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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.

The Fed? Ron Paul's Not a Fan.

2 Groups   
New York Times - 12.11.2010 Original article ›
Sewell Chan, Sewell, Chan
LyrArc Article Gist
Rep. Ron Paul, assumes chairmanship of the House sub-committee that will oversee the US Federal Reserve. He is the author of the 2009 book "End the Fed." He is critical of the Greenspan-Bernanke Fed policy on interest rates, calling it an inflation of the money supply, penalizing the thrifty and cheating those who save, promoting consumption and spending over saving and investing. He views it as economically destructive. He views Fed policy in other areas as immoral, such as what he calls a counterfeiting operation-creating new money out of thin air- to sustain monopolistic financial cartels.
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Downturn's Ugly Trademark: Steep, Lasting Drop in Wages

4 Groups   
Wall Street Journal - 01.11.2011 Original article ›
Sudeep Reddy, Sudeep, Reddy
LyrArc Article Gist
The longer the recession, the lower the wages on the next job and the quality of work in the next job, says Columbia University labor economist, Till von Wachter. It may take years for the wages of these workers to catch up to what they were before the recession. From 2007 to 2009, more than half the full time workers who lost jobs they had held for more than 3 years, and then found full time work by early 2010 reported wage declines, according to the Labor Department. About 36% reported the new job paid at least 20% less than the earlier job.
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Spain Comes to the Aid of Its Banks

2 Groups   
Wall Street Journal - 01.25.2011 Original article ›
Christopher Bjork, Christopher, Bjork
LyrArc Article Gist
Spain's finance minister, Elena Salgado, says the state backed Fund for Orderly Bank Restructuring, will acquire direct equity stakes in the Cajas, Spain's regional banks, for upto 5 years. The Bank of Spain's preliminary estimates of the capital needs of the banking sector are below 20 billion euros, according to Salgado. The Spanish government will raise the Tier 1 capital requirements for all banks to 8% and will inject capital into lenders that do not meet the new requirements. The moves are designed to reassure investors who lack information about the true financial condition of the cajas.
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Eager Consumers Buy iPhone 4

3 Groups   
Wall Street Journal - 06.23.2010 Original article ›
Juro Osawa, Juro, Osawa, Cecilie Rohwedder, Cecilie, Rohwedder, Ian Sherr, Ian, Sherr
LyrArc Article Gist
Since 2007 Applle has sold 50 million units of the Apple iPhone, making it Apple's largest business. With the New iPhone 4 analysts expect Apple to sell about 37 million phones in the fiscal year to September 2010. This would be a 79% increase over the 20.7 million sets sold in the prior year. And of global sales analysts say about 55% of sales for the iPhone are from outside the US, compared to 25% 2 years ago. There is a lot of excitement among iPhone fans waiting in line at Apple stores in Europe and Japan, long before the stores opened.
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GM Seeks Partners for Car Loans

4 Groups   
Wall Street Journal - 06.24.2010 Original article ›
Sharon Terlep, Sharon, Terlep
LyrArc Article Gist
GM is looking for ways to be able to provide more loans to buyers. Its working with lenders and financial institutions to be able to offer more loans to increase sales. GM continues to work with the old GMAC, now called Ally Financial Inc, but it is looking for new partners to expand financing to car buyers. It has studied the options of regaining control of GMAC's auto lending business or starting its own finance company. For now it is looking at working with other lenders to reach buyers who are at the lower end of the income and credit scale.
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Paying for higher education: The cap fits

1 Groups   
Economist - 11.11.2010 Original article ›
Economist.Com
LyrArc Article Gist
The new coalition government in Britain has cut direct state funding for teaching in universities by 40%. The current cap on tution fees of 3,290 British pounds a year will be removed The universities Minister, Mr Willetts, suggested a cap of 9000 pounds a year. Students pay after graduation and after earning more than 21,000 pounds, at a rate of 9% of income above that level. Graduates in future will pay 3% interest above retail price index of inflation, compared to zero percent before this. But the interest rate drops to zero if the graduate loses his job or enters lower paid work.
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AMD, Globalfoundries Restructure Relationship

7 Groups   
Wall Street Journal - 03.05.2012 Original article ›
Don Clark, Don, Clark
LyrArc Article Gist
Global Foundries was created in 2009 when AMD spunoff its manufacturing operations, including its chip making operation in Dresden, Germany. It is now owned by Abu Dhabi based Advanced Technology Investment Company, after AMD gave up its 8.8% stake in the company and paid $425 million to Global Foundries to be able to source from other companies. The agreement waives a requirement that AMD source wafers based on the new production processes and technology from Global Foundries and allows negotiation of prices. Global Foundries had difficulties in making circuitry that measures 32 nanometres on silicon wafers.
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Spain Downgraded On Debt Concerns

  
Wall Street Journal - 04.27.2012 Original article ›
David Román, David, Román
LyrArc Article Gist
S&P downgraded Spain's credit rating from A to BBB-plus. Moody's Investors service maintained Spain's rating at A3, one notch above S&P, and Fitch Ratings kept the rating at A, two notches above S&P. S&P says it sees a deteriorating economic outlook for Spain with the economy contracting at 1.5% in 2012 and 0.5% in 2013. Prior forecasts by S&P showed GDP growth of 0.3% in 2012 and 1% for 2013. S&P predicts net general government debt at 76.6% of GDP in 2014, up from its prior estimate of 64.6% of GDP.
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In India, an Inflation Dilemma

6 Groups   
Wall Street Journal - 05.15.2012 Original article ›
Anant Vijay Kala, Anant, Vijay, Kala
LyrArc Article Gist
The Indian government reports the benchmark wholesale price index for April 2012 was at 7.23%, up from 6.89% in March. The wholesale price index measures bulk sales between corporations and is considered a better measure than the old consumer price index, which lacks representative data from all regions. The wholesale price index does not include services, which make up half of the economic output. A new CPI has been introduced, but more data has to be gathered for it to become a dependable measure of inflation. Core inflation excluding food and energy, which focusses on the manufacturing sector, increased 5.1%.
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Telefónica's Pain Now Spreads Beyond Spain

1 Links 4 Groups   
Wall Street Journal - 06.01.2012 Original article ›
Hester Plumridge, Hester, Plumridge
LyrArc Article Gist
Telefonica offers part of its dividend in shares to conserve cash and considers IPO listings for operations in Germany and Latin America. Earnings decline by 54% in the first quarter of 2012. Shares have lost over 30% in 2012. Net debt is 57 billion euros, larger than its market capitalization and forecast at 2.7 times Ebitda. JP Morgan estimates show that sale of call center Atento for 1 billion euros, and stakes in in China Unicom and O2 in the Czech Republic could bring an additional 6 billion euros, which would bring debt down to 2 times Ebitda.
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Boris Johnson, Tory With an Attitude

3 Groups   
New York Times - 06.01.2012 Original article ›
Erview By Andrew Goldman, Erview, By, Andrew, Goldman
LyrArc Article Gist
Mayor Johnson on the city, its new buses, and how he got introduced to politics in the city of Wolverhampton, England. He prefers the hop-on, hop-off, classic London buses, that use British technology which he reintroduced. His point about how he got started in politics is an eye-opener- the time time as a reporter in Wolverhampton, when he got fed up with the stuff about the damp and mold and needing ventilation in people's homes, which Labor politicians made it appear that it was the state's responsibility, making people dependent just for the votes.
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Ratko Mladic’s Lawyer to Seek Medical Evaluation

1 Groups   
New York Times - 05.27.2011 Original article ›
Doreen Carvajal, Doreen, Carvajal
LyrArc Article Gist
The haggard condition and failing health of the Bosnian Serb General Ratko Mladic. Mladic is wanted for war crimes and ethnic cleansing as commander of the Bosnian Serb army in 1992-94. He eluded arrest and was in hiding for 15 years, till his arrest in mid 2011. The efforts to transfer him to the Hague to stand trial at the International Court of Justice. The Serbian government is keen to use the arrest as an opportunity to close this chapter of the nation's history and start a new one with membership in the European Union.
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Four Funds Key to Vanguard

9 Groups   
Wall Street Journal - 01.08.2015 Original article ›
Daniel Huang, Daniel, Huang
LyrArc Article Gist
Vanguard Index funds attracted $233 billion in new investment in 2014, according to Morningstar. Of this $40 billion went into the Vanguard Total Stock Market Index Fund, $27.5 billion into the Vanguard Total Bond Market Index Fund, and $9 billion into the Vanguard Total International Bond Market Index Fund. The poorer returns from actively managed funds with high fees and the PIMCO Total Return Fund led to this shift into index funds. For every $100 in investment with Vanguard index funds the cost in fees is about 18 cents compared to $1.24 in the average actively managed mutual fund, according to Morningstar.
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U.S. Productivity Growth Has Taken a Dive

1 Links 3 Groups   
Wall Street Journal - 02.04.2014 Original article ›
Prescott, Ohanian
LyrArc Article Gist
The U.S. annual productivity growth rate has averaged about 1.1% since 2011, says Nobel prize winner Prescott, about half the 2.5% rate since 1948. If productivity growth remains low his estimate is that U.S. living standards will increase by only about 12% by 2024, instead of 28% at the historical rate of productivity growth. A similiar situation happened in Japan after its financial crisis in the 1990's, with low productivity growth not deflation being the primary cause. The rate of new business startups is important to improve productivity growth as this has fallen behind since 2011.
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Wal-Mart's Big-Box Formula Comes Under Strain

9 Groups   
Wall Street Journal - 02.21.2014 Original article ›
Shelly Banjo, Shelly, Banjo, Michael Calia, Michael, Calia
LyrArc Article Gist
Wal-Mart's efforts to boost its smaller stores as customers go to competitors when they make midweek trips for small basket size fill-in supplies. Sales at Wal-Mart for the year ending Jan 31, 2014, show flat sales. By comparison sales at its smaller stores and neighborhood markets were up 5%. Online sales were up 30% to $10 billion and are growing rapidly. Wal-Mart's sales forecast for 2014 are for sales to increase modestly by 3%. It will incur additional $330 million in benefit costs for healthcare under the new law for workers signing up for its healthcare plan.
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Merkel Cites ‘Threats’ in Warning to Cameron

10 Groups   
New York Times - 06.10.2014 Original article ›
Alison Smale, Alison, Smale
LyrArc Article Gist
Germany's chancellor Merkel sees Britain as necessary for Europe and the European spirit. This even though she has differences with British prime minister Cameron on how to elect the new president of the EU following EU parliamentary elections in May 2014. She told the German parliament in June 2014- "Britain is really no cozy partner. Yet Germany and Britain share values and interests. I consider it grossly negligent, in fact unacceptable, how easily some people say that it is really all the same whether Britain goes along or not, or more: whether Britain remains a member of the European Union or not."
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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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Mexico Pitches Oil Sector Overhaul to Skeptical Audiences

5 Groups   
Wall Street Journal - 08.14.2013 Original article ›
José De Córdoba, José, De, Córdoba, Laurence Iliff, Laurence, Iliff
LyrArc Article Gist
Efforts by the Mexican government to sell the constitutional changes for reviving the oil industry. TV ads show children with hands wet from crude oil running through fields, then the slogan appears: "No to privatization, Yes to the energy reform." The purpose is to convince a skeptical public that oil resources will be safe and not given away to foreigners. Also an issue is whether the secondary laws will allow foreign oil companies to show Mexican oil reserves in their reserve figures, and whether the changes will attract interest from foreign oil companies to bring new technology and investment.
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Japan in a Post-Growth Age

1 Links 7 Groups   
New York Times - 12.02.2013 Original article ›
Norihiro Kato, Norihiro, Kato
LyrArc Article Gist
Norihiro Kato, a professor at Waseda University, describes the change of heart of former prime minister and LDP leader, Junichiro Koizumi, after visitng a nuclear waste facility in Finland. Koizumi who supported nuclear power for Japan has now come out in opposition to dependence on nuclear power. Kato presents the idea of a post-growth phase for Japan in which nuclear power is phased out, as is being done in Germany. The idea being that Japan does not strive for a return of an earlier period of growth but looks to creating a new future that is different from the past.
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Nelson Mandela, Communist

4 Groups   
New York Times - 12.07.2013 Original article ›
Bill Keller, Bill, Keller
LyrArc Article Gist
Bill Keller reflects on Mandela's contacts with and one time participation in the Communist party. At the time the communists were the only organization with whites supporting the ANC, as the ANC was completely black. The result in shaping Mandela's thinking were positive in his views for a multiracial South Africa. Communist type liberation ideology has also hadicapped African countries including the ANC party in that it has failed to bring in new thinking and different views. Keller brings special insights into this behaviour as he covered both the Soviet Union 1986-1991, and South Africa 1992-1995, for the NYT.
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Japan Policy Shift to Ease Restrictions on Military

1 Links 3 Groups   
Wall Street Journal - 07.02.2014 Original article ›
Alexander Martin, Alexander, Martin, Toko Sekiguchi, Toko, Sekiguchi
LyrArc Article Gist
Japan's cabinet approves a change in interpretation for Article 9 of the constitution to permit "collective self-defense." The wording was negotiated with the more pacifist New Komeito party in the coalition government to cover attacks on Japanese allies such as the U.S., but limit it to actions that seriously threaten Japan. Because the Liberal Democratic party of prime minister Abe controls both houses of parliament the change is likely to go through. The U.S. president Obama, Defense Secretary Hagel, and Rear Admiral John Kirby of the U.S. Navy see this as improving security and stability in the region.
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Alibaba Offers to Take Web Portal Unit Private

4 Groups   
Wall Street Journal - 02.22.2012 Original article ›
Paul Mozur, Paul, Mozur, Prudence Ho, Prudence, Ho
LyrArc Article Gist
China's internet commerce company Alibaba's plans to take the publicly traded company private in a $2.3 billion deal. Alibaba is focussing on improvements in security, supplier quality and improving the quality of its internet sites. This comes after its credibility was affected by the revelation that 100 employees were in collusion with 2,300 sellers to make up false listings. The focus is now shifting away from profitability and increasing the number of users. Alibaba's chairman, Jack Ma, says taking the company private will help the company get the new focus without the pressures faced by a publicly listed company.
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Deterrence in the Age of Nuclear Proliferation

2 Links 1 Groups   
Wall Street Journal - 03.07.2011 Original article ›
George P. Shultz, George, P., Shultz, William J. Perry, William, J., Perry, Henry A. Kissinger And Sam Nunn, Henry, A., Kissinger, And, Sam, Nunn
LyrArc Article Gist
Shultz, Perry,Kissinger and Nunn, bring their long years of experience in defense and international affairs to the issue of updating America's policy of nuclear deterrence based on mutually assured destruction. Since the end of the Cold War conditions have changed and the threat of nuclear destruction has taken new forms. Efforts to reduce the threat of nuclear war, nuclear weapons proliferation, and other dangers stemming from nuclear weapons development, also need to change to reflect the changing times. They outline proposals for these changes based on meetings on these issues at the Hoover Institution in California.
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Gas Boom Projected to Grow for Decades

7 Groups   
Wall Street Journal - 02.27.2013 Original article ›
Russell Gold, Russell, Gold
LyrArc Article Gist
Increasing supplies of natural gas in the U.S. will play out over 3 decades and reshape industry and manufacturing in the U.S. A new study by the University of Texas and funded by the Sloan Foundation of the Barnett shale rock formation shows that large quantities of natural gas are available that can be drilled at a cost of $4 per million BTU. This is only slightly higher than the current price of $3.43. This makes the increasing supply of lowcost natural gas a multi decade development, according to the Bureau of Economic Geology at the University of Texas.
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Obama’s Fault

1 Links   
New York Times - 03.03.2013 Original article ›
Bill Keller, Bill, Keller
LyrArc Article Gist
Bill Keller is a former Editor of the New York Times. Here he says Obama missed opportunities to tackle U.S. deficit problems in his first term by tackling health care first, followed by his lack of support for his own presidential commission on the deficit led by Simpson-Bowles. He is now making similiar mistakes at the beginning of his second term by not embracing the "unpleasant choices" he talked about in his first inaugural address. By using scare tactics about the $85 billion sequester spending cuts, Keller says Obama is losing credibility, especially because the idea originated in the White House.
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