· GOOD
NEWS – U.S.
As per recent newspaper headlines in
U.S., home prices accelerate by most in seven years while surging consumer
confidence pointed in some resilience for the economic recovery. The data also
suggested the two segments could act as buffers as the broader economy faces
the pinch of belt-tightening in Washington. The S&P/Case Shiller composite
index of 20 metropolitan areas climbed 10.9 % year over year beating
expectations for 10.2 %. This was the biggest increase since April 2006.
· NOW,
INDIAN BANK OFFICERS : MORE CAUTIOUS
In India, bank officials would be
more cautious in granting loans, following the 1 year imprisonment sentence
mooted to a mooted to a former Indian Bank Chairman for granting a loan without
adequate security. The loans granted against collateral turn sour as in the
case of Kingfisher. Mallya cancelled the power of attorney on the pledged
shares !
· ESSAR
GROUP
Recently, Essar Group got a sanction
of $ 400 m for its working capital needs from two Chinese banks. Three of the
top 5 banks in the world by market capitalization are Chinese.
· INDIAN
PHARMA COMPANY RANBAXY FINED
Ranbaxy, now owned by Japanese
Daiichi was made to pay a $ 500 m because the US FDA found that the company has
falsified data. Daiichi plans to sue the Singh brothers for not disclosing full
information prior to sale of their holdings in Ranbaxy. The one who came out of
on top was the whistleblower who pocketed $ 48 m.
· SOME
US DATA – DIFFICULT TO BELIEVE !
1. Back
in 1980, the US national debt was less than one trillion dollars. Today, it is
rapidly approaching 17 trillion dollars. 2. During Obama’s first term, the
federal government accumulated more debt then it did under the first 42 US
presidents combined. 3. The US national debt is now more than 23 times larger
than it was when Jimmy Carter became president. 4. If you started paying off
just the new debt that the US has accumulated during the Obama administration
at the rate of one dollar per second, it would take more than 184000 years to
pay it off. 5. According to the World Bank, US GDP accounted for 31.8 %
of all global economic activity in 2001. The number dropped to 21.6 % in 2011.
6. The United States has fallen in the global economic competitiveness rankings
compiled by the World Economic Forum for four years in a row.7.According to The
Economist, the United States was the best place in the world to be born into
back in 1988. Today, the United States is only tied for the 16th
place. 8. More than 56000 manufacturing facilities in the United States have
been permanently shut down since 2001.9. According the New York Times, there
are now approximately 70000 abandoned buildings in Detroit. 10. There are less
Americans working in manufacturing today than there was in 1950 even though the
population of the country has more than doubled since then. 11.Overall, the
United States has run a trade deficit of more than 8 trillion dollars with the
rest of the world since 1975.12. In the United States today, the wealthiest one
percent of all Americans have a greater net worth than the bottom 90 %
combined.
· CHINA’S
DEBT
As pointed out by Charlene Chu, a
Fitch analyst, total debt to GDP in China has hit levels where a red flag needs
to be raised. Cheap credit is a trait that marks most of financial crisis we
have witnessed till date. The next economy that is inviting a financial
crisis is China.
· JAPANESE
ECONOMY
The Japanese economy has witnessed
two long decades of stagnation and in a bid to revive economic growth, the
Japanese Prime Minister has taken some extreme and high risk steps. The Bank of
Japan has pledged to double its monetary base. The Japanese government is
overburdened with debt.
· RESERVE
BANK OF INDIA MAKES LOAN RECASTS DIFFICULT FOR FIRMS, BANKS
RBI says banks should set aside more
money, promoters have to be liable for compensation for losses lenders incur.
·
CASH
TRANSFERS IN INDIA BOOST SPENDING ON EDUCATION, HEALTH : STUDY
Present government’s move to shift
to direct cash transfers from subsidies, set to be a campaign plank in the next
general election, received a boost from a study released recently which showed
such an initiative led to an improvement in savings and spending on education
and health.
· SUZLON
Q4 NET LOSS WIDENS TO RS 19127.20 M
Wind turbine maker Suzlon energy
Ltd’s fourth quarter net loss widened to Rs 17127.2 m from the year-ago net
loss of Rs 3002.40 m. Non-routine costs including forex loss, asset
impairments, tax credit reversals added upto Rs 11000 m.
· TATA
MOTORS NET DROPS 37 %
Tata Motor’s fourth quarter net
profit fell by a less than expected 36.7 % as the robust performance of its
Jaguar Land Rover Automotive PLC unit helped the company to make up for
flagging sales at home yet again.
· SAMSUNG’S
SUPERFAST 5G
Samsung has successfully tested
superfast fifth-generation (5G) wireless technology. It will enable users to
download an entire movie in one second. The new technology will be not be ready
for the market before 2020.
· IGATE
SACKS PHANEESH MURTHY OVER RELATIONSHIP WITH EMPLOYEE
Phaneesh Murthy, sacked by software
service provider iGate Corporation, as president and chief executive over
accusations of improper sexual conduct and an allegation of sexual harassment
by a female employee. Murthy will contest the matter if staffer goes to court.
I N
S P I R A T I O N A L
Peter Drucker, the legendary management consultant and author says about
teamwork : The leaders who work most effectively, it seems to me, never say
‘I’. And that’s not because they have trained themselves not to say ‘I’,
They don’t thin ‘I’, they think ‘We’, they think ‘team’, they understand their
job to be to make the team function. They accept responsibility and don’t
sidestep it, but ‘we’ get the credit….This is what creates trust, what enables
you to get the task done.”
The bottom line is that it’s easy for any organization to say…. “We
value teamwork.”
L A U G H !!!
Once a peon of an office trying to speak in English to a guest. Then the
guest appreciate him and told “From where you have learned to talk English?”
The peon replied “I have learned, ‘You Understand?’ from our MD, “I love you”
from the TV and ‘Good Morning’ from our receptionist madam.
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