South Korea’s Celltrion CEO to Be Probed in Stocks Trading Case

South Korea’s Celltrion CEO to Be Probed in Stocks Trading Case

South Korea’s financial regulator plans to ask prosecutors to investigate the chief executive officer of Celltrion Inc. over alleged stock price manipulation, the drug manufacturer said today. The Financial Services Commission is asking prosecutors to probe the actions of Celltrion’s largest shareholder, the company said in an e-mailed statement. Celltrion disagrees with the FSC’s decision and plans to cooperate with prosecutors, the company said. Celltrion’s largest shareholder is CEO Seo Jung Jin, spokesman Kim Joon Seok confirmed by phone. Read more of this post

How Investors Lose 89 Percent of Gains from Futures Funds

How Investors Lose 89 Percent of Gains from Futures Funds

The pitch was enticing. At a time when the Standard & Poor’s 500 Index had suffered a decline of 41 percent in the previous three years, Morgan Stanley (MS) was offering its clients the possibility of some relief. In a prospectus, the New York securities firm invited its customers to put their money into a little-known area of alternative investing called managed futures. “If you’ve never diversified your portfolio beyond stocks and bonds, you should know about the powerful argument for managed futures,” the bank wrote. “Managed futures may potentially profit at times when traditional markets are experiencing losses.” Read more of this post

Six Other Jerks Whose Stocks Julian Robertson Wouldn’t Buy

Six Other Jerks Whose Stocks Julian Robertson Wouldn’t Buy

Julian Robertson, the hedge fund billionaire, told CNBC that he sold all of his Apple holdings after discovering that Steve Jobs was a “really awful” person through Walter Isaacson’s biography. According to Robertson, this is because mean people can’t build enduringly successful companies. Here are some other business founders whose companies Robertson probably wouldn’t want to own:

1. Henry Clay Frick, United States Steel Corp.

Frick was called one of the “worst American CEOs of all time” by Portfolio magazine. One reason was that his vigorous response to the Homestead Strike of 1892 led to the deaths of 16 people. On the other hand, the company he helped found — U.S. Steel — remains the country’s largest producer, as well as the namesake of the Pittsburgh Steelers, despite the contraction of the American steel industry over the past 30 years. Read more of this post

Singapore: Parents upset over PSLE book-burning ‘celebration’

Parents upset over PSLE book-burning ‘celebration’

burnbooks_int

Tuesday, October 8, 2013 – 12:37

Edvantage

SINGAPORE – A photo showing parents and their kids celebrating the end of the Primary School Leaving Examinations (PSLE) by burning their textbooks has triggered an intense debate online. A reader notified the Shin Min Daily News to the photo circulating on Facebook. According to the reader, the book-burning celebration happened after the exams ended last Wednesday. The photo shows a group of 10 adults and children gathered around a raging fire contained in a metal bin. Torn pages and pieces of paper could be seen strewn around the area. Read more of this post

Robot Surgery Damaging Patients Rises With Marketing

Robot Surgery Damaging Patients Rises With Marketing

Porter Adventist Hospital in Denver announced last year that Warren Kortz, a general surgeon on the medical staff, was the first in the Rocky Mountain region to use a technique known as robotic surgery to remove gall bladders through one incision in the belly button. The operation, performed while the doctor sits at a video-game-like console, was “taking advantage of another breakthrough in robotic surgery” and is “easier on the patient,” the hospital said in a press release. Read more of this post

Flash sale pioneer Vente-Privee eyes smartphone-driven boom

Flash sale pioneer Vente-Privee eyes smartphone-driven boom

9:09am EDT

By Dominique Vidalon and Pascale Denis

PARIS (Reuters) – Vente-Privee, the French firm that pioneered online sales events, expects the bulk of its sales in coming years to be carried out on smartphones and tablet computers, its founder and chief executive said on Tuesday. Vente-Privee, which sells luxury fashion, wine and music at steep discounts to its 19 million European members in “flash sales” that last three to five days, also expects revenue to continue to grow at a double-digit rate over the next 10 years. Read more of this post

Packed China Tourist Sites May Spur Paid-Leave Reform, CCTV Says

Packed China Tourist Sites May Spur Paid-Leave Reform, CCTV Says

China’s overcrowded trains, roads and tourist sites during the week-long National Day holiday may spur the country of more than 1.3 billion people to speed up reforms that ensure paid leave for workers, state television reported. Chinese companies rarely grant requests for vacation time, which combined with growing tourism demand in the world’s second-largest economy, has led to surges in travel during the so-called “Golden Week” holiday Oct. 1-7, China Central Television reported. That’s added impetus to more quickly implement rules that guarantee paid leave, the broadcaster reported yesterday, citing “experts” it didn’t identify. Read more of this post

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