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China ends one-child policy for all families
Lifestyle, 4:01
<p>The Communist Party has lifted the one-child policy for all families in China. Now all families will be allowed to have two children.</p> <p>In 2013, Beijing softened the rule, allowing urban families to apply for the right to have a second child if both parents were only children and if their first child was a girl. Rural families have long enjoyed the "girl" exemption.</p> <p>The restrictions date back to 1979 when China was worried about overpopulation.</p> <p>The official government Xinhua news agency reported the announcement on Thursday at the conclusion of the plenum that meets every five years, saying the move was made to correct an imbalance in the population, the South China Morning Post reports. China has a shortage of women and its population is aging.<br /> Photo: Lori Scott</p>
Winning wines
Lifestyle, 4:01
<p>, the world's largest online luxury marketplace, has teamed up with Zachys Wine Auction for their final auction of the Fall 2015 Hong Kong season. The event will feature rare collections from over 1,000 lots, selected and sourced by industry experts. </p> <p>As a connoisseur of luxury items, Luxify is looking forward to reaching out to the growing local market of fine and rare wines and spirits. </p> <p>"Hong Kong is an exciting hub where people have a passion for what they drink. They take pride in collecting some of the most special and rarest editions," says Florian Martigny , co-founder of </p> <p>He adds that to settle into the bubbling market, he has “clinked forces with Zachys Wine Auction, an experienced veteran with a pulse of the region”. </p> <p>Highlights will feature 149 bottles of Domaine de la Roman e e-Conti, 36 cases of Bordeaux from the legendary 1982 vintage, almost all in original wood case and will finish with some of the rarest Scottish and Japanese Whiskies. </p> <p>The auction starts at 9:30am Hong Kong time on October 31 at the JW Marriott in Hong Kong  and is expected to rake in up to US$6.2 million.<br /> Photo: Todd Van Hoosear<br /> &nbsp;</p>
How to become а successful negotiator: tips from game-theory consultant and TEDx speaker Peter Nixon
<p>20 years ago, Peter Nixon took the road less travelled – between becoming a partner at one of the largest auditing firms and creating a new startup he had a passion for, he chose the latter. He became an expert in negotiation and strategic dialogue.</p> <p>To date, Nixon has influenced tens of thousands of professionals through training, coaching and consulting in over 50 countries. His clients over the years have included Morgan Stanley, Merrill Lynch, JP MorganChase, Standard Chartered Bank, Swire Coca-Cola, Disney, Nike and senior government officials in several countries.</p> <p>Based in Hong Kong, work ranges from sales and procurement, to change management as well as intra and intergovernmental negotiations. He is best known for his book ‘The Solution is in the Dialogue’, which he gave a Tedx talk on in 2014.</p> <p>Nixon joked that his career choice had to do with his upbringing in Montreal, Canada – the ice hockey capital of the world, “when somebody bothers you in that culture,” he said, mimicking the actions, “you drop your gloves, flick your helmet off and dare him to fight.”</p> <p>After extensively traveling, over time, he became more sensitive to different cultures around the world; he no longer believes in the aggressive black-and-white thinking from the West to be a solution to problems. Instead, “The solution is in the dialogue” has become his newly-adopted mantra. “I want to tell the world that I think there is a problem about the way we are confronting the problems we are dealing with,” Nixon described his calling in promoting dialogue.</p> <p>His model of dialogue is based on Nobel Prize Winner John Nash’s game theory of “Governing Dynamics”, which proved that the desired outcome is always possible. With the optimal outcome in mind, Nixon developed a set of communication techniques that help us to talk to each other in the right way. In order to achieve the best outcome for everyone, he emphasises that, “other than achieving what you want, it is also essential to understand and aim at what is best for the other party.”</p> <p>Drawing on last year’s Occupy Central as an example, Nixon describes that “on the surface, they look like really opposing parties but underneath there is a lot of common ground.” He made an effort to talk to students, government officials, businesses, people taking to the streets, tourists coming to watch and parents looking for their kids, and during this time, he observed a lot of common goals that could be resolved by better-facilitated dialogues. “Everybody wanted to talk about the movement during the period,” Nixon said, “but nobody had a clue how to manage a dialogue, and as a result, they have fallen below getting the best outcome.” It is situations like this that motivates him to educate people on how to negotiate.</p> <p>Like most high-powered executives, Nixon always has a lot on his plate. On top of constantly being on the road to speak and consult internationally, he has recently developed a mobile app as a tool for negotiation, and is planning to publish his third book on the subject. Nevertheless, he comes across as an exceptionally calm and collected person, and Nixon attributes this partly to his lifestyle in Discovery Bay (DB), an upscale residential area of Hong Kong.</p> <p>Before moving to Hong Kong, he had never been to Asia. “I am an adventurer and I came for the adventure.” This adventure took him to DB, where he has now spent over 20 years and raised three kids. Instead of going to the city every day, Nixon has a private office in DB close to his home that he calls his “nest”. “I come in the office, put on some music, maybe burn some incense, though very rarely, and get into the zone that leads to great work.” More importantly, the lifestyle in DB allows him to be close to nature. “Nature is my regular way to reconnect. I would say I wrote my books on hikes across Lantau. You would come back with great ideas, then sit down to write the book.” To him, DB is the place to recharge his batteries and become high-energy again after catching a short ferry rid
Money can't buy everything for Sanford Weill
Lifestyle, 4:01
<p>Former Citigroup CEO Sanford Weill and his wife Joan are withdrawing their $20 million donation to Paul Smith's College.</p> <p>The tiny school in the Adirondack mountains needs the money, but Weill only wants to hand it over if the school changes its name to Joan Weill-Paul Smith's College, reports BuzzFeed. Unfortunately for the billionairess, that isn't an option. A judge has ruled that the school's founding documents prohibit a name change.</p> <p>"It was a naming gift, so without the court allowing us to go forward there was no money," Bob Bennett, a school spokesman, told the New York Times last week.</p> <p>Joan Weill became interested in the Adirondack's only four-year school as a Weill family vacation home is nearby. Weill has already donated enough money for the school to build a student center and library, both named after Joan.<br /> Photo: David Shankbone</p>
Relax like Hillz
Lifestyle, 4:01
<p>Hillary Clinton was the Queen of Calm during her 11-hour hearing with the Benghazi commission. Her secret? Meditation.</p> <p>Clinton told NPR that she tried to meditate between breaks, and she practices yoga to help remain calm, reports Quartz.</p> <p>So breathe deep. If Hillz can mediate to keep her cool while getting pummeled by Republicans for hours on end, you have nothing to worry about in your next client meeting.<br /> Photo: VictoryNH: Protect Our Primary </p>
Video: James Bonds by the numbers -- and they are big
Lifestyle, 4:01
<p>Via CNBC</p> <p>&nbsp;<br /> Photo: Audrey Larrive</p>
My heart will go on
Lifestyle, 4:01
<p>UK Prime Minister David Cameron’s ardent embrace of President Xi Jinping last week has borne rapid fruit. The China State Shipbuilding Corp, the country’s biggest shipbuilder, is set to ink a £2.6 billion ($3.9 billion) joint venture with Britain's Carnival Corp, the world's largest cruise ship operator, Mainland news website said.</p> <p>The deal, which would create a new domestic cruise line brand, would help to develop China's luxury cruise-line industry. The first of five vessels built by Waigaoqiao Shipbuilding will launch in 2020.</p> <p>“The ships' displacement of 130,000 tonnes will be more than twice that of the Titanic. The ships will measure more than 300m long - the Titanic was 269.1m long - and have the capacity to hold 5,000 passengers,” reports SCMP, perhaps a tad mischievously.</p> <p>The Titanic famously sank on its maiden voyage in 1912 with the loss of 2,334 lives after striking an iceberg.<br /> Photo: cliff</p>
John Cleese would like to teach you the ‘Ten golden rules of equity investing’
Lifestyle, 4:01
<p>Here’s something completely different. John Cleese, star of Monty Python and Fierce Creatures, has taken a break from the Ministry of Silly Walks to team up with Aberdeen Asset Management and narrate some of its investment cartoons.</p> <p>Here’s what they call the ninth golden rule:</p> <p>Former model, Bond girl, and Wolf of Wall Street actress Joanna Lumley also did some voice-overs for the firm, this time, for the cartoon’s “Seven deadly sins of multi-asset investing” segment. Here’s what they call the first sin:</p> <p>The cartoons were apparently adapted from booklets Aberdeen produced for beginner investors, and can be seen in their entirety at the firm's magazine channel, “Thinking Aloud.”</p> <p>Now if they could only get Sean Connery to explain the yield curve…<br /> Photo: Flanders DC</p>
Life on the London trading floor at Citigroup
Lifestyle, 4:01
<p>The epicentre of the investment bank is, of course, still the trading floor. This is the battleground where traders and salesmen and women return every day armed only with strong coffee, the Financial Times and the latest batch of analyst notes, to pit their skill and intellect against the capricious nemesis that are the financial markets – and hopefully win.</p> <p>Just at Citigroup’s London HQ, you will find more than 1,000 of these men and women working for the bank’s EMEA Markets and Securities Services (MSS) division which includes rates, commodities, credit, FX, equities, and investor services. All of the heads of division sit in London, except for credit, who based in New York.</p> <p>They sit across two expansive floors, with FX and rate traders and salespeople on one floor and credit and equities sitting cheek-to-cheek on the other. They work only for the bank’s institutional client base. Citigroup never had a proprietary trading desk in the same way as some of the other investment banks and so the commodity desk is less affected by the Volcker Rule than other banks.</p> <p>The boss of the division is Leonardo “call me Leo” Arduini, a Citigroup veteran who took over the role in March 2014 after being promoted from his previous position as head of EMEA investor sales. He has been with the bank for 21 years, covering many trading, sales and management roles.</p> <p>He became head of markets in Italy in 2010 and since then his career has been on the rise, clearly proving his salt in a challenging period. It certainly hasn’t gotten easier since he took the helm of EMEA Markets with heightened volatility in most financial markets, a result of geopolitical and economic uncertainty for the best part of 2015.</p> <p>In the bank’s third quarter until the end of September, Citigroup’s Markets division suffered an overall year-on-year 5% dip in revenue, with fixed income dragging on performance, down 16% to $2.6 billion from $3.06 billion in the same period in 2014.</p> <p>In addition, there has been the delicate matter of a global regulatory investigation into widespread foreign exchange rate manipulation, which Citigroup has been cooperating with.</p> <p>But challenging environments have become the new normal for banks and time will tell if Mr Arduini is up to the job to steer the US bank’s key EMEA trading operations in the right direction.</p> <p>A tour of Citigroup’s trading floors proves slightly disappointing for your correspondent, but not unexpected. No excitable and cryptic hand signals to execute a trade and no adrenaline-fuelled shouts of “buy” and “sell”.</p> <p>There are lots of screens with fast-moving red and green lines, but traders go about their business quietly and the only sounds are the low hum of the air conditioner and snippets of conversation.</p> <p>For a long time, the business of trading most markets – with the exception of the commodities exchange in Chicago – has not been a spectator sport, but there is an intense energy on these floors and the sense that there is a lot riding on the minute-by-minute actions of the people that work here.</p> <p>“The trading floor is not like it was 20 years ago, and with less liquidity because of a number of factors such as higher capital requirements, it is also much more difficult for a bank to make money,” says one insider. “Citigroup is in good shape because it has been hugely slimmed down after the crisis, but hasn’t pulled out of any markets or geographies as our </p>
The world’s richest banked $8.7 billion last Friday
Lifestyle, 4:01
<p>The world’s richest did pretty well for themselves last Friday, banking $8.7 billion among themselves with Warren Buffett leading the pack with a $1.9 billion single-day win. As much as I like IKEA chief Ingvar Kamprad however, his $846 million loss that day kind of merits this Price is Right horn.</p> <p>Best day for the world's richest people ever? The top 9 averaged almost $1B each today.<br /> — ForexLive (@ForexLive) October 23, 2015</p> <p>Let’s see how they do this week.<br /> Photo: OnInnovation</p>