Here’s Why Tesla Motors Is Named For A Famous Serbian Inventor

Here’s Why Tesla Motors Is Named For A Famous Serbian Inventor

ALEX DAVIES AUG. 8, 2013, 5:40 PM 2,460 10

By making two remarkable electric cars and becoming the first new American auto company to turn a profit in decades, Tesla Motors has made itself into a household name. But why did founders Martin Eberhard and Marc Tarpenning (CEO Elon Musk joined the company soon after it was incorporated) choose the name Tesla? It’s an homage to Nikola Tesla (1856-1943), the Serbian inventor and engineer who created the induction motor and alternating-current (AC) power transmission. According to an old post on the automaker’s website (archived here): Without Tesla‘s vision and brilliance, our car wouldn’t be possible. We’re confident that if he were alive today, Nikola Tesla would look over our 100 percent electric car and nod his head with both understanding and approval. CEO Elon Musk, who was not involved in the founding of the company, has told PBS he counts Thomas Edison, a Tesla rival, as a personal hero, along with Winston Churchill. Musk does have love for Tesla, though, pledging last year to donate to a project to turn the inventor’s old lab into a museum, according to Jalopnik. An inveterate inventor, Tesla filed more than 700 patents for everything from wireless communication to fluorescent lighting. Some of his ideas never came to fruition, including a “death-beam.” In July 1934, he told the New York Times he had invented a way to “send concentrated beams of particles through the free air,” powerful enough to bring down 10,000 planes from 250 miles away, or kill millions of soldiers. All in all, Tesla was a very cool dude. He hung out with Albert Einstein when they and other scientists took a tour of a wireless station in New Jersey, in 1921: There’s a plaque there to honor him:

screen shot 2013-08-08 at 2.59.40 pm nikola-tesla-plaque

Elon Musk And Richard Branson Give Their Best Advice To Entrepreneurs

Elon Musk And Richard Branson Give Their Best Advice To Entrepreneurs


Tesla CEO Elon Musk and Virgin Chairman Sir Richard Branson, two of the tech world’s most lauded entrepreneurs, just gave their best advice on how to start a company during a Google + hangout this afternoon. It was sponsored jointly by Google for Entrepreneurs, the company’s set of programs and tools to support startups, and Virgin’s not for profit foundation Virgin Unite. Here are some of the most interesting tips and exchanges.

Their core advice for entrepreneurs

Branson: “If you’ve got a great idea that would improve people’s lives, just do it.”

Musk: “You want to be extra rigorous about making best possible thing you can, find everything that’s wrong with it and fix it. Seek negative feedback, particularly from friends”

Elon-Musk-Entrepreneur-Picture-Quote-For-Successquote_yourself-17292just-do-itimages (34)Richard-Branson-Entrepreneur-Picture-Quote-For-Success

Read more of this post

Michael Hayman, co-founder of StartUp Britain, draws inspiration from six innovators who show what entrepreneurs can achieve

Meet the innovators changing our world

Michael Hayman, co-founder of StartUp Britain, draws inspiration from six remarkable people who show what entrepreneurs can achieve .

By Michael Hayman

6:00AM BST 07 Aug 2013


“The people who are crazy enough to think they can change the world, are the ones who do.” That was the clarion call of the campaign that relaunched one of the 21st century’s best-loved brands: Think Different was the defining moment for Apple and Steve Jobs. It saved a corporation and, for me, captured the essence of the entrepreneur. It can be hard to define the attributes of an entrepreneur, but you certainly know when you’ve met one. They are an impatient tribe who constantly challenge the status quo – fuelled by a driving intensity to invent or invest, to build or conquer. To get the job done. If you work for an entrepreneur, you might very well see them in extremes, perhaps as a saviour, perhaps a sociopath, very possibly both. One thing is for sure: they are far from ordinary. Steve Jobs caught the swashbuckling characteristics of the breed perfectly when he said: “It’s better to be a pirate than join the navy.” And in these turbulent times, where technology and trade make for a combustible mix, those who have hoisted the Jolly Roger rather than opting for corporate conformity are winning the battle of ideas. You don’t have to look far to find the evidence that entrepreneurs are building the titans of tomorrow. It is estimated that two thirds of the companies that will make up the S&P 500 in 10 years’ time haven’t even been created yet. Or take the Fortune 500 – almost 87pc of the companies that made up the original list in 1955 no longer feature. The lifespan of a S&P 500 company has declined from 67 years in the 1920s to just 15 years today. And it is entrepreneurs who are filling the void. As Carl Schramm, former president and chief executive of the Kauffman Foundation points out, big business has not created one net job in the US during the past 40 years. Not one. For the last four years, I have enjoyed an unparalleled vantage point from which to observe the influence entrepreneurs have on our everyday lives. The firm I co-founded, Seven Hills, is one of the fastest growing in its sector; I helped to create StartUp Britain, the national campaign for early-stage businesses; and I’ve been behind two of the biggest festivals for entrepreneurs in the UK – MADE and Accelerate. My work gives me the chance to meet some of the most exciting and innovative founders in the world. Here are six of them who have most inspired me over the past year. One you will almost certainly have heard of, the rest quite possibly not. They do not cover every sector or innovation that is changing how people across the world live and work. But they each illustrate how entrepreneurship is making a difference, and why it matters. They are the “crazy ones” who change lives. Read more of this post

In Deal Hunt, Big-Game Buffett Settles for Small Prey; Berkshire Hathaway Boss Trains His ‘Elephant Gun’ on Junior-Sized Targets With Larger Ones Scarce

Updated August 8, 2013, 4:38 p.m. ET

In Deal Hunt, Big-Game Buffett Settles for Small Prey

Berkshire Hathaway Boss Trains His ‘Elephant Gun’ on Junior-Sized Targets With Larger Ones Scarce



Warren Buffett hasn’t fired his “elephant gun” much recently, but he has put his managers on the hunt for smaller prey. Berkshire Hathaway Inc.’s BRKB +0.72% subsidiary operations collectively spent about $2.3 billion on 26 acquisitions last year, which the company says is a record amount. They have continued that streak this year, acquiring more than a dozen companies in the first half of 2013. Berkshire hasn’t disclosed the amount spent by its subsidiaries on acquisitions this year. With bigger, multibillion-dollar deals few and far between of late, Mr. Buffett increasingly favors such “bolt-on” acquisitions because they increase Berkshire’s earnings and enable it to use its cash pile, which stood at $36 billion at the end of June. Net cash flow from operations rose nearly 36% for the first six months of 2013 from a year earlier, putting greater pressure on Berkshire to use its cash rather than hoard it. In a telephone interview, the Omaha, Neb.-based billionaire investor said he expected these types of deals to be frequent and numerous. “I like the managers finding opportunities,” Mr. Buffett said. Read more of this post

Bill Gross’ Strategy for Combating Rising Rates; The Pimco chief explains how to alter a bond portfolio for a new set of circumstances


Bill Gross’ Strategy for Combating Rising Rates


The Pimco chief explains how to alter a bond portfolio for a new set of circumstances.

Adaptation is tantamount to survival in the physical world. So argued Darwin, at least, and I am not one to argue with most science and its interpretation of natural laws. Adaptation has been critical as well for the survival of countries during wartime, incidents of which I am drawn to like a bear to honey, especially when they concern WWI. Stick with me for a few paragraphs on this – the following is not likely to be boring and almost certainly should be instructive. In the first decade of the 20th century, British war colleges and their generals were philosophically trapped by the successful strategies of a prior era – an era before the invention of a functional machine gun. They felt that machine guns might dampen the spirit of their fighting forces. What counted was the horse and the sword. Britain’s cavalry training manual of 1907 in fact stated that “the rifle or machine gun, effective as it is, cannot replace the devastation produced by the speed of the horse, the magnetism of the charge, and the terror of cold steel.” Read more of this post

Bill Gates on His Foundation’s Health and Education Campaigns

Bill Gates on His Foundation’s Health and Education Campaigns

By Brad Stone on August 08, 2013

You recently tweeted that very rare clip of FDR being pushed in his wheelchair in 1944. Why did you find that to be a powerful image?
Polio eradication is this amazing effort. We’re raising the money to get it done by 2018. When these problems leave the rich world, they’re out of sight, out of mind. And reminding people of what a big problem it was and how amazingly others responded—which is why we have these tools at all—helps people, saying this can be the second disease to be eradicated.

What are the prospects for the eradication of polio and malaria?
Polio is where we have a very concrete plan. It’s raising $5.5 billion—of which the [Bill & Melinda Gates] Foundation is going to give $1.8 billion. If we get credibility from the polio success, we can be more articulate about a malaria or measles elimination plan. The big one would be malaria, but that’s a long-term, in-my-lifetime-type thing, not imminent. Read more of this post

Smashburger CEO Attributes Success To Unorthodox Marketing Strategy; Smashburger focuses heavily on events, such as when it offered a free sandwich to anyone with “burger” or “berger” in their name on National Cheeseburger day

Smashburger CEO Attributes Success To Unorthodox Marketing Strategy

MICHAEL THRASHER AUG. 8, 2013, 5:53 PM 1,429

Smashburger has opened more than 200 restaurants in the past seven years.  Founder Tom Ryan told Nation’s Restaurant News the fast-casual chain’s success can be attributed to an unconventional marketing philosophy that relies heavily on social media and old-fashioned word of mouth. Ryan said the chain still uses some radio and television advertising. But Smashburger focuses heavily on events, such as when it offered a free sandwich to anyone with “burger” or “berger” in their name on National Cheeseburger day, he said. Ryan said these events become a topic of conversation for bloggers and social media. “From the beginning, we wanted Smashburger to be a defining brand for the next generation, and the marketing mix for how you engage them is different than for how you engaged the last generation,” Ryan said.


LKY: Mao Promoted Perpetual Struggle; Deng Saved China from Chaos

Mao Promoted Perpetual Struggle; Deng Saved China from Chaos

by Lee Kuan Yew | Aug 8, 2013

Mao’s successor drew lessons from Singapore’s economic development


On October 1, 1949, at the Gate of Heavenly Peace in Beijing, Mao Zedong, leader of the Communist Revolution, declared the founding of the modern People’s Republic of China. Mao was an idealist who strove for constant class struggle as a way to keep the Chinese from becoming bourgeois. At the height of the Cultural Revolution, in 1967-69, schools and universities were closed, and children were encouraged to hit and rebel against their parents. Mao was, of course, a famous leader and liberator, but he was less practical when it came to governing the country.

More practical was Deng Xiaoping, who quietly took control after Mao’s death, calmed the country and concentrated on its economic development. Were it not for him, China might well have broken apart. Read more of this post

The Nudge Debate: Considering how mentally lazy most of us are, a little soft paternalism that forces us to choose what’s good for us is probably just what we all need

August 8, 2013

The Nudge Debate


This has been a great era for the study of error. We know that people can be induced to buy more cans of soup if you put a “Limit: 12 per customer” sign on the display. We know that if you ask people what movie they want to see next week, they’re likely to mention a classy art film. But, if you ask them what movie they want to see tonight, they’re more likely to mention a mindless blockbuster. In addition, people are pretty bad at sacrificing short-term pleasure for long-term benefit. We’re bad at calculating risk. We’re mentally lazy. We make decision-making errors when thinking in our own language that we don’t make when thinking in another language. When asked to think in a second language, we’re forced to put in a little more mental effort. Read more of this post

Events for Weekend Warriors Become a Gold Mine; Forget Silicon Valley—In the Latest Startup Craze, Fortune Is Being Spun from a Sport of the Cave Man

August 8, 2013, 8:14 p.m. ET

Events for Weekend Warriors Become a Gold Mine

Forget Silicon Valley—In the Latest Startup Craze, Fortune Is Being Spun from a Sport of the Cave Man


The foot race isn’t new. Cave men probably invented it. But suddenly it’s gushing wealth for entrepreneurs, big companies and private-equity firms. The weekend-warrior market is a gold mine, and tapping into it doesn’t require Silicon Valley-style geek credentials or venture capital. Nor must a sports-business career begin anymore in the mail room of a sports network or big-league franchise. Joe Reynolds was 27 when he launched Red Frog Events, a Chicago-based producer of adventure races. In 2012, its sixth year, Red Frog posted revenue exceeding $50 million, prompting Inc. magazine to call it the nation’s ninth-fastest growing company. It can’t add races fast enough to satisfy demand for its $60-and-up slots. Read more of this post

UPS’s Scott Davis on Shipping Sharks, Work Rules, and the Post Office

UPS’s Scott Davis on Shipping Sharks, Work Rules, and the Post Office

By Devin Leonard on August 08, 2013

Have you shipped live sharks?
Yeah. We probably ship a little bit of everything, whales, you name it. We’ve got to be able to handle any precious commodity, and health care is obviously the area we’re moving into. So while we’re doing sharks and lobsters and whales, at the same time people are waiting on the operating table for some things that we’ve got to get to them.

Isn’t that dangerous, shipping live sharks?
It can be. You’ve got to have experts help you.

How do you ship a live whale?
It’s a big container. Read more of this post

Family businesses with succession plans in place are more likely to achieve a better credit rating and as such able to borrow easier than those with no plan



Family businesses with succession plans in place are more likely to achieve a better credit rating and as such able to borrow easier than those with no plan, according to report from the ratings agency Standard & Poor’s. The report said that family businesses were susceptible to so-called “key man” syndrome, whereby a dominant family figure is associated with the success of the business. But Trevor Pritchard, managing director of corporate ratings at S&P said that this risk can be mitigated by a family business having a clear succession plan in place and this would give help to reassure the ratings agency that the business wasn’t too reliant on one individual. Read more of this post

Investor Loses It Over Adulation And Sympathy For ‘Newspaper Families’ Like The Grahams — This Is A Story Of Incompetence!

Investor Loses It Over Adulation And Sympathy For ‘Newspaper Families’ Like The Grahams — This Is A Story Of Incompetence!

HENRY BLODGET AUG. 8, 2013, 8:02 AM 2,691 12


I was minding my own business last night when I got the note below from a respected investor. As you will see, the investor has had it with all the adulation and sympathy being showered on newspaper families like the Grahams, who are being extolled for their decades-long “stewardship” of institutions like the Washington Post and New York Times and pitied for the terrible misfortune they and society have recently endured. In the common telling, the investor observes, the Grahams and other newspaper families are cast as victims of an unforeseeable and horrible trend–the unstoppable rise of an invasive technology that has crippled the newspaper business and threatened a profession that has held society together for decades. The Grahams have done their heroic best, this story goes, but the forces of evil have just been too numerous and overwhelming. Now, finally, the brave and intrepid Grahams have had no choice but to surrender. So the world will now go to the dogs. Read more of this post

Discount Grocery Chain WinCo Touted As ‘Wal-Mart’s Worst Nightmare’ with a business model that allows for cheaper prices

A Discount Grocery Chain Is Being Touted As ‘Wal-Mart’s Worst Nightmare’

ASHLEY LUTZ AUG. 8, 2013, 5:32 PM 5,562 30

A discount grocery chain is being called “Wal-Mart’s worst nightmare.” WinCo, a Western grocery chain with about 100 stores, has a business model that allows for cheaper prices than Wal-Mart, writes Brad Tuttle at Time.  WinCo keeps costs low by buying directly from suppliers and eliminating middlemen, according to Tuttle. It also doesn’t accept credit cards and has customers bag their own groceries. A recent Idaho Statesman article about WinCo quoted retail analyst Burt Flickinger III as saying that WinCo was “unstoppable.” “They’re Wal-Mart’s worst nightmare,” Flickinger said.  Much like Costco, WinCo offers a minimalist selection instead of a wide array of brands according to Time. For instance, WinCo might only carry two brands of toothpaste, while Wal-Mart has more than 40. Unlike Wal-Mart, whose employees have demanded better wages, the company provides health benefits to employees who work 24 hours per week and a pension. WinCo is expanding fast, and could convert Wal-Mart’s customers, according to Time. “Generally speaking, shoppers tolerate Walmart’s empty shelves and subpar customer service because the prices are so good,” Tuttle writes. “The fact that another retailer—even a small regional one—is able to compete and sometimes beat Walmart on prices, while also operating well-organized stores staffed by workers who enjoy their jobs, like their employer, and genuinely want the company to be successful.”

Nestlé Feels Commodity Crunch; Missed Sales Expectations Four Quarters in a Row; Nestlé got a serious lift over the past few years from rising commodity costs. It was able to pass these on, and perhaps a bit more, to consumers

August 8, 2013, 2:39 p.m. ET

Nestlé Feels Commodity Crunch

Sales Expectations Have Been Missed Four Quarters in a Row, and a Couple More May Be Needed to Get Back on Track


Nestlé NESN.VX -2.16% shares are a bit like its sugary treats: After providing a burst of energy, they have left investors in a funk. The Swiss food conglomerate fell short of revenue expectations for the fourth quarter in a row Thursday, when it reported results for the three months through June. Nestlé acknowledged that it will be “a stretch” to achieve 5% organic sales growth this year, meaning it may miss its typical 5%-6% target. That suggests Nestlé got a serious lift over the past few years from rising commodity costs. It was able to pass these on, and perhaps a bit more, to consumers. But prices of many inputs like sugar have declined over the past several months. That leads to competitive pressure that erodes pricing power. As Andrew Wood of Sanford C. Bernstein points out, Nestlé’s second-quarter pricing growth of 0.8% was the lowest in a decade. It is hard to guess when commodity prices will rebound. Emerging-market growth, a big driver of commodity demand, has cooled and may take a couple of years to resume. Read more of this post

Goldman: China might face credit losses of up to 18.6 trillion yuan ($3 trillion), because the speed of its credit expansion has exceeded that seen prior to other credit crises in history

Credit losses may hit $3 trillion, bank says

Updated: 2013-08-09 07:25

By Wang Xiaotian ( China Daily)

Goldman Sachs report warns of shadow banking risk elements

China might face credit losses of up to 18.6 trillion yuan ($3 trillion), because the speed of itscredit expansion has exceeded that seen prior to other credit crises in history, Goldman SachsGroup Inc has warned. In a report dated Aug 5, it said the rapid pace of China’s credit expansion, increasingly sourcedfrom the inherently more risky and less transparent “shadow banking” sector, has become atop concern for global markets. “Our Asian economists and strategists recently published a comprehensive look at this concernand its implications for economic growth and asset performance in China, calculating that anextreme upper-bound for total China credit losses could amount to 18.6 trillion yuan,” the reportsaid. But actual credit losses are likely to be significantly lower than these worst-case figures,emerge gradually and be partially absorbed by bank earnings or other avenues, it added. Read more of this post

China’s Urban Sludge Dilemma: Sinking in Stink; Trucks are dumping sludge on melon fields near Beijing, highlighting a nationwide struggle with waste

08.08.2013 16:12

China’s Urban Sludge Dilemma: Sinking in Stink

Trucks are dumping sludge on melon fields near Beijing, highlighting a nationwide struggle with waste

By staff reporter Cui Zheng and intern reporter Liu Zhiyi

Promptly at noon on March 17, a heavy truck hauling a dark substance and on a dark mission pulled out of the Gaobeidian Wastewater Treatment Plant in eastern Beijing. A wastewater treatment engineer helped a Caixin reporter identify the unusual load, which jiggled in the truck’s bed like gelatin as the driver headed down a bumpy road. The substance was unprocessed sludge – a mucky, smelly and hazardous byproduct of the sewage treatment process. Anything less disgusting coming out of the Gaobeidian plant, the engineer said, would not have jiggled. Gaobeidian is one of the largest wastewater plants in China and the biggest in Beijing, serving the capital’s downtown business district and industrial zones along with about 2.4 million household residents. It handles some 40 percent of Beijing’s wastewater, and has a daily wastewater capacity of about 1 million cubic meters. The plant is one of many built over the past seven years as part of a 500 million yuan, central government push to upgrade wastewater treatment nationwide. The investment has shown some good results: The collective sewage treatment capacity in China’s counties, for example, has risen to more than 70 percent. Read more of this post

Google Glass likely to be priced at US$299: researcher; The device’s display component supplied by Taiwan-based Himax Display will cost between US$30 and US$35 and will account for the biggest share of the total cost in the near term

Google Glass likely to be priced at US$299: researcher



Google’s eyeglass-shaped mobile computing device will likely be priced at an affordable level when it officially goes on sale, a local researcher at the Taipei-based Topology Research Institute said on Wednesday. The Google Glass is expected to carry an initial price tag to consumers of US$299, Topology researcher Jason Tsai told reporters on the sidelines of a local seminar on wearable devices. The device’s display component, which will probably be supplied by Taiwan-based Himax Display, will cost between US$30 and US$35 and will account for the biggest share of the total cost in the near term, he said. Google announced on July 22 that it had agreed to buy a 6.3% stake in Himax Display, which produces liquid crystal on silicon chips and modules used in devices such as the Google Glass, head-up displays and handheld projectors. Read more of this post

Spotify: Eating Google’s Lunch and Loving It; CEO Daniel Ek says music recommendations and discovery are as important as a massive song vault

August 6, 2013, 8:14 p.m. ET

Spotify: Eating Google’s Lunch and Loving It



STOCKHOLM—As music lovers turn to cheap streaming services to access songs, some of the most prominent names in tech are crowding in for a piece of the pie. One of the biggest streaming-music sites, Spotify AB, now boasts 20 million songs and 24 million users, a quarter of whom pay about $10 a month for extra features, such as listening on mobile devices. The Swedish company’s revenue more than doubled to €434.7 million ($576.4 million) in 2012, but its loss widened to €58.7 million. A recent fundraising round valued Spotify at $3 billion, but Daniel Ek, the company’s 30-year-old chief executive and co-founder, doesn’t see bigger as better. He believes that music recommendations and discovery are as important as a massive song vault, and has enlisted 200 human curators to organize music for a new browsing feature. Read more of this post

Priceline Travels Road Back to High Hit in Dotcom Era

Updated August 8, 2013, 10:21 p.m. ET

Priceline Travels Road Back to High Hit in Dotcom Era


It has taken more than 14 years, but PCLN +0.67% is about to complete a round trip. Fueled by a strong second-quarter earnings report, the company’s stock is closing in on its dotcom-era high after a wild ride that took it from nearly $1,000 a share down into the single digits—and back. The catalyst for the most recent leg was a jump in summer travel bookings, which helped the online airline and hotel reservation service post a 24% increase in profit to $437 million on Thursday. Revenue jumped 27% to $1.68 billion. Bookings surged 38% in the second quarter, driven by strong demand in Asia and resilient spending in Europe. The performance sent shares toward their all-time high. In after-hours trading, Priceline rose 5.4% to $984.04. The stock, which has climbed 50% since the start of the year, hit $990 in 1999, then fell below $10 after the Internet bubble burst. Read more of this post

Why Health Care for All is Still a Joke in India

Why Health Care for All is Still a Joke in India

by Seema Singh | Aug 9, 2013

IMS Health, which provides information and services for health care, unveiled India’s first physician-chemist census in order to fill gaps in the health care value chain. The census covered 120 cities, 3.73 lakh doctors and 99,000 chemists. We list some key findings that point towards the skewed reach of medical care and decode what the numbers mean.



China’s crazy love affair with steel is a scary example of how its finances could implode

China’s crazy love affair with steel is a scary example of how its finances could implode

By Gwynn Guilford @sinoceros 10 hours ago

So maybe China’s not collapsing—in fact, it might be stabilizing. At least, that’s what China’s unexpectedly strong July trade data hints. Exports rose 5.1% year-on-year in July, more than analysts expected. Imports, though, were the real shocker, surging 10.9%, to hit $168 billion. But wait—what exactly was China importing so furiously in July? Heaps of iron ore, it seems. Imports of the metal leapt to a record 73.1 million tonnes (80.5 million tons), up 26.7% on the previous year. That’s more than it imported during the many months of the infrastructure bonanza between 2009 and 2012, when the government pumped $11.2 trillion into the economy: Some think this means the economy is stabilizing; “steel demand is quite strong” (paywall), Maquarie analyst Graeme Train said. But it’s weird, because China’s businesses really don’t need new steel. It’s so hard to find buyers that steel mills are now storing 225,000 tonnes of steel, up 1.8% from last year. By one estimate the industry has a fifth more production capacity than it needs. And of China’s major steel mills, 40 out of 86 operated at a loss in H1 2013. Read more of this post

IBM and others facing the cloudy business of accounting for the cloud

IBM and others facing the cloudy business of accounting for the cloud

By Michal Lev-Ram, writer August 8, 2013: 11:00 AM ET

More questions than answers have been raised about methods used to account for software-as-a-service products.

FORTUNE — Last week’s disclosure that the Securities and Exchange Commission is conducting an investigation into how IBM reports its cloud computing revenue poses more questions than answers. The New York-based tech giant admitted it has been cooperating with the SEC since last May but said little else about the particulars of the case. One thing is clear: It’s likely this won’t be the last probe into the often inconsistent methods used to account for software-as-a-service products. Read more of this post

EBay’s John Donahoe on E-Commerce and Mobile Payments’ Future

EBay’s John Donahoe on E-Commerce and Mobile Payments’ Future

By Brad Stone on August 08, 2013

What’s the next set of goals, beyond returning to growth?
In the eyes of the consumer, e-commerce and retail are now one. It’s just shopping, right? And that’s why you see us taking steps to get more involved in the full commerce environment. An example would be EBay (EBAY) doing one-hour delivery. You buy online, but you get it delivered to you from an offline store. Another example would be PayPal being accepted by offline merchants. Read more of this post

In Export Boom, U.S. Cities Sell to the World

In Export Boom, U.S. Cities Sell to the World

By Dorothy Gambrell on August 08, 2013

U.S. exports in June increased to an all-time high. While most of the big coastal cities did well, metropolitan areas on the Gulf stand out for their thriving oil and gas business.



Kiwi IT-millionaire Tim Williams was the first foreigner to list a company ValueCommerce on the Japanese stock exchange

Tim Williams: Japan’s Internet Pioneer

By Skye Wishart, July 22, 2013 @ 11 am

Kiwi IT-millionaire Tim Williams was the first foreigner to list a company on the Japanese stock exchange – a wild ride that taught him business and gave him a lifelong bent to jump into an unfamiliar industry. We interviewed him in the lead up to his role as a judge in the New Zealand International Business Awards 2013. Twenty-three-year old molecular geneticist Tim Williams’ plan was not to jump into IT, but to study Chinese medicine in Beijing – and strike it rich by engineering the raw components. But on the way over there, a stop-off in Japan foiled his plans – he loved the culture and stayed, teaching English for a couple of years. That is, until he met fellow Kiwi Jonathan Hendriksen, and together they decided to start a business in internet hosting. Back in 1996, the Internet was still quiet in Japan, and the boys set up the first domestic rental server company in the country. Read more of this post

Finalists of 2013 NZ International Business Awards


A revolutionary diabetes detection system and a digital DJ software platform are among the unique range of solutions produced by the 29 finalists in this year’s 2013 New Zealand International Business Awards. Celebrating the passion, vision and new approaches that New Zealand businesses are taking to achieve international success, the Awards are run by New Zealand Trade and Enterprise (NZTE) and strategic partner ANZ. Other finalists include a business offering 3D modelling technology for use in hydrogeological and geothermal exploration, a company whose handmade educational tools for children are sold in Harrods and MoMa, a burger venture taking on the Middle East, a business that manufactures precision electro magnets used in touchscreens, whiteware and medical systems, and a number of agricultural and ICT-focused companies. Also of note this year are the two winery finalists – the first time in four years a winery has made it to the finalist stage of the Awards. Read more of this post

China’s Worst Nightmare Is Turning Japanese

China’s Worst Nightmare Is Turning Japanese

Few words strike greater fear in the hearts of economists and politicians than “Japanization.” That specter of chronic malaise, deflation and bad debt has driven central bankers from Ben S. Bernanke in the U.S. to Mario Draghi in Europe to flood markets with liquidity in an effort to avert their own lost decades.

It should worry China, then, that experts on this dreaded scenario are turning their attention to Beijing. Take Brian Reading, whose quest to understand what the world can learn from Tokyo’s mess dates back to his prescient 1992 book “Japan: The Coming Collapse.” He recently wrote a 40-page report with Lombard Street Research Ltd. colleague Diana Choyleva titled “China’s Chance to Avoid Japan’s Mistakes.” Read more of this post

In wake of cash crunch, PBOC commits to transparency but quietly tightens grip to become more controlling and secretive

In wake of cash crunch, PBOC commits to transparency but quietly tightens grip

Wed, Aug 7 2013

By Lu Jianxin and Pete Sweeney

SHANGHAI (Reuters) – China’s central bank has publicly committed to becoming a better communicator after a cash crunch that it engineered spooked global financial markets in June, but traders say its behavior has become more controlling and secretive. “There is a vicious cycle in China’s reform process,” said a senior trader at a Chinese state-owned bank in Beijing. “A deregulation move often creates a mess in the newly liberalized market. Then the consequent re-tightening suppresses the market again.” Read more of this post

China’s ailing bad debt market cries for change

China’s ailing bad debt market cries for change

Thu, Apr 26 2012

By Koh Gui Qing

BEIJING (Reuters) – Veteran investor Jack Rodman has had enough. After waiting 11 years for China to sell its rising pile of bad bank loans, he is quitting and going to Spain instead. His pull-out exposes a pressing failing in China’s booming financial sector: it does not properly dispose of a growing store of bad loans from banks’ profligate lending, keeping risks pent up within the world’s second-biggest economy. And the problem only scratches the surface of deeper troubles plaguing China’s banking industry, where heavy government intervention has produced a dysfunctional system that is at times better at destroying capital than creating it. The frozen market for bad loans shows just that. Read more of this post

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