Mr McGowan's Learning Blog

The longevity of firms

2012-01-20T13:01:00.002Z

Thought I would share a great article I read on the BBC called: "Can a company last forver"

http://www.bbc.co.uk/news/business-16611040

We all know that when it comes to the product life cycle we sometimes have fads (which have very short lives) whereas classics such as Coca Cola seem to go on forever.

But can this idea be extended from products to actual companies themselves?

I found this incredible: "In Japan, there are more than 20,000 companies that are more than 100 years old, with a handful that are more than 1,000 years old, according to credit rating agency Tokyo Shoko Research."

I struggle to think what could be 1,000 years old in Japan! Possibly farming collectives? Or shipbuilders? I think I may investigate!

In the News...

2012-01-19T10:20:00.001Z

KODAK FILE FOR BANKRUPTCY
Eastman Kodak, the company that invented the hand-held camera, has filed for bankruptcy protection.

The move gives the company time to reorganise itself without facing its creditors, and Kodak said that it would mean business as normal for customers.

The company has recently moved away from cameras to refocus on making printers to stem falling profits.

The 133-year-old firm has struggled to keep up with competitors who were quicker to adapt to the digital era.

EXPORTS HELP UK CAR INDUSTRY
Car production in the UK rose by 5.8% in 2011, industry figures show.

The Society of Motor Manufacturers and Traders (SMMT) said manufacturing had ended the year with a 1.6% rise in December, producing a total of 1,343,810 vehicles in the year.
The SMMT said record exports had been the main driver of growth, with more than 80% of vehicles exported.

Although production rose last year, the SMMT said last week that new car sales in the UK had fallen 4.4% in 2011.

Engine production also rose by 4.9% to just over 2.5 million, despite a modest 1.3% fall in December.

Sources: BBC Business News

FIFA World Cup 2014 and the Power of Sponsors

2012-01-19T10:16:00.002Z

Rea today an interesting article about a clash between FIFA and the Brazilian Government.

"Beer must be sold at all venues hosting matches in the 2014 World Cup in Brazil, football's world governing body, Fifa, has insisted.

Fifa General Secretary Jerome Valcke said the right to sell beer must be enshrined in a World Cup law the Brazilian Congress is considering.

Alcoholic drinks are currently banned at Brazilian stadiums and the country's health minister has urged Congress to maintain the ban in the new law.

Brewer Budweiser is a big Fifa sponsor.

Mr Valcke is visiting Brazil to press for progress on the much-delayed World Cup law.
Fifa has become frustrated, because voting on the legislation has been held up in Congress by the dispute over alcohol sales.

The Brazilian government has also failed to resolve differences with Fifa over cut-price tickets for students and senior citizens, and demands for sponsors of the World Cup to have their trademarks protected"

Source BBC News

It does make one wonder what would happen if Scotland did win a bid to co-host the Euros with one of our Celtic cousins... since Scotland has a ban on alcohol sales within stadia. I am unsure of the current law, but obviously in hospitality boxes drink can be sold to fans.

It will be of interest to see whether Brazil fall in line with FIFA.

Skyscrapers 'linked with impending financial crashes'

2012-01-11T12:09:00.000Z

There is an "unhealthy correlation" between the building of skyscrapers and subsequent financial crashes, according to Barclays Capital.

Examples include the Empire State building, built as the Great Depression was under way, and the current world's tallest, the Burj Khalifa, built just before Dubai almost went bust.
China is currently the biggest builder of skyscrapers, the bank said.

India also has 14 skyscrapers under construction.

"Often the world's tallest buildings are simply the edifice of a broader skyscraper building boom, reflecting a widespread misallocation of capital and an impending economic correction," Barclays Capital analysts said

Source BBC News

World's Most Famous Palindrome

2012-01-11T12:02:00.003Z

Teaching S1 today in ICT we were doing our Citizenship challenge and one of the groups received Panama as their country. I used this to share an interesting piece of knowledge/trivia with my pupils!

Leigh Mercer published an excellent and world famous palindrome (a sentance or word that reads the same backwards as forwards) in 1948 on the topic of Panama.

A MAN
A PLAN
A CANAL
PANAMA!

Check it, it works!

Ten Great Predictions

2012-01-11T12:00:00.002Z

A Happy New Year to everyone.

Here is an excellent BBC article on a man called John Elfreth Watkins who predicted 10 great inventions from over 100 years ago, though he did get a few wrong:

http://www.bbc.co.uk/news/magazine-16444966

NPA Enterprise and Employability at Hamilton Grammar

2011-12-20T12:38:00.002Z

Very proud of the pupils who have done a fantastic job in the NPA class:

http://local.stv.tv/hamilton/news/28786-enterprising-pupils-impress-with-their-product-ideas/

Apprenticeships at Peter Vardy

2011-11-29T19:31:00.021Z

Car dealership chain Peter Vardy is the latest firm to commit to taking on trainees following the success of its Apprentice-style recruitment scheme.

Vardy has rolled out its Rookie Academy for a second year and on a bigger scale with up to 20 jobs up for grabs. More than 200 people applied for the 12-week intensive course which last year saw 11 apprentices taken on from the 400 who applied.

Those recruits attended a series of rigorous assessment days consisting of presentations and role play against each other and with chief executive Peter Vardy.

The rookies were trained in every facet of the car selling trade and in March took up sales positions across the seven dealerships throughout Scotland.

Source: The Scotsman

Shell make £11 billion deal with Iraq

2011-11-29T19:31:00.019Z

Iraq yesterday signed a $17 billion (£11bn) deal with Royal Dutch Shell and Japan’s Mitsubishi to tap natural gas in the south of the country.

The agreement is one of the biggest by the Opec member to develop an energy sector battered by years of neglect and war.

It forms a joint venture to gather, process and market gas from three oil fields in the oil-rich province of Basra. That gas, pumped in conjunction with crude oil, is currently burned off – or flared – due to lack of infrastructure.

The 25-year joint venture is called Basra Gas Company. Iraq will hold a 51 per cent stake, to Royal Dutch Shell’s 44 per cent and Mitsubishi’s 5 per cent holding. The gas will be used mainly for domestic energy needs, but there is also an option for exports.

Iraq’s oil minister, Abdul-Karim Elaibi, hailed the signing as a “historic turn in Iraq’s oil industry”.

Shell chief executive Peter Voser said Iraq is now a “substantial part of Royal Dutch Shell’s portfolio in the Middle East”.

Source: The Scotsman

Scottish Beef Going Down Well in China

2011-11-29T19:31:00.018Z

One country’s misfortune could turn out to benefit beef producers in this country with a recent delegation from China to the UK stating they were now reluctant to import from Japan following March’s earthquake and subsequent nuclear disaster.

The delegates from Henan Provincial Animal Husbandry Bureau met representatives of the National Beef Association who said that it was now more important than ever for the UK to secure a beef export certificate for China.

Hamish McBean, temporary chairman of the NBA, said it was obvious there was a massive demand for premium beef products although it was equally obvious the visitors wanted their country to become self-sufficient in beef.

Currently China imports from Japan, the USA and Canada and home production would need to double before it became self-sufficient.

Provided the UK could secure the much sought-after export certificate for China, there was, claimed McBean, very clearly a market for the best of British beef.

The Chinese delegates, he added, focused on how they could improve the quality and quantity of their beef production, looking at genetics, feeding and meat processing.

By Andrew Arbuckle (The Scotsman)

Toilet Games

2011-11-29T19:31:00.017Z

British company Captive Media thinks it has developed a product that fills a gap in the market - a urinal mounted, urine-controlled games console for men.

It calls it the first "hands-free" video gaming console of its kind.

The sturdy device sits above the normal oval ceramic urinal bowl, opening up a whole new world of entertainment.

The user is presented with three generous targets to aim for in the urinal: stickers in the unit that read "Start", "Left" and "Right".

The console is able to detect where the urine is falling by means of an infra-red device, this is your joystick controls for playing the games!

It reminds me of the fly in the urinal idea implemented in Amsterdam's Schiphol Airport which tried to reduce wastage and spillage by giving tired and bored travellers something to aim at!

And so a rudimentary "joystick" is set up

World's 25 most polluted sunsets

2011-11-29T19:31:00.014Z

And the winner is (according to Bloomberg):

http://www.bloomberg.com/slideshow/2011-11-28/breath-taking-25-most-beautiful-polluted-sunsets.html#slide25

Ulaan Baataar, capital city of Mongolia.

Highland Park

2011-11-29T19:31:00.012Z

The name Highland Park doesn't refer to a Scottish Castle, but rather to the home of the Ford Motor Company. The facility was opened in 1910 in the small city of Highland Park, Michigan, near motown itself Detroit.

Groundbreaking in its day, the 62 acre Highland Park was spacious and much imitated by production plants that followed. The world famous Ford Assembly Line was put into practice at Highland Park in 1913 enabling Ford to produce many more cars than the old fashioned way which resembled job production.

The factory installation also houses a foundry, scores of offices and a power plant.

Eventually Ford moved car production away sometime in the late 1920s, but the legend of Highland Park was well and truly established. Assembling tractors continued though at HP.

From inception, the four-story Highland Park factory was organised from top to bottom. Car assembly began on the fourth floor, where body panels were hammered out, down to the third floor, where workers placed tyres on wheels and painted the car bodywork.

After assembly was completed on the second floor, the brand new cars such as the Model T drove down a ramp past first-floor offices. Ford’s car production increased by 100 percent, from 19,000 in 1910, to 34,500 in 1911, to a staggering 78,440 in 1912.

Ford was obsessed with every person in the USA having a car. He kept on lowering prices to the customers as he himself made savings on production costs. Ford actually slashed his own profits in order to keep sales rising. The Model T was selling in 194 for $99, when five years earlier it had been going fo $220. Market skimming in action?

However, sales kept rising through the roof, hitting a remarkable 248,000 in 1913 and in 1914 his market share of the American market was a near monopolistic 48 percent.

Currently Highland Park is the home of the Henry Ford Museum.

Toyota and the future of small cars

2011-11-29T19:31:00.008Z

Small city cars

In existing cities, autonomously driven cars remain an unlikely prospect for years to come, however, so Japan's carmakers are busy coming up with more immediate solutions to counter growing congestion and pollution.

Honda's Micro Commuter is one of many city solutions on show in Tokyo

Plenty of small city cars will go on show in Tokyo, including tiny electric cars such as Honda's Micro Commuter.

This car includes a peculiar electric motorcycle that can be used for final-miles driving and then its battery can be used to power electrical appliances in the office.

There is also Nissan's Pivo 3, a three-seater electric vehicle that has been gradually modified over the years, making it a likely production model.

Toyota is also showcasing an electric version of its tiny iQ model.

On the open road, where drivers cover greater distances in family-sized cars, the hydrogen-powered fuel cell vehicle is also quickly becoming a reality after decades of research and development.

Toyota, for instance, is showing off its FCV-R "reality and revolution" concept, which promises a 430 miles range and insists it should hit the road in just three or four years.

Until then, drivers wishing for improved efficiency, fuel economy and emissions reductions are being offered a broader range of petrol-electric or diesel-electric solutions.

Should pupils learn more programming?

2011-11-29T19:31:00.007Z

The teaching of computer science must become more relevant to modern needs, said the government.

The government said the current teaching of IT was "insufficiently rigorous and in need of reform".

The call for change came in a response to an industry report which looked at technology teaching in the UK.

Without reform future UK workers would lack key skills and the nation would lose its standing as a video games and visual arts hub, said the report.

The Next Gen report was published in October and criticised current ICT (information and communication technology) classes which tended to focus on how to use software rather than on how to write it.

Written by gaming guru Ian Livingstone and visual effects veteran Alex Hope, Next Gen called for programming skills to replace learning about business software in ICT lessons.

In its response, the Department for Culture, Media and Sport (DCMS) said the report had set out some "compelling" ideas about how to make the UK a hub for video games and visual effects.

Creative industries minister Ed Vaizey said computer games and the visual effects sectors had a clear economic and cultural value.

Britain to join the super fast highway

2011-11-29T19:31:00.004Z

Better broadband networks in 10 cities across the UK are being promised by the government.

In his autumn statement, Chancellor George Osborne announced £5bn of spending on infrastructure projects such as roads, railways and broadband networks.

£100m of that is set to boost broadband coverage in London, Belfast, Edinburgh and Cardiff.

A further six cities will be identified later.

"For the first time we are identifying over 500 infrastructure projects we want to see built over the next decade and beyond. Roads, railways, airport capacity, power stations, waste facilities, broadband networks," the chancellor told the House of Commons.

"It means creating new superfast digital networks for companies across our country. These do not exist today. See what countries like China or Brazil are building, and you'll also see why we risk falling behind the rest of the world," he said.

Why gold is important...

2011-11-29T19:31:00.003Z

I found this great article from here: http://www.thelocal.de/money/20111114-38869.html

I thought it was so interesting I had to share it in its entirety.

THE LONG HISTORY OF GOLD TRADING

Throughout history, gold has been highly valued for coinage, jewellery and the arts. Gold is considered a unique store of value and the symbol of power, strength and wealth. Since April 2001 it has more than quintupled in value, writes Nicolas Shamtanis, Dealing Room Manager at easy-forex.com.

The poet Virgil describes man's underlying lust for gold when he wrote “Auri Sacra Fames” (the accursed thirst for gold). In the 19th century, gold mining expanded around the world with the 1848 California gold rush which helped the settlement of the American West. In 1869, South Africa became a major source of the world’s gold after the discovery of the Witwatersrand basin and the Canadian Yukon gold rush followed in 1896.

Approximately 65% of all the gold in the world has been mined since 1950 and the finite supply of gold adds to its rarity and attraction. But how did it all begin?

Various forms of livestock, in particular cattle, and grains were the earliest forms used to settle trades and payment for good goods and services. Cattle are hard to carry in your pocket and grains spoil so an alternative currency was needed.

In 560 BC, the Greek state of Lydia in Asia Minor introduced the first gold coins. The use of gold coins as currency spread quickly throughout the Mediterranean and Middle East regions. The Romans mined gold extensively and Venice introduced the gold “Ducat” which became the most popular coin in the world for the next 500 years. In 19th century America, a movement to use silver coins and adopt a bimetallic monetary system emerged. The US Congress did not authorise the printing of paper money until 1861.

For most of the early 20th century, Americans were forbidden to buy or trade gold. In 1946, the Bretton Woods agreement fixed the price of gold at $35 an ounce, creating a gold standard and the US dollar (USD) became backed by gold. A gold standard is defined as a monetary system in which the standard economic unit of account is a fixed mass of gold.

The Bretton Woods agreement of fixed exchange rates was implemented to combat deflationary pressures, economic dislocations and currency instability which emerged after World War I and II. Soon after the agreement was signed, the USD became the world’s reserve currency.

In the following years, there were significant strains on the system of fixed exchange rates as the US balance of payments with the rest of the world grew dramatically. Foreign central banks exercised their gold convertibility rights causing a sharp decline in US gold reserves.

In 1971, the Bretton Woods system was abandoned when there was no longer enough gold to cover all the paper money in circulation. The USD became a “fiat” currency backed by nothing more than the health of the US economy and the promise of the US government. A fiat currency’s value is based on the issuing authority's promise to pay; not an intrinsic value or extrinsic backing. In 1974, the ban on US ownership of gold bars was lifted and US citizens were allowed to trade gold.

The end of the gold standard ushered in the current system of floating exchange rates. In 1972, the Chicago Mercantile Exchange (CME) launched futures trading in seven currencies and in 1974 the first gold futures contract was traded on the COMEX exchange in New York. The 1980’s experienced a sharp expansion of over-the-counter trading in currencies and gold and the beginning of online trading.

Recently, we have seen gold prices surging to an all-time high as nations, institutions and investors seek safe haven and are using gold as a hedge against inflation and protection against losses in other assets like stocks and bonds and commodities. Investors buying gold are sometimes called “gold bugs.” Gold bugs are also described as a person opposed to the use of fiat currency and are supportive of a return to the gold standard.

Unlike a fiat currency, money backed by gold cannot be created arbitrarily by government action. The supply of gold is finite and printing of paper limitless. The term gold bug is thought to have been derived from an Edgar Allen Poe poem the “Gold -bug.” In the poem, two adventurers decipher a secret message that leads to a buried treasure.

Since April 2001, the price of gold has more quintupled in value and hit all-time high of $1913.50 in August 2011. The price movement in gold has been quite volatile with prices rising and falling quickly. Investors have shown high levels of interest in trading gold.

Like foreign currency (forex), trading with gold rates does not require the "physical" purchase or sale of the real material. If you buy forex gold for the price of 1850.97USD, you do not have an ounce of gold that you can hold in your pocket, but you rather have the obligation to buy gold (XAU) at $1850.97. When you close your forex deal, you sell the gold and close your obligation. If you sell it for the price of $1853.00, you have made a profit of $2.03 for every ounce (unit) of gold in your contract.

Rising gold prices can also affect other currencies. Higher gold prices can be especially important to the currencies of major gold-producing countries. Australia, Canada and South Africa are all large producers of gold, so if you believe the price of gold will continue to rise, you can establish trades in the Australian dollar (AUD), the Canadian dollar (CAD) or the South African Rand (ZAR) because those currencies may become stronger.

It may be wise to keep an eye on gold prices when the international political or economic situation is changing, such as during times when global inflation is rising. If the gold price starts to increase, you might expect it to go higher in the next periods of trading.

American Airlines' Parent Firm in Bankruptcy measures

2011-11-29T19:31:00.000Z

American Airlines' parent company AMR Corporation has filed for Chapter 11 bankruptcy protection.

Shares in the airline plunged 85% when they resumed trading on Tuesday. They are now worth 25 cents each.

The company expects the airline to continue to operate as normal throughout the bankruptcy process.

Speculation about AMR's financial position surfaced in recent weeks after cost-cutting negotiations failed.

AMR said agreements with its workforce forced it to spend $600m (£384m) more than other airlines on staff costs.

The airline employs 78,000 staff worldwide and operates out of five major US hubs.

Stock Control Diagram

2011-11-29T12:15:00.003Z

A business which holds stock will implement the following stock levels in order to meet customer demand at all times.

Minimum Level: this is the minimum amount of stock needed in case the required supply were to be delivered late. The business will never allow the stock level to drop below a certain point in order to prevent a resource shortage.

Maximum Level: this is the maximum amount of stock which can be held in the warehouse at any given time. This level is restricted by factors such as space; cost; and, delivery time.

Re-Order Level: this is when the stock level drops to a certain point and the process will automatically re-order the required stock. In order to decide at what point to re-order, businesses must consider the following: how long is the delivery time? how reliable is the supplier?

Lead Time is the time taken between making an order and its delivery, which replenishes stock.

Just-in-Time Manufacturing

2011-11-29T12:12:00.001Z

Just in Time originated in Japan during the 1960s and involves keeping stock levels to a minimum. Stocks arrive just-in-time to satisfy production needs. Raw materials are not purchased until they are required and finished goods are not produced unless firm orders have been received.

To be successful JIT techniques depend upon the reliability of an organisation’s suppliers, access to a supply of highly skilled workers and good quality control procedures.

Advantages
-It improves cash flow since money is not tied up in stocks

-The system reduces waste, obsolete and damaged stock.

-More factory space is made available for productive use.

-The costs of stock holding are reduced significantly.

-Links with and the control of suppliers are improved.

Disadvantages
-A lot of faith is placed in the reliability and flexibility of suppliers

- Increased ordering and admin costs

- Advantages of bulk buying lost

- Vulnerable to a break in supply and machinery breakdowns

- Difficult to cope with sharp increase in demand

-Possible loss of reputation if customers are let down by late deliveries

Quality Methods

2011-11-29T12:06:00.003Z

What is Quality?
A product is a quality product if it is defect free. To the producer, a product is a quality product if it meets or conforms to the statement of requirements that defines the product. This statement is usually shortened to: quality means meets requirements. From a customer’s perspective, quality means “fit for use.”

Quality Control
- product is checked, normally at the end of the production process and this ensures it meets quality standards.
- It ensures defective products are not dispatched to customers, harming reputation.
- Increased production costs associated with high levels of waste
- Its focus is defect detection and removal. Testing is a quality control activity

Quality Assurance
At certain points in the production process, products are checked to ensure that they meet agreed quality standards. All aspects of the production process are looked at to ensure errors do not occur.
It deals with ‘prevention’ of defects in the product being developed.
Quality Assurance is more thorough than Quality Control.

Total Quality Management (TQM)
- inspection is carried out at each stage of the production process and prevents a defect moving into next stage
- TQM treats everyone as a customer on the quality chain
- cuts down on waste with faults often being rectified early in the production process
- often requires substantial staff training
- KAIZEN – continuous improvement
- Uses Quality Circles
- TQM mantra is “Getting it right first time”

Quality Circles
- Used in TQM
- small groups of staff meet on a regular basis and solve problems and make suggestions for improvement
- can result in increased worker motivation
- suggested improvements can be expensive to adopt
- Quality Circles consist of workers from all departments and all levels from shopfloor to senior managers.

Benchmarking
- Comparing your company’s products, services or processes against best practices or competitive practices, to help define superior performance
- discovering the best method of production, often that of another business in the industry and adopting the same or a better as standard
- can be used to exceed the best practice
- information on other business can be difficult to obtain

British Standards Institution (BSI)
- aims to promote quality at all stages of production
- products carrying, for example the Kite Mark, will gain a competitive advantage
- time consuming preparation of quality manuals and inspections to obtain/maintain approval

Recruitment of a skilled workforce
- production defects should be rare resulting in reduced production costs
- staff costs are likely to be high.

QUALITY GURUS

W. EDWARDS DEMING

W. Edwards Deming is the Godfather of the Japanese success story.

He was an American whose ideas were laughed at in his native land, but when he went to help build the Japanese infrastructure in the late 1940s and 50s he transformed Japan.

“Quality is about reducing variation”. DiscussFind out more about Deming and his views on Quality.

JOSEPH JURAN

In1941 that Juran discovered the work of Vilfredo Pareto. Juran expanded the Pareto principle applying it to quality issues (for example, 80% of a problem is caused by 20% of the causes). This is also known as "the vital few and the trivial many". In later years Juran preferred "the vital few and the useful many" to signal that the remaining 80% of the causes should not be totally ignored.

According to Juran, the principal focus in quality management was on the quality of the end, or finished, product. Juran is widely credited for adding the human dimension to quality management. He pushed for the education and training of managers.

During his 1966 visit to Japan, Juran learned about the Japanese concept of Quality Circles which he enthusiastically evangelized in the West.

In the News...

2011-11-28T12:17:00.000Z

DAIMLER CUTTING MAYBACH CARS

German industrial group Daimler is preparing to disband its ultra-luxurious Maybach car marque.

The decision follows almost a decade of trying to make Maybach a profitable rival to Rolls Royce and Bentley.

Maybach will be replaced by new and more luxurious models from the Mercedes brand, which is also made by Daimler.

Daimler is said to have invested more than 1bn euros in the Maybach brand, which was revived nine years ago after more than 60 years out of production.

COMPUTING IS THE NEW LATIN

The campaign to boost the teaching of computer skills - particularly coding - in schools is gathering force.

Today the likes of Google, Microsoft and other leading technology names will lend their support to the case made to the government earlier this year in a report called Next Gen. It argued that the UK could be a global hub for the video games and special effects industries - but only if its education system got its act together.

The statistics on the numbers going to university to study computing make sobering reading. In 2003 around 16,500 students applied to UCAS for places on computer science courses.

By 2007 that had fallen to just 10,600, and although it's recovered a little to 13,600 last year, that's at a time in major growth in overall applications, so the percentage of students looking to study the subject has fallen from 5% to 3%. What's more, computing science's reputation as a geeky male subject has been reinforced, with the percentage of male applicants rising over the period from 84% to 87%.

But the problem, according to those campaigning for change, begins at school with ICT - a subject seen by its detractors as teaching clerical skills rather than any real understanding of computing.

And it seems school children are getting that message too because the numbers studying the subject are on the decline. The answer, according to the firms and organisations calling for change, is to put proper computer science in the form of coding on the curriculum

HEALTH AND SAFETY RED TAPE TO BE AXED

The government is launching a consultation on the abolition of "large numbers" of health and safety rules following an independent review.

It says it wants to have removed the first regulations from the statute book within a few months.

Following the Lofstedt review, a "challenge panel" is also being created for businesses unhappy with health and safety rulings made against them.

The employment minister said the moves would "root out needless bureaucracy".

The government says there are currently about 200 health and safety regulations, but this will be reduced by more than half over the next three years.

THANKSGIVING BOOSTS SALES IN THE USA

US retail sales figures in the critical Thanksgiving weekend rose 16% versus a year ago to $52.4bn, the National Retail Federation (NRF) has said.

The figures include Black Friday, the first day after the Thanksgiving holiday, when stores reopen.

NRF estimated that 86 million customers shopped online and in-store on Black Friday - the day traders traditionally leave the red and make a profit.

Thanksgiving Day itself saw 29 million shoppers.

According to research by ShopperTrak, provider of retail and mall foot-traffic counting services, Black Friday sales increased 6.6% over the same day last year.

This is equal to $11.4bn in retail purchases, and the biggest dollar amount ever spent during the day.

Retail foot-traffic rose accordingly, by 5.1% over Black Friday 2010.

Analysts are awaiting the results of Monday's trading, known as Cyber Monday, which online retailers including Amazon cite as their biggest business day of the year.

Moscow to be the next City of London?

2011-11-27T16:19:00.002Z

Major firms in the City of London are backing a plan to develop Moscow as an international financial centre.

Blue‑chip names including investment banks Barclays Capital and JP Morgan, the Lloyd’s of London insurance market and law firm Freshfields, are involved in the programme that has the backing of Russian prime minister Vladimir Putin and President Dmitry Medvedev.

The use of City expertise to bring western standards of financial and legal governance to the Russian capital follows Prime Minister David Cameron’s visit to the country in September.

The project is spearheaded by TheCityUK, the independent British financial services promotion group whose chief executive Chris Cummings said: “We are delighted to have won this work and we have made a terrific start. It is a real feather in the City’s cap.”

Cummings said the medium‑term aim was to establish Russia as the regional financial centre for the Russian federation, and farther down the line to develop the capital as an international centre of finance.

Cummings admitted there was “initially” some scepticism in the City about the project, centring on old concerns about the “rule of law and political uncertainty in Russia”.

Source: http://www.scotsman.com/business/interviews/city_gets_behind_plan_to_create_international_financial_hub_in_moscow_1_1986885

Tom Farmer launches iVenture Tuesdays

2011-11-27T15:18:00.027Z

Sir Tom Farmer will this week kick off the latest attempt at encouraging start-up companies in Scotland with the launch of iVenture Tuesdays.

The Kwik-Fit founder is the first of a number of high achievers lined up to address a monthly series of networking sessions designed to stimulate interest in starting a business among students, researchers and anyone seeking inspiration.

The seminars are free and open to anyone who registers in advance, they will take place on the last Tuesday of every month and will be hosted in various locations around the country.

Farmer, who launched Kwik-Fit in the early 1970s and sold it to Ford, will address several hundred guests at his lecture this Tuesday entitled People Make the Business.

Others expected to address future iVenture Tuesday meetings include Jim McColl, who built the engineering group Clyde Blowers, and Richard and Douglas Hare, the founders of gaming company Outplay Entertainment.

Informatics Vent

Scottish laser manufacturer seals million pound Japanese deal

2011-11-27T15:18:00.026Z

LASERS manufacturer Edinburgh Instruments (EI) has secured a contract with Japan’s largest technology institute, in a move helping propel it towards a £7.5 million annual turnover target months ahead of schedule.

EI is supplying Tokyo’s flagship Institute of Technology’s research laboratories, through its photonics division, with its PL5 series of gas lasers that have applications, in particular, for homeland security and radar modelling.

Tokyo Tech, as it is known, operates the world-class supercomputer Tsubame 2.0, used to simulate complex systems such as the planets and the financial sector. It has more than 10,000 undergraduate and postgraduate students on its books.

The size of the Japanese deal has not been disclosed, but the Livingston-based firm’s chief executive Alan Faichney says it is one of a series of revenue-boosting new deals.

EU Court of Justice rejects web piracy filter

2011-11-27T15:18:00.024Z

The European Court of Justice has ruled that content owners cannot ask ISPs to filter out illegal content.

The ruling could have implications for the creative industries as they attempt to crack down on piracy.

The court said that while content providers can ask ISPs to block specific sites, wider filtering was in breach of the E-Commerce Directive.

A Belgian court had previously ruled that a local rights holder could force an ISP to filter content.

The case stems back to 2004 when SABAM, a Belgian company responsible for authorising music rights, discovered that customers of local ISP Scarlet were downloading music illegally via peer-to-peer networks.

South Korea testing robotic prison guards

2011-11-27T15:18:00.023Z

Robot wardens are about to join the ranks of South Korea's prison service.

A jail in the eastern city of Pohang plans to run a month-long trial with three of the automatons in March.

The machines will monitor inmates for abnormal behaviour. Researchers say they will help reduce the workload for other guards.

South Korea aims to be a world leaders in robotics. Business leaders believe the field has the potential to become a major export industry.

The three 5ft-high (1.5m) robots involved in the prison trial have been developed by the Asian Forum for Corrections, a South Korean group of researchers who specialise in criminality and prison policies.

International Business News: Germany

2011-11-27T15:18:00.020Z

GERMAN INDUSTRY BIGGEST POLLUTER IN THE EU

German industry causes more environmental and health damage than any other country in the European Union, amounting to billions of euros each year, according to a new EU report.

The study by the European Environment Agency (EEA) released Thursday ranked Germany ahead of other serious polluters like Britain, France or any eastern European countries.

But if the polluters were ranked based on economy size, eastern countries such as Bulgaria and Romania would be on top, according to the environmental watchdog.

The agency, which used 2009 numbers in factors including CO2 emissions, said that pollution from facilities like steelworks and power plants caused between €102 billion and €169 billion in health and environmental costs across the European Union.

AIR BERLIN NEEDING INVESTORS

Air Berlin Chief Hartmut Mehdorn has already held talks with Etihad Airways, based in the United Arab Emirates, and Chinese holding company HNA, the main shareholder of Hong Kong Airlines, the Sueddeutsche Zeitung daily said.

One option is the "selling of a large amount of Air Berlin shares," the daily said, without citing its sources.

Air Berlin's founder, Joachim Hunold, had always ruled out the option of seeking foreign investors but new boss Mehdorn appears to be pursuing a different strategy.

Company shares were down 2.64 percent at €2.58 in early trading in Frankfurt on the news.

The airline, which relies heavily on transporting German tourists, ran into heavy turbulence in 2008 after years of soaring growth and expansion.

The firm has suffered more than its competitors from external factors, such as the political turmoil in North Africa since the beginning of the year.

It has also been hit hard by rising fuel costs, the introduction of an aviation tax in Germany and uncertainties over the economy.

TOYOTA AND BMW IN 'GREEN' DEAL TALKS

Japanese car giant Toyota is in talks with BMW over a green alliance. Under the deal, the German automaker would provide diesel engines for Toyota vehicles, while Toyota would share its hybrid technology. It would mark Toyota's second green-technology tie-up with a major foreign automaker, following its agreement in August to develop hybrid-vehicle systems with Ford of the United States.

A Toyota spokesman said the report was based on "speculation" and refused to comment further.

Under the proposed arrangement, BMW would provide diesel engines for Toyota's passenger vehicles, most likely medium-sized cars of around 2,000cc to be sold in Europe, Nikkei said.

BMW, which inked a deal with France's PSA Peugeot Citroen Group in late 2010 to jointly develop hybrid systems for subcompacts, would be able to expand its lineup, the daily said.

Toyota has struggled to use its hybrids to expand its market share in Europe in a region where roughly 60 percent of passenger cars are powered by diesel engines, the daily said. Demand for diesel vehicles is forecast to grow since such engines are seen as an effective way to cut carbon dioxide emissions, and technological advances in the field are essential as emission regulations become tougher.

With the strong yen hurting the price competitiveness of its hybrids, Toyota was aiming to improve the marketability of its diesel vehicles by procuring engines from BMW, the daily added.

BERLIN BRANDENBURG AIRPORT NEARING COMPLETION

The new Berlin airport, Brandenburg, is expected to start operations in a little more than six months, has entered a key test phase and authorities are determined to figure out problems ahead of the June 3, 2012 opening. It will replace Schoenfeld and Tegel creating one of the largest airports in the world.

One thing is sure, said Manfred Körtgen, the head of Willy Brandt Airport said. The date will not be rolled back, Der Tagesspiegel newspaper reported on Saturday.

Körtgen said the airport is undergoing a massive series of tests and checks to make sure it can handle the traffic, luggage and passengers on the first day.

Located in a southeast corner of Berlin, the airport is currently the largest construction site in eastern Germany and has 5,500 workers hammering and digging away to get it ready. Practice run throughs will take place on Tuesdays and Thursday, Körtgen said.

Beginning in February, thousands of volunteers will play the role of passengers and help airport officials figure out what works and doesn’t.

The new airport has come under extensive criticism – and been the subject of many protests – by neighbours fearing noise and pollution problems.

The airport has a capacity of 27 million passengers per year and officials are expecting 23.5 million already in its first year.

Scottish independence vote may damage investment

2011-11-27T15:18:00.015Z

The planned independence referendum is an additional risk that adds to the costs of investing in Scotland, it has been claimed.

The warning comes from Malcolm Naish, who stepped down as chairman of the Scottish Property Federation last week.

He said investors would hold off on decisions until there was more clarity about Scotland's political future.

The Scottish government has called for critics to provide examples of those investors who are cautious.

Mr Naish also warned against moves by the Scottish government to increase tax on supermarkets and to remove rebates on commercial properties that are lying empty.

The comments add to the concerns raised about renewable power investment in Scotland by energy analysts at Citigroup, later contested by a rival analyst.

There have also been claims from the Chancellor, George Osborne, and by Danny Alexander, the Treasury Secretary, that investors are being put off investment by uncertainty over Scotland's constitutional future.

Source: BBC Business News

For the full article read here:

http://www.bbc.co.uk/news/uk-scotland-scotland-business-15908948

Chancellor unveils £40 billion loans package

2011-11-27T15:18:00.013Z

Chancellor George Osborne will unveil credit easing schemes to release up to £40bn in loans to small firms when he delivers Tuesday's autumn statement.

Under one plan, the government would underwrite banks' borrowing so they could pass on cheaper loans to firms turning over less than £50m. Loans of £20bn will be involved initially but this could be doubled.

Shadow chancellor Ed Balls commented that access to credit alone would not restore business confidence.

Mr Osborne is proposing three schemes in an attempt to boost economic growth.

The first scheme would see the government provide a guarantee for banks to borrow on the financial markets.

It is understood that the second £20bn of loan guarantees are being held in reserve for the moment but could be made available in the next two years.

The chancellor will also propose that the government takes a stake in an investment fund with private sector investors to provide a source of credit or loans to medium-sized companies.

A third scheme would offer an alternative to traditional bank loans by encouraging firms to sell bonds - or company IOUs - to the market.

Source: BBC Business News

The Role and importance of Operations Management

2011-11-27T15:18:00.010Z

THE ROLE OF OPERATIONS

I would say that Operations' Role is to make sure that the right resources in the right quantities are being purchased to ensure production.

This obviously would then help satisy consumer demand.

Or you could even mention that Operations is the process of transforming raw materials into the finished product.

THE IMPORTANCE OF OPERATIONS

Operations is a core activity of the business, It could not function without it. It also attempts to minimise waste and this would lead to an overall reduction in costs (less reworks, less raw materials being bought in).
Operations is important because it creates the products which are going to be sold to end users (consumers).

Understocking and Overstocking

2011-11-27T15:18:00.008Z

Deliveries arriving too early or too late cause problems for firms. The same goes with having too much stock or indeed having too little.

This is called understocking and overstocking. Often an exam question will ask you to talk about the advantages and disadvantages of both.

Understocking

Cannot cope with unexpected changes in demand
Production line may have to stop – therefore firm is paying an idle labour force
Cannot meet customers’ orders so they may choose to go elsewhere
Increased administration costs if firm is frequently re-ordering

Overstocking

High costs of storage and maintenance
High insurance costs
Possible need for security measures
Large amount of space needed
Money is tied up in stock which could be used elsewhere
Stock may deteriorate or become obsolete
Safe disposal incurs extra cost

This answer was taken from the 2005 Higher BM paper, so remember to expand!

How ICT can aid stock control

2011-11-27T15:18:00.006Z

Stock control has to be managed properly as storage and security are issues as well as ensuring you have the right quantity to meet customer demand. ICT is now often used in stock control systems.

ICT can have different uses in Stock Control:

Scanning bar codes means stock records are updated immediately on receipt or issue of stock
Managers can identify best sellers and non movers easily
Managers can obtain the total stock figure at any time of the day
Can identify which products sell best at certain times of the day or year
Computer can be linked to the supplier resulting in product being automatically recorded when re-order level is reached
Spreadsheets could be used to record information and totals and balances will be calculated using formulae
Fax/email allows accurate orders to be placed

Quality Methods

2011-11-27T15:18:00.003Z

A common exam question is based on describing the different Quality Methods available to organisations. Here are some key points for each:

Benchmarking

Copying the best techniques used by other organisations
Products/services taken apart and re-engineered.
Can result in a better product than the original.
However if it takes time, competition may have moved on from what was the original best practice.

Quality Circles

Small groups of employees from different departments and at different levels of management who meet to discuss and solve quality issues.
Improves the workforces motivation as they feel more valued as their opinions are taken into consideration.
Suggestions are made to management for approval

Quality assurance

Products are checked at various stages during production
Unacceptable products are discarded

TQM (Total Quality Management)

No errors tolerated
Treat everyone in the production chain as a customer therefore creating a Quality Chain.
Based on Kaizen philosophy (Continuous improvement)
All staff involved and committed to ensuring high quality (unlike Quality Circles where only small groups are targeted)
Work processes scrutinised
Constant strive to make processes more efficient and reduce waste
Focus on teamwork
Training provided

BSI

A national standard for certain products
When a business meets the standard its product can carry the BS Kitemark
Other quality standard symbols also exist (Lion marks on eggs)

Quality Control

Product quality checked at the end of the production process
Traditional method
Use of Quality Inspectors
Can result in high wastage and reworks

India in an uproar over supermarket deal

2011-11-26T17:14:00.001Z

here has been uproar in India's parliament over the cabinet's decision to open up the retail market to global supermarket chains.

One key government ally, the Trinamool Congress, joined opposition parties in shouting slogans and unfurling banners.

The lower house had to be adjourned, and Trade Minister Anand Sharma instead held a press conference to spell out details of the policy.

He said the "India-specific" scheme would create tens of millions of jobs.

The cabinet's move allows 51% foreign direct ownership (FDI) of multi-brand retail stores, allowing groups like Tesco and Wal-Mart to open stores. Such operators currently can only sell wholesale in India and not directly to customers.

The policy is an executive decision and does not need parliament's approval.

Supporters of the move say it will increase competition and quality while reducing prices, which have been hit by close to double-digit inflation.

Opponents say the multi-nationals will squeeze out India's smaller and poorer traders and drive down prices paid to India's farmers.

Source: BBC Business News

Strike could paralyse Heathrow

2011-11-26T17:04:00.001Z

Heathrow airport has asked airlines to halve the number of passengers they fly into the airport next week to try to minimise disruption caused by a strike.

Its operator BAA warned of "gridlock" and said passengers could face 12-hour delays on Wednesday when immigration officers go on strike over pensions.

BAA said it was holding talks with airlines and the UK Border Agency.

PM David Cameron said it was clear there would be an impact at ports and airports, but borders would be secure.

£1 billion plan to get young people back to work

2011-11-26T16:59:00.000Z

Deputy Prime Minister Nick Clegg says a £1bn plan to provide subsidised work and training placements will "provide hope" to thousands of young people.

The three-year youth contract scheme will give employers subsidies worth £2,275 to take on 160,000 18-to 24-year-olds for six months.

Youth unemployment hit 1.02 million in the three months to September.

Labour questioned how it would be funded, following reports that working tax credits were to be squeezed.

Top 10 Business Schools in the World

2011-11-25T20:18:00.028Z

As ranked by the Financial Times here are the top 10 business schools in the world:

1. London Business School, UK

2. Wharton School of Finance, University of Pennsylvania, USA

3. Harvard Business School, USA

4. INSEAD, France

5. Stanford University, USA

6. Hong Kong Business School, China

7. Columbia Business School, USA

8. IE Business School, Spain

9. Iese Business School, Spain

9. MIT Sloan School of Management, USA

Though I am sure most entrepreneurs would tell you that running your own business is the ultimate test.

For the top 100 go to:

http://rankings.ft.com/businessschoolrankings/global-mba-rankings-2011

Forbes 400: Richest People in America

2011-11-25T20:18:00.025Z

Rank	Name	Net Worth	Age	Residence	Source
1	Bill Gates	$59 B	55	Medina, Washington	Microsoft
2	Warren Buffett	$39 B	81	Omaha, Nebraska	Berkshire Hathaway
3	Larry Ellison	$33 B	67	Woodside, California	Oracle
4	Charles Koch	$25 B	75	Wichita, Kansas	diversified
4	David Koch	$25 B	71	New York, New York	diversified
6	Christy Walton	$24.5 B	56	Jackson, Wyoming	Wal-Mart
7	George Soros	$22 B	81	Katonah, New York	hedge funds
8	Sheldon Adelson	$21.5 B	78	Las Vegas, Nevada	casinos
9	Jim Walton	$21.1 B	63	Bentonville, Arkansas	Wal-Mart
10	Alice Walton	$20.9 B	61	Fort Worth, Texas	Wal-Mart

Methods of Production

2011-11-25T20:18:00.024Z

There are FOUR basic methods of production:

Job production
Batch production
Flow production/mass production
Just in time production

Job Production

Job production: one single item is made at a time, eg a ballgown for the Queen. The ballgown will be made to the Queen's specification. This is usually a one-off order that may be repeated at a later stage.

Job production is always very costly as it requires highly skilled workmanship and expensive materials.

Advantages of job production

Disadvantages of job production

greater job satisfaction
flexibility
quality of product is very high

very expensive
economies of scale do not apply
could be very time consuming.

Batch Production

Batch production: similar items are made in blocks or batches. This could happen on small scale or large scale. The manufacture of the England rugby team jerseys is an example.

Other examples are: school uniform, construction of similar houses for a new development.

Advantages of batch production

Disadvantages of batch production

unit cost may be lowered
workers can specialise
some variety in production
less skilled workers needed

work is repetitive and workers may be less motivated
the need for storage place can increase costs.
management of moving batches between stages can be problema

Mass Production/Flow Production

A large quantity of the same product is made at a high speed, and as cheaply as possible. A good example is the manufacturing of television sets. Other examples are a clothing line for a departmental store, toys, canned food etc.

Advantages of mass production

Disadvantages of mass production

unit cost low due to large output
specialisation of workers
less skilled workers
standard of quality can be maintained

repetitiveness can lead to unmotivated workers
huge capital outlay to buy machinery
breakdown in machinery can cause big problems.

Just in time production

Just in time production (JIT) is applied when stocks of raw materials are kept to a minimum.

The aim is to get the raw materials just in time when they are needed for the production process.

Advantages of JIT

Disadvantages of JIT

Keep stock of raw materials as low as possible
Low stock of raw materials saves costs until you need the stocks

Can cause delays in production if stock is not on time
Must have a highly organised system for ordering raw materials
Shortages of stocks can result in serious delays of production

South Korea building a new capital city

2011-11-25T20:18:00.023Z

South Korea is following Brazil and Australia’s example by planning to build itself a new capital city. Construction started in 2007 and by 2012 the first government departments would be operating in the new city. The final replacement of Seoul as the South Korea’s seat of parliament and government is not expected before 2020.

The Yeongi-Gongju region, which was chosen from a list of four finalists, won on transport and environmental grounds. The site is close to existing high-speed railway lines and express-ways. The Cheongui airport is also nearby.

South Korea, with some 48 million people, is a densely populated country. The land per capita is 2,310 m2, smaller than that of France (12,540 m2), the United Kingdom (4,290 m2), and Japan (3,102 m2). South Korea, with its population density at 460 persons per km2, has the fourth highest population density in the world, coming after Bangladesh, Germany, and Taiwan, excluding the city states of Singapore and Hong Kong. The actual population density is higher than its estimate due to the uninhabitable mountainous areas.

For the full article read here:

http://www.citymayors.com/environment/korea_newcapital.html

Product Life Cycle Extension Strategies

2011-11-25T20:18:00.021Z

An easy way to gain marks is to think about the 4 Ps of the Marketing Mix and how we could alter/change each of these in order to keep a product selling.

Product

¨ Change/alter the products packaging

¨ Change the products name (ie Marathon became Snickers!)

¨ Re-launch the product

¨ Find a new use for the product

¨ Develop a range of the same product in different sizes or shapes (ie iPod Nano etc)

Price

¨ Lower the price to increase sales. Customers should will buy in greater volume

Place

¨ Change the market for the product (Brother Typewriters were phased out due to laptops and word processors. Now the typewriters are being sold in Developing Countries.)

¨ Change the distribution channels (ie buy and sell online – eCommerce)

Promotion

¨ Increased advertising of the product will increase awareness, or persuasive advertising techniques, might mean consumers may purchase more of the product or service

¨ Use promotional techniques to stimulate demand such as BOGOF (Buy One Get One Free)

International Business News: Brazil

2011-11-25T20:18:00.018Z

WATER PROJECTS PLANNED FOR BRAZIL'S NORTHEAST

Brazil's Pernambuco state water utility Compesawill receive 80.9mn reais (US$42.8mn) in funding from the federal government to increase potable water supply and sewerage services in the northeastern state, a spokesperson for the cities ministry told BNamericas.

"A total of four wastewater projects valued at 72mn reais and two water supply projects valued at 8.9mn reais are planned," the spokesperson said.

Tacaratu will carry out a 27mn-real initiative to expand the Caraibeiras sewerage system. Work includes building three pumping stations, 39.3km of pipeline, 2,314 building connections and a wastewater treatment plant.

The towns of Venturosa, Tacaratu and Itapetim have been allocated 24.2mn reais, 12.3mn reais, and 8.6mn reais respectively for sewerage works.

IDB'S PORT DEAL SEALED

IDB and four other banking institutions have closed a US$430mn syndicated loan deal for Brazil'sEmbraport, which is building a multipurpose terminal at São Paulo state's Santos port.

The transaction involves a 15-year, US$100mn A loan from IDB and a 12-year IDB B loan of US$330mn from Germany's WestLB, Portugal's Caixa Geral de Depositos (CGD), HSBC (NYSE: HBC) and Spain's Banco Santander, according to an IDB release.

In parallel, Brazil's federal savings bank Caixa Econômica Federal (CEF) - with funding from national development bank (BNDES) - has approved another 633mn reais (US$336mn) for the project.

The global senior debt package will go towards phase I works on the new terminal, which will have capacity to handle more than 1mn TEUs/y, as well as liquid bulk.

Embraport, the largest multi-use private terminal currently under construction in Brazil, will allow the port of Santos to receive ships with deeper drafts, as well as improving traffic conditions through new road and rail connections that will move traffic away from Santos city's urban center.

CHEVRON LICENSE IN DANGER

Chevron's (NYSE: CVN) subsidiary Chevron Brasil could lose its Frade field concession license if it fails to identify the causes and responsible parties for the oil leak, a spokesperson at Brazilian hydrocarbons regulator ANP told BNamericas.

The watchdog has suspended permission for Chevron to drill any further well in Brazil until investigation of the leak is concluded. The company is however able to carry on with production operations in the field.

The offshore Frade field produces 79,000boe/d, according to a Chevron statement.

Frade is Chevron's first operating oil field in Brazil and is in roughly 3,700ft (1,128m) of water, 370km northeast of Rio de Janeiro. The field contains an estimated 200M-300Mb of recoverable oil and produced its first crude in the second quarter of 2009.

Chevron operates Frade with a 51.75% stake, while Brazilian state-run energy major Petrobras (NYSE: PBR) holds 30% and Frade Japão the balance.

Brazil's environmental protection agency fined Chevron 50mn reais (US$27mn) for the incident.

Portugal braced for a 24 hour strike

2011-11-25T20:18:00.014Z

A 24-hour strike in Portugal against proposed austerity measures has grounded flights and halted public transport.

Hundreds of thousands of workers took part in the action, including air traffic controllers, metro workers, teachers and hospital staff.

A march in the capital, Lisbon, attracted thousands of protesters.

Parliament will vote next week on a deficit reduction plan being imposed as a result of an international bailout.

Portugal is getting 78bn euros (£67bn; $104bn) in emergency funds from the EU and the International Monetary Fund (IMF)

In a separate development on Thursday, the credit ratings agency Fitch downgraded Portugal's debt to junk status, blaming Lisbon's "large fiscal imbalances" as well as the "adverse macroeconomic outlook".

Business Profiles: Rio Tinto

2011-11-25T20:18:00.013Z

Rio Tino is a UK/Australian mining firm with headquarters in London and Melbourne. It was formed in 1873 by a UK-led buyout of a Spanish firm by Scottish industrialist Hugh Matheson

The company has made many takeovers over the years and is focused on mining iron ore, copper, gold, diamonds, uranium and coal. It operates on six continents and first struck it lucky in Spain and then later in Rhodesia.

Rio Tinto's turnover is somewhere in the region of $60 billion with a net profit of around $15 billion.

The firm was recently embroiled in a spy scandal involving its biggest customer: China. Four Rio Tinto employees were arrested in Shanghai on charges of corruption and industrial espionage in July 2009. One of the employees was accused of bribery during contract talks. Rio Tinto and China seem to have put all this behind them as it was announced Rio Tinto has signed a joint venture with the state owned Chinese Chinalco organisation based in Beijing to search for copper.

Environmentalists have been concerned with Rio Tinto's activities in Indonesia, in particular the Grasberg Mine, which greens have said has vastly damaged the local environment, something denied by Rio Tinto.

Rio Tinto has also been plagued with disputes with workers of late ranging from Papua New Guinea to California and indeed Australia itself. Criticisms levelled at the firm are that it has ignored trade union legislation and also show a disregard for human rights. Eventually in the case of Papua New Guinea Rio Tinto lost out to people power in what was called the Coconut Revolution.

Rio Tinto's influence and reach is massive. It is a firm to keep an eye on and perhaps invest in if one ever has any money!

South Korea agrees US trade deal at long last

2011-11-25T20:18:00.008Z

South Korea's parliament has ratified a free-trade deal with the US, after years of wrangling over the issue.

Members of the ruling Grand National Party, which has a majority, convened to force the bill through in a 151-7 vote.

Most of the opposition abstained. One politician set off a tear-gas canister before the vote and others jeered as the bill passed.

The US Congress ratified the deal last month and it has now been made law.

It is America's largest free-trade deal since the North American Free Trade Agreement with Canada and Mexico in 1994.

The bill - first agreed in 2007 - was ratified in a snap parliamentary session.

"We have decided to push the free trade deal through parliament by voting, as it is almost impossible to reach a compromise with the opposition," GNP politician Park Jun-sun told local media.

International Business News: India

2011-11-25T20:18:00.007Z

GOVERNMENT IN AIR INDIA TALKS

MUMBAI: The government is in talks with the apex bank on providing relief to the cash-strapped national carrier Air India, civil aviation minister Vayalar Ravi said on Thursday.

"The discussions with Reserve Bank of India (RBI) are on. The discussions are on about Air India's balance sheet, financial position and future projects," Ravi said, adding that he was yet to get a response from the central bank on the issue.

Earlier on Thursday, sources told Reuters, the RBI has approved extension of the tenure of loans to troubled state-run carrier Air India to 15 years from 10 years.

INDIA OPENS DOORS TO GLOBAL SUPERMARKET PLAYERS

CHANDIGARH: India's growth story is still "credible" and the move to open up the economy to global supermarket chains will help growth and control inflation, RBI governor Duvvuri Subbarao said on Friday.

"It's commendable that government has taken the initiative. Let's hope that it will improve the logistics chain and supply chain management in agriculture," Subbarao said in a speech in Chandigarh.

Late Thursday, the government approved 51 percent foreign direct investment in the supermarket sector, paving the entry of firms such as Wal-Mart, Tesco and Carrefour into one of the world's largest untapped markets.

RUPEE DOWN ON DOLLAR

MUMBAI: The rupee on Friday weakened by 19 paise to close at 52.25/26 against the dollar following fresh demand for the US currency from importers and weak equity markets.

Increased capital outflows as well as firm dollar overseas kept the rupee under pressure.

At the Interbank Foreign Exchange ( Forex) market, the domestic unit opened lower at 52.15/16 a dollar from previous close of 52.06/07. It immediately touched a high of 52.06 on late morning recovery in stocks amid expectations of intrusion by the central bank and government's efforts to encourage foreign investments by liberalising some proposals.

WALMART WELCOMES INDIA'S NEW POLICY

NEW YORK: The world's largest retailer Walmart has termed India's decision to allow 51 per cent FDI in multi-brand retail as a "first important step" and said it will study the finer details of the new policy to determine the impact on its ability to do business in India.

Walmart, which has been waiting in line with other global retailers like Carrefour and TESCO to tap the growing and lucrative Indian market with a 1.2 billion-strong population, said it was "grateful" that the Indian government realised and appreciated the value that foreign retailers like itself will bring to strengthen the country's economy.

"We believe that allowing 51 per cent FDI in multi-brand retail is a first important, step. However, we will need to study the conditions and the finer details of the new policy and the impact that it will have on our ability to do business in India," Bharti-Walmart MD and CEO Raj Jain said in an emailed statement to PTI.

FOOD INFLATION EASES IN INDIA

NEW DELHI: After hovering above double-digits for five consecutive weeks, food inflation eased in mid November prices of vegetables, fruits moderated much to the relief of policymakers. Data released by theCommerce ministry on Thursday showed food inflation stood at 9.01% in the week to November 12, easing from the previous week's 10.63%. It stood at 11.38% in the same year-ago period.

Finance Minister Pranab Mukherjee hoped the moderating trend would continue. "I hope there will be moderation in the inflation and it will have its impact on the year-end inflation," Mukherjee told reporters.

The government expects overall inflation to ease between 6% and 7% by March-end 2012. Vegetables prices rose an annual 17.60%, easing from the previous week's increase of 27.26% while fruits prices went up 4.59% year-on-year, slower than the previous week's annual rise of 5.99%. The index for food articles group declined by 0.7% to 198.5 from 199.8 (Provisional) for the previous week due to lower prices of poultry chicken (6%), bajra and fruits and vegetables (2% each) and condiments and spices, urad, fish-inland, maize and moong (1% each). But the prices of masur and coffee (4% each), tea (2%) and barley, ragi, fish-marine, wheat and gram (1% each) moved up.

Sources: BBC News, Times of India

South Korea to build on disputed islands

2011-11-25T20:18:00.002Z

South Korea will spend 400 billion won ($345 million) building a breakwater, a power plant, an underwater observatory and a tunnel on disputed islands claimed by Japan.

Building begins in 2013 with a completion date of 2016. A 200 metre (656-foot) tunnel will connect the largest of the two islands, which are known as Dokdo in Korean, Takeshima in Japanese and the Liancourt Rocks internationally.

The argument over the islands nearly led to a naval incident in April 2006, when South Korean gunboats patrolled a Japanese survey of the islands.

South Korea has upped its claims to the islands off its eastern coast by stationing Coast Guard officers and lighthouse keepers there in addition to two permanent civilian residents, a fisherman and his wife.

The seabed surrounding the rocky islands may have rich natural gas deposits. Japan claim the islands were not part of the treaty handing back land after the Second World War.

Source: Bloomberg

World Time Zones

2011-11-25T00:22:00.011Z

Fake Reviews Damaging Company Reputations

2011-11-25T00:22:00.010Z

Websites like Trip Advisor and others are acclaimed by customers as they get the chance to rate their experiences and hold companies to account. However some firms claim that they are being damaged by customers who actually are working for rivals.

Trust in information on the web is being damaged by the huge numbers of people paid by companies to post comments online, say researchers.

Fake posters can "poison" debate and make people unsure about who they can trust, the study suggests.

Some firms have created tens of thousands of fake accounts to flood chat forums and skew debate.

The researchers say there are reliable ways to spot fakes and urge websites to do more to police users.

The researchers from Canada and China say paying people to post comments is an "interesting strategy in business marketing" but it is not a benign activity.

"Paid posters may create a significant negative effect on the online communities, since the information from paid posters is usually not trustworthy," they wrote.

In the News...

2011-11-25T00:22:00.007Z

ARCADIA IN TROUBLE

Arcadia, the owner of Top Shop and BhS, reported a 38% fall in annual profits to £133m and says it expects to close up to 260 stores in the next few years.

Arcadia boss Sir Philip Green told the BBC the closures would come as store leases came up for renewal.

It also reported same-store UK sales down by 1.8%.

The group, which owns Burton, Dorothy Perkins and Miss Selfridge, said it expected heavy discounts on the high street this Christmas.

DIXONS LOOK TO DIFFERENTIATE ON CUSTOMER SERVICE

The electrical goods firm Dixons Retail says its focus on improving service is marking it out from its competitors.

First-half losses before tax and one-off items at the group, which owns Currys and PC World, widened to £25.3m loss from £6.9m the year before.

But the fall in same-store sales slowed from 7% in the first three months to 3% in the second quarter.

Dixon's chief executive said that the company's better service strategy was bringing gains in market share.

US RETAILERS HOPE FOR AN AFTER THANKSGIVING BOOM

US retailers hope hordes of bargain-hunters can lift the economic gloom as the holiday shopping season begins.

After polishing off Thanksgiving turkeys, millions of Americans will head to the shops on Friday for the busiest shopping day of the year.

Black Friday - so-called as it is when many retailers head out of the red and into the black - sees many stores open at midnight, or even earlier this year.

Half of the entire US population is expected to hit the shops this weekend.

The National Retail Federation (NRF) said 152 million people would visit stores in search of bargains this weekend, up 10% from last year.

Consumer spending accounts for about 70% of US economic activity.

BIG US MERGER WITHDRAWN

US telecoms giant AT&T and Deutsche Telekom have cast doubt over the $39bn (£25bn) sale of T-Mobile USA by withdrawing their merger application to the industry regulator.

AT&T also said it would include a $4bn charge in its fourth-quarter accounts to cover any potential compensation due if the deal does not go ahead.

The US Justice Department moved to block the sale at the end of August.

The two firms said they would focus on clearing the deal with the government.

GOOGLE AXING PRODUCTS

Google has announced that it is dropping seven more products in an effort to simplify its range of services.

The out-of-season "spring clean" brings an end to services including Google Wave, Knol and Google Gears.

It is the third time that the US firm has announced a cull of several of its products at the same time after they had failed to take off.

Experts said the strategy might put off users from signing up to new services.

Apple TV Latest News

2011-11-25T00:22:00.003Z

From Fortune, a report by Peter Misek in Japan has learned the following about the partnership between Apple and Sharp:

We believe Apple has shifted display production and that Sharp has now become a large panel supplier, based on our checks. We believe that the Gen 6 Kameyama facility has been exclusively taken over for Apple purposes with Apple purchasing $500M to $1B of equipment for the manufacturing of iPad 3 and iPhone 5 LTE displays.
We believe production of iPad 3 displays began two weeks ago and is the cause of much of the noise in the supply chain.
We believe that Apple and Sharp together have a modified IGZO (indium, gallium, zinc) technology to achieve 330 dpi, which is sufficient for an HD display while not using IPS nor having to include dual-bar LED backlighting. In our view, this should lead to several design advantages, namely the device can be thinner, battery life should be longer, and the overall experience for users should be meaningfully improved.
We believe that Apple may use this facility for the vast majority of the iPad 3 displays. The price at which Apple will be able to procure these panels will be lower than expected as the capital commitment by Apple likely necessitates below market pricing in our view.
For the iPhone 5 LTE we also believe this new facility will be used to supply displays. The IGZO technology is perfect in that it offers near-OLED power consumption while having a lower cost and thinness that is only 25% greater than OLED, based on our checks. [OLED =Organic light-emitting diode]
Even after the iPad 3 launch, we believe Apple will continue to produce the iPad 2 and will lower the price by $100 to $200.
Going forward we believe that Apple and Sharp will jointly develop OLED panels for use in iPhone and iPad within the next 1 to 2 years. This contrasts with conventional wisdom that states Samsung will have a lock on OLED for that timeframe. The equalizer is a new printing technology based on a combination of daisy wheel and inkjet technology that "prints" the OLED onto a film that is then deposited onto glass. The yield improvements have been enormous and have enabled some trial runs to produce commercial yields. We expect Sharp/Apple to have a line testing this by the middle of 2012 with 2013 output possible.
Based on our checks we believe OLED is only slated for small and mid-sized panels (i.e., iPad, iPhone). iTV is unlikely to receive OLED treatment until 2015.

For the full article go to: http://tech.fortune.cnn.com/2011/11/24/sharp-and-apple-what-the-jefferies-report-really-says/?iid=SF_F_LN

NPA Enterprise and Employability

2011-11-24T14:58:00.004Z

A recent visit by Education Scotland and representatives from other schools with a Citizenship focus met our hard working NPA Enterprise and Employability pupils.

In particular we have two ambitious, creative and exciting ventures.

COVER UP (Team members: Perwinkle, Saniya, Claudia, Adam and Robbie) originally were designing personalised calendars but then they came up with mobile phone covers. To raise the capital, Cover Up had a very tasty bake sale. The budding entrepreneurs (using Claudia's linguistic skills) ordered in their stock from China!

TEAM EVEREST (Team members: Mark, Kimberley, Kyle, Ross, Louise and Ashley) came up with the inspired idea of raising money for Cancer Research by producing T-Shirts with the picture of our iconic janitor Nancy on it! Nancy is a tireless fundraiser for Cancer Research and demand certainly outstrips supply.

Very proud of the effort from our young entrepreneurs of Hamilton Grammar.

The rich, the 1% and the 99%

2011-11-24T14:20:00.003Z

Occupy are protesting against the bankers bonuses on Wall Street, and say they are the 99%, a reference to the 1% who are 'the rich'.

So who are the rich? How much do you have to make before you are classed as rich?

According to Professor Bill Rubenstien he said that in 1880 a rich person would have had £100,000 in assets or an income of £10,000 a year. Today's measure is annual earnings of £250,000 per year he thinks.

Another leading academic Professor John Van Reenen, director of the Centre for Economic Performance reckons in the UK £140,000 to be part of the 1%.

In 2009, it took $344,000 to become part of the top bracket of top tax payers in the US.

The USA has over 400 billionnaires, whereas in the UK we have 73 billionnaires, an increase from 53 last year.

It is important to remember that it is not just about earnings but wealth, including inherited wealth.

Today's inequality will continue it seems for quite a while yet.

Win Blog

2011-11-24T14:15:00.002Z

Pupils in class have told me about this website called http://www.winblog.org/.

One of the great designs was a liquid pool table.

1,500 jobs created by Toyota

2011-11-24T11:55:00.000Z

Up to 1,500 jobs are to be created with production of a new Toyota car at the firm's Derbyshire factory.

Toyota said it would be investing more than £100m at Burnaston to make it the sole European centre for making the next hatchback.

The first 500 workers are to be recruited in the middle of next year.

Prime Minister David Cameron, who was visiting the factory, said it was "fantastic news and a massive vote of confidence for UK manufacturing".

Production of the hatchback will lead to as many as 1,500 additional jobs being created in the next two years, the company said.

Broken Promises of new Energy

2011-11-24T11:52:00.003Z

I found this on Forbes.com which I thought I would share with students.

Forbes' article was actually an excerpt from a Nov. 21, 2011 research note by Michael Cembalest, the chief investment officer for JPMorgan Private Bank.

1945. Oak Ridge National Laboratory nuclear physicists Weinberg and Soodak predict that nuclear breeders will be man’s ultimate energy source; a decade later, the chairman of the US Atomic Energy Commission predict it would be “too cheap to meter”

1973. “Let this be our national goal: At the end of this decade, in the year 1980, the United States will not be dependent on any other country for the energy we need to provide our jobs, to heat our homes, and to keep our transportation moving.” — Richard Nixon

1978. “Through modeling of supply and demand for over 200 US utilities it was projected that, by the year 2000, almost 60% of U.S. cars could be electrified, and that only 17% of the recharging power would come from petroleum”

1979. An influential Harvard Business School study projects that by 2000, the US could satisfy 20% of its energy needs through solar

1980. Physicist Bent Sorenson predicts that 49% of America’s energy could come from renewable sources by the year 2005

1994. Hypercar Center established, whose lightweight material and design would yield 200 mpg cars with a 95% decline in pollution

1994. InterTechnology Corporation predicts that solar energy would supply 36% of America’s industrial process heat by 2000

1995. Energy consultant and physicist Alfred Cavallo projects that wind could have a capacity factor of 60%, which when combined with compressed air storage, would rise to 70 – 95%

1999. US Department of Energy hopes to sequester 1 billion tonnes of carbon per year by 2025

2000. Fuel cell companies announce 250-kilowatt production plants that can fit into a conference room and produce energy at 10 cents per kilowatt hour, with the goal of 6 cents by 2003

2008. “Today I challenge our nation to commit to producing 100% of our electricity from renewable energy and truly clean carbon-free sources within 10 years. This goal is achievable, affordable and transformative.” Al Gore

2009. Gene scientist Craig Venter announces plans to develop next-generation biofuels from algae in a partnership with Exxon Mobil

America's Worst Cities for finding a job

2011-11-24T11:47:00.002Z

In a recent survey, job search aggregator firm Indeed found that the hardest city of find a job was Miami, with 4 applicants for every job.

LA was second with 3.48 applicantets per job, Riverside, CA was thirds with 3.25 job seekers, Las Vegas was fourth with 3.1 applicants.

Fifth was motown itself, Detroit, where 2.75 people applying per job.

Weir Group buy US firm

2011-11-23T21:12:00.011Z

Engineering firm Weir Group has bought America's Seaboard Holdings, in a deal worth £430m.

The deal will boost its presence in the booming shale oil and gas industry in the US.

Texas-based Seaboard's expertise lies in "fracking", or fracturing, of shale formations to develop "unconventional" reserves of oil and gas.

Glasgow-based Weir said the deal would be complementary to its current business.

It said there had been "rapid growth" in demand for Seaboard's products and services.

Business Profiles: Indra Nooyi

2011-11-23T21:12:00.010Z

Indra Nooyi was born in Chennai (old Madras) in India in 1955. She became a product manager with Johnson & Johnson from which she went to Yale and did a Masters degree in Public and Private management.

Indra Nooyi started with PepsiCo in 1994 and in 2001 she became the Chief Financial Officer and then in 2007 the Head Honco as CEO.

Under Nooyi's watch Pepsi net profits originally increased but due to more health initiatives some critics have argued they have taken their eye off of the soft drinks ball and in North America Pepsi's market share has dropped by 1% in 2011, falling behind their eternal foes, Coca Cola. Pepsi has now even fallen behind Diet Coke as well as Classic Coke.

Other commentators have mentioned the lack of TV and mass advertising which has possibly had an effect on market share. Pepsi have spent a great deal more recently but we are yet to see the final outcomes.

Fortune magazine has ranked Indra Nooyi as the most powerful businesswoman in the world from 2006 - 10 consecutively.

So even though Indra Nooyi has been an incredible success story, she seems to have some issues to work out at Pepsi just now, but as history tells us, it is one of the hardest jobs in the Business world to try to overtake Coca Cola.

President John F. Kennedy

2011-11-23T21:12:00.007Z

This is not Business related, but something that some people and especially young school students find interesting.

Yesterday, some 48 years ago on November 22nd, 1963 President John F. Kennedy was assassinated in Dallas, Texas by Lee Harvey Oswald.

There have been many TV programmes an documentaries on recently, including a moving one on the men of the secret service detail who failed that day in Dallas.

The murder of JFK is one of those horrible but fascinating things that as a wee boy I used to wonder about. Last year I went to Dallas and visited the very place where the killing took place. I had watched the movie, JFK and saw many programmes, but none actually depict just how close the Texas School Book Depository actually is to Elm Street (hence Nightmare on Elm street), meaning that even a half decent shot with a rifle could hardly miss the target. A trained marine like Oswald would obviously be a decent shot.

The building is now a museum dedicated to the life of President Kennedy.

On a business note, horror novelist Stephen King has released a time travel novel called 11/22/63 about a man's attempt to change the course of history on the fateful day. I am actually reading the book just now, but I do wonder whether it really is in good taste to dangle such wish fulfilment and fantasy in front of such a tragic event.

Top 10 Most Stressful Jobs in America

2011-11-23T21:12:00.002Z

Following on from the most stressful jobs in the UK, here is what I have found for jobs in America.

Couple of different polls here:

10. Miner

9. Executive

8. Journalist

7. Pliot

6. Emergency services

5. Medics

4. Teacher

3. Police

2. Soldier

1. Parent

Or from CNBC:

10. Estate Agent

9. Emergency Services

8. Stockbroker

7. Architect

6. Advertising Account Executive

5. News Anchor

4. Photojournalist

3. Senior Executive

2. Public Relations Executive

1. Pilot

So have an investigation yourself and see what you come up with. All jobs have a level of stress, but there obviously are ones prone to more stress than others.

Executive Pay "corrosive"

2011-11-22T23:57:00.000Z

The high salaries of UK executives are "corrosive" to the economy, the High Pay Commission has argued.

The commission - set up by a pressure group - says the disparity between what top executives and average workers earn has been building for 30 years.

Its study lists a 12-point plan to stop "high pay creating inequalities last seen in the Victorian era".

Vince Cable, the Business Secretary, said he would be looking seriously at the proposals.

These include forcing companies to publish a pay ratio between the highest paid executive and the company median.

The High Pay Commission was set up by pressure group Compass, with backing from the Joseph Rowntree Charitable Trust, to investigate boardroom pay.

Its year-long inquiry found that the pay of top executives at a number of FTSE companies had risen by more than 4,000% on average in the last 30 years.

For the full article click here: http://www.bbc.co.uk/news/business-15827683

Bad Predictions

2011-11-21T20:54:00.027Z

"The horse is here to stay but theautomobile is only a novelty, a fad."

The president of the Michigan Savings Bank advising Henry Ford's lawyer not to invest in the Ford Motor Co., 1903.

"Radio has no future. Heavier-than-air flying machines are impossible. X-rays will prove to be a hoax." -- William Thomson, Lord Kelvin, British scientist, 1899. (Yeah we named Kelvingrove park after him!)

"It will be gone by June."

Variety, passing judgement on rock 'n roll in 1955.

"I think there is a world market for maybe five computers." -- Thomas Watson, chairman of IBM, 1943.

"Who the hell wants to hear actors talk?" -- H. M. Warner, Warner Brothers, 1927.

"There is no reason anyone would want a computer in their home." -- Ken Olson, president, chairman and founder of Digital Equipment Corp., 1977.

"We don't like their sound, and guitar music is on the way out."-- Decca Recording Co. rejecting the Beatles, 1962

"They couldn't hit an elephant at this dist----"

Last words of General John Sedgwick, spoken as he looked out over the parapet at enemy lines during the Battle of Spotsylvania in 1864 as he was shot by a sniper.

Seoul's own super skyscraper

2011-11-21T20:54:00.026Z

A new super skyscraper is being built in Seoul, South Korea and will be the largest tower in Asia when finished in 2014. Lotte Super Tower 123, designed by Kohn Pederson Fox, will be the second tallest skyscraper in the world behind Burj Khalifa in Dubai.

The giant tower act as the new HQ for Lotte Group, whose subsidairy, Lotte Construction, will build the skyscraper. The Lotte Super Tower 123 will have excellent green credentials and will offer the people of Seoul shops, apartments, offices and a hotel.

For more read here:

http://inhabitat.com/tallest-building-in-asia-revealed-for-seoul-south-korea/

ASIMO

2011-11-21T20:54:00.023Z

Remember when James May went to meet Asimo? The new generation of Asimo 2011 is even more advanced.

Asimo was 'born' in 1986 as Honda engineers wanted to create a walking robot. He is 5 ft 2 and can recognise certain faces and objects. Asimo can now run!

The ultimate aim is for Asimo to become a robot that can help us in our everyday activities.

For more info on Asimo click here:

http://asimo.honda.com/downloads/pdf/asimo-technical-faq.pdf

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