 29. Swaps signal an average inflation rate of 1.2 percent over the coming five years, compared with 2.03 percent in the U.S. and 1.38 percent in the euro zone. Read more of this post

Japan’s First Lady Isn’t Shy About Criticizing Policy; Japan’s popular, powerful prime minister, Shinzo Abe, faces little parliamentary opposition. One of his most widely quoted policy critics is his wife, who runs a tiny pub in Tokyo

Japan’s First Lady Isn’t Shy About Criticizing Policy

One of the most widely quoted policy critics of Shinzo Abe, the Prime Minister of Japan, is his wife.

YUKA HAYASHI

Dec. 6, 2013 10:34 p.m. ET

TOKYO—After winning two landslide elections over the past year, Japan’s popular, powerful prime minister, Shinzo Abe, faces little parliamentary opposition. One of his most widely quoted policy critics runs a tiny pub named “UZU,” or “Tidal Swirl,” hidden among the back streets of a dowdy Tokyo commercial neighborhood. Read more of this post

As workforce shrinks, Korea struggles to embrace immigration

Updated: Friday December 6, 2013 MYT 8:08:22 AM

As workforce shrinks, korea struggles to embrace immigration

SEOUL: For 61-year old construction worker Chae Chang-geun, an ethnic Korean from China,Seoul is a place to make money but not a place to call home. Chae is one of the 450,000 people from the Korean diaspora born in China, who make up 40 percent of the immigrant workforce in South Korea helping to keep the country’s car plants, shipyards and building companies going. Read more of this post

Koreans Labor Under a Mountain of Debt

Koreans Labor Under a Mountain of Debt

By Christina Larson and Heesu Lee

November 11, 2013

Over the past two decades, South Korea has morphed from a country of savers into a nation of spenders and borrowers. Jeong Young Sik, an economist at the Samsung Economic Research Institute in Seoul who tracks household debt, found that Koreans in 1990 saved on average 22.2 percent of their net household incomes; by 2012 that figure had dropped to 3.4 percent. The ratio of household debt to disposable income in 2012 was 160—higher than the ratio of 130 in the U.S. in 2007, before the housing bubble burst. Read more of this post