R.E.S.-ilience in Value Creation 《竹经：经商经世离不得立根创新》
June 25, 2014 Leave a comment
America Inc. Wakes Up to Wage Inflation
JUSTIN LAHART
June 20, 2014 4:34 p.m. ET
Even as the U.S. job market has improved, companies have been slow to pay workers more. But they may now be approaching the time when they have to cut bigger paychecks to compete. What’s more, they appear to be getting ready for this. Read more of this post
June 25, 2014 Leave a comment
Oracle: Cloudy With a Chance of M&A
DAN GALLAGHER
June 20, 2014 2:00 p.m. ET
Oracle ORCL -3.98% closed its fiscal year on a bum note. But the software giant left little doubt that it intends to get big in the cloud—and quickly.
The transition won’t be an easy one. Oracle’s stock fell Friday on the heels of its fiscal fourth-quarter report, in which it missed earnings and revenue forecasts. In part, the shortfall resulted from some customers choosing to subscribe to Oracle’s cloud offerings as opposed to licensing the software. This means less revenue being booked up front because recognition is spread out over time. Read more of this post
June 25, 2014 Leave a comment
China Metal Probe Weighs on Copper Outlook
CHUIN-WEI YAP
June 21, 2014 5:10 a.m. ET
BEIJING—Hedge funds and other money managers are building up short positions in the global copper market, according to U.S. data, riding on allegations of fraudulent metal-backed financing in China to amplify pressure on prices of one of the world’s most heavily traded metals.
These positions are likely to further weigh on the outlook for the red metal, as the effects of an official probe on metal stockpiles in the eastern Chinese port of Qingdao continue to ripple across global markets. The port’s operator has confirmed that Chinese authorities are investigating allegations of fraud relating to stockpiles of metals, though the government hasn’t commented publicly. Read more of this post
June 25, 2014 Leave a comment
The ABCs Of A Crash: No Alpha, All Beta, & Consensus Contagion
Tyler Durden on 06/21/2014 19:33 -0400
The vicious circle of central-bank inspired low volatility begetting increasing fragility (instead of 2004-2007’s virtuous circle)is nowhere more clear that in the collapse of alpha generation opportunities and the implicit capitulation of every hedge fund, retail investor, and Goldman muppet to be all-in on stocks. Removing collateral, gating bond funds, and constant warnings that they bonds (not stocks) may be frothy has done nothing but herd an ever more brainwashed investing public into an ever more concentrated ownership of stocks. This, as Citi’s Matt King explains, has distorted markets to no longer follow fundamentals (no matter what you are pitched on TV or by your broker). Read more of this post
June 25, 2014 Leave a comment
‘Consistent’ Earnings Surprises
Cornell University – Dyson School of Applied Economics and Management; Korea University – Department of Finance
Florida State University
London School of Economics & Political Science (LSE)
May 5, 2014
Abstract:
We hypothesize that analysts with a bullish stock recommendation have an interest in not being subsequently contradicted by negative firm-specific news. As a result, these analysts report downward-biased earnings forecasts so that the company is less likely to experience a negative earnings surprise. Analogously, analysts with a bearish recommendation report upward biased earnings forecasts so that the firm is less likely to experience a strong positive earnings surprise. Consistent with this notion, we find that stock recommendations significantly and positively predict subsequent earnings surprises, as well as narrow beats versus narrow misses. This predictability is concentrated in situations where the motivation for such behavior is particularly strong. Stock recommendations also predict earnings-announcement-day returns. A long-short portfolio that exploits this predictability earns abnormal returns of 125 basis points per month. Read more of this post
June 25, 2014 Leave a comment
The adventure of the copyrighted detective
Jun 19th 2014, 22:28 by G.F. | SEATTLE
THE curious case of one Mr Sherlock Holmes has completed its journey through the American courts. Who, if anyone, owns the rights to this precise ratiocinator? An appeals court said on June 16th that in the United States the answer is no one. Mr Holmes as a character, plus the majority of his characteristics and those of his chums, are decidedly in the public domain. Read more of this post
June 25, 2014 Leave a comment
Congress after the cataclysm: Long India’s dominant party, the Gandhis’ machine now barely functions as the opposition
Jun 21st 2014 | From the print edition
IS THE patient dead or merely stunned? The Indian National Congress party was so battered in last month’s general election that recovery may be beyond it. Founded in 1885, the party that did most to extract independence from Britain in 1947 and dominated Indian politics for much of the subsequent seven decades managed to win just 44 seats of 543. One senior Congressman, who boasts a decent record of predicting elections, admits that was beyond his worst imaginings. The “cataclysmic” result constitutes the “most serious crisis” in the party’s long history, worse even than the bleak late 1970s after Indira Gandhi had suspended democracy. He likens the political change now under way to the country’s passing from a first to a second republic. Read more of this post
June 25, 2014 Leave a comment
Sir Isaac Newton: Magician’s brain; The real Sir Isaac Newton was not first king of reason, but last of the magicians
Jun 21st 2014 | From the print edition
The Newton Papers: The Strange and True Odyssey of Isaac Newton’s Manuscripts.By Sarah Dry. Oxford University Press; 272 pages; $29.95. Buy from Amazon.com Read more of this post
June 25, 2014 Leave a comment
Indonesia’s next president: The apparently anointed president finds himself in a tough scrap
Jun 21st 2014 | JAKARTA | From the print edition
DURING a recent televised debate between the two men vying to become Indonesia’s next president, Prabowo Subianto strode across the set to hug his startled rival, Joko Widodo. A theatrical gesture meant to convince viewers that even a fiery-tempered former special-forces general has a softer side, it was still a striking show of civility in a race that has turned much nastier since it narrowed to a two-way contest. Read more of this post
June 25, 2014 Leave a comment
Star Investor Shares 15 Unconventional Lessons For Aspiring Entrepreneurs
MAGGIE ZHANG STRATEGY JUN. 20, 2014, 9:56 PM
On Wednesday, Shana Fisher, managing partner of High Line Venture Partners, spoke to a crowd of aspiring entrepreneurs at Y Combinator’s Startup School in New York City.
Fisher is highly renowned as one of the earliest investors in companies including Pinterest, ShopHers, Makerbot, Vine, and Refinery29.
Fisher mentioned that she has often been told she gives founders surprising advice, which she outlined in her talk. Read more of this post
June 25, 2014 Leave a comment
Economics: The Road to Depression
The Great War created a seismic shift in the global balance of economic power—and paved the way to the Great Depression.
LIAQUAT AHAMED
June 20, 2014 5:35 p.m. ET
The Great War was a financial catastrophe for Europe. For four years, the major European powers devoted some 50% of their GDP annually to fighting the war, only a fraction of which could be financed by taxes. Europe was left saddled with a gigantic overhang of public debt. Read more of this post
June 25, 2014 Leave a comment
Global Leadership: How WWI Helped Unravel the British Empire
The Great War began dethroning a superpower—but it was one of the victors
ADAM HOCHSCHILD
June 20, 2014 5:32 p.m. ET
The First World War helped to dethrone a superpower—paradoxically, one of the victors. In 1914, Britain sat atop the greatest empire history had ever seen. King George V and Queen Mary had recently been crowned, with tremendous fanfare, the emperor and empress of India. London was the world’s banker, and the Royal Navy dominated the seas. Read more of this post
June 25, 2014 Leave a comment
June 20, 2014 1:09 pm
The secret of Generation C
By Gillian TettAuthor alerts
What tweens really love about Starbucks’ secret menu is not just that it feels a little subversive – but that it offers ‘customisation’
Last weekend I was strolling through central Manhattan with my daughters when they spotted a Starbucks. “We have to go there – please, please!” one declared. “I have to tell all my friends at school!” Read more of this post
June 25, 2014 Leave a comment
LUNCH WITH THE FT
June 20, 2014 11:59 am
Zhang Lei has Lunch with the FT
By Henny SenderAuthor alerts
The billionaire Chinese financier was among the first to see the potential in homegrown internet companies. He talks about a career that began when he rented out comics at the age of seven
It is a glorious spring Sunday, the day before commencement at Yale University in New Haven, Connecticut. Among the many alumni returning to the campus is billionaire Chinese financier Zhang Lei, 41, who is a familiar figure here. In 2010 he announced a gift of the propitious amount of $8,888,888 to Yale School of Management, the largest donation made to the business school from one of its graduates. Read more of this post
June 25, 2014 Leave a comment
June 20, 2014 6:40 pm
E-books v paper?
By Julian Baggini
Which do our brains prefer? Research is forcing us to rethink how we respond to the written word
Choosing books to take on holiday has got more difficult in recent years. Now it is a question not just of what to read but how – on paper, tablet, e-reader, or perhaps even a phone – and people have strong opinions on which is best. But is there any more to the decision than cost and convenience? On this question, the answer suggested by numerous studies into the neuroscience and psychology of reading in different formats is an emphatic yes. Read more of this post
June 25, 2014 Leave a comment
Shanxi plans big growth from ‘red tourism’
Xinhua
2014-06-21
“Red tourism” is gaining popularity in China as the government pumps money into developing sites related to the Chinese revolution.
Northern China’s Shanxi province in particular is trying to accentuate the historical credentials of its revolution-era bases so it can attract tourists and enjoy faster growth. Read more of this post
June 25, 2014 Leave a comment
3D printing industry begins to boom in China
Xinhua
With products ranging from stem cells, shoes and mini-statues, 3D printing has started to boom in China amid the industry’s rapid development worldwide.
Qingdao Unique Products Develop Company announced that adipose-derived stem cells and corneal stromal cells exported via a biological 3D printer had survived for nine days. Read more of this post
June 25, 2014 Leave a comment
The remarkable rise of reverse-engineered private-label coffee pods
By Max Nisen @MaxNisen June 20, 2014
The coffee roaster and single-serve coffee machine maker Keurig Green Mountain has been extremely successful over the last few years, becoming one of America’sdominant coffee brands. But it has been challenged by a rising number of K-Cup pirates—private label companies making much cheaper Keurig-compatible single-serving pods, without paying a dime to Keurig for licenses.
To be clear, this “piracy” is not illegal, and in fact private labels are by far the fastest growing segment of the single-serve market, dramatically outstripping Keurig’s own brands and high-profile partner companies such as Starbucks. Private-label market share has grown to 9.3% of the total, according to a Credit Suisse research report. And private-label sales growth has been absolutely spectacular over the last year: Read more of this post
June 25, 2014 Leave a comment
Mega Study owners drop plan to sell stake
2014.06.20 16:57:42
Mega Study, Korea’s largest online education service provider, said Friday its largest shareholders have dropped a plan to sell their stake because the offer from potential buyers failed to meet their expectations. Read more of this post
June 25, 2014 Leave a comment
Region in S. Korea emerges as the Mecca of global knitwear industry
2014.06.20 17:
“When buyers in Los Angeles order fabrics for knitwear, it takes about two months for Chinese companies to deliver them to their office. But companies in Yangju, Pocheon and Dongducheon (YPD) in South Korea can perform the job just in a month as both the process from the beginning to shipment and transportation take two weeks respectively,” said Gwon Byung-hee, chief of a textile exporter based in Uijeongbu, Gyeonggi-do, South Korea.
YPD is emerging as the heart of the global knitwear production, as the apparel consumption pattern is shifting from woven fabrics to more luxurious knitwear especially in developed countries. The success is believed to have stemmed from the fact that YPD has about 3,000 companies specializing in each phase of the textile production such as knitting, dyeing and post-processing and the firms’ cooperation system is working very well because they are located in one hour car-ride distance. As a result, large textile fashion companies such as LG Fashion and Kolon are flocking to YPD to set up knitwear production plants and research institutions. Read more of this post
June 24, 2014 Leave a comment
This Is Your Brain on Writing
JUNE 20, 2014
Carl Zimmer
A novelist scrawling away in a notebook in seclusion may not seem to have much in common with an NBA player doing a reverse layup on a basketball court before a screaming crowd. But if you could peer inside their heads, you might see some striking similarities in how their brains were churning.
That’s one of the implications of new research on the neuroscience of creative writing. For the first time, neuroscientists have used fMRI scanners to track the brain activity of both experienced and novice writers as they sat down — or, in this case, lay down — to turn out a piece of fiction. Read more of this post
June 24, 2014 Leave a comment
Our Moral Tongue: Moral Judgments Depend on What Language We’re Speaking
JUNE 20, 2014
By BOAZ KEYSAR and ALBERT COSTA
ON June 20, 2003, employees of the Union Pacific Railroad faced a difficult decision as a runaway train headed toward downtown Los Angeles: Should they divert the train to a side track, knowing it would derail and hit homes in the less populated city of Commerce, Calif.? Did the moral imperative to minimize overall harm outweigh the moral imperative not to intentionally harm an innocent suburb? Read more of this post
June 24, 2014 Leave a comment
Mahathir Thwarts Sultan’s Power Grab
Written by Our Correspondent
SAT,14 JUNE 2014
Intervention saves PM Najib’s political standing
Malaysia’s aging former Prime Minister Mahathir Mohamad had to act earlier this week to save Prime Minister Najib Tun Razak from embarrassing legislation that would have given the Sultan of Johor executive powers to run the housing authority of the country’s second biggest state. Read more of this post
June 24, 2014 Leave a comment
Content remains a giant mystery, but that hasn’t slowed the flood of VC cash
BY JAMES ROBINSON
ON JUNE 20, 2014
Content marketers might actually have no idea which metrics translate into actual business results, but content marketing companies are seeing a huge uptick in venture financing, anyway.
Out this week from CB Insights is a report that content marketing startups raised $292 million dollars across 44 deals in the 12 months spanning the Q2 2013 to Q1 2014. This was a 47 percent bump in deal activity over the year prior, but a 125 percent spike in dollars, as latter-stage companies like Percolate, NewsCred and Contently rolled out big funding rounds. Read more of this post
June 24, 2014 Leave a comment
With Efforts to Buy Shire, AbbVie Tries to Join Rush to Go Abroad
By DAVID GELLES and CHAD BRAY
JUNE 20, 2014 5:43 AM Comment
Updated, 7:08 p.m. | At first it was a trickle. A few relatively unknown pharmaceutical companies acquired international competitors, and moved their headquarters abroad.
Then the pace picked up. Bigger health care companies, including Pfizer andMedtronic, also sought to relocate overseas, claiming that doing so would lower their tax rate and allow them to access trapped cash. Competitors felt pressure to match those financial advantages and began looking for deals of their own. Read more of this post
June 24, 2014 Leave a comment
How big can BlackRock get?
Jonathan Ratner | June 19, 2014 7:50 AM ET
With more than US$4.4-trillion in assets under management, BlackRock Inc. is the largest money manager in the world by a wide margin, but that has some investors worried that its growth will inevitably slow down.
RBC Capital Markets analyst Eric Berg, however, is confident BlackRock is being very disciplined in launching new products that can help increase AUM over time and is targeting market leadership in key markets to help boost overall growth. Read more of this post
June 24, 2014 Leave a comment
YAO YANG
Yao Yang is Dean of the National School of Development and Director of the China Center for Economic Research at Peking University.
JUN 20, 2014
BEIJING – China’s real-estate sector has been a source of serious concern for several years, with soaring property prices raising fears of overheating in the housing market. But, with price growth easing, it seems that the government’s campaign to rein in property risk is finally taking hold. The danger now is that the housing market will collapse – bringing China’s economic prospects down with it. Read more of this post
June 24, 2014 Leave a comment
How ancient parasite wormed its way into human life
AP, AFP-JIJI
JUN 20, 2014
LONDON/PARIS – In a skeleton more than 6,200 years old, scientists have found the earliest known evidence of infection by a parasitic flatworm, revealing how human advancement enabled a creature resembling a tiny slug to spread. Today it afflicts more than 200 million people.
Archaeologists discovered the egg of the parasite near the pelvis of a child’s skeleton in northern Syria and say it dates back to a time when ancient societies first used irrigation systems to grow crops. Read more of this post
June 24, 2014 Leave a comment
Hi, I’m a Tablet. I’ll Be Your Waiter Tonight.
Panera and Chili’s Turn to Tablets to Streamline Service
By STEPHANIE STROMJUNE 20, 2014
BRAINTREE, Mass. — An idea came to Ronald M. Shaich, the chief executive of Panera Bread, as he was driving his children to school about four years ago: What if everyone could order lunch the way he did?
The Shaich household’s morning routine included a call to the manager of the nearest Panera location to order lunch for Mr. Shaich’s son (Asian sesame chicken salad with half the normal amount of chicken and twice the won ton strips) and daughter (various salads but with dressing on the side). Read more of this post
June 24, 2014 Leave a comment
Jun 20, 2014
A Love-Hate Relationship: Why Guangdong’s Financial Health Is So Tied to Property
China’s southern province of Guangdong was the first beneficiary of Beijing’s policy of opening up the economy to the outside world, becoming an export powerhouse and a magnet for foreign investment. It was also among the first local governments given a chance to issue bonds on its own – without Beijing holding its hand – as part of the central government’s plan to expand the financing channels of better-managed provinces and cities. Read more of this post
咬定青山不放松，立根原在破岩中。 千磨万击还坚劲，任尔东西南北风。
Bamboo Innovator 