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National Security?
Softbank’s latest Sprint Nextel offer is a seat on the board for Uncle Sam
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feed me seymour
Here’s what Ben Bernanke just did to rock the markets
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P&L
After bouts of drama, HP’s turnaround is taking hold
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Thanks for listening
The Steve Jobs emails that show how to win a hard-nosed negotiation
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Investors just gave Galaxy Securities $1 billion to make China’s bad debt problem worse
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high steaks
Why you won’t be eating an Argentinian steak anytime soon
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Shiny Things
Saks is improving as a retailer, but real estate is its crown jewel
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How about them Apples
If American corporations are people, why aren’t they taxed like people?
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Why Thomson Reuters doesn’t stand much chance of displacing Bloomberg’s chat service
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Hizzoner's Dishonor
If mayors matter more than ever, why are they acting like buffoons?
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Smart charging stations for electronic cars are extremely vulnerable to hacking
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The proposal
Sony considers Loeb’s spin-off proposal, but rebirth might require a miracle gadget
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Why the ATMs of the future will look a lot like an iPad with Skype
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P&L
Target joins the “blame-the-weather” club
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Emotional intelligence is a better predictor of success than IQ
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Patience is a virtue
If Japanese exports have gotten so cheap, why isn’t everyone buying them?
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Good Karma
China’s hunger for electric car technology may give Fisker a second chance
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Life imitates AMC
Breaking Bad, Taiwan-style: Rogue chemistry teacher cooks up illegal food additive
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rote
Students are the victims and culprits of India’s broken higher education system
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countries versus companies
Apple’s tax bill is a window into the global post-industrial economy, and all its problems
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Contact Sport
To locate the next Arab Spring revolution, look to the soccer stands
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Manning the trenches
China’s Internet battle lines are being formed as Alibaba goes shopping with Qihoo 360
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pandemic deferred
China’s bird flu has been conquered—at least for now
Forget the fiscal cliff, remember…Germany?
The latest data appear to confirm a broader trend: German industry is slowing down. Industrial production fell 1.2% year-over-year in September.
Factset
We’ve been commenting lately (in fact, ad nauseam) on the undeniable signs of slowdown in Germany. The euro area’s economic powerhouse has so far been able to resist economic deterioration across Europe, and has been seen as a safe haven as countries like Portugal, Ireland, Italy, Greece, and Spain flounder. Regardless of Germany’s capability to survive and generate growth in the long term, today we received confirmation that Germany has been pulled into the European death spiral:
- The European Commission slashed projections for German GDP growth in 2013 to +0.8% from the +1.7% it had projected in May.
- German industrial production fell 1.8% in September, far worse than analysts expected (-0.5%).
- European Central Bank president Mario Draghi now believes that Germany is finally beginning to feel the effects of the crisis. “Germany has so far been largely insulated from some of the difficulties elsewhere in the euro area. But the latest data suggest that these developments are now starting to affect the German economy,” he said in a speech today.
European markets all took a plunge on Draghi’s comments. US markets have fallen too. It’s unclear to what extent these fears are generated by Barack Obama’s election victory, which reawakens businesses’ concerns about the “fiscal cliff” and stricter financial regulation, and to what extent Europe is leading the charge. But it’s clear that US markets have more than just their own domestic issues to watch out for.
