China’s Reforms Newpath To Equities|alliancebernstein Website

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It may not promise the dazzling returns some hope to achieve from Chinas growth stocks, but it may be a less risky proposition than those contrarian plays. Its a result of the governments plan to improve the profitability of state-owned enterprises (SOEs). The plan includes a range of measures, such as better incentives for management, corporate restructuring, spin-offs and mergersany of which can create opportunities for investors. Historically, investors have been wary of Chinas SOEs because free their returns on assets are inferior to those of the private sector, and the gap between the two has been widening in recent years (Display). We believe that the governments reforms could lead to a narrowing of that gap, suggesting that this could be a good opportunity for investors to position themselves to take advantage of improved profitability among SOEs. Looking Across Sectors Examples can be found across diverse sectors. Sinopec, the countrys largest refiner, is spinning off its service stations into a separate entity. This is a huge business that consists of tens of thousands of outlets and associated retail operations. The restructuring is drawing private capital into the business and focusing management on unlocking its inherent value. In the telecom sector, the government is driving a plan for the three major companiesChina Mobile, China Telecom and China Unicomto pool their mobile phone tower assets.

News NEW YORK (Reuters) - U.S. stocks ended lower on Thursday, reversing course late in the session as energy shares dropped and caution grew ahead of Friday's jobs report. Based on the latest available data, the Dow Jones industrial average fell 8.76 points or 0.05 percent, to 17,069.52, the S&P 500 lost 3.06 points or 0.15 percent, to 1,997.66 and the Nasdaq Composite dropped 10.28 points or 0.22 percent, to 4,562.29. (Reporting by Caroline Valetkevitch; Editing by Nick Zieminski) via Economy News Headlines - Yahoo! News By Adrian Croft and Guy Faulconbridge NEWPORT Wales (Reuters) - NATO demanded on Thursday that Moscow withdraw its troops from Ukraine as U.S. President Barack Obama and his Western allies vowed to support Kiev and buttress their own defenses against Russia in the biggest strategic shift since the Cold War. NATO leaders made clear at a summit in Wales that their military alliance would not use force to defend Ukraine, which is not a member, but planned tougher economic sanctions to try to change

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No, Seattle, home of Microsoft Corp and Amazon and fast becoming a second home for Silicon Valley companies looking to access the city's plentiful pool of relatively cheap tech talent. Microsoft alumni are now running the Se via Business News Headlines - Yahoo News UK By Jonathan Stempel NEW YORK (Reuters) - A Manhattan federal judge said on Thursday that investors may pursue a lawsuit accusing 12 major banks of violating antitrust law by fixing prices and restraining competition in the roughly $21 trillion (12.8 trillion pound) market for credit default swaps. District Judge Denise Cote said investors may press claims that the defendants' Sherman Act violations caused them to pay unfair prices on CDS trades from the autumn of 2008 through the end of 201 via Business News Headlines - Yahoo News UK By Alexei Oreskovic SAN FRANCISCO (Reuters) - Twitpic, an early online service that allows Internet users to share photos on the Twitter Inc social network, is shutting down due to what it said were legal threats from Twitter. The dispute revolves around Twitpic's effort to have its name approved as a trademark, which Twitter appears to believe violates its own trademark. Twitpic gained a loyal following after its 2008 launch for allowing users to post photos on Twitter's social networ via Business News Headlines - Yahoo News UK An elderly woman was found beheaded at a house in a north London suburb on Thursday, British media reported, in an incident that police said did not appear to be terrorist related. She was named as 82-year-old Palmira Silva who detectives believe is of Italian descent. "Whilst it is too early to speculate on what the motive behind this attack was I am confident, based on the information currently available to me, that it is not terrorist related," said Detective Chief Inspector John Sandlin who via Business News Headlines - Yahoo News UK By Jed Horowitz NEW YORK (Reuters) - The tens of millions of dollars in annual fees that mutual fund companies pay to brokerages and their financial advisers to encourage sale of certain funds to retail investors are growing in size and variety, but the phenomenon is largely invisible to investors.