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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.

Nairobi’s planners are knocking the city down to save it

  
The Economist - 03.09.2019 Original article ›
LyrArc Article Gist
This report in The Economist shows how Nairobi is coping with years of haphazard and disorganized development. As land prices jumped new investment has led to a unregulated disorganized building boom that has affected rivers and sanitation. The city's water supply and colonial era sewers are barely coping, says the Economist. To try to fix this the city has launched a demolition campaign for 4000 buildings. Meanwhile Nairobi's population has grown by 1.5 million over the 2009 figure of 3.1 million. Projects to build 200,000 low income housing is also underway. Four problems need to be tackled- a skills shortage, insufficent government investment, enforcement and rule of law, and last rent seeking typical of underdeveloped countries with corruption, complicating the tasks ahead. The biggest problem is large population growth for most African cities.

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Original article 5 minutes, gist 1 minute

Italy’s Monti Forms New Government

1 Links 1 Groups   
New York Times - 11.16.2011 Original article ›
Rachel Donadio, Rachel, Donadio, Elisabetta Povoledo, Elisabetta, Povoledo
LyrArc Article Gist
The Italian cabinet of prime minister Mario Monti, includes Corrado Passera, CEO of Italy's largest retail bank, as minister of economic development and transport. In selecting his cabinet Monti brought in respected members from academia, banking, business and the higher levels of the civil service. Monti's agenda includes cutting public spending, increasing revenues, changing the pension system, reintroducing a property tax on first homes, and making it possible for business to hire and fire workers by changing Italy's rigid labor laws. Emma Marcegaglia, president of Confindustria, Italy's business association, says he is the right person to restore credibility and to put Italy back on the road to economic recovery. She had a high regard for the selections in the cabinet. The big challenge in her view was now to get the Italian parliament to approve the changes.
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Shanghai's Pudong, Once Soulless, Rises Up

3 Groups   
Wall Street Journal - 12.21.2011 Original article ›
James T. Areddy, James, T., Areddy
LyrArc Article Gist
The resurgence of the Pudong District of Shanghai, with large investments, an industrial base, migration to the cities, and favorable location at the mouth of the Yangtze River. Since 1995, 70 skyscrapers and 120 million square metres of floor space according to official estimates, have been built in Pudong. Real estate agency Jones Lang LaSalle says occupancy and rates compare favorably with Manhattan in New York. New York has 10.3% empty space compared to 9.5% for Pudong, and space is leased for $693 per square meter annually in Pudong, 10% higher than in midtown Manhattan. The migration to the cities and a growing middle class have proved skeptics wrong over the years about the ability of real estate developers to fill the space they created. Also helping is the central government's plans to focus investment on Shanghai as the business capital of China.
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A New Year, the Same Ol' Pessimism

15 Groups   
Wall Street Journal - 01.09.2012 Original article ›
Jonathan Cheng, Jonathan, Cheng
LyrArc Article Gist
Adam Parker, chief equity strategist of Morgan Stanley, sees the Standard and Poor's 500 stock index ending 2012 at 1167. Garry Evans, global head of equity strategy at HSBC, sees the S&P 500 stock index ending 2012 at 1190. This is down from the end of 2011 level of 1257. David Kostin, top equity strategist at Goldman Sachs, sees the S&P at 1250 at the end of 2012. Parker, Evans and Kostin, share concerns about the macroeconomic environment and Europe. Parker also sees weakness in bank earnings contributing to this level in the S&P 500 stock index. Parker view global macroeconomic factors determining 50% of the outcome, with weaknesses not only in Europe but also in China. His predictions for S&P earnings per share are at about $100 for 2012 and $103 for 2013.
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Amazon's Spending Habit Hurts Profit

6 Groups   
Wall Street Journal - 02.01.2012 Original article ›
Stu Woo, Stu, Woo, John Letzing, John, Letzing
LyrArc Article Gist
Amazon's revenue for 4th quarter 2011 increased 35% to $17.4 billon. Profit for the 4th quarter 2011 declined by 57% over prior year quarter, as Amazon increased hiring, and invested in warehouses, technology and in Kindle electronic promotional sales. Operating expenses were up 38% from the prior year quarter. Operating margin was 1.5%, declining from 3.8% in the prior year quarter, but up from 0.7% in third quarter 2011. Analysts estimate that Amazon sells the Kindle at a loss of $15 per unit. Kindle Fire sales were up to an estimated 6 million units for the 4th quarter 2011. Hiring jumped and employee count was up 67% for 2011 over the prior year, up to 56,200 employees. Forrester Research estimates that overall internet sales growth for 2011 was 10%, showing that Amazon sales growth was much faster.
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Banks Look to Profit on Muni-Bond Fears

5 Groups   
Wall Street Journal - 12.21.2010 Original article ›
Katy Burne, Katy, Burne
LyrArc Article Gist
The size of the municipal CDS market is about $50 billion. Five large derivatives dealers- Bank of America Merrill Lynch, Citigroup, Goldman Sachs, J.P. Morgan Chase, and Morgan Stanley- met in November 2010 to discuss standardizing paperwork for "muni CDSs" to attract more buyers and sellers. The biggest banks are hoping to profit from the deteriorating finances of US cities and states. The CDSs or credit default swaps require swap sellers to compensate buyers if a municipal issuer misses an interest payment or restructures its debt. This makes states nervous and they are suspicious of CDSs, believing that this encourages speculators to bet on, and worsen states' financial situation. California is about to require all 86 of its underwriting banks to disclose what CDSs they have traded on the states' debt, for customers or for their own accounts.
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In Islamic State Stronghold of Raqqa, Foreign Fighters Dominate

1 Links 3 Groups   
Wall Street Journal - 02.05.2015 Original article ›
Yaroslav Trofimov, Yaroslav, Trofimov
LyrArc Article Gist
Trofimov provides this report on the conflict in Syria and Iraq. Islamic state fighters from other countries are paid $800 per month compared to $400 for local fighters in Syria and Iraq. Fighters in the Free Syrian Army are paid $100 by comparison. Many of the fighters coming from Russia, western countries, and Arab countries see this as part of a visionary effort to create a new Islamic society, an experiment of sorts. In the process dislocating many of the local population and turning them into refugees going to Turkey and Jordan. Many of the 20,000 fighters crossing into the region from the Syrian border are veterans of other conflicts and bring previous experience. The Syrian city of Raqqa is described here by Trofimov as dominated by these fighters with much of the local Syrian population turned into refugees.
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Razor Sales Move Online, Away From Gillette

4 Groups   
Wall Street Journal - 06.23.2015 Original article ›
Serena Ng And Paul Ziobro, Serena, Ng, And, Paul, Ziobro
LyrArc Article Gist
Online sales of razors are growing rapidly, having doubled to $263 million in the 12 months through May 2015, according to Slice Intelligence. This is about 8% of the market of $3 billion. P&G Gillette division is responding by offering better prices online to compete with competitors such as Dollar Shave Club. Dollar Shave Club has about 2 million customers paying about $1 to $9 every 2 months for blades. Gillette's claim is that its Fusion ProGlide blades cost $5 a month, based on changing cartridges only once a month for 3-4 shaves per week. Gillette dominates retail sales because of its relationships with retailers, its displays inside stores, and its packaging. The online competition changes the way blades are sold, bringing better prices to customers used to paying high prices for baldes sold with "new and improved" labels.
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Europe’s Two Years of Denials Trapped Greece

1 Links 19 Groups   
New York Times - 11.05.2011 Original article ›
Landon Thomas Jr., Landon, Thomas, Jr., Stephen Castle, Stephen, Castle
LyrArc Article Gist
Failure by EU leaders to take early and decisive action to reduce Greece's debt to sustainable levels in 2009. This was when the IMF report by Dutchman Bob Traa blew the cover off the Greek coverup of deteriorated finances. Policy missteps included ECB president Trichet and other EU leaders pushing austerity measures and not taking needed tough action on reducing the debt. By November 2011 a 50% reduction in debt with bondholders taking the losses is not enough to correct the situation. Greece's debt is discounted by 70% by Nov 2011. Analysts estimate an 85% reduction in Greek debt being necessary for Greece to pull through without a default.
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Would $100 Oil Slam the Global Economy?

1 Groups   
BusinessWeek - 07.27.2006 Original article ›
Stanley Reed, Stanley, Reed
LyrArc Article Gist
Response to question whether this $100 a barrel oil is possible is yes, if something big happens in the oil flows from middle east or if there is a Katrina style hurricane. Reason being that oil demand has not slackened up either from Asia or from the U.S. automobiles. How would this impact the USA, Europe, Asia? The impact on Japan and Europe would be less because of the high efficiency in use energy use. This could slowdown the U.S. economy considerably as gasoline approaches $5 a barrel. India would be hurt with a drop in GDP growth from 8% to 6% according to an estimate by Crisil, Mumbai. It would affect Chinese growth also but the main impact would be indirect through a decline in the U.S. market for Chinese made products. Russia would gain and economic growth there could accelerate further from 6% to 9% according to estimate by MDM Bank, Moscow.
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Caught between internal and external terror threats, France struggles to cope - The Washington Post

7 Groups   
Washington Post - 11.14.2015 Original article ›
Greg Miller And Craig Whitlock, Greg, Miller, And, Craig, Whitlock
LyrArc Article Gist
The head of France's intelligence service says France faces a threat from radicalized Muslims inside the country, and from French citizens who are fighting in Syria and Iraq returning to the country. While the number of Americans going to Syria or Iraq is said to be declining this is not the case with France.
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Chinese Purchases of Japan Brands Fall

6 Groups   
Wall Street Journal - 10.07.2012 Original article ›
Yoshio Takahashi, Yoshio, Takahashi, Chester Dawson, Chester, Dawson
LyrArc Article Gist
Toyota sees a sharp drop in sales after street protests against Japan in Chinese cities. Japanese media reports show Toyota sales in China for September 2012 dropped to half the sales of 75,300 cars in August 2012. Feelings are strong on both sides and for the first time it appears to be affecting economic relations.
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RIM CEOs Give Up Top Posts in Shuffle

  
Wall Street Journal - 01.23.2012 Original article ›
Will Connors, Will, Connors, Chip Cummins, Chip, Cummins
LyrArc Article Gist
RIM's two co-CEO's, Jim Balsillie, and Mike Lazaridis, both resign. The board appoints Thorsten Heins, chief operating officer, to be the next CEO of Research In Motion on Jan. 22, 2012. The appointment comes at a time when RIM is under increasing pressure to reverse its position of decline in the smartphone industry.
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Money From MF Global Feared Gone

3 Groups   
Wall Street Journal - 01.30.2012 Original article ›
Scott Patterson, Scott, Patterson, Aaron Lucchetti, Aaron, Lucchetti
LyrArc Article Gist
It appears that much of the $1.2 billion in missing customer money at MF Global may have been used for investments that resulted in large losses during the last chaotic days of the firm and may never be recovered. This is the view emerging as investigators and other experts look into the missing money.
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Monster's Link to Economy Goes Missing

3 Groups   
Wall Street Journal - 01.28.2012 Original article ›
Justin Lahart, Justin, Lahart
LyrArc Article Gist
Monster's revenue declined by 5% in the 4th quarter over the prior year, even though Labor Dept. statistics show 9% more job openings at U.S. businesses than the prior year same quarter. This could be the result of growing competition from Career Builder and Linked In and changes in the way people look for jobs.
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The Rupee Gets a Face

1 Groups   
Wall Street Journal - 06.24.2010 Original article ›
LyrArc Article Gist
India's currency, the rupee, ges a makeover, as the Indian government chooses a design symbol for the Rupee. It will be some variation of the letter R, similiar to the way Japan uses the Y for Yen with double bars across it, or how the Europeans chose the epsilon Greek character for the Euro symbol.
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Steven Pearlstein - Google, tax dodger extraordinaire

7 Groups   
Washington Post - 10.28.2010 Original article ›
Steven Pearlstein, Steven, Pearlstein
LyrArc Article Gist
Pearlstein raises the question, are there business leaders who believe that what's good for America, is good for business, rather than the other way around. Google, like other technology companies, pays much less in taxes than the corporate tax rate suggests. Research by the Washington Post shows this to be 18%, not 35%, for 2009.
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Intel's New Chip: A Best Defense in the Cloud

3 Groups   
New York Times - 03.06.2012 Original article ›
Quentin Hardy, Quentin, Hardy
LyrArc Article Gist
Intel's projections show there will be an estimated 15 billion devices and 3 billion people connected to the internet by 2015. Intel says it has twice the bandwidth throughput, improved security and energy conservation. This chip comes out at a time when the competitive landscape is changing and companies are preparing for cloud computing.
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So What Does Obama's Immigration Reform Mean for India's High Skilled Workers?

3 Groups   
Wall Street Journal - 11.21.2014 Original article ›
Dhanya Ann Thoppil, Dhanya, Ann, Thoppil
LyrArc Article Gist
The increase of H1-B visas to 180,000 in legislation was not taken up in the House. The executive order addresses low skilled immigrants, but does not take up the issue of increasing H1-B visas. Technical hurdles are reduced and overall the impact on outsourcing firms in India appears to be minor, say experts.
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White House to preserve controversial policy on NSA, Cyber Command leadership - The Washington Post

2 Groups   
Washington Post - 12.14.2013 Original article ›
Ellen Nakashima, Ellen, Nakashima
LyrArc Article Gist
U.S. president Obama does not plan to make some of the changes recommended by the presidential panel reviewing NSA surveillance and spying policies. Separation of the NSA and Cyber Command leadership was one, and the other was having phone records of Americans be held by a third party or phone companies and not the NSA.
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Original article 5 minutes, gist 1 minute

ECB Hits the Road for Star Supervisors

2 Groups   
Wall Street Journal - 06.26.2013 Original article ›
Buell, Lawton
LyrArc Article Gist
The ECB's effort to attract talent from national central banks to fulfill its role as supervisor of 7000 banks in the eurozone countries by the second half of 2014. Supervisors who are hired will be located at the ECB's headquarters in Frankfurt. The ECB positions offer attractive perks for young workers with families and children.
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A Long Goodbye

2 Groups   
New York Times - 03.01.2009 Original article ›
A. Michael Spence, A., Michael, Spence
LyrArc Article Gist
Michael Spence, Professor emeritus at Stanford, and Nobel prize winner in economics in 2001, says the recession is global with growth globally approaching zero, and the economy in high speed descent. So he doesn't see recovery even if all the actions are appropriate and clear till 2011. And if not it will be much worse.
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Troubled waters

  
Economist - 11.26.2007 Original article ›
Economist.Com
LyrArc Article Gist
Continuing shortages at the fuel pump even after the 10% price increase at fuel pumps. Further price increases may be announced if crude oil prices keep rising. Sinopec gets subsidies for crude bought at international oil prices and sol at low government mandated prices. In 2005 and 2006 these subsidies total about $2 billion.
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Original article 3 minutes, gist 1 minute

SEC Aims to Rein In The Role of Ratings

  
Wall Street Journal - 06.24.2008 Original article ›
Aaron Lucchetti, Aaron, Lucchetti, Kara Scannell, Kara, Scannell, Craig Karmin, Craig, Karmin
LyrArc Article Gist
The 3.4 trillion money market industry has a new SEC rule that will affect it. USA money market funds will now be able to invest in short term debt without regard to ratings, as ratings are not considered reliable indicators and money market fund managers are expected to exercize their own diligence and judgement.
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U.S. States Defy Trump’s Climate Pact Withdrawal

5 Groups   
WSJ - 06.03.2017 Original article ›
Alejandro Lazo
LyrArc Article Gist
California, New York and Washington are  three states, with 30 other cities in the U.S., and 100 large businesses, forming the U.S. Climate Alliance, saying they will  follow the Paris agreement on climate change. Former Mayor Bloomberg of New York City is organizing the effort, and he says in the U.S. it is cities, states and businesses that actually do the work of reducing emissions, not the federal government. Bloomberg said: "The fact of the matter is Americans don't need Washington to meet our Paris commitment." Governor Jerry Brown of California says the response will be for California and other states to set even bolder standards for reducing emissions.

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Original article 8 minutes, gist 1 minute

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