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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.

S&P Report Sees Less 'Distress' As Spreads Dip Below Benchmark

1 Groups   
Wall Street Journal - 06.08.2009 Original article ›
Rob Copeland, Rob, Copeland
LyrArc Article Gist
The S&P speculative grade composite index shows that for the first time sine the crisis hit in October of 2009, high yield debt traded June 5, 2009 at 9.66 percentage point premium over comparable Treasurys. This is below the distressed debt benchmark of 10%, and shows how the credit markets are coming back to normal. High yield issuers, who pay a big premium over Treasurys to sell debt have had to pay at spreads which reached apeak of 17.54% in December according to S&P data. The retailing and auto sectors were the hardest hit in 2008. Merril Lynch has its own index which has not dropped below 10%, and which peaked at 22 percentage points in December. On June 4, Merrill's index was at 11.01 percentage points. The last time Merrill's index went above 10% was in 2002, and in 2006 before the crisis the index was at 2.41 percentage points.
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French legislative elections: Voter turnout at 38.11% at 5pm, slightly down from first round

  
France 24 - 06.19.2022 Original article ›
LyrArc Article Gist
Low voter turnout and record abstentions were a significant aspect of the parliamentary election in France. Voter turnout was about 52% in the the first round and expected to be low in the second round.

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Natural-Gas Prices Have Plunged Into Autumn

  
WSJ - 10.30.2022 Original article ›
Ryan Dezember
LyrArc Article Gist
Us natural gas prices are down 40% from August highs after warm autumn weather, record gas production, and gas storage facilities that are filling up fast. This will be a relief for Americans this winter.

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Brazilian President Rousseff’s Downfall Was Years in the Making

5 Groups   
Wall Street Journal - 05.12.2016 Original article ›
Reed Johnson, Reed, Johnson, Luciana Magalhaes, Luciana, Magalhaes
LyrArc Article Gist
Brazil's Senate votes 55 to 22 to impeach president Dilma Rousseff for manipulating financial accounts to cover up a risky budget deficit. With the economy seeing a 3.8% GDP decline in 2015, and unemployment at 10.9%, Rousseff is affected by a stunning decline in popularity to about 10 percent. During the boom years the Workers Party of Rousseff under president Lula enjoyed soaring popularity, which now appears to be in retrospect a result of high commodity prices and subsidies, and not from careful management of the economy. The impeachment also follows corruption investigations of Petrobras with links to the government.
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JN.1 Now Accounts for Nearly Half of U.S. Covid Cases

  
NYTimes.com - 12.29.2023 Original article ›
Knvul Sheikh
LyrArc Article Gist
The latest Covid 19 vaccine introduced in September 2023 has a very low uptake in the US, at about 18%. The JN.1 Covid variant is for which this vaccine is effective is now making up about 50% of the cases of Covid in the US. It was at 7% in November. It is very transmissable and masks are now advised.The Covid related hospitalizations are up 10% to 26,000 in the fourth week of December. Symptoms of this variant are cough, fever, body aches, and fatigue that last for 3-4 days, says this NYT report.

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Plugged-In Age Feeds a Hunger for Electricity

1 Groups   
New York Times - 09.20.2009 Original article ›
Jad Mouawad, Jad, Mouawad, Kate Galbraith, Kate, Galbraith
LyrArc Article Gist
Consumer electronics from the large flat panel tv which consumes more electricity than arefrigerator to other consumer electronics products, take up 15% of household electricity demand. But there are no standards for them that will reduce consumption. These standards were set up for refrigerators and have reduced consumptioon by 45% between 1990 when the standards were set till today. Washers have reduced consumption by 70%. The demand from these gadets will triple over the next 2 decades says the Intenational Energy Agency, making greenhouse gas emissions reduction more difficult. To satisfy growing demand 560 coal fired plants will be needed.
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RIM Profit Falls 58.7%, Raising Doubts

5 Groups   
New York Times - 09.15.2011 Original article ›
Ian Austen, Ian, Austen
LyrArc Article Gist
RIM's Blackberry phones struggle to compete with Apple's iPhone and phones using Google's Android software. RIM's second quarter net income fell by 59% to $329 million, from $797 million in the same quarter prior year. Gross margins declined to 39%, from 46% the prior year. Revenue declined 10% to $4.2 billion. The Playbook tablet computer is also struggling. RIM shares lost 19% of their value in after hours trading following the announcement on Sept 15, 2011. RIM introduced 7 new phones that are updates of existing phones. It is not known when the new phones using the QNX operating system will be available.
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French Car Sales Herald Downturn

6 Groups   
Wall Street Journal - 01.02.2012 Original article ›
David Pearson, David, Pearson
LyrArc Article Gist
New car registrations dropped 18% in December 2011 compared to the same month in 2010. Part of the reason is a government bonus for scrapping older cars offered in 2010. French car registrations for 2011 were down 2.1% over 2010. French car sales have averaged 2 million in the last few years and France's car manufacturers association expects sales at that level for 2012, which is a contraction of 8-10%. Renault will be affected by lower sales. In the first 3 weeks of Dec. 2011 Renault's direct orders declined by 60% compared to the same period in 2010.
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As Euphoria Abounds, Some Warning Signs

8 Groups   
Wall Street Journal - 12.31.2010 Original article ›
Kelly Evans, Kelly, Evans
LyrArc Article Gist
Questions about the euphoria for US stock market performance in 2011. Negative impact of housing market, rise in food and fuel prices, and the precarious condition of state and local government finances, raise concerns about the economy and stock markets for 2011-2012. John Makin sees a one third chance of sovereign debt crisis in the eurozone, and a 40% chance of China not making a soft landing, in a video interview with Wessel of the WSJ, December 30, 2010. This would impact stock markets in the US. WSJ's Brett Arends column also expresses similiar skepticism. Robini sees housing losses in 2011.
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Afghan Pay Demands Signal Troubles to Come

2 Groups   
Wall Street Journal - 02.15.2011 Original article ›
Alistair Macdonald, Alistair, Macdonald
LyrArc Article Gist
In December 2010 and January 2011 fuel prices went up 40% after Iran blocked fuel tankers at the border crossing. After the blockade ended prices still are high compared to before December. The price of wheat went up 80% worldwide with drought conditions and floods in wheat growing areas of the world. Floods in Pakistan have made things worse for food supplies and prices. With a third of Afghanistan's people living below the poverty line this creates huge pressures for higher wages. With the lack of government revenues from taxes the budget is mainly financed by donor countries.
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Indian Road Hits Unexpected Bump

2 Groups   
Wall Street Journal - 09.07.2010 Original article ›
Geeta Anand, Geeta, Anand
LyrArc Article Gist
The difficulties of acquiring land for industrial development or infrastructure building in India. India's Congress party increasingly supporting farmers who are protesting the acquisition of their land. India's highway commisssioner committed in 2009 to building 12 miles of highways each day, but highway officials say only 5 miles of highways have been built. The Congress party plans to propose legislation that requires farmers to be properly compensated- one proposal is to pay farmers the average recorded price plus 50%, as the recorded price used to compensate farmers does not correctly reflect the entire market price including cash paid unofficially.
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Roosevelt Rises, at Last

2 Groups   
Wall Street Journal - 06.03.2012 Original article ›
Robbie Whelan, Robbie, Whelan
LyrArc Article Gist
The memorial to Franklin Delano Roosevelt (FDR) by the American architect Louis Kahn takes shape on Roosevelt Island after a 30 year effort. It sits at the southern end of Roosevelt Island right across the river from the United Nations Plaza. The memorial will open in October 2012. The project cost $53 million with the work starting in October 2010. For years the project lacked funding. The memorial has five parts, an entry, triangular garden, forecourt area, a sculpture court and the "Room" which provides a meditation place for reflecting on Roosevelt's legacy and the Four Freedoms of speech, worship, want and fear.
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P&G to Shed More Than Half Its Brands

10 Groups   
Wall Street Journal - 08.02.2014 Original article ›
Serena Ng, Serena, Ng
LyrArc Article Gist
P&G CEO Lafley, says the company will shed about 90-100 smaller brands that generate about 10% of sales so that it can focus on the bigger brands such as Tide, Pampers, and others. Era, Cheer laundry detergent, Metamucil are some of the smaller brands. Lafley says its not size alone but whether its the preferred brand of shoppers. One such sale was pet food brands for $1 billion. About $8 billion can be generated in this way. At the same time P&G is moving into related brands such as the adult pamper business.
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Robust Sales of Jeeps and Rams Lead Big Increase for Chrysler

11 Groups   
New York Times - 11.03.2014 Original article ›
Aaron M. Kessler, Aaron, M., Kessler
LyrArc Article Gist
A look at the automobile market in the U.S. in October 2014 shows a large increase in SUV sales. Sales of the Jeep brand increased by over 50%, and Dodge Ram by 33% in Oct. 2014, compared to the month in 2013. Sales of the Honda Civic declined by 9%. Chrysler gained market share reaching 13.3%, with sales concentrated on the RAM and Jeep brands. Japanese makers had about 35% of the market, compared to about 46% for American brands Ford, GM and Chrysler. GM had 17.7% share in the U.S. market, Ford 14.7%, Toyota 14.1%.
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Wal-Mart's Big-Box Formula Comes Under Strain

9 Groups   
Wall Street Journal - 02.21.2014 Original article ›
Shelly Banjo, Shelly, Banjo, Michael Calia, Michael, Calia
LyrArc Article Gist
Wal-Mart's efforts to boost its smaller stores as customers go to competitors when they make midweek trips for small basket size fill-in supplies. Sales at Wal-Mart for the year ending Jan 31, 2014, show flat sales. By comparison sales at its smaller stores and neighborhood markets were up 5%. Online sales were up 30% to $10 billion and are growing rapidly. Wal-Mart's sales forecast for 2014 are for sales to increase modestly by 3%. It will incur additional $330 million in benefit costs for healthcare under the new law for workers signing up for its healthcare plan.
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Former Greek Defense Minister Convicted of Graft

3 Groups   
Wall Street Journal - 10.07.2013 Original article ›
Nektaria Stamouli, Nektaria, Stamouli, Alkman Granitsas, Alkman, Granitsas
LyrArc Article Gist
Akis Tsochatzopoulos, 74, a former defense minister from the socialist Pasok Party, is given a 20 year sentence for taking 55 million euros in bribes from a number of arms deals. He was defense minister from 1996 to 2001, and the charges relate arms purchases in that period of Russian TOR-M1 short range missiles and German submarines. He is already serving a eight year sentence for other offenses. Submarine deals with Germany at what were thought to be inflated prices were a topic of discussion as the Greek crisis and unemployment worsened in 2010-2012.
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In India, iPhone Lags Far Behind

2 Groups   
Wall Street Journal - 02.27.2013 Original article ›
Dhanya Ann Thoppil, Dhanya, Ann, Thoppil, Amol Sharma, Amol, Sharma, Jessica E. Lessin, Jessica, E., Lessin
LyrArc Article Gist
Apple's 5% smartphone market share in India lags behind Sony at 9% and Samsung at 40% for 4th quarter 2012, according to Canalys. India is expected to become the third largest market for smartphones after China and the U.S. A major problem for Apple is India's multilayered distribution network, says Apple CEO Cook. Government rules require Apple to source 30% of parts in India to be able to open its own store network. Apple is also working on lower priced smartphones for the Indian market closer to Samsung's starting price of $111 for Galaxy smartphones in India.
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European Investors Grab Corporate Debt

  
Wall Street Journal - 05.27.2009 Original article ›
Neil Shah, Neil, Shah
LyrArc Article Gist
Investors have bought $268 billion of corporate bonds in Europe so far this year 2009. The bond market has rebounded strongly as investors see bonds as cheap according to one portfolio manager. THey range from highly raterd bonds like EDF, to bonds with junk ratings like brewer Carlsberg and building materials maker Lafarge SA. Companies are issuing bonds to bolster their finances and as aprecaution if the credit markets tighten up again. European companies get about 70% of their funding from banks compared to 30% in the USA. This is bringing to life large stretches of Europe's markets and helping businesses finance operations.
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Short Memories at Goldman

2 Groups   
New York Times - 10.24.2009 Original article ›
Joe Nocera, Joe, Nocera
LyrArc Article Gist
Goldman is no longer aprivate partnership. It is apublicly traded firm. Which publicky traded firm pays 50% of its profits as bonuses, asks Joe Nocera of the NYT. And which publicly traded firm can do so with the knowledge that the government would never let it fail. And he asks wasn't it the cheap money that Goldman had access to that was abig source of its large profits. And at the point when Goldman was allowed to become abank holding company along with Morgan Stanley were there no trepidations at Goldman that the firm might fail?
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Voters in Kashmir Defy Separatists' Election Boycott

  
Wall Street Journal - 12.28.2008 Original article ›
Niraj Sheth, Niraj, Sheth
LyrArc Article Gist
About a 60% turnout of voters in Kashmir with 80% of the state's districts reporting, is higher than in the last election which had a turnout of 44% in 2002. This shows declining support for militants in Kashmir. The two parties with the largest seats in the 87 member legislative assembly are the National Conference Party with 28 seats, and the People's Democratic Party with 18 seats projected to reach 21 seats. The National Conference Party is expected to form a coalition with the Congresss Party which heads the ruling coalition for the federal government in New Delhi.
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Citigroup Is Keeping a Japan Unit, Nikko Cordial

1 Groups   
Wall Street Journal - 01.15.2009 Original article ›
Alison Tudor, Alison, Tudor
LyrArc Article Gist
Citigroup will keep Nikko Cordial, Japan's third largest brokerage firm, for which it paid 1.6 trillion yen or $17.95 billion in 2008 before the global financial crisis. The hope is that it will be worth a lot more in future years as Japanese households with $15 trillion in assets mostly in cash buy more financial products from Nikko. Today only 10% of Japanese assets are invested in stocks and other similiar financial assets, compared to 30% in the USA. Citigroup is also keeping the retail banking business of Grupo Financiero Banamex in Mexico as part of its overseas expansion strategy.
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Thain Resigns From BofA

7 Groups   
Wall Street Journal - 01.22.2009 Original article ›
Dan Fitzpatrick, Dan, Fitzpatrick
LyrArc Article Gist
Bank of America CEO loses confidence in Thain after a brief meeting on January 22, 2009, in which Thain was asked about mounting losses at Merrill, which Lewis had learned of from other Merrill executives and not from Thain. Lewis says he could not get agood explanation of what was happening or why. Thain was head of Merrill when Bank of America made the $50 billion acquisition of Merrill on Sept 15, the same week that Lehman Brothers collapsed. Merrill was in a perilous situation with the government intervening to arrange the acquisition on short notice.
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Plans Emerge for New Troop Deployments to Afghanistan

2 Groups   
Wall Street Journal - 02.04.2009 Original article ›
Yochi J. Dreazen, Yochi, J., Dreazen
LyrArc Article Gist
Map shows new troop deployments for tens of thousands of new troops (20 to 30 thousand) to be sent to Afghanistan under the new strategy to salvage the situation there. All of these new troops will go into the countryside and especially in the opium growing region in the south and Helmand valley region. And also on the border with Pakistan. This will effectively double the number of American troops in Afghanistan. The boom in growing opium in the south has increased the funding of Taliban insurgents to hire new trrops and to get new weapons.
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Perhaps a reason to be cheerful?

  
Economist - 02.19.2009 Original article ›
Economist.Com
LyrArc Article Gist
Increased bank lending in China with lending going up by 20% in January 2009, suggest that state owned banks are following instructions to increase lending from the government. As bank and household balance sheets are healthy and domestic debt has fallen relative to GDP in recent years, the bank lending situation appears healthy. Medium and long term lending has increased strongly. The central bank plans to finance only 30% of the stimulus spending of $585 billion infrastructure package, banks will provide much of the rest. According to ING analyst Condon, transport infrastructure spending was up 61% over ayear earlier in December.
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Original article 3 minutes, gist 1 minute

Prescription-Drug Sales Growth Is Expected to Slow

2 Groups   
Wall Street Journal - 11.01.2007 Original article ›
Jeanne Whalen, Jeanne, Whalen
LyrArc Article Gist
Global sales growth will be from developing countries as US sales slow down to the rate of a 4-5% growth, losing 1 percentage point and be at the level growth is in Europe. This growth will mean U.S. sales of 305 billion dollars in 2009 for pharmaceuticals. Next year two thirds of prescriptions will be generics, increasing from 50% in 2003. Forecasts from IMS. Also FDA is taking a tougher line in regulation. Top seven emerging markets will grow at 12 to 13% a year in contrast- from improving economies and greater demands for spending on health care.
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