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LyrArc brings in selected articles from many of the world's top publications.

Articles are selected by experts and you can see the gist of the important articles.


Wall Street Journal Original article ›
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Amazon workers in Germany and the U.S. protest low wages. Amazon has about 9000 employees at 9 logistics centers in Germany. The company gets $8.7 billion of global sales of $61 billion from Germany. The retail and mail order sector in Germany has higher wages than the logistics sector. Amazon classifies its employees as being in the logistics sector. Amazon is using 14,000 temporary workers in Germany to cope with the protests and strikes during the Christmas season. It is also using its Europe wide network to cope.
New York Times Original article ›
LyrArc Article Gist
Jorg Asmussen, Germany's representative on the ECB'S Executive Board, will take the position of deputy secretary in the Labor Ministry in the new coalition government of Angela Merkel with the SDP. He moves to Berlin from Frankfurt to be close to his two small children and family, who continued to live in Berlin after Asmussen moved to Frankurt ECB headquarters. Germany is likely to nominate Sabine Lautenschlager, member of the executive board of the Bundesbank, to Asmussen's position on the executive board of the ECB. The ECB Governing Council, including the six member executive board and the heads of 17 central banks, will now have the first female member. Ms. Lautenschlager's expertise is in banking regulation, which is relevant today because of the ECB's new role as regulator of banks in the eurozone. Asmussen, who is from the SDP, assumes a position under Labor minister Andrea Nahles. He will be responsible for introduction of the national minimum wage, which was a key demand of the SDP for joining the coalition with Merkel....
New York Times Original article ›
New York Times Original article ›
New York Times Original article ›
LyrArc Article Gist
Under new CEO, Georges Plassat, Carrefour focusses more on Europe and reduces expansion in emerging markets. As part of this strategy Carrefour buys 127 malls in which it operates stores and forms a separate propoerty company in which it owns 42%. This reverses the decision in 2001 to sell 150 malls partly to finance the push into China, Brazil and Argentina and other European countries. The prior CEO, Lars Olofsson, increased emphasis on hypermarket stores and expanded presence in emerging markets. Carrefour share price took a 60% drop in 2010-2012 and is gradually recovering. Plassat's strategy is to go back to focus on Europe and withdraw from poorly performing places such as Greece, Portugal, Indonesia and Columbia.
New York Times Original article ›
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The Italy's Moncler retail chain of stores selling designer winter jackets made its IPO on the Borsa Italiana in Milan. It was heavily oversubscribed and up 47% to euros 14.97. Moncler is named after a mountain village in Grenbole, France, and has become a global fashion brand. It has 122 stores and online retail, with revenue of 489 million euros in 2012. Ruffini bought the company in 2003 has 32% stake, Eurazeo French investment company has 45%, and Carlyle Group has the remaining stake.
New York Times Original article ›
New York Times Original article ›
New York Times Original article ›
LyrArc Article Gist
Fuller looks at the effects of the image of the monarchy in Thailand as a revered institution and the six decades of the monarchy under King Bhumibol Adulyadej, 86 years old. Protesters in Bangkok, the central and southern part of Thailand, see the King and the old order challenged by the emergence of Thaksin Shinawatra with supporters in the rural northeast. This is another dimension of the political struggle in Thailand. Shinawatra has won elections since 2001 with his base in the northeast, till the coup in 2006 that ousted him and the recent election of his sister Yingluck Shinawatra. The political system has no way to accomodate the interests of the Bangkok region which has most of the business and commercial interests and major universities, leading to protests. The regional urban-rural divide further splits the country.
New York Times Original article ›
Wall Street Journal Original article ›
Wall Street Journal Original article ›
New York Times Original article ›
LyrArc Article Gist
Judge Rakoff is interviewed by Adam Liptak as an essay by Rakoff appears in the December 22 issue of The New York Review of Books. Judge Rakoff is critical of the Justice Department for not prosecuting individuals responsible in the 2008-2009 financial crisis and merely offering excuses. He discounts the Justice Department argument that proving intent is difficult or that proving fraud is hard because of the sophisticated counterparties on both sides. He says assistant attorney general in the criminal division Bauer's assertion that you have to prove the individual involved made a false statement, intended to commit a crime, and that the other side depended on this for what they were doing, is misleading. The government is not required to prove that one party to a transaction relied on another party. On the difficulty to prove wilful criminal intent for individuals several layers above those who made and marketed the bad securities, Rakoff says the legal doctrine of wilfull blindness could have been used. Reflecting on why the Justice Department has not prosecuted individuals for wrongdoing the way Milken, Keating and Skilling were prosecuted in prior financial crises, Rakoff comes up with a explanation. He says the government's own role and the role of firms throughout the financial system is suspect in the 2008-2009 financial crisis unlike prior crises. Not only regulators are failing to to do their job. The financial system offers incentives for the packaging of bad debt securities. Fannie Mae has government backing and its management buys these securities to expand access to housing for low income people. The profits made on these securities brings U.S. and foreign banks into this business and leads to a proliferation of these securities around the globe to the point that small towns near the North Pole end up with these securities in their portfolio. This complicates things for prosecutors who in some situations have themselves worked for banks selling these securities. In its slow deliberative way the Obama administration, the Justice Department, and the S.E.C.'s new head, move to prosecute firms during the administration's second term, but not enough is done and tackling individual responsibility for deterring future wrongdoing in the interests of a safe and fair financial system seems a long way off....
New York Times Original article ›
LyrArc Article Gist
Judge Richard Leon of the District of Columbia agrees with Senators Wyden, Udall and Heinrich that the NSA's bulk collection of phone data program in the U.S. violates the Fourth Amendment of the U.S. Constitution. This is the first successfu legal challenge to the program. It was put forward by Larry Klayman, a conservative public-interest lawyer. The American Civil Liberties Union has filed a similiar lawsuit in the Southern District of New York. In his ruling Judge Leon, appointed by president Bush in 2002, said: "I cannot imagine a more indiscriminate and arbitrary invasion than this systematic and high tech collection and retention of personal data on virtually every single citizen for purposes of querying and analyzing it without prior judicial approval. Surely such a program infringes on that degree of privacy that the founders enshrined in the Fourth Amendment." Judge Leon stayed his injunction for 6 months so that the government can appeal his ruling because of the national security interests involved. The U.S. government's case was made with the argument that there are no fourth Amendment protections for collection of metadata information such as numbers called and received, date and time and duration as reflected in the 1979 case, Smith v. Maryland. Judge Leon rejected this saying that in the 34 years since that case the whole relationship of people with the phone has changed and the record collection with today's technology reveals a constantly updating picture of a person's life....
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
The details of the deal negotiated by the EU, Germany, France and other eurozone countries for a Single Resolution Mechanism, Single Resolution Board and Single Resolution Board in December 2013.
Wall Street Journal Original article ›
Wall Street Journal Original article ›
LyrArc Article Gist
Rapid growth in SUV sales in China in 2011-2014. SUV sales increased by 49% in 2013 over 2012.
Washington Post Original article ›
LyrArc Article Gist
Washington Post's Kevin Sullivan and Linda Davidson on a project to follow the stories of Syrian refugees in the region around Syria.
Washington Post Original article ›
LyrArc Article Gist
The stories of Syrian refugees from the Ramtha Cemetery in Jordan.
New York Times Original article ›
LyrArc Article Gist
The new retail store experience at tech and electronics stores, including new stores of AT&T and Verizon Wireless.
New York Times Original article ›
New York Times Original article ›
LyrArc Article Gist
Keller reflects on Putin and Russia's effort to pull Ukraine away from the European Union as protests continue in Ukraine.
New York Times Original article ›
New York Times Original article ›
LyrArc Article Gist
Michelle Bachelet wins Chile's presidential election with 62% of the vote in Dec. 2013.

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