Tag Archives: Says

HNA Technology says in preliminary talks to sell Ingram Micro
December 24, 2018 6:00 pm|Comments (0)

HONG KONG (Reuters) – China’s HNA Technology Co Ltd is in preliminary talks to sell U.S. electronics distributor Ingram Micro Inc, as part of its parent group’s efforts to trim operations.

Discussions were at an early stage, HNA Technology, a listed arm of Chinese conglomerate HNA Group Co [HNAIRC.UL], said in a filing to the Shanghai stock exchange.

No agreement has been signed yet, HNA Technology said.

“Due to changes in market conditions and the company’s strategy, the company is in talks with a concerned party on selling Ingram Micro,” it said in the exchange filing.

Reuters reported on Friday that HNA Group was in talks to sell Ingram Micro to private equity firm Apollo Global management LLC, citing a source familiar with the matter.

HNA Technology said in September it had $ 3.55 billion of outstanding debt from the purchase of Ingram Micro, of which $ 350 million was due for payment this year.

Reporting by Meg Shen; Editing by Kirsten Donovan

Tech

Posted in: Uncategorized|Tags:
Canada says China has granted consular access to second detainee
December 17, 2018 12:01 am|Comments (0)

Canadian businessman Michael Spavor arrives next to the former NBA basketball player Dennis Rodman (not pictured) after a trip to North Korea, at Beijing Capital International Airport, Beijing, China January 13, 2014. Picture taken January 13, 2014. REUTERS/Kim Kyung-Hoon

OTTAWA (Reuters) – Canadian diplomats received consular access on Sunday to the second of two men detained by China over the past week, Canada’s foreign ministry said in a statement that gave few details.

John McCallum, Canada’s ambassador to Beijing, met Michael Spavor, the statement said. Spavor and Michael Kovrig were both picked up after Canada arrested a senior Chinese executive on a U.S. extradition request.

Canadian Prime Minister Justin Trudeau – who said on Friday the detentions were unacceptable – told CTV his government was taking the situation very seriously.

“We have engaged with the Chinese officials to determine what exactly conditions are they being detained under? Why are they being detained?” he said in an interview aired on Sunday. McCallum met Kovrig for the first time in Friday.

U.S. Secretary of State Mike Pompeo said on Friday that China should free the two men.

Spavor, a businessman, and Kovrig, a former diplomat, were detained after Canadian police arrested Huawei Technologies Co Ltd’s chief financial officer, Meng Wanzhou, on Dec 1.

U.S. prosecutors accuse Meng of misleading multinational banks about Iran-linked transactions, putting the banks at risk of violating U.S. sanctions. Meng, who is the daughter of Huawei’s founder, has said she is innocent.

Trudeau told CTV that Canada would continue trying to build up trading ties with China.

“We need to do so in a way that is true to our values and stands up for Canadians’ interests, and getting that balance right is complex. (It) has been made more difficult by recent trends,” he said.

Reporting by David Ljunggren; Editing by Peter Cooney

Tech

Posted in: Uncategorized|Tags:
Exclusive: Trump says he could intervene in U.S. case against Huawei CFO
December 12, 2018 12:01 am|Comments (0)

U.S. President Donald Trump sits for an exclusive interview with Reuters journalists in the Oval Office at the White House in Washington, U.S. December 11, 2018. REUTERS/Jonathan Ernst

WASHINGTON (Reuters) – U.S. President Donald Trump said on Tuesday he would intervene in the Justice Department’s case against a top executive at China’s Huawei Technologies [HWT.UL] if it would serve national security interests or help close a trade deal with China.

Huawei’s Chief Financial Officer Meng Wanzhou was arrested in Canada Dec. 1 and has been accused by the United States of misleading multinational banks about Iran-linked transactions, putting the banks at risk of violating U.S. sanctions.

When asked if he would intervene with the Justice Department in her case, Trump said in an interview with Reuters: “Whatever’s good for this country, I would do.”

“If I think it’s good for what will be certainly the largest trade deal ever made – which is a very important thing – what’s good for national security – I would certainly intervene if I thought it was necessary,” Trump said.

A Canadian court on Tuesday granted Meng bail while she awaits a hearing for extradition to the United States, a move that could help placate Chinese officials angered by her arrest.

Trump also said the White House has spoken with the Justice Department about the case, as well as Chinese officials.

“They have not called me yet. They are talking to my people. But they have not called me yet,” he said when asked if he has spoken to Chinese President Xi Jinping about the case.

Reporting by Jeff Mason and Steve Holland; Editing by Bill Rigby

Tech

Posted in: Uncategorized|Tags:
Warren Buffett Says Building This One Skill Is the Easiest Way Increase Your Worth By At Least 50%
December 11, 2018 12:01 pm|Comments (0)

Warren Buffett is like that old E.F. Hutton commercial (and I’m dating myself here)–when he talks, people listen. And they listen because he talks and writes, quite well. Which brings us to his latest gem of advice.

“Invest in yourself. One easy way to become worth 50 percent more than you are now at least is to hone your communication skills. If you can’t communicate, it’s like winking at a girl in the dark, nothing happens. You can have all the brain power in the world but you’ve got to be able to transmit it.”

It’s almost like Buffett consulted me first before answering (which I can assure you he did not). In my over 25 years of corporate experience, without question, the most common trait I saw among those leaders who performed the best and rose the fastest through the ranks was that they had superior communication skills.

Buffett has even said that he doesn’t hang his college or graduate school diplomas on his office walls, but he hangs his certificate from when he completed the Dale Carnegie communication course– because it changed his life. Before overtly working on his communication skills, Buffett said, “I was terrified of public speaking when I was in high school and college. I couldn’t do it. I mean I would throw up and everything.”

So how can you be included in the group of fast-rising, non-vomitous leaders?

In case you’re not ready to sign up for a full-on course, here are two powerful ways you can get started immediately:

Make “clear and concise” your mantra.

When I was doing research for my first book, Make It Matter, a survey of over 1,000 executives revealed the No. 1 problem in communication is a lack of clarity and precision. I offer an acronym to help you cut to the chase and keep your communications SHARP:

  • Start by thinking, not talking. “I think out loud” is the enemy of clear and concise.
  • Hone in on the main idea quickly. Don’t wander, or they’ll wonder what your point is.
  • Add details sparingly. Don’t over-explain. Give just as much context as is necessary.
  • Relate to the audience. Think through who you are talking to and why, and tailor your approach accordingly.
  • Prepare. “Winging it” and clarity are like the snake and the mongoose (mortal enemies).

Be a non-verbal ninja.

So much of our communication is unspoken. It’s critical to be tuned into non-verbal communication–which you can practice. I use this reminder to keep non-verbal cues top of mind and avoid letting poor non-verbal skills FESTER:

  • Facial expressions–watch for them.
  • Eye contact–maintain it (without being creepy).
  • Space–keep the appropriate amount between you and others.
  • Tones–listen carefully for the tone in someone’s voice.
  • Expressive motions–be alert for cues like fist pounding or fingers excitedly wagging.
  • Real frame of mind–as seen in their posture.

So whether your goal is to raise your net worth or just your relatability, make 2019 the year you brought your communication skills to the next level. Maybe eye level. Like the diplomas on my office wall.

Published on: Dec 11, 2018

Like this column? Sign up to subscribe to email alerts and you’ll never miss a post.

Tech

Posted in: Uncategorized|Tags:
Russia says detention of China's Huawei CFO shows U.S. arrogance
December 7, 2018 12:01 pm|Comments (0)

Russian Foreign Minister Sergei Lavrov arrives for a news conference on the sidelines of the Organization for Security and Co-operation in Europe (OSCE) summit in Milan, Italy, December 7, 2018. REUTERS/Alessandro Garofalo

MILAN (Reuters) – Russian Foreign Minister Sergei Lavrov said on Friday that the detention of Chinese technology giant Huawei’s chief financial officer in Canada was an example of “arrogant” U.S. policy abroad.

Speaking at a news conference in Milan, Lavrov said the detention showed how Washington imposes its laws beyond its jurisdiction.

Huawei CFO Meng Wanzhou, 46, who is also the daughter of the company founder, was arrested on Dec. 1 at the request of the United States. The arrest, revealed by Canadian authorities late on Wednesday, was part of a U.S. investigation into an alleged scheme to use the global banking system to evade U.S. sanctions against Iran, people familiar with the probe told Reuters.

Reporting by Crispian Balmer; writing by Tom Balmforth and Maria Kiselyova; Editing by Peter Graff

Tech

Posted in: Uncategorized|Tags:
American Airlines CEO Says Customer Service Isn't the Priority (Have a Guess What Is)
November 25, 2018 12:00 pm|Comments (0)

Absurdly Driven looks at the world of business with a skeptical eye and a firmly rooted tongue in cheek. 

Consistently, the airline has become a symbol of too many things that are wrong with air travel.

It’s managed to put itself in a We Don’t Really Care About Passengers corner. 

It seems to find it hard to emerge from that.

In a conversation with employees reported by View From The Wing’s Gary Leff, an American pilot told Parker that there seems to be a reluctance to offer customer service to passengers, even when the flight won’t be leaving on time.

He told the story of a connecting customer who said they’d left their phone and laptop on a flight and no American employee wanted to help. 

They’re all told, you see, that the priority is the so-called D0, the determination to push back on time to the detriment, some might say, of customer service.

You know, those little things like the pre-flight drinks the more exalted customers adore.

Parker offered these extremely honest and revealing words: 

The most important thing to customers is that we deliver on our commitment to leave on time and get them to the destination as they have scheduled.

But isn’t pushing back on time just one aspect of a greater good? That the customer should feel good on your airline and want to come back.

This, it strikes me, has been American’s singular difficulty of late.

I can’t remember whether the flight pushed back on time. I do remember, however, her strained and abject attempts to provide the minimum customer service she could.

The consequence, for me at least, has been to avoid American and choose other airlines. 

Am I alone in reacting this way?

I used to fly American a lot. I used to actively choose it because it flew bigger planes from San Francisco to New York and seemed a good enough airline.

Parker is right that customers want to get to their destination on time. But isn’t it a little like restaurant customers who say they want good food?

If they get cold, disinterested service, I suspect many will happily give up the food for a restaurant that makes them feel good.

A greater difficulty for Parker is that there are airlines that are admired for their customer service and their reliable approach to arriving on time.

Delta, for example, seems to manage this rather well. Despite flying some tatty old planes. 

Perhaps the real problem is that Parker transposes his own beliefs about what should be important into his customers.

He wants the focus to be on-time departure because he believes the airline will make more money that way.

If the planes are always on time, the system rolls along nicely and there are no unexpected costs.

Which reminds me of a T-shirt I used to wear, a long time ago. On it, a woman looks up at her lover and explains: “There’s more to life than snogging, Barry.”

Tech

Posted in: Uncategorized|Tags:
Germany says EU should revise, delay digital tax plan
November 6, 2018 12:00 pm|Comments (0)

FILE PHOTO: German Finance Minister and vice-chancellor Olaf Scholz attends the weekly cabinet meeting in Berlin, Germany August 1, 2018. REUTERS/Joachim Herrmann//File Photo

BRUSSELS (Reuters) – Germany’s Finance Minister Olaf Scholz said on Tuesday the European Commission should revise its plan for a EU-wide tax on large digital companies and stressed the new levy should be applied only if there is no global deal by the summer of 2020.

Speaking to EU finance ministers at a streamed meeting in Brussels, Scholz also said that a revised proposal should reduce the scope of the tax and exclude the sale of data and the internet of things – sectors that if included could result in the taxation of German carmakers.

Reporting by Francesco Guarascio; Editing by Matthew Mpoke Bigg

Tech

Posted in: Uncategorized|Tags:
Intel says more women, blacks in workforce after diversity push
October 30, 2018 12:00 am|Comments (0)

FILE PHOTO: The Intel logo is shown at E3, the world’s largest video game industry convention in Los Angeles, California, U.S. June 12, 2018. REUTERS/Mike Blake/File Photo

SAN FRANCISCO (Reuters) – Intel Corp has increased the ratio of women and African-Americans in its workforce after three years of a high-profile effort to improve diversity, the U.S. microchip maker said in a report released on Monday.

Intel still lags behind several large U.S. technology companies in terms of women and ahead of many for African Americans and Hispanics, the report showed. Chronic underrepresentation of minorities has been a source of concern for years at tech companies.

Overall, women comprised 26.8 percent of Intel’s U.S. workforce in 2018, up from 24.7 percent in 2015. Women in leadership positions grew to 20.7 percent from 17.7 percent.

The percentage of African Americans at Intel has risen to nearly 5 percent from 3.5 percent in 2015 and Hispanics rose to 9.2 percent from 8.3 percent.

“Although we are among the leaders in African American representation in the tech industry, we are still not satisfied,” Barbara Whye, Intel’s chief diversity and inclusion officer said by email. The company will continue to work with historically black colleges and the Oakland Unified School District in California, she added.

Without providing figures, Intel said it had reached “full representation” two years ahead of its goal based on skilled minorities in the available workforce.

In 2015, Intel established a $ 300 million fund to be used by 2020 to improve diversity. Whites make up 46.2 percent of the workforce at the company, and Asians 38.9 percent, according to Intel.

Intel’s African American 2018 representation was better than at Facebook Inc, Alphabet Inc, and Microsoft Corp, according to the companies’ latest data.

But its female representation was behind Facebook, Alphabet, Amazon.com Inc, Apple Inc , and only ahead of Microsoft.

Reporting By Jane Lanhee Lee; Editing by Richard Chang

Tech

Posted in: Uncategorized|Tags:
Tesla Is Facing a ‘Deepening Criminal Probe’ About Misleading Investors on Its Model 3 Production, Report Says
October 27, 2018 12:00 am|Comments (0)

Tesla, the pioneering electric-car manufacturer that posted blowout earnings this week, may be facing an FBI investigation over investor communications it made regarding the production levels of its Model 3 sedans, the Wall Street Journal said Friday.

Earlier this month, Tesla settled with the SEC over charges that it misled investors after CEO Elon Musk tweeted that he had secured funding to take Tesla private. The SEC, which alleged that the tweets were fraudulent, at first sued Musk, before reaching a settlement that required Musk and Tesla to each pay $ 20 million in fines, while finding an independent chairman to replace Musk.

According to the Journal, Tesla the FBI “has intensified” its investigation into whether Tesla misstated data on the production of its Model 3, its lowest-priced sedan. Tesla has invested heavily in the Model 3 production, adding to losses in recent quarters. Last quarter, however, Model 3 sales pushed Tesla into the black.

In a statement, Tesla disputed some of the Journal’s report. “Earlier this year, Tesla received a voluntary request for documents from the Department of Justice about its public guidance for the Model 3 ramp,” a Tesla spokesperson said in a statement to Fortune. “We have not received a subpoena, a request for testimony, or any other formal process, and there have been no additional document requests about this from the Department of Justice for months.”

The Journal reported that former Tesla employees, who received subpoenas earlier in the investigation, have been contacted in recent weeks by the FBI for further testimony.

Musk told investors on earnings calls that Tesla would be producing between 5,000 and 20,000 Model 3s per month by the end of 2017, the Journal said. In reality, Tesla ended up producing only 2,700 Model 3’s for all of 2017. The FBI is reportedly investigating such discrepancies.

While Tesla admits it did not meet its early and ambitious production goals, it said it was “transparent about how difficult it would be… and that we were entering ‘production hell.’” Tesla further noted that “it took us six months longer than we expected to meet our 5,000 unit per week guidance,” but that its approach has been “to set truthful targets – not sandbagged targets that we would definitely exceed and not unrealistic targets that we could never meet.”

Tesla’s stock, which rose 5.2% Friday during official trading, was down 1.8% in after-hours trading.

Tech

Posted in: Uncategorized|Tags:
Toyota says in talks with Geely on cooperation in hybrid vehicle tech
September 6, 2018 12:00 pm|Comments (0)

BEIJING (Reuters) – Toyota Motor Corp said on Thursday it is in talks with Chinese automaker Geely about cooperation in gasoline-electric hybrid vehicle technology, but nothing has been decided on the matter.

The Toyota logo is shown at the Los Angeles Auto Show in Los Angeles, California, U.S., November 30, 2017. REUTERS/Mike Blake

The move comes as Japan’s biggest automaker has been increasingly embracing new automotive technologies for future growth, and has also embarked on a strategy to ramp up sales in China, the world’s biggest auto market.

Toyota said in a statement to Reuters that it and Geely are currently “communicating with each other” about gasoline-electric hybrid technology.

It was not immediately clear in what aspects of the hybrid technology Geely and Toyota are discussing cooperating.

A person familiar with the matter, however, said that the talks apparently involve a Chinese supplier of electric battery technology both companies have already been associated with but separately. Toyota declined to comment on the specifics of the cooperation.

“Toyota has been conducting the business with the open policy which also applies to the area of electrification technologies. The relationship with Geely (Toyota is exploring) is also based on this open policy,” the statement said.

Toyota’s response comes after a Chinese media report said Geely was working with Toyota on the conventional hybrid technology. The report said details on the joint effort would be announced soon.

A Geely spokesman declined to comment.

Toyota, which bet big on gasoline-electric hybrid technology in the late 1990s when it began selling the Prius hybrid, has since localized production of conventional hybrid cars in China and has been selling them here since 2015 under the Corolla and Levin names.

The company has said it plans to sell plug-in hybrid versions of the Corolla and the Levin next year.

Reporting By Norihiko Shirouzu; Editing by Muralikumar Anantharaman

Tech

Posted in: Uncategorized|Tags: