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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.

Populist Party Makes Gains in Serbian Elections

6 Groups   
New York Times - 05.06.2012 Original article ›
Dan Bilefsky, Dan, Bilefsky
LyrArc Article Gist
The Progressive Party of Tomislav Nikolic wins 23.5% of the parliamentary vote, the Democratic party of president Boris Tadic 22.1% and the Socialist party of Ivica Dacic 16%. Serbians cast a protest vote against high unemployment of 24% and corruption in government. There is still a sense that the joining the EU is the best option for Serbia. Even though nationalist parties, some allied to former president Milosevic, won a significant portion of the vote, the nationalist sentiment is balanced now with a sense that Serbia must now look to the future for what is best for the next generation and economic progress.
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Wisconsin recall election: Scott Walker’s fate will have November implications - The Washington Post

9 Groups   
Washington Post - 05.27.2012 Original article ›
Dan Balz, Dan, Balz
LyrArc Article Gist
The close contest between Republicans and Democrats in Wisconsin to recall Governor Walker five months before the presidential election. Grassroots activists pushed hard for the recall after large protests at the state Capitol. The national Republican party has invested resources in this and sees this as part of the national campaign. Walker has raised $25 million, according to the Wisconsin Democracy Campaign, and has far larger election campaign funds. Romney needs to win in the midwest in states like Wisconsin and Ohio, to win in November, and this recall election is being taken seriously by the Republicans.
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Original article 8 minutes, gist 1 minute

May Car Sales Keep Up Healthy Pace

1 Links 13 Groups   
New York Times - 06.01.2012 Original article ›
Bill Vlasic, Bill, Vlasic
LyrArc Article Gist
Auto sales in the U.S. reached 1.33 million vehicles in May, a 25% increase over the previous year, with the previous years figures skewed by the tsunami in Japan and shortages for Japanese manufacturers. The seasonally adjusted annual sales rate was 13.8 million vehicles. Employment increased to 644,000 workers in the U.S. auto industry, an increase in the first quarter of 2012 of 6% over the prior year, according to Bureau of Labor Statistics. The basic reason for the increased demand is the aging of cars on the road to about 10.8 years, according to vehicle registration information.
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Spain Tallies the High Cost of Riding Out Bank Crisis

1 Links 2 Groups   
New York Times - 06.21.2012 Original article ›
Raphael Minder, Raphael, Minder, Stephen Castle, Stephen, Castle
LyrArc Article Gist
Spain released reports by audit firms that showed 62 billion euros would be needed to recapitalize the affected parts of its banking system. This is below the 100 billion euros in rescue funds offered by the EFSF, the eurozone rescue fund, in loans to the Spanish government. The Spanish government is pushing for direct aid to the banks to cut the knot between the banking risk and sovereign risk that is pushing up the yields on Spanish bonds to 7% in June 2012. Spain's 3 largest banks will not be accepting aid funds- Banco Santander, BBVA, and La Caixa.
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Overheard: Oil and Unrest

1 Links 6 Groups   
Wall Street Journal - 04.18.2011 Original article ›
Wsj Online, Wsj, Online
LyrArc Article Gist
PFC Energy has estimated the price of oil that would be required by OPEC countries to support higher public spending after the political unrest in these countries. The estimate is based on the minimum Brent crude price an OPEC country needs to balance its current account. This price supports the higher social spending needed. For Saudi Arabia that price was about $28 in 2005, $64 in 2010, and could reach $75 in 2012. PFC Energy says OPEC will cut output if prices fall below $90, because of higher social spending needs after the democracy movements in Arab countries.
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BT Seals $19 Billion EE Deal

4 Groups   
Wall Street Journal - 02.06.2015 Original article ›
Simon Zekaria, Simon, Zekaria
LyrArc Article Gist
BT Group PLC acquired mobile company EE from Deutsche Telekom of Germany and Orange SA of France for 12.5 billion pounds in cash and stock. EE is the UK's largest mobile company and BT Group the largest fixed line telecom company. With this acquisition BT Group can now bundle fixed line, mobile lines, and television services, to increase subscriber revenue. Deutsche Telekom with a 12% stake is now the largest shareholder in BT Group. Orange will have a 4% stake. The acquisition provides BT Group with a faster 4G network and 30 million EE customers, 24.5 million direct mobile and 834,000 broadband.
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ChemChina to Buy Controlling Stake in Pirelli

2 Groups   
Wall Street Journal - 03.27.2015 Original article ›
Eric Sylvers, Eric, Sylvers
LyrArc Article Gist
ChemChina, a unit of China National Chemical, plans to acquire Italian tiremaker Pirelli & C. SpA. The intial bid id for a 26% stake in Pirelli owned by Camfin for 1.8 billion euros. The next step is for ChemChina to bid for the rest of Pirelli's stock outstanding at $15 a share. This values Pirelli at about 7.1 billion euros. China National Tire & Rubber Co., the ChemChina unit, gains from the acquisition by acquiring Pirelli's technology to upgrade its products and increase market share in China. Pirelli's CEO Provera will remain CEO and headquarters, R&D, will remain in Milan.
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Where to GoIf You Want To Marry a Millionaire

1 Groups   
Wall Street Journal - 01.17.2014 Original article ›
Eric Morath, Eric, Morath
LyrArc Article Gist
Maryland, New Jersey, Connecticut and Hawaii are the four leading states with the most millionaires in the U.S. since 2006. 7.7% of the households in Maryland are millionaires compared to about 1 in 20 in the U.S. or 6.15 million households. North Dakota has moved up with the natural gas Bakken field production and many affluent workers with new pickups. Nevada, Arizona, Michigan and Florida moved down the list after the economic slump. These figures are from Phoenix based on Census and Fed Reserve data. It does not include real estate, only assets that can be invested.
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Workers Shed Caution, in a Healthy Sign for Labor Market

2 Groups   
Wall Street Journal - 02.10.2014 Original article ›
Neil Shah, Neil, Shah
LyrArc Article Gist
The U.S. "quit rate" reflecting job churn in the economy with workers leaving for better job opportunities increased to 1.8% in Nov. 2013, increasing from 1.2% low in Sept. 2009, according to the Labor Department. 2.4 million workers resigned in Nov. 2013. This includes workers retiring and choosing not to work. The quit rate was about 2.1% betwen 2000 and 2006. About 20% of the churn is from the lower paying hotel and restaurant sector. As the U.S. population ages and workers look for more stable jobs the number of workers leaving jobs is declining since the 1990's.
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Novo Nordisk Sees 'No Strategic Reason' For Big Mergers

5 Groups   
Wall Street Journal - 06.17.2014 Original article ›
Clemens Bomsdorf, Clemens, Bomsdorf, John Stoll, John, Stoll
LyrArc Article Gist
Novo Nordisk's plans to continue a strategy it has pursued since the founding of the two original companies in the 1920's, of focussing on diabetes treatment worldwide and not pursuing major merger or acquisition deals. Novo Nordisk will pursue a strategy of increasing R&D hiring by 3000, hiring 6000 new employees by 2022. Novo Nordisk has market caitalization of $120 billion and is the largest Nordic company. With the increasing number of diabetes population Novo Nordisk is growing at 12% a year. Novo Nordisk Foundation has 74% of the voting rights and 25.5% of voting capital in the company.
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Japan Cushioned From China Slowdown

1 Groups   
Wall Street Journal - 07.15.2013 Original article ›
George Nishiyama, George, Nishiyama
LyrArc Article Gist
Japan is not seriously affected by the slowdown in growth in China. Sales in China of Toyota, Uniqlo, and other companies are increasing. Japan's exports to China increased by 8.3% in May 2013 over the prior year. Toyota expects China sales to grow by 7% in 2013, compared to a decline of 4.9% in 2012. There is high demand for SUV's. Nissan and Honda expect sales increases in 2013 of 6% and 25%. Komatsu sales are recovering because of infrastructure projects in rural areas of China. Bank of Japan Governor Kuroda says the bank will monitor China closely, particularly the shadow banking system.
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India's Lower House Passes Food Bill to Help Poor

3 Links 6 Groups   
Wall Street Journal - 08.26.2013 Original article ›
Biman Mukherji, Biman, Mukherji, Niharika Mandhana, Niharika, Mandhana
LyrArc Article Gist
India's lower house of parliament passes a Food Security bill which provides subsidized rice, wheat and other grains to the poorer sections of society, covering about 75% of people living in the rural areas and 50% of the people in cities. The legislation increases the cost of food subsidies by $4 billion to $20 billion a year. Because of high levels of malnutrition in rural areas in India, especially among children, the program helps the needy. Brazil's Bolsa Familia program is more far reaching in helping the poor because it also requires vaccinations of children and making sure children attend school.
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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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Chinese Delay Plan for Censor Software

  
Wall Street Journal - 07.01.2009 Original article ›
Loretta Chao, Loretta, Chao, Jason Dean, Jason, Dean
LyrArc Article Gist
The Chinese government allows PC makers in China to postpone installation of Green Dam filtering software on new computers. This was in response to the growing criticism of this requirement for pre-installation of filtering software on all new PC's sold in China. See the accompanying graph that shows the growth of internet users in China from data of the China Internet Network Information Center. It shows internaet users going from about 25 million users in 2000 to 300 million in 2008, showing how quickly internet technologies are penetrating and changing lives in rapidly changing developing countries like China.
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Angry Liberals Edge Toward a Mutiny

3 Groups   
Wall Street Journal - 12.18.2009 Original article ›
Naftali Bendavid, Naftali, Bendavid, Peter Wallsten, Peter, Wallsten
LyrArc Article Gist
The healthcare reform bill has lost the support of the SEIU (the Service Employees International Union) , and the AFL-CIO union. Its also lost the support od Howard Dean and of his Democracy for America. Voters aged 18-34 and Hispanics are much less enthusuastic for he party. And only 23% of blue collar workers in December 2009 express positive feelings about the Democratic party in a Wall Street Journal/NBC News poll, a 30 point drop from February 2009. And the same poll showed that there just isn't the same level of interest in voters who back Democrats or Obama.
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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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Growing Worry on Rescue Takes a Toll on Banks

  
New York Times - 02.21.2009 Original article ›
Eric Dash, Eric, Dash
LyrArc Article Gist
As potential bank takeover on a short term basis to fix things looms over some banks, that are already heavily dependent on government money, their share prices dropped significantly. Bank of America dropped to $3.79 a share and Citigroup dropped to $1.95 on February 20, 2008. The more bank shares fall the more likely it becomes that the government will end up owning even larger stakes in the banks. Larger infusions of government capital mean diluting existing shareholders. In this atmosphere investors fearing that the value of their shares will be wiped out keep selling bank shares.
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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

Philips Widens Marketing Push in India

1 Groups   
Wall Street Journal - 03.19.2009 Original article ›
Leila Abboud, Leila, Abboud
LyrArc Article Gist
As health care markets are slowing in western countries and price pressures are increasing Phillips is moving aggressively in emerging market countries like Brazil and India. It s market share in emerging market countries is 18.5% and it wants to push this upto 25%. And health care is becoming more important to Phillips as it scales back from consumer electronics. To understand and meet the different needs of these countries Phillips is acquiring local companies and redesigning its products so that they meet basic functions at a much lower price than the same product sold in western countries.
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Wave of Foreclosures Forces Britons to Ponder Fixed Rates

  
New York Times - 08.24.2007 Original article ›
Julia Werdigier, Julia, Werdigier
LyrArc Article Gist
Britain is a country which for various reasons is addicted to adjustable rate mortgages only 5% of the mortgages are fixed rate in Britain, and meantime the Bank of England is moving rates up now at 5.75%. And Britain has a retail mortgage market without mortgage secutization that has created capital pools that support the mortgage market in the USA. In fact the first 25 year mortgage was introduced in March 2007 by Nationwide, as HBOS and Abbey did not offer one. About 2 million mortgages will switch to adjustable rates in the next year, so Britain does face a looming housing crisis.
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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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Japan Gets Shelter via China Trade

3 Groups   
Wall Street Journal - 02.05.2008 Original article ›
Sebastian Moffett, Sebastian, Moffett
LyrArc Article Gist
How sensitive is Japan to slowdown in the USA? Sure Japan's biggest trade is with China, the USA accounts for only 20% of Japanese trade with other countries. But China depends on exports to the US, and its infrastructure spending and spending by the Chinese consumer is also indirectly dependent on China's export economy, making it not clear how this will work out. Goldman Sachs is predicting that Japan is already in a recession. Its new weakness is is its two tier workforce with lower wages and no benefits for part time workers, leading to lower consumption.
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Saudis Promise More Oil To Curb World-Wide Fears

  
Wall Street Journal - 06.23.2008 Original article ›
Margaret Coker, Margaret, Coker, Neil King Jr., Neil, King, Jr.
LyrArc Article Gist
Saudis make only a modest increase in production of 200,000 barrels a day taking production to 9.7 million barrels a day for 2008. The global market is for 86 million barrels a day with 40% of production coming from OPEC. Saudis make plans to increase capacity from 11.4 million barrels a dya to 15 million barrels a day with increased investments but this is thought to be ambitious. One former president of Aramco the Saudi oil company Edward Price thinks there are resource limits even in Saudi Arabia, as he sees the big fields topping off at 12 million barrels a day.
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GM Plans $10 Billion In Cuts to Bolster Cash

2 Links 1 Groups   
Wall Street Journal - 07.16.2008 Original article ›
John D. Stoll, John, D., Stoll, Sharon Terlep, Sharon, Terlep
LyrArc Article Gist
GM's plan for the current crisis in sales with sharp drop in sales of trucks and SUV's is to cut costs in many areas, 20% in salaried expenses, cut dividend payments, and cut development expenditures, and other moves that will cut $10 billion in costs.It will make competing with the Japanese and the Germans and Koreans difficult, and difficult to hold onto market share it currently holds as it will spread the limited resources over the many existing brands. Henderson says it cost $2 billion to close Oldsmobile with no return so GM will continue with all the brands in its lineup.
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Budgets Squeezed, Some Families Bypass Organics

3 Groups   
New York Times - 11.01.2008 Original article ›
Andrew Martin, Andrew, Martin
LyrArc Article Gist
Organic food industry growth which had seen 20% growth in recent years is now growing at 4% for the month ending October 4 compared with tha month last year according to Nielsen Company. Consumers are much less committed to organics in a deep economic downturn and the customers that are are looking for the best deals and making fewer purchases and purchases for children. And there is competition from grocery store brands like Kroger brands for organic milk. As stores like Kroger offer their own organics at better prices the organic foods industry willl become competitiive market where price is a factor.
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