13 July 2012: Media company Aegis sells for $4,827 billion and Unemployment rates released

Japanese advertising company Dentsu Inc. made friendly $A4,827 billion cash offer for global media company Aegis Group. The enlarged group will be No. 1 in Asia, No. 2 in Europe, and fastest growing in North America. Local arm of Aegis is Australia’s largest media buyer, handling over 20% of domestic advertising dollars. Regularory approval expected to take until October. Aegis operates in over 80 countries and generated £1.1 billion revenue in 2011 calendar year.  Dentsu operates in 29 countries, generated £2.7 billion revenue FY2012. [CR: The types of deals that happen only a few times in a generation.]

Employment fell in June by the most in six months. Unemployment at 5.2%. Breakdown by state: NSW (5.1%), VIC (5.5%), QLD (5.3%), WA (3.5%), SA (6.4%), TAS (7.4%). Participation rate (measures working age population) dropped from 65.4% to 65.2%. [CR: Being in Queensland, makes me realise what a bubble we are in within our nation and globally.]

12 July 2012: Brisbane snags the G20 and Harvey Norman trying to be last one standing

Complaints about Carbon Tax: Australian Competition and Consumer Commission (ACCC) has had 630 complaints and inquiries related to the carbon tax since July 1, 10% of the 8350 general complaints. 250 of the inquiries were about how the carbon price would impact electricity and gas bills. [CR: If there is change, it will come from business pressures, not consumer.]

Brisbane to host the G20 in 2014. Federal government to fund $370 million. Brisbane expected to receive a $50 million economic benefit from hosting 4000 delegates and 3000 accredited media. NSW Planning and Infrastructure Minister Brad Hazzard: “To think that the US President, the heads of Russia, of Britain are going to Brisbane and be told this is a gateway city to Australia is just ridiculous.” Melbourne lord mayor said they did not want the event and WA Premier said his state lost interest when the costs emerged. Additional refurbishment investment in hotels expected.  [CR: I remember being in Melbourne for the G20 in 2006, getting to the train amid the protestors.  Chaos is the operative word I would use.]

Next battleground – social TV apps: Deloitte State of the Media Democracy survey of 2000 Australians found that 60% of TV viewers multi-task with mobile devices. Ten announced joint venture with UK-based Zeebox, a “second screen” TV platform and consumer service, allows users to find out more information, interact with other viewers, and buy things they see on screen. Similar solutions with other networks includes Seven’s Fango, Nine’s jump-in app, and ABC iView.  Zeebox is an agnostic app not tied to one channel.  [CR: I remember exploring the potential of TV hot spots in 2001 with set-top boxes, with the ability to book an appointment for a test drive when viewing a car commercial. That seems so archaic now... and I feel old.]

China population: China predicted to hit the point where there are more dependents than workers in 2013, which is 3 to 4 times faster than during the economic development of Japan and South Korea.  Fertility figures circulated at the China Update conference are 1.2 births per woman, below the official figure of 1.8 and below Japan’s figure of 1.4.  2.1 births per woman is the standard level for maintaining a stable population.  There will likely be a change in the one-child policy but the real cause is the same shift in social and economic attitudes leading to fewer children in the developed world. More developed countries can try and keep older people in the workforce, but China has a massive drop off in skills capacity ion the older workforce.  Only short-term solutions said to be capital investment to boost labour productivity and improve the quality of the workforce. [CR: Like a big simulator game, trying to make your populous have babies... but how does this fit into the whole global over-population discussion?]

Harvey Norman buys a Retravision and a Betta Electrical store in Gunnedah, NSW, looking at six more Retravision retailers looking to exit following collapse of Retravision Southern buying group in May. Harvey Norman bought Clive Peters for $55 million in 2010.  Consumer electronics has experienced 20 to 40% annual deflation, prices continue to fall but rate of decline has eased. Harvey Norman global sales have fallen 6.7% to $4.4 billion nine months ending in March, 7.5% decline in Australia. Harvey Norman has shown no interest in 300 Dick Smith stores being sold by Woolworths. [CR: Last one standing.]

Store wars: Coles announces another round of price reductions as part of a “Down Down” campaign, said to reduce prices on a range of products and brands by up to 29%. Made it clear the reduction would be funded by Coles, not suppliers, sacrificing margin to drive volume and subsequent profit.  Last week Woolworths accused of threatening to take products off shelves if suppliers did not cut prices by as much as 10%. Earlier Metcash’s IGA retailers launched $5 million, six-week campaign to promote price reduction up to 25%. [CR: Intense competition, suppliers often the ultimate losers.]

11 July 2012: Darryl Lea to sell and weakening labour market stats

Confectionery retailer Darrell Lea appoints insolvency firm after 85 years of operation.  Sales have fallen 20% over the past five years to about $80 million, posted a bottom line loss of $3.3 million in 2011. Points to influx of Lindt, Haigh’s, Max Banner and Guyilan, coupled with underinvestment in Darrell Lea brand and stores. Also been dogged by in-fighting from siblings over the family empire. For sale is the brand and 69 stores and manufacturing operations, employs 700 staff. [CR: No matter how long an organisation has been around, they are always at risk from external challenges, and internal challenges don’t help.]  (Sue Mitchell, Will Glasgow)

Labour force participation rates for women with children under 15 increased 66% between 2001 to 2009 (Household, Income and Labour Dynamics in Australia). Lone mother participation rates increased from 51% to 64%. Attributed to nation’s improved economic performance, the need for additional family income, preference for shorter career breaks, and government policies such as the 2004 childcare tax rebate. Biggest increases in spending were on housing rents and mortgage payments while car costs and petrol feel the most. Most likely major life event facing Australians over a 12-month period were changing jobs and moving house.  [CR: Interesting how moms in the workforce is attributed to “improved” economic performance AND need for additional income.  We are doing better so we need to work more? In a country where the primary stress is changing jobs. Something feels not quite right here.] (Jacob Breger)

Degrees versus apprenticeships: Apprentices earn an average of $52k after training (2010 National Centre for Vocational Education Research NCVER) compared to $50k for bachelor graduates (Graduate Careers Australia survey). Federal government aiming for 40% of young Australians to have a bachelor’s degree or above by 2025. Tertiary Education Minister Chris Evans figures show 2.4% increase in higher education enrolments in 2011 from 2010, NCVER May data shows 6.9% increase in apprenticeships.  Bachelor degrees show higher income in subsequent years. [CR: Access to education is critical, but so is initiative and opportunity.] (Primrose Riordan)

Labour market is weakening, making it harder for blue-collar workers (manufacturing, wholesale, transport, construction) to find work outside the mining sector especially for males over 50.   Unemployment is 5.1%, expected to hit 5.2%.  Structural changes have driven growth towards mining and energy, while online shopping and frugal consumer spending habits decrease growth in retailing, manufacturing, and travel. In FY2012, mining sector employment grew 24%, whereas all other sectors which represent 98% of total employment remained flat. [CR: A clear example of the two-speed economy. Knowing this, how will you cross-skill?] (Bianca Hartge-Hazelman)

China’s southern Guangdon province discharged 9.5 billion tonnes of raw sewage (75% of Guangdon’s output) into local rivers. Over 50% went into the Pearl River Delta. [CR: One of the world’s fastest growing economies, and still we have this.]

10 July 2012: Job ads fall and ACTA treaty back to the drawing board

Australian newspaper and internet job ads fell for third month in a row. Newspaper and internet ads decreased 2.6% in May, and another 1.2% in June. Newspaper adds dropped 3.3%, internet ads dropped 1.1%. Attributed to a “mild softening” in labour demand, potential concern over global economy, and pressure on profitability. (ANZ Group’s monthly job ads index)  [CR: When I see decreases or increases such as this, I have to ask whether this is a “decrease” or a “correction”. We pass value judgments on increase and decrease as “good” and “bad”, when in reality a continuous increase of job ads would appear untenable and be incredibly painful for anyone looking to hire or maintain staff.] (Jacob Greber)

China city of Wenzhou mandates corporate expenses: The Wenzhou city Commission for Discipline Inspection imposed a limit of $9.28 per person on work-related meals.  Banned abalone, sharkfin, sea cucumber, high-end and imported alcohol, and premium cigarettes on expenses. China’s national government to ban shark fin at government functions within 3 years.  Chinese officials spent 200 billion yuan on meals in 2004. [CR: Two thoughts: 1) We see the invisible hand of the market at work for environmental outcomes. Increase cost, stop the undesirable behaviour.  2) I cannot imagine a governemnt body in Australia called the “Commission for Discipline Inspection”.  That is just so non-politically correct.] (Yidi Zhao)
NAB online sales index for May showed online spending grew by 14% year on year, compared to 41% for same month in 2011. Brick and mortar retail grew by 0.2% in the same period.  Multi-channel retailers (those offering both online and store-front) are generating up to 30% of their monthly sales through their online stores. [CR: The story is not that online is decreasing, but that the tipping point has passed and we are seeing the innovation normalise and prepare for the next leap, which will be whatever follows mobile.] (Mercedes Ruehl)

ACTA treaty on terminal pause: Anti-Counterfeiting Trade Agreement (ACTA) is a multinational treaty designed to stop illegal downloads and sale of fake luxury goods and medication. On July 4, the European Parliament voted overwhelmingly against ACTA.  Treaty being reviewed in Australia by the Joint Standing Committee on Treaties, recommended delaying final ratification. A minimum of six countries required to enforce the treaty. Current position is that a new treaty may be negotiated, citing lack of transparency in negotiations as the reason for the failure. [CR: Free downloads now almost seen as a “right”, be interesting to see the reaction when they finally do crack down.] (David Ramli)  

CBA mobile stats: In June, 46% of online interactions were through mobile devices.  Kaching mobile solution opened up to allow merchants who bank with other institutions to receive payments. (Brian Corrigan)

Nokia engineers say they have developed a filter system to stop 80% of accidental touches on the smartphone. New Scientist research shows that about 1500 out of 4000 touches are unintentional mistakes. [CR: I will admit to a few unintentional tweets.]

US Judge Richard Posner calls into question the validity of using software patents, in June threw out the case Apple was bringing against Motorola Mobility.  Said “It’s not clear that we really need patents in most industries. You just have this proliferation of patents, and its a problem.” [CR: A question I am asked from start-ups, “should we patent?”This issue with patents is that it is not an assessment of who came up with the idea first, but which digital corporate has the biggest legal pockets. The patent process then becomes a tool to squash competition.]

Google Android data: Of all devices that accessed Google’s App store in the two-week ending last Monday, 10.9% were running the current operating system, Ice Cream Sandwich released eight months ago. 64% of devices run previous operating system Gingerbread, released in December 2010. [CR: Mmmm... fragmented deserts.]

Analysts are saying Blackberry may be up for shareholder lawsuits if there is indication RIM has misled investors.  RIM shares dropped 95% from peak mid-2008, posted a $518 million quarterly loss. BlackBerry 10 delayed, to be launched “later this year”. [CR: The risk of optimism.]

9 July 2012: Do we want racial diversity? Yahoo! CEO search and Costco expands

Racial diversity survey by Leadership Management Australia of 2000 AU and NZ businesses: 66% embrace cultural diversity, 50% think it brings benefits, 45% of business leaders do not want their organisations to be more diverse, 30% of employees do not want their organisations to be more diverse. [CR: Does that mean they are diverse enough, or that they just don’t want anyone not like them?](Lucille Keen)

Yahoo! Looking for new CEO. Hulu CEO Jason Kilar declined the role. Five executives have taken the role since 2009. Scott Thompson left in May after failing to correct an error in his academic credentials. Yahoo! Shares have fallen 1.7% this year. [CR: Five CEOs in three years... You could take it and say “What’s the worst that can happen?] (Brian Womack)

Retailer Costco set to expand to second stores in Melbourne and Sydney, with plans for stores in Brisbane and Adelaide [CR: strange reading this, when I remember shopping in Costco when it first opened as a kid in Seattle in the 80s.]

6 July 2012: Telstra charge increase and Retailer strategic response to online competition

Telstra to increase mobile charges: New range of “Every Day Connect” plans incorporate a 10% increase in call rates to $.99 per minute, a $.05 increase to flag fall rates to $.40, and lower data allowances, which are 500 meg a month lower.  Cheapest smartphone plans increased from $49 per month to $60 per month. Telstra says traffic on wireless network is doubling every 12 months. Telstra signed up 958,000 new mobile customers pushing market share to 44%. Telstra’s annual capital budget at 14% of sales at $3.5 billion, $1 billion of which goes into mobile network infrastructure.  Telstra’s 4G network covers 40% of the population, Optus expected to activate 4G in capital cities in coming weeks and Vodafone committed to launching services next year. (John McDuling)

Commonwealth Bank Facebook banking: CBA plans Facebook banking by end of the year to enable payments to Facebook friends, mobile numbers, and email addresses. Customers will be able to make BPAY payments and transfer funds or check account balances and transactional histories. Android and iPhone Kaching app has been downloaded more than 365,000 times, used to transfer more than $1 billion. [CR: Puts new emphasis on someone “hacking your Facebook”] . (Brian Corrigan, Paul Smith)

Wheat price increase: Drought across US midwest cropping belt drives prices up 31% in past fortnight to 10 month high.  Wheat is at $US8 per bushel, was at $US9 per bushel in 2010 during the Russian drought and below $US13 per bushel of the soft commodities boom four years ago. Expected to continue to increase and affect food prices globally unless weather conditions change. Farmers resistant to forward sell due to threat of El Nino associated with drought in Australia. Last year was a record Australian wheat crop harvest of 29.5 million tonnes, this year is expected to be 24.1 million tonnes. [CR: Wonder if the price increases will be blamed on the carbon tax?] (Sophie Morris)

Salvos Stores increase 8% in sales over 64 stores in NSW and ACT over the past year. Those shopping for fashion reasons account for 15% of the increase. Australian Bureau of Statistics said retail sales rose 0.5% in May, the biggest rise since 2010. Total retail sales rose 3.3% over the year. Influenced by satorialist-style blogs capturing people wearing street style. [CR: Social media influencing retail, although I suspect the government carbon tax payment may have an impact on certain socio-economic areas, as noticed a few days ago.] (Lisa Carapiet)

Flight Centre increase: Boost in corporate and leisure sales contributed to profit before tax upgrade of 18% on prior year. Focus for the year will be on growing business organically by opening more stores and recruiting additional sale staff.  Expected to employ 1000 new sales consultants and open it’s 2500^th shop and business.  [CR: Good to see an article about employment numbers going the other way for once.] (Michael Hobbs)

US retailers respond to online: Competing against “showrooming”, where shoppers check out products in stores then buy online.  Best Buy responds by replacing standard bar codes with Best Buy-only bar codes on big ticket items so they cannot be scanned and compared online.  Walmart, Macy’s Best Buy, Sears, and the Contain store now add web return centres, pick-up locations, free shipping outlets, payment booths, and drive-through customer service centres for online sales. Over 50% of sales through Walmart.com are picked up at Walmart stores. In April, Walmart started offering cash sales online, accessed a new type of customer. 40% of customers who paid with cash online used non-cash methods to pay such as check or debit card when picking up in store. The service accounts for 2% of online sales. Sears offers drive through for same day pickup of web purchases.  Container Store VP of stores John Thrailkill: Online orders tend to be larger than in-store purchases, customers who picked up orders in store visited 50% more often than customers who only shopped in store. (Stephanie Clifford)

5 July 2012: Brumby's carbon tax memo

Brumby’s pinged for carbon tax memo: Brumby’s Bakery Managing Director Deane Priest in an internal Backmix newsletter to franchisees: “We are doing a recommended retail price review which is projected to be in line with CPI, but take an opportunity to make some more moves in June and July, let the carbon tax take the blame, after all your costs will be going up due to it.” Opposition leader Tony Abbot handing out posters to stores that state “The federal government estimates that the carbon tax will increase the cost of energy by 10 per cent in its first year of operation. It will also increase the cost of our suppliers... We always strive to keep our prices at reasonable levels but because the carbon tax will make electricity more expensive, our prices will increase. We apologise for the increases.” If a company is caught with price rising conduct that is a concern, ACCC has power to issue infringement fines of $6600 or take court action with penalties of $1.1 million. [CR: As an executive be careful what you say in all communications, even if it is goaded on by political persuasion.] (Claire Stewart)

US auto industry beats expectations in June: US auto industry posted 22% rise in sales in June: Toyota 60.3%, Honda 48.8%, General Motors 15.5%, Chrysler 20.3%, Ford Motor 7.1%. 

4 July 2012: Microsoft writes off $6.2 billion and South Korea gender equality

Microsoft writes off $6.2 billion: Blamed on performance of online services division. Paid $6.3 billion to acquire digital advertising agency aQuantive in 2007, growth and profitability lower than expected. Failed to gain foothold in smartphone market, CEO Balmer announced Slate computers two years ago that never materialised two months before Apple iPad was released, Online search and advertising investments not paid off.  Xbox and Kinect are bright spots. [CR: $6.3 billion for a digital agency? Sounds like a bargain.] (Brian Corrigan)

Dell to purchase Quest Software for $2.4 billion. Quest was founded in 1987, has $US857 million in annual sales, sells software t manage databases, protect information, and simplify access to data.  Looking to be an end to end solutions company across SME and enterprise. Dell’s profit fell 33% to $US635 million, mobile and desktop computer sales down 6%. [CR: Perhaps Dell will fare better?] (Evelyn Rusli)

South Korea gender diversity: South Korea is Asia’s fourth largest economy, only 50% of women 15 years or older were working last year. Female participation with higher education is lowest of the 34 members of the Organisation for Co-operation and Economic Development. Royal Bank of Scotland: South Korea working age population to contract by 2016, curbing growth by 1.7 percentage points to 2.5% by 2050. Women in OECD countries earn on average 16% less than men, women earn 39% less than men in South Korea. 1.9South Korean boardrooms made up of 1.9% women. (Eunkyung Seo)

US Information Security Oversight Office said government spent more than $US11 billion to protect secrets last year, double the cost a year ago. [CR: I wonder if they have twice as many secrets, or how additional channels such as social media or WikiLeaks impact the costs?]

Thousands of anti-pollution protestors in China halted the construction of a copper plant, lobbed bricks at government offices and were dispersed by police with tear gas. [CR: Reference previous story on China air pollution.]

3 July 2012: Financial industry moderate growth and Trends in TV

Australia parking price comparison: Sydney most expensive, Melbourne least. 1 hr: BNE $27.94, SYD $26.71, MEL $17.08 | 2 hr: BNE $42.31, SYD $51.35, MEL $34.36 | 4 hr: BNE $65.71, SYD $72.25, MEL $58.85 | 8 hr: BNE $65.83, SYD $74.23, MEL $63.68.  Perth, Adelaid and Hobart are all under $5 for 1 hour parking.  Brisbane fastest growing, rising 29% in 2010-2011 compared to 7% Sydney and 3.5% Melbourne. RACQ executive manager of public policy Michael Roth says Brisbane high rates due to lack of supply and lack of competition. (Jason Murphy)

Ernst & Young say EU to worsen in 2013: bank balance sheets in 2012 is worrying, but the real impact will be seen in 2013 with loan defaults.  Non-performing loans are a “ticking time bomb”. Leniency from lenders is masking the true extent of non-performing portfolios. (CR: Would it be better to increase the immediate pain and call in the loans or delay the inevitable?] (James Hurley)

Financial industry to see modest growth: Westpac chairman Lindsay Maxsted and CEO Gail Kelly predict moderate growth due to consumers reducing their gearing and businesses (apart from mining) limiting new investment, as well as increased regulation on banks from government. Westpac return on equity declined from 23% in 2007 to 15.1% in first half of this year. ANZ reported a 7% fall in underlying profit from domestic operations six months to March, compared to 21% rise in profit from Asia Pacific and America division. ANZ CEO Mike Smith: “We are seeing a competitive advantage emerge in our core franchisees through greater customer and product connectivity and from diversification to higher growth countries in Asia.” Australia’s economic fundamentals remain sound with low unemployment, controlled inflation, and low levels of government debt.  Westpac reporting $100 million in savings as a result of 560 staff positions and outsourcing and offshoring some back office functions. [CR: Competitive advantages “emerge”... at times it can feel as though they just pop up and surprise us.] (John Kehoe)

Trends in TV: For the younger generation, TV is on in the background while playing computer game and watching YouTube.  As a result, cable channels introducing shorter episodes, bulking up online content, and changing plot lines based on social media response.  Prized demographic is the millenials, 98 million people aged 7 to 29. 41% of viewers watch shows recorded earlier on DVRs – Boston consulting Group and ad agency Barkley study.  TV shows are now being offered online within hours of airing.  Television network CW’s executive vice-president of marketing and digital programs Rick Haskins: “You need to supply them the product, however they want to consume it”. Digital accounts for 18% of network’s total viewing, doubled in the last year. 93% of viewers who stream episodes have not watched them in the last year.  Nickelodeon ratings dropped this season by 25% after it made episodes available through Netflix, responding by adding 650 new episodes of programming. YouTube content being picked up for TV, YouTube show Annoying Orange debuted with 2.6 million viewers and first in rating timeslot for 2 to 14 year olds. Parallax media strategist Jess Wiener talks about a “360-degree connection” and a “tri-level experience”, finding out details about the characters and discussing on Facebook. The season premier episode of Disney’s Pretty Little Liars series became the most commented cable show in social media history with 534,000 tweets.  (Dawn Chmielewski, Meg James)

Apple iPad in China: Apple paid $60 million to settle ownership dispute over the name iPad , highlights pitfalls of overseas trademarks as well as China attracting technology investors. (The Guardian)

Australian Bureau of Statistics report: Online orders to businesses up 32% in 2010-2011 to $149 billion.  Proportion of businesses that received orders online increased by 13% to 28%. 33% of micro businesses (<4 emplloyees) had a web presence, 97% of large businesses. [CR: I wonder who the 3% of large businesses were who did not have a web presence?]

2 July 2012: Australian dollar predictions and Carbon tax impacts

Australian dollar predictions: In 2011-12, AU dollar spent four times as many days above parity as below, averaging US$1.03 over the year, hit a high of US$1.10 in July and a low of US$.95 in October. Macquarie and ANZ predict dollar will hit $US1.07 in a year, Macquarie predicts dollar will stay above parity until 2015. [CR: In the same article the ANZ rep says the old prediction model placed the dollar at US$.89. We can’t predict 6 months out, and we are stating numbers for three years out?]

Advertising win for SBS Tour de France: SBS sold all advertising slots for Tour de France weeks before it began. In 2010, SBS secured broadcast rights until 2017 for an undisclosed sum, believed to be $2m to $3m. Analysts speculate value of advertising to SBS is between $4m and $5m.  Average daily audience in Australia is 700,000 viewers, higher than in the US.  As a public broadcaster, SBS is restricted to screening only 5 minutes of advertising per hour.

Carbon tax impacts: Wesfarmers CEO Richard Goyder says while Coles will take a hard line on supplier’s price rises, at some point prices will start to rise as a result of the carbon tax. Myer CEO Bernie Brookes estimated tax will cost Myer $4 million per year. Said they tendered for new electricity business and the wining tender was 37% higher than last year.  Energy Retailers Association of Australia CEO Cameron O’Reilly says carbon price will push up price, but increase also a result of rising infrastructure costs.  Treasury modelling shows carbon tax will increase prices by 0.7% in 2012-13, food to increase by less than 0.5%. Australia Industry Group survey shows 40% of manufacturing businesses, 40% of services businesses, and 44% of construction businesses will try to pass the cost to consumers.  [CR: Difficult for businesses needing to raise rates as a result of high labour costs, will be lynched for taking advantage of the carbon tax.]

Telstra Corp’s venture capital buys stake in IPscape for less than $5m: North Sydney-based IPscape was established in 2007 and is a global provider of contact centre applications, Telstra to incorporate IPscape’s technology  into its own virtual contact centre (VCC) solution for large corporate clients. Telstra’s venture capital division recently led a $35m round of financing for California-based video streaming service Ooyala and also invested in restaurant booking service Dimmi. [CR: The crazy world of tech start-ups and acquisitions.]

Barriers to Indigenous in education: Over 150,000 Australians hold an accounting or book-keeping qualification, 11 self-identify as indigenous Australians. Aboriginal and Torres Strait Islander people represent 2.5% of the total Australian population.  Australia’s three main accounting bodies (CPA Australia, the Institute of Chartered Accountants in Australia, and the Institute of Public Accountants, also known as the Joint Accounting Bodies) launch an initiative to attract 1000 indigenous people into the Accounting profession. Cultural barriers include a reluctance to leave traditional lands, different notions of property and ownership, and strong ties to clan and kin. [CR: Interesting to note the challenges faced.]

Business lending increases: Total lending to AU and NZ businesses by banks increased 0.8% in May. Business credit increased 3.3% over the past year, fastest annual growth since 2009.By comparison, home loan lending increased by 0.3% in May. Home lending has grown 5.1% in past year, slowest annual pace in 34 years. [CR: Increased business capital flows and decreased consumer debt... that’s good, right?]

Japan solar: Japan’s third-largest mobile company said to build nation’s largest solar plant (111 megawatts) to start operating in FY 2014. [CR: Solar is not a nuclear killer. By comparison, the recently restarted Ōi Nuclear Power Plant in Japan has an 1180 megawatt capacity.]