Dr Who breaks box office record; Latest example of alternative content brought into cinemas

November 25, 2013 11:13 pm

Dr Who breaks box office record

By Robert Cookson, Digital Media Correspondent

Special cinema screenings of the 50th anniversary episode of Dr Who over the weekend have broken the European record for box office takings from so-called “alternative content”. The Day of the Doctor was screened in 3D by 440 cinemas in the UK and raised £1.8m – making it the third highest-grossing film this weekend after The Hunger Games: Catching Fire and Gravity, according to figures from Rentrak. Read more of this post

Why everyone wants to buy America’s least liked cable company

Why everyone wants to buy America’s least liked cable company

By John McDuling @jmcduling

November 25, 2013

Time Warner Cable is America’s least liked cable provider, and its second least liked internet service provider, in terms of customer satisfaction. It’s bearing the brunt of the cord-cutting phenomenon, hemorrhaging customers faster than anyone else, and increasingly dependent on annoying fees to bolster its bottom line. Read more of this post

Apple acquisition is a disappointment: Over the past two years, PrimeSense lost part of its motivation and capabilities, and however respectable the end, it was far from its potential

Apple acquisition is a disappointment

Over the past two years, PrimeSense lost part of its motivation and capabilities, and however respectable the end, it was far from its potential.

24 November 13 14:41, Shmulik Shelach

On March 5, 2000, graphic chipset vendor Nvidia Corporation (Nasdaq: NVDA) broke through the glass ceiling. It signed a contract to supply graphic processing units (GPUs) to Microsoft Corporation (Nasdaq: MSFT) for its Xbox game consoles. Nvidia received a down payment of $200 million (30% of turnover that year), strongly contributing the jump in its sales from $735 million to $1.91 billion. Read more of this post

Zendesk eyes Fortune 500 as it hits over 30,000 customers globally

Nassim Khadem Reporter

Zendesk eyes Fortune 500 as it hits over 30,000 customers globally

Published 26 November 2013 08:46, Updated 26 November 2013 12:12

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Zendesk’s Morten Primdahl and Michael Folmer Hansen. The company takes expensive and bulky on-premise customer support software into the cloud. The founder of start-up Zendesk, a cloud-based customer service software provider, says the company is targeting Fortune 500 companies in a bid to more than double 30,000 customers within the next few years. Read more of this post

Why Snapchat is screwed

Why Snapchat is screwed

BY SHANE SNOW 
ON NOVEMBER 25, 2013

(This post originally appeared on LinkedIn Influencers. Follow Shane Snow.)

Last week, Business Insider chief Henry Blodget wrote a post titled, “EXCLUSIVE: How Snapchat Plans To Make Money.” With a juicy title like that, one couldn’t help but click. The disappearing MMS app, Snapchat, is as hot as a startup can be right now. Recent reports say its board turned down a $3 billion buyout offer from Facebook, even though Snapchat makes no money. The news has caused a flurry of speculation – what does Snapchat know that we don’t know? – and hungry social media consultants and marketers are eagerly pointing to it as evidence that you should spend money on this, guys! Read more of this post

Lenovo’s rise amid giants defies critics

Lenovo’s rise amid giants defies critics

Updated: 2013-11-25 07:50

By Alfred Romann in Hong Kong ( China Daily) Read more of this post

Clash of Clans is a big hit in China despite in-app payment disaster

Clash of Clans is a big hit in China despite in-app payment disaster

November 26, 2013

by Steven Millward

Supercell’s newest game Clash of Clans is proving to be a big hit in China right now. According to one of China’s biggest third-party Android app stores, Wandoujia, it’s the top new game in the country with over 200,000 downloads this month from just that one app store. But there’s a problem. The developers are not going to make much money from all the new Clash of Clans fans in China – though it’s not because of piracy, since it’s a free game. Instead, there’s a massive in-app payment mess-up going on whereby the new game uses only Google’s in-app billing but doesn’t have a localized solution in place for Chinese gamers. As a result, notes Wandoujia’s newest China App Index for November, the popular game tries to force Chinese users to install the Google Play store, which few in the country use. But even that won’t work. That’s because Google’s app store in China doesn’t support paid apps, so there’s literally no way for Chinese gamers to get in-app schwag in Clash of Clans [1]. Of course, not all game developers make this mistake. Many find a local publishing partner to adapt their game for tough markets like China – as exemplified by the guys who make Fruit Ninja – or find a method to take in-app payments in a way that suits local consumers. For example, the studio could form a tie-up with a telco for carrier billing, use Alipay in China (like Paypal), or implement a third-party app store billing system (ie: not Google’s). In-app purchases for Clash of Clans on iPhone work fine and very easily via Chinese iTunes accounts, so this is an Android-only issue in China.

Influx of Tech Riches Prompts a Backlash in San Francisco

November 24, 2013

Backlash by the Bay: Tech Riches Alter a City

By ERICA GOODE and CLAIRE CAIN MILLER

SAN FRANCISCO — If there was a tipping point, a moment that crystallized the anger building here toward the so-called technorati for driving up housing prices and threatening the city’s bohemian identity, it came in response to a diatribe posted online in August by a young Internet entrepreneur. The author, a start-up founder named Peter Shih, listed 10 things he hated about San Francisco. Homeless people, for example. And the “constantly PMSing” weather. And “girls who are obviously 4s and behave like they’re 9s.” Read more of this post

A Debate Over Paying Board Nominees of Activist Funds

NOVEMBER 25, 2013, 9:24 PM

A Debate Over Paying Board Nominees of Activist Funds

By DAVID GELLES

When executives serve on a company’s board, they are often handsomely compensated. But as activist hedge funds continue to get more of their preferred candidates on the boards of companies, some of the hedge funds are angling for certain directors to be paid twice: once by the company, and once by the hedge funds that supported their candidacy. Read more of this post

Glee Gets as Little Respect as Gloom With Fed Driving Stocks

Glee Gets as Little Respect as Gloom With Fed Driving Stocks

Craig Hodges, who runs one of the best-performing U.S. mutual funds, is preparing for the next leg of America’s almost five-year-old bull market. After his holdings of Yelp Inc. and Pandora Media Inc. doubled earlier this year, the 50-year-old manager is adding a new stock: Gogo Inc., an unprofitable provider of in-flight Wi-Fi that’s up 63 percent since its June public offering. Read more of this post

‘Golden Leash’ Payments Fuel Debate; Shareholders and Advisers Are Choosing Sides Over Activists Paying Bonuses to Board Members

‘Golden Leash’ Payments Fuel Debate

Shareholders and Advisers Are Choosing Sides Over Activists Paying Bonuses to Board Members

DAVID BENOIT and JOANN S. LUBLIN

Updated Nov. 25, 2013 6:36 p.m. ET

A shareholder vote Tuesday in California for board members of a small, local bank is emerging as a test case for one of the hottest topics in corporate governance: whether activist investors should be able to pay bonuses to their picks for board seats. After approving a new corporate bylaw that would bar such investor-paid bonuses, three directors at Provident Financial Holdings Inc. PROV +0.28% have found themselves in the middle of the debate and are facing a call for them be voted out. Activists say the payments reward directors for helping increase shares’ value, which benefits all company investors. Critics have dubbed the issue the “golden leash,” referring to some activists’ aim to offer bonus payments over time to board members they help install at a company. Lawyers for companies have argued that such deals can compromise directors’ independence by tying them to specific shareholders, when they have a duty to all stockholders. Read more of this post

Beermaker Efes No Match for Putin Faces Downgrade: Turkey Credit

Beermaker Efes No Match for Putin Faces Downgrade: Turkey Credit

Turkey’s biggest brewer risks losing an investment-grade rating as government officials at home and in Russia, its two largest markets, clamp down on alcohol sales and consumption. The yield on Anadolu Efes Biracilik & Malt Sanayii AS (AEFES) dollar bond due November 2022 surged 57 basis points in the past month to 5.79 percent on Nov. 22 amid alcohol restrictions in Turkey and as the company said Nov. 14 that it will stop brewing beer in Moscow from Jan. 1. That compares with an 11 basis-point gain in JPMorgan Chase & Co’s CEMBI Consumer Index. Read more of this post

Hedge-Fund Fight Club Traded Illegal Tips Not Punches

Hedge-Fund Fight Club Traded Illegal Tips Not Punches

The hedge-fund analysts vacationed together in the Hamptons, gambled in Las Vegas and adopted a creed that parodied the rules in the Brad Pitt film “Fight Club.” Instead of trading punches, they traded illegal tips that allowed their portfolio managers to reap tens of millions of dollars in profit. Having pleaded guilty to insider trading, four of the men are now set to be witnesses against SAC Capital Advisors LP fund manager Michael Steinberg. Ex-SAC analyst Jon Horvath could take the stand as early as today in Manhattan federal court against his former boss after ex-Diamondback Capital Management LLC analyst Jesse Tortora concludes his testimony. Read more of this post

Broking faces change from ‘unbundling’ effects; Broker research, meetings with corporates, IT and market data services are all bought by fund managers out of underlying client funds by bundling the payment into trading commissions

November 25, 2013 10:29 am

Comment: Broking faces change from ‘unbundling’ effects

By Richard Balarkas

The Financial Conduct Authority’s planned review of the practice of “bundled commission payments” was one of a series of recent announcements that hint at a concerted effort to “bootstrap” a UK financial services sector still mired in the aftermath of the financial crisis. It could yet have a profound effect on bank earnings. When a fund manager buys or sells stock on behalf of a client the commission paid to the broker comes from client assets. This is not in itself a problem as the cost of executing a trade is clear and will, through the settlement process, be attributed to the clients on whose behalf the trade was undertaken. Read more of this post

Plenty of signs of froth in equities

Last updated: November 25, 2013 9:14 pm

Plenty of signs of froth in equities

By James Mackintosh

Prepare for slower but still acceptable share gains

Equity markets move in cycles, from despair through disbelief to euphoria and back. One of the skills of the investor is to judge where in the cycle they are, and invest accordingly. At the moment, there are plenty of signs of froth. Perhaps the market is reaching the euphoria stage? Peter Oppenheimer, European equity strategist at Goldman Sachs, thinks not. He puts the region in the third phase of a four-stage cycle starting with despair, hope, then growth and finally optimism. Read more of this post

Policy makers must refresh SME approach; Clear vision needed, including proper plan to police non-banks

November 25, 2013 7:10 pm

Policy makers must refresh SME approach

By Patrick Jenkins

Clear vision needed, including proper plan to police non-banks

The ability of smaller businesses to secure bank loans – or, rather, their inability to do so – is back at the centre of the political agenda. As policy makers across the western world try desperately to fan the flickering flames of business recovery, attention has turned to the SMEs that underpin most economies, and why they are not investing more by borrowing more. Read more of this post

Hungry Americans Less Productive as Budget Cuts Deepen: Economy

Hungry Americans Less Productive as Budget Cuts Deepen: Economy

Olivia Solis asks herself the same two questions every morning: “How’s rent going to be paid? What meal are we going to make with what food we do have?” The unemployed mother of three said answers were harder to find this month when the U.S. food-stamp program was trimmed. The worries also preoccupied her mechanic husband, Gumecindo, who would send texts from work with ideas on how they could make extra cash, including cleaning houses or helping people move. Read more of this post

Taper Isn’t Tightening as Bonds See No Rate Boost Until ’15

Taper Isn’t Tightening as Bonds See No Rate Boost Until ’15

The $11.7 trillion Treasury market is betting on history not repeating as the Federal Reserve moves closer to reducing its unprecedented stimulus. From futures to derivatives, traders don’t see the central bank raising its benchmark interest rate from a record low until nine months after policy makers end their monthly bond purchases of $85 billion, or late 2015. In September, when the Treasury market was tumbling in the midst of its worst year since 2009, the projected gap was two months, according to Barclays Plc. Read more of this post

Is the SEC’s New Enforcement Zeal for Real?

Is the SEC’s New Enforcement Zeal for Real?

Mary Jo White, the chairman of the Securities and Exchange Commission, has been on a charm offensive of late, hoping to prove that her agency is no longer the lap dog of Wall Street. It’s not an easy argument to make. Not only did White’s predecessor, Mary Schapiro, appear to let the inmates run the asylum by not aggressively bringing cases against the Wall Street bankers who caused the financial crisis, but White herself, for all the bravado, is also a product of the revolving door between Wall Street and Washington. Read more of this post

The Dirty Secret of Black Friday ‘Discounts’; How Retailers Concoct ‘Bargains’ for the Holidays and Beyond

The Dirty Secret of Black Friday ‘Discounts’

How Retailers Concoct ‘Bargains’ for the Holidays and Beyond

SUZANNE KAPNER

Updated Nov. 25, 2013 7:19 p.m. ET

With Black Friday approaching, we explain how retail discounts generally aren’t discounts at all — they are priced into it from the beginning. Suzanne Kapner reports on the News Hub. Photo: Getty Images.

When shoppers head out in search of Black Friday bargains this week, they won’t just be going to the mall, they’ll be witnessing retail theater. Stores will be pulling out the stops on deep discounts aimed at drawing customers into stores. But retail-industry veterans acknowledge that, in many cases, those bargains will be a carefully engineered illusion. Read more of this post

Israel’s corporate pyramid problem threatens to get uglier

Israel’s corporate pyramid problem threatens to get uglier

As the Knesset prepares to vote limits on tiered corporate structures, the two bidders for the troubled IDB group are proposing the biggest pyramids Israel has ever seen.

By Ido Baum | Nov. 25, 2013 | 5:01 AM

As the Knesset readies the final stages of legislation to limit the phenomenon of business pyramids, a Tel Aviv court is being asked to approve the country’s biggest pyramid ever: Nochi Dankner’s IDB group. Two groups remain in the battle to take control and rescue the financially troubled conglomerate, but the structures being proposed are problematic, particularly given that IDB is already the country’s largest corporate pyramid. Read more of this post

What the Convertible Debt Boom Means for Bankruptcy

NOVEMBER 25, 2013, 10:28 AM

What the Convertible Debt Boom Means for Bankruptcy

By STEPHEN J. LUBBEN

So the word is that convertible debt issuance is at a record high. On one level, that is totally predictable. In an environment where bond prices are going down and stock prices are going up, the option to bail out of the debt and jump into equity has a lot of intuitive appeal. Just don’t think too long about the somewhat shaky nature of many of the companies that issue convertible debt. Read more of this post

Wal-Mart to Microsoft Shifts Show CEO Change Fastest Since ’08

Wal-Mart to Microsoft Shifts Show CEO Change Fastest Since ’08

U.S. corporations are switching chief executive officers at the fastest pace in five years as companies from Wal-Mart Stores Inc. (WMT) to Microsoft Corp. (MSFT) grapple with shifting customer tastes, competition from upstarts and restive shareholders. This year, through the third quarter, 43 companies in the Standard & Poor’s 500 Index were working under new CEOs, according to executive recruiter Spencer Stuart. That suggests 2013 will surpass the 49 of 2011, the biggest for turnover since 2008. Wal-Mart joined those ranks yesterday, saying Doug McMillon, head of its international business, will replace Mike Duke in February. Read more of this post

Najib: It’s either GST or facing bankruptcy

Najib: It’s either GST or facing bankruptcy

Monday, November 25, 2013 – 09:13

The Star/Asia News Network

KUALA LUMPUR – Malaysia has a stark choice of either increasing government revenue via the goods and services tax (GST) or burdening the country by borrowing more money. Prime Minister Datuk Seri Najib Tun Razak said the implementation of GST was necessary as the country risked becoming bankrupt like Greece if it resorted to borrowing. Read more of this post

Malaysian billionaire Vincent Tan is considering listing his online payments company MOL Global Pte, four years after it bought social networking site Friendster

Billionaire Tan Said to Consider IPO for Friendster Owner MOL

Malaysian billionaire Vincent Tan is considering listing his online payments company MOL Global Pte, four years after it bought social networking site Friendster Inc., three people with knowledge of the matter said. Tan is holding preliminary discussions with banks for a dual listing on Kuala Lumpur’s stock exchange and either Hong Kong or Singapore, said two of the people, who asked not to be identified as the process is private. An initial public offering may raise as much as $300 million in the first half of next year, they said. Read more of this post

New framework to let Chinese firms list directly in Singapore

New framework to let Chinese firms list directly in Singapore

SINGAPORE — The Singapore Exchange (SGX) and China Securities Regulatory Commission (CSRC) have set up a new framework that will allow companies on the mainland to list directly in Singapore, in a move that could potentially make the Republic a more accessible capital market and improve ease of regulatory oversight.

BY WONG WEI HAN –

6 HOURS 1 MIN AGO

SINGAPORE — The Singapore Exchange (SGX) and China Securities Regulatory Commission (CSRC) have set up a new framework that will allow companies on the mainland to list directly in Singapore, in a move that could potentially make the Republic a more accessible capital market and improve ease of regulatory oversight. Read more of this post

In Myanmar, Newly Free Media Struggle to Turn a Profit

November 25, 2013

In Myanmar, Newly Free Media Struggle to Turn a Profit

By THOMAS FULLER

YANGON, Myanmar — Myanmar’s journalists celebrated this year when the government lifted a five-decade ban on private newspapers. But six months after a dozen dailies rushed into production, journalists who had withstood the wrath and cruelty of a military dictatorship are struggling against something much more mundane: market forces.  Read more of this post

More Singaporeans succumbing to money mule temptation

More Singaporeans succumbing to money mule temptation

Monday, Nov 25, 2013

Siow Li Sen

The Business Times

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THERE has been a spike in the number of Singaporeans acting as money mules, that is, individuals who let their bank accounts be used to receive ill-gotten funds. The police have received a number of reports in which overseas banks have asked for their customers’ funds to be recalled on the grounds that the remittances were fraudulent. And it is a matter of urgency for these overseas banks, because most of these funds are moved out of Singapore on the same day. Read more of this post

Thai $2.96b rice bond may struggle, risk of further payment delays

Thai $2.96b rice bond may struggle, risk of further payment delays

Monday, November 25, 2013 – 18:35

Reuters

BANGKOK – Thailand may struggle to sell a 75 billion baht (S$2.96 billion) bond to fund its rice intervention scheme, fund managers said on Monday, risking further delays on payments to farmers. The state Bank of Agriculture and Agricultural Cooperatives (BAAC) needs money from the bond, its biggest ever, to pay farmers for rice bought at above market prices in a subsidy scheme that has cost the government 680 billion baht so far. Read more of this post

Diabetes goes boom in Vietnam

Diabetes goes boom in Vietnam

Last updated: Tuesday, November 26, 2013 12:00

Urbanization, inactive lifestyles and fast food triple the number of diabetics over the past decade

Diabetes in Vietnam has increased more than three times in the number of patients over the past decade and is likely to become a pandemic of the century, with increasing prevalence among young people, doctors warned. The non-communicable disease has been historically found among only the elderly and the very rich in Vietnam, but urbanization and changes in lifestyle have brought the chronic disease to every sector of society. Read more of this post