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Chinese real estate developers are now chasing the cash that has seeped beyond China’s borders

In the first nine months of 2012, as China prepared to usher in its new leadership, an estimated $225 billion leaked out of the country. Unsurprisingly, Chinese real estate developers are following that flighty capital abroad.<p>The Wall Street Journal reports that Shanghai-based Greenland Group is …

Real Estate

How the internet is making us poor

Everyone knows the story of how robots replaced humans on the factory floor. But in the broader sweep of automation versus labor, a trend with far greater significance for the middle class—in rich countries, at any rate—has been relatively overlooked: the replacement of knowledge workers with …

Income Inequality

The Luxury Real Estate Market In Downtown Manhattan Is Booming

For the first time in a decade, however, the asking prices for luxury Downtown apartments have outpaced those in Midtown and Uptown, new data show, as developments in Tribeca, Soho and Chelsea demand in excess of $7,000 per square foot.<p>The average asking price for a Downtown luxury apartment rose …

You Should Be Able To Skip Doing Your Taxes Altogether, But Intuit Has Lobbied Congress To Prevent It

Return-free filing is a system where the government prepares your tax returns, effectively getting rid of the need to hire a tax preparer or pay for software like TurboTax. Taxpayers would receive a prefilled return and have three options: accept it, make changes, or reject it and file it on your …

JCPenney Exec Delivers Candid Assessment Of The Company's Turnaround Strategy

Last year, CEO Ron Johnson laid out a revival plan that included boutique-style shop-in-shops, a "fair and square" pricing strategy that eliminated sales, and fancy marketing.<p>But Nick Wooster, the brand's SVP of product development and design, had a more straightforward idea for how the brand could …

Thousands Of Cribs Sold At JCPenney Are Being Recalled

There are tens of thousands of cribs — 73,000 to be exact — being recalled due to entrapment and suffocation hazards.<p>It involves 14 models of the PT Domusindo Perdana wooden drop-side cribs sold exclusively through JCPenney.com and through the retailer's catalog between 1998 and 2008.<p>Here's the …

Mr. Wu’s waterless outhouse starts a toilet revolution in China

Growing up in rural Hebei province in the 1970s, Henry Wu knew one thing for certain: He didn't want to end up as the guy who cleaned the very basic village toilet, a putrid ditch that had to be dredged each day.<p>Teachers in Mr. Wu's village of Jiedi used to threaten students who didn't study hard …

The 10 Highest-Paid Fortune 500 CEOs

USA Today looked at the 170 Fortune 500 companies that had filed proxy statements as of March 22nd, and that had a CEO that served for the entirety of fiscal 2012.<p>16 CEOs managed to pass the $20 million mark, and a couple managed to break $30 million. One tech CEO saw a massive 81 percent jump in …

CEOs

Warren Buffett On Teaching Kids Smart Investing, With Cartoons

Warren Buffett is a very busy businessman. He is in fact, currently the third richest person in the world, knocking off Zara billionaire Amancio Ortega from the number three spot on the Forbes Billionaire list. As of the end of the trading day on Monday, Warren Buffett had a net worth of $54.9 …

Is China’s transition working? Here are the five signs to look for

Yale University economist and famous China bull Stephen Roach has long argued that the country can shift its economic model from investment and exports to consumption-driven growth. China’s new leadership team, which took office only three weeks ago, has only made him more confident.<p>“I’m impressed …

China

The Only 3 Indicators Of Chinese Monetary Policy That You Need To Watch

But there has been much confusion about what metrics to track. Should we be watching broad money supply, measures of credit like loan growth, total social financing (TSF) and so on, or interest rates.<p>In a new note, Bank of America's Ting Lu writes that the three best indicators of China's "monetary …

Brazilian doctor investigated over 300 hospital deaths

A Brazilian doctor who has been charged with the murder of seven patients is being investigated in almost 300 other cases, according to health …

Chinese navy makes waves in South China Sea

Analysts: Country's bold move spurred by 'U.S. inaction.'<p>BEIJING – The appearance of a Chinese navy flotilla at an island chain 1,120 miles from its home shores is a clear sign that the new Communist regime is moving to enforce its claims to the entire South China Sea, experts said Wednesday.<p>James …

Bloomberg’s Soda Ban Is All About Common Sense

Mayor Michael Bloomberg’s ban on sugary drinks is good for you, New York, and for the rest of the country, too.<p>And here’s something else, a …

Kansas House Approves Drug Testing For Welfare Applicants, Elected Officials

The Republican-controlled Kansas House of Representatives on Tuesday approved legislation that would require drug testing for members of the state Legislature along with those seeking welfare and unemployment benefits.<p>The bill moves back to the state Senate, which approved the legislation earlier …

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