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The silver lining on multiple directorships?

The silver lining on multiple directorships

Thursday, Jun 12, 2014

Lee Kin Wai

The Straits Times

It is generally believed to be detrimental for a company if its board directors hold several other board positions elsewhere.

The idea is that a director is less likely to be able to effectively oversee a firm if he is too busy with similar responsibilities for many other organisations. Read more of this post

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MasterCard expects big growth from ‘big data’ insights

MasterCard expects big growth from ‘big data’ insights

9:22am EDT

By Emma Thomasson

BERLIN (Reuters) – MasterCard Inc, the world’s second-largest debit and credit card company, sees business booming from selling data to retailers, banks and governments on spending patterns found in the payments it processes, a top executive told Reuters. Read more of this post

China to maintain manufacturing supremacy

May 23rd 2014

China to maintain manufacturing supremacy

In the past three decades China has revolutionised global manufacturing. In that time 500m people have moved from its fields to its cities, creating an unprecedented mass of factory workers. China’s economy is changing, however, as wages rise and labour unrest grows. Does this mean an end to its dominance of global manufacturing? The Economist Intelligence Unit believes that new infrastructure and further productivity growth, allied to a continued supply of new urban workers, will keep China competitive, despite several new trends in supply chains. Read more of this post

PCAOB Cracks Down on Fraud; A new PCAOB standard will require auditors to probe more deeply into related-party deals, unusual transactions and executive pay.

June 11, 2014

CFO.com | US

PCAOB Cracks Down on Fraud

A new PCAOB standard will require auditors to probe more deeply into related-party deals, unusual transactions and executive pay.

David M. Katz

Bottom of Form

Citing “decades of financial reporting frauds,” the Public Company Accounting Oversight Board yesterday issued new rules aimed at tightening auditor scrutiny of corporate related-party deals, “significant unusual transactions,” and executive compensation. Read more of this post

Free Wi-Fi is new battleground for China’s internet giants

Free Wi-Fi is new battleground for China’s internet giants

Staff Reporter

2014-06-11

Free Wi-Fi service is expected to become the next battleground for China’s internet giants, who are trying to tap into the online-to-offline (O2O) market, the Shanghai-based National Business Daily reports.

Alipay, the third-party payment service operated by Chinese e-commerce giant Alibaba, recently announced a partnership with Wi-Fi service provider WiTown, under which the two companies will help vendors establish Wi-Fi services at their stores. The Wi-Fi will be offered to customers free of charge. Read more of this post

Political meddling is at the root of India’s power problems

Political meddling is at the root of India’s power problems: Kemp

Tue, Jun 10 2014

By John Kemp

LONDON (Reuters) – (John Kemp is a Reuters market analyst. The views expressed are his own)

For decades, India’s power engineers had a dream: “One Nation. One Grid. One Frequency.”

At the start of this year, that vision was realised. India finally has a nationwide power system stretching from Tamil Nadu in the south to Kashmir in the north, Gujarat in the west to Nagaland in the east. Read more of this post

Revealed: Asian slave labour producing prawns for supermarkets in US, UK

Revealed: Asian slave labour producing prawns for supermarkets in US, UK

Thai ‘ghost ships’ that enslave, brutalise and even kill workers are linked to global shrimp supply chain, Guardian investigation discovers
• Trafficked into slavery on Thai trawlers to catch food for prawns 
• Thailand’s seafood industry: state-sanctioned slavery?
Kate HodalChris Kelly in Songkhla and Felicity Lawrence

The Guardian, Tuesday 10 June 2014 12.05 BST

Slaves forced to work for no pay for years at a time under threat of extreme violence are being used in Asia in the production of seafoodsold by major US, British and other European retailers, the Guardian can reveal.

A six-month investigation has established that large numbers of men bought and sold like animals and held against their will on fishing boats off Thailand are integral to the production of prawns (commonly called shrimp in the US) sold in leading supermarkets around the world, including the top four global retailers: Walmart, Carrefour, Costco andTesco. Read more of this post

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