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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.

Time for Fannie, Freddie?

1 Groups   
Wall Street Journal - 07.08.2008 Original article ›
Peter Eavis, Peter, Eavis, David Reilly, David, Reilly
LyrArc Article Gist
Questions are raised after a 16% drop in Faniie's share price and 18% drop in Freddie's share price whether the common equity in both will have any value left once the housing crisis has taken its toll. If capital raining by Fannie and Freddie do not get done at the right size which could be upto $46 billion of capital for Fannie and $26 billion for Freddie according to a Lehman Brothers report then the government may be forced to do something like takeover Fannie and Freddie leaving shareholders with pennies.
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U.S. Wants Criminal Charges for RBS

8 Groups   
Wall Street Journal - 01.29.2013 Original article ›
David Enrich, David, Enrich, Evan Perez, Evan, Perez, Dana Cimilluca, Dana, Cimilluca
LyrArc Article Gist
A unit of RBS, possibly in Asia, is likely to plead guilty to manipulating the London interbank offered rate (LIBOR). A settlement with U.S. prosecutors is likely by mid-Feb. 2013. A penalty of 500 million pounds or $790 million is expected as part of a legal settlement, according to people briefed on negotiations. RBS is 82% owned by the British government. This follows legal settlements totalling about $2 billion with Barclays and UBS. Banks are also concerned about the risks of private litigation. Deutsche Bank is being investigated for its involvement.
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Cheaper Natural Gas Lets Nucor Factory Rise Again on Bayou

7 Groups   
Wall Street Journal - 02.01.2013 Original article ›
John W. Miller, John, W., Miller
LyrArc Article Gist
Natural gas prices have declined to $3.34 per million BTU's in Jan 2013. This is about a fourth of the prices in 2006 and 2008, when prices were above $12 per millon BTU's. The result is a rebirth of industry in the midwest and other regions in the U.S. Here the WSJ's John Miller covers a Nucor $750 million investment in Louisiana for a new steel plant. Oddly Nucor did just the opposite in 2004, taking apart a steel plant and shipping it on ocean barges to Trinidad, where natural gas is abundant.
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Japan Unions Win Best Raises in Years

2 Links 7 Groups   
Wall Street Journal - 03.13.2013 Original article ›
Yoree Koh, Yoree, Koh
LyrArc Article Gist
Efforts to increase wages by the Abe administration in Japan. Combined 10 of 12 major auto worker unions in Japan said companies had met their full demands in 2013. Toyota offered workers a bonus equal to 6 months of base pay- a 15% increase over 2012 bonus. This reverses a negative trend of declining wages in Japan- average annual compensation declined for part and full time employees, including bonuses, for 8 of 10 years 2002-2011, reaching 4.09 million yen or $42,800 per worker in 2011, according to the National Tax Agency.
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British Banks Will Face Tougher Liquidity Rules

2 Groups   
New York Times - 10.06.2009 Original article ›
Julia Werdigier, Julia, Werdigier
LyrArc Article Gist
Britain's FSA takes the initiative to put in new liquidity rules to prevent afuture banking crisis. It puts pressure on financial services firms to buy 110 billion pounds of government bonds that would remain liquid in a financial crisis. The rules would be borught in over several stages over the next few years. A week earlier the British government met with executives of the 5 largest banks to agree to install limits to bonuses laid out at the G-20 Summit. THe British are the first to take these steps.
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Australia's Fast Recovery Spurs Fears It Overdid Stimulus

  
Wall Street Journal - 10.14.2009 Original article ›
James Glynn, James, Glynn, Enda Curran, Enda, Curran
LyrArc Article Gist
Australia is seeing strong results from apickup in CHinese demand, the stimulus of 67 billion Australian dollars ($60.58 billion US), and investment including A$43 billion natural-gas project of Chevron Corporation. As a result the unemployment rate fell to 5.7% in September from 5.8% in August 2009. Australia has the third highest fiscal stimulus package 2008-2010 as a percent of GDP at 4.6%, after the US at 5.6%, S. Korea at 4.9%. As aresult Australia's central bank is the first of the G-20 to raise interest rates lifting it to 3.25%.
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Top Democrat Aims to Boost Mass Transit's Funding Share

  
Wall Street Journal - 12.20.2008 Original article ›
Christopher Conkey, Christopher, Conkey
LyrArc Article Gist
ig changes in transportationpolicy will change the way Americans move around. Its not just the auto industry that is being remade. US transportation policy is being shaken up and is in for big cahnges. The head of the House Transportation and Infrastructure committee is a Minnesota Democrat Rep. Janes Oberstar, he is suggesting Congress steer $30 billion to highways and bridges and $12 billion to transit as part of the $85 billion being discussed for transportation spending in the stimulus plan. This would be a much higher percentage than what transit secured for many years.
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In U.K., Getting Tough With Nationalized Banks

1 Links 5 Groups   
Wall Street Journal - 02.09.2009 Original article ›
Alistair Macdonald, Alistair, Macdonald, Sara Schaefer Muñoz, Sara, Schaefer, Muñoz
LyrArc Article Gist
The bonus issue at RBS bank in the UK, where performance has been abysmal but 1 billion British pounds in bonuses were planned. The public outcry. RBS has been the biggest disaster in British banking or one of the biggest. It has angered Prime Minister Brown for the Government to come up with $20 billion pound injection of capital into RBS recently, yet the current management saw it fit to consider this sizable bonus. Somewhere in all this there is a disconnect between what makes sense and what does not make any sense.
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AstraZeneca Drug's Effectiveness Questioned

2 Links 1 Groups   
Wall Street Journal - 02.28.2009 Original article ›
Avery Johnson, Avery, Johnson, Shirley S. Wang, Shirley, S., Wang, Jeanne Whalen, Jeanne, Whalen
LyrArc Article Gist
Astra Zeneca faces over 9000 lawsuits from people who developed diabetes after taking it. Its a drug for bipolar disorder and schizophrenia that has sales of $20 billion over the years, with $4 billion in 2008. Now it is revealed that Astra Zeneca conducted studies on the effectiveness of Seroquel from 2000, and these studies show that Seroquel was less effective than a generic medicine haloperidol, that has been around for 50 years. Seroquel was only more effective than a placebo,the analysis says from hundreds of pages of unsealed documents.
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Dream Mortgage Bailout Has a Darker Side

6 Groups   
Wall Street Journal - 04.03.2009 Original article ›
Peter Eavis, Peter, Eavis
LyrArc Article Gist
With the reduced demand for Fannie and Freddie mortgages with coupons under 5%, the Fed steps in and purchases $192 billion of 4% and 4.5% conforming mortgages on a gross basis by March 25, 2009. The move helps support falling house prices in the U.S. and reduces mortgage rates. It also helps banks improve profits. Estimates show the top 10 banks increased their holdings of securities issued by Fannie and Freddie and government agencies by $128.6 billion or 30% in 4th quarter 2008, which can be marked up in future quarters.
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A wake-up call from the voters

1 Links 1 Groups   
Economist - 04.04.2009 Original article ›
Economist.Com
LyrArc Article Gist
In the March 29, 2009, local elections in Turkey the AK party led by Mr Erdogan got only 39% of the vote down from the 47% it obtained in the 2007 general elections. Unemployment is 13.6% and the Turkish currency's value dropped, and GDP is declining. Mr Erdogan's claims that the global meltdown had not touched Turkey irked voters, and other local issues and parties also resulted in a loss of support. Erdogan is seen as aloof and losing touch with the people compared to the years when AK was on the rise.
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Original article 3 minutes, gist 1 minute

Too Much Hope May Be Pinned On Rate Cut

  
Wall Street Journal - 09.17.2007 Original article ›
E.S. Browning, E.S., Browning
LyrArc Article Gist
Thoughtful opinion by experts that the rate cut or a series of rate cuts may just not do it and the economic growth will slow to 1.5% or nearer that number next year. The housing declines, lower consumer spending, and the credit crunch won't disappear with the rate cuts. The effects on the dollar are another factor. See the article on how ewe may be entering a new period in the global economy where the US slows and the rest of the world pushes ahead in the wsj Sept 20, 2007.
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Why United Is Ready to Unite

  
BusinessWeek - 12.03.2007 Original article ›
Dean Foust, Dean, Foust
LyrArc Article Gist
United is looking for a merger partner as its one of the weakest of the large airlines. But no good fit is to be seen. United emerged from bankruptcy in a fairly weak condition and has not been able to come up with better margins. Its margin is only 2% compared to 6.1% for Southwest. Its planes are 20 years old and no new orders are being placed. Its possible that the airline may be sold piecemeal, such as its maintenance operations, its cargo business, and its Mileage Plus frequent flyer program.
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India's Drug Firms May Boost a Healthy Portfolio

4 Groups   
Wall Street Journal - 12.17.2007 Original article ›
Laura Santini, Laura, Santini
LyrArc Article Gist
Areas for growth for the Indian drug Industry include the large growing domestic market, the outsourcing by US drug manufacturers, and sales in other developing countries of Asia, Middle East, Latin America and Africa. Analyst estimates are that India will spend $30 billion a year on drugs to improve care for its people in the next 10 years up from $8 billion today. And the distribution network is being developed by drug companies insdie India to reach more people. Also companies like Pfizer plan to double outsourcing of manufacturing drugs from 10% today to 20%.
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Business Retreats to the Bunker

  
BusinessWeek - 04.03.2008 Original article ›
James Cooper, James, Cooper
LyrArc Article Gist
This chart shows sharply divergent earnings trends. Looking at percent changes from a year ago the Bureau of Economic Anlaysis numbers show that fourth quarter earnings domestic profits were down 6.5% while earnings from the rest of the world jumped 42.8% the largest increase in 27 years. How strongly will these export markets hold up as we get to 2009 and there is a global impact of the recession that starts in the USA. And lower earnings in US markets will mean lower capital spending in the US.
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UAL to Record Up to $2.7 Billion in Charges

  
Wall Street Journal - 07.12.2008 Original article ›
Susan Carey, Susan, Carey
LyrArc Article Gist
UAL's stock has gone down 93% in the past year more than its other U.S. rivals and the entire company has an equity value of $433 million smaller than the retail price of two jumbo jets. It will take second quarter noncash charges of $2.7 billion to writedown to zero the value of its intangible assets or goodwill. United will pare its 460 plane fleet by 100 planes by 2009, cut capacity by 15% in the 4th quarter 2008, cut 20% of salaried jobs or 1500 jobs, and furlough 950 of its 6000 pilots.
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Temasek Throws Support To Merrill's Thain

  
Wall Street Journal - 08.27.2008 Original article ›
Rick Carew, Rick, Carew
LyrArc Article Gist
Temasek's investment in Merrill approaching 10% could reach 14%. Temasek's Senior Managing Director Kejriwal says its confidence in Mr. Thain and his team remains high and Merrill's management team has grown stronger in the last 8 months, in an interview. Temasek has $10 billion invested outside Asia. Its total shareholder returns by market value have dropped from 27% the previous year to 7%, and Temasek's Chairman Dhanabalan sees the danger of stagflation as a major threat to the investment environment and sees it posing socioeconomic and political risks for the next three to five years.
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Europe Slashes Growth Forecasts for 2008

2 Groups   
New York Times - 09.11.2008 Original article ›
Carter Dougherty, Carter, Dougherty
LyrArc Article Gist
The European Commission cuts 15 nation euro area growth forecast for 2008 from 2% to 1.4%. For the 27 nation European Union the forecast is dropping from 1.7% to 1.3%. Link this to discussions at OPEC in Vienna and one can see why the Saudis use the argument that high oil prices can lead to a collapse in demand and a collapse in oil prices not helping consumers or producers, when a stable price that reflects the fragile financial markets in the west would better accomodate both sides.
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U.K. Plans to Buy Into Large Banks in Bold Move

1 Groups   
Wall Street Journal - 10.08.2008 Original article ›
Dana Cimilluca, Dana, Cimilluca, Sara Schaefer Muñoz, Sara, Schaefer, Muñoz, Carrick Mollenkamp, Carrick, Mollenkamp
LyrArc Article Gist
As the UK's biggest banks are hit hard in the markets, RBS shares down 39%, HBOS down 42%, and Lloyd's down 13%, Barclays down 9%, on Tuesday October 7, 2008, Brown takes a bold step to recapitalize British banks. In recent years as the boom years progressed British banks handled global capital equal or greater than Britain's entire economic output for a year, and making London the global financial hub rivalling New York. Brown offered to buy stakes in British banks for as much as 50 billion pounds or $88 billion.
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In India, Global Financial Crisis Really Hits Home

  
Wall Street Journal - 10.09.2008 Original article ›
Jackie Range, Jackie, Range
LyrArc Article Gist
India's property market is hit hard with drops of 20-30% expected in the next couple of years. The ruppee is at a six year low against the dollar and the Sensex is down 70% from its high in January. How will consumers respond. Slowing growth will affect countries like China that export to India. And India is only beginning to start on a path of sustained growth as millon of people in India have not been touched by the economic progress and it needs to sustain a high growth rate to help them.
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Citi's Rally Ignores Data Like Losses

  
Wall Street Journal - 10.15.2008 Original article ›
Peter Eavis, Peter, Eavis
LyrArc Article Gist
Citi's shares went up 18% with the $25 billion capital injection October 13, 2008, but says Eavis in Heard on the Street, the dangers in its balance sheet are still there. Oct 14, 2008, the closing price was $18.62 per share but its tangible book value is estimated at just more than $10 a share. With losses expected to remain high for several quarters this premium may be an odd thing, and with the losses the tangible book value may be below $9 a share. So there are more strong winds ahead of Citi.
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'Mass Mods': Will Help for Homeowners Be Enough?

1 Groups   
BusinessWeek - 11.26.2008 Original article ›
Dean Foust, Dean, Foust
LyrArc Article Gist
Why the loan modification programs get media attention but are not going to stem the rising tide of foreclosures. Even with all the programs announced by the banks it would affect only 2 million of the 8 million homeowners facing foreclosure. As the loan modifications are working with reducing payments to 40% of the prior monthly payment,this may not be enough as 28% is a better figure for homeowners struggling to makepayments. As a result homeowners with loan modifications may still end up in foreclosure as unemployment rises to 8% in 2009 and 2010.
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To Add Jobs, Revive Revenue Sharing

11 Groups   
New York Times - 08.28.2010 Original article ›
Robert J. Shiller, Robert, J., Shiller
LyrArc Article Gist
Robert Shiller of Yale University, calls for revenue sharing by the federal government with local governments. This should go beyond the $26 billion approved this month for aid to local governments, designed to assist with Medicaid and hiring teachers. It is difficult to create jobs quickly and disperse and use money wisely, without the help of local governments, military or nonprofit organizations- as these organizations have the necessary infrastructure that can be used to get things done quickly. He cites the Civilian Conservation Corps created by FDR, using the Army as the organizational framework.
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Trump Is the Democrats’ Dream Nominee

1 Links 4 Groups   
Wall Street Journal - 12.10.2015 Original article ›
Karl Rove, Karl, Rove
LyrArc Article Gist
Rove cites Quinnipiac poll surveys showing Trump with the worst ratings of the 12 Democratic and Republican candidates- 35% favorable to 57% unfavorable. The breakdown shows 60% of independents disliking him, and 69% of voters 18-34 saying they dislike him. He says Trump stands little chance against a Democratic nominee for president. This is why a splintered vote in the Republican primaries is dangerous for Republicans says Rove, pointing to the need for Republicans to focus on a good alternative candidate, who has experience and ability to win votes across many demographic groups.
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Facebook user fined thousands of euros for hate speech against German politician | News | DW | 11.04.2017

6 Groups   
DW.COM - 04.11.2017 Original article ›

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