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	<title>FT Alphaville</title>
	<atom:link href="http://ftalphaville.ft.com/feed/" rel="self" type="application/rss+xml" />
	<link>http://ftalphaville.ft.com</link>
	<description>FT Alphaville - Market Commentary - FT.com</description>
	<lastBuildDate>Tue, 21 May 2013 21:24:11 +0000</lastBuildDate>
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		<title>The Closer</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1511552/the-closer-240/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1511552/the-closer-240/#comments</comments>
		<pubDate>Tue, 21 May 2013 21:24:11 +0000</pubDate>
		<dc:creator>Joseph Cotterill</dc:creator>
		
		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1511552</guid>
		<description><![CDATA[<p>FURTHER FURTHER READING</p>
<p>- Why Jamie Dimon remains both chairman and chief executive of JPMorgan: because <a title="How Jamie Dimon Kept His Job - Kevin Roose" href="http://nymag.com/daily/intelligencer/2013/05/how-jamie-dimon-kept-his-job.html" target="_blank">he makes money</a>, and because <a title="JPMorgan Shareholders Fond Of This Dimon Guy, Would Like To See More Of Him - Dealbreaker" href="http://dealbreaker.com/2013/05/jpmorgan-shareholders-fond-of-this-dimon-guy-would-like-to-see-more-of-him/" target="_blank">he makes money</a>. (But is that a chairman&#8217;s job?)</p>
<p>- No more <a title="Why is there no Milton Friedman today? - Marginal Revolution" href="http://marginalrevolution.com/marginalrevolution/2013/05/why-is-there-no-milton-friedman-today.html" target="_blank">economist superstars?</a></p>
<p>- Watch what they do, not what they say, <a title="Be careful how you swing that hatchet! - Betting the Business" href="http://bettingthebusiness.com/2013/05/21/be-careful-how-you-swing-that-hatchet/" target="_blank">Dodd-Frank lobbying</a> edition.</p><a href="http://ftalphaville.ft.com/2013/05/21/1511552/the-closer-240/" class="more-link">Continue reading: The Closer</a>]]></description>
		<wfw:commentRss>http://ftalphaville.ft.com/2013/05/21/1511552/the-closer-240/feed/</wfw:commentRss>
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		<title>Jamie fatalism</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1511452/jamie-fatalism/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1511452/jamie-fatalism/#comments</comments>
		<pubDate>Tue, 21 May 2013 16:16:17 +0000</pubDate>
		<dc:creator>Joseph Cotterill</dc:creator>
				<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[jamie dimon]]></category>
		<category><![CDATA[JPMorgan]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1511452</guid>
		<description><![CDATA[<p>This is what JPMorgan investors were treated to on the webcast, after hearing shareholders at the bank&#8217;s annual meeting vote against splitting the chairman and chief executive roles&#8230;</p> <p>Barely one in three shareholders voted in favour of crowbarring Jamie Dimon out of the chairmanship even after the CIO debacle&#8230;</p><a href="http://ftalphaville.ft.com/2013/05/21/1511452/jamie-fatalism/" class="more-link">Continue reading: Jamie fatalism</a>]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Apple Live</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1511342/apple-live-2/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1511342/apple-live-2/#comments</comments>
		<pubDate>Tue, 21 May 2013 14:50:16 +0000</pubDate>
		<dc:creator>FT Alphaville</dc:creator>
				<category><![CDATA[Apple]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1511342</guid>
		<description><![CDATA[<p>Apple CEO Tim Cook is up soon in front of a US Senate committee. First though, Professor Stephen E. Shay of Harvard, who knows both his tax and his bow-ties:</p>
<p><a href="http://www.c-span.org/flvPop.aspx?id=10737439742" target="_blank"><img class="alignnone size-full wp-image-1511322" src="http://ftalphaville.ft.com/files/2013/05/Cspan.png" alt="" width="445" height="238" /></a></p>
<p>Click through the pic for the <a title="Cspan stream" href="http://www.c-span.org/flvPop.aspx?id=10737439742" target="_blank">C-Span stream</a>.</p>
<p>Alternatively, join our colleagues over at the FT&#8217;s Tech blog, where the action is being <a title="Tech Blog on Apple's Senate hearing" href="http://blogs.ft.com/tech-blog/liveblogs/2013-05-21/" target="_blank">discussed in detail.</a></p>
<a href="http://ftalphaville.ft.com/2013/05/21/1511342/apple-live-2/" class="more-link">Continue reading: Apple Live</a>]]></description>
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		<title>Everlasting credit, the long view</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1511152/everlasting-credit-the-long-view/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1511152/everlasting-credit-the-long-view/#comments</comments>
		<pubDate>Tue, 21 May 2013 13:52:54 +0000</pubDate>
		<dc:creator>Paul Murphy</dc:creator>
				<category><![CDATA[Sovereign Debt]]></category>
		<category><![CDATA[UK]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1511152</guid>
		<description><![CDATA[<p>From historical chart specialists <a title="GFD website" href="http://www.globalfinancialdata.com/index.html" target="_blank">Global Financial Data</a> &#8212; the yield on perpetual <strong>Consols </strong>versus the stock of UK sovereign debt&#8230;all the way back to 1742. Click to view&#8230;</p><a href="http://ftalphaville.ft.com/2013/05/21/1511152/everlasting-credit-the-long-view/" class="more-link">Continue reading: Everlasting credit, the long view</a>]]></description>
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		<title>Buyback to enrich</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1511022/buyback-to-enrich/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1511022/buyback-to-enrich/#comments</comments>
		<pubDate>Tue, 21 May 2013 11:40:42 +0000</pubDate>
		<dc:creator>David Keohane</dc:creator>
				<category><![CDATA[Executive pay]]></category>
		<category><![CDATA[Fobor]]></category>
		<category><![CDATA[Income Inequality]]></category>
		<category><![CDATA[QE]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1511022</guid>
		<description><![CDATA[<p>From SocGen&#8217;s Andrew Lapthorne and quant team: in the first quarter of 2013, buybacks done to offset the dilution from executive stock options maturing reached near a post crisis high and ticked past the amount of buybacks done to reduce the overall share count &#8212; you know, those done to benefit the shareholders:</p>
<p><a href="http://ftalphaville.ft.com/files/2013/05/SocGen-buybacks.png" target="_blank"><img class="alignnone size-large wp-image-1511032" src="http://ftalphaville.ft.com/files/2013/05/SocGen-buybacks-590x313.png" alt="" width="590" height="313" /></a></p><a href="http://ftalphaville.ft.com/2013/05/21/1511022/buyback-to-enrich/" class="more-link">Continue reading: Buyback to enrich</a>]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Spain&#8217;s awful unemployment</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1510432/spains-awful-unemployment/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1510432/spains-awful-unemployment/#comments</comments>
		<pubDate>Tue, 21 May 2013 10:24:57 +0000</pubDate>
		<dc:creator>Kate Mackenzie</dc:creator>
				<category><![CDATA[Eurozone]]></category>
		<category><![CDATA[Spain]]></category>
		<category><![CDATA[Unemployment]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1510432</guid>
		<description><![CDATA[<p>Is it only going to get worse before it gets better?</p>
<p><a href="http://ftalphaville.ft.com/2013/05/21/1510432/spains-awful-unemployment/unemp-spain-italy-france-germany-socgen/" rel="attachment wp-att-1510452" target="_blank"><img class="alignnone size-full wp-image-1510452" src="http://ftalphaville.ft.com/files/2013/05/UnEmp-Spain-Italy-France-Germany-SocGen.png" alt="Unemployment - Spain Italy France Germany - SocGen" width="390" height="279" /><br />
</a></p>
<p>Societe Generale think so: as the chart says, they&#8217;re expecting it to reach 30 per cent in 2015 (from an <a title="Marginalised in Spain - FT AV" href="http://ftalphaville.ft.com/2013/04/25/1475592/marginalised-in-spain/" target="_blank">already-awful and record-breaking 27.2 per cent</a>, at last count). </p><a href="http://ftalphaville.ft.com/2013/05/21/1510432/spains-awful-unemployment/" class="more-link">Continue reading: Spain&#8217;s awful unemployment</a>]]></description>
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		<slash:comments>0</slash:comments>
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		<title>That soaraway Nikkei and the yen</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1510302/that-soaraway-nikkei-and-the-yen/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1510302/that-soaraway-nikkei-and-the-yen/#comments</comments>
		<pubDate>Tue, 21 May 2013 10:05:02 +0000</pubDate>
		<dc:creator>David Keohane</dc:creator>
				<category><![CDATA[Abenomics]]></category>
		<category><![CDATA[Currencies]]></category>
		<category><![CDATA[Yen]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1510302</guid>
		<description><![CDATA[<p>Spot the outliers:</p>
<p><a href="http://ftalphaville.ft.com/files/2013/05/Japanese-equities-Nomura.png" target="_blank"><img class="alignnone size-large wp-image-1510312" src="http://ftalphaville.ft.com/files/2013/05/Japanese-equities-Nomura-590x248.png" alt="" width="590" height="248" /></a></p><a href="http://ftalphaville.ft.com/2013/05/21/1510302/that-soaraway-nikkei-and-the-yen/" class="more-link">Continue reading: That soaraway Nikkei and the yen</a>]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Markets Live: Tuesday, 21st May, 2013</title>
		<link>http://ftalphaville.ft.com/marketslive/2013-05-21/</link>
		<comments>http://ftalphaville.ft.com/marketslive/2013-05-21/#comments</comments>
		<pubDate>Tue, 21 May 2013 10:01:33 +0000</pubDate>
		<dc:creator>Paul Murphy</dc:creator>
		
		<guid isPermaLink="false">http://ftalphaville.ft.com/?post_type=webchat-markets-live&#038;p=1510752</guid>
		<description><![CDATA[<p>Live markets commentary from FT.com</p>
<a href="http://ftalphaville.ft.com/marketslive/2013-05-21/" class="more-link">Continue reading: Markets Live: Tuesday, 21st May, 2013</a>]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>The (early) Lunch Wrap</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1510552/the-early-lunch-wrap-278/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1510552/the-early-lunch-wrap-278/#comments</comments>
		<pubDate>Tue, 21 May 2013 09:45:30 +0000</pubDate>
		<dc:creator>FT Alphaville</dc:creator>
		
		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1510552</guid>
		<description><![CDATA[<p>Oklahoma tornado kills dozens and flattens town || Congress accuses Apple of avoiding billions in tax || U.S. and Europe prepare to settle Chinese solar panel cases || US corn rush threatens prices || Vodafone to reinvest £2.1bn Verizon dividend || Qatar buying fresh stakes in key banks || Goldman Sachs is selling its remaining shares in Industrial &amp; Commercial Bank of China || Riverstone leads talks of $1bn commodities venture || Japan panel warns of dangers if debt not addressed || U.K. inflation slowed more than economists forecast in April || Markets roundup || FTAV's latest</p>
<a href="http://ftalphaville.ft.com/2013/05/21/1510552/the-early-lunch-wrap-278/" class="more-link">Continue reading: The (early) Lunch Wrap</a>]]></description>
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		<slash:comments>0</slash:comments>
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		<title>A fresh spike in shareholder activism?</title>
		<link>http://ftalphaville.ft.com/2013/05/21/1510342/a-fresh-spike-in-shareholder-activism/</link>
		<comments>http://ftalphaville.ft.com/2013/05/21/1510342/a-fresh-spike-in-shareholder-activism/#comments</comments>
		<pubDate>Tue, 21 May 2013 08:55:32 +0000</pubDate>
		<dc:creator>Paul Murphy</dc:creator>
				<category><![CDATA[Activism]]></category>
		<category><![CDATA[Nomura]]></category>

		<guid isPermaLink="false">http://ftalphaville.ft.com/?p=1510342</guid>
		<description><![CDATA[<p>Maybe.</p>
<p>Nomura carries out an annual survey on individual investors&#8217; voting intentions and this year&#8217;s results suggest 43.8 per cent of respondents plan to exercise their rights &#8212; a a 5.1 percentage point jump from 2012. That compares with a record activism reading of 45.1 per cent in 2010, but it&#8217;s also worth noting that those investors saying they would not use their voting rights dropped from 30.6 per cent to 25.8 per cent. So engagement is clearly on the rise.</p>
<p>What are they likely to vote on? Directors pay, of course (34.5 per cent) &#8211; and retirement bungs (37 per cent).</p><a href="http://ftalphaville.ft.com/2013/05/21/1510342/a-fresh-spike-in-shareholder-activism/" class="more-link">Continue reading: A fresh spike in shareholder activism?</a>]]></description>
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