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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.

Philippines Plans for a Weak Dollar

1 Groups   
Wall Street Journal - 12.22.2010 Original article ›
James Hookway, James, Hookway
LyrArc Article Gist
Philippines finance secretary, Cesar Purisima, says the country should reduce its dependence on foreign remittances and prepare for a prolonged period of US dollar weakness. Foreign remittances support a large proportion of household spending in the Philippines. With the appreciation of the peso, the dollar and euro remittances translate into fewer pesos. In 2009 the 10 million or so foreign workers sent back about $18 billion. In an interview with the WSJ, he said that the Philippines is trying to reduce its dependence on foreign denominated debt and will continue efforts to replace it with Philippine peso bonds. Refinancing the Philippines debt in pesos provides the economy with more stability and less foreign exchange risk.
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S&P President Corbet Is Replaced

  
Wall Street Journal - 08.31.2007 Original article ›
Aaron Lucchetti, Aaron, Lucchetti, Serena Ng, Serena, Ng
LyrArc Article Gist
Deven Sharma takes charge at Standard and Poors, a unit of McGraw Hill. He worked on S&P's strategy as a consultant at Booz Allen and was executive VP at Standard and Poors. McGraw Hill stock has lost 26% of its value so far this year. half of McGraw Hill's revenue came from S&P, a growth of 21%, a large part of it was made rating structured finance products such as mortgage securities which brought in higher fees than rating corporate or municipal bonds possibly because of the way that market operated and because it provided higher ratings to help the mortgage securitization grow rapidly even when the ratings did not make good sense.
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Beware of 'Market Predictors'

15 Groups   
New York Times - 03.26.2012 Original article ›
Carl Richards, Carl, Richards
LyrArc Article Gist
Financial Planner Carl Richards, warns investors about relying too much on market predictions. He cites the law of small samples as one way things go wrong. Another is investment managers with good track records in one decade doing badly in the next decade- David Miller in the 70's and Bill Miller of the Legg Mason Value Fund are others. To show how ridiculous market predictions based on computer models can get he gives the example of a researcher who found that over a 13 year period butter production in Bangladesh 'explained' 75% of the fluctuations in the annual returns of the Standard & Poor's 500 stock index. Adding in U.S. cheese production and the total population of sheep in Bangladesh and the U.S., this researcher was able to forecast past U.S. stock returns with 99% accuracy.
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Petrobras Sets Ambitious Capital Budget

7 Groups   
Wall Street Journal - 06.22.2010 Original article ›
Jeff Fick, Jeff, Fick
LyrArc Article Gist
Petrobras plans investments of $224 billon over the next 5 years 2010-2014, up from $174 billion planned in the 2009-2013 plan. The focus is on development of large offshore oil reserves in the presalt area in the Atlantic ocean.
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Ireland’s Debt to Foreign Banks Is Still Unknown

4 Groups   
New York Times - 11.23.2010 Original article ›
Jack Ewing, Jack, Ewing, Julia Werdigier, Julia, Werdigier
LyrArc Article Gist
Ireland owes $139 billion to German banks and $132 billion to British banks according to the Bank for International Settlements in Basel, Switzerland. German officials said in Berlin that Deutsche Bank was especially exposed to Ireland. But Deutsche Bank does not say that, it insists the money at risk is $400 million euros, calculated after the use of derivatives to hedge risk. Total gross exposure is not revealed by Deutsche Bank. This makes investors more nervous and promotes the spread of contagion to Greece and Portugal.
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Bernanke Says Faster Growth Is Needed to Bolster Job Market

12 Groups   
New York Times - 03.26.2012 Original article ›
Binyamin Appelbaum, Binyamin, Appelbaum
LyrArc Article Gist
With 40% of the unemployment shown as longterm unemployed, U.S. Federal Reserve policies are focussed on bringing down these levels, which pose a risk to the productive capacity in the U.S.
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Six Investment Moves to Make Now

1 Groups   
Wall Street Journal - 08.17.2012 Original article ›
Ben Levisohn, Ben, Levisohn, Kirsten Grind, Kirsten, Grind, , Joe Light, Joe, Light, Julie Steinberg, Julie, Steinberg

The Man at the Center of Solar-Panel Maker Suntech's Fall

5 Groups   
Wall Street Journal - 05.03.2013 Original article ›
Wayne Ma, Wayne, Ma

BofA Warned to Get Stronger

3 Groups   
Wall Street Journal - 11.22.2011 Original article ›
Dan Fitzpatrick, Dan, Fitzpatrick

Even Bastion Indonesia Not Immune

4 Groups   
Wall Street Journal - 09.23.2011 Original article ›
Alex Frangos, Alex, Frangos, Patrick Barta, Patrick, Barta

ECB Curbs Bar Some Banks

3 Groups   
Wall Street Journal - 12.07.2011 Original article ›
Anusha Shrivastava, Anusha, Shrivastava

Where to Find the Next Crop of Dividend-Paying Stars

4 Groups   
Wall Street Journal - 08.17.2012 Original article ›
Jack Hough, Jack, Hough

Squaring the circle

4 Groups   
Economist - 11.13.2009 Original article ›
Economist.Com
LyrArc Article Gist
The asset bubble may be due to the huge infusion of liquidity in the economy. This inflates the value of financial wealth in stocks relative to real wealth in goods and services and businesses that produce them. Industrial production is down but stock prices are up. This leads to distortions that can show up elsewhere such as in the currency markets with depreciating dollar or in the stimulus being withdrawn too early.
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Original article 4 minutes, gist 1 minute

Italy Leader, Monti, Tells Germany Austerity Isn't Enough

1 Links 23 Groups   
New York Times - 01.11.2012 Original article ›
Nicholas Kulish, Nicholas, Kulish
LyrArc Article Gist
Italy's new prime minister Mario Monti, was frank in his views about depending on austerity alone to meet the debt crisis, views also shared by President Sarkozy of France. Monti told an interviewer from the German newspaper Die Welt, before meeting German chancellor Merkel in Berlin: In the absence of specific help "a protest against Europe will develop in Italy, also against Germany, which is viewed as the ringleader of E.U. intolerance, and against the European Central Bank." He went on to say-"I cannot have success with my policies if the E.U.'s policies don't change." He pointed out that economic difficulties could drive Italy to "flee into the arms of populists."
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Jerry Brown'€™s Last Stand in California

2 Links 5 Groups   
New York Times - 05.04.2011 Original article ›
Adam Nagourney, Adam, Nagourney
LyrArc Article Gist
Adam Nagourney is Los Angeles Bureau chief of the New York Times. Here he follows California Governor Jerry Brown's efforts to tackle the state's fiscal problems, and talks about his many conversations with Brown. He describes Jerry Brown the man, how he and the state he governed years ago have changed, and the challenges he faces in finding solutions to the state's financial problems. Nagourney and Brown talk about the problems with the political culture in the state, how things have changed- Brown was 36 when he bacame governor in his previous term and is now 73 in this term- how term limits have created their own set of problems with the lack of experienced legislators who can push bills through.
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Greece's Buyback Effort Advances

1 Groups   
Wall Street Journal - 12.12.2012 Original article ›
Stelios Bouras, Stelios, Bouras, Costas Paris, Costas, Paris, Matthew Dalton, Matthew, Dalton

Euro Crisis Still Poses Threat, Germany’s Central Bank Asserts

2 Groups   
New York Times - 11.14.2012 Original article ›
Jack Ewing, Jack, Ewing

Why Treasurys Won't Crater

7 Groups   
Wall Street Journal - 03.23.2012 Original article ›
Ben Levisohn, Ben, Levisohn
LyrArc Article Gist
Experts view the behaviour of 10 year Treasury yields at different periods following the 2008 financial crisis. Twice in early 2010 and early 2011 there were signals that the economy was not so weak before faltering, each time 10 year Treasury yields went up to 3.75-4% before going down to the 2.24% level. This situation appears to be happening again in 2012 with rates dropping in the first quarter to between 1.82%- 2.11%. The yields on 10 year Treasury jumped again, this time to 2.39% on March 19, 2012, as the eurozone crisis fears and U.S. economic growth fears subsided for the time being.
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Brazil’s Star, Petrobras, Is Hobbled by Scandal and Stagnation

1 Links 7 Groups   
New York Times - 04.15.2014 Original article ›
Simon Romero, Simon, Romero, Landon Thomas Jr., Landon, Thomas, Jr.

Greece's Hazardous Road to Restructuring

4 Groups   
Wall Street Journal - 02.03.2012 Original article ›
Stephen Fidler, Stephen, Fidler

Euro Jitters Ricochet Across U.S.

2 Groups   
Wall Street Journal - 06.18.2011 Original article ›
Michael Corkery, Michael, Corkery

ECB to Hire Hundreds of Supervisors

4 Groups   
Wall Street Journal - 03.14.2013 Original article ›
Tom Fairless, Tom, Fairless, Laurence Norman, Laurence, Norman
LyrArc Article Gist
The ECB is making plans to meet new staffing needs to act as the supervisor of 6000 banks in the 17 country eurozone. As part of its effort to meet its new role as banking supervisor starting in mid-2014 the ECB will hire about 800 new supervisory staff by that date. Additional personnel will be added following this first step, according to ECB officials.
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Despite Obstacles, Petrobras Shares Are on Rise

7 Groups   
Wall Street Journal - 07.24.2014 Original article ›
Will Connors, Will, Connors, Luciana Magalhaes, Luciana, Magalhaes

Buffett Bets $5 Billion on BofA

3 Groups   
Wall Street Journal - 08.26.2011 Original article ›
Dan Fitzpatrick, Dan, Fitzpatrick
LyrArc Article Gist
Warren Buffett's Berkshire will invest $5 billion on "cumulative perpetual" preferred stock in Bank of America. These shares will pay a 6% annual dividend. In addition Berkshire gets warrants giving it the right to purchase $5 billion in Bank of America common stock at $7.14 a share. The Bank of America share price was $7.63 on August 25, 2011. The warrants if exercized could leave Berkshire with 6.5% ownership stake in the bank. The deal comes as Bank of America's share price is under severe pressures in the financial market.
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Why the ECB’s Big Guns Can’t Win This War

3 Groups   
Wall Street Journal - 03.10.2016 Original article ›
Richard Barley, Richard, Barley

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