R.E.S.-ilience in Value Creation 《竹经：经商经世离不得立根创新》
November 13, 2013 Leave a comment
Investors Still Seeking the Perfect China ETF
It sounds more like a souped-up race car than a fund: the db X-trackers Harvest CSI 300 China A-Shares Fund (ASHR). As the first exchange-traded fund to give U.S. retail investors exposure to hard-to-access China A-Shares, which had been available only to Chinese citizens and a few qualified foreign institutions, it’s generating a lot of buzz. Read more of this post
November 13, 2013 Leave a comment
Flush with fuel, China targets new markets from Africa to Australia
4:31pm EST
SINGAPORE (Reuters) – From Africa to Australia, Chinese refiners are exploring new markets to ship surplus oil products such as jet fuel and diesel, putting them on track to compete with global trading houses and refining centers such as Singapore. The switch to being a growing exporter of fuel comes despite China recently becoming the world’s largest net oil importer. The opening of more refineries to process oil has emerged just as the world’s second-biggest economy shifts down a gear so there is less demand for some transport and industrial fuels, which are more sensitive to the pace of growth. Read more of this post
November 13, 2013 Leave a comment
November 12, 2013, 9:34 PM
Internet Sows Doubt Over China Reform Plan
China’s Communist Party released the report on its pivotal four-day policy planning meeting in dribs and drabs online on Tuesday evening. Primed by weeks of state media reports promising grand reforms – the party mouthpiece People’s Daily said it “will have an important and far-reaching effect in pushing ahead with socialism with Chinese characteristics” — China’s Internet users were largely underwhelmed. Read more of this post
November 13, 2013 Leave a comment
Even Native Chinese Speakers Aren’t Sure What The Government Said About Market Reform
SAM RO NOV. 12, 2013, 4:50 PM 700 1
China’s ruling Communist Party wrapped up its so-called “3rd Plenum” meetings today. And there wasn’t anything too exciting that came out of it. Early media reports suggested that the China’s leaders wanted the markets to play a bigger role in the economy. But Bank of America Merrill Lynch’s Ting Lu warned that it was extremely unclear if they actually said anything new. From Lu’s note: Not so meaningful semantic change on the role of “market”
The communique changes the role of “Market Economy” from “基础性 (Jichuxing)” (used in the past 20 years) to “决定性 (juedingxing)”. For native Chinese speakers like us with years of intensive training in Chinese (and we did well on the grueling GRE too), we found it very difficult to tell the real difference. Bloomberg translated “ 基础性 (Jichuxing)” to “basic”, but we think it could be translated to “fundamental (foundational)” or “essential” as well. Regarding “决定性 (juedingxing)”, it could be translated to “deciding”, “determining” or “decisive”. We suspect the Chinese people won’t interpret too much from this change. No matter how you interpret it, it’s clearly not a game-changer.
November 13, 2013 Leave a comment
China’s Third Plenum Concludes Big On Promises, Hollow On Actions
Tyler Durden on 11/12/2013 08:05 -0500
A few hours ago, the “historic” and “most important ever” (just like ever payrolls report) Chinese plenum concluded. And like everything out of China, it was big on promises and scant on details. Among the numerous assurances of reform, the plenum promised: to deepen reform of the medical system and in the education sector, to speed up free trade zone development, to clear barrier in markets, to deepen national defense and military reform, to reform the income distribution system, reiterated the main role of public ownership and said there would be reform of government-market relations. And all of this would yield results by 2020. Essentially, words so hollow one can’t help but doubt this was merely the latest smokescreen to justify the perpetuation of the status quo, investment-based economy which as the BBG Brief chart below shows, instead of becoming more consumption driven which is what China has been feverishly attempting to achieve, has instead become ever more reliant on consumption. Read more of this post
November 13, 2013 Leave a comment
China Keeps Plan Decisively Vague
Beijing Delivers a Squishy Reform Agenda After a Big Communist Party Meeting, With Promises for More Details Down the Road
AARON BACK
Updated Nov. 12, 2013 7:24 p.m. ET
The Chinese Communist Party’s secretive meeting has come and gone, but President Xi Jinping‘s economic agenda remains a mystery. Ever since Mr. Xi became China’s top leader last year, investors and business executives have been told to wait until this fall’s so-called Third Plenum to get an idea of what his economic policies will be. Yet the statement that followed the conclusion of this meeting Tuesday didn’t clear the air. Granted, there was one reassuring message that stood out in a verbose communiqué following the conclave: Market forces will play “the decisive role” in allocating resources. Read more of this post
November 13, 2013 Leave a comment
After Long Wind-Up, Xi Delivers Anticlimax
ANDREW BROWNE
Nov. 12, 2013 1:32 p.m. ET
BEIJING—For months now, anticipation has been building in China about a Communist Party meeting that would, it was officially promised, offer up a “comprehensive” plan to illuminate the way ahead for President Xi Jinping‘s goal of national rejuvenation. Read more of this post
November 13, 2013 Leave a comment
Starbucks to Pay $2.76 Billion to Settle Grocery Dispute
Starbucks Corp. (SBUX) said it would pay Mondelez International Inc. (MDLZ) $2.76 billion to settle a dispute over the coffee-shop chain’s bagged coffee business. The payment, ordered by an arbitrator, consists of $2.23 billion in damages and $527 million in interest and attorneys’ fees, Seattle-based Starbucks said today in a statement. The company said it has adequate cash and borrowing capacity to fund the payment and will book it as a charge to its fiscal 2013 operating expenses. Read more of this post
November 13, 2013 Leave a comment
New Kmart Rent-to-Own Program Turns $300 TV Into $415 Buy
Kmart is introducing a rent-to-own program charging the equivalent of 100-plus percent annual interest, a move into a business that has drawn criticism for hurting low-income consumers. The Lease-to-Own program touts instant gratification — customers without credit take a product home right away, make biweekly payments, then decide whether to buy out or return the product. A typical deal could turn a $300 television into a $415 purchase. Sears Holdings Corp. (SHLD), which owns Kmart, debuted a similar program at its namesake stores earlier this year. Read more of this post
November 13, 2013 Leave a comment
H&M Grabs More Control of Asia Factories Amid Bangladesh Unrest
Three decades after it started doing business with suppliers in Bangladesh, Hennes & Mauritz AB (HMB) is seeking greater control of production in a nation where it is among the largest purchasers of clothing. H&M this year agreed to become the sole client of two factories in Bangladesh and one in Cambodia, helping convince building owners to offer satisfactory conditions and wages, Anna Gedda, H&M’s social sustainability manager, said. Read more of this post
November 13, 2013 Leave a comment
November 12, 2013, 4:48 PM
The End of the Tractor Boom
By Bob Tita
Sales of farm equipment wilted during October, foreshadowing a long-anticipated decline in North American farm machinery demand next year. Retail sales of farm tractors in the U.S. and Canada slipped 1.5% last month from a year ago, according to unit sales figures released by the Milwaukee-based Association of Equipment Manufacturers. Sales of high-horsepower tractors held up, rising 5% against a tough year-ago comparison. But sales of the four-wheel-drive tractors, an expensive tractor used mostly on large farms, dropped 18%. Moreover, sales of harvesting combines crashed 28% from record volumes of a year ago. Read more of this post
November 13, 2013 Leave a comment
TSMC reveals successors of Morris Chang
Wednesday, Nov 13, 2013
Ted Chen
The China Post/Asia News Network
TAIPEI – The board of TSMC, the world’s leading semiconductor foundry, on Tuesday announced personnel appointments to succeed Morris Chang, the company’s longtime CEO. According to the company, two high ranking officers, Mark Liu (劉德音) and C.C.Wei (魏哲家) will be promoted to the position of co-CEOs, an outcome in line with the expectation of industry observers. Following the change, Liu and Wei will report directly to Chang, who will retain his post as the company’s chairman. Read more of this post
November 13, 2013 Leave a comment
Why Twitter will keep growing: Its best ideas come from the users
By Brian Fung, Updated: November 12 at 2:56 pm
Twitter’s just unveiled a new offering that’ll surely delight organizers and curators everywhere: It’s called Custom Timelines, and it lets users compile a list of selected tweets in any order for others to look at — whether on Tweetdeck, embedded in a Web site or on Twitter.com. For things you want to keep a record of but don’t necessarily update very often, this can be a good way to hand-craft (and share) an archive. For instance, if you’re an app developer, you might build a custom timeline that functions as a changelog, helping people understand how your app has evolved over the past few versions. Read more of this post
November 13, 2013 Leave a comment
Vice Media Bulks Up News Division
Company With Knack for Reaching Young Adults Ads More Journalists
WILLIAM LAUNDER
Nov. 12, 2013 12:02 a.m. ET
Vice Media Inc., known for its edgy, youth-oriented online and TV programming, is more than doubling the size of its news operations, the latest sign that digital-media outlets see growth potential in news. Over the past two months, Vice has quietly hired more than 60 additional journalists, increasing the size of its formal news team to more than 100, to cover everything from Middle East war zones to health-care reform through an expansion of its digital video offering, Chief Executive Shane Smith said in an interview. Read more of this post
November 13, 2013 Leave a comment
Twitter Lets Users Build Timelines Around TV Shows, News
Twitter Inc. (TWTR) is letting users create customized news feeds around real-time events as the microblogging service aims to boost engagement on the site. Custom timelines will help users collect tweets around conversations, television shows or breaking news so messages that are of most interest will float to the top, the San Francisco-based company said today in a blog post. “When the conversation around an event or topic takes off on Twitter, you have the opportunity to create a timeline that surfaces what you believe to be the most noteworthy, relevant tweets,” the post said. Twitter, which held its stock market debut last week, is investing in products to keep users on the site for longer and lure advertisers as it competes with Facebook Inc. for social-media ad sales. Twitter’s research and development costs surged 170 percent in the third quarter from a year earlier, and the company spent more than half its revenue on R&D. Twitter fell 2.3 percent to $41.90 at the close in New York. The stock has climbed 61 percent since it started trading Nov. 7, in the biggest technology initial public offering since Facebook’s last year.
To contact the reporter on this story: Sarah Frier in New York at sfrier1@bloomberg.net
November 13, 2013 Leave a comment
Secretive Indian Twitter investor makes $4.7 billion
Wednesday, Nov 13, 2013
The New Paper
The man is so secretive that he is reported to have an assistant who scrubs the Internet of his personal photographs and information, the Times of India reported. So who is the secretive India-born Twitter investor who earned an estimated US$3.8 billion (S$4.7 billion) in the tech titan’s recent initial public offering (IPO)? The India-born Mr Rizvi, 47, owns a 15.6 per cent stake in the IPO darling, but what is known about him would barely fill a 40-character tweet. Read more of this post
November 13, 2013 Leave a comment
Pay-TV Industry Loses More Subscribers
Worst 12-Month Stretch Adds to Evidence that Consumers Are Cutting the Cord
SHALINI RAMACHANDRAN
Nov. 12, 2013 4:55 p.m. ET
The pay TV industry continued to lose subscribers in the third quarter, analysts estimated on Tuesday, providing further evidence that some consumers are dropping their pay TV subscriptions, or cutting the cord. The industry as a whole lost 113,000 subscribers in the quarter compared with 101,000 in the year ago-period, according to a report by Wall Street research firm MoffettNathanson LLC, issued on Tuesday after Dish Network Corp. DISH +6.00% released its quarterly report. Dish was the last of the publicly traded pay TV providers to report for the quarter. MoffettNathanson’s estimate includes a calculation for performance of privately-held distributors. The firm estimates that total pay-TV subscribers shrank 0.2% over the 12 months ended Sept. 30. Read more of this post
November 13, 2013 Leave a comment
Meet the Man Who Really Runs the Internet
Much of the Internet Runs Under the Watch of Amazon’s Web Services Chief
GREG BENSINGER
Andy Jassy, the head of Amazon’s Web Services, wants cloud computing to be as vital to the Seattle-based retailer as diapers, books and skin-care products. Drew Kelly for The Wall Street Journal
Nov. 12, 2013 8:25 p.m. ET
From Netflix Inc. NFLX -1.24% ‘s streaming video service to Pinterest Inc.’s social network, much of the Internet runs under Andy Jassy’s watch. The head of Amazon.com Inc. AMZN -1.37% ‘s Web Services division, which sells computing power to other companies from network of Internet-connected servers, wants cloud computing to be as vital to the Seattle-based retailer as diapers, books and skin-care products. Numerous technology startups and even government agencies rent server space from Amazon Web Services, including the Central Intelligence Agency, which recently chose AWS for a $600 million data storage contract. Read more of this post
November 13, 2013 Leave a comment
Malone’s Liberty Global in Talks for Intel TV Service
John Malone’s Liberty Global (LBTYA) Plc, the European cable operator, is in talks to acquire Intel Corp. (INTC)’s online pay-TV service under development, said three people with knowledge of the situation. Malone would use Intel’s system outside the U.S., said one of the people, who asked not to be identified because the talks are private. London-based Liberty Global owns Virgin Media in the U.K., and operates in Germany, Belgium and elsewhere. Negotiations are early and could fall apart, said the people, who declined to comment on the price being discussed. Read more of this post
November 13, 2013 Leave a comment
Ireland’s Would-Be Carlos Slim Sells Mobiles to Masses
Hiking along the Kokoda Trail in remote eastern Papua New Guinea last summer, Denis O’Brien discovered he didn’t have a mobile phone signal. The sturdily built Irish telecommunications tycoon knew how to fix that. He stormed into the local office of Digicel Group Ltd., the wireless operator he’d founded in 2001, and demanded that extra phone towers be erected along the route. Read more of this post
November 13, 2013 Leave a comment
Hulu Wants to Be Offered With Pay-TV Bundles
Online Video Outlet Could Be Centralized Location for Full Seasons of Shows
SHALINI RAMACHANDRAN And AMOL SHARMA
Nov. 12, 2013 11:46 a.m. ET
Online video outlet Hulu LLC is in early discussions with several pay-TV providers about potential partnerships, said people familiar with the situation, the latest sign that the media company-owned service is trying to become integrated with pay television. Among ideas being discussed is for pay-TV operators to sell Hulu’s subscription service, Hulu Plus, as part of pay-TV operators’ TV bundles, the people said. Read more of this post
November 13, 2013 Leave a comment
GE Printing Engine Fuel Nozzles Propels $6 Billion Market
General Electric Co. (GE) is on the hunt for ways to build more than 85,000 fuel nozzles for its newest jet engine. Instead of assembling them from 20 different parts, it plans to create the units in one piece — with 3-D printers. Constructing the components with lasers one layer at a time will producer stronger, lighter nozzles than with conventional machining, according to GE. That means ensuring the printers evolve into equipment sturdy enough for assembly-line production, not just tools to fashion plastic prototypes. Read more of this post
November 13, 2013 Leave a comment
November 12, 2013 / Winter 2013 / Issue 73
From Netscape to eHarmony: The High Risks and Big Rewards of Platform Markets
Companies that link complementary partners, like dating sites or online auctions, can dominate for years or be swept away in an instant.
Platforms are market structures that bring together complementary partners. Think eBay, which pairs buyers and sellers online, or credit cards, which similarly connect consumers and the companies with which they want to do business. Platforms enable all sorts of relationships: Apple’s iOS joins mobile software programmers and iPhone users; myriad online dating services couple potential life partners. In short, any company that matches two sides of a market is a platform. Read more of this post
November 13, 2013 Leave a comment
NOVEMBER 11, 2013, 1:25 PM
For $99, Eliminating the Mystery of Pandora’s Genetic Box
IF DNA is destiny, then Anne Wojcicki is in the right business. She is the co-founder and chief executive of 23andMe, a Silicon Valley start-up that offers a $99 DNA test, as easy as spitting into a tube, that provides detailed genetic information from disease risk to family lineage. In a recent interview at 23andMe’s office in Mountain View, Calif., Ms. Wojcicki (pronounced wo-JIT-skee) discussed the Silicon Valley girls’ club, the ties connecting her marriage and her business and why she is convinced that personal genetics will change health care. What follows are excerpts from that interview, edited for length and clarity. Read more of this post
November 13, 2013 Leave a comment
Etsy Tops $1 Billion in 2013 Product Sales on Mobile Lift
Etsy Inc., a website for handmade and vintage goods, has already sold more than $1 billion in merchandise this year as customers increasingly view products on mobile devices. The New York startup, which had $895 million in gross merchandise sales for all of last year, passed the $1 billion milestone in October, setting the company up for another year of growth, Chief Executive Officer Chad Dickerson said in an interview. Read more of this post
November 13, 2013 Leave a comment
Cisco Tries to Shake the Sand From its Gear
DAN GALLAGHER
Updated Nov. 12, 2013 8:35 p.m. ET
Cisco Systems Inc. CSCO +1.22% is staring down a long track with plenty of hurdles. Fortunately, the first bar is pretty low. Wall Street expects Cisco on Wednesday to report adjusted earnings of 51 cents a share for its fiscal first quarter and revenue of $12.35 billion. That would compare with adjusted earnings of 48 cents a share a year earlier on revenue of $11.9 billion. Read more of this post
November 13, 2013 Leave a comment
Cisco rival Arista Networks picks banks for IPO – sources
6:01pm EST
By Nicola Leske and Soyoung Kim
NEW YORK (Reuters) – Arista Networks, a maker of network switches that competes with much bigger rival Cisco Systems Inc, has selected banks to lead a proposed initial public offering for next year, according to people familiar with the matter. Morgan Stanley, Citigroup Inc and Credit Suisse Group will lead the offering that is at an early stage of planning, the people said on Tuesday, asking not to be named because the matter is not public. Read more of this post
November 13, 2013 Leave a comment
At E-Commerce Firms, Russia Rises
Emerging Web-Sales Sector Lures Global Marketplaces and Retailers
JAMES MARSON
Nov. 12, 2013 5:31 p.m. ET
MOSCOW—Russia has become the next big frontier for global e-commerce companies that for years ignored the country because of payment and delivery issues. EBay Inc., China’s Alibaba Group Holding Ltd. and U.K. fashion retailer ASOS PLC are among those moving in to take advantage of Russia’s increasingly wealthy and Internet-savvy population of some 143 million. Read more of this post
November 13, 2013 Leave a comment
84% Of US Adults Don’t Use Twitter, Only 4% Of Americans Over 30 Get Their News From Twitter, Pew Study Finds
Tyler Durden on 11/12/2013 09:39 -0500
When it comes to Twitter, there seems to be a discrepancy in the publicly available user data. Recall that according to the company’s S-1 filing, Twitter’s US monthly user base has risen from 10 million in 2010 to just shy of 50 million. And yet, according to a just released Pew Research poll, a whopping 84% of the US adults were not Twitter users, and perhaps more importantly, of the 16% of adult users, half admitted to using Twitter for news.
November 13, 2013 Leave a comment
3-D Firm Shifts Focus From Movies
ERICH SCHWARTZEL
Nov. 12, 2013 7:09 p.m. ET
RealD Inc. RLD 0.00% told investors it will bring to market 2-D and 3-D consumer electronics in 2014 as it tries to mitigate continued losses due to falling 3-D ticket sales and market saturation in North America. Speaking Tuesday on an earnings conference call, RealD executives withheld most details of the electronics, saying only that they would most likely be with mobile and tablet applications. Some of the electronics will be announced in 2014, while others are expected to come to market within the calendar year. 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。
