Stocks stuck on fiscal cliff treadmill

Click above for more market data.

NEW YORK (CNNMoney) -- U.S. stocks drifted lower Friday as investors remain sidelined by political gridlock in Washington.

It's been a rough few weeks for investors, as lawmakers and President Obama engage in brinksmanship over year-end tax hikes and spending cuts. The so-called fiscal cliff could harm the economy at a time when the outlook for growth is already in question.

Economic data released Friday wasn't helping matters much, with a report showing personal income remained unchanged in October, while spending declined by 0.2%.

"That's a concern because the consumer has been a pillar of the economy," said Doug Cote, chief market strategist at ING Investment Management. "The numbers were clearly below consensus and the market didn't like that."

A survey of purchasing managers in the Chicago area improved slightly in November, after two consecutive months of decline. The Chicago PMI inched up to 50.4, moving back above the level indicating growth.

The Dow Jones industrial average fell 0.1%, while the S&P 500 lost 0.2%. The Nasdaq declined nearly 0.3%.

While the Dow and S&P 500 are both on track to end the week little changed, the Nasdaq is headed for a gain of more than 1%.

Related: Fear & Greed Index stuck in neutral

Friday also marks the last trading day of November, which started off with two weeks of heavy selling. But stocks have clawed back from those steep losses over the past couple of weeks, putting the major indexes on pace to end the month right where they started.

And you can blame the fiscal cliff for that.

Speaker John Boehner said Thursday that lawmakers in Congress have made "no substantive progress." A day earlier, he said he was "optimistic" that a compromise will be reached "sooner rather than later."

The talks will go down to the wire and the outcome will either be massive spending cuts and tax increases that kick in automatically, or negotiated spending cuts and tax increases, said Keith Springer, president of Springer Financial Advisors in Sacramento, Calif.

"Either way, all Americans are held hostage by the shenanigans, yes I called it 'shenanigans,' and unprepared investors will be punished," Springer said.

Related: America's debt challenge

A few stocks were making big moves Friday. Shares of St. Jude Medical (STJ, Fortune 500) rallied after the hospital's board authorized a $1 billion stock buyback. Yum! Brands (YUM, Fortune 500) sank after the firm softened its expectations for China, predicting same-store sales in that key market would decline 4% in the fourth quarter.

Zynga (ZNGA) shares also extended their decline Friday, after tumbling 13% after-hours Thursday on news that the terms of its deal with Facebook (FB) had substantially changed.

Verisign (VRSN), the company that makes money off the .com registration, sold off sharply after it said it reached a new agreement with the Commerce Department that bars future price increases.

Meanwhile overseas, Asian markets played catch-up Friday, but were also helped by the approval of a new stimulus package in Japan and expectations of strong Chinese factory data due over the weekend. Extending weekly gains, the Nikkei rose 0.48%, the Hang Seng advanced 0.49% and the Shanghai Composite jumped 0.85%.

European stocks ended modestly higher, despite news that eurozone unemployment hit a new record high in October.

In other overseas news, the pace of economic growth in India slowed during the latest quarter. The country's GDP, the broadest measure of a nation's economic health, grew at a rate of 5.3%.

The dollar slipped against the euro, but was firmer against the British pound and Japanese yen. In the commodities market, oil prices edged higher, while gold headed lower.

Bond prices held steady, with the yield on the 10-year U.S. Treasury note edged up to 1.62%.

First Published: November 30, 2012: 9:47 AM ET

View the original article here

Verisign deal blocks .com price hikes

Click on the chart to view more information about Verisign's stock.

NEW YORK (CNNMoney) -- Verisign, the operator of the .com domain name registry for the World Wide Web, will be forbidden from regularly raising registration prices over the next six years.

The company renewed its contract with the U.S. Commerce Department on Friday, but under the terms of the new deal, Verisign will not be able to continue its practice of frequently raising prices by as much as 7% -- something Verisign did in four out of the six years covered by its last deal. Currently, registration prices sit at $7.85 per year.

The Commerce Department will need to approve any price hikes on .com registration through 2018, which it only plans to do for "extraordinary expenses related to security or stability threats."

Shares of Verisign (VRSN) fell by 15% on the news.

Verisign has been operating the .com and .net top-level domain registries since 2000 under an agreement with the Domain Name System overseer, the Internet Corporation for Assigned Names and Numbers. But Verisign's contract renewal was strongly opposed by the Internet Commerce Association, which represents website owners.

ICA claimed that Verisign's price hikes were arbitrary and not done out of economic necessity. The group pointed out that Verisign charges just $5.86 for the far less-used .net domain name, even though both domains use the same infrastructure and have similar operational costs.

Related story: Do Not Track is dying

The new Verisign contract is only a partial win for ICA. The organization was hoping to end Verisign's "monopoly" status.

The agreement also gives Verisign some wiggle room: The pricing restrictions could be removed if Verisign can prove to the Commerce Department that "market conditions no longer warrant such restrictions," according to the deal.

Verisign praised the new deal.

"This is an important event that provides certainty and sets a clear direction for the company," Jim Bidzos, Verisign's CEO, said in a prepared statement.

The market for services like Verisign's is growing fast. The largest-ever expansion of the Internet's naming system is in progress and will soon open the door to new domain names like .home, .inc, .blog, .book, .shop and .llc.

Separately, the global standards-setting Internet Society in June launched a new Internet Protocol standard called IPv6 that expanded the number of unique Internet addresses from 4.3 billion to 340 trillion trillion trillion.

Verisign said it is working to "meet the performance and scalability demands of .com" by upgrading its infrastructure to support IPv6 and other new specifications.

First Published: November 30, 2012: 9:58 AM ET

View the original article here

The daily deals market looks bleak

It's been a grim few months for Groupon and LivingSocial, the leading companies in the troubled daily deals field.

NEW YORK (CNNMoney) -- It's been a winter of discontent in the daily deals space, with serious issues afoot at kingpins Groupon and LivingSocial.

Financial analysts have long criticized the daily deals field for its low barrier to entry and unproven long-term viability. A recent string of bad news for the top two companies in the space has only given them more fodder.

"The field is going through some growing pains," says Unaiz Kabani, data product manager at Yipit, a research firm that tracks the daily deals space.

The season's unhappy tidings began in late October, when Amazon (AMZN, Fortune 500) reported a worse-than-expected loss due in part to its investment in LivingSocial. Amazon lost a whopping $169 million on its $175 million buy-in.

Bad news hit LivingSocial more directly on Thursday, when the company announced layoffs of 400 employees, or 10% of its global workforce. The majority of the layoffs were in the sales, editorial and customer service departments.

Meanwhile, daily deals leader Groupon suffered through its own terrible earnings report. Groupon (GRPN) shares lost nearly a third of their value earlier this month, after the company reported that its third-quarter revenue growth slowed sharply. It was a plunge Groupon's stock could ill afford, bringing it well under $3 -- a shocking 89% below its IPO price just one year prior.

The stock slump led to rumors this week that Groupon's board is itching to oust company founder and CEO Andrew Mason, who did little to dispel the reports.

"Our stock is down 80% [year-to-date] ... it would be weird for the board not to be asking that question," Mason said at a conference on Wednesday.

It remains to be seen whether Mason can turn it all around and keep his job, but the success of Groupon and LivingSocial are critical to the deals field. Groupon currently holds 50% to 55% of the industry's market share, followed by LivingSocial with 20% to 25%, according to Yipit data.

Yipit used to track the dozens of monthly entries and exits into the daily deals field, but the company stopped that practice last year when the space began to thin out.

"In the long tail there might be sites going in and out, but not the levels from before," says Kabani, the data manager. "A lot of it is people realizing how expensive it is to enter and to do well. It's easy to make a website, but not so easy to get people to visit it."

Related story: LivingSocial: Things are going to get worse

After Groupon and LivingSocial, market share drops off precipitously. The list of who follows them fluctuates a bit, but Travelzoo, Google (GOOG, Fortune 500) Offers and AmazonLocal (AMZN, Fortune 500) usually round out the top five, according to Yipit. They usually hold only 5% to 10% of the market each at any given time.

Still, Yipit thinks there's room for more than one daily deals leader.

"Groupon has headed more into selling actual goods, while LivingSocial has been focusing more on local, like live events and concerts," Kabani says. "They'll all continue to overlap, but you'll see some specialization, too."

First Published: November 30, 2012: 11:39 AM ET

View the original article here

The iPhone 5 & iPad mini go to China

FORTUNE -- There was mixed reaction on Wall Street to Apple's (AAPL) announcement about which new products are headed to China and when they might get there.

The key paragraph (with irritating trademark symbols stripped out):

The Wi-Fi versions of iPad mini and fourth generation iPad with Retina display will be available in China on Friday, December 7, and iPhone 5 will be available on Friday, December 14. iPad mini and the new fourth generation iPad with Retina display are currently available in 42 countries, and iPhone 5 is available in 47 countries, including the US, Australia, Canada, France, Germany, Japan and the UK.

Excerpts from the early analyst's reactions:

Piper Jaffray's Gene Munster: China iPhone Launch Slightly Earlier Than Expected. "We had previously expected both products to go on sale in China during the quarter and while the iPad timing is generally in-line with our prior thinking, the iPhone 5 will be available about a week earlier than we expected. The bottom line is that the China iPhone 5 announcement gives us slightly greater confidence in our 45 million unit iPhone estimate for December."

Topeka's Brian White: During the Year of the Snake, Expect China to Devour the Apple. "Although we expected the iPhone 5 to arrive in China in December, we were not expecting the iPad mini and fourth generation iPad to be launched in the country this year. Also, we were surprised on the upside by the fact the new iPads are now in 42 countries, while the iPhone 5 rollout seems a bit slower than expected and in 47 countries."

ISI's Brian Marshall: Quick Thoughts on AAPL's continued penetration of China. "We continue to expect the iPhone 5 will be in ~100 countries and ~240 carriers by the end of Dec (e.g., nearly 100% of their total carrier partner base). From a technology perspective, the iPhone 5 is significant as it is the first iPhone capable of running on all 3 major carrier networks in China (e.g., CHL, CHU, CHA.) Big question remains however…when will China Mobile (CHL, world's largest carrier with ~700 million wireless subs) start selling the iPhone? Our best guess is 2H13."

More as they come in.

View the original article here

The cost of cheap clothes at Wal-Mart, Sears

Fires at a Bangladesh apparel factory that made items for retailers like Wal-Mart and Sears killed 112 workers last weekend.

NEW YORK (CNNMoney) -- A deadly fire at a Bangladesh apparel factory that manufactured items for major U.S. stores like Wal-Mart and Sears raises troubling questions about the high cost of cheap clothing, and whether the world's largest companies are doing enough to monitor worker conditions in their overseas production facilities.

A total of 112 people were killed and at least 200 more were injured in a fire Saturday at the Tazreen Fashions Factory, located near Bangladesh's capital city Dhaka. Two days later, another apparel factory near Dhaka caught fire. Ten people were injured after jumping from windows to escape the inferno at the 10-story building. Eye witnesses say that managers had locked the windows and gates to the buildings, which had no fire escapes, effectively trapping the workers in.

Photos of items sold at Wal-Mart (WMT, Fortune 500) taken in the Tazreen Fashions factory surfaced in the days following the fire. The retailer responded by saying that the factory was no longer authorized to produce merchandise for it.

"A supplier subcontracted work to this factory without authorization and in direct violation of our policies. Today, we have terminated the relationship with that supplier," Wal-Mart said.

Sears (SHLD, Fortune 500) also said that the factory produced merchandise for the retailer without its approval and that it has since terminated its relationship with the vendor.

On its website, Wal-Mart says it monitors undisclosed subcontracting by conducting audits and enhancing its standards for suppliers. It defines subcontracting as factories in its supply chain that weren't properly disclosed or that it didn't know about.

Sears also said that the factory violated its code of conduct.

Related: Why Wal-Mart workers are striking

Workers rights experts, however, claim that it's unlikely that retailers wouldn't know where their stuff is produced, as a matter of cost and production control.

"In order to be profitable, you have to control the supply chain, monitor quality, prices and the speed of delivery," said Scott Nova, executive director of the Worker Rights Consortium. "It's strange that a company would say they had no idea who was making stuff for them."

Wal-Mart's website says the retailer conducted 9,737 audits on 8,713 factories that supply private-label and non-branded goods to Wal-Mart in 2011. The audits, completed by what it calls accredited or internationally recognized auditing firms, are carried out every six to 24 months.

But the reports are not published online. Nor are they shown to factory workers, according to Nova.

"There's no transparency. They never publish their findings as to whether or not there's a violation, so there's not much scrutiny about the audits," he said.

The issue, experts say, runs deeper, to a conflict between selling clothes at a cut rate price versus bolstering the rights of workers.

In order to keep production prices low, Nova said that companies rely on cheap labor, which often goes hand-in-hand with low wages, poor working conditions and safety concerns.

"On one hand, brands are telling factories to improve conditions, but on the other hand they're telling them they need lower prices," he said. "They have workers at factories making 18 cents an hour to keep prices down, but they recognize that the consequence are egregious situations like this fire."

While retailers contend with competing interests, local governments also play a role in why these issues aren't addressed. According to Charles Kernaghan, director of the Institute for Global Labour and Human Rights, the Bangladesh government is anxious to hang on to the apparel business because it is a huge part of the country's economy.

"It is such a poor country and so desperate for jobs that they ignore the most minimal labor rights standard," he said. "It's as if everything has to give way just to maintain these garment jobs. There's a fear that the labels will flee and go to another country."

Workers rights experts say that the government turns a blind eye to buildings with no fire safety standards, filthy factory conditions and pitiful wages.

Bangladesh's ready-made garments make up 80% of the country's $24 billion in annual exports, and the country has about 4,500 garment factories that make clothes for large global stores including Gap (GPS, Fortune 500), H&M (HNNMY), Wal-Mart, J.C. Penney (JCP, Fortune 500), Tesco (TESO), Carrefour (CRERF) and Sears. The country is on track to surpass China within the next eight years as the largest apparel manufacturer in the world, Kernaghan said, because the cost of labor is so cheap.

Retailers are well aware of the fire hazards in Bangladesh factories. The fast fashion Swedish global clothing export H&M and J.C. Penney were quick to distance themselves from the Tazreen Factory fire, saying it didn't make their clothes.

But they both said in separate statements that they recognize fire safety as a serious issue in Bangladesh apparel factories. J.C. Penney said it joined a coalition of international retailers last year to develop training materials for factories on fire safety standards. And H&M said it is offering an educational film on fire safety awareness, which will reach 4,500 exporting garment factories in Bangladesh, with around 3 million workers by 2013.

First Published: November 30, 2012: 5:26 AM ET

View the original article here

What's my retirement 'number'?

NEW YORK (CNNMoney) -- What number do we need to hit to retire comfortably? $1 million, $2 million, more? -- Jim Rodgers, Madison, Wisc.

Your question is timely: Mutual fund titan Fidelity recently released its estimate of how much people should have in savings to retire. The Number: eight times final salary.

That figure caught my attention because it's a lot lower than most targets you see. Just last month MONEY recommended you shoot for a nest egg of 12 times your income by retirement.

These numbers vary for many reasons, which I'll get into below. But the real issue here is that no single figure can possibly reflect your specific financial circumstances. At best this kind of number is a ballpark estimate for how much you should save, not a substitute for planning. Before you use one as even a rough guide, though, you should know what goes into it.

Fidelity assumes retirement at age 67 and figures your savings must last 25 years. We reckon you'll retire at 65 and want your savings to support you for 30 years. Those two more years on the job, which can boost your Social Security check by 15% to 20%, plus the fact that your savings don't have to last as long, shrinks your target.

Related: Why high-income savers need to put more away now

Another variable is how much you'll draw from your savings. Fidelity aims to provide 85% of your after-tax income, an approximation of what you were actually spending. After estimating how much Social Security will provide, the number crunchers calculate your withdrawals. With a $75,000 salary at retirement, you'd need to take just over $35,000 from your savings the first year.

This methodology seems reasonable to me, but then things get tricky. Pulling $35,000 from a $600,000 portfolio ($75,000 times eight) represents a withdrawal rate of almost 6%. To have a reasonable chance of your savings lasting 25 to 30 years, most advisers suggest something closer to 4%.

When I asked Fidelity senior vice president Steve Feinschreiber for the probability that a portfolio would last 25 years starting with a near-6% withdrawal rate, he estimated it "very roughly" at 70%. A Morningstar retirement-income calculator put the likelihood at about 50%.

Related: Can I afford to retire early?

Finally, the higher your income, the less of your salary Social Security will replace and the more you'll have to withdraw. In fact, Fidelity concedes that with a six-figure income your target might have to be higher than eight.

To be safe, I'd recommend you shoot to save 10 to 12 times your salary. Better yet, use an online tool like Fidelity's own Retirement Income Planner or T. Rowe Price's Retirement Income Calculator to get an estimate of your retirement readiness.

Look at The Number if you want. Just don't pin your fortunes on any single one.

First Published: November 30, 2012: 12:28 PM ET

View the original article here

Super-talented employee driving you crazy? How to deal.

FORTUNE -- Dear Annie: I've never seen this problem addressed in your column, but I can't be the only one struggling with it. About six months ago, I got this great new job leading a team of 18 software developers and designers, and everything's going great, with one exception. One of our most talented people is also the most difficult and unpredictable. He has terrific ideas and often comes up with elegant solutions to challenges that have other people tearing their hair out. He's also the brain behind two of our biggest hit products.

However, he's not at all interested in project deadlines, he's dismissive of other people's ideas, and he's so absorbed in his own work that he misses a lot of meetings, so he's never quite up to speed with the details of what's going on. I want to keep him here (he's already changed jobs four times in eight years, and I know for a fact he gets other offers all the time), but his prima donna act is bad for the whole team. How can I get him to play well with others? — Baffled Boss

Dear Baffled: Ah. Sounds like a textbook example of what executive coach Katherine Graham Leviss calls a high-maintenance high-performance (or HMHP) employee. "These people tend to be visionary, big-picture thinkers. They're independent producers, and they're very driven, but they're not process-oriented. They're focused on results," she says. "Once they have a mental image of the outcome they want, they go after it without regard to how what they're doing affects teammates."

Leviss runs XB Insight, a coaching firm that specializes in taming HMHPs for Fortune 500 companies and the National Football League, and she wrote a book you might want to check out called High-Maintenance Employees: Why Your Best People Will Also Be Your Most Difficult…and What to Do About It.

MORE: Fortune's Blue-Ribbon Companies

"HMHPs are tremendously valuable if properly managed," Leviss says. "And luckily, they're highly coachable. One thing this personality type can't stand is feeling out of control. So once you create an awareness of the problems an HMHP's behavior is causing, he or she is likely to feel a sense of urgency about getting back on top."

How do you do that?

1. Set up consistent processes and guidelines. "If there's no process in place, HMHPs will create their own," says Leviss -- and that can lead to chaos. But don't let an HMHP determine what the process is going to be, even though he or she will probably try. Instead, assign designing the structure of a project, including deadlines, to "more methodical, step-by-step team members who are good at that."

2. Assign them tasks they can "own." This is largely a matter of turning an HMHP's outsized ego to your, and the rest of the team's, advantage. Since these are people who want to put their own stamp on their work -- and since "they're usually highly technically proficient," Leviss notes -- put them in charge of the part of each project where they can shine the brightest.

To bring out an HMHP's best performance, Leviss says, make it about him. "Instead of saying, 'The team has to get to X result by such-and-such a date,' focus on his part of it: 'In order for the team to get to X, you have to produce Y.'" Then stand back. "It's usually pointless to tell an HMHP how to get there," says Leviss. "He or she will just try to find a better way, and they usually can."

3. Make your expectations clear. Sit down with your HMHP for a frank discussion of exactly what isn't working, and don't hesitate to be blunt about it. "You don't need to 'sandwich' your remarks with praise, as you might with other employees, because HMHPs already know they're extremely talented," Graham Leviss says. "So get right to the point: 'Here's how what you're doing -- skipping team meetings, for instance -- affects everybody else, and here's what I need you to start doing instead.'

MORE: How HP's Meg Whitman is passing the buck

"We do this kind of coaching with NFL athletes," she adds. "It takes a little while for new habits to form, but hold people accountable and remind them of the changes you've said you want to see."

4. Provide as many learning opportunities as you can. High-performance employees get bored more easily than others (which helps explain why they tend to change jobs so often). They also "like to feel that they're on top of the latest, newest, hottest" trends in their field, Leviss notes. So be on the lookout for cutting-edge training, interesting conferences, and other learning experiences you can offer your HMHP. Whatever the cost, it's lower than the price of replacing him.

5. Keep the challenges coming. Leviss, a self-confessed HMHP, writes in her book that, having changed jobs six times by age 30, she had an epiphany: "I loved my job when I was working on new projects or new problems…. It was the thrill of something new that kept me going…. Most high-maintenance employees are unhappy when a project is over and they don't have another one in sight."

This eventually motivated her to start her own company, but you probably don't want your HMHP to do that in this case -- so make sure he never runs out of fresh puzzles to solve. A definite upside of having HMHPs around: One of their defining characteristics is that they don't know the meaning of the word "overwork."

Good luck.

Talkback: Have you ever worked with, or tried to manage, an HMHP? Do you think you are one? Leave a comment below.

View the original article here

Zucker to head CNN

NEW YORK (CNNMoney) -- Former NBC Universal executive Jeff Zucker was tapped Thursday as the president of CNN Worldwide.

Zucker will succeed Jim Walton, the current president of CNN, in January. Walton took the reins at CNN in 2003 after getting his start with the company in 1981 as a video journalist, the network's entry level position for editorial staffers.

Walton announced in July that he was stepping aside, saying the network needed "a new leader who brings a different perspective, different experiences and a new plan."

Zucker was frequently mentioned as a leading candidate for the CNN job. The parent company of CNN, Time Warner (TWX, Fortune 500) controls a much wider programming and media portfolio including HBO and Cartoon Network.

"Jeff's experience as a news executive is unmatched for its breadth and success," said Phil Kent, president of Turner Broadcasting, the Time Warner unit which includes CNN. "He built and sustained the number-one brand in morning news, and under his watch NBC's signature news programming set a standard for quality and professionalism. As a programmer, a brand-builder and a leader, he will bring energy and new thinking to CNN. I couldn't be happier to welcome him or more excited about what he'll accomplish here."

Zucker will be based in New York and report to Kent.

The financial terms of Zucker's contract were not made public. The New York Times first reported late Tuesday that the hiring was imminent.

Zucker started his career at NBC and enjoyed a meteoric rise through the network's ranks. The Harvard graduate was named executive producer of "The Today Show" at 26 in 1992, helping to orchestrate one of the biggest ratings juggernauts in television. He later added the "NBC Nightly News with Tom Brokaw" to his portfolio.

After his tenure in the company's news division, Zucker jumped to the programming side of the business, and was named president of NBC Entertainment in 2000. He was then promoted to president of the NBC Universal Television Group and later tapped as CEO of the same division, which produced a bulk of the company's revenue.

Zucker's time at NBC was not without controversy. He moved the popular Jay Leno out of the network's late night lineup in 2010, which resulted in a sharp ratings drop and a revolt from affiliate stations. NBC was forced to reverse course.

NBC Universal parted ways with Zucker after Comcast (CMCSA) acquired the network in a blockbuster merger. He is currently the executive producer of Katie Couric's daytime talk show.

In CNN, Zucker inherits a cable network battered by ratings losses and a changing media landscape.

The network's ratings have declined precipitously in recent years, especially during the key money-making primetime hours. Meanwhile, rival News Corp (NWS).'s Fox has solidified its position with several top-rated evening shows. MSNBC, a Comcast unit that has long been a ratings laggard, has attracted new viewers by billing itself as the liberal answer to right-leaning Fox.

In the face of this changing landscape, CNN has stayed with a non-partisan programming strategy. Network executives have tried to boost ratings, hiring Piers Morgan to replace Larry King and bringing business reporter Erin Burnett over from CNBC. The primetime lineup was also shuffled, with top talent Anderson Cooper moving to the cornerstone 8 p.m. hour.

In spite of its challenges, CNN is on pace for its most profitable year ever, buoyed by lucrative contracts with affiliates and other revenue streams.

-- CNNMoney's Mark Thompson contributed reporting from London.

First Published: November 29, 2012: 10:12 AM ET

View the original article here

Not lucky in Kentucky: Yum plunges nearly 10%

Shares of Yum! Brands fell on concerns about slowing KFC sales in China. But are investors overlooking strength in Taco Bell and Pizza Hut in the United States?

Investing 101: If a stock is priced for perfection, bad news is going to cause a rush for the exits. That definitely was happening with fast food giant Yum! Brands (YUM) on Friday.

Even though the company reaffirmed its outlook for 2013, investors were spooked by an alarming 4% decline in same-store sales in China. Yum has focused heavily on China, particularly through its KFC franchise.

Shares fell nearly 10%. An overreaction? Maybe not. Prior to the company's announcement late Thursday, Yum shares were trading at 20 times 2013 earnings forecasts. That is extremely expensive for a restaurant stock. McDonald's (MCD), by way of comparison, was trading at just 15 times profit estimates for next year.

The sell-off in Yum is a bit reminiscent of the recent slide in rival Chipotle (CMG), which competes with Yum's Taco Bell brand. Chipotle shares plummeted after its latest earnings report due to worries that sales were slowing. Like Yum, Chipotle was trading at a huge premium to Mickey D's and many other restaurant stocks.

But traders on StockTwits are more nervous about the Yum news because growth in China is critical to the company's continued success.

tradefast: $YUM getting smacked - company sees 'shocking' deteriation in China (china is 45% of Ebit)

Vconomics: $YUM says Q4 sales in China will decline 4%. The last time $YUM reported a decline in China same-restaurant sales was in Q4 of 2009. 

#Wow" href="http://twitter.com/search?q=%23Wow" target="_blank" rel="nofollow">#Wow

This is obviously not good. Making matters worse for Yum is the fact that China's woes may not be confined to just one quarter. There are growing concerns about the health of China's economy .. as one trader sarcastically points out.

fundmyfund: $YUM slashes forecast, and Chinese stock market at multi year lows but no worries, Wall St strategists say soft landing

Investors have to hope that China does avoid a hard landing. That's because the rest of the world is not looking too pretty either.

HowardWPenney: Are global restaurant companies a proxy for the global economy? $YUM negative SRS in China and $MCD in the USA and Germany! 

#GrowthSlowing" href="http://twitter.com/search?q=%23GrowthSlowing" target="_blank" rel="nofollow">#GrowthSlowing

Still, some traders think that investors shouldn't panic. After all, China is just one part of the Yum story. Other franchises continue to do well. And Yum also pays a solid dividend.

TraceyRyniec: Taco Bell sales MUST be awesome this qtr for $YUM to keep its guidance. The Dorito Locos is saving the company.

Orthokneepa: $YUM Just bought for IRA. Tucking this away for a while. 2% div and China growth isnt going away. Zoom out more then 2 minutes here folks

That is a nice reality check there. Yum is still a solid company. But as I suggested before, shares may have been a little too pricey heading into its earnings report. The pullback may make the stock as appetizing as Top Chef Masters' Lorena Garcia's new Cantina Bell menu! ("Lose the tortilla!")

Finally, it's time for the Reader Comment of the Week. As a diehard Yankees and Giants fan, it pains me to praise a guy from Boston. But Chrisitan Koulichkov, aka BostonBroker33 on Twitter, wins his unprecedented third RCOTW award of 2012 for this gem about the recent rally in Research in Motion (RIMM) in response to Thursday's zombies of tech column.

@LaMonicaBuzz the froth on $RIMM has my stock cup filled to the brimm.—
Christian Koulichkov (@BostonBroker33) November 29, 2012

Brilliant. This child of the 80s loved the reference ... even though the thought of decaf coffee makes this java snob cringe. Speaking of cringing, watch this hilarious Brim commercial.

View the original article here

New Balance stays on track in Cumbria

23 November 2012 Last updated at 00:00 GMT By Ian Reeve BBC North East Business Correspondent, Flimby, Cumbria The small union jack makes New Balance trainers desirable in East Asia, says the firm Margaret Thompson is busy attaching tiny sewn union jacks to the thousands of trainers that come off the production line at New Balance's Cumbrian factory in Flimby.

She's worked here for 30 years and, on the verge of retirement, finds it incredible that her employer is the last survivor of the once-flourishing shoe industry in the west of the county.

"This factory's very important because there's not much work at all now," she says.

"The industry's gone. We used to have Bata at Maryport, Millers at Cockermouth, K Shoes at Workington. They've all gone."

So what explains the continued presence of New Balance in Cumbria - turning out nearly 1.5 million pairs of running shoes and fashionable trainers a year?

And how can it afford to be the last remaining sports company to manufacture its own footwear? All of its rivals have outsourced production to cheaper factories, mainly in the Far East.

A clue as to why New Balance has clocked up 30 years in Cumbria lies, at least partially, with that union jack.

"We currently export to 58 countries," says business development manager Liam Burns.

"And there really is a cachet, particularly in the Far East, to buying footwear made in the UK."

'Absolutely committed'

So prestige becomes the selling point and wins out over price. Cachet over cost. But there's another reason that the Cumbrian factory is still in business.

New Balance is privately-owned in the US by chief executive and chairman Jim Davis, who is something of a philanthropist and champion of manufacturing. The company has six factories in its home country.

New Balance may expand its production in Cumbria if demand continues to increase

"New Balance's owner is absolutely committed to domestic manufacturing," says Mr Burns.

"He cares passionately about our workforce here, as well as in the US, and that commitment was shown by Jim Davis flying in from Boston to celebrate our 30th anniversary in Cumbria."

That's not to say that New Balance doesn't use sub-contracted factories itself.

Production can be found in China and Vietnam.

The company says that's explained by high demand for its shoes, a demand that can't be fulfilled by domestic manufacture alone.

Order book

And demand has been soaring.

In 1994, New Balance made 70% of its shoes in the US. Today it's thought that more than 75% of its shoes are made overseas, specifically in Asia.

New Balance has six factories in the US

But, the company insists, the move doesn't have any implication for its existing factories, or for the 240 workers in Cumbria who might see those figures as being indicative of a lessening of a commitment to making shoes in the county.

"We don't see that," says Liam Burns.

"Our order book is full. We are currently recruiting people to make sure we are geared up to meet the increasing demand for New Balance footwear. Our sales are growing at a considerable rate, internationally."

Indeed, the company is tentatively eyeing up expansion. It has bought a plot of land currently being grazed by sheep, but next to the existing factory, and hard by the Cumbrian coast line.

It could be the site of a new factory, creating new jobs. Something that would be welcomed in the area, where 3,500 people are without a job.

'Booming'

The development's not imminent, though. It's for when the current factory ups production.

Andrew Renwick is proud of the Flimby's factory's reputation

Two, then possibly three, million pairs of trainers produced every year are the aspirations in Flimby.

And according to those on the shop floor there is the appetite in this part of Cumbria to become even bigger.

Andrew Renwick, who has worked in the factory for more than two years, is currently ensuring the finished trainers are blemish-free but has ambitions to become a team leader, and can see why the business might expand.

"The factory has a good reputation. People request New Balance made in England, which is fantastic because that's us," he says.

"As long as our factory is booming and we're doing a good job things will be alright."

View the original article here

New Balance stays on track in Cumbria

23 November 2012 Last updated at 00:00 GMT By Ian Reeve BBC North East Business Correspondent, Flimby, Cumbria The small union jack makes New Balance trainers desirable in East Asia, says the firm Margaret Thompson is busy attaching tiny sewn union jacks to the thousands of trainers that come off the production line at New Balance's Cumbrian factory in Flimby.

She's worked here for 30 years and, on the verge of retirement, finds it incredible that her employer is the last survivor of the once-flourishing shoe industry in the west of the county.

"This factory's very important because there's not much work at all now," she says.

"The industry's gone. We used to have Bata at Maryport, Millers at Cockermouth, K Shoes at Workington. They've all gone."

So what explains the continued presence of New Balance in Cumbria - turning out nearly 1.5 million pairs of running shoes and fashionable trainers a year?

And how can it afford to be the last remaining sports company to manufacture its own footwear? All of its rivals have outsourced production to cheaper factories, mainly in the Far East.

A clue as to why New Balance has clocked up 30 years in Cumbria lies, at least partially, with that union jack.

"We currently export to 58 countries," says business development manager Liam Burns.

"And there really is a cachet, particularly in the Far East, to buying footwear made in the UK."

'Absolutely committed'

So prestige becomes the selling point and wins out over price. Cachet over cost. But there's another reason that the Cumbrian factory is still in business.

New Balance is privately-owned in the US by chief executive and chairman Jim Davis, who is something of a philanthropist and champion of manufacturing. The company has six factories in its home country.

New Balance may expand its production in Cumbria if demand continues to increase

"New Balance's owner is absolutely committed to domestic manufacturing," says Mr Burns.

"He cares passionately about our workforce here, as well as in the US, and that commitment was shown by Jim Davis flying in from Boston to celebrate our 30th anniversary in Cumbria."

That's not to say that New Balance doesn't use sub-contracted factories itself.

Production can be found in China and Vietnam.

The company says that's explained by high demand for its shoes, a demand that can't be fulfilled by domestic manufacture alone.

Order book

And demand has been soaring.

In 1994, New Balance made 70% of its shoes in the US. Today it's thought that more than 75% of its shoes are made overseas, specifically in Asia.

New Balance has six factories in the US

But, the company insists, the move doesn't have any implication for its existing factories, or for the 240 workers in Cumbria who might see those figures as being indicative of a lessening of a commitment to making shoes in the county.

"We don't see that," says Liam Burns.

"Our order book is full. We are currently recruiting people to make sure we are geared up to meet the increasing demand for New Balance footwear. Our sales are growing at a considerable rate, internationally."

Indeed, the company is tentatively eyeing up expansion. It has bought a plot of land currently being grazed by sheep, but next to the existing factory, and hard by the Cumbrian coast line.

It could be the site of a new factory, creating new jobs. Something that would be welcomed in the area, where 3,500 people are without a job.

'Booming'

The development's not imminent, though. It's for when the current factory ups production.

Andrew Renwick is proud of the Flimby's factory's reputation

Two, then possibly three, million pairs of trainers produced every year are the aspirations in Flimby.

And according to those on the shop floor there is the appetite in this part of Cumbria to become even bigger.

Andrew Renwick, who has worked in the factory for more than two years, is currently ensuring the finished trainers are blemish-free but has ambitions to become a team leader, and can see why the business might expand.

"The factory has a good reputation. People request New Balance made in England, which is fantastic because that's us," he says.

"As long as our factory is booming and we're doing a good job things will be alright."

View the original article here

New EU bailout fund legal - court

27 November 2012 Last updated at 10:03 GMT The ESM will function as a lending agency - not simply transferring euros from richer states The EU's top court has ruled that the eurozone's new permanent bailout fund, the European Stability Mechanism (ESM), is in line with EU law.

The European Court of Justice in Luxembourg had examined a case lodged by an Irish MP, Thomas Pringle. He said the ESM altered the EU's powers.

The ESM was launched in October as a permanent agency, based in Luxembourg.

From 2014 it will have up to 500bn euros (£405bn; $650bn) to help countries in difficulty.

The rescue fund is available to the 17 eurozone countries - but loans will only be granted under strict conditions, demanding that countries in trouble undertake budget reforms.

Mr Pringle complained to the Irish courts, saying the ESM agreement should trigger an Irish referendum because, in his view, it transferred significant powers to the European Union.

The ESM was incorporated into the Treaty on the Functioning of the European Union (TFEU), through a new provision.

The Luxembourg judges said their examination had "disclosed nothing capable of affecting the validity of Decision 2011/199" - the government decision that launched the ESM.

The EU's founding treaty - the Treaty on European Union - and the TFEU "do not preclude the conclusion and ratification of the ESM Treaty", the judges said.

The new treaty provision allowing for the ESM was adopted by a simplified procedure, agreed by the EU government leaders.

If the member states want to change the EU's powers the corresponding treaty change normally has to be agreed at a convention, involving not only the governments but also national parliaments, the European Parliament and European Commission.

In the Pringle case the ECJ said the ESM decision "applies only to the internal policies and actions of the EU and may not increase the competences conferred on the EU in the treaties". So they said the simplified procedure was acceptable in this case.

Ireland was granted an EU bailout worth 85bn euros in 2010, to rescue its heavily indebted banks. The package included a £3.2bn loan from the UK.

View the original article here

New fast train arrives in Nairobi

13 November 2012 Last updated at 15:43 GMT The new station and train service from Syokimau to central Nairobi

A new commuter train has been launched in Kenya's capital, Nairobi - the first of its kind since independence in 1963.

The train will run between the city centre and the suburb of Syokimau, where Kenya has built its first railway station in more than 80 years.

The service is intended to ease traffic congestion in Nairobi, one of the fastest-growing African cities with a population of about three million.

President Mwai Kibaki was the first commuter on the new train.

He travelled back to Nairobi along with his officials, while ordinary passengers were banned for security reasons.

The first paying customers are expected to take the return trip to Syokimau.

The BBC's Wanyama Chebusiri in Nairobi says the new service will be much faster then the existing dilapidated trains and will run on a separate track.

'New eight-lane highway'

The 16.5-km (10-mile) ride from Syokimau, in the east, to Nairobi is expected to take 15 minutes, while a car journey during rush-hour could take up to two hours, our reporter says.

The new station at Syokimau is modern - it will issue passengers with electronic tickets to swipe at turnstiles and there are also large screens to give train times, he adds.

The journey is the cheapest way of getting to central Nairobi, costing about $2.50 (£1.50).

Mr Kibaki has inaugurated the service, and is expected to be the first passenger to take the ride.

The launch is part of the government's ambitious Vision 2030 initiative to improve much-neglected infrastructure over the next 18 years, our reporter says.

A Chinese company has just built Kenya's first eight-lane highway, linking Nairobi to the densely populated industrial town of Thika, about 40 km away.

It was built at a cost of about 28bn shillings ($330m; £200m).

Although the highway has not been officially launched, motorists are already using it.

The government says its next rail project will be to link Nairobi's city centre to the eastern residential area of Kayole.

View the original article here

Next Media in $600m Taiwan sale

28 November 2012 Last updated at 09:51 GMT There have been protests against the Next Media deal in Taiwan Hong Kong-based Next Media has agreed to sell its Taiwan print and television units to two local consortia for 17.5bn Taiwanese dollars ($600m; £375m).

There have been protests against the deal in Taiwan amid concerns it may hurt the independence of the media.

The fears have been stoked by the involvement of Want Want China Times Group, Taiwan's biggest media firm, in one of the consortia.

If the deal goes through Want Want will own nearly 50% of Taiwan's news media.

The deal still requires approval by Taiwanese authorities.

China fears

There have also been concerns over the influence China may have on the news media once the deal is completed.

Continue reading the main story Cindy Sui BBC News, Taipei

Taiwan is considered to have one of the freest and most competitive media markets in the world. There are more than a dozen major newspapers, around 100 cable TV channels and thousands of magazines.

One of the reasons the sale of Next Media is causing concern is because it stands out in the crowd. Although sometimes criticised for being sensationalist, its owner Jimmy Lai does not have any particular party affiliation. He has said he simply wants his journalists to pursue stories people want to read.

The company is also respected for muckraking journalism. Its magazine Next Magazine routinely uncovers scandals by local politicians, including corruption involving the former cabinet secretary general, who was later forced to resign.

These have in part arisen from Want Want China Times Group's business interests in the mainland.

The group is owned by Want Want Holdings Limited, chaired by Tsai Eng-meng, one of the largest snack food makers in China.

Mr Tsai is also known for his pro-China views.

Opponents of the deal say that if it does go through, Beijing may start to play a role in editorial decisions.

"China is having more and more control over Taiwan's politics and economy," Chen Siao-yi, head of the Taiwan Reporters Association, was quoted as saying by the Associated Press news agency.

"Now they want public opinion too, because it is the missing piece of their puzzle."

China does not recognise Taiwan, regarding the island as a breakaway province and wants unification.

View the original article here

Nokia seeks Blackberry sales bans

28 November 2012 Last updated at 20:30 GMT Blackberry devices could be forced off shop shelves if it does not agree to pay licence fees Nokia has asked courts in the US, UK and Canada to block sales of rival Blackberry smartphones.

It follows a patent dispute between the Finnish company and Blackberry's parent, Research In Motion (RIM).

Nokia says an earlier ruling means RIM is not allowed to produce devices that offer a common type of wi-fi connectivity until it agrees to pay licence fees.

RIM said it would respond to Nokia "in due course".

"Research In Motion has worked hard to develop its leading-edge Blackberry technology and has built an industry-leading intellectual property portfolio of its own," it said in a statement - a possible signal that it might counter sue.

The clash is the latest in a series of legal distractions for the Canadian company at a time it is preparing to launch an operating system that could determine its survival.

Share drop

Nokia's action comes two months after an arbitration ruling by the Stockholm Chamber of Commerce in Sweden.

The organisation had been asked to act as an arbitrator in a dispute over RIM's use of handsets and tablets featuring wireless active network (WLAN) connections to the internet. All of RIM's current products use it.

Nokia says more than 40 companies license its mobile-phone patents

RIM had argued that an earlier licensing deal with Nokia meant it should not have to pay a separate fee for the technologies. However, the tribunal disagreed.

After news of Nokia's latest action was revealed by Computerworld magazine, RIM's shares fell more than 10% in after-hours trading in New York.

When contacted by the BBC, Nokia confirmed it had taken action "with the aim of ending RIM's breach of contract", adding it would also continue to pursue a separate case against RIM in Germany involving antenna, email and navigation technologies.

Nokia noted it had licensed its intellectual property rights to more than 40 other companies. The revenue from such deals helps justify its current $11.8bn (£7.4bn) market valuation.

Patent wars

RIM is also fighting several other patent lawsuits at this time.

They include a dispute with Washington-based patent portfolio owner SoftVault Systems, which alleges RIM has infringed its anti-piracy DRM (digital rights management) technologies.

RIM is also involved in a case against California-based Lochner, which is suing a number of big-name tech firms over the way their devices play videos streamed over the internet.

RIM chief executive Thorsten Heins talks through the Blackberry 10 system

RIM has itself sued others in the past over patents, including Motorola - before the handset division was bought by Google - and the instant message software Kik,

However, the timing of the clash with a big-player like Nokia could be particularly troubling as it comes less than three months before RIM plans to release its first Blackberry 10 handsets.

"RIM has had a tough time losing market segment to other smartphones. And the future of the business is now going to be based on the success of its new operating system, which itself has been delayed," said UK-based patent attorney Andrew Alton, from Urquhart-Dykes & Lord, who has previously acted for Apple.

"Anything else that diverts attention from getting that out there and products shipped and bought is going to be detrimental for the business."

View the original article here

Olam refutes insolvency claims

28 November 2012 Last updated at 07:19 GMT Olam chief Sunny Verghese has said Muddy Waters' allegations were "meant to create panic" Singapore-based commodities firm Olam International has fought back in its escalating battle with US research company Muddy Waters.

Olam said it is not at risk of collapse and had enough liquidity to pursue its business and future investments.

Muddy Waters has questioned Olam's accounting practices and acquisitions, comparing it to collapsed firm Enron.

Olam says Muddy Waters wants to create "panic" among shareholders and profit from a drop in its share price.

Muddy Waters, founded by well-known short-seller Carson Block, first made allegations about what it saw as irregularities at Olam last week, adding that it was shorting the company's stock.

Short-selling is when investors identify assets that they believe are overvalued. They then borrow shares in that company, sell them and hope to buy them back at a cheaper price, keeping the profit.

On Wednesday, Olam continued its fightback against Muddy Waters after the US researcher published its long-anticipated report into the firm the previous day.

"Olam faces no risk of insolvency. We have proactively planned for an appropriate capital structure and raised the requisite equity and debt to meet our investment plans," it said in a posting to the Singapore stock exchange.

It added that accounting practices called into question by Muddy Waters were in line with Singapore standards.

Olam reiterated its stance on Wednesday that the report was aimed at creating investor panic and enabling "Carson Block and his associates to benefit from their short positions in Olam securities, a strategy of shouting fire in a crowded room".

Olam shares fell 6% on Tuesday, and were down 0.6% on Wednesday.

Olam, which is 16% owned by state-owned investor Temasek, has filed a libel suit in the Singapore Supreme Court.

View the original article here

Patience needed to profit online in India

27 November 2012 Last updated at 00:02 GMT By Shilpa Kannan BBC News, Delhi Fashion is playing a key role in driving India's e-commerce growth

As the lights come on, models pose and the cameras click away.

Tunics, shoes and jewellery - are all being snapped.

Photos are uploaded within minutes; to be seen by millions of online customers across the country.

This is the new world of e-commerce in India.

Jabong is one of the latest companies to enter the market.

Selling more than 50,000 products from shoes to cutlery online, the company says the Indian market is promising - especially in small towns, where more than half of all online sales comes from.

Arun Chandramohan is one of company's founders and chief executive.

He says India is "structurally more attractive because we have a large youth population, growing aspiration, a large country where we don't have very high penetration of malls".

Fast catching up

Increasingly Indian shoppers have discovered buying items with just a click of a button, including through their mobile phones too. Travel booking websites are the most popular choice.

The Indian railways ticket site is used by almost one in five of the country's web users, according to research company Comscore.

But retail websites are fast catching up as more young people begin to buy their clothes and shoes online.

While there are only about 10 million active online shoppers right now, the industry estimates that there are over a hundred million consumers ready to spend their money over the web.

But getting to those consumers is not easy - India faces serious issues with poor infrastructure and logistics.

Most companies, like Jabong, follow a model where they buy products, pile them high in their warehouses and hope consumers will buy it from them.

But this approach adds the costs of warehousing, inventory and logistics.

Some others follow the marketplace model.

This is when a company displays products from various vendors on their website and orders a product only after a consumer buys it online.

But it means shipping and delivery may take longer.

Ignoring profits

The sustainability of both business models is a critical issue, warns K Vaitheeswaran, the boss of Indiaplaza - the country's first e-commerce site.

"So far all the investors who have come and heavily invested in new e-commerce companies have asked for sales and top-line growth," he says.

"But they ignored profits. Suddenly they are beginning to realise that they may not get good returns on their money."

He says his company has survived this long because they have kept operating costs low.

When the company was first set up in 1999, less than three million people used the internet in India, and only about 20,000 people actually shopped online.

Now, the country is among the top three fastest growing internet markets in the world - last year, internet use surged by 41%.

Indiaplaza was India's first e-commerce site

The potential to grow further is huge.

According to Rajan Anandan, managing director of Google India, of the 137 million internet users in India, only about 25 million are involved in online transactions.

In comparison, China has already got more than 180 million people transacting online.

While the number of people getting online is increasing, getting them to spend their money is still difficult.

Companies say the cost of acquisition of customers is quite high.

To attract new customers, firms have to spend money on advertising and offer discount coupons or have flash sales.

Some industry estimates suggest that firms are spending between $15-$50 (£9.30-£31.20) in getting each customer.

So the country's $10bn market is driven mainly by companies offering big discounts and free deliveries.

The other big problem facing companies is that very few Indians own credit cards.

So most firms have an option where customers can pay cash on delivery - adding significantly to their costs.

Funds crunch

But while the costs are daunting, it hasn't stopped companies from entering the market.

Amazon's Indian venture, Junglee.com, doesn't sell products directly but aggregates information from different e-commerce sites.

Ebay India, which started in 2005, clocks six transactions per minute, according to the Internet and Mobile Association of India.

A lack of credit cards in the country means products are often paid for with cash on delivery

In comparison, India's largest e-commerce company, Flipkart sells 20 items per minute.

E-commerce accounted for the maximum chunk of private equity and venture capital deals in 2011 according to a study by advisory firm, Zinnov.

They reported that the sector has grown 800% since 2008.

Another firm, Technopak, predicts the ecommerce market to hit $70 billion by 2020.

But the worry is that none of the companies are making a profit yet.

And there are signs of a funds crunch.

Venture capitalists are becoming more wary as barely any e-commerce firms so far have made any profit.

Winners and losers

Already some consolidation is taking place.

Sunjay Guleria is co-founder of Sher Singh and Exclusively, sites which target Indian expats. He recently sold his company to another retailer, Myntra.

He agrees that capital has tightened up considerably.

"There will be winners and there will be losers.

"India itself - the landscape is very small in terms of the conversion rates. So there will be people who just don't make it.

"It'll be the bigger guys who have achieved scale that are doing millions of dollars a month in transactions that will break away from the path."

With organised retail accounting for less than 5% of the market, ecommerce is leap-frogging across the country especially in towns that lack supermarkets or shopping malls.

As incomes improve, and more young people get online to buy, the brands they aspire to own is increasingly just a click away.

Promising news for the companies that have dived in - but making big profits may take longer than they originally hoped.

View the original article here

One in 10 workers underemployed

28 November 2012 Last updated at 13:21 GMT Penny Cook has asked her part-time employer for more hours but has been refused

One in 10 of all workers in the UK is now officially underemployed, according to a study from the Office For National Statistics (ONS).

It says 3.05 million workers want to work more hours each week, out of a total workforce of 29.41 million.

The number of workers in this position has shot up by 980,000 in the four years since the start of the economic recession in 2008.

Most of the underemployment is concentrated among part-time workers.

The main reason for the growth of underemployment has been the economic downturn of the past few years.

"During this period many workers moved from full-time to part-time roles and many of those returning to work after a period of unemployment could only find part-time jobs," the statistical office said.

"Of the extra one million underemployed workers in 2012 compared with 2008, three-quarters were in part-time posts."

The ONS said 1.9 million of the underemployed were in part-time jobs and this meant, in turn, that 24% of all part-timers wanted more work.

By contrast, only 5.5% of full-time staff said they wanted to work more hours.

Each quarter, as part of its Labour Force Survey (LFS), the ONS asks respondents a series of questions about their willingness and ability to work more hours.

Someone is counted as underemployed if they are working fewer hours than they would like.

Continue reading the main story The growth of underemployment has gone alongside a big fall in the real value of earnings, the ONS said, which have been outstripped by inflation in recent years.

Jane Tomlinson, a part-time worker from Oxford, told the BBC what it had been like to be underemployed for the past year.

"I work only 15 hours a week paid work for a charity as communications manager," she said.

"I don't actually want a full-time job, but I need more than 15 hours a week, so I pick up a bit of copywriting work here and there as I can find it.

"But month to month it's really tough as I make only just enough to pay the bills. Thank goodness my husband has a job," she added.

'Half-time salaries'

Caroline Parre, an academic from Birmingham, said for the past three years the recession had prevented her hours being extended.

Continue reading the main story

With part-timers we can contract and expand our workforce relative to increases and decreases in orders received,”

End Quote Colin Johnson An employer from Lincoln "Recruited to set up a research centre, the expectation had always been the part-time job would convert into full-time employment. The recession has changed that hope," she said.

"There is danger in the situation: to enable the success of the venture I have, voluntarily, worked full-time hours on a part-time salary, in the hope and belief that efforts would be rewarded.

"Efforts, of course, are not rewarded, and employers find themselves in the happy position of paying full time workers half-time salaries," she pointed out.

But a spokeswoman for the Department for Work and Pensions (DWP) said the figures showed that three quarters of all part-time staff appeared to be content.

"Part-time working suits millions of people and gives others the skills and experience to find a different job or take advantage of longer hours when they are available," she said.

"For many people it is an important step to full-time work and coming off benefits."

This was backed up by Colin Johnson, who runs a mail order company in Lincoln and who told the BBC his staff were happy to work part-time.

"All of my employees are technically part-time. Some are working mums who work around schooling," he said.

"With part-timers we can contract and expand our workforce relative to increases and decreases in orders received, and we can dovetail staff to deal with peaks on the phone.

"Prior to this way of working we would have out-sourced, so these are new jobs," he added.

Self-employed

The ONS explained that most of the rise in underemployment took place between 2008 and 2009, when the recession first gripped the UK economy.

ONS statistician Jamie Jenkins: "Underemployment has gone up by one million people since the economic crisis"

Since then it has still been rising, though more slowly then before.

According to the ONS analysis, the problem is worst among the lowest paid, young workers and those in low-skilled jobs, such as labourers, cleaners and catering staff.

The shortage of work has also led to a big rise in the level of underemployment reported by the self-employed.

They are now even more likely to report being underemployed than those who work for others.

However the precise reasons for individuals being underemployed can vary.

The ONS said these reasons could include:

employers only being able to offer a few hours of work each week workers, such as bar staff, being in jobs where they are only required for a few hours a day personal circumstances changing so that someone now wants to work more hours then beforepeople settling for a part-time job as second-best when they would much rather have a full-time one

Labour market economist John Philpott said: "Approaching one in five economically active people are struggling in today's 'no or not enough work' economy.

"Add in the effect of falling real take-home pay for the vast majority of people in work and it becomes clear how much distress is being suffered."

The TUC's general secretary, Brendan Barber, said: "Being underemployed carries a huge pay penalty that puts a real strain on people's finances.

"Long periods of underemployment can cause longer term career damage, which is particularly worrying for the one in five young people currently trapped in it."

View the original article here

Payday loan rates 'to be limited'

28 November 2012 Last updated at 18:09 GMT Many people face ruin because of the interest charged on payday loans, campaigners argue The government is to change the law to allow restrictions to be imposed on the interest rates charged for so-called "payday loans".

Ministers are to amend the Financial Services Bill to give the planned Financial Conduct Authority the power to limit charges.

The news follows concerns over annual interest rates of up to 4,000%.

The government faced a possible House of Lords defeat on an amendment put down by a Labour peer over the issue.

BBC political correspondent Norman Smith said it was being suggested that there should not be a blanket cap on interest rates but the Financial Conduct Authority (FCA) would be able to investigate different loan schemes and then set a limit on the amount of APR charged.

'Usury'

Labour peer Lord Mitchell put down the amendment to the bill, which was also signed by Lord Welby, the incoming Archbishop of Canterbury.

Lord Welby called the most costly loans "usury", saying that curbing them was a "moral" issue.

There are concerns that small loans, intended to be short-term, have become prohibitively expensive, and in some cases ruinous, if not rapidly repaid.

The government has now agreed instead to introduce its own amendment to the bill next Wednesday.

Treasury minister Lord Sassoon told peers: "We need to ensure that the Financial Conduct Authority grasps the nettle when it comes to payday lending and has specific powers to impose a cap on the cost of credit and ensure that the loan cannot be rolled over indefinitely should it decide, having considered the evidence, that this is the right solution."

Sources insist it is not a U-turn and that the Financial Services Bill would already have given the FCA some powers to cap payday loans.

Peers have been told that some loans involve interest rates running into thousands of per cent.

Lord Mitchell told peers:" This is an industry run by cowboys on the fringes of legality."

Reacting to the concession, Lord Mitchell praised the minister's "very welcome statement of intent".

He said: "This issue is now where it should be - beyond party politics."

Lord Mitchell added that the change would help "those who live in the hell-hole of grinding debt. Their lives will become just a little easier.

"The losers are clearly the loan sharks and the payday lending companies. They have tried every trick in the book to keep this legislation from being approved and they have failed. Their failure is our victory."

But an official study in 2010 said payday loans provided a legitimate, useful, service that helped cover a gap in the market.

View the original article here

Philippines reports robust growth

28 November 2012 Last updated at 04:39 GMT Philippines exports saw a sharp recovery in September helping boost growth The Philippines economy grew more than forecast in the third quarter, boosted by increased consumer and government spending and a recovery in exports.

Growth was 7.1% in the July to September quarter, from a year earlier. Analysts had forecast a 5.4% expansion.

Compared with the previous three months, the economy grew 1.3%.

The robust numbers, which come amid a volatile global economy, are likely to ease the pressure on the central bank to cut interest rates further.

"The upside surprise would mean that an interest cut would probably be unnecessary," said Enrico Tanuwidjaja, an economist at Royal Bank of Scotland.

"We have probably already seen the bottom of the rate-cut cycle."

The central bank, Bangko Sentral ng Pilipinas (BSP), has cut interest rates four times this year, in an attempt to sustain growth.

The latest cut, announced last month, saw the bank lower its benchmark rate to a record-low of 3.5% from 3.75%.

Regional star? The Philippines economy has been one of the better performing ones in the region this year.

Its growth has been helped by a strong domestic demand, government spending and increased investment in the country.

At the same time, its exports, which had been under pressure in wake of slowing demand from key markets, recovered sharply in September rising by more than 22% from a year earlier.

Earlier this year, its credit rating was raised to one level below investment grade by ratings agency Standard & Poor's.

Two of the three major international rating agencies now have the Philippines one rung below investment grade which is likely to help it attract more investment, a key to further growth.

Analysts said that given these factors and the robust numbers for the third quarter, the Philippines was likely to beat its target of 6% growth for the current year.

"The Philippines is the diamond of the region this year," said Mr Tanuwidjaja of the Royal Bank of Scotland. "I think the Philippines will beat growth forecasts for this year."

The economy got a further boost as the Philippine National Statistical Coordination Board revised the numbers for the second quarter.

It said economic growth was 1.2% on a quarter-on-quarter basis in the April to June period, up from its earlier figure of 0.2% growth.

The board said the economy grew by 6.5% in the first nine months of the year.

View the original article here

Qantas cuts tourism board ties

28 November 2012 Last updated at 04:02 GMT Goeff Dixon was in charge at the national flag-carrier between 2001 and 2008 Qantas said it has severed ties with Australia's official tourism agency over its chairman's 'conflict of interest'.

Qantas informed the tourism ministry it was suspending a A$50m ($52m; £32m) marketing deal.

Tourism Australia's chairman, Geoff Dixon, who is a former Qantas chief executive, is part of a group of investors reportedly seeking changes at the airline.

The move ends a 40 year partnership.

"This conflict has arisen from the involvement of Tourism Australia's chairman with a syndicate that is actively canvassing fundamental changes to the Qantas Group strategy, including the proposed partnership with Emirates," Qantas said in a statement.

Mr Dixon was in charge at the national carrier between 2001 and 2008, after which the current chief executive Alan Joyce took over.

"Qantas cannot continue to collaborate with an agency whose chairman is a member of a syndicate committed to unravelling Qantas' structure and direction."

However, the airline said this did not mean Qantas would stop supporting the tourism industry in Australia.

"Not one dollar will be removed from tourism marketing as a consequence of this decision.

"Rather than providing this support through the federal agency, Qantas will instead look to do so through the states," it said.

The carrier also said some key initiatives already underway would not be halted.

View the original article here

Rail commuters face 6% fare rise

28 November 2012 Last updated at 11:01 GMT 2013 will be the 10th consecutive year regulated fares have gone up by more than inflation in England Some rail commuters in England will face a rise of almost 6.5% for their season tickets next year.

Fares in England, Scotland and Wales will go up by 4.2% on average. Last month, the PM intervened to limit average rises to 1% above inflation.

The biggest rise in 2013 would be 6.46% to £4,940 for an annual ticket from the Kent stations of Ramsgate, Dover Priory and Deal to London.

Passenger Focus said firms had showed restraint but there would be "pain".

The customer watchdog has highlighted a number of other fare increases itself, including a £272 - 5.9% - rise in the Canterbury to London annual ticket to £4,860 and the Bournemouth to London route - up £240 to £5,988.

Continue reading the main story Canterbury-London: £4,860 (up 5.9%) Llanelli-Swansea: £624 (up 5.4%)Ludlow-Hereford: £1,992 (up 5.3%)Tonbridge-London: £3,796 (up 5.2%)Aylesbury-London: £3,632 (up 3.2%)Ellesmere Port-Chester: £720 (up 2.3%)Shenfield-London: £2,704 (down 0.6%)

Source: Passenger Focus

And an annual ticket from Gloucester to Birmingham will cost an extra £140, it says.

In August, it had been announced that rail fares in England would rise by an average of 6.2%.

Passenger Focus researched the price rises using the Season ticket calculator on the National Rail Enquiries website, which has recently been updated with the new fares.

The Retail Prices Index (RPI) measure of inflation as of July 2012 - which stood at 3.2% - plus 3% was initially used to calculate the average rise.

But last month, David Cameron announced the average rise for the next two years would be capped at RPI plus 1%.

The figure for 2012 is therefore RPI as of July 2012 - 3.2% - plus 1%.

Train firms are able to raise some season tickets above 4.2% as long as the average increase is no more than that ceiling.

Some tickets will rise by as little as 2.3% while one ticket, from Shenfield, in Essex, to London will be £16 cheaper, at £2,704, a 0.6% drop.

'Welcome promise'

Rail Minister Norman Baker said the government had taken "pro-active steps" because family budgets were being squeezed.

Continue reading the main story

Successive governments have instructed train companies every year to increase these regulated fares on average by more than inflation”

End Quote Association of Train Operating Companies "This decision puts an average of £45 per year back into the pockets of over a quarter of a million annual season ticket holders," he said.

Passenger Focus chief executive Anthony Smith said that, "after years of above-inflation fare rises, fresh increases are piling pressure on already high fares".

"The government and the rail industry must now work together to deliver on the welcome promise to get fare rises in line with inflation."

The Association of Train Operating Companies, meanwhile, said it was the government "not train companies that decides how much season tickets should rise on average each year".

"Successive governments have instructed train companies every year to increase these regulated fares on average by more than inflation." a spokesman said.

'Government collusion'

BBC transport correspondent Richard Westcott said 2013 would be the 10th consecutive year that regulated rail fares had gone up by more than inflation in England.

Regulated fares, which include season tickets and off-peak intercity journeys, make up half of all fares.

Consecutive rises had left the country with some of the most expensive trains in Europe, our correspondent said.

Manuel Cortes, leader of the TSSA rail union, said thousands of commuters across south-east England would be "paying more than £5,000 a year for their season tickets because of the government's unfair annual inflation-plus fare rises".

And RMT general secretary Bob Crow said train companies "with the collusion of the government, will be jacking up fares by up to 6% in the new year as they launch a full-frontal assault on passengers in the name of profit".

There are no fare increases currently planned in Northern Ireland after a 3% rise in April.

View the original article here

Russia's Megafon raises $1.7bn

28 November 2012 Last updated at 13:03 GMT Megafon is the second biggest mobile operator in Russia Megafon, the mobile phone operator controlled by Russia's richest man, has raised $1.7bn (£1.1bn) from a share sale in Moscow and London.

Pricing shares at the bottom of its $20-$25 range, the sale values Megafon at $11.1bn.

The listing is the biggest by a Russian company since aluminium producer Rusal raised $2.2bn in Hong Kong in 2010.

Russia's second biggest mobile operator is controlled by Alisher Usmanov, a 30% stakeholder in Arsenal football club.

The shares are listed in London as global depository receipts, which are issued by a bank that holds the shares on behalf of the investor.

'No flurry'

Analysts said the share sale had received a lukewarm reception from investors.

"Megafon is five years late with its [share sale] as the phase of active growth of the Russian telecoms market is already over," said Yevgeny Golosnoy, analyst at brokerage Metropol.

"Global investors are cautious because they need either a very low price or growth potential."

In lunchtime trading in London, Megafon shares were down almost 2%, while towards the end of trading in Moscow they were up about 1.5%.

Mr Usmanov has retained his controlling share, while Nordic telecoms group Teliasonera has reduced its stake from 36% to 29%.

There are 227 million mobile phone subscriptions in Russia, whose population is 144 million. This is because many people own more than one sim card.

At the end of last year, Megafon had 63 million subscribers, up 10% on 2010. It is the second-biggest mobile operator in Russia behind MTS.

View the original article here

VIDEO: UK 'could face austerity until 2018'

26 November 2012 Last updated at 17:23 GMT Help

View the original article here

VIDEO: Wal-Mart suspends India staff

23 November 2012 Last updated at 17:50 GMT Help

View the original article here

Global Markets and Applications for New and High Impact Nanomaterials to 2020

Global Markets and Applications for New And High Impact Nanomaterials to 2020: Carbon Nanotubes, Graphene, Nanocellulose , Silicene, Graphyne, Graphdiyne, Graphane and Molybdenum Disulfide

Nanocellulose, graphene, carbon nanotubes, silicone, graphyne, graphdiyne, grapahane and molybdenum disulfide all possess outstanding properties and represent potentially the most economically viable and lucrative nanomaterials through to 2020. Most are relatively new nanomaterials but are coming onto the market fast and will find widespread applications over the next decade in sectors such as composites, electronics, filtration, medical and life sciences, oil and energy, automotive, aerospace, coatings, military, consumer goods and sensors.
WHAT DOES THE REPORT INCLUDE?
- Industry growth to 2020
- Industry structure
- Historical data
- Market forecastsy
- Key market drivers and restraints
- Commercialization timelines to 2020
- Producer, research centre and application developer profiles

TABLE OF CONTENTS

1  EXECUTIVE SUMMARY  
2  METHODOLOGY     
3  NANOCELLULOSE                      
3.1  INTRODUCTION                        
3.2   PROPERTIES AND TYPES                          
3.3  PRODUCTION METHODS                           
3.4  MARKET STRUCTURE                      
3.5  SUPPLY CHAIN                              
3.6  PATENTS AND PUBLICATIONS                    
3.7  PRODUCTION VOLUMES                   
3.8  MARKETS AND APPLICATIONS     
3.8.1  Composites               
3.8.2  Electronics          
3.8.3  Construction              
3.8.4  Paper and pulp         
3.8.5  Filtration                                   
3.8.6  Medicine and life sciences                     
3.8.7  Paints, films and coatings                    
3.8.8  Rheologial modifiers/Functional additives     
3.8.9  Aerogels                                        
3.8.10  Oil industry        
3.9  PRODUCERS, APPLICATION DEVELOPERS AND RESEARCH GROUP PROFILES

4  GRAPHENE            
4.1  INTRODUCTION          
4.2  PROPERTIES AND TYPES      
4.3  MARKET STRUCTURE       
4.4  SUPPLY CHAIN       
4.5  PATENTS AND PUBLICATIONS     
4.6  PRODUCTION VOLUMES     
4.7  MARKETS AND APPLICATIONS    
4.7.1  Aerospace        
4.7.2  Automotive       
4.7.3  Biomedical       
4.7.4  Coatings and paints        
4.7.5  Communications       
4.7.6  Composites       
4.7.7  Electronics, optoelectronics and data storage
4.7.8  Energy              
4.7.9  Sensors   
4.8  PRODUCERS, APPLICATION DEVELOPERS AND RESEARCH GROUP PROFILES       

5  CARBON NANOTUBES          
5.1  INTRODUCTION                  
5.2  PROPERTIES AND TYPES                 
5.3  MARKET STRUCTURE                  
5.4  SUPPLY CHAIN                             
5.5  PATENTS AND PUBLICATIONS         
5.6  PRODUCTION VOLUMES                  
5.7  MARKETS AND APPLICATIONS      
5.7.1  Aerospace            
5.7.2  Automotive     
5.7.3  Energy                  
5.7.4  Environment and water              
5.7.5  Medical and life sciences                    
5.7.6  Military and defense                      
5.7.7  Composites and plastics           
5.7.8  Electronics       
5.7.9  Sporting & consumer goods         
5.7.10  Telecommunications               
5.7.11  Textiles         
5.8  PRODUCERS, APPLICATION DEVELOPERS AND RESEARCH GROUP PROFILES 185
6  SILICENE                  
6.1  INTRODUCTION   
6.2  PROPERTIES             
6.3  APPLICATIONS                 
6.4  RESEARCH CENTRE PROFILES      

7  GRAPHYNE                           
7.1  INTRODUCTION                
7.2  PROPERTIES                    
7.3  APPLICATIONS               
7.4  RESEARCH CENTRE PROFILES         

8  GRAPHDIYNE                    
8.1  INTRODUCTION                
8.2  PROPERTIES                     
8.3  APPLICATIONS                
8.4  RESEARCH CENTRE PROFILES
9  GRAPHANE                  
9.1  INTRODUCTION                 
9.2  PROPERTIES                     
9.3  APPLICATIONS                       
9.4  RESEARCH CENTRE PROFILES            
10  MOLYBDENUM DISULFIDE                  
10.1  INTRODUCTION                        
10.2  PROPERTIES                           
10.3  APPLICATIONS                                
10.4  RESEARCH CENTRE PROFILES                

11  REFERENCES

LIST OF TABLES & FIGURES

Figure 1: Nanocellulose production volumes tons per year, all types, forecast to 2020 (Conservative estimate)
Figure 2: Nanocellulose production volumes tons per year, all types, forecast to 2017 (Optimistic estimate)
Figure 3: Production of nanocellulose by type, 2012
Figure 4: Demand for nanocellulose by end user market, 2012
Figure 5: Demand for nanocellulose by end user market, 2017
Table 1: Market summary for nanocellulose
Table 2: Commercialization timeline for nanocellulose
Table 3: Main applications by nanocellulose, by type
Table 4: Properties of cellulose nanofibrils relative to metallic and polymeric materials
Table 5: Nanocellulose properties and applications thereof
Table 6: Nanocellulose types
Figure 6: The main steps involved in the preparation of cellulose nanoparticles
Table 7: Nanocellulose nanocrystal sources and scale
Table 8: Market summary for nanocellulose
Table 9: Supply chain for the nanocellulose market
Figure 7: Nanocellulose patents/patent applications, 1997-2011
Figure 8: Patent applications for nanocellulose, by market, 2011
Figure 9: Research publications on nanocellulose materials and composites, 1996-2011
Figure 10: Research publications on nanocellulose materials and composites, 2000-2011 by country
Table 10: Specialty Cellulose Pulp Capacity
Table 11: Nanocellulose producers and production capacity (Current and projected)
Figure 11: Nanocellulose production volumes tons per year, all types, forecast to 2020 (Conservative estimate)
Figure 12: Nanocellulose production volumes tons per year, all types, forecast to 2020 (Optimistic estimate)
Table 12: Estimates for composites markets impacted by nanocellulose
Table 13: Polymer properties
Table 14: Nanocellulose in composites: Market drivers and applications
Table 15: Commercialization timeline for nanocellulose in the composites market, 2010-2020
Table 16: Estimates for electronics markets impacted by nanocellulose
Table 17: Nanocellulose in electronics: Market drivers and applications
Table 18: Commercialization timeline for nanocellulose in the electronics market, 2010-2020
Table 19: Estimates for construction markets impacted by nanocellulose
Table 20: Nanocellulose in construction: Market drivers and applications
Table 21: Commercialization timeline for nanocellulose in the construction market, 2010-2020
Table 22: Estimates for paper and pulp markets impacted by nanocellulose
Table 23: Nanocellulose in paper and pulp: Market drivers and applications
Table 24: Commercialization timeline for nanocellulose in the paper and pulp market, 2010-2020
Table 25: Nanocellulose in filtration: Market drivers and applications
Table 26: Commercialization timeline for nanocellulose in the filtration market, 2010-2020
Table 27: Estimates for medical and life sciences markets impacted by nanocellulose
Table 28: Nanocellulose in medicine and life sciences: Market drivers and applications
Table 29: Commercialization timeline for nanocellulose in the medical and life sciences market, 2010-2020
Table 30: Estimates for coatings and paints markets impacted by nanocellulose
Table 31: Nanocellulose in coatings and surfaces: Market drivers and applications
Table 32: Commercialization timeline for nanocellulose in the paints, films and coatings market, 2010-2020
Table 33: Estimates for rheological modifiers markets impacted by nanocellulose
Table 34: Nanocellulose rheological modifiers: Market drivers and applications
Table 35: Commercialization timeline for nanocellulose in the rheological modifiers market, 2010-2019
Table 36: Estimates for aerogels markets impacted by nanocellulose
Table 37: Nanocellulose in aerogels: Market drivers and applications
Table 38: Commercialization timeline for nanocellulose in the aerogels market, 2010-2020
Table 39: Estimates for oil markets impacted by nanocellulose
Table 40: Nanocellulose in the oil industry: Market drivers and applications
Table 41: Commercialization timeline for nanocellulose in the oil market
Table 42: Engineered graphene properties
Figure 13: Chemical Structure of Graphite, Graphene, Carbon Nanotube and Fullerene
Table 43: Commercial graphite types
Table 44: Comparative properties of graphene with nanoclays and carbon nanotubes
Table 45: Cost comparison of graphene
Table 46: Main production methods for graphene
Table 47: Graphene production overview
Table 48: Market structure for graphene (Competitors, structure, end user markets, market drivers, market challenges)
Table 49: Supply chain for the graphene market
Figure 14: Research papers on graphene, 2004-2011
Figure 15: Patent publications for graphene, 2004-2011
Figure 16: Patent publications for graphene, 2010-2011, by organization type
Figure 17: Main graphene patent applicants
Table 50: Graphene producers, production capacities per year, price and end user markets
Figure 18: Graphene production in tons, 2009-2020
Figure 19: Demand for graphene, by market, tons, volume, 2010
Figure 20: Demand for graphene, by market, tons, percentage, 2010
Figure 21: Demand for graphene, by market, tons, volume, 2011
Figure 22: Demand for graphene, by market, tons, percentage, 2011
Figure 23: Demand for graphene, by market, tons, volume, 2020
Figure 24: Demand for graphene, by market, tons, percentage, 2020
Table 51: Estimates for aerospace markets impacted by graphene
Table 52: Commercialization timeline for graphene in the aerospace market, 2008-2020
Table 53: Estimates for automotive markets impacted by graphene
Table 54: Commercialization timeline for graphene in the automotive sector, 2008-2020
Table 55: Estimates for biomedical markets impacted by graphene
Table 56: Commercialization timeline for graphene in the biomedical sector, 2008-2020
Table 57: Estimates for coatings and paints markets impacted by graphene
Table 58: Commercialization timeline for graphene in the coatings and paints sector, 2008-2020
Table 59: Estimates for communications markets impacted by graphene
Table 60: Commercialization timeline for graphene in the communications sector, 2008-2020
Table 61: Estimates for composites markets impacted by graphene
Table 62: Commercialization timeline for graphene in the composites sector, 2008-2020
Table 63: Comparison of ITO replacement technologies
Table 64: Comparison of graphene to semiconductor materials
Table 65: Estimates for electronics markets impacted by graphene
Table 66: Commercialization timeline for graphene in the electronics and data storage sector, 2008-2020
Figure 25: Graphene based solar cell
Table 67: Estimates for energy markets impacted by graphene
Table 68: Commercialization timeline for graphene in the energy sector, 2008-2020
Table 69: Estimates for energy markets impacted by graphene
Table 70: Commercialization timeline for graphene in the sensors market, 2008-2020
Table 71: Market structure for nanotubes (Competitors, structure, end user markets, market drivers, market challenges)
Table 72: Supply chain for the carbon nanotubes market
Figure 27: Patent applications for nanotubes, by market
Table 73: Production capacity of main carbon nanotubes producers, 2010-2011, tons
Table 74: Price per KG of carbon nanotubes
Figure 28: Demand for nanotubes, by applications
Figure 29: Demand for carbon nanotubes, 2011, tons
Table 75: Production of carbon nanotubes, conservative estimate 2002-2020, tons
Figure 30: Production of carbon nanotubes, conservative estimate 2002-2020 tons
Table 76: Estimates for aerospace markets impacted by nanotubes
Table 77: Commercialization timeline for nanotubes in the aerospace market, 2010-2020
Table 78: Estimates for automotive markets impacted by nanotubes
Table 79: Commercialization timeline for nanotubes in the automotive market, 2010-2020
Table 80: Estimates for energy markets impacted by nanotubes
Table 81: Commercialization timeline for nanotubes in the energy market, 2010-2020
Table 82: Estimates for environment markets impacted by nanotubes
Table 83: Commercialization timeline for nanotubes in the environment market, 2010-2020
Table 84: Estimates for medical and life sciences markets impacted by nanotubes
Table 85: Commercialization timeline for nanotubes in the medical and life sciences market, 2010-2020
Table 86: Estimates for military and defense markets impacted by nanotubes
Table 87: Commercialization timeline for nanotubes in the military and defense market, 2010-2020
Table 88: Estimates for composites markets impacted by nanotubes
Table 89: Commercialization timeline for nanotubes in the plastics and composites market, 2010-2020
Table 90: Estimates for electronics markets impacted by nanotubes
Table 91: Commercialization timeline for nanotubes in the electronics market, 2010-2020
Table 92: Estimates for sporting goods markets impacted by nanotubes
Table 93: Commercialization timeline for nanotubes in the sporting goods market, 2010-2020
Table 94: Estimates for telecommunications markets impacted by nanotubes
Table 95: Commercialization timeline for nanotubes in the telecommunications market, 2010-2020
Table 96: Estimates for textiles markets impacted by nanotubes
Table 97: Commercialization timeline for nanotubes in the textiles market, 2010-2020
Table 98: Commercialization timeline for silicene, 2012-2020
Table 99: Commercialization timeline for graphyne, 2012-2020
Table 100: Commercialization timeline for graphdiyne, 2012-2020
Table 101: Commercialization timeline for graphane, 2012-2020
Table 102: Commercialization timeline for molybdenum disulfide, 2012-2020

View the original article here