SEOUL South Korea’s Samsung Electronics Co Ltd (005930.KS) will consider splitting itself into two as proposed by U.S. activist hedge fund Elliott Management, Seoul Economic Daily reported on Monday citing an unnamed source. A split would allow the heirs of the founding Lee family to strengthen their grip on the global smartphone leader, the crown jewel of the Samsung Group business empire. Elliott proposed a split in […]
It’s laudable that Trump wants to bring factories back to USA. But how about virtual, monetary factories? Moving financial institutions such as banks, insurers, brokerage houses, exchanges, and other institutions brings the most bang for the buck when it comes to revitalizing America’s economy. As we explain in Splitting Pennies, even though money doesn’t exist, it’s the most important part of a healthy economy. The business climate […]
Volkswagen signed a deal on Sunday to assemble cars in Algeria in a joint venture with its local car importer SOVAC, aiming for a production capacity of more than 100 vehicles per day from June 2017, VW and Algerian officials said. The cars will be assembled at a $170 million plant in the western province of Relizane, Algerian Industry Minister Abdesselam Bouchouareb said at a signing ceremony […]
By Elias Biryabarema | KAMPALA KAMPALA The Ugandan authorities said on Sunday 41 tribal insurgents and 14 police officers were killed in clashes in the west of the country, and the tribal king of the area near the border with the Democratic Republic of Congo was detained. The police, who announced the death toll on Twitter, said the clashes took place in the Rwenzori region, where there […]
ABU DHABI // Even though Sunday was a working day, there was a holiday atmosphere on Yas Island where thousands of fans flocked to the big race. Marie Jacob, 35, from South Africa, travelled from Dubai with her friends to watch the race, arriving about 3pm. “I am too excited and it’s one of the most thrilling races in the world,” she said. Ms Jacob has been […]
JERUSALEM — The Israeli military said it had killed four militants linked to the Islamic State on Sunday after they attacked Israeli forces in the Golan Heights. The confrontation appeared to be the first of its kind between Israel and Islamic State-affiliated forces based in Syria. It was not immediately clear if the militants’ attack was spontaneous or if it signaled a possible change of policy by […]
Construction vehicles waste fuel by remaining on full power whilst idle. New research is working to make vehicles more fuel efficient and cheaper with electrical systems, say investigators. (via WSJ)
By Edward Taylor and Jan Schwartz | FRANKFURT/HAMBURG FRANKFURT/HAMBURG Just as Porsche and Audi have fought for supremacy on the race track, the Volkswagen brands are now locked in a cut-throat battle to develop and manufacture the next generation of electric cars at a group embroiled in the “Dieselgate” scandal. Volkswagen Group denies that the kind of internal rivalry that it encouraged at the Le Mans 24 […]
Israeli aircraft killed four Islamic State-linked gunmen on Sunday after they fired mortars and shot at troops patrolling along the occupied Golan Heights, the military said. Israel has often responded to errant fire from the Syrian civil war, but exchanges of fire with gunmen on the Golan have been rare since the fighting began more than five years ago. The militants fired at the Israeli soldiers, who […]
By Stephen Grey and Jack Stubbs | LONDON/MOSCOW LONDON/MOSCOW A little-known Russian businessman from St Petersburg has provided properties to multiple women who share one common theme: President Vladimir Putin. One of the women is Putin’s younger daughter; two are close relatives of a woman Russian media have reported to be Putin’s girlfriend – though the president has strongly denied any relationship. And a fourth is a student […]
By Alexandria Sage | LOS ANGELES LOS ANGELES Volvo’s North American CEO, Lex Kerssemakers, lost his cool as the automaker’s semi-autonomous prototype sporadically refused to drive itself during a press event at the Los Angeles Auto Show. “It can’t find the lane markings!” Kerssemakers griped to Mayor Eric Garcetti, who was at the wheel. “You need to paint the bloody roads here!” Shoddy infrastructure has become a […]
By Supriyo Hazra | KOLKATA, India KOLKATA, India An overpass under construction in the bustling Indian city of Kolkata collapsed on Thursday on to vehicles and street vendors below, killing at least 14 people with more than 100 people feared trapped. Residents used their bare hands to try to rescue people pinned under a 100-metre (110-yard) length of metal and cement that snapped off at one end […]
As Wall Street traders departed for Thanksgiving this week, they could celebrate a rare achievement. On Monday and Tuesday, the four most widely cited indices of US stocks — the S&P 500, the Dow Jones Industrial Average, the Nasdaq Composite and the Russell 2000 — hit all-time highs simultaneously. The last time a “grand slam” happened was on New Year’s Eve 1999, at the height of the […]
Photo A frefighter in Beit Meir, near Jerusalem, on Friday. Fires, which began on Tuesday, have erupted throughout the country. Credit Ahmad Gharabli/Agence France-Presse — Getty Images JERUSALEM — Twenty-two people had been arrested on suspicion of arson or incitement to arson, security officials said on Friday, as Israel continued to battle its worst wildfires in years. The fires, which began on Tuesday, have erupted throughout the […]
Ashley Lane rounds up the winter activities in destinations ranging from Monaco and Manila to Brazil and Antarctica. • Read this and more stories in Ultratravel magazine, out with The National on Thursday, November 24 newslide Monaco Though temperatures are lower than normal, heading to Monaco in December means fewer crowds and lower prices. There are also plenty of festivals and activities to keep visitors busy. Those […]
Global Manufacturing and Industrialisation Summit will enable discussion on standardising new technologies for industry-wide applications Current lack of standardisation means developing Internet of Things technologies are unable to communicate universally, limiting their potential Abu Dhabi, UAE, November 25, 2016 The Global Manufacturing and Industrialisation Summit (GMIS) will further global discussions and spur international action on emerging technology standardisation, said Ludovica Alcorta, Director of the Development Policy, […]
Video Suicide Bomber Kills Dozens in Iraq At least 80 people, many of them Shiite pilgrims visiting from Iran, were killed when a suicide bomber detonated a truck packed with explosives at a service in the southern city of Hilla on Thursday. Publish Date November 24, 2016. Photo by Alaa Al-Marjani/Reuters. Watch in Times Video » ERBIL, Iraq — At least 80 people, many of them Shiite […]
Billionaire investor Wilbur Ross, known on Wall Street as the “king of bankruptcy” for his record of buying failing companies, will be tapped as Donald Trump’s commerce secretary, putting an advocate of renegotiating US trade pacts in a key economic post. Mr Ross was a close adviser to Mr Trump during his campaign and helped develop the president-elect’s policies for corporate tax cuts, increased infrastructure spending and […]
BEIRUT, Lebanon — Turkish soldiers were killed on Thursday by Syrian warplanes while fighting inside Syria for the first time since the civil war there began in 2011, the Turkish military announced. Three soldiers were killed and 10 others wounded, the military said. The troops were advancing toward Al Bab, a city in the north held by the Islamic State, close to the border with Turkey. The […]
A little over two years ago, a lone vehicle made a landing on a surface of another world and by doing so sent a message to ours. The vehicle was Nasa’s Curiosity rover, the world was Mars and the message was that a new space race had begun. While it may be a less theatrical race than the one to the moon, the celestial ambition is certainly […]
LONDON Britain made fewer cars last month for the first time in more than a year, driven by slower domestic demand and prompting the industry’s lobby group to renew its call for the government to maintain free trade as Britain leaves the European Union. Overall output fell by an annual 1 percent to 151,795 units in October, the Society of Motor Manufacturers and Traders (SMMT) said on […]
A 90-metre sculpture made from 31 aluminium-clad steel tablets will grab the attention on Commemoration Day. Nick Leech was given an exclusive tour of the structure at the memorial park when it was being put together by British artist Idris Khan “What are monuments?” asks the British artist Idris Khan, designer of the memorial that will act as the focus for Commemoration Day on November 30. “The […]
As night fell on June 15, volunteers at the Birstall Wellbeing Centre in West Yorkshire were preparing for their usual Wednesday group session. The centre offers Reiki healing, palm readings and holistic massage. Rebecca Walker, who opened the centre eight years ago, is haunted by that night in June. At about 6.30pm, a man in his 50s walked through the door. He was thin, on the short […]
By Bernie Woodall | DETROIT DETROIT Automakers in the United States are ramping up holiday sales promotions ahead of Black Friday, aiming to clear out bulging inventories of unsold cars and dispel investor doubts about consumer demand. Detroit automakers need a strong year-end sales push. They are sitting on hefty inventories of unsold sedans, compact cars and sports cars as consumers shift to pickup trucks and SUVs. […]
