News: 2014-02-25

News links for 25 Feb 2014



For Abenomics, ‘Third Arrow’ is the Hardest — and Most Needed – Real Time Economics – WSJ

“Mr. Posen said Abenomics had correctly identified four areas as particularly ripe for reform – agriculture, labor markets, healthcare and female participation in the workforce – but needs to push more vigorously on those fronts.”


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Foreign trade drives fourth quarter German growth as domestic demand disappoints | Reuters

“Seasonally-adjusted data from the Federal Statistics Office on Tuesday confirmed an earlier flash estimate showing German gross domestic product (GDP) increased by a modest 0.4 percent on the quarter between October and December compared with 0.3 percent during the previous three months. A detailed breakdown showed domestic demand subtracted 0.7 percentage points from growth while foreign trade, which had been weak for much of 2013, added 1.1 percentage points to GDP. “

Five million German households faced with higher power bills | Reuters

Euro zone inflation shows biggest monthly fall in January | Reuters

Why the euro inflation number is worse than it looks | Money Supply

The Irish Economy – Class divides and European integration, yet again

“a majority of French working class voters now want to leave the Euro. Indeed, only 34% of French workers think that EU membership is a good thing.”

Christine Lagarde thinks the troika got it wrong on Greece? If only she knew | Alex Andreou | Comment is free |

Benn Steil and Dinah Walker: Restoring Financial Stability in the Eurozone – Council on Foreign Relations

“The example of the 2009 U.S. bank stress tests suggests that having adequate funds precommitted to bank recapitalization is essential to their success, and that such success is itself critical to promoting economic recovery.”


Emerging Markets

Venezuela allows CNN to stay, calls for ‘balanced’ reporting on ongoing unrest | The Verge

China’s $12 trillion corporate debt pushes up refunding costs, drives mergers | Reuters

China’s Property Market Shows Strongest Signs Yet of Cool-Down –

Beijing Enters Fifth Day of Intense Air Pollution, More Expected – China Real Time Report – WSJ

China’s Luxury Boom Moves to the Web – China Real Time Report – WSJ

Publishers withdraw more than 120 gibberish papers : Nature News & Comment

“Most of the conferences took place in China, and most of the fake papers have authors with Chinese affiliations.”

Russia says won’t deal with mutineers who took power in Ukraine | Reuters

Russian banks could easily absorb Ukraine credit losses – Moody’s | Reuters

BBC News – Ukraine crisis: Russia steps up Ukraine rhetoric

“Russian PM Dmitry Medvedev said interim authorities in Kiev had conducted an “armed mutiny”. And the Russian foreign ministry said dissenters in mainly Russian-speaking regions faced suppression.”

Making sense of the fragile-five category of emerging-market laggards /Euromoney magazine

EM debt investors undeterred by turmoil –

“Countries including Indonesia, Turkey, Slovenia, Mexico and Colombia have sold a record amount of dollar-denominated bonds so far this year, in sales that were largely oversubscribed, people familiar with the offerings said.”


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First Look: Samsung Goes “Back to Basics” With Galaxy S5 | Re/code

Spec showdown: Samsung Galaxy S5, Sony Xperia Z2 versus the competition | Android and Me

Samsung Galaxy S4 vs Samsung Galaxy S5 comparison

Samsung Tries On Another Wearable With Fitness-Focused Gear Fit | Re/code

Nokia pees in their pants

“Nokia using Android would be like Finnish boys who pee in their pants for warmth during the cold winter.”

Netflix packets being dropped every day because Verizon wants more money | Ars Technica

Comcast’s deal with Netflix makes network neutrality obsolete

“Indeed, in the long run, this development threatens the survival of independent backbone companies like Cogent. If it becomes industry practice for backbone providers to pay residential ISPs, companies like Cogent will become mere resellers of access to the networks of large broadband companies. Or they may be cut out of the loop altogether, as large customers such as Netflix cut deals directly with broadband providers such as Comcast. One clear lesson, though, is that further industry consolidation can only make the situation worse. The more concentrated the broadband market becomes, the more leverage broadband providers like Comcast and Verizon will have over backbone providers like Cogent. That gives the FCC a good reason to be skeptical of Comcast’s proposed acquisition of its largest rival, Time Warner Cable. Blocking that transaction could save the agency larger headaches in the future. “

Marc Andreessen says more net neutrality laws are not the answer

AT&T speaking to Netflix about deal for faster speeds | Reuters

Netflix Shares Hit Record Highs After Comcast Pact – MoneyBeat – WSJ

Cogent Communications CEO to Present at J.P. Morgan’s Global High Yield & Leveraged Finance Conference – MarketWatch

New attack completely bypasses Microsoft zero-day protection app | Ars Technica

New iOS flaw makes devices susceptible to covert keylogging, researchers say | Ars Technica

U.S. now bugging German ministers in place of Merkel – report | Reuters

Blackphone pricing and Deutsche Telekom security push bode well for mobile privacy

Dropbox Has Raised $350M In New Funding At A $10B Valuation | TechCrunch

Messaging Giant WhatsApp, Now With 465M Users, Will Add Voice Services In Q2 Of This Year | TechCrunch

Kids May Be Leaving Facebook, but They Love YouTube | Re/code



Inside the Showdown Atop Pimco, the World’s Biggest Bond Firm –

The Coinbase Blog — Joint Statement Regarding MtGox

Bitcoin Exchange Mt. Gox Goes Offline Amid Allegations of $350 Million Hack | Wired Enterprise |

BitBeat: Update From the Engine Room – MoneyBeat – WSJ

“Mt. Gox’s problems only seem to be getting worse. The latest blow to its reputation: The Tokyo-based exchange’s CEO, Mark Karpeles, has resigned from the Bitcoin Foundation after an online petition for the firm to exit the trade body garnered 1,740 signatures. The story was broken late Sunday by our Robin Sidel.”

Gold Climbs to 16-Week High as U.S. Data Adds to Haven Demand – Bloomberg


North America

Geithner Among Fed Losers in 2008, Dudley Among Winners – Real Time Economics – WSJ

Calculated Risk: Housing Weakness: Temporary or Enduring?


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