In today's FT: EM assets hit in fierce market sell-off, Fears of QE...


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Financial Times
In today's FT
Wednesday June 12 2013

Financial Times - UK Homepage
 
EM assets hit in fierce market sell-off
As yield on benchmark 10-year Treasury touched highest level in 14 months, Indian rupee hit record against US dollar and the rand its lowest in four years
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/VTDFDZ/6C/h?a1=2013&a2=6&a3=11
 
Fears of QE3 slowdown drive Treasury rates up
Surge in inflation-adjusted yields highlights investor expectations of moves to slow the $85bn-a-month, third round of quantitative easing
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/DXBAB3/6C/h?a1=2013&a2=6&a3=11
 
Turkish police storm Taksim Square
Hundreds of police wearing gas masks used tear gas and water cannons to remove the protesters from the central square in Istanbul
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/XBI3IX/6C/h?a1=2013&a2=6&a3=11
 

Financial Times - US homepage
 
Dimon pledges to fight Whale suits
Return to more combative style after JPMorgan chief received resounding vote of confidence from shareholders at annual meeting last month
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/20JTJU/6C/h?a1=2013&a2=6&a3=11
 
Tech groups urge US to ease security gag
Move follows broader effort by technology companies and advocacy groups in demanding more transparency around US spying programmes
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/EKGZG5/6C/h?a1=2013&a2=6&a3=11
 
Apple bonds lose 9% in six weeks
Tech giant tapped market for largest debt fundraising to date on April 30, but sharp turn in interest rates has wiped hundreds of millions off value
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/87UOU6/6C/h?a1=2013&a2=6&a3=11
 

Financial Times - Europe homepage
 
German heavyweights clash over euro plan
Constitutional court hearings are regarded as a barometer of German sentiment about eurozone crisis measures in run-up to September election
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/OF7I7H/6C/h?a1=2013&a2=6&a3=11
 
Nokia to stop shipping Symbian phones
Finnish group to end deliveries of last homegrown platform, leaving its fortunes resting entirely on Microsoft's fledgling Windows Mobile software
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/GY6MOK/6C/h?a1=2013&a2=6&a3=11
 
US warns EU on French culture protection
EU diplomats insist they are not violating promise to avoid excluding any trade issue, since audio-visual industries can still be discussed
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/XBI3IS/6C/h?a1=2013&a2=6&a3=11
 

Financial Times - Asia homepage
 
Dish's spoiling tactics left in tatters
SoftBank steals march for Sprint Nextel with an improved offer, compromising Dish's chances of acquiring the US wireless provider
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/XBI3I7/6C/h?a1=2013&a2=6&a3=11
 
South Korean women face glass ceiling
Women face many hurdles in the workplace as South Korea struggles to boost the female employment rate, which stands at just 55 per cent
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/LS2K28/6C/h?a1=2013&a2=6&a3=11
 
Investors vent fury at Facebook meeting
Zuckerberg expresses disappointment over depressed stock price, which remains about 40% below issue price of $38 more than a year ago
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/7ZP6P3/6C/h?a1=2013&a2=6&a3=11
 

World News
 
Struggle for Istanbul square turns messy
Taksim fills with protesters yet the turnout lacks the scale of previous days as the centre of Turkey's protest is once again disputed ground
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/K9VXVM/6C/h?a1=2013&a2=6&a3=11
 
Bloomberg proposes $19.5bn NY storm plan
Mayor proposes far-reaching measures designed to protect city from rising sea levels, more frequent storms, hotter temperatures and other effects of climate change
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/6A3833/6C/h?a1=2013&a2=6&a3=11
 
Drama grips court and gnaws at psyche
Germany's constitutional courton on Tuesday heard evidence on the legality, or otherwise, of the European Central Bank's plan to save the euro
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/20JTRZ/6C/h?a1=2013&a2=6&a3=11
 
Senators aim to test climate for snooping
A bill from a bipartisan group would oblige the attorney-general to explain the legal authority used to justify online surveillance activities
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/SUWSW0/6C/h?a1=2013&a2=6&a3=11
 
US abortion clinics face new restrictions
Conservatives in several US states are trying to make abortions so hard to obtain they amount to de facto bans, critics say
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/HIO509/6C/h?a1=2013&a2=6&a3=11
 

Companies news and analysis - FT.com
 
Google buys mapping app for $1bn
No terms for the deal were disclosed but two people close to the deal said that Google paid more than $1bn for Waze, which was founded in Israel in 2008
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/FD878B/6C/h?a1=2013&a2=6&a3=11
 
Goldman uncorks grand cru as collateral
The private bank of Goldman Sachs has snapped up an unusually liquid set of assets as collateral for a loan – almost 15,000 bottles of fine wine
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/CWH2HC/6C/h?a1=2013&a2=6&a3=11
 
Ferrari takes foot off output accelerator
Italian carmaker wants to pull away from the crowd and fuel the marque's exclusivity by cutting back output this year by 400 cars to 6,900 vehicles
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/CWH2B4/6C/h?a1=2013&a2=6&a3=11
 
Dole Food chief makes buyout bid
David Murdock offers $12 a share to buy rest of fruit company, which has struggled in recent years as volatility in commodity prices has hurt business
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/ULKRKN/6C/h?a1=2013&a2=6&a3=11
 
Shuanghui explores funding for US deal
With tight capital controls at home, Chinese group's acquisition of debt-heavy pork producer could be financed through listing in Hong Kong
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/A5LCLV/6C/h?a1=2013&a2=6&a3=11
 

Markets
 
Volatility follows Bank of Japan inaction
Uncertainty about central bank committment to providing stimulus drives stocks sharply lower and triggers a turbulent session for US Treasuries
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/Z8QUQ9/6C/h?a1=2013&a2=6&a3=11
 
Messy bond cocktail stirs talk of reset
Returns for every major sector of the bond market have been negative since the end of April and investors have started pulling money from bond funds
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/CWH2HP/6C/h?a1=2013&a2=6&a3=11
 
Hedge funds battered in quant arms race
Trend-following strategies – which have historically been at the core of what firms such as Man, Winton Capital, Cantab or BlueCrest Capital do – have sputtered
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/JQCWC3/6C/h?a1=2013&a2=6&a3=11
 
Investors should buy on market setbacks
The US and Japan have largely delevered, the eurozone shows some progress, and central banks will unwind QE slowly, says Robert Parker
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/1OSLSL/6C/h?a1=2013&a2=6&a3=11
 
CBOE pays $6m to SEC for policing failure
Options exchange operator settles with regulators over a civil administrative action alleging a breakdown in oversight from 2008-12
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/OF7I7B/6C/h?a1=2013&a2=6&a3=11
 

Financial Times - Comment
 
The overstated inflation danger
As Japan shows, even ultra-low interest rates do not protect an economy against the adverse impact of prolonged fiscal deficits and deflation
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/SUWSXL/6C/h?a1=2013&a2=6&a3=11
 
Erdogan's focus should be his own party
The protesters may have changed the terms of the debate but the real action will now take place in the Justice and Development Party and its ecosystem
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/NRZYZV/6C/h?a1=2013&a2=6&a3=11
 
Tech arms race pits state against citizen
The battle is on between a communications revolution that empowers the individual and a data revolution designed to protect governments
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/OF7I74/6C/h?a1=2013&a2=6&a3=11
 
A tyranny of the few in a single-issue age
The oppression of small groups in society was feared in the past but these days those with a strong motivation exert undue influence
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/LS2K2Z/6C/h?a1=2013&a2=6&a3=11
 
Ms Beauty escapes the trinket trash
Tourism in China is not a solitary experience. Climb the highest mountain and there is always someone selling trinkets to help you enjoy it
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/A5LCT5/6C/h?a1=2013&a2=6&a3=11
 

Financial Times - Management
 
Let the right one in
One of a company founder's toughest challenges is finding the best person to run the business when they step aside from the chief executive role
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/NRZYZ1/6C/h?a1=2013&a2=6&a3=11
 
The wrongs that write a business plan
From business jargon to vague or even non-existant CVs, many common elements in proposals are best avoided if you want to appeal to financiers
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/YGEPQ8/6C/h?a1=2013&a2=6&a3=11
 
Should staff shout to be heard by a boss?
CDI chief Paulett Eberhart wants staff to pound their 'fists on the table' to get her attention, raising questions whether employees ever have to be so demonstrative
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/52NG3M/6C/h?a1=2013&a2=6&a3=11
 
Eating well on trips
A change of surroundings, climate and time zone can play havoc with diet and appetite but a few rules will help to keep your mind and body sharp
http://link.ft.com/r/8P1R88/LS8IIS/NSVWP8/VLP1F6/20JTR8/6C/h?a1=2013&a2=6&a3=11
 
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Video
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Exposure to China’s wealthier consumers has been a boon to the French spirits group. Lex writers Nikki Tait and Oliver Ralph discuss how efforts by Chinese authorities to rein in gifting could hit the company.


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