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Welcome to the Global Book Corporation Vision
Global Book Corporation becomes a pioneer and leader in the foreign imported magazines and books industry in Vietnam, entirely focuses on the retailing of English books, magazines, e-books and e-databases. Our goal is to provide customers with a wide variety of choices and to promote reading in the community. |
| WORLD NEWS |  A special report on financial risk - The gods strike back | Financial risk got ahead of the world’s ability to manage it. Matthew Valencia (interviewed here) asks if it can be tamed again
“THE revolutionary idea that defines the boundary between modern times and the past is the mastery of risk: the notion that the future is more than a whim of the gods and that men and women are not passive before nature.” So wrote Peter Bernstein in his seminal history of risk, “Against the Gods”, published in 1996. And so it seemed, to all but a few Cassandras, for much of the decade that followed. Finance enjoyed a golden period, with low interest rates, low volatility and high returns. Risk seemed to have been reduced to a permanently lower level. | | | With friends like Hank - Hank Paulson's book revives worries about GE | | IT IS supposed to be a cosy chat between friends, but the onstage conversation scheduled for February 18th between Hank Paulson and Jeffrey Immelt could turn into a fight to preserve the reputation of at least one of these corporate titans. Until a few days ago this event, to be held at a cultural centre in New York, looked like a classic example of the old pals’ act—Mr Paulson, a former treasury secretary and boss of Goldman Sachs, having insisted on being interviewed about his new book by his friend, Mr Immelt, the boss of General Electric, rather than by a journalist. (In a similar event on February 9th Mr Paulson took soft-ball questions from another old chum, Warren Buffett.) | | | M & A - Another one bites the dust | Cadbury goes American. Is this healthy for British manufacturing?
WHY can’t Britain hang on to ownership of iconic brands such as Jaguar, Land Rover, the Mini, Rowntree, the Times and now Cadbury, purveyor of chocolate to children of the British empire? On January 19th, after a four-month battle, Roger Carr, chairman of Cadbury, said his board was recommending to shareholders a £11.9 billion ($19.5 billion) takeover bid by Kraft Foods, of Northfield, Illinois. Somehow, despite the blustering of politicians and the protests of organised labour, great companies like this one have been slipping out of British control. | |
| | BUSSINESS | | Toyota - Accelerating into trouble | The company’s problems sharply illustrate the failings of Japanese corporate governance
IT IS hard to overstate the importance of Toyota in Japan’s business psyche. The company has long been regarded as the pinnacle of Japanese innovation, manufacturing quality and industrial strength—particularly since it overtook General Motors in 2008 to become the world’s biggest carmaker | | | Business this week | | Toyota’s recent troubles worsened. The company has recalled millions of cars in the United States, Europe and China because of potentially faulty accelerator pedals. This week it launched a PR offensive to assure customers that it could fix the problem by inserting a metal bar into the pedal’s mechanism. A snag also emerged with the braking system on its bestselling Prius model. Still, Toyota raised its earnings outlook for the year ending in March despite the cost of the recall, which it estimated at $2 billion. See article | | | Business this week | | Barack Obama presented his administration’s latest proposals for bank reform. Advised by Paul Volcker, a former chairman of the Federal Reserve, the president wants to stop banks with insured deposits from trading on their own account and from owning or investing in private equity and hedge funds. To restrict banks that “are too big to fail”, the cap on the size of a bank, limiting it to holding no more than 10% of the share of insured deposits, would be expanded to take in other sources of funding. See article | |
| | THE ECONOMIST with NEW INFORMATION | | Economics focus - Mix message | Barack Obama’s advisers lay out some steps to a rebalanced economy. Others are out of his hands
FEW things have frustrated Washington’s punditocracy more than the search for “Obamanomics”, a consistent set of principles that underpins Barack Obama’s thinking on the American economy. “We can’t afford another so-called economic ‘expansion’ like the one from the last decade…where prosperity was built on a housing bubble and financial speculation,” Mr Obama declared in his state-of-the-union address last month. Well, OK. But what, then, should the next expansion be like? It usually falls to a president’s Council of Economic Advisers to drape his pronouncements in respectable economics. Mr Obama’s council attempts to do just that in its annual “Economic Report of the President”, released on February 11th. | | | A special report on social networking - A world of connections | Online social networks are changing the way people communicate, work and play, and mostly for the better, says Martin Giles (interviewed here)
Special report.
A special report on social networking
A world of connections
Online social networks are changing the way people communicate, work and play, and mostly for the better, says Martin Giles (interviewed here)
Jan 28th 2010 | From The Economist print edition
Illustration by Ian WhadcockTHE annual meeting of the World Economic Forum in Davos, currently in progress, is famous for making connections among the global great and good. But when the delegates go home again, getting even a few of them together in a room becomes difficult | | | Time to get tough | Barack Obama’s first year has been good, but not great—and things are going to get a lot harder
HOW far away it seems, that bitingly cold, crystal-clear morning when almost 2m people filled the Mall from Capitol Hill to the Washington Monument to hear the new president talk of the victory of hope over fear, of unity of purpose over conflict and discord. Recalling the dark days of the war of independence, he pledged, like George Washington, that in the face of common danger Americans under his leadership would come forth to meet it. One year on, how well has he done? | |
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