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Protest at Tata Plant Evidence of Indian Identity Crisis |
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By Jason Simpkins
Associate Editor
At a price of just $2,500 each, Tata Motors Ltd.’s (TTM) Nano was billed early in its development as the world’s cheapest automobile and the only car that was both affordable and practical enough for India’s quickly burgeoning middle class. But the car that was emerging as a bright symbol of middle-class opportunity in fast-growing India could now epitomize something much darker: The human cost of rapid industrialization.
Company officials this week disclosed that the Nano might not debut next month as originally planned, because violent protests have erupted at the automobile’s main production site.
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As Japan's Economic Sun Sets - Albeit Temporarily - Look to Korea as an Asian Profit Play |
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By Martin Hutchinson
Contributing Editor
I have been much more positive about the Japanese economy than most other analysts in recent months, largely because I believed that many of the problems from the Japanese recession of 1990-2003 were finally in the country’s rearview mirror. In particular, I believed that the Japanese budget deficit – which, by 2003, had become quite acute – was well on the way to being solved through public spending restraint. That, in turn, would allow Japan to pay down its excessive public debt, giving its private sector room to expand.
But the surprise resignation of Japanese Prime Minister Yasuo Fukuda on Monday suggests I may have been wrong about the country’s near-term prospects.
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China Huiyuan Quenches Coca-Cola’s Thirst for Foreign Exposure, but Still Faces Regulatory Scrutiny |
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By Jason Simpkins
Associate Editor
The Coca-Cola Co. (KO) announced yesterday (Wednesday) that it will buy China Huiyuan Juice Group Ltd. for $2.3 billion (HK$17.9 billion) in an effort to diversify its presence in one of the world’s fastest-growing beverage markets. But the deal still requires government approval, which is anything but guaranteed.
Coca-Cola’s offer of $1.56 per share (HK$12.20) is more than triple China Huiyuan’s recent closing price of HK$4.14 a share. It is the company’s largest overseas acquisition to date, and the biggest foreign takeover of a Chinese company ever. The deal values Huiyuan at 46.6 times this year’s estimated earnings, according to Bloomberg data. |
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