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Financial Times (April 27)

2012/ 04/ 30 by jd in Global News

The Spanish people were willing to suffer austerity when Prime Minister Mariano Rajoy “sent the people of Spain a message of hope for the future.” Now the hope is gone and “Mr Rajoy finds himself in an impossible situation. For all the talk of European solidarity, the EU has insisted that his deficit-reduction plan should proceed at an excessive pace. This was bound to trigger a popular backlash.” A similar backlash is rising up in Italy and the Netherlands. “Citizens may have been favourable to their initial message of austerity for a higher cause, but they will not tolerate being led into a dead-end.”

 

The Independent (April 25)

2012/ 04/ 29 by jd in Global News

In the UK, the economy slid “back into negative growth – it shrank by 0.2 per cent in the first quarter, after contracting by 0.3 per cent in the last quarter of 2011,” marking the first double-dip recession since 1975. A “more aggressive growth strategy” is needed. This should involve “targeted tax breaks and a serious assault on red tape to help instil business confidence.”

 

Wall Street Journal (April 24)

2012/ 04/ 28 by jd in Global News

“Europe’s voters have already swept several governments from office, and they seem ready to sweep out more. But what really needs to be swept away is the dominant and debilitating consensus that government spending can conjure prosperity.”

 

New York Times (April 23)

2012/ 04/ 27 by jd in Global News

The United States Postal Service (USPS) has been hard by declining volume. “Bread-and-butter revenue from first-class mail has been evaporating as most bills are now paid on the Internet.” As a result, the USPS is planning to file for bankruptcy on May 15, unless Congress provides approval to close 3,700 post offices, combine regional processing centers and quit delivering the mail on Saturday. The New York Times believes Congress should provide the USPS with the flexibility is seeks.

The United States Postal Service (USPS) has been hard by declining volume. “Bread-and-butter revenue from first-class mail has been evaporating as most bills are now paid on the Internet.” As a result, the USPS is planning to file for bankruptcy on May 15, unless Congress provides approval to close 3,700 post offices, combine regional processing centers and quit delivering the mail on Saturday. The New York Times believes Congress should provide the USPS with the flexibility is seeks.

 

Wall Street Journal (April 23)

2012/ 04/ 26 by jd in Global News

Delhi is smart not to “trust” Beijing or simply “rely” on Washington. “India’s successful test of an Agni-V long-range, nuclear-capable missile shows the shrewdness of the world’s largest democracy. Delhi has looked past smokescreens from Beijing and Washington to judge hard realities.”

 

Euromoney (April Issue)

2012/ 04/ 24 by jd in Global News

“Asian sovereigns are overtaking advanced western economies in their financial and economic stability.” With the input of 400 economists and specialists, Euromoney conducted its latest country risk survey. The results reveal a “profound shift in global perceptions.” Six Asian countries (Indonesia, Singapore, Hong Kong, Malaysia, Taiwan and Macau) have advanced more than 10 places in the rankings and Singapore is now considered the world’s second-safest sovereign. In contrast, the highest ranking Eurozone country is Finland in fifth place. Hong Kong was rated the tenth safest, trumping Germany which stands at thirteenth.

 

Industry Week (April 20)

2012/ 04/ 23 by jd in Global News

Changing economics are starting to favor manufacturing in the U.S. A study by the Boston Consulting Group (BCG) found that over “a third of U.S.-based manufacturing executives at companies with sales greater than $1 billion are planning to bring back production to the United States from China or are considering it.” Larger companies with revenues of at least $10 billion are even more enthusiastic, with 48% considering reshoring. Considerations driving this new trend include labor costs, product quality, ease of doing business, and proximity to customers.

 

Bloomberg (April 20)

2012/ 04/ 22 by jd in Global News

“The Tokyo Stock Exchange’s worst breakdown in six years has forced a rethink of the role alternative trading platforms play in ensuring that shares of some of the world’s biggest companies keep changing hands.” A February 2 computer glitch halted trading on many of the TSE’s biggest stocks. In the future, the Japan Securities Dealers Association will allow alternative trading platforms such as Chi-X Japan and SBI Japannext to continue trading if the TSE suffers another disruption. This will ensure that trading is possible even when the TSE breaks down.

“The Tokyo Stock Exchange’s worst breakdown in six years has forced a rethink of the role alternative trading platforms play in ensuring that shares of some of the world’s biggest companies keep changing hands.” A February 2 computer glitch halted trading on many of the TSE’s biggest stocks. In the future, the Japan Securities Dealers Association will allow alternative trading platforms such as Chi-X Japan and SBI Japannext to continue trading if the TSE suffers another disruption. This will ensure that trading is possible even when the TSE breaks down.

 

CBS (April 19)

2012/ 04/ 21 by jd in Global News

First New York banned cigarettes in workplaces, then parks and beaches. Now, Mayor Michael Bloomberg wants to make it easier for residents to find smoke-free housing. His proposal would require that potential renters and apartment buyers be informed of a building’s smoking policy. The Mayor explained his reasoning. “Because of air circulation in buildings, if you smoke in one apartment, other people in the building do get some of that smoke.”

First New York banned cigarettes in workplaces, then parks and beaches. Now, Mayor Michael Bloomberg wants to make it easier for residents to find smoke-free housing. His proposal would require that potential renters and apartment buyers be informed of a building’s smoking policy. The Mayor explained his reasoning. “Because of air circulation in buildings, if you smoke in one apartment, other people in the building do get some of that smoke.”

 

Business Green (April 18)

2012/ 04/ 20 by jd in Global News

A new report from McKinsey “predicts solar power will be cost competitive with fossil fuels in hot countries within two to three years.” Capacity is likely to double within five years. The consulting firm’s report also predicts that costs will decrease 10% annually through 2020 when “costs could decline to $1 per watt peak (Wp) for a fully installed residential system.”

 

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