Results tagged “wallstreet”

Freddie Mae, S&P, Lehman, Goldman, Nikkei and The Intern fight it out to be the ultimate Wall Street Fighter in this hilarious new video clip from the guys at CBFresh.

With 6.1 million college students graduating in 2009 amidst the economic gloom, many will have a hard time finding jobs immediately. Those that do will have to make do with lower pay.

In a new dispatch on how the American brand has been dented by the ongoing financial crisis, AFP says Chinese accounting firm Lehman Brown which has long been threatened with lawsuits from a "certain Wall Street investment bank" is now "suddenly open to a name change":

CHINA-BASED accountants Lehman Brown refused to budge when lawyers acting for a certain Wall Street investment bank sent threatening letters demanding they change their name.

Continue reading "Accounting firm Lehman Brown to finally change its name?"

Photo by Jakob Montrasio.

Xinhua: Danish PM wishes for closer cooperation with China in New Year

Taco Bell, we hardly knew ya. An article in this morning's Metro Express commuter paper reported that a Yum Enterprises spokesperson has confirmed the closing of Shanghai's two Taco Bell Grandes, at People's Square and in Gubei, as well as the chain's single Shenzhen location. Instead of pushing Americanized Mexican food in a tough market, the owners of KFC and Pizza Hut have chosen to concentrate on expanding their new Chinese "quick service" venture East Dawning (东方既白), which according to Dianping.com already has 10 locations sprinkled throughout greater Shanghai. The People's Square former Taco Bell Grande will become East Dawning's flagship location. According to TIME magazine:

What should a Wall Street firm do when it loses billions on risky bets in the mortgage securities market? Have its CEO call the Chinese government for a capital infusion of course. Bear Stearns did it back in October. Yesterday, Morgan Stanley announced a USD $5 billion equity investment from China Investment Corp. after writing down USD $9.4 billion of its mortgage securities portfolio, ouch! China Investment Corp. is the USD $200 billion sovereign wealth fund that the Chinese government has setup to invest its massive foreign currency hoard, estimated at roughly USD $1.4 trillion.

Yesterday's copy of the Wall Street Journal has a very interesting observation: that few of China's top political and business leaders these days have white hair:

It is possible that could have something to do with genes, but something else is involved, too. For aging men of influence here, the dye job appears to have become as commonplace as the Mao suit once was.

Continue reading "WSJ: Nary a white strand of hair in the Politburo Standing Committee"

Bear Stearns, the troubled US investment bank may soon find the People’s Republic of China among its key shareholders. According to Dow Jones Newswires, Jiang Dingzhi, vice chairman China Banking Regulatory Commission confirmed reports of China Citic Bank holding preliminary discussion with Bear Stearns for a stake in the Wall Street firm. China Citic Bank is a division of China Citic Group, an investment arm of the Chinese government. Bear Stearns’s Tokyo spokesperson refused to comment on the story.

To improve pork quality, Beijing pigs will listen to soothing music

Li Heping, an outspoken Chinese lawyer said Wednesday he was abducted and beaten for hours, and accused of causing unrest by representing clients with complaints of official corruption and police abuse.

A man on the inside sent us this Brand Republic story from late last week. If you've ever wondered why bloggers never link to the South China Morning Post or why you don't see any stories from them on Google News, here's why:

Not content with making cars and computers for the world, China is now on to its next big thing -- aircraft. The long-awaited ARJ-21 (pictured here) is China's very first homegrown commercial aircraft and has been launched amid much fanfare by the aircraft maker AVIC I. Now only a name is lacking, and if you can come up with a creative Chinese name of between two and four Chinese characters before September 28, RMB50,000 will be yours! (Sorry apparently English names are worth nothing).

CNN's John Vause says he's lost 10 pounds in recent weeks as reports of tainted food have come out in China.

For too long, many domestic TV entertainment channels have profaned music and the notion of competition by giving top honors to tomboys or sissy boys for being what they are - boyish girls and feminine boys - NOT for what or how they sing. The realm of music (which if not sacred should at least require some talent) suffered most when Li Yuchun, a tomboy whose voice was the weakest of all the finalists in a national singing contest in 2005, walked away with the "Super Girl" championship. Shi Yang, a boy who dances like a young woman, became a hot idol during the "My Show" contest in Shanghai last year.

Editor's Note: Sorry, forgot to send these out last night in our rush to get to the Sonic Youth show.

• Leading Chinese Enviro Activist Detained
  "In the meantime,here, from today’s Wall Street Journal, is another thing all those green minded local officials are doing: locking up irksome environmental activists"
• China to keep 2008 Olympics 'dry'
  "Beijing will use aircraft, missiles and cannons in what could amount to a massive umbrella over the city to keep athletes dry during next year's Olympics, state media reported on Friday."
• U.S. knew about China's anti-satellite test, chose not to act, says N.Y. Times
  "U.S. intelligence knew about preparations for January's test in China of an anti-satellite weapon but the U.S. government chose not to intervene because of insufficient leverage with Beijing, The New York Times reported on its Web site Sunday."
• Speeding, Overloading Blamed for Road Tragedy
  "The guardrails on each side of the bridge were only ten centimeters in height, far lower than the minimum height of 46 cm required by law, Li Yizhong, Minister of the State Administration of Work Safety (SAWS), said at the scene of the accident."
• Beijing to destroy its oldest Peking Opera house
  "The Guanghe Theatre, which sits in Beijing's historic Qianmen quarter, will meet the wrecking ball, making way for the capital's "remorseless" onslaught of modernisation, Xinhua news agency reported."
• Foreign banks offer tea,insurance to lure Chinese
  "For those Chinese rich enough to open an 80,000 yuan ($10,350) account, Citigroup Inc and Standard Chartered are now promising an alternative to the long queues at China's big state lenders."
• Doing business in China: Popular Shanghai restaurant falls prey to joint venture dispute
  "The lights at Renren Restaurant now are dim all the time. The once thriving cafe has fallen prey to a dispute between the Hong Kong company represented by Ho, a Canadian citizen, and its mainland Chinese partners, who want him out."
• Top 40 blogs according to Zhuaxia stats
  Chinese blogs. Keso is No. 1.
• China delays climate change plan indefinitely
  "China has delayed indefinitely its national 'action plan' on climate change, which was due to be released on Monday after exhaustive consultations among ministries in Beijing and provincial and local governments."
• Shanghai signboards call for Chinese
  "The all-English signboards are catering to a false admiration for anything Western. Some people tend to think it's a high-end shop if the name is written in a foreign language," said Huang Anjing, an editor of a local monthly journal, Yaowen Jiaozi.
• 9 Tough Tricks, and a Title for Shanghai
  "This year’s world bridge championships are in Shanghai beginning Sept. 29. And one week ago Shanghai won the Chinese Contract Bridge Association Open Teams championship, beating Qinggong in the 96-board final, 239 international match points to 211."
• Image damage
  "Xuhui District People's Court ... ordered the Shanghai Normal University to compensate 9,000 yuan (US$1,166) to Francesca Manganelli [who] said the institute used her photo without her agreement in an advertisement for student recruitment in June 2005."
• 非常真人's photo-comic blog
  "非常真人，非常娱乐 (Very Real People, Very Entertaining) is a blog that posts short, amusing photo-comics of every day life in Beijing."
• China Yields to Inquiry on Pet Food
  "China .. has given American regulators permission to enter the country to investigate whether Chinese suppliers exported contaminated pet food ingredients to the [US] earlier this year, leading to one of the largest pet food recalls in American history."
• China aims to further tame Web
  "Chinese President Hu Jintao on Monday launched a campaign to rid the country's sprawling Internet of 'unhealthy' content and make it a springboard for Communist Party doctrine, state television reported." This happens every week, no?
• China molten steel tragedy highlights lax industry
  "Lax safety measures, unsuitable equipment and 'chaotic' conditions have been blamed for the deaths of 32 steel workers engulfed in molten metal, Chinese investigators announced, warning that such failings were common."
• Letter from Beijing: Enemy of the State
  "Jianguo was arrested and tried in the summer of 1999, and I remember with perfect clarity the moment I learned what had happened."

China has moved a step closer to diversifying its US$1.07 trillion in foreign reserves, with the yet-unofficial appointment of two senior officials to head new vehicles that will seek to invest a portion of China's reserves, which are the largest in the world.

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The Wall Street Journal tells us that the QP marks a change in McD's marketing strategy: Rather than trying to localize their food to suit the palettes of the Chinese, they are, with the QP, insisting on the cultural integrity of the product -- almost:

The Wall Street Journal has finally picked up on the BlackBerry/RedBerry fight in China -- maybe they have been reading Shanghaiist? Nah. Maybe? WSJ’s online edition has an interesting article here (in Chinese) if you want to find out the latest goings-on in the “War of the Berries”.

From the February 27 issue of New York magazine, we learn that Shanghai is the No. 1 destination New Yorkers are "fleeing" to (Nos. 2 and 3 are Budapest and Pittsburgh, naturally). Here's what the magazine wrote about our city: