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Forbes (June 27)

2012/ 06/ 30 by jd in Global News

“The euro is going to survive despite all the crises and the growing punditry consensus that this experiment is doomed to fail. The currency will live on for political reasons—Germany and France want it to.”

“The euro is going to survive despite all the crises and the growing punditry consensus that this experiment is doomed to fail. The currency will live on for political reasons—Germany and France want it to.”

 

New York Times (June 27)

2012/ 06/ 29 by jd in Global News

Japanese shareholders are “starting to show their teeth.” Shareholders have been unusually vocal at the annual general meetings of major Japanese companies this year. “Shareholder meetings this summer have been marked by a flurry of proposals from investors challenging the management—opposing board appointments, for example, or simply expressing anger at executives.”

Japanese shareholders are “starting to show their teeth.” Shareholders have been unusually vocal at the annual general meetings of major Japanese companies this year. “Shareholder meetings this summer have been marked by a flurry of proposals from investors challenging the management—opposing board appointments, for example, or simply expressing anger at executives.”

 

Institutional Investor (June 26)

2012/ 06/ 28 by jd in Global News

“Despite the rise in prominence of environmental, social and corporate governance issues, many corporations still do not include ESG risks into their financial performance.” Part of the problem is the lack of a robust international framework, but progress is being made with the London-based International Integrated Reporting Committee expected “to release a prescriptive integrated framework that provides guidance details for measurements by industry sector by mid-to-late next year. Prior to that, GRI will publish their own prescriptive, but not as detailed, framework by next May.” Another issue, however, is data collection. Companies will “need the processes and controls to collect the data” for ESG reporting. Ultimately, Institutional Investor believes, “getting ESG risk in financial statements may need investor muscle…. It may be up to a few active ESG investors to push changes at the board level.”

 

Forbes (June 25)

2012/ 06/ 27 by jd in Global News

“The fundamental importance of sound money has been virtually forgotten by the economics ­profession today, even though no country has ever achieved sustained prosperity without it. A stable currency is the foundation for the literally billions of transactions and economic arrangements that make growth possible. To simplify, imagine how difficult it would be to function if the number of minutes in an hour were constantly changing. Even cooking would be problematic.”

“The fundamental importance of sound money has been virtually forgotten by the economics ­profession today, even though no country has ever achieved sustained prosperity without it. A stable currency is the foundation for the literally billions of transactions and economic arrangements that make growth possible. To simplify, imagine how difficult it would be to function if the number of minutes in an hour were constantly changing. Even cooking would be problematic.”

 

The Economist (June 23)

2012/ 06/ 26 by jd in Global News

Business-process outsourcing (BPO) has been a boon for the Philippines. “Today the sector employs 638,000 people and enjoys revenues of $11 billion, about 5% of the country’s GDP. Last year the Philippines even overtook India, long the biggest call-centre operator in the world, in ‘voice-related services.’ The country now employs about 400,000 people at call centres, India only 350,000.” And the Philippines predicts that the number of BPO jobs could grow to over 1.3 million by 2016, with revenues of $25 billion.

Business-process outsourcing (BPO) has been a boon for the Philippines. “Today the sector employs 638,000 people and enjoys revenues of $11 billion, about 5% of the country’s GDP. Last year the Philippines even overtook India, long the biggest call-centre operator in the world, in ‘voice-related services.’ The country now employs about 400,000 people at call centres, India only 350,000.” And the Philippines predicts that the number of BPO jobs could grow to over 1.3 million by 2016, with revenues of $25 billion.

 

The Atlantic (June 23)

2012/ 06/ 25 by jd in Global News

As China has boomed so have obesity rates. “The number of Chinese people who are obese quintupled between 2005 and 2011, to nearly 100 million people. The World Health Organization estimates that 38.5 percent of the population was overweight in 2010, up from 25 percent in 2002. Male children from high-income families have an especially high rate of obesity.”

As China has boomed so have obesity rates. “The number of Chinese people who are obese quintupled between 2005 and 2011, to nearly 100 million people. The World Health Organization estimates that 38.5 percent of the population was overweight in 2010, up from 25 percent in 2002. Male children from high-income families have an especially high rate of obesity.”

 

Wall Street Journal (June 21)

2012/ 06/ 24 by jd in Global News

In a move that “could add to the unease plaguing global markets,” Moody’s “downgraded more than a dozen global banks, including the five largest U.S. banks with global trading arms, to reflect declining profitability in an industry that is being rocked by soft economic growth, tougher regulations and nervous investors.”

 

Financial Times (June 20)

2012/ 06/ 23 by jd in Global News

In the UK, “pay packages for FTSE 100 chief executives have quadrupled since 1998—from an average of £1m to £4.2m.” Shareholders have responded with “rebellions” at major companies including Aviva, Barclays and WPP. Now Business Secretary Vince Cable is also taking aim, promising “the most comprehensive reforms of boardroom pay for a decade by giving shareholders binding votes on pay policy and forcing companies to make executive pay more transparent.”

 

New York Times (June 19)

2012/ 06/ 21 by jd in Global News

Finally, the “leaders of the Group of 20 top economies managed to say some of the right things…. The question now is whether these words will ever translate into effective action. If the past two years of the euro crisis is any guide, the likely answer is no.” The Times places much of the blame with Germany’s Chancellor Angela Merkel for a “relentless insistence on self-defeating austerity and piecemeal rescue plans.”

Finally, the “leaders of the Group of 20 top economies managed to say some of the right things…. The question now is whether these words will ever translate into effective action. If the past two years of the euro crisis is any guide, the likely answer is no.” The Times places much of the blame with Germany’s Chancellor Angela Merkel for a “relentless insistence on self-defeating austerity and piecemeal rescue plans.”

 

Institutional Investor (June 18)

2012/ 06/ 20 by jd in Global News

“The relief rally that followed Sunday’s rather limited victory for euro zone unity in the Greek general election has proved unusually faint-hearted and short-lived, with the euro down sharply against the dollar despite initially climbing to a one-month high.” As if to emphasize that Greece is but one problem confronting Europe, yields on ten-year Spanish bonds rose “to a euro-era record above 7 percent.”

 

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