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World markets tumble
World stock markets swooned again Tuesday as the global financial crisis caused investors to worry that asset prices have yet to hit rock bottom. World stock markets swooned again Tuesday as the global financial crisis caused investors to worry that asset prices have yet to hit r... more
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Coke is world's most valuable brand
Google is fastest-rising brand and Ford fell the most, according to report
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A nervous Asia watches U.S. financial turmoil
Economies might not be as insulated from America’s as once thought
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French Court fines eBay over fake goods
A French court has ordered eBay to pay 40m euros (£31.6m; $63m) to luxury goods group LVMH for allowing online auctions of fake copies of its goods.
LVMH said eBay's French site had not done enough to stop the sale of counterfeit bags and perfumes.
The brands affected include Louis Vuitton, Christian Dior and Givenchy.
An eBay statement said LVMH was trying to "protect uncompetitive commercial practices at the expense of consumer choice" and added that it would appeal.
Vanessa Canzini, an eBay spokeswoman, said: "If counterfeits appear on our sites, we take them down swiftly, but today’s ruling is not about our fight against counterfeit.
"Today’s ruling is about an attempt by LVMH to protect uncompetitive commercial practices at the expense of consumer choice and the livelihood of law-abiding sellers that eBay empowers everyday.
"We will fight this ruling on their behalf; we will be seeking leave to appeal.”
According to the judgement, eBay must pay 19.28m euros in damages to Luis Vuitton Malletier, 17.3m to Christian Dior Couture and 3.25m to the perfume brands.
The BBC's Hugh Schofield in Paris says the ruling is seen as a landmark, because it could oblige eBay to rethink its business model.
Until now, this has been built around the simple notion of bringing together buyers and sellers, with minimal supervision from the company.
The penalty is the second in a month imposed on eBay by French courts.
End Exceprt A French court has ordered eBay to pay 40m euros (£31.6m; $63m) to luxury goods group LVMH for allowing online auctions of fake copies... more -
Helio Flames Out!
Helio "Don't Call me a Phone Company" Mobile was acquired from Korea's SK Telecom today by Sir Richard Branson's (of the UK of those not in the know) Virgin Mobile USA for a down right cold $39 Million - a meer $230 per subscriber.
[Via Engadget]
Q&A from Helio's Website:
HELIO and Virgin Mobile USA are teaming up to combine our strengths and deliver a better mobile experience. On June 27th Virgin Mobile USA announced that it had signed an agreement to acquire HELIO.
HELIO gains access to Virgin Mobile USA’s extensive distribution network and broad customer base, while Virgin Mobile USA gains access to HELIO’s exclusive, high-end devices and premium services. Both companies look forward to coming together to bring exciting prepaid and postpaid opportunities to their customers.
Q: What does this mean for current HELIO members? Can I still use my HELIO device, while keeping my HELIO service plan and number?
A: Current service plans will continue without interruption – it will be business as usual. HELIO members are at the center of this transaction and we’ll continue to bring them the innovative mobile services they’ve come to expect.
Q: Can new members still sign up for HELIO service?
A: Absolutely. HELIO will continue to offer exclusive, high-end devices and our innovative All-In plans.
Q: Will the HELIO brand be retained, or will everything migrate to Virgin Mobile USA?
A: Over time, we expect that all aspects of the customer experience will be integrated under the Virgin Mobile USA brand. Integration of the direct sales channel will begin immediately, and we expect that existing HELIO products and services will soon be offered through the Virgin Mobile USA website at www.virginmobileusa.com.
Q: So what’s next?
A: We’re excited by the possibilities our new, combined team offers. We have some big ideas, but as you can imagine, a little bit of housekeeping is in order before we share them. Stay tuned!
Q: Does this affect my current contract with HELIO in any way? When Virgin Mobile USA does acquire HELIO, can I end my current contract without paying an early termination fee (ETF)?
A: HELIO contracts remain in effect and unchanged by this transaction. HELIO members who wish to end their contract early will still be subject to an early termination fee (ETF). Helio "Don't Call me a Phone Company" Mobile was acquired from Korea's SK Telecom today by Sir Richard Branson... more -
Go back to school - across the globe
My alma mater is launching a really cool MBA program where students complete their degree in 11 months traveling through campuses in 5 cities across the world. My alma mater is launching a really cool MBA program where students complete their degree in 11 months traveling through campuses in 5... more
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Qatar, the least corrupt Middle Eastern nation?
I travelled to Qatar in the middle East to work alongside other documentary film makers and explore Transparency International's claim that Qatar is the least corrupt of all Arab nations. What does this mean? what is life like for residents? The Amir now allows parliamentary elections but why is his power unaffected by these supposedly democratic processes? these questions are all explored as well as the issue of where power lies in the nation and what may be in store for it's future. I travelled to Qatar in the middle East to work alongside other documentary film makers and explore Transparency International's ... more
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Sandals That Save
All around super human Mathew Meyer started a recycled sandal company in Africa that directly benefits the natives who make them in a cooperative business in Nairobi. All around super human Mathew Meyer started a recycled sandal company in Africa that directly benefits the natives who make them in a ... more
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Sri Lanka is cashing in on distressed jeans.
Jeans are a closet must-have. In Sri Lanka, basic 5 pocket denim jeans cost $6 dollars to make and 13 minutes to cut and sew on the pockets, but takes 4 days and cost $12 dollars to distress them. Sri Lanka's three-billion dollar garment industry is more than half its annual seven billion dollars of export earnings providing jobs for nearly one million people. Nearly all the garments are shipped to the United States and the European Union. "In an attempt to get an advantage over the competition, Sri Lanka is trying to position itself as an ethical manufacturer in the hope of getting greater access to the US and European markets at lower duty rates. 'We have high labour standards. We don't employ child labour, we provide rural employment and we empower women. There are no anti-dumping cases against us on trading practices," said Suresh Mirchandani, chief executive of Favourite Garments.'" Striving towards better business practices abroad- a plus! There is a long way to go regarding fair labor practices overseas, but improvements are positive. The $250 dollar retail cost of jeans that cost $12 to make- OUTRAGEOUS. Jeans are a closet must-have. In Sri Lanka, basic 5 pocket denim jeans cost $6 dollars to make and 13 minutes to cut and sew on the p... more
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U.S. to merge with Mexico and Canada?
Salon: In his new book, "The Late Great USA: The Coming Merger With Mexico and Canada," Jerome Corsi weaves a sprawling theory in which multinational companies, the Bush administration, the Council on Foreign Relations, Democratic-leaning college professors and the governments of Mexico and Canada, among others, are all working -- not necessarily together, but in harmony -- to create a "North American Union." This NAU, Corsi says, will be similar to the European Union, breaking down national boundaries, establishing a single North American currency and potentially even leading to a rewriting of the Bill of Rights. Salon: In his new book, "The Late Great USA: The Coming Merger With Mexico and Canada," Jerome Corsi weaves a sprawling theo... more
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Should corporate America hate Europe or envy it?
Slate: Today's politico-financial elite seem genuinely confused about the imminent threat posed by Europe. Either Europe is a Socialist redoubt where invasive government, high taxes, and the quaint insistence on maintaining a social welfare safety net deter innovation, entrepreneurship, and growtha state of affairs Americans must avoid like the plague. Or perhaps it's a capitalist haven that is kicking the tar out of the United States with its low corporate tax rates and gentle securities regulationpolicies the United States should emulate. Slate: Today's politico-financial elite seem genuinely confused about the imminent threat posed by Europe. Either Europe is a Soc... more
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International Business
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International Business
