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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.

Embassy Assault in Iran Dramatizes Internal Feud

8 Groups   
Wall Street Journal - 11.30.2011 Original article ›
Farnaz Fassihi, Farnaz, Fassihi, Alistair Macdonald, Alistair, Macdonald
LyrArc Article Gist
The British Embassy in Tehran is stormed on Nov. 29, 2011, by protesters from the student wing of the Basij militia, a volunteer militia organized by the Islamic government to protect the governing party loyal to Ayatollah Khamanei. This comes after Britain joined the U.S. and Canada in sanctions against the Iran for nuclear weapons development. The sanctions will keep Iran's banking sector out of the U.K. financial system.
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For Britain, Another Step Away From Europe

8 Groups   
New York Times - 12.11.2011 Original article ›
Landon Thomas Jr., Landon, Thomas, Jr.
LyrArc Article Gist
Landon Thomas Jr. asks the question now on the minds of many bankers in the City of London- did the conditions British prime minister present to the EU leaders at the summit on Dec 9, 2011, help or hurt the City of London and Britain's financial sector? Will the City now have to deal with rules set by the other 26 countries, with Britain's role in their formulation marginalized.
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Toyota Targets Global Sales

3 Groups   
Wall Street Journal - 12.21.2010 Original article ›
Yoshio Takahashi, Yoshio, Takahashi
LyrArc Article Gist
Toyota says it plans to sell 8.61 million vehicles worldwide in 2011, up from an estimated 8.37 million vehicles sold in 2010. This includes sales by Daihatsu and Hino Motors. The increase in overseas sales by 8% will offset slowing sales in Japan, where sales will slump after the end of a government incentive program. The decline in Japan is for a drop by 12% to 1.93 million vehicles.
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Peter Bouckaert - Watching a new beginning in Egypt

6 Groups   
Washington Post - 01.29.2011 Original article ›
Peter Bouckaert, Peter, Bouckaert
LyrArc Article Gist
The night of January 29, 2011, in Alexandria Egypt, as the Egyptian people of all classes of society, ordinary citizens, overcome massive police presence and tear gas. The writer directs the global emergencies program at Human Rights Watch. He saw firsthand the attacks by security forces of the Mubarak regime on unarmed protestors calling for Mubarak to step down after 30 years of autocratic rule, and the restoration of basic freedoms.
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Japan's Yen Rises Above War Jitters, Deflation

7 Groups   
BusinessWeek - 05.27.2010 Original article ›
Yasuhiko Seki, Yasuhiko, Seki
LyrArc Article Gist
Japan is suffering from deflation, the public debt is a record 883 trillion yen or $9.78 trillion, and Premier Hatoyama was unable reduce spending. Yet the Japanese yen went up by 4% in May 2010. It went up by 11.5% vs the Euro. The causes lie in the weakness of the U.S. and European economies and the huge trade surpluses from Japanese exports, over $28 billion in 2009.
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Original article 1 minute, gist 1 minute

Apple's Move Puts Spotlight on Foreign Cash Holdings

1 Groups   
Wall Street Journal - 03.20.2012 Original article ›
Maxwell Murphy, Maxwell, Murphy
LyrArc Article Gist
Apple has foreign cash holdings of $64 billion, as of the end of the last fiscal quarter, which increased by 82% over the prior year. Its U.S. holdings are $34 billion, increasing by 37% over the prior year. Companies that repatriate funds from overseas get credit for taxes paid overseas, but pay the difference up to the corporate tax rate of 35%. This acts as a disincentive to bring back funds.
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Europe's Economic Suicide

2 Links 1 Groups   
New York Times - 04.15.2012 Original article ›
Paul Krugman, Paul, Krugman
LyrArc Article Gist
Krugman calls the fiscal compact agreement in Europe and the efforts to impose austerity measures- at a time of 24% unemployment in Spain- simply insane and a form of economic suicide. A different view was expressed by Martin Feldstein in the WSJ, April 5, 2012, Europe Needs the Bond Vigilantes, in which he pointed to areas in the Fiscal Compact agreement for Europe that do not impose strict spending limits.
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ABCs of Economic Renewal

  
Wall Street Journal - 04.19.2012 Original article ›
David Wessel, David, Wessel
LyrArc Article Gist
After working on improving schools in large cities like Chicago, Philadelphia and New Orleans, Paul Vallas is working on improving the school system in Bridgeport, Connecticut. Bridgeport is typical of parts of America's industrial areas, which now face shortage of funds and failing schools. Dropout rates in the school system are between 23-45%. And only 10% of tenth graders can read and do math to meet the state standards.
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J.C. Penney Posts Loss; Stock Slumps

4 Groups   
Wall Street Journal - 05.15.2012 Original article ›
Nathalie Tadena, Nathalie, Tadena
LyrArc Article Gist
Penney's sales fell by 20% in its fiscal first quarter for 2012. Penney is going through a transformation from a promotional retailer to one that focuses on everyday value and presentation, under Ron Johnson, former Apple executive for retail stores. As part of the restructuring Penney will reduce staff by 15% at its Plano, Texas headquarters. Penney showed a loss of $163 million for the quarter, including restructuring costs.
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Three Fears for Facebook as IPO Approaches

1 Links 14 Groups   
Wall Street Journal - 05.17.2012 Original article ›
Rolfe Winkler, Rolfe, Winkler
LyrArc Article Gist
The problems with the the Facebook IPO price include the extremely high valuation of 42 times current earnings, says Winkler, especially considering the learning curve for making advertising effective on a social network platform. This suggests large volatility in the share price before settling down. The fact that Goldman Sachs, Accel and other so--called "smart money" is selling about half of their holdings also is cause for concern.
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Brazil Flexes Strong Arm to Reverse Slowdown

1 Links 7 Groups   
Wall Street Journal - 05.31.2012 Original article ›
John Lyons, John, Lyons
LyrArc Article Gist
WSJ's John Lyons interviews Brazil's finance minister Guido Mantega in May 2012. Mantega says Brazil is following a"developmental economics" model for growth, which is more appropriate for Brazil. This includes credit expansion and loans to the auto industry by state owned bank Banco de Brasil in 2012, in an effort to revive growth. He sees the 20% decline in the value of the Brazilian currency, the real, helping increase exports.
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European Central Bank Head, Draghi, Has New Powers

1 Links 13 Groups   
New York Times - 07.02.2012 Original article ›
Nicholas Kulish, Nicholas, Kulish, Jack Ewing, Jack, Ewing
LyrArc Article Gist
The June 28, 2012 EU deal is expected to increase the role of the European Central Bank in addressing the eurozone crisis with powers of banking regulation and supervision and direct capital aid to Spanish banks. Mario Draghi's experience with the Bank of Italy and in dealing with different Italian governments has prepared him for the difficult task of making sure governments in the eurozone make responsible decisions for eurozone finances.
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French Yields Go Negative

8 Groups   
Wall Street Journal - 07.09.2012 Original article ›
Neelabh Chaturvedi, Neelabh, Chaturvedi, Emese Bartha, Emese, Bartha
LyrArc Article Gist
Yields on France's government bonds turned negative on July 9, 2012. As the pool of bonds from haven countries such as Holland and Germany is shrinking, France with its deep and sizable debt market is benefitting. France was able to sell 3.9 billion euros of 13 week Treasury bills at a yield of -0.005 and 2 billion euros of 24 week bills at an average yield of -0.006.
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Germany to Go Nuclear-Free by 2022

  
Wall Street Journal - 05.30.2011 Original article ›
Patrick Mcgroarty, Patrick, Mcgroarty, Jan Hromadko, Jan, Hromadko
LyrArc Article Gist
The German government announces that it will completely phase out the use of nuclear energy by 2022. It will also close immediately eight of the oldest and least safe nuclear reactors. Germany generated 23% of its nuclear energy in 2010. This decision takes the situation back to 2002 when a centre-Left Social Democrat-Green party coalition made a similiar decision to phase out the use of nuclear power.
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India's Congress Party Firmly Routed

8 Groups   
Wall Street Journal - 05.17.2014 Original article ›
Niharika Mandhana, Niharika, Mandhana
LyrArc Article Gist
After a general debacle the Congress party gains ony 44 seats in India's parliament, the lowest since independence in 1947. The BJP party under Modi gains 282 seats and sweeps the north, centre and west of the country, and parts of the south and east. Younger voters in overwhelming numbers voted against inept governance and corruption under the Congress led government of Manmohan Singh and party leader Sonia Gandhi.
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Election Win by Ruling Party Signals Change in Japan

4 Groups   
New York Times - 07.21.2013 Original article ›
Martin Fackler, Martin, Fackler
LyrArc Article Gist
Japan's LDP party of prime minister Abe wins a majority in the elections for the upper house of parliament. Only about 32% of the voters cast their vote, compared to 40% in the previous upper house election. The LDP lacks the two thirds majority required to revise the Japanese constitution. It now controls both houses of parliament, making it possible for prime minister Abe to implement his economic policies.
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A Slowdown on the Road to Recovery

1 Links 5 Groups   
Wall Street Journal - 10.14.2013 Original article ›
Bob Tita, Bob, Tita
LyrArc Article Gist
According to the American Society of Civil Engineers over 10% of the 607,000 bridges in the U.S. are structurally deficient. And 42% of U.S. highways are congested. A poor transportation system makes the U.S. less competitive. The cost to U.S. businesses from a poorly funded and maintained transportation system is about $430 billion more in operating expenses by 2020 and $1.7 trillion in lost opportunities, according to ASCE.
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A Jobless Dilemma: What's Wrong With Fort Wayne?

1 Links 6 Groups   
Wall Street Journal - 12.07.2012 Original article ›
Mark Peters, Mark, Peters, David Wessel, David, Wessel
LyrArc Article Gist
Unemployment in Fort Wayne, Indiana, is 6.8%, and 14,600 workers are looking for a job. Peters and Wessel talk to employers in this midwestern U.S. city and find that employers are looking for people in manufacturing with just the right set of skills, in other cases the benefits and parttime local school system jobs paying $8-$12 per hour with no benefits go unfilled because of the lower wage.
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U.S. Economy Unexpectedly Contracted in Fourth Quarter

1 Groups   
New York Times - 01.30.2013 Original article ›
Nelson D. Schwartz, Nelson, D., Schwartz
LyrArc Article Gist
A decline in military spending and exports offset growth in residential investment and investment in equipment and software to lead to a 0.1% contraction in the U.S. economy for the 4th quarter of 2012. This reflected a decline in military spending of 22.2%. GDP growth declined from 3.1% in the 3rd quarter to negative 0.1%. The U.S. GDP growth increased from 1.8% for 2011 to 2.2% in 2012.
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Wal-Mart Begins to Rebuild Health Clinic Business

2 Groups   
New York Times - 05.12.2009 Original article ›
Milt Freudenheim, Milt, Freudenheim
LyrArc Article Gist
After the failure of its venture with Redi-Clinic , which put its clinics business in reverse, Walmart is rebuilding this business. In 2008 Walmart talked of having 400 clinics by 2010. But of the 78 that were running in 2008, all but 17 closed. Now Walmart is partnering with Hospitals. And Redi-Clinic is doing the same. Walmart now has 33 clinics, with 26 having a hospital affiliation.
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An Immigrant’s Journey to a Top Post at Columbia

  
New York Times - 06.18.2009 Original article ›
Lisa W. Foderaro, Lisa, W., Foderaro
LyrArc Article Gist
Feniosky Pena-Mora originally of the Dominican Republic, came to the USA in the 1980's with a degree in engineering at the age of 21. He now becomes dean of the Colombia University Fu Foundation School of Engineering. He wants to integrate the "biological, physical and digital worlds of engineering." He also wnats to set up faculty led trips and internships abroad in order to give students more international exposure.
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In U.K., Currency Tumbles on Fear That Bailout Will Fall Short

  
Wall Street Journal - 01.21.2009 Original article ›
Alistair Macdonald, Alistair, Macdonald
LyrArc Article Gist
The British pound fell 5% against the yen and to a 7 year low against the dollar, and the Lloyds Banking Group led stocks down with a drop of 31%. There is doubt that the government moves this week will work as the huge losses at RBS led to larger support from the government. On Tuesday JP Morgan and other bank stocks fell more than 20% in the US.
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Germany Weighs Hypo Seizure

1 Groups   
Wall Street Journal - 01.28.2009 Original article ›
Marcus Walker, Marcus, Walker
LyrArc Article Gist
The German government has arranged 50 billion euros of mostly state backed loans for Hypo and guaranteed another 42 billion euros of Hypos debts. But continuing losses mean more government capital may be needed. The government is considering nationalization of Hypo Real Estate Holding, a Munich based bank, and even confiscation of shareholder's stakes in the bank, as permitted under German law if it upholds the public interest.
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Surplus to requirements

11 Groups   
Economist - 01.15.2009 Original article ›
Economist.Com
LyrArc Article Gist
China's trade surplus rose to $457 billion at an annual rate in the 4th quarter, 50% bigger than in the same period for 2007. Exports dropped by 13% in the 4th quarter but imports dropped faster by 21%, which explains the growing trade surplus. With the stimulus spending kicking in in 2010 imports should pick up just as exports decelerate fast, reversing the direction of the trade surplus.
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Original article 2 minutes, gist 1 minute

Europeans Protest Fuel Taxes But Accept High Prices

1 Links   
Wall Street Journal - 05.28.2008 Original article ›
Guy Chazan, Guy, Chazan, Marcus Walker, Marcus, Walker
LyrArc Article Gist
There have been protests against fuel taxes throughout Europe but public opinion especially in Germany where green issues are popular is in favor of reducing fuel consumption. It would require the agreement of 27 EU member states to make a change so some find Sarkozy's call for reducing the taxes puzzling and its unlikely as Brown in the UK and Merkel in Germany do not favor reducing the fuel taxes.
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