Hulu Plus Hits Apple TV, With iTunes Pay Option
In a simple blog posting today Hulu reveals that its premium Hulu Plus service has finally arrived on the Apple TV. If you're existing Hulu Plus subscriber it's simply a matter of tapping your details into the app on the Apple TV homescreen. But Hulu points out that as well as signing up via their website, you can now also create a Hulu Plus account directly through Apple's TV interface and paying via your existing iTunes account details (and an email will then tell you how to access the streaming service via other channels). A regular $7.99 fee is then charged via your iTunes account every month.
While the addition of Hulu Plus is a coup for Apple and a boon for fans of the service, at least in the regions where it's available, the iTunes pay channel is a very important part of this equation and represents an expansion of its existing Netflix pay service.
European mobile phone card payment platform iZettle has been cut off by Visa. IZettle must stop processing Visa card payments in Norway, Denmark and Finland, "based on a policy decision" by Visa Europe, iZettle said in a blog post. Visa Inc. is an investor in rival mobile card-swipe giant Square, but Visa Europe is run as an independent entity, so there is little reason to think this is a competitive move (and Square remains U.S.-centric for now). Other cards--MasterCard and American Express in Finland and Diner's Club in Denmark and Norway will continue to work with the reader. In addition to these three countries, iZettle's service is also available in Sweden (where the company is based) and the U.K.--the Swedish service is still live, which has prompted discussion over Visa's motives in quashing some of the value of the mobile card reader.
IZettle started out with an iOS app and reader, but recently started beta tests of an Android app and reader in partnership with Samsung. iZettle closed a $31.6 million funding round in mid-June from funding backers like Greylock Partners, Index Ventures and MasterCard.
Google Links Blogger With Google+, Gives Gmail Hangouts
Blogger, Google's fairly popular blogging tool just got the Google+ treatment. Now that Google's content creation and content sharing streams are hooked up, bloggers on the service can link their blogs with Google+ brand pages (blogs have been linkable to personal profiles for some time now). When new posts are ready, the Google+ integration presents the option of sharing the post as a notification to selected circles of Google+ followers. Upgrading to the Google+ feature also lets existing Google+ users add a blogger's Google+ profile to their website.
Yesterday, Google announced that Gmail and its scores of loyal users would see their video chat powered by Hangouts, a previously Google+ only group chat feature. Gmail users can video chat with contacts logged into Google+, driving a cross-talk between two of Google's services that are believed to have markedly different levels of engagement. Gmail users can play around with Hangouts feature like virtual moose ears, and group chat with up to 9 other Google users. For the full experience, however, they still need to hop over to Google+.
As the year rolls on, Google is integrating more of its existing products with its testy social network which has always had something of a engagement problem. According to a recent ComScore count Google+ user numbers had grown 66 percent since November last year to 110.7 million in June, but a previous study by RJMetrics, 30 percent of Google+ users don't post after their first time.
Google Acquires Social Ad Manager Wildfire
Companies may now manage their advertising campaigns on Facebook, Pinterest, and Twitter using a service owned by Google.
The search giant announced it had agreed to acquire social media marketing startup Wildfire in a blog post on Tuesday. Details of the acquisition weren't disclosed, though sources tell All Things D that the purchase price is around $250 million.
Wildfire helps its 16,000 customers, including Sony, Verizon and Amazon, manage social media campaigns, content and advertising across social platforms.
Companies that fit a similar social media genre have been a hot commodity lately. Oracle has agreed to acquire two such startups, Vitrue and Collective Intellect, this summer, and Salesforce agreed to buy Wildfire competitor Buddy Media for $745 million in June.
Facebook Adding Time-Shift "Save" For Later Facility To Updates
Facebook has very quietly added a new feature to its mobile apps that lets users click and hold anywhere on a status update to activate a "save" function that specially tags a long article in order that it can be accessed easily at a later moment. The function seems to act a little like the well-known Instapaper app that is handy for marking long-form web pages in order that they can be quickly accessed later in the day when a user has more time to read them, and it's also been confirmed by TheVerge.com that the new system will be coming to Facebook's main web service too. The system seems aimed squarely at user convenience, keeping a Facebook client engaged in an article found within the social network where previously it may have been left unread due to time constraints and the inconvenience of relocating the same piece of writing later in the day in someone's cluttered Timeline.
Spotify Adds Free Streaming Radio For Android Users
Spotify has given U.S. users of its Android app the ability to stream radio for free, in Pandora-like auto-curated streams based on selected tracks or playlists. The radio feature was late coming to the iOS app itself, only showing up in June, but is now accessible to a larger pool of Android users. The radio feature syncs across devices and comes with a voting feature to respond to songs that worked and those that didn't. (The desktop app made its entry in December.) Before that, mobile access to Spotify was limited to its top tier Premium members who pay $9.99 a month.
Twitter's New Clickable Stock Ticker Tags Track Tweets About Cos.
Twitter is a great streaming service for following updates from followers and lists as they happen, but has been working on its search relevance: The latest move is the addition of a clickable stock tag for companies. Clicking on "$FB" for example, will pull up a search result list for all mentions of the Facebook stock tag as well as tweets mentioning Facebook in plain English, possibly cutting through some of the noise that comes with searching via a hashtag and making it easier to keep track of the price of stock you're interested in.
The search, sort, and old tweets departments have been a bit of a weak spot for the service. In recent months Twitter has taken small steps to improve searching on its site in terms of features and effectiveness. Earlier this year, it added an autocomplete feature to throw up commn hashtags and people you follow, and started suggesting related queries and spelling corrections in listed search results.
In a simple blog posting today Hulu reveals that its premium Hulu Plus service has finally arrived on the Apple TV. If you're existing Hulu Plus subscriber it's simply a matter of tapping your details into the app on the Apple TV homescreen. But Hulu points out that as well as signing up via their website, you can now also create a Hulu Plus account directly through Apple's TV interface and paying via your existing iTunes account details (and an email will then tell you how to access the streaming service via other channels). A regular $7.99 fee is then charged via your iTunes account every month.
While the addition of Hulu Plus is a coup for Apple and a boon for fans of the service, at least in the regions where it's available, the iTunes pay channel is a very important part of this equation and represents an expansion of its existing Netflix pay service.
Visa Europe's 'Policy Decision' Cuts Off Mobile Phone Pay Startup iZettle
European mobile phone card payment platform iZettle has been cut off by Visa. IZettle must stop processing Visa card payments in Norway, Denmark and Finland, "based on a policy decision" by Visa Europe, iZettle said in a blog post. Visa Inc. is an investor in rival mobile card-swipe giant Square, but Visa Europe is run as an independent entity, so there is little reason to think this is a competitive move (and Square remains U.S.-centric for now). Other cards--MasterCard and American Express in Finland and Diner's Club in Denmark and Norway will continue to work with the reader. In addition to these three countries, iZettle's service is also available in Sweden (where the company is based) and the U.K.--the Swedish service is still live, which has prompted discussion over Visa's motives in quashing some of the value of the mobile card reader.
IZettle started out with an iOS app and reader, but recently started beta tests of an Android app and reader in partnership with Samsung. iZettle closed a $31.6 million funding round in mid-June from funding backers like Greylock Partners, Index Ventures and MasterCard.
Google Links Blogger With Google+, Gives Gmail Hangouts
Blogger, Google's fairly popular blogging tool just got the Google+ treatment. Now that Google's content creation and content sharing streams are hooked up, bloggers on the service can link their blogs with Google+ brand pages (blogs have been linkable to personal profiles for some time now). When new posts are ready, the Google+ integration presents the option of sharing the post as a notification to selected circles of Google+ followers. Upgrading to the Google+ feature also lets existing Google+ users add a blogger's Google+ profile to their website.
Yesterday, Google announced that Gmail and its scores of loyal users would see their video chat powered by Hangouts, a previously Google+ only group chat feature. Gmail users can video chat with contacts logged into Google+, driving a cross-talk between two of Google's services that are believed to have markedly different levels of engagement. Gmail users can play around with Hangouts feature like virtual moose ears, and group chat with up to 9 other Google users. For the full experience, however, they still need to hop over to Google+.
As the year rolls on, Google is integrating more of its existing products with its testy social network which has always had something of a engagement problem. According to a recent ComScore count Google+ user numbers had grown 66 percent since November last year to 110.7 million in June, but a previous study by RJMetrics, 30 percent of Google+ users don't post after their first time.
Google Acquires Social Ad Manager Wildfire
Companies may now manage their advertising campaigns on Facebook, Pinterest, and Twitter using a service owned by Google.
The search giant announced it had agreed to acquire social media marketing startup Wildfire in a blog post on Tuesday. Details of the acquisition weren't disclosed, though sources tell All Things D that the purchase price is around $250 million.
Wildfire helps its 16,000 customers, including Sony, Verizon and Amazon, manage social media campaigns, content and advertising across social platforms.
Companies that fit a similar social media genre have been a hot commodity lately. Oracle has agreed to acquire two such startups, Vitrue and Collective Intellect, this summer, and Salesforce agreed to buy Wildfire competitor Buddy Media for $745 million in June.
Facebook Adding Time-Shift "Save" For Later Facility To Updates
Facebook has very quietly added a new feature to its mobile apps that lets users click and hold anywhere on a status update to activate a "save" function that specially tags a long article in order that it can be accessed easily at a later moment. The function seems to act a little like the well-known Instapaper app that is handy for marking long-form web pages in order that they can be quickly accessed later in the day when a user has more time to read them, and it's also been confirmed by TheVerge.com that the new system will be coming to Facebook's main web service too. The system seems aimed squarely at user convenience, keeping a Facebook client engaged in an article found within the social network where previously it may have been left unread due to time constraints and the inconvenience of relocating the same piece of writing later in the day in someone's cluttered Timeline.
Spotify Adds Free Streaming Radio For Android Users
Spotify has given U.S. users of its Android app the ability to stream radio for free, in Pandora-like auto-curated streams based on selected tracks or playlists. The radio feature was late coming to the iOS app itself, only showing up in June, but is now accessible to a larger pool of Android users. The radio feature syncs across devices and comes with a voting feature to respond to songs that worked and those that didn't. (The desktop app made its entry in December.) Before that, mobile access to Spotify was limited to its top tier Premium members who pay $9.99 a month.
Twitter's New Clickable Stock Ticker Tags Track Tweets About Cos.
Twitter is a great streaming service for following updates from followers and lists as they happen, but has been working on its search relevance: The latest move is the addition of a clickable stock tag for companies. Clicking on "$FB" for example, will pull up a search result list for all mentions of the Facebook stock tag as well as tweets mentioning Facebook in plain English, possibly cutting through some of the noise that comes with searching via a hashtag and making it easier to keep track of the price of stock you're interested in.
The search, sort, and old tweets departments have been a bit of a weak spot for the service. In recent months Twitter has taken small steps to improve searching on its site in terms of features and effectiveness. Earlier this year, it added an autocomplete feature to throw up commn hashtags and people you follow, and started suggesting related queries and spelling corrections in listed search results.
Top Stories
India's central bank refuses to cut rate
India's key interest rate was left unchanged by the nation's central bank, which lowered its 2012 growth projection to 6.5% from 7.3% and raised the inflation outlook to 7%. But the bank cut the Statutory Liquidity Ratio, and leading lenders indicated their rates might come down a bit as a result. Meanwhile, India's April-June fiscal deficit was reported at 37.1% of the full fiscal year target; a year before, it was 39.4%.
Former Indian finance minister returns to post
India's new finance minister is Palaniappan Chidambaram, who moves into the new post from his job as home minister. Chidambaram has been finance minister twice before, including a stint during the 2008 crisis when he earned plaudits for his economic management.
More than 41 billion euros in capital fled Spain in May as the government struggled to back one of the country's biggest banks. From the beginning of the year through May, 163 billion euros left the country, equivalent to 16% of Spanish GDP. Separately, Spanish retail sales for June were reported down 5.2% on a seasonally adjusted basis.
German retail sales ebb even in robust job, wage environment
Despite strong wage gains and a solid job market, German retail sales were down for a third consecutive month in June, the longest run of declines since 2007. The 0.1% drop from May also came despite preliminary indications of improving consumer sentiment.
German coalition rules out euro-fund access to ECB liquidity
Proposals supported by France and Italy for permanent access by the euro rescue fund to the European Central Bank's liquidity got a cold reception in Germany, meeting outright rejection by the ruling coalition of Chancellor Angela Merkel. Characterizing such a license as a "wealth-destroying weapon," Rainer Bruederle of the Free Democratic Party said that financing debt "by means of the printing press leads to growing inflation dangers."
All eyes are on central banks, but how much more can they do?
Although markets around the world are pinning their hopes on the U.S. Federal Reserve and the European Central Bank to step up in the face of a mounting global crisis, doubts nonetheless abound about their capacity to help. "Central bankers are very conditioned to be confident in the power of monetary policy. But the markets are questioning how many arrows they have left in their quiver," said Benjamin Pace, chief U.S. investment officer for Deutsche Bank Private Wealth Management.
U.S. home prices, business activity take upward paths
Seasonally adjusted U.S. home prices were up for the fourth consecutive month in May, and an index of business activity for July was positive as well, with both measures suggesting bright spots in the U.S. economy. On the fiscal side, however, the Treasury Department said the government expects to borrow $592 billion for the second half of the year in the midst of only modest economic growth.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
Poorer-than-expected results from UBS and BP weighed on European stocks Tuesday, as did new indications that Germany might thwart action by the European Central Bank to address the euro crisis. The Stoxx Europe 600 index ended down 1%. On Wall Street, the S&P 500 Index edged 0.43% lower as investors awaited some indication from the U.S. Federal Reserve. Here is a continuously updated list of global stock indexes.
Economic Trends & Outlook
Japan posts better jobs numbers, but outlook remains clouded
Despite lagging exports and a buoyant yen, Japan's unemployment rate declined in July to 4.3%, down one notch from June's 4.4%. Gains, however, were concentrated in the service sector while manufacturing employment was down, portending uncertainty in coming months as the euro crisis plays out.
Taiwan, South Korea indicators all point downward
Taiwan's gross domestic product edged back 0.16% in the second quarter as the country's consumer confidence index fell in June. Meanwhile, South Korea reported a decline in output. In combination with an earlier reported slide in Japanese manufacturing, the indicators all pointed to a need for further stimulus across Asia.
With local lending mandate and rail push, China looks to lift economy
Chinese private banks have been ordered to step up lending to local governments, apparently part of Chinese leaders' broader plan to stimulate the economy. The push comes as the Ministry of Railways boosts investment 16% in another sector of the country's infrastructure. Separately, foreign exchange regulators said China's capital and financial account pivoted to a deficit of $71.4 billion in the second quarter from a surplus in the preceding period.
Thailand's exports were off 2.0% for the first half of the year, contributing to a slower Thai economy in June. Lingering problems in the eurozone contributed to the lower figures, and the Finance Ministry said it would dial back its export target in September as a result.
Thailand moves aggressively to seize business opportunities in region
Thailand is looking to bounce back strongly from the 2008 global financial meltdown and the country's devastating floods last year as its businesses seek out developing consumer markets in neighboring countries. The drive has included more than $20 billion of investment in the region, taking advantage of buying opportunities generated by the crisis. For all that, Thailand faces stiff competition and hurdles, including "the challenge ... to move up the value chain and not get stuck on low-value-added jobs," says Hozefa Topiwalla, head of research for Southeast Asia at Morgan Stanley in Singapore.
Capital Markets & Financial Products
Shaky markets are cited as 2 Asia-focused funds close
Volatile markets and wary investors are being cited as Lazard closes its South Korean-focused activist hedge fund and China International Capital Corp. pulls the curtain on its Asian long/short equity fund. The Lazard fund made its debut in 2006 and invested in small to midsize South Korean businesses with a nod to social responsibility.
China central bank's reverse repo raises speculation on reserves cut
Raising speculation that a cut in the reserve requirement ratios for banks may be in store, China's central bank Tuesday injected 8 billion yuan into the market in a seven-day reverse repo. "Liquidity conditions at the end of July are apparently better than those in end-June. ... In the light of the current situation, the size of central bank's [potential] reverse repos would directly determine liquidity conditions in financial institutions," a trader with a state-owned commercial bank was quoted as saying.
Malaysia launches Kuala Lumpur financial site
A major financial hub "that can grow both Islamic and conventional finance" was the hope as Malaysian Prime Minister Najib Razak opened a 70-acre financial district in Kuala Lumpur. The government expects 250 global companies to locate at the Tun Razak Exchange site.
4 firms launch fund for Philippine infrastructure
Four investment firms are launching a $625 million fund targeted for infrastructure deals in the Philippines. "We aim to finance five to 10 investments with approximately $50 million to $125 million for each project. The fund should be fully deployed within the next three years and, given the robust pipeline in the Philippines, we are confident we can deploy it well," said Frank Kwok, senior managing director of Macquarie Infrastructure and Real Assets Asia, the fund manager.
A former vice president for Hanlong Mining has pleaded guilty to serial insider trading that dates from 2006. Calvin Bo Shi Zhu's plea comes with a decision pending from China's National Development and Reform Commission on Hanlong's proposed takeover of Australian miner Sundance Resources.
India's central bank refuses to cut rate
India's key interest rate was left unchanged by the nation's central bank, which lowered its 2012 growth projection to 6.5% from 7.3% and raised the inflation outlook to 7%. But the bank cut the Statutory Liquidity Ratio, and leading lenders indicated their rates might come down a bit as a result. Meanwhile, India's April-June fiscal deficit was reported at 37.1% of the full fiscal year target; a year before, it was 39.4%.
Former Indian finance minister returns to post
India's new finance minister is Palaniappan Chidambaram, who moves into the new post from his job as home minister. Chidambaram has been finance minister twice before, including a stint during the 2008 crisis when he earned plaudits for his economic management.
Spain sees rising capital flight
More than 41 billion euros in capital fled Spain in May as the government struggled to back one of the country's biggest banks. From the beginning of the year through May, 163 billion euros left the country, equivalent to 16% of Spanish GDP. Separately, Spanish retail sales for June were reported down 5.2% on a seasonally adjusted basis.
German retail sales ebb even in robust job, wage environment
Despite strong wage gains and a solid job market, German retail sales were down for a third consecutive month in June, the longest run of declines since 2007. The 0.1% drop from May also came despite preliminary indications of improving consumer sentiment.
German coalition rules out euro-fund access to ECB liquidity
Proposals supported by France and Italy for permanent access by the euro rescue fund to the European Central Bank's liquidity got a cold reception in Germany, meeting outright rejection by the ruling coalition of Chancellor Angela Merkel. Characterizing such a license as a "wealth-destroying weapon," Rainer Bruederle of the Free Democratic Party said that financing debt "by means of the printing press leads to growing inflation dangers."
All eyes are on central banks, but how much more can they do?
Although markets around the world are pinning their hopes on the U.S. Federal Reserve and the European Central Bank to step up in the face of a mounting global crisis, doubts nonetheless abound about their capacity to help. "Central bankers are very conditioned to be confident in the power of monetary policy. But the markets are questioning how many arrows they have left in their quiver," said Benjamin Pace, chief U.S. investment officer for Deutsche Bank Private Wealth Management.
U.S. home prices, business activity take upward paths
Seasonally adjusted U.S. home prices were up for the fourth consecutive month in May, and an index of business activity for July was positive as well, with both measures suggesting bright spots in the U.S. economy. On the fiscal side, however, the Treasury Department said the government expects to borrow $592 billion for the second half of the year in the midst of only modest economic growth.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
Poorer-than-expected results from UBS and BP weighed on European stocks Tuesday, as did new indications that Germany might thwart action by the European Central Bank to address the euro crisis. The Stoxx Europe 600 index ended down 1%. On Wall Street, the S&P 500 Index edged 0.43% lower as investors awaited some indication from the U.S. Federal Reserve. Here is a continuously updated list of global stock indexes.
Economic Trends & Outlook
Japan posts better jobs numbers, but outlook remains clouded
Despite lagging exports and a buoyant yen, Japan's unemployment rate declined in July to 4.3%, down one notch from June's 4.4%. Gains, however, were concentrated in the service sector while manufacturing employment was down, portending uncertainty in coming months as the euro crisis plays out.
Taiwan, South Korea indicators all point downward
Taiwan's gross domestic product edged back 0.16% in the second quarter as the country's consumer confidence index fell in June. Meanwhile, South Korea reported a decline in output. In combination with an earlier reported slide in Japanese manufacturing, the indicators all pointed to a need for further stimulus across Asia.
With local lending mandate and rail push, China looks to lift economy
Chinese private banks have been ordered to step up lending to local governments, apparently part of Chinese leaders' broader plan to stimulate the economy. The push comes as the Ministry of Railways boosts investment 16% in another sector of the country's infrastructure. Separately, foreign exchange regulators said China's capital and financial account pivoted to a deficit of $71.4 billion in the second quarter from a surplus in the preceding period.
Thailand exports decline 2% in first half
Thailand's exports were off 2.0% for the first half of the year, contributing to a slower Thai economy in June. Lingering problems in the eurozone contributed to the lower figures, and the Finance Ministry said it would dial back its export target in September as a result.
Thailand moves aggressively to seize business opportunities in region
Thailand is looking to bounce back strongly from the 2008 global financial meltdown and the country's devastating floods last year as its businesses seek out developing consumer markets in neighboring countries. The drive has included more than $20 billion of investment in the region, taking advantage of buying opportunities generated by the crisis. For all that, Thailand faces stiff competition and hurdles, including "the challenge ... to move up the value chain and not get stuck on low-value-added jobs," says Hozefa Topiwalla, head of research for Southeast Asia at Morgan Stanley in Singapore.
Capital Markets & Financial Products
Shaky markets are cited as 2 Asia-focused funds close
Volatile markets and wary investors are being cited as Lazard closes its South Korean-focused activist hedge fund and China International Capital Corp. pulls the curtain on its Asian long/short equity fund. The Lazard fund made its debut in 2006 and invested in small to midsize South Korean businesses with a nod to social responsibility.
China central bank's reverse repo raises speculation on reserves cut
Raising speculation that a cut in the reserve requirement ratios for banks may be in store, China's central bank Tuesday injected 8 billion yuan into the market in a seven-day reverse repo. "Liquidity conditions at the end of July are apparently better than those in end-June. ... In the light of the current situation, the size of central bank's [potential] reverse repos would directly determine liquidity conditions in financial institutions," a trader with a state-owned commercial bank was quoted as saying.
Malaysia launches Kuala Lumpur financial site
A major financial hub "that can grow both Islamic and conventional finance" was the hope as Malaysian Prime Minister Najib Razak opened a 70-acre financial district in Kuala Lumpur. The government expects 250 global companies to locate at the Tun Razak Exchange site.
4 firms launch fund for Philippine infrastructure
Four investment firms are launching a $625 million fund targeted for infrastructure deals in the Philippines. "We aim to finance five to 10 investments with approximately $50 million to $125 million for each project. The fund should be fully deployed within the next three years and, given the robust pipeline in the Philippines, we are confident we can deploy it well," said Frank Kwok, senior managing director of Macquarie Infrastructure and Real Assets Asia, the fund manager.
Ethics & Standards
Guilty plea is entered in insider trading case against ex-Hanlong exec
Guilty plea is entered in insider trading case against ex-Hanlong exec
A former vice president for Hanlong Mining has pleaded guilty to serial insider trading that dates from 2006. Calvin Bo Shi Zhu's plea comes with a decision pending from China's National Development and Reform Commission on Hanlong's proposed takeover of Australian miner Sundance Resources.
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View1 : Anna Hazare's fast entered third day with normal health. In a statement from government authority, it has been mentioned that "Government will act, if Anna Hazare's health fails" But the question is why government is waiting for Anna Hazare's health to fail. Is government playing game with Team Anna, that Anna Hazare's health deteriorate and then it might debate the strong LokPal Bill for few weeks and then everything will be in air like last time. It might be a bad politics of India that suppose Anna Hazare might get close to end of his life, then only government will start discussion about his demand and the final verdict might be something like this. You will end up loosing Anna Hazare's life and movement will be vanished in air. To show little sympathy, government and politicians might start debating Lokpal Bill and few weeks later when everyone back to their routine. We will be still waiting for another Anna Hazare to start the movement again. Isn't it true?
Dedicated parking spaces are always useful for city dwellers with cars; there’s nothing worse than coming home after a long day at work only to find that the nearest spot is 10 blocks away. But parking spaces take up, well, space. And for much of the day, they’re left unused. There’s one startup, Parkatmyhouse, that lets people rent out their empty spots. Designer Aaron Cheng has a more creative solution: a structure that looks like a normal parking garage during the day, but turns into a living space at night.
The Parking + Housing project, submitted to this year’s James Dyson Award, asks us to imagine a place where people don’t have many possessions and don’t mind losing access to their homes during the day.
Once evening hits (and presumably all the cars have exited), the parking garage inflates into small studio living spaces that are each divided into two parts: a fixed unit with storage, a bathroom, and a kitchen, and a separate bedroom that inflates and deflates using a pneumatic system. All furniture--and other furnishings--would have to be stuffed into the fixed area during the day.
Sure, there are holes in the design: Where do people park when they get home? And what happens if someone wants to stay home from work? This would only work for someone who needs a place to rest their head at night, and nothing more.
But consider this: Cities around the world are growing rapidly, and will only continue to balloon as the population grows. Already, urban centers are considering creative space-saving ideas. In New York City, Mayor Bloomberg recently launched a contest for developers who want to build a series of 275- to 300-square-foot apartments. Developers in San Francisco are working on similar ideas.
A part-time parking lot, part-time home may not be the logical next step. But it’s something to consider.
Most of the world, including India, was pessimistic about the job market last year with 57 per cent of adults saying it was a bad time to find a job, according to a new Gallup survey.
Only one-third of the people said it was a good time, the leading US opinion poll organisation said on Monday releasing the results of Gallup surveys conducted in 146 countries in 2011.
Indians were only a little more optimistic than the average adult worldwide with 52 percent saying it was a bad time and only 36 percent saying it was a good time. Europeans were the most pessimistic, with 72 percent saying it was a bad time. Optimism was highest in the Americas, where a still dismal 38 per cent said it was a good time.
All of the top 10 countries where residents were most positive about the job market were developing countries, except Singapore.
Oil-rich Middle Eastern nations took four of the top spots; Saudi Arabia and Oman led internationally with 69 per cent of residents saying it was a good time to find a job, despite relatively high unemployment rates.
Six of the 10 countries with the most negative outlooks were EU countries, with Greeks and the Irish nearly universally saying it was a bad time to find a job.
Residents in eight of the world's 10 largest economies did not think it was a good time to find a job in 2011. Brazil and Germany were the two bright spots in an otherwise gloomy outlook on the availability of jobs; about half of residents in each country said it was a good time to find a job.
Results are based on telephone and face-to-face interviews with approximately 1,000 adults per country, aged 15 and older, conducted in 146 countries and areas in 2011, Gallup said.
( Press Trust of India )
Only one-third of the people said it was a good time, the leading US opinion poll organisation said on Monday releasing the results of Gallup surveys conducted in 146 countries in 2011.
Indians were only a little more optimistic than the average adult worldwide with 52 percent saying it was a bad time and only 36 percent saying it was a good time. Europeans were the most pessimistic, with 72 percent saying it was a bad time. Optimism was highest in the Americas, where a still dismal 38 per cent said it was a good time.
All of the top 10 countries where residents were most positive about the job market were developing countries, except Singapore.
Oil-rich Middle Eastern nations took four of the top spots; Saudi Arabia and Oman led internationally with 69 per cent of residents saying it was a good time to find a job, despite relatively high unemployment rates.
Six of the 10 countries with the most negative outlooks were EU countries, with Greeks and the Irish nearly universally saying it was a bad time to find a job.
Residents in eight of the world's 10 largest economies did not think it was a good time to find a job in 2011. Brazil and Germany were the two bright spots in an otherwise gloomy outlook on the availability of jobs; about half of residents in each country said it was a good time to find a job.
Results are based on telephone and face-to-face interviews with approximately 1,000 adults per country, aged 15 and older, conducted in 146 countries and areas in 2011, Gallup said.
( Press Trust of India )
App Developers Get Access To Data Via U.S. Census Bureau's First Public API
Via The Verge: App developers for mobile devices and the web now have the opportunity to mine a trove of data on American habits via the U.S. Census Bureau's first public API that the organization released last week. Developers can tap into statistics from the 2010 Census and the 2006-1010 American Community Survey to build mobile and web apps that sort, display or analyze the (anonymized) population patterns stored there. For example, an app could trace the commuting patterns of every city in america, or display renter and owner information for a neighborhood, the Census Bureau news office explained in a press release. Two web apps are already up: The Age Finder app, built in-house, and the Poverty Status app built by the Cornell Program on Applied demographics.
Microsoft: Surface And Windows 8 To Arrive October 26
Microsoft has confirmed the release date for its new Microsoft Surface in a recent SEC filing. The device will start shipping on October 26 alongside the Windows 8 operating system. However, Microsoft has yet to reveal a price tag for the device. Lacking an official number, rumor vendors have suggested figures like $599 for the Windows RT model and a $999 price for the Windows 8 Pro version. The fact that a date has been set is good news, but there is this fact to consider: if the Microsoft tablet won't surface until the end of October, there's a chance Apple may have a smaller, cheaper, iPad mini out by then. Apple rumorologists have persistently dropped details that hint at a smaller Apple tablet, and the latest crop of rumors even set a date for the unveiling: September 12. (Apple, of course, is mum.) If the Surface is set to tackle a mini iPad head on, price may become even more of a sticking point.
Limited Run Alleges 80 Percent Of Its Facebook Ad Clicks Were Bots
Limited Run, a digital distribution outfit specializing in labels, musicians and artists, has decided to take down its Facebook account after discovering through its custom-built "page logger" that 80 percent of the clicks on its ads that Facebook was charging them for came from bots. The company compared the clicks its ads were getting from about 6 name-brand analytics services before building a custom tool to verify the results. "They all lined up," Tom Mango, co-founder, told Fast Company. "Once that happened, we stopped our campaign."
Limited Run (formerly known as Limited Press) posted a message describing its discoveries on its Facebook page, including the following sum-up, which is careful to avoid blame: "Bots were loading pages and driving up our advertising costs. So we tried contacting Facebook about this. Unfortunately, they wouldn't reply. Do we know who the bots belong too? No. Are we accusing Facebook of using bots to drive up advertising revenue. No. Is it strange? Yes."
Limted Run explains that its custom platform recorded the number of page viewers who didn't have JavaScript enabled. According to the company's own analytics tool 80% of the clicks Facebook was charging for came from machines without JavaScript enabled. This confounds analytic software trying to verify the click is genuine, and, more importantly in the company's experience only one to two percent of its human visitors had the feature disabled. The conclusion: Bots in action.
Mango told Fast Company that the trouble started when the company decided to change its name from "Limited Press" to "Limited Run" and started experimenting with advertising campaigns on Facebook. Facebook did not responded to the company about the issues its raised about clicks (and has not responded yet), but an advertising account manager at Facebook did finally call in about the company's requested name change. The company didn't qualify for a name change because, per Facebook policy, a name is locked in for an account with more than 200 Likes the accounts person explained, but if Limited Run spent an extra $2,000 on advertising per month, the name change would be possible. At this point Limited Run balked and decided to shut down their account entirely.
Not before it got its message out, however. "We want to make sure that the people who do follow us on Facebook can see our post and why we're leaving," Mango says. "We'll shut it down in the next couple of weeks."
Peter Jackson Uses Facebook To Reveal Third Hobbit Film
Peter Jackson has been using social media a lot during his production of The Hobbit movie, keeping audiences engaged, informed and excited long before the Winter 2012 debut of the first part of his film adaptation of the famous novel...and today he used Facebook to reveal some incredible news: The Hobbit will be a three-film release, not a twosome as had previously been decided. Quoting J.R.R. Tolkien himself, who noted the story was "a tale that grew in the telling," Jackson explained he couldn't resist taking this unique chance to tell more of the story of hobbits exploring Middle Earth.
Olympics Attendees Asked To Cool It With The Tweets
Social media, and Twitter in particular, is playing a big role in Olympics activity and coverage this year. Twitter had its designated page set up for curated audience and network presenter tweets via a high-profile deal with NBC, and even a plan to turn the London Eye into a giant mood ring, colored by the tweets of audience members at the events in London. Enthusiastic tweeters have been asked to cool off though, since a volley of tweets and text messages sent during the men's road cycling race clogged networks and cut off television commentators from GPS communication and timing information. (This prompted television viewers to turn to Twitter to tweet their disappointment.) An International Olympic Committee spokesperson said the issue was localized to one network, and the issue was being corrected, Reuters reports. He also asked fans to "take it easy" on the tweets and messages unless it was "urgent."
After South Korea Telecom Hack, 8.7 Million Customers' Details Sold To Telemarketers
South Korea's KT Telecom has suffered a protracted months-long hack attack that has seen hackers gain access to 8.7 million of its customers--about half its entire user base. Names, ID numbers, and phone numbers were taken by the hackers and then sold to telemarketers. Two hackers made around $880,000 in profits from the hack and sale. Both of the hackers and seven individuals who'd bought the data have now been arrested, which is why the event has been revealed to the world in the form of an official apology from KT to the public, and it's not expected that the data was used for more than the telemarketing stunt. But it's significant for being one of the few hack attacks that was used for profit, and also that led to arrests. KT's stock price has fallen in the time since the news was announced.
Via The Verge: App developers for mobile devices and the web now have the opportunity to mine a trove of data on American habits via the U.S. Census Bureau's first public API that the organization released last week. Developers can tap into statistics from the 2010 Census and the 2006-1010 American Community Survey to build mobile and web apps that sort, display or analyze the (anonymized) population patterns stored there. For example, an app could trace the commuting patterns of every city in america, or display renter and owner information for a neighborhood, the Census Bureau news office explained in a press release. Two web apps are already up: The Age Finder app, built in-house, and the Poverty Status app built by the Cornell Program on Applied demographics.
Microsoft: Surface And Windows 8 To Arrive October 26
Microsoft has confirmed the release date for its new Microsoft Surface in a recent SEC filing. The device will start shipping on October 26 alongside the Windows 8 operating system. However, Microsoft has yet to reveal a price tag for the device. Lacking an official number, rumor vendors have suggested figures like $599 for the Windows RT model and a $999 price for the Windows 8 Pro version. The fact that a date has been set is good news, but there is this fact to consider: if the Microsoft tablet won't surface until the end of October, there's a chance Apple may have a smaller, cheaper, iPad mini out by then. Apple rumorologists have persistently dropped details that hint at a smaller Apple tablet, and the latest crop of rumors even set a date for the unveiling: September 12. (Apple, of course, is mum.) If the Surface is set to tackle a mini iPad head on, price may become even more of a sticking point.
Limited Run Alleges 80 Percent Of Its Facebook Ad Clicks Were Bots
Limited Run, a digital distribution outfit specializing in labels, musicians and artists, has decided to take down its Facebook account after discovering through its custom-built "page logger" that 80 percent of the clicks on its ads that Facebook was charging them for came from bots. The company compared the clicks its ads were getting from about 6 name-brand analytics services before building a custom tool to verify the results. "They all lined up," Tom Mango, co-founder, told Fast Company. "Once that happened, we stopped our campaign."
Limited Run (formerly known as Limited Press) posted a message describing its discoveries on its Facebook page, including the following sum-up, which is careful to avoid blame: "Bots were loading pages and driving up our advertising costs. So we tried contacting Facebook about this. Unfortunately, they wouldn't reply. Do we know who the bots belong too? No. Are we accusing Facebook of using bots to drive up advertising revenue. No. Is it strange? Yes."
Limted Run explains that its custom platform recorded the number of page viewers who didn't have JavaScript enabled. According to the company's own analytics tool 80% of the clicks Facebook was charging for came from machines without JavaScript enabled. This confounds analytic software trying to verify the click is genuine, and, more importantly in the company's experience only one to two percent of its human visitors had the feature disabled. The conclusion: Bots in action.
Mango told Fast Company that the trouble started when the company decided to change its name from "Limited Press" to "Limited Run" and started experimenting with advertising campaigns on Facebook. Facebook did not responded to the company about the issues its raised about clicks (and has not responded yet), but an advertising account manager at Facebook did finally call in about the company's requested name change. The company didn't qualify for a name change because, per Facebook policy, a name is locked in for an account with more than 200 Likes the accounts person explained, but if Limited Run spent an extra $2,000 on advertising per month, the name change would be possible. At this point Limited Run balked and decided to shut down their account entirely.
Not before it got its message out, however. "We want to make sure that the people who do follow us on Facebook can see our post and why we're leaving," Mango says. "We'll shut it down in the next couple of weeks."
Peter Jackson Uses Facebook To Reveal Third Hobbit Film
Peter Jackson has been using social media a lot during his production of The Hobbit movie, keeping audiences engaged, informed and excited long before the Winter 2012 debut of the first part of his film adaptation of the famous novel...and today he used Facebook to reveal some incredible news: The Hobbit will be a three-film release, not a twosome as had previously been decided. Quoting J.R.R. Tolkien himself, who noted the story was "a tale that grew in the telling," Jackson explained he couldn't resist taking this unique chance to tell more of the story of hobbits exploring Middle Earth.
Olympics Attendees Asked To Cool It With The Tweets
Social media, and Twitter in particular, is playing a big role in Olympics activity and coverage this year. Twitter had its designated page set up for curated audience and network presenter tweets via a high-profile deal with NBC, and even a plan to turn the London Eye into a giant mood ring, colored by the tweets of audience members at the events in London. Enthusiastic tweeters have been asked to cool off though, since a volley of tweets and text messages sent during the men's road cycling race clogged networks and cut off television commentators from GPS communication and timing information. (This prompted television viewers to turn to Twitter to tweet their disappointment.) An International Olympic Committee spokesperson said the issue was localized to one network, and the issue was being corrected, Reuters reports. He also asked fans to "take it easy" on the tweets and messages unless it was "urgent."
After South Korea Telecom Hack, 8.7 Million Customers' Details Sold To Telemarketers
South Korea's KT Telecom has suffered a protracted months-long hack attack that has seen hackers gain access to 8.7 million of its customers--about half its entire user base. Names, ID numbers, and phone numbers were taken by the hackers and then sold to telemarketers. Two hackers made around $880,000 in profits from the hack and sale. Both of the hackers and seven individuals who'd bought the data have now been arrested, which is why the event has been revealed to the world in the form of an official apology from KT to the public, and it's not expected that the data was used for more than the telemarketing stunt. But it's significant for being one of the few hack attacks that was used for profit, and also that led to arrests. KT's stock price has fallen in the time since the news was announced.
Top Stories
India's central bank, Deloitte see lower growth, higher prices
A day before its expected decision on interest rates, the Reserve Bank of India laid out a grim scenario of lower growth and higher inflation for the nation's economy. It also urged quicker stimulus action from the government. Separately, Deloitte forecast Indian growth below 6.5% and persistent inflation worsened by food prices in a spotty monsoon season.
Eurozone sentiment declines as Morgan Stanley predicts grim future
The July economic sentiment indicator for the eurozone declined to 87.9 from 89.9 in June, and The consumer confidence index dropped to -21.5 from -19.8, according to the latest reading from the European Commission. Meanwhile, Morgan Stanley's new outlook for the eurozone is for continued austerity measures taking a harsh toll across most of Europe, with only a few bright spots to relieve the broadly grim picture.
Spain posts third consecutive quarter of falling GDP
Spain recorded a third consecutive quarter of economic contraction, with output declining 0.4% in the latest period, principally due to lagging domestic demand. For the full year, the government now predicts a 1.5% shrinkage in gross domestic product, to be followed by a further 0.5% pullback in 2013.
Despite gloom, U.K. central bank isn't expected to budge on rates
Despite recent indicators that the U.K. economy remains in the mire and upcoming manufacturing figures that are projected to be dismal, the Bank of England's Monetary Policy Committee is expected to leave interest rates at 0.5%. It is widely hoped that London's staging of the Olympics will provide a boost in the third quarter, but any stimulus is believed unlikely to prevent overall economic shrinkage for the year.
Shanghai hopes to oust Hong Kong as Asia's top financial center
Shanghai has formidable obstacles to overcome before it has a chance of achieving its goal of replacing Hong Kong as Asia's most important financial center.
Banks reportedly help in Euribor case; U.K. seeks quick action on Libor
A number of banks suspected of manipulating the euro interbank offered rate are reported to be working with EU authorities to avoid heavy penalties. Meanwhile, the U.K. government is pursuing swift Libor reform to limit damage to London's standing as a financial center.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
U.S. investors largely marked time Monday awaiting word from central banks this week on what, if any, action they intend to take to stimulate the global economy. The S&P 500 ended the day nearly flat. In Europe, however, the mood was more buoyant in anticipation, with the Euro Stoxx 50 climbing 1.7%. Here is a continuously updated list of global stock indexes.
Economic Trends & Outlook
Japan's low industrial output surprises; Korean confidence ebbs
In a surprise to economists who projected a 1.5% gain for Japanese industry for June, the final reading showed a 0.1% decline, partly undermined by the strength of the yen in a struggling global economy. Meanwhile, South Korea's manufacturer confidence index looking ahead to August is pegged at 70, down from 81 for July, the country's central bank reported.
List of S. Korea's top companies undergoes transformation over 7 years
The seven years since 2005 have seen a nearly two-thirds turnover in the list of the 20 leading large-cap companies on South Korea's Kospi. Rapidly changing economic trends and the global economic meltdown are believed to have contributed to the wide-scale change.
China offers selective aid to carefully boost real estate market
Despite wariness over the tendency of China's real estate market to overheat, the China Banking Regulatory Commission is offering credit backing for new buyers in the market looking to build modest homes. "Previously, speculators dominated the market, but the government has stepped up efforts to change that. ... Such selective easing will ensure that prices don't rise too much," said Joe Zhou, head of research for Jones Lang LaSalle in Shanghai.
Commercial property defaults in South Korea raise concern
In a worrying sign, South Korea's default rate for loans backed by commercial property reached 1.44% at the end of May for six leading banks, topping even the 0.93% for housing-related loans. The high rate is seen as a troubling indicator for the South Korean economy as a whole, given commercial property's closer links to economic activity.
Capital Markets & Financial Products
Despite gains in Asia, HSBC posts lower net income
Asia was a bright spot for London-based HSBC Holdings as it posted an overall 8.3% decline in net income for the first half. The result was weighed down by $2 billion set aside for penalties associated with allegations that the bank helped launder Mexican drug money. In Asia, however, pretax profit excluding Hong Kong climbed 17% to $4.37 billion.
Beijing clears first provincial bond issue since 1994
Beijing has approved the planned issue of 10.4 billion yuan in bonds by China's Zhejiang province, the first of an expected series of local issues. The plan is the first since 1994, when the central government barred bonds and budget deficits by local governments amid concerns over the debt they were running up.
2012 may be record year for Chinese investment in U.S.
After reaching a record $3.6 billion in the first half of 2012, China's investments in the U.S. are expected to set a full-year record as well, according to a report by Rhodium Group. The inflow could help the U.S. economy during its current stretch of low growth. "Chinese investment in the U.S. offers great potential and will help stabilize growth in the next decade," said Ge Shunqi, deputy head of the Institute of International Economics at Nankai University in Tianjin.
Hang Seng Bank posts strong 14% gain in profit
Hong Kong lenders may be riding out Europe's debt troubles better than expected, as suggested by a wider-than-anticipated 14% jump in Hang Seng Bank's profit for the first half. "Hang Seng's lending profitability continued to widen in the first half after improvements in the second half of last year, which is very encouraging, given the current operating environment," said Ivan Li, deputy head of research at Kim Eng Securities Hong Kong.
U.S.-based SkyBridge plans Hong Kong office, Asia fund
SkyBridge Capital, a U.S. fund of hedge funds, has laid plans for an office in Hong Kong as it looks to a vibrant future in China's hedge fund industry. The tentative 2014 opening would follow SkyBridge's planned launch of a Singapore office early next year and the introduction of an Asia-focused fund of $250 million to $500 million by the end of 2013.
Ravneet Gill has been tapped as chief of Deutsche Bank's India operations. Gill, formerly head of capital markets and treasury solutions, succeeds Gunit Chadha, who took on a larger role at the bank last month.
India's central bank, Deloitte see lower growth, higher prices
A day before its expected decision on interest rates, the Reserve Bank of India laid out a grim scenario of lower growth and higher inflation for the nation's economy. It also urged quicker stimulus action from the government. Separately, Deloitte forecast Indian growth below 6.5% and persistent inflation worsened by food prices in a spotty monsoon season.
Eurozone sentiment declines as Morgan Stanley predicts grim future
The July economic sentiment indicator for the eurozone declined to 87.9 from 89.9 in June, and The consumer confidence index dropped to -21.5 from -19.8, according to the latest reading from the European Commission. Meanwhile, Morgan Stanley's new outlook for the eurozone is for continued austerity measures taking a harsh toll across most of Europe, with only a few bright spots to relieve the broadly grim picture.
Spain posts third consecutive quarter of falling GDP
Spain recorded a third consecutive quarter of economic contraction, with output declining 0.4% in the latest period, principally due to lagging domestic demand. For the full year, the government now predicts a 1.5% shrinkage in gross domestic product, to be followed by a further 0.5% pullback in 2013.
Despite gloom, U.K. central bank isn't expected to budge on rates
Despite recent indicators that the U.K. economy remains in the mire and upcoming manufacturing figures that are projected to be dismal, the Bank of England's Monetary Policy Committee is expected to leave interest rates at 0.5%. It is widely hoped that London's staging of the Olympics will provide a boost in the third quarter, but any stimulus is believed unlikely to prevent overall economic shrinkage for the year.
Shanghai hopes to oust Hong Kong as Asia's top financial center
Shanghai has formidable obstacles to overcome before it has a chance of achieving its goal of replacing Hong Kong as Asia's most important financial center.
Banks reportedly help in Euribor case; U.K. seeks quick action on Libor
A number of banks suspected of manipulating the euro interbank offered rate are reported to be working with EU authorities to avoid heavy penalties. Meanwhile, the U.K. government is pursuing swift Libor reform to limit damage to London's standing as a financial center.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
U.S. investors largely marked time Monday awaiting word from central banks this week on what, if any, action they intend to take to stimulate the global economy. The S&P 500 ended the day nearly flat. In Europe, however, the mood was more buoyant in anticipation, with the Euro Stoxx 50 climbing 1.7%. Here is a continuously updated list of global stock indexes.
Economic Trends & Outlook
Japan's low industrial output surprises; Korean confidence ebbs
In a surprise to economists who projected a 1.5% gain for Japanese industry for June, the final reading showed a 0.1% decline, partly undermined by the strength of the yen in a struggling global economy. Meanwhile, South Korea's manufacturer confidence index looking ahead to August is pegged at 70, down from 81 for July, the country's central bank reported.
List of S. Korea's top companies undergoes transformation over 7 years
The seven years since 2005 have seen a nearly two-thirds turnover in the list of the 20 leading large-cap companies on South Korea's Kospi. Rapidly changing economic trends and the global economic meltdown are believed to have contributed to the wide-scale change.
China offers selective aid to carefully boost real estate market
Despite wariness over the tendency of China's real estate market to overheat, the China Banking Regulatory Commission is offering credit backing for new buyers in the market looking to build modest homes. "Previously, speculators dominated the market, but the government has stepped up efforts to change that. ... Such selective easing will ensure that prices don't rise too much," said Joe Zhou, head of research for Jones Lang LaSalle in Shanghai.
Commercial property defaults in South Korea raise concern
In a worrying sign, South Korea's default rate for loans backed by commercial property reached 1.44% at the end of May for six leading banks, topping even the 0.93% for housing-related loans. The high rate is seen as a troubling indicator for the South Korean economy as a whole, given commercial property's closer links to economic activity.
Business sentiment drops in South Korea
Europe's unresolved debt crisis has weighed on business sentiment in South Korea, with July's Business Survey Index falling to 71, down from 82 in June. It was the third consecutive of decline, with weaker domestic demand also a factor.
Capital Markets & Financial Products
Despite gains in Asia, HSBC posts lower net income
Asia was a bright spot for London-based HSBC Holdings as it posted an overall 8.3% decline in net income for the first half. The result was weighed down by $2 billion set aside for penalties associated with allegations that the bank helped launder Mexican drug money. In Asia, however, pretax profit excluding Hong Kong climbed 17% to $4.37 billion.
Beijing clears first provincial bond issue since 1994
Beijing has approved the planned issue of 10.4 billion yuan in bonds by China's Zhejiang province, the first of an expected series of local issues. The plan is the first since 1994, when the central government barred bonds and budget deficits by local governments amid concerns over the debt they were running up.
2012 may be record year for Chinese investment in U.S.
After reaching a record $3.6 billion in the first half of 2012, China's investments in the U.S. are expected to set a full-year record as well, according to a report by Rhodium Group. The inflow could help the U.S. economy during its current stretch of low growth. "Chinese investment in the U.S. offers great potential and will help stabilize growth in the next decade," said Ge Shunqi, deputy head of the Institute of International Economics at Nankai University in Tianjin.
Hang Seng Bank posts strong 14% gain in profit
Hong Kong lenders may be riding out Europe's debt troubles better than expected, as suggested by a wider-than-anticipated 14% jump in Hang Seng Bank's profit for the first half. "Hang Seng's lending profitability continued to widen in the first half after improvements in the second half of last year, which is very encouraging, given the current operating environment," said Ivan Li, deputy head of research at Kim Eng Securities Hong Kong.
U.S.-based SkyBridge plans Hong Kong office, Asia fund
SkyBridge Capital, a U.S. fund of hedge funds, has laid plans for an office in Hong Kong as it looks to a vibrant future in China's hedge fund industry. The tentative 2014 opening would follow SkyBridge's planned launch of a Singapore office early next year and the introduction of an Asia-focused fund of $250 million to $500 million by the end of 2013.
People & Personalities
Ravneet Gill to head Deutsche Bank's Indian operations
Ravneet Gill to head Deutsche Bank's Indian operations
Ravneet Gill has been tapped as chief of Deutsche Bank's India operations. Gill, formerly head of capital markets and treasury solutions, succeeds Gunit Chadha, who took on a larger role at the bank last month.
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The menu of the first dinner served to the first-class passengers of the ill-fated liner Titanic on April 10, 1912 has been sold for 46,000 pounds at an auction.
Hors d'oeuvre, roast duckling, fillet of veal and French ice cream were some of the dishes in the opulent menu of the first dinner served on Titanic at the start of the voyage.
It was among 400 items being auctioned in Wiltshire in South West England as part of the 100th anniversary of the ship's sinking in the Atlantic Ocean, the 'BBC news' reported.
The affluent menu is dated 10 April 1912, three days before the liner hit an iceberg on her maiden voyage and sank, killing 1,522 people.
"Menus from the Titanic are among the most sought after memorabilia from the doomed liner," Andrew Aldridge, of Henry Aldridge and Son Auctioneers, said.
The menu itself was the property of Charles Caswell, a first class steward, aged 34, from Southampton.
Caswell sent the menu to his wife Hilda when Titanic stopped at Queenstown, but he later died when the ship sank.
Also featured in the sale was a gold medal awarded to the rescue ship Carpathia's Second Officer James Bisset.
He later became Commodore of the Cunard line.
"After the survivors of the Titanic disaster were picked up by the Carpathia, a committee was formed by a group of surviving First class passengers to reward the crew of the Carpathia and the Captain Sir Arthur Rostron with the silver loving cup and medals for all of the crew," said Aldridge.
"This is only the second gold Carpathia medal to be offered in the last 25 years and is thought to be the most senior officer's medal to ever to go under the auctioneers hammer," Aldridge added.
The medal sold for 41,000 pounds, the report said.
Hors d'oeuvre, roast duckling, fillet of veal and French ice cream were some of the dishes in the opulent menu of the first dinner served on Titanic at the start of the voyage.
It was among 400 items being auctioned in Wiltshire in South West England as part of the 100th anniversary of the ship's sinking in the Atlantic Ocean, the 'BBC news' reported.
The affluent menu is dated 10 April 1912, three days before the liner hit an iceberg on her maiden voyage and sank, killing 1,522 people.
"Menus from the Titanic are among the most sought after memorabilia from the doomed liner," Andrew Aldridge, of Henry Aldridge and Son Auctioneers, said.
The menu itself was the property of Charles Caswell, a first class steward, aged 34, from Southampton.
Caswell sent the menu to his wife Hilda when Titanic stopped at Queenstown, but he later died when the ship sank.
Also featured in the sale was a gold medal awarded to the rescue ship Carpathia's Second Officer James Bisset.
He later became Commodore of the Cunard line.
"After the survivors of the Titanic disaster were picked up by the Carpathia, a committee was formed by a group of surviving First class passengers to reward the crew of the Carpathia and the Captain Sir Arthur Rostron with the silver loving cup and medals for all of the crew," said Aldridge.
"This is only the second gold Carpathia medal to be offered in the last 25 years and is thought to be the most senior officer's medal to ever to go under the auctioneers hammer," Aldridge added.
The medal sold for 41,000 pounds, the report said.
( Press Trust of India )