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Reuters names top 100 global innovators
Lifestyle
<p>Thomson Reuters has announced its top 100 global innovators for 2015. The fifth annual award is given to companies that have at least 100 unique inventions patented over the most recent five-year period, have a global presence, and be rated for success and influence by Reuters' metrics.</p> <p>Of the winners, 75% come from the U.S. and Japan. The other fourth come from Belgium, Canada, France, Germany, the Netherlands, South Korea, Sweden, Taiwan. Nearly a third of the U.S. winners come from Silicon Valley.</p> <p>New additions to the 2015 list include:</p> <p> Air Products<br /> Alstom<br /> Amazon<br /> Analog Devices<br /> Bayer<br /> Becton Dickinson<br /> Boehringer Ingelheim<br /> Bridgestone<br /> Bristol-Myers Squibb<br /> Chevron<br /> Exxon Mobil<br /> Idemitsu Kosan<br /> InterDigital<br /> Japan Science &amp; Technology Agency<br /> Johnson Controls<br /> JTEKT<br /> Kawasaki Heavy Industries<br /> Makita Corporation<br /> Mitsui Chemicals<br /> Showa Denko<br /> Solvay<br /> Thales<br /> Toray<br /> Valeo<br /> Yamaha Motor<br /> Yaskawa Electric<br /> Yazaki</p> <p>Photo: Pascal </p>
People Moves: Standard Life loses chairman to Barclays; Deutsche shuffles investment bank
Capital Markets
<p>Standard Life chairman to join Barclays board. Standard Life chairman Gerry Grimstone will replace Michael Rake on the Barclays' board of directors at the end of the year. Rake is leaving to become chairman of Worldpay. New York Times</p> <p>Deutsche shuffles investment bank. Goldman Sachs veteran Alasdair Warren will join Deutsche as head of corporate and investment banking fro Europe, Middle East, and Africa, effective in spring 2016. John Eydenberg and Marc Pandraud were appointed to the newly created roles of vice chairmen of CIB for the Americas and EMEA, respectively. Mark Hantho was named head of equity, and Mark Fedorcik as head of debt capital markets. Wall Street Journal <br /> Photo: ©iStock.com/ooyoo<br /> &nbsp;</p>
People Moves: Wellington managing directors to retire; New River names new portfolio manager
Asset Management
<p>Wellington managing directors to retire. Lucius Hill and Karl Bandtel, both senior managing directors and fund managers, will retire from Wellington Management in June 2016. Hill currently co-manages the $14.2 billion Vanguard Long-Term Investment Grade Fund. Bandtel was managed the $9.2 billion Vanguard Energy Fund since 1992. Pensions &amp; Investments</p> <p>New River Investments hires new portfolio manager. David Schawel will be the portfolio manager of the New River Opportunistic Income fund based in North Carolina. Schawel previously worked as a portfolio manager at Square 1 Financial for eight years. Reuters</p> <p>BNY Mellon Wealth Management names Washington director. Rob Klingensmith will serve as wealth director, reporting to regional president Susan Traver. Klingensmith comes to the firm from Pilatus Bank, where he worked as chief executive of banking operations and oversaw the ultra-high net worth client engagement. Reuters<br /> Photo: ©iStock.com/ooyoo<br /> &nbsp;</p>
Apple CEO Tim Cook to students: ‘The world has a stake in how you do business’
Lifestyle
<p>On Tuesday, November 10, Apple CEO Tim Cook delivered his keynote speech at Bocconi University, Milan — the first time he has addressed a European university, Finbuzz reports.<br /> Among the highlights of his speech, Cook told the assembled students and graduates:</p> <p> I’ve been fortunate to join a company that shares my values, and my great hope for you is that you do the same.<br /> You have before you an incredible opportunity — I would actually call it an obligation — you owe it to yourself and to the rest of the world to be a part of something that serves a noble purpose, however you define it, and you can do that through your work.<br /> Because now more than ever, businesses are in a position to help societies solve their greatest problems. The responsibility should not rest on governments alone. Whether we are talking about climate change or equal rights, the challenges we face are simply too great for businesses to stand on the sidelines, especially today when companies have more capacity to do more good in more ways for more people than at any point in human history.<br /> I hope the students in the audience today hold on to your idealism. Not just as students, but also as graduates, as CEOs and even as presidents.<br /> You really can live with your values and your passion to change the world.<br /> The environment must also be on the business agenda. As business leaders, we have a responsibility to address this, and urgently. We have obligations to our companies and our shareholders because climate change impacts supply chains, energy crises and overall economic stability.<br /> So, what will your success look like? As you consider that question, understand that the whole world has a stake in your answer. The world has a stake in how you do business.<br /> You are citizens of the world. You have a voice to be heard across continents. Use it! Speak up! You are better connected to the rest of the globe that any generation has ever be</p>
A big emerging market ETF will look different very soon
Asset Management
<p>The iShares MSCI Emerging Markets ETF (NYSE: EEM), the second-largest emerging market exchange traded fund by assets, is expected to look different next month as index provider MSCI Inc. (NYSE: MSCI) proceeds with the inclusion of companies with primary exchange listings in countries away from home domiciles in the firm's international benchmarks.</p> <p>Companies traded outside of the country of classification (i.e., "foreign listed companies"), terminology used by MSCI, include well-known Chinese Internet and technology firms such as Alibaba Group Holding Ltd. (NYSE: BABA) and Baidu Inc. (NASDAQ: BIDU). Those companies and others will be added to the MSCI Emerging Markets Index on December 1, which could lure added investments to funds tracking that benchmark of $70 billion or more.</p> <p>KraneShares CSI China Internet Fund (NASDAQ: KWEB). Home to a ...</p> <p>Full story available on Benzinga.com<br /> Photo: Jim Winstead<br /> &nbsp;</p>
Did Bridgewater cause the ETF crash?
Hedge Funds
<p>Ever wondered what caused the August ETF flash crash? Well, Zero Hedge may have your answer.</p> <p>Bridgewater Associates – without a doubt the world’s largest hedge fund house – has recently filed its 13-F and according to the ever-indignant news portal, Ray Dalio and his motley crew of honesty junkies may have been the root of that whole, sordid mess:<br /> “Bridgewater sold 41% of its holdings in the world's two largest EM ETFs in the third quarter amid a rout in developing-nation assets.  Specifically, it cut its investments in Vanguard Group Inc. and BlackRock Inc.’s ETFs to a combined 104 million shares, from 175 million in the previous three-month period.</p> <p>The value of the ETF holdings dropped more than 50 percent to $3.4 billion as a result of share price declines and the divestments.</p> <p>In other words, if anyone is looking for the culprits behind the aggressive ETFlash Crash of August 24, Bridgewater may indeed be a good starting point.”<br /> Whether or not this is true is totally up to speculation, though it is worth noting that Bridgewater’s All Weather Fund was among the first things analysts and fund managers blamed for late August’s startling volatility, and given the fund’s parameters – not to mention size – it doesn’t seem implausible for it to have moved the markets even just the tiniest bit.<br /> Photo: ☰☵ Michele M. F.</p>
Food safety issues cast a shadow over China’s O2O sector
Venture Capital
In China, where public confidence has been shaken by a series of food safety-related scandals, the growth of venture-backed startups developing tech solutions for the country’s fractured supply chains should be welcome. But it’s not that simple. Tech In Asia reports that China’s booming online-to-offline (O2O) sector has been getting some n   egative attention from the jittery Shanghai State Food and&hellip;
Daily Scan: Asia caps the week lower; European shares tumble after Fed moves closer to rate hike
Capital Markets
<p>Updated throughout the day</p> <p>November 13</p> <p>A vicious assault on commodity prices sent Asian shares hurtling on Friday with the Hang Seng Index falling 2.15%, the Shanghai Composite dropping 1.43%, and the Nikkei 225 slumping 0.51%. Overnight, a bevy of Federal Reserve officials in the U.S. began speaking not about when to raise rates but by how much and how quickly. The rest of the region was also in pretty bad shape, ironically fitting today’s date:</p> <p>Day<br /> Week</p> <p>Hang Seng Index<br /> -2.15%<br /> -1.98%</p> <p>Hang Seng China Enterprises Index<br /> -2.19%<br /> -3.58%</p> <p>Shanghai Composite<br /> -1.43%<br /> -0.85%</p> <p>Shenzhen Composite<br /> -2.39%<br /> +2.59%</p> <p>Nikkei 225<br /> -0.51%<br /> +1.63%</p> <p>Straits Times Index<br /> -0.98%<br /> -3.085</p> <p>Shares in Europe aren’t looking that great either. The FTSE 100 – despite strong gains in mining shares – has fallen 0.39% and is currently on track to its worse showing in two months. The DAX 30 and the CAC 40 meanwhile are both trending the wrong way with the former tanking 0.13% while the latter falls 0.10%.</p> <p>Here’s what else you need to know:</p> <p>Suu Kyi's NLD wins Mayanmar election by landslide.  Myanmar's opposition National League for Democracy has won a landslide election victory, officials say, with more than 80% of contested seats now declared. BBC</p> <p>German GDP growth decelerates. German GDP came in at 0.3% for the third quarter, in-line with expectations but still disappointing given that it expanded 0.4% the quarter before. If this keeps up, Merkel’s going to have a real bad time. Financial Times (paywall)</p> <p>U.S. has “Jihadi John” in its cross-hairs. US forces have carried out an air strike targeting the British Islamic State militant known as “Jihadi John,” the Pentagon has said. The extremist was seen in videos of the beheadings of Western hostages. BBC</p> <p>Japan industrial production beats estimates. Japan’s industrial output grew 1.1% in September, just a smidge higher than the forecasted 1% climb but well above August’s 1.2% contraction. Tertiary industry activity however slumped 0.4%, far below expectations of a 0.1% nudge. METI</p> <p>Malaysian GDP growth cools to a two-year low. Malaysia’s GDP growth rate came in at just 4.7% in the third quarter, its slowest growth rate in more than two years. A fall in consumption seems to be the main driver of the fall. Nasdaq</p> <p>Singapore retail sales disappoint. Singaporean retail sales came in at just 4.7% last month, a marked drop from the preceding month’s 6.6% reading, and quite the fall from the expected 6.5% climb. It could’ve been way worse though, had auto sales not surprised to the upside. Investing/Straits Times</p> <p>U.S. flies B-52 bombers near the Spratlys. In another “freedom of navigation” operation, the U.S. flew two B-52 bombers within 12 nautical miles of the Spratly Islands in the South China Sea. The flights came after China parked a few of its J-11 fighter jets on Woody Island, one of the five artificially constructed landmasses in the area. The Hill</p> <p>India PM Modi visits the UK. In a speech to the UK parliament Narendra Modi said current negotiations between the UK and India are a “huge moment for our two great nations.” BBC</p> <p>VW sets November whistle-blower deadline. Volkswagen has set a November end deadline for its whistleblower program designed to encourage workers to disclose information about the carmaker’s two emissions scandals in a move to speed up investigations. Reuters</p> <p>Goldman Sachs promotes 425 people to managing director. Almost 30% of the new managing directors are millennials. About 40% of those were hired at Goldman as entry level analysts, and 20% began as summer interns. Loyalty counts somewhere!Business Insider</p> <p>Deutsche Bank keeps moving executives. The top officials of the investment bank are shifting, with Goldman Sach’s Alasdair Warren appointed as head of corporate and investment banking for EMEA. John Eydenberg will be vice chairman of CIB for the Americas, and Marc
Mint Greens founder James Rogers: How corporate golf is changing
Lifestyle
<p>&nbsp;</p> <p>Golf has always been synonymous with business. But now other sports, as well as a general lack of time, have contributed to a 30 percent decline in golf in the last decade. Seeing the evolving trend, James Rogers decided to found a golf concierge service in London, Mint Greens, to cater to the new corporate way of the sport.<br /> Mint Greens has a confidential agreement with some of the top clubs around London. As they have a portfolio of partner clubs, they can usually find tee times for their clients even during the peak golfing season.<br /> “We are also in a position to help our clients when they are traveling as we have over 200 golf course partnerships overseas,” said Rogers.<br /> Before founding Mint Greens in 2010, Rogers dabbled in law, medical research and software development, as well as advertising.<br /> “I was destined to be a lawyer, did a placement at a big city firm and decided it wasn’t the career for me. I then worked for a medical research organisation and then a software business, where I cut my teeth in marketing.<br /> “My dad was a keen golfer and I have been playing since I was ten years old and realised I could apply my marketing skills to my passion for golf,” he said.<br /> Rogers had the idea of a golf marketing company in 2010 and launched an online service called iSpyGolf.<br /> “Our new business, Mint Greens, has now developed alongside this but is an entirely different service that’s aimed at corporate and executive golfers here in the city. We’ve looked to create a new kind of solution in partnership with top clubs around London that sets new standards of service and value,” says Rogers.<br /> There has reportedly been a 30 percent decline in golf in the US, UK, and Europe since 2004.<br /> “There’s no question that golf is under pressure in the UK, as it is in Europe and the US, though some of our partner clubs are reporting positive noises again from the corporate market. It’s traditional memberships that have suffered in recent years. There are a lot of reasons for this, though I think demand on people’s time these days is the main cause,” he said.<br /> “A lot of people would like to play more golf, but time just doesn’t allow it. But this dip isn’t a phenomenon that’s confined to golf and clubs are beginning to adapt to the changes. For companies like ours, there are opportunities to help the industry by identifying new and more flexible approaches,” said Rogers.<br /> Golf still remains the sport of business, he believes. According to Rogers, recent research still has 97% of senior executives considering golf a great way to establish closer relationships.<br /> But while business still gets done on the golf course, Rogers concedes that corporate budgets are under intense pressure now which makes it difficult for companies to entertain clients on the golf course. New regulations following the banking crisis have had their impact too. Corporate golf days have been scaled back and many companies are opting to spend their time on the golf course in the company of just their key clients.<br /> Amongst Mint Greens’ clients, the financial services sector is the most heavily represented, with other clients drawn from across a broad range of industries including insurance, media and advertising.<br /> The average annual service is £2,500 per year with the flexibility of use within a corporate or executive team. They also have a private executive service for individuals.<br /> “We only launched Mint Greens last summer but we’ve made healthy progress and have a 100 percent renewal rate with our clients so far, so we know we are doing something right,” Rogers says, before explaining that the arrangements are good for the clubs too, delivering extra business and giving them the opportunity to showcase their venue to some influential people.<br /> Gerard Kenny, CEO of Mansion House Consulting, said he would recommend Mint Greens and “their simple, but very effective business model.”<br /> “I have been using Mint Greens for the past year and have been continually impressed wit
Singles' Day reveals the extent of China’s fintech revolution
FinTech
<p>Online shopping records were smashed by China’s ecommerce giants Alibaba and JD.Com on Tuesday as the country celebrated Singles’ Day, an annual consumer holiday that puts Black Friday to shame. It was a big day for e-commerce but it was also a notable milestone for mobile payments, with rival platforms Alipay (Alibaba) and WeChat payments (Tencent) battling for supremacy.</p> <p>Techcrunch reports that of the $14.4 billion transacted by Alibaba - itself is remarkable jump from last year’s tally of $9.3 billion - 69% came via mobile, up from 43% last year. That means around $10 billion was transacted via Alibaba's Alipay.</p> <p>But there was also competition. JD.com – Tencent’s e-commerce partner – didn’t announce its sale figures, but did reveal a 130% jump in single day orders for the same period on the previous year. The company claims 74% of its total orders were placed via mobile platforms, including JD.com's native app and through Tencent’s WeChat - which has it own Alipay payments service embedded - and Mobile QQ’s platform. </p> <p>The day was a major validation of the success of Alibaba’s mobile payments platform, but Tencent and JD.com’s success also proved that the battle for market dominance will be a hard fought.<br /> Photo: Jamz196</p>