South Korea’s third-generation family members of conglomerates are coming forward to succeed the group control.

December 25, 2013 Leave a comment

Chaebol scions climb toward management

Chae Soo-hwan, Noh Won-myung, Lee Ho-seung

2013.12.25 13:41:49

South Korea’s third-generation family members of conglomerates are coming forward to succeed the group control. In the Hanjin Group’s shake-up which was made on December 24, Korean Air executive vice president Cho Won-tae (aged 38), the son of current chairman of the group Cho Yang-ho, was appointed to concurrently head Hanjin Kal, the holding company of Hanjin Group. Cho Hyun-min, the youngest daughter of chairman Cho was promoted to senior vice president from vice president of Korean Air. With the appointment of Cho Won-tae as vice president, the group’s power structure seems to be leaning toward the son of chairman Cho. Cho Hyun-min, aged 30, saw a fast promotion to senior vice president in a year. The nation’s conglomerates are in the process of passing ownership rights to a third-generation of their family albeit at a slower pace. In Samsung Group, Lee Jae-yong, the third generation of the Samsung family, serves vice president of Samsung Electronics. In Hyundai Motor Group, eyes are on whether Chung Eui-sun, the only son of Hyundai Motor Group chairman Chung Mong-koo, will be assigned to an additional position in the upcoming personnel reshuffle late this year. GS Group also sped up the process of handing over power to the fourth generation of the group’s family members in the management shake-up made last year. GS Group chairman Huh Chang-soo’s only son Yoon-hong was promoted to executive-level from general manager at GS Engineering and Construction. He is deemed as the most probable heir apparent of GS Group. GS Caltex chairman Huh Dong-soo’s son Se-hong also gained promotion at GS Caltex last year.

 

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S. Korea stock performance ranks bottom among OECD members this year

December 25, 2013 Leave a comment

S. Korea stock performance ranks bottom among OECD members this year

2013.12.24 15:26:15

South Korea’s equity index growth was ranked 30th among 34 OECD members this year. In contrast, Japan’s stock index surged over 50 percent thanks to the Abenomics effect, grabbing the top place. The KOSPI closed at 1,983.35 Friday, posting a 0.7 percent decline this year, said sources at the financial investment center and Korea Center for International Finance Tuesday. The index performance took the 30th plance among indexes of 34 member countries. Only five of OECD members including the KOSPI of Korea saw their stock indexes retreat: IGPA of Chile dropped 13.6 percent, ISE100 of Turkey 11.0 percent, PX of the Czech Republic 5.9 percent and IPC of Mexico 3.5 percent. Indexes of the remaining 30 members advanced. Bullish stock indexes of Japan and the US led the global stock markets this year, while that of Korea declined, showing a serious decoupling. The Korean index turned sluggish as Japan’s Abenomics weakened the yen, which undermined Korea’s export competitiveness, and decreasing trading volume and taper of quantitative easing have dampened investor confidence, dragging down the index. Securities firms share the view that the KOSPI would make headway next year, but their forecasts diverge on whether the index would remain soft in the first half and climb in the second half, or vice versa.

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More Korean TV dramas accused of plagiarism

December 25, 2013 Leave a comment

More Korean TV dramas accused of plagiarism

Wednesday, December 25, 2013 – 11:50

Julie Jackson

The Korea Herald/Asia News Network

After only its second episode, the newly aired SBS drama “My Love from the Star” starring popular stars Kim Soo-hyun and Jun Ji-hyun (Gianna Jun) has found itself wrapped up in a heated plagiarism controversy with an ongoing Korean comic book series titled “Seol Hee,” which is based on a similar concept to the drama. Read more of this post

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One year later, Japanese PM has big ‘to do’ list

December 25, 2013 Leave a comment

Updated: Tuesday December 24, 2013 MYT 5:27:45 PM

One year later, Japanese PM has big ‘to do’ list

TOKYO: A year after a landslide national election, Japanese Prime Minister Shinzo Abe is riding high as his plan to rescue the economy earns praise at home and abroad, but chinks in his armour are beginning to show. The unprecedented policy blitz, dubbed Abenomics, ushered in growth that led G7 nations in the first half of the year, stoked a sizzling stock market rally and offered a tantalising end to years of deflation. Read more of this post

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Why U.S. retail giants risk big chill north of the border

December 25, 2013 1 Comment

Why U.S. retail giants risk big chill north of the border

Hollie Shaw | December 22, 2013 5:18 PM ET
Lessons Learned: Our series looks at major corporate, political and economic events of 2013 and what they taught us

TORONTO — Trader Joe’s would do well to stay out of Canada: it seems as though the more we love an international brand, the more likely we are to be disappointed when its Canadian iteration opens here. Witness Target and J Crew. Though the retailers have vastly different store concepts and arrived north of the 49th parallel a year and a half apart, both U.S. chains faced a similar uproar from customers angry that despite a near-to-par dollar, the Canadian stores were not selling goods at the U.S. prices. Read more of this post

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Business of summer: gelato franchise chain Gelatissimo chases growth

December 25, 2013 Leave a comment

Caitlin Fitzsimmons Online editor

Business of summer: gelato franchise chain Gelatissimo chases growth

Felipe Barbosa wants to reinvent Gelatissimo as a “destination”. The hot weather so far this summer is good news for the new management of Gelatissimo. It is a far cry from the summer of two years ago when wet weather and the Queensland floods prompted founders Dominic and Marco Lopresti to embark on a global expansion strategy in part to mitigate seasonal risk. Read more of this post

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World’s biggest aluminum producer launches legal action against LME warehouse rules

December 25, 2013 Leave a comment

Updated: Wednesday December 25, 2013 MYT 8:26:30 AM

World’s biggest aluminum producer launches legal action against LME warehouse rules

LONDON/MOSCOW: The world’s biggest aluminum producer Rusal has begun legal action aimed at having the London Metal Exchange (LME) overturn planned reforms to its warehousing policy, worried about further falls in the price of its metal. Read more of this post

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Strewth, a foreign Holden? GM hopes Australian icon will endure

December 25, 2013 Leave a comment

Strewth, a foreign Holden? GM hopes Australian icon will endure

4:06pm EST

By Lincoln Feast and Thuy Ong

SYDNEY (Reuters) – It’s as much a part of Australia as kangaroos, the Sydney Opera House or vegemite, and General Motors Co’s (GM.N: Quote, Profile, Research,Stock Buzz) decision to stop manufacturing Holdens in the country looks like the marketing equivalent of a car crash. Read more of this post

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A minicar named Hustler? Japan’s brand names raise eyebrows

December 25, 2013 Leave a comment

A minicar named Hustler? Japan’s brand names raise eyebrows

Suzuki Motor Corp Chairman and CEO Suzuki, Executive Vice President Tamura, and Executive Vice President Honda pose next to its new boxy minicar "HUSTLER" during its unveiling event in Tokyo

4:03pm EST

By Sophie Knight

TOKYO (Reuters) – Suzuki Motor Corp had little idea that the name “Hustler” for its new, boxy minicar aimed at outdoorsy Japanese customers might cause mirth among English speakers for its association with an adult magazine – but it’s not alone. Plucking words from foreign dictionaries without checking how they might be received by native speakers appears to be a habit at Japanese companies, which have produced countless products with unintentionally unsavory names. Read more of this post

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Anti-corruption party to govern Delhi

December 25, 2013 Leave a comment

December 23, 2013 9:54 am

Anti-corruption party to govern Delhi

By Amy Kazmin in New Delhi

AAM

Handed power: Aam Aadmi party leader Arvind Kejriwal

India’s one-year-old Aam Aadmi party, formed by a former tax official turned crusading anti-corruption activist, announced on Monday that it will form the local government in New Delhi, after a stunning electoral debut fuelled by public anger against India’s political elites. Like Italy’s Five Star Movement led by comedian come politician Beppe Grillo, the AAP is an electoral insurgency. It has tapped into deep Indian disgruntlement – especially among its urban educated voters – at the lack of accountability of established politicians, many of whom seem to treat electoral victories as blank cheques. Read more of this post

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Thai CEOs fault govt’s failure to halt economy’s decline

December 25, 2013 Leave a comment

CEOs fault govt’s failure to halt economy’s decline

The Nation December 25, 2013 1:00 am

The majority of CEOs do not see parliamentary dissolution as the answer to the political stalemate, according to a survey.

Asked about Thailand’s political situation, 78.8 per cent of 306 CEOs said dissolution was not a way out. Rather, they believed in comprehensive reform to defuse the current political situation and to ensure long-term prosperity for Thailand.  Read more of this post

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Three families hold the keys to American cable consolidation

December 25, 2013 Leave a comment

Three families hold the keys to American cable consolidation

By John McDuling @jmcduling December 24, 2013

screen-shot-2013-12-23-at-12-15-49-pm1

The wave of consolidation about to sweep America’s cable industry in 2014 is practically inevitable. The only real question is who ends up buying whom. At the moment, the highly unpopular Time Warner Cable remains the most likely initial target. There will be much fuss about how such deals will be financed and structured. But ultimately, the outcome of negotiations will come down to the whims of big egos that have dominated the industry for the last six decades. Read more of this post

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Why do mobile browsers suck so bad?

December 25, 2013 Leave a comment

Why do mobile browsers suck so bad?

BY HAMISH MCKENZIE 
ON DECEMBER 24, 2013

In the debate over whether our mobile computing experience should be dominated by native apps or the mobile Web, one side has always had an unfair advantage. Since the iPhone was launched in 2007 until now, native apps have worked better, looked better, and been far more abundant than their Web counterparts – and neither Apple, with iOS, nor Google, with Android, have done anything to change the status quo. Read more of this post

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Companies, Shifting Production, Expand to Accommodate Robots

December 25, 2013 Leave a comment

December 24, 2013

Companies, Shifting Production, Expand to Accommodate Robots

By MARTHA C. WHITE

Even a robot needs a home.

That is what companies across the country are realizing as they shift more production to robotics. Many are expanding their commercial footprint with a new addition or in some cases, excavating for a lower floor to accommodate the recent influx of extremely heavy live-in machines. And it is not just the storage space for down time that robots require. Some robots need 32-foot ceilings, roughly double the height in older factories, or the space between columns has to be widened so the equipment can move. Read more of this post

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As New Services Track Habits, the E-Books Are Reading You

December 25, 2013 Leave a comment

December 24, 2013

As New Services Track Habits, the E-Books Are Reading You

By DAVID STREITFELD

SAN FRANCISCO — Before the Internet, books were written — and published — blindly, hopefully. Sometimes they sold, usually they did not, but no one had a clue what readers did when they opened them up. Did they skip or skim? Slow down or speed up when the end was in sight? Linger over the sex scenes? A wave of start-ups is using technology to answer these questions — and help writers give readers more of what they want. The companies get reading data from subscribers who, for a flat monthly fee, buy access to an array of titles, which they can read on a variety of devices. The idea is to do for books what Netflix did for movies and Spotify for music. Read more of this post

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(Almost) No One Is Reading Your Tweets

December 25, 2013 Leave a comment

(Almost) No One Is Reading Your Tweets

Published on December 23, 2013
by Peter Kafka

Do you like to post things on Twitter? That’s cool. As long you’re cool with the idea that almost no one will read what you type. That’s the gist of a reportpublished last week by Jon Bruner, a data journalist working for O’Reilly Radar. Bruner surveyed Twitter accounts and concluded that almost all of them are all but ignored: “The median Twitter account has a single follower. Among the much smaller subset of accounts that have posted in the last 30 days, the median account has just 61 followers.” Read more of this post

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Why Bitcoin Makes For A Horrible Currency In One Chart; Bitcoin: about 12x more volatile than EUR/USD

December 25, 2013 Leave a comment

Why Bitcoin Makes For A Horrible Currency In One Chart

DANNY VINIK

DEC. 23, 2013, 5:36 AM 5,773 15

This comes from a new working paper by David Yermack titled “Is Bitcoin a Real Currency?” Yermack looks at the historical trading behavior of Bitcoin and compares it other currencies. What he finds is that bitcoin is incredibly volatile and its exchange rate movements have no correlation with other currencies. The virtual currency’s inherent stability makes it impossible to use it as a store of value. For this reason, Yermack concludes that bitcoin looks more like a speculative vehicle than a real currency. The following chart shows bitcoin’s volatility compared to four other fiat currencies and gold:

bitcoin volatility

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Lessons From 2013 to Cherish and Discard: Strategist Jeff Kleintop separates timeless wisdom from ideas that worked this year but are best forgotten

December 25, 2013 Leave a comment

TUESDAY, DECEMBER 24, 2013

Lessons From 2013 to Cherish and Discard

By JEFFREY KLEINTOP | MORE ARTICLES BY AUTHOR

Strategist Jeff Kleintop separates timeless wisdom from ideas that worked this year but are best forgotten.

Each year that passes contains some wisdom for investors, but along with that wisdom can be some folly. This past year bestowed an abundance of each on investors. The top 10 lessons of 2013 for investors need to be put into two categories: those that investors can take to heart as sound wisdom for the year to come, and those they should try to forget as they prepare for 2014. Lessons investors can take to heart for 2014: Read more of this post

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Even if Bitcoin fails, cryptocurrencies are here to stay

December 25, 2013 Leave a comment

Even if Bitcoin fails, cryptocurrencies are here to stay

John Greenwood | December 20, 2013 8:00 PM ET
Is paper money headed for obsolescence, swept aside by the meteoric rise of Bitcoin? Is the controversial cryptocurrency the harbinger of a golden age of e-commerce, where all transactions are electronic, frictionless and not under the control of central banks? It’s not hard to come to that conclusion given some of the recent hype. Read more of this post

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Capitalism: In search of balance; While the income gap in industrialised societies grows inexorably wider, global inequality is shrinking

December 25, 2013 Leave a comment

December 23, 2013 8:25 pm

Capitalism: In search of balance

By John Gapper

While the income gap in industrialised societies grows inexorably wider, global inequality is shrinking

When Pope Francis issued his first apostolic exhortation in November, he took aim at modern capitalism for encouraging “idolatry of money” and growing inequality in the world. “While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by the happy few. This imbalance is the result of ideologies which defend the absolute autonomy of the marketplace and financial speculation,” the Pope wrote in Evangelii Gaudium (The Joy of the Gospel). Read more of this post

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Apple deal shows power is shifting East; It has been clear that Apple needed China Mobile more than the other way around

December 25, 2013 Leave a comment

Apple deal shows power is shifting East

It has been clear that Apple needed China Mobile more than the other way around

By Telegraph staff

5:37PM GMT 23 Dec 2013

After a year which, if not exactly an annus horribilis, has certainly presented its first share of challenges, Christmas came a few days early for Tim Cook, Apple’s chief executive. The iPhone distribution deal he has signed with China Mobile should spur yet another growth spurt for the world’s most valuable technology company. Read more of this post

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Activist hedge fund managers get board welcome

December 25, 2013 Leave a comment

December 23, 2013 1:11 pm

Activist hedge fund managers get board welcome

By Stephen Foley in New York

Activist hedge fund managers are sitting on a record amount of money to deploy against underperforming companies. They are targeting larger businesses than ever before, and they have never had so much success in securing what they want. But if this year marks the triumph of activism, what do the activists do next? Read more of this post

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A Turning Point for Multinational Stocks; According to new research, overseas exposure should soon be less of a drag– and perhaps a boost

December 25, 2013 Leave a comment

TUESDAY, DECEMBER 24, 2013

A Turning Point for Multinational Stocks

By JACK HOUGH | MORE ARTICLES BY AUTHOR

According to new research, overseas exposure should soon be less of a drag– and perhaps a boost.

A new statistical indicator suggests U.S. stock-buyers should favor companies with high foreign sales. For a given group of stocks, the revision ratio is the number of issues with recently raised earnings estimates divided by the number with reduced estimates. It offers an early look at whether business conditions are broadly expected to improve. Among companies in the Standard & Poor’s 500 index, those with high foreign sales exposure have long had worse revision ratios than pure domestics, but that’s changing. Read more of this post

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Raising Children With an Attitude of Gratitude; Research Finds Real Benefits for Kids Who Say ‘Thank You’

December 25, 2013 Leave a comment

Raising Children With an Attitude of Gratitude
Research Finds Real Benefits for Kids Who Say ‘Thank You’
DIANA KAPP
Dec. 23, 2013 6:40 p.m. ET

Ben Gantert, 12, center, washes dishes near his father, Kurt Gantert, left, sister Amelie Gantert, 9, near right, and mother Gabrielle Toledano in San Francisco. The family assigns each child chores and makes sure to thank whoever cooks dinner. Laura Morton for The Wall Street Journal

At the Branstens’ modern white dining table, the family holds hands for their nightly ritual.

Arielle, 8 years old, says she’s thankful for her late grandfather, Horace, and how funny he was. “I’m missing him,” she says. Her third-grade pal, over for dinner, chimes in, “I’m grateful for the sausages.” Leela, who works for an education nonprofit, and her attorney husband Peter, burst into smiles. The San Francisco couple couldn’t have scripted this better. Appreciation for things big and small—that’s why they do this. Read more of this post

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PBOC’s Opacity Leaves Markets Guessing Amid Cash Crunch

December 25, 2013 Leave a comment

PBOC’s Opacity Leaves Markets Guessing Amid Cash Crunch

China’s second cash crunch this year is revealing some of the risks behind pledges by the nation’s leaders to elevate the role of markets, in a country where policy makers are unaccustomed to detailing their intentions. The central bank, which unlike counterparts in the U.S., Europe and Japan doesn’t schedule decisions on its main policy tool, saw the seven-day interbank repurchase rate rise for a seventh straight session yesterday even after it released more than $49 billion to selected lenders. The People’s Bank of China is “confused” on whether to target the volume of liquidity or influence the price of credit, Bank of America Corp. says. Read more of this post

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China Protester Risks Riches Joining Street Fight for Justice

December 25, 2013 Leave a comment

China Protester Risks Riches Joining Street Fight for Justice

After leaving a downtown park in southern China where they held banners protesting nuclear tests by China-ally North Korea, Wang Aizhong says he and about a dozen others were tailed to a restaurant by Guangzhou police. As food began to arrive, the cops stormed their private room and ordered the diners to squat. Wang, 37, says he slammed his hands on the table and shouted: “Why?” Read more of this post

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Starbucks to Audi Face China Clampdown on Foreign Firms

December 25, 2013 Leave a comment

Starbucks to Audi Face China Clampdown on Foreign Firms

As Chinese President Xi Jinping promises the nation’s biggest market opening in two decades, the reality for some of the most successful foreign companies in the country is a raft of probes and laws that curb their operations. This month, after China’s ruling Communist Party promised to make markets “decisive” in shaping the world’s second-largest economy, carmakers Jaguar Land Rover Automotive Plc, Fuji Heavy Industries Ltd. (7270)’s Subaru division and Audi AG became the latest targets when state media accused them of charging “unfair” prices for spare parts. Read more of this post

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Glenmark Goes West for $250 Billion Drugs Opportunity; “The hope is to be the first innovative pharma company coming out of India.”

December 25, 2013 Leave a comment

Glenmark Goes West for $250 Billion Drugs Opportunity

Glenmark Pharmaceuticals Ltd. (GNP), the Indian company that’s reaped more than $200 million selling rights to its drugs, is seeking to introduce its first biotechnology medicine in the U.S. or Europe as early as 2017. A biologic remedy for ulcerative colitis, a bowel disorder affecting 1.5 million patients globally, is progressing through U.S. trials after being licensed to Paris-based Sanofi and may come to market from 2017 to 2020, according to Glenmark’s Managing Director Glenn Saldanha. Talks with possible licensees for biologic pain and inflammation drugs have begun, he said. Read more of this post

Filed under Health

Picturing Apple’s Biggest Failures

December 25, 2013 Leave a comment

Picturing Apple’s Biggest Failures

Tyler Durden on 12/24/2013 16:43 -0500

We all know Apple’s greatest hits, but which products and services would Apple’s leaders rather forget?

AppleFailures-1

 

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In telecom merger mania, skeptical eye from Obama administration

December 25, 2013 Leave a comment

In telecom merger mania, skeptical eye from Obama administration

1:42pm EST

By Alina Selyukh and Sinead Carew

WASHINGTON/NEW YORK (Reuters) – A pair of potentially transformative U.S. telecoms and cable deals could run afoul of Obama administration regulators who worry that mergers among market leaders would hurt consumers. Read more of this post

Filed under TMT Trends

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