Sunder’s List: The Robots are Here

Roundup: S&P +0.21%, Dow +0.36%, Nasdaq +0.33%, Gold $1287.40, London +0.41%, Germany +0.21%, France +0.19%. At pixel: Nikkei +0.05%, Hang Seng +1.93%

SEBI plans to announce stringent rules that will make it incumbent upon companies to make disclosures relating to fraud, litigation against senior executives and their financial implications. (ET, #SEBI)

Global gold demand fell to a four-year low in the third quarter. “Technically, the bull run is over because we are going to have a down year for the first time in 13 years.” (FT, #gold) [stockquote]GOLDBEES[/stockquote]

ABG Shipyard, the Indian group, has told shareholders that “problems” servicing its loans in a timely manner have led it to seek a debt restructuring agreement with its lenders. (FT) [stockquote]ABGSHIP[/stockquote]

Canada’s financial services firms are under pressure to create more jobs in the country amid rising unemployment rates and may have to wait till at least the middle of 2014 before farming out work to Indian software services providers. Canada’s banks and financial services firms outsource software and services contracts worth $10 billion a year. (LiveMint, Software Sector)

Corporate results have been better than expected, but analysts say it may take 2-3 quarters to build confidence. (LiveMint, #economy)

Worldwide annual shipments of industrial robots have more than doubled in the past decade. South Korea is experimenting with robotic prison wardens that patrol and report inmates who do something wrong; Japanese restaurants are deploying fast-food robots to make and serve sushi. Meanwhile, lower-level tasks are now being automated by software programs. Automation and other productivity improvements are expected to have eliminated 2.2 million business-services jobs in the United States and Europe from 2006 to 2016, at a rate of about 200,000 jobs annually. (Politico)

Good luck!


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