Uniqlo tweaks ‘Made for All’ to give U.S. shoppers a ‘3-D’ fit

Uniqlo tweaks ‘Made for All’ to give U.S. shoppers a ‘3-D’ fit

4:05am EST

By Chang-Ran Kim and Ritsuko Shimizu

TOKYO (Reuters) – Fast Retailing Co’s (9983.T: Quote,Profile, Research, Stock Buzz) casual clothing brand Uniqlo is rethinking its “Made for All” strategy, looking to offer lower priced lines in smaller Asian cities and more generous sizes to fit the U.S. market, a top executive said on Tuesday. Read more of this post

China’s $12 trillion corporate debt pushes up refunding costs, drives mergers

China’s $12 trillion corporate debt pushes up refunding costs, drives mergers

4:21am EST

By Matthew Miller and Umesh Desai

BEIJING/HONG KONG (Reuters) – China’s corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.

Chinese non-financial companies held total outstanding bank borrowing and bond debt of about $12 trillion at the end of last year – equal to over 120 percent of GDP – according to Standard & Poor’s estimates. Read more of this post

Why caste still matters in India

Why caste still matters in India

Feb 24th 2014, 23:50 by A.R. | DELHI

INDIA’S general election will take place before May. The front-runner to be the next prime minister is Narendra Modi of the Bharatiya Janata Party, currently chief minister of Gujarat. A former tea-seller, he has previously attacked leaders of the ruling Congress party as elitist, corrupt and out of touch. Now he is emphasizing his humble caste origins. In a speech in January he said “high caste” Congress leaders were scared of taking on a rival from “a backward caste”. If Mr Modi does win, he would be the first prime minister drawn from the “other backward classes”, or OBC, group. He is not the only politician to see electoral advantage in bringing up the subject: caste still matters enormously to most Indians. Read more of this post

China’s Local-government debt: Bridging the fiscal chasm; Fancy infrastructure is one example of local-government largesse. Which province is deepest in debt as a result?

China’s Local-government debt: Bridging the fiscal chasm; Fancy infrastructure is one example of local-government largesse. Which province is deepest in debt as a result?

Feb 22nd 2014 | HONG KONG | From the print edition

CHINA’S provincial administrations are often referred to as “local” governments. But the phrase does not do them justice. The province of Guangdong, for example, boasts more than 105m people and a GDP worth more than $1 trillion. Only 11 countries (including China itself) have a bigger population and only 15 have a larger economy. Read more of this post

S. Korea’s Park vows to rebalance export-led economy

Updated: Tuesday February 25, 2014 MYT 12:14:11 PM

S. Korea’s Park vows to rebalance export-led economy

SEOUL: South Korean President Park Geun-Hye unveiled Tuesday a three-year plan to rebalance the export-reliant economy, investing US$3.7bil on start-ups, boosting domestic spending and getting more young people and women in the workforce. Read more of this post

China’s New IPO Regime — Manipulation or Emancipation? CSRC Suspends IPOs Until “Two Sessions” in March

China’s New IPO Regime — Manipulation or Emancipation?

2014-02-24 18:05:39

Peter Fuhrman, Chairman and CEO China First Capital

In English we use the phrase ” bee in one’s bonnet” to explain someone with an obsession for a particular point of view. In Chinese, a similar idiom is 挥之不去, meaning you can’t wipe out the stain. Read more of this post

348 creditor suits against Shanghai steel magnates in 28 days

348 creditor suits against Shanghai steel magnates in 28 days

Staff Reporter 

2014-02-25

The troubles of China’s steel industry have culminated in charges filed by creditor banks against some industry leaders, notably Xiao Jiashou and Zhou Huarui. Read more of this post

Monopoly in China’s civil aviation still strong despite reforms

Monopoly in China’s civil aviation still strong despite reforms

Staff Reporter

2014-02-25

After more than three decades of economic reforms, the civil aviation sector in China is still monopolized by the nation’s six leading civil aviation groups in many areas, including air routes, booking systems, ground services, aviation fuel and aviation supplies. Read more of this post

South Korea’s financial authorities sent an ‘ultimatum’ to cash-strapped Dongbu Group to go ahead with restructuring in prompt manners

Financial regulator urges Dongbu to launch restructuring

2014.02.25 16:36:55

South Korea’s financial authorities sent an ‘ultimatum’ to cash-strapped Dongbu Group to go ahead with restructuring in prompt manners.  Read more of this post

‘Most beautiful CPPCC member’ Liu Yingxia sacked without explanation

‘Most beautiful CPPCC member’ Liu Yingxia sacked without explanation

Staff Reporter

2014-02-25

Liu Yingxia attends the third plenary session of the 11th CPPCC national committee in Beijing on March 10, 2013. (Photo/CNS)

Liu Yingxia, dubbed “the most beautiful member of the Chinese People’s Political Consultative Conference (CPPCC),” has been thrust under China’s political spotlight following her unexplained sacking from the government’s political advisory body. Read more of this post

Foreign nationals quit China due to smog and layoffs

Foreign nationals quit China due to smog and layoffs

Staff Reporter

2014-02-25

While heavy air pollution has invaded most of China’s provinces and prompted Beijing to take action to curb the incessant haze, it has boosted the business of relocation firms such as Santa Fe Relocations as many foreign workers are opting to leave the country because of the smog, reports Beijing’s Economic Weekly. Read more of this post

The South Korean government will roll up sleeves to encourage a ‘second venture boom’ in a bid to boost dynamics of the nation’s economy.

Gov’t to reignite 2nd venture boom

2014.02.25 16:18:58

The South Korean government will roll up sleeves to encourage a ‘second venture boom’ in a bid to boost dynamics of the nation’s economy.
In a move, the government is set to inject four trillion won ($3.7 billion) by 2017 and offer tax deduction on angel investment of up to 15 million won for three years.  Read more of this post

NPS gets tough on sketchy directors

NPS gets tough on sketchy directors

Feb 25,2014

The National Pension Service (NPS), the country’s largest investor, made changes to its voting guidelines so it can reject the appointment of corrupt directors to boards of companies it invests in. Read more of this post

For every Fuji Xerox there’s a Sony Ericsson: the pros and pitfalls of merging your business

For every Fuji Xerox there’s a Sony Ericsson: the pros and pitfalls of merging your business

Published 24 February 2014 11:28, Updated 25 February 2014 09:31

Michael McQueen

Wedding bells are ringing. Business marriages seem to be in season. First there were the Microsoft-Nokia nuptials last year and now the blessed union of WhatsApp and Facebook. Even one-time retail rivals Myer and David Jones are flirting with the idea of engaging in consummation rather than competition. Read more of this post

HSBC can’t shrink its vast banking empire fast enough to satisfy investors

HSBC can’t shrink its vast banking empire fast enough to satisfy investors

By Jason Karaian @jkaraian February 24, 2014

The numbers: What’s $2 billion between friends? Last year, banking giant HSBC generated $22.6 billion in pre-tax profits, up 9% from the previous year, it reported today. But analysts were looking for a result closer to $24.6 billion; the bank’s share price sank by nearly 4% at the London open. Read more of this post

Turning Japan into a global gambling hotspot may be just the ticket for Abenomics

Turning Japan into a global gambling hotspot may be just the ticket for Abenomics

By Lily Kuo @lilkuo February 24, 2014

The world’s biggest gambling company has vowed to spend “whatever it takes” (up to $10 billion) to set up a casino in Japan. Las Vegas Sands CEO Sheldon Adelson’s pledge comes at an auspicious time, with the Japanese government considering legalizing casinos and in desperate need of an economic boost. Read more of this post

Why so many “activist” investors are barraging companies with money-making schemes

Why so many “activist” investors are barraging companies with money-making schemes

By John McDuling @jmcduling February 24, 2014

It’s not just Carl Icahn. Activist investors are everywhere at the moment. They’re agitating for change at companies as diverse as Darden Restaurants, the owner of the Red Lobster and Olive Garden restaurant chains, and Dow Chemical Co, the 116-year-old conglomerate. Read more of this post

How Citigroup stumbled in the Mexican housing market

How Citigroup stumbled in the Mexican housing market

1:12am EST

By Elinor Comlay and David Henry

ZUMPANGO, Mexico/NEW YORK – (Reuters) – Just outside the town of Zumpango, about an hour from Mexico City, packs of stray dogs sniff around abandoned homes in a half-empty neighborhood. Read more of this post

Compliance becomes hotter issue for U.S. firms in China: report

Compliance becomes hotter issue for U.S. firms in China: report

Mon, Feb 24 2014

By Adam Jourdan

SHANGHAI (Reuters) – U.S. companies in China placed greater focus on compliance last year after several high profile probes into corruption and high pricing, but rising costs and a skills shortage remained their main concerns, the American Chamber of Commerce in Shanghai said in its annual report. Read more of this post

Britain’s biggest supermarket chain, Tesco Plc, is reportedly dropping its brand in China when it officially enters into a JV with China Resources Enterprise

Tesco brand reportedly to be dropped in China

China Daily February 25, 2014 1:20 pm

Britain’s biggest supermarket chain, Tesco Plc, is reportedly dropping its brand in China when it officially enters into a joint venture with China Resources Enterprise Ltd, further consolidating the latter as the largest retailer in the country in terms of market share. Read more of this post

Pension Funds Sue on a Deal Gone Cold; Alphonse Fletcher Jr., a flashy hedge fund manager, has been accused of running something akin to a Ponzi scheme, and the pension systems that say he misled them are hoping to get their money back.

FEBRUARY 24, 2014, 9:51 PM  Comment

Pension Funds Sue on a Deal Gone Cold

By RACHEL ABRAMS

Sitting around a table in Baton Rouge, La., in February 2008, a handful of board members of the Firefighters’ Retirement System of Louisiana heard an investment pitch that would later come back to haunt them. Read more of this post

S Korea’s Park forms special reunification panel

S Korea’s Park forms special reunification panel

Last Updated: Tuesday, February 25, 2014, 11:18

Seoul: South Korean President Park Geun-Hye announced Tuesday the creation of a committee under her direct control to work out “systematic and constructive” plans for reunification of the divided Korean peninsula.
The presidential committee will include experts from every sector of society and map out a blueprint for expanding inter-Korean dialogue and exchanges with a view to eventual unification.  Read more of this post

Chinese officials reportedly shut some businesses as pollution soars

Chinese officials reportedly shut some businesses as pollution soars

China’s landmark CCTV buiiding, where state television is housed, could barely be seen in this photo of pedestrians walking near the Guomao subway station in Beijing.

BY STUART LEAVENWORTH

MCCLATCHY FOREIGN STAFF

BEIJING — China’s capital region remained swathed Monday in a cloud of choking smog, prompting a rise in hospital visits and sales of indoor air purifiers and reports of rare industry shutdowns. Read more of this post

Kim Yuna and the Korean art of suffering; How Kim Yuna’s Olympic loss weighs on the heart of a nation.

Kim Yuna and the Korean art of suffering

How Kim Yuna’s Olympic loss weighs on the heart of a nation.

ENLARGE

South Korea’s Kim Yuna performs in the Women’s Figure Skating Free Program at the Iceberg Skating Palace during the Sochi Winter Olympics on February 20, 2014. (Adrian Dennis/AFP/Getty Images)

SEOUL, South Korea — Call it the gasp heard round the world.

Olympic fans were aghast when Russia’s Adelina Sotnikova took the figure skating gold medal over South Korean uber-star Kim Yuna. You could almost imagine the collective shock measuring on the Richter scale. Read more of this post

Starbuck Korea 2013 revenue is estimated at 480 billion won ($453 million), up from 391 billion won in 2012

2014-02-23 13:14

What’s secret of success? – ‘It’s more than beans’

By Lee Hyo-sik
Chung Ha-yeon, 26, is a self-proclaimed Starbucks fanatic. Not a single day goes by without Chung sipping a cup of fresh brew from the world’s largest coffee franchise.
“On the way to my office every morning, I always get Americano from a nearby Starbucks. I love the aroma of freshly brewed coffee in the morning,” Chung said. “On top of regular coffee products, I often enjoy Starbucks’ seasonal specialties all year around. I just tried the franchise’s latest ‘cherry blossom latte’ and ‘cherry blossom white chocolate.’ I just loved them.” Read more of this post

Air Purifier Rush as Smog Shrouds Northern China

Air Purifier Rush as Smog Shrouds Northern China

By Agence France-Presse on 11:53 am February 24, 2014.
Dangerous smog which has blighted swathes of northern China in recent days has prompted a spike in air purifier sales, local media reported Monday, as pollution continued to shroud Beijing. Read more of this post

Myanmar Maids Arrive in Hong Kong as Welfare Fears Grow

Myanmar Maids Arrive in Hong Kong as Welfare Fears Grow

By Agence France-Presse on 11:20 am February 25, 2014.

Hong Kong. Hong Kong on Monday received its first official group of maids from Myanmar since the former junta-ruled nation allowed its citizens to work abroad as domestic helpers, as the city tries to plug a shortage.

An initial group of 19 women — drawn from around 200 expected over the next three months — arrived in the semi-autonomous Chinese territory, said the agency which arranged their employment. Read more of this post

What Indonesia Needs Right Now Is Good Corporate Governance

What Indonesia Needs Right Now Is Good Corporate Governance

By Sarvesh Suri on 11:40 am February 23, 2014.
Indonesia’s economy is facing tough challenges: a slowdown of gross domestic product growth, depreciation of the rupiah and tightening of external financing. On the political side, the country is entering a period of uncertainty with upcoming legislative and presidential elections. Moreover, under current market conditions, companies are operating in ever tougher competitive environments. Read more of this post

India’s Zee to Offer Bollywood, Lifestyle TV

India’s Zee to Offer Bollywood, Lifestyle TV

By Muhamad Al Azhari on 10:30 am February 24, 2014.

Zee Entertainment Enterprises, one of India’s leading media and entertainment companies, is keen to tap the Indonesian pay-television market, banking on strong Indian influence on Indonesia’s culture, its founder and chairman has said. Read more of this post