Saturday, November 30, 2013

MoneyScience News

MoneyScience News


Blog Post: iMFdirect: Back to Asia

Posted: 29 Nov 2013 08:28 AM PST

By Christine Lagarderead more...

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Published / Preprint: Growth Opportunities, Technology Shocks, and Asset Prices

Posted: 29 Nov 2013 06:10 AM PST

We explore the impact of investment-specific technology (IST) shocks on the cross-section of stock returns. Using a structural model, we show that IST shocks have a differential effect on the value of assets in place and the value of growth opportunities. This differential sensitivity to IST shocks has two main implications. First, firm risk premia depend on the contribution of growth...

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Blog Post: TheFinancialServicesClub: Black Friday means Billions

Posted: 29 Nov 2013 02:42 AM PST

There are two Americanisms that are slipping into common lingo over here these days: Black Friday and Cyber Monday.read more...

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Blog Post: TheAlephBlog: Two More Good Questions

Posted: 29 Nov 2013 12:49 AM PST

I had two more good questions in response to my piece Why I Resist Trends.  Here we go:read more...

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Blog Post: WealthandCapitalMarketsBlog: Issues with Fund performance in India

Posted: 28 Nov 2013 09:36 PM PST

The Indian mutual fund industry has a very high number of schemes which has been another cause for concern for regulators. In 2012-13 there were a total of 1,294 schemes, while there were only 403 of them in 2004. A high number of schemes make the job of choosing a suitable scheme for retail investors difficult.  However, offering new schemes has been a marketing tool for many AMCs, and an...

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Vikas Shah interviews Daniel Kahneman

Posted: 28 Nov 2013 12:01 PM PST

read more...

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Women's Views on News

Women's Views on News


Modern slavery in the UK

Posted: 29 Nov 2013 08:21 AM PST

modern slavery in the UKOur anti-trafficking response is failing victims.

Calls are being made for a victim-centred approach in the UK’s anti-trafficking response after three women have allegedly lived unnoticed as slaves in London for a 30-year period.

The UK has been shocked and shaken by this story of three women who have allegedly been kept as slaves in a house in London for over thirty years.

A Malaysian woman aged 69, an Irish woman aged 57 and a British woman aged 30, believed to have been born in the house in question, were rescued after having been held apparently against their will by a couple for three decades.

Reports so far say that Freedom – a charity set up to fight child abuse – helped rescue the women after one of them saw an advertisement for the charity on television and managed to make calls asking for help, starting a week-long operation involving the charity and the police.

Following a number of telephone conversations the women were able to leave the property when the owners of the house were not around. A man aged 73 and a woman aged 67 have been arrested and bailed until January 2013.

Detective Inspector Kevin Hyland from the Metropolitan Police’s Human Trafficking Unit said the police had never seen anything of this magnitude before.

These women appear to have been held in an ordinary house in an ordinary street by seemingly ordinary people for over thirty years.

While this case is particularly unusual because of the length of time, speculation is that cases of this nature are not as uncommon in the UK as one might think.

The best official figures come from the UK Human Trafficking Centre, now part of the National Crime Agency (NCA).

According to their report, Strategic Assessment on Human Trafficking in 2012, 2255 potential victims of human trafficking were encountered in 2012, representing an increase of 9 per cent on to those reported in 2011.

In 1991 there were 391 potential victims so this crime is most definitely on the increase.

Sexual exploitation and labour exploitation were the two most prevalent exploitation types reported in 2012 at 35 per cent and 23 per cent of cases respectively.

According to the report, the ten ‘most prevalent’ countries of origin for victims of trafficking are Romania, Poland, Nigeria, Vietnam, Hungary, Albania, Slovakia, Lithuania the Philippines – and the UK.

The report also outlines some of the experiences described by victims of traffickers.

‘Some potential victims of all forms of exploitation reported being locked into the premises in which they were exploited.

‘Others had their movement restricted through surveillance by traffickers.

‘Threats were reported, in which potential victims were told that if they left their exploitative situations, they or their families would be harmed.’

So not only does it happen, but the UK’s Anti-Trafficking Monitoring Group (ATMG) accuses officials of taking a confrontational stance in the treatment of victims of trafficking, too frequently treating them as immigrant cases rather than potential victims of a crime.

Established in 2009, ATMG works to promote a victim-centred human-rights based approach to protecting the well-being and best interests of trafficked people.

It also undertakes analytical and evaluative monitoring of the implementation of the Europe Convention on Action Against Trafficking in Human Beings 2005, in an attempt to improve the overall effectiveness of the UK’s anti-trafficking policy.

In its latest report, Hidden in Plain Sight, ATMG says that the UK’s response is failing victims of human trafficking.

This report has analysed the UK’s response to trafficking four years on from the Council of Europe’s anti-trafficking convention coming into force.

The report describes how the focus on the immigration status of people who are potential victims of trafficking discriminates against people from outside the EU and that the National Referral Mechanism system – a process set up by the government to identify and support victims of trafficking in the UK – fails to systematically identify, assist and protect victims of trafficking.

An analysis of cases of suspected trafficking dealt with by UK authorities in 2012 found that more than 80 per cent of the UK and EU nationals dealt with by the UK’s Human Trafficking Centre were found to have been trafficked and received the necessary protection.

However, fewer than 20 per cent of cases passed on to what was then called the UK Border Agency (UKBA) (now called ‘UK Visas and Immigration’), which processes people from elsewhere, had their cases accepted.

And there is still no formal appeal procedure.

A proposed new modern day slavery bill has the chance to rectify the situation.

It is expected the bill will propose tougher sentences for traffickers including the introduction of a maximum life sentence, set up an ‘anti-slavery commissioner’ post and one single act combining the offences of trafficking and trafficking prevention orders.

The report also highlighted how victims do not trust criminal justice officials.

And alarmingly, the proposed anti-slavery bill fails to incorporate a victim-protection system. Without a more victim-centred approach, it is hard to see how the system will gain the trust of victims.

Klara Skrivankova, Anti-Slavery International’s Trafficking Programme Co-ordinator, said: ‘Unless a comprehensive anti-slavery bill is introduced that puts assistance to trafficked persons on a statutory footing, the value of such law will be minimal.

‘Internationally, it has long been recognised that an effective anti-trafficking instrument must contain provisions for victim protection in addition of criminal offences of trafficking.’

Before the headlines involving the case of the three women allegedly held against their will for three decades in a house in Lambeth, we may not have considered slavery as an issue we in the UK needed to be concerned with. But with attitudes like this we may be missing vital signs.

How many people missed clues or failed to report signs that those three women were being held against their will because slavery is something we did not consider happened here in the UK?

There will have been clues, there will have been signs – over a thirty-year period there has to have been things that people ignored or turned a blind eye to.

Without education and the inclusion of a victim-centered approach victims of trafficking, victims of slavery will continue to suffer in silence.

As President Barack Obama remarked to the Clinton Global Initiative on 25 September 2012: 'It ought to concern every person, because it is a debasement of our common humanity.

‘It ought to concern every community, because it tears at our social fabric.

‘It ought to concern every business, because it distorts markets. It ought to concern every nation, because it endangers public health and fuels violence and organised crime.

‘I'm talking about the injustice, the outrage, of human trafficking, which must be called by its true name – modern slavery.'

You can add your voice to the call for increased victim protection in the new modern day slavery legislation by visiting the Anti-Slavery website, by clicking here.

Sir Patrick Stewart fights domestic violence

Posted: 29 Nov 2013 07:20 AM PST

Sir Patrick Stewart, feminism,…and Gives Out Hugs, and Flies a Spaceship.

Our regular cross-post from Bitchflicks.

By Rachel Redfern.

At a spry 78 years old, Sir Patrick Stewart is just as popular as he was 25 years ago in ‘Star Trek: The Next Generation’, perhaps even more so now as his persona has popped from talented dramatic actor to powerful women's rights activist, and an almost mythic status as an all-around amazing human being.

And part of that love and general good feeling toward Sir Stewart is his vulnerable and very personal campaign to end domestic violence, support battered women, and fight for women's rights.

In a world filled with Alec Baldwins, Todd Akins, and Hunter Moores, perhaps we just expect old white men to be entitled and offensive.

Similarly, in a world filled with Katy Perrys and Taylor Swifts who insist on denying the need for feminism (how nice for them as wealthy, successful white women) and insisting that they are NOT feminists, it is inspiring to see a man willing to not only own the label, but wear it.

And really, it seems mind-boggling that Sir Stewart is seen as an original, groundbreaking human being when in reality he's fighting for basic human rights. Why is saying, "Stop Hitting Women" such a unique perspective for a male public figure?

But considering the overwhelming response pretty much every time he steps in front of a camera, millions of people are connecting with him in a profound way. It must come from his willingness to share the painful and intimate details of his own past with domestic violence on a global scale, then turn around, listen to someone else's story, and respond with empathy and sincere compassion. It probably helps that he does all that in a brilliant English accent and fantastic deep, rich voice—that man could read my stereo instructions and I'd breathlessly wait for a plot twist.

And his interest in women's causes isn't just a cause-of-the-day as, let's be honest, most celebrity causes are only to foster a positive public image and distract from that time they hit a pedestrian while doing 90 MPH in their Porsche. As an obviously huge participant in sci-fi conventions where there is a lot of fan interaction, fans are constantly reporting that he is just as committed to spreading awareness when there's a line of 300 Deanna Trois and William Rikers waiting to get his autograph as when there's a microphone and a camera in his face.

One blogger tells of the time she got to ask him a question about his fight against domestic violence at an Austin Comic Con convention panel and he was great; then she asked him a similar question when she was standing in line to talk to him and he made a special point of spending extra time with her, discussing resources she might be personally interested in.

Sir Stewart's involvement with Amnesty International has also led him to be the face of a very public campaign, posting his own and his mother's experiences of domestic abuse at the hands of his father. And on top of that, adding his public criticism of the police's handling of that situation; at that point, when his mother tried to report what was happening the police would respond, "Well, you must have done something to make him mad." Or doctors would assert, "Mrs. Stewart it takes two to make a fight."

The above stories highlight victim blaming at its finest; an unfortunate, but still daily experience for many women who report sexual assault, stalking, abuse, violence, and even the spread of intimate photos online. But I love that while Stewart is harshly critical of such terrible tactics, he's also a huge proponent of increasing expectations for men and young boys. People are people, some are good and some are bad, but when the expectation is not, "How could you let him do this to you?" but rather, "How could you treat a fellow human being this way?" victims are treated respectfully and the default condition is "Real people don't treat other people this way."

And in a society where male revelations about abuse, physical, emotional, or sexual, are still considered a mark of weakness, it's fantastic that such a successful figure is willing to set an example. Especially when that person is Captain Jean Luc Picard, a super smart, sexy, sensitive, nerves-of-steel spaceship captain. I have a feminist daydream of [Star Trek's] Kirk (Shatner), Janeway (Mulgrew), Sisco (Brooks), and Picard (Stewart) doing a women's rights PSA: I would make it my ringtone forever.

And while we wish that things were better for women (and they sort of are), when the response to Rihanna's own experience is for Chris Brown to get a tattoo of a battered woman on his neck and then sing at the 2013 VMAs, there's still a long way to go. (Feminist fantasy number two where Stewart eloquently destroys Brown, shaming him so publicly that banks will freeze his bank accounts, give the money to a battered women's shelter, and Brown won't be able to find work as a birthday party entertainer in Wyoming.)

The truth of all this is that as much as we love Stewart the actor, we desperately need Stewart the activist as a substantial male proponent of feminism. As with any movement, people need leaders that they can identify with, and as dynamic as Gloria Steinem is, she might not always be the most relatable face for men who are interested in women's rights.

Sir Patrick Stewart, we salute you (while possibly wearing a Starfleet uniform).

New Brit comedy shows “women as they really are”

Posted: 29 Nov 2013 03:02 AM PST

MJ Delaney’s film is a frank portrayal of female friendship.

Writer Rachel Hirons, and director MJ Delaney, describe ‘Powder Room’an all British and all female production –  "an antidote to all those types of films that don't pass the Bechdel test".

ruby's own pictureThe Bechdel test gauges the active presence of well-rounded female characters in Hollywood films by asking whether they feature at least two prominent women characters shown talking to each other about something other than a man.

Powder Room, which is due for release on December 6, passes with flying colours.

The film follows Sam (Sheridan Smith) as her life unravels on a night out, telling her story in a series of vignettes that show conversations held in a nightclub toilet.

In an interview for Screen Daily, Hirons explained that the story was inspired by a night out during which she overheard a candid conversation between two women in a toilet cubicle.

"During their conversation my faith in women – which had recently been shaken by a friend who claimed that women don't dress for men but for other women as a form of competition – was restored.

"It made me want to show women as they really are, in an unedited form. There is something beautiful in portraying the truth."

Powder Room is the directorial debut of Delaney, a 25 year-old who gained an internet following through viral videos such as 'Newport State of Mind'.

In a recent question and answer session Delany said that she was attracted to Hiron's original stageplay primarily due to its 'truthful and honest' portrayal of female friendships.

In a live question and answer session, actress Jaime Winstone said of her character Chanel: "It’s nice to see a young girl who is confident and sexual without being portrayed badly."

As well as being written and directed by women, the cast of Powder Room represents a powerhouse of young female acting talent.

Winstone and Smith are joined by experienced actresses Oona Chaplin and Riann Steele, while Kate Nash's appearance marks the singer's third feature film.

Meanwhile the music for the film was curated by the all-female, five-piece rock band 'Fake Club'.

Discussing the effects of social media on young women – an issue that Powder Room addresses, Smith said: "All girls have insecurities and fears.

"I look on Facebook and see that all my friends from school have got kids and I'm like 'Wow – that's amazing! You've brought kids into the world…and I'm just pretending to be other people!'"

Delaney concurred, saying that she wanted Powder Room to tackle "the challenge of this whole new aspect of our lives online"; while we are constantly bombarded by "Instagram feeds of the perfect existence", nobody is as happy as they portray themselves to be.

Powder Room will be released on 6 December.

Sex in the UK

Posted: 29 Nov 2013 01:09 AM PST

natsal report on sexual behaviour in uk"The change in women's behaviour across the three surveys has been remarkable."

Sexual behaviour and attitudes in Britain have changed in recent decades, according to results published in The Lancet as part of the third National Survey of Sexual Attitudes and Lifestyles (Natsal).

Data from three Natsal studies, taken from surveys carried out every ten years, demonstrate changes in age at first sex, number of sexual partners, and prevalence of sexual practices, as well as attitudes towards sex.

Researchers from University College London (UCL), the London School of Hygiene and Tropical Medicine, and NatCen Social Research interviewed 15,162 people aged 16-74 resident in Britain during 2010-2012.

The survey was originally carried out in 1990-1991 and then again in 1999-2001, but only amongst people aged 16-44 years. This time round, for the first time, the survey has recorded behaviour patterns and attitudes in those up to age 74.

Among the 16-to-24-year-old age group, this latest survey found that 31 per cent of men and 29 per cent of women now have first sex before age 16, which is not significantly different from the figures from the 1999-2001 survey, and so is still a minority.

The latest survey also showed that people continue to have sex into later life, with 42 per cent of women and 60 per cent of men aged 65-74 years reporting having had at least one opposite-sex sexual partner in the previous year, although the range and frequency of sex reduced with age.

According to lead author Dr Cath Mercer, from UCL: "Young people today have sex at an earlier age than previous generations did.

"However, as men and women are living longer, have healthier lives, and continue to have active sex lives well beyond their reproductive years, we need to view sexual health and well-being as an issue of lifelong importance.”

Frequency of sex has fallen over the past decade to just under five times a month for both sexes – a mean average of 4.9 for men and 4.8 for women – amongst those aged 16-44 years, from means of 6.2 and 6.3, respectively, in the previous survey.

This is explained in part by demographic change with fewer people in the population married or cohabiting and so having less opportunity to have sex, although even among people who live with their partner sexual frequency has declined.

Overall, a similar proportion of women (96 per cent) and men (95 per cent) reported ever having had at least one opposite-sex partner.

In the age group 16-44 years, the average number of partners over a woman's lifetime has more than doubled since the 1990-91 survey, from a mean average of 3.7 in 1990-91 to 7.7 in the latest survey.

In men, this figure has increased from 8.6 to 11.7.

While the number of men reporting having same-sex partners has changed little, from 3.6 per cent in the first study to 4.8 per cent this time around, for women the figure has increased four-fold, from 1.8 per cent to 7.9 per cent.

The number of people reporting heterosexual oral sex in the past year remained constant from the previous survey (1999-2001), at just over three-quarters of men and women aged 16-44 (77 per cent and 75 per cent respectively).

However, there has been an increase in the minority of people reporting anal sex in the past year, up from 12 per cent to 17 per cent for men, and from 11 per cent to 15 per cent for women.

Reporting of two or more partners in the past year and no condom use during this time – a measure of unsafe sex – was less frequent among men in this survey than in the previous survey, down from 14 per cent to 11 per cent.

One of the leaders of the study, Professor Kaye Wellings, of the London School of Hygiene and Tropical Medicine, said: "The change in women's behaviour across the three surveys has been remarkable.

"In some areas of sexual behaviour we have seen a narrowing of the gender gap, but in others we have seen women overtaking men in the diversity of their behaviour.

"These trends need to be seen against the backdrop of the profound changes in the position of women in society, the norms governing their lifestyles, and media representations of female sexuality."

The survey has also illustrated changing attitudes in those aged 16-44 years over the past two decades.

In 1990-91, fewer than one in four men thought same-sex partnerships were 'not wrong at all' (22 per cent for male same-sex partnerships and 24 per cent for female), the figure is now approximately half (48 per cent and 52 per cent respectively).

In women, the increase has been even greater, from fewer than one in three women in 1990-91 (28 per cent for male same-sex partnerships and 28 per cent for female) to two in three women today (66 per cent and 66 pre cent, respectively).

By contrast, there is now greater disapproval of non-exclusivity in marriage amongst both men (increasing from 45 per cent to 63 per cent) and women (from 53 per cent to 70 per cent).

One in five men (20 per cent) now see nothing wrong in 'one-night stands', the same proportion as in 1990-91, but the number of women holding this view has increased from 5.4 per cent to 13 per cent over the same period.

Natsal's Principal Investigator Professor Dame Anne Johnson, of UCL, said: "We tend to think that these days we live in an increasingly sexually liberal society, but the truth is far more complex.

"The context in which we have sex, and the variability of sexual lifestyles we have, continues to change, and whilst we think of sex as being more widely available, with more explicit TV programmes and films and extended social networks, in fact, as a nation, we are having no more sex nowadays than we did a decade ago."

For more details from this report, especially regarding sexual health, click here.

EPakistanNews.com

EPakistanNews.com

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Thai protesters storm army headquarters

Posted: 29 Nov 2013 08:24 AM PST

World News : Protesters in Thailand stormed into the national army headquarters on Friday, breaking into their latest high-profile target in a bid to topple Prime Minister Yingluck Shinawatra. The...

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Increase in Medicine price is unacceptable – PM Nawaz

Posted: 28 Nov 2013 10:24 PM PST

Pakistan News : PM Nawaz Sharif took the notice of up to 15 percent increase in medicines prices and orders to revive the old rates. The federal ministry of health issued a notification according to...

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