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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.

Daring Investors Brave Pakistan Market

6 Groups   
Wall Street Journal - 01.06.2014 Original article ›
Daniel Inman, Daniel, Inman
LyrArc Article Gist
The Karachi stock index was up 49.4% in 2013 as the pro-business policies of the Sharif government are attracting foreign investment. From the beginning of May 2013 when Sharif was elected prime minister to the end of 2013, foreign investment flows into Pakistan reached $283 million, according to the Clearinghouse of Pakistan. Pakistan's government bonds are also attracting investors with yields declining from 11.69% on the ten year bonds to 7.54% by the end of 2013. Additional upswing sentiment comes from the government paying off $5 billion in debt that hurt investment in the energy sector. The oil and gas sector is about a third of the Karachi Stock Index. Total market capitalization on the Karachi Stock Index is $52 billion, and the largest company is Oil and Gas Development Company.
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S&P Downgrade Shows Gaps In Russia's Fortress Balance Sheet

2 Groups   
Wall Street Journal - 04.26.2014 Original article ›
Richard Barley, Richard, Barley
LyrArc Article Gist
Barley points out that Russia has two strengths as it tackles S&P's downgrade of its credit rating. The downgrade was a result of large capital outflows. He cites Moody's for the low level of government debt of about 13.5% of GDP in 2013, or about $265 billion. Interest payments on debt are about 1.7% of government revenues in 2014. And Russia has $442 billion in foreign exchange reserves as of April 1, to support its efforts and stabilize the economy. The weakness is that Russia depends on oil and gas exports for half of government revenues and 67% of exports, according to Moody's. Higher interest costs on Russia's bonds are one cost of the crisis, bonds due in 2023 have a yield of 5.6%, according to TradeWeb. This yield could go up higher.
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A Coup, but Backed by the People

1 Links 1 Groups   
New York Times - 07.04.2013 Original article ›
Sara Khorshid, Sara, Khorshid
LyrArc Article Gist
Sara Korshid, a Egyptian journalist, laments the wasted last two and a half years in which the military was ousted only to have the Muslim Brotherhood take office under a flawed and rushed road map set by the then military leaders, without a clear allocation of powers between the judiciary, parliament and the executive branches of government. The failure of the Muslim Brotherhood led by older authoritarian leaders to reach out to accomodate liberals -who supported Morsi and helped him get elected with 51% of the vote- leading to the ouster of president Morsi brings the Egyptian people back to square one. Real misgivings about having the military intervene are shared by liberals like Korshid, who are yet determined to start the process over to get it right.
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For Once-Mighty Sears, Pictures of Decay

1 Links 5 Groups   
New York Times - 10.29.2013 Original article ›
David Gelles, David, Gelles
LyrArc Article Gist
Sears adjusted earnings before Ebitda are a negative $250-300 million for the period July 26-Oct 26, 2013. Management is reducing investment in the retail stores. As a result there is a deterioration in the conditions at stores making it less attractive for shoppers to go to Sears. There is severe price competition from Amazon and online stores for established retail companies such as Target and Best Buy making it even more difficult for Sears to compete. Analysts say Mr Lampert, CEO of Sears, is an asset manager and Sears liquidation is likely to continue with sale of pieces of the company as it is worth more this way. Lands End, Sears Canada, and the Sear Auto stores brand are expected to be sold to raise cash in this ongoing liquidation process.
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Repairing Trust Among Allies

7 Groups   
New York Times - 11.01.2013 Original article ›
Wolfgang Ischinger, Wolfgang, Ischinger
LyrArc Article Gist
Wolfgang Ischinger, former German ambassador to the U.S. 2001-2006 and president of the Munich Security Conference, says that one thing that would make a difference in the current state of German and European relations with the U.S. after NSA spying on chancellor Merkel, is for president Obama to show contrition. The continuing dynamics are important, as is evident in the deterioration in relations in 2003 following the American intervention in Iraq when not enough was done, says Ischinger. His view is that the proposals to limit diplomatic personnel of the U.S. in European countries, or putting on hold the Trans-Atlantic trade talks, are not good ideas as they do not help restore trust. Building on a report by the European parliament in 2001 on protections against intelligence operations would be a good start.
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Vanguard Takes Fund Crown From Pimco

11 Groups   
Wall Street Journal - 11.05.2013 Original article ›
Ming Zeng, Ming, Zeng
LyrArc Article Gist
Money shifting out of the PIMCO Total Return Fund as returns from bonds decline in 2012-2013 and this fund returns are a negative 1.2% for 2013, assets under management decline to $247.9 billion by Oct 31, 2013 from $286 billion at the end of 2012. The Vanguard Total Stock Market Index Fund takes first place in size of funds, with returns of 27% in 2013, and $288 billion in assets under management up from $210 billion at the end of 2012. Index funds are increasing in popularity with low costs. This Vanguard Fund has expenses at 4 cents for every $100 invested compared to 46 cents for the PIMCO fund, because the index funds invest in all the stocks in a particular stock index avoiding management fees.
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Forget Dinner. It's Always Snack Time in America

1 Groups   
Wall Street Journal - 07.02.2014 Original article ›
Mike Esterl, Mike, Esterl
LyrArc Article Gist
The percentage of Americans snacking more than 3 times a day increased to 56% by 2010, according to government data. This was at 20% in the 1990's and 10% in the 1970's. And with this comes higher rates of obesity, as this has made for unhealthy eating and reduced the number of healthy meals. 48% of Americans skip meals 3 times a week and 53% decide what to eat for a meal less than an hour before eating, according to a Hartman Group survey. Not all snacks are unhealthy as food companies are introducing healthier snacks than before. The discipline of earlier generations for having a healthy meal at meal times has eroded with single person households, two career families, and the generally hectic pace of life.
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Exelon to Quit Chamber Over Climate Bill

1 Groups   
New York Times - 09.29.2009 Original article ›
Clifford Krauss, Clifford, Krauss, Kate Galbraith, Kate, Galbraith
LyrArc Article Gist
The apparent call by the US Chamber of Commerce for a Scopes type monkey trial cited in a Los Angeles times article -like that of the 1920' for evolutionists and creationists- to test the science of climate change, has led to vigorous protest from Exelon, autility company that manages most of the nuclear plants in the country. PG&M and PNM are other companies that vigorously protested these theatrics as they call it. The US Chamber of Commerce has opposed environmental legislation and is vocally opposing the EPA's use of an existing law, the Clean Air Act, to set limits on greenhouse gases. Exelon, PG&E, and PNM have withdrawn from the US Chamber of Commerce to protest. Other companies opposing the chamber's statements on climate change are Nike, J&J, Duke Energy.
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Jon Stewart and the Business Media

1 Groups   
Washington Post - 03.20.2009 Original article ›
LyrArc Article Gist
Readers Haven and Harrington comment on the op-ed "Don't Blame Jim Cramer", March 17, in the Washington Post. Jon Stewart took Jim Cramer and CNBC to task for helping inflate the financial bubble with the TV program. A lot of this went on on in all the news programs CNBC and on Bloomberg, as the business news media in their revenue model depend on viewers and advertising revenues, and are not rewarded for good reporting and analysis. Hype and other kinds of promotion, can win better ratings then patient, against the tide reporting and analysis. Reward systems determine the way, humans, media, and other things in our economics system respond. These are essentially unchanged and remain so one bubble after another, tech, housing, credit, on and on.
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Battle Lines Form Over Mortgage Plan

  
Wall Street Journal - 12.07.2007 Original article ›
Michael M. Phillips, Michael, M., Phillips, Serena Ng, Serena, Ng, John D. Mckinnon, John, D., Mckinnon
LyrArc Article Gist
The losses for investors from mortgage loans won't go down by much by Treasury's plan. Barclay's Capital Research estimates that losses could go down by 1% point from 13 to 15% losses that are expected on the subprime loans. And the economy would only be helped at the margins according to Roubini, a NYU economist who heads Roubini Global Economics, who doesn't see it doing much for the foeclosures and defaults leading to a housing recession for the next 3 years. Out of some 1.8 million borrowers, 600,000 not current on their payments will get no help, and of the remaining 1.2 million only 600,000 who are current on their mortgages but need help will qualify, those with better credit scores such as above 660 and having the means to pay will be excluded.
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Fields of Grain and Losses

1 Groups   
New York Times - 11.21.2008 Original article ›
David Streitfeld, David, Streitfeld
LyrArc Article Gist
On a farm in Texas where farmers have finished planting the winter wheatcrop, it cost $6 a bushel for fuel, seed and fertilizer to plant and not counting the price of renting land, when the price today is $5 a bushel for wheat. Most farmers like this farm in Texas kept a large portion of their wheat even as prices hit $10 a bushel hoping for higher prices, with prices having dropped to $5 a bushel in a short time things don't look so good. In places like Oklahoma which exports two thirds of its wheat farmers planted bigger wheat crops as prices jumped, and the wheat crop harvested in the spring is valued at $1 billion at the higher prices except that not all farmers sold their wheat.
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The Krugman Recipe for Depression

  
Wall Street Journal - 11.29.2008 Original article ›
Amity Shlaes, Amity, Shlaes
LyrArc Article Gist
Some thoughts on taking away from the private sector its resources and ability to create or preserve jobs as a matter of concern, as the public sector or government can only create temporary work jobs which are needed but not to the extent where the private sector resources are diverted and it gets compromised. The other matter of concern is spending that does not take into account the impact of higher and higher taxes on the economy. These concerns and the importance to strike the right balance so that new jobs can be created in useful infrastructure and energy spending and at the same time preserving the vitality of the private sector. And not overburden the system with higher taxes by government spending that is not carefully targeted to get best results and wisely done.
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U.S. Looks to Protect Domestic Car Makers From Foreign Competition

  
WSJ - 04.06.2018 Original article ›
Timothy Puko
LyrArc Article Gist
The Trump administration is looking at ways to protect U.S. automobile manufacturing by enforcing stricter environmental rules for automobile imports. The EPA is looking at whether VW which has 3.5% of the American market can be asked to meet stricter standards because the diesel emissions scandal gives the U.S. legal justification to set stricter emissions rules. VW has accepted that it used illegal software to evade government emissions tests. Such non tariff barriers are faced by the U.S. companies in Japanese, South Korean, Chinese markets. It is not clear how this would affect the 17.1 million cars made in NAFTA factories with parts made in one country and shipped for assembly in another country, between Canada, Mexico and the U.S.

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Original article 5 minutes, gist 1 minute

Tax Cuts Fuel Biggest Merger Spree Since 2000

  
WSJ - 03.06.2018 Original article ›
Paul J. Davies
LyrArc Article Gist
Comcast's bid for TV company Sky is one of many mergers planned in 2018. U.S. corporate tax cuts and incentives for investment are fueling a merger wave not seen since 2000, says this report in the WSJ. This report also points out that the amount spent on increasing wages at Walmart and AT&T is small compared to the hundreds of billions being spent on share buybacks and in pursuing growth or higher returns. Dealogic numbers show $325 billion going into bids for mergers launched so far in 2018 and much faster than the pace in the first months of 2000. About $200 billion have gone into share buybacks in 3 months to the end of Feb. 2018, according to WSJ analysis.

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Original article 2 minutes, gist 1 minute

Opinion | The ‘Failed’ Summit Isn’t So Funny in Seoul

  
New York Times - 03.02.2019 Original article ›
E. Danny Kim
LyrArc Article Gist
There is a loss of optimism in South Korea with the failed talks for denuclearization of the Korean peninsula. There is a big difference between the goal of the U.S. for denuclearization and the hope in SOuth Korea for an end to the cold war on the Korean peninsula. This report points out that though the U.S. signed an agreement ending the war on the peninsula South Korea and North Korea have never signed a peace agreement. There is in addition to the tensions about the conventional army of the North near Seoul, anxiety about the possible refugee influx from a failing North Korea after tighter sanctions that affect ordinary people in the North imposed by the Trump administration.

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Pound falls on fears of 'bare bones' EU trade deal

  
BBC News - 02.04.2020 Original article ›
LyrArc Article Gist
The pound falls in value to $1.30 as Mr. Boris Johnson rejects the requirement stated by Mr. Macron of France that Britain must follow EU rules. Mr. Johnson says Britain  will choose sovereignty over anything else, creating the possibility of a hard Brexit. He says the UK should not be expected to follow EU rules, anymore than the EU should be expected to follow UK rules. Business leaders hope these are opening statements only. 

Mr. Johnson want a Canada style agreement or failing this an Australia style agreement, and failing this he would stay with the existing Withdrawal Agreement with the EU he negotiated earlier. The UK wants to complete negotiations for a deal by December 31, 2020.

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Original article 3 minutes, gist 1 minute

The Invasion of Pakistan

15 Groups   
Wall Street Journal - 06.10.2014 Original article ›
Editorial

New Breed of Leaders Helped Guide Fuel Standards, Chrysler Says

14 Groups   
New York Times - 08.03.2011 Original article ›
Bill Vlasic, Bill, Vlasic
LyrArc Article Gist
Sergio Marchionne, CEO of Fiat-Chrysler told a conference in Michigan -"these are people who did not grow up and become conditioned to doing business in Detroit. " He cited this as one reason the new generation of leaders at the U.S. auto companies had embraced the new fuel efficiency standards. Another point he made that was well received was that "anybody who surrenders 14 years before the date ought not to be in business." He was referring to the 2025 deadline for the new standards. This view was well accepted by the other auto companies and by the UAW workers union, showing the big change that has come about in the U.S. auto industry.
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American Idyll

1 Groups   
Wall Street Journal - 01.17.2012 Original article ›
Ralph Gardner Jr., Ralph, Gardner, Jr.
LyrArc Article Gist
Morrison Heckscher, chairman of the Metropolitan Museum of Art's new American Wing. Here he takes the Journal's Gardener through the American Wing and talks about the renovation effort.
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1 Groups   
New York Times - 05.21.2012 Original article ›
Ben Yagoda, Ben, Yagoda

Turning a Phrase

1 Groups   
New York Times - 05.14.2012 Original article ›
Constance Hale, Constance, Hale

Just the Facts

1 Groups   
New York Times - 05.07.2012 Original article ›
Danny Heitman, Danny, Heitman

Fanfare for the Common Man

1 Groups   
New York Times - 04.09.2012 Original article ›
Ben Yagoda, Ben, Yagoda

The Sentence as Mini-Narrative

1 Groups   
New York Times - 03.19.2012 Original article ›
Constance Hale, Constance, Hale

Make-or-Break Verbs

1 Groups   
New York Times - 04.16.2012 Original article ›
Constance Hale, Constance, Hale

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