Thursday, 8 October 2015

KFC-Owner's Shares Plunge 18% On China Woes

                                   Customer walks out of a KFC store in downtown Shanghai
Shares in Yum Brands - the company behind Pizza Hut and KFC - dived 18% on Wednesday after it cut its profit outlook on continued weakness in China.
China - a market which accounts for half the company's operating profits - has proved a struggle for restaurant chains in recent years following food safety scandals which hit local suppliers.
In its third quarter update, Yum said a slower-than-expected comeback there was the reason for the downgrade to its full-year profit forecast, with earnings per share (EPS) now expected to rise by a low single-digit percentage.
It had previously forecast growth of 10%.
Sales in China rose by 2% in the three months to 5 September, despite strong marketing activity.
The company has spent big to try and win customers back since the food controversies which saw KFC's local suppliers accused of pumping chicken with excessive levels of antibiotics.
A separate scandal later emerged when supply workers were filmed allegedly re-using meat that had fallen on the ground.
Chief executive Greg Creed said of the results: “The pace of recovery in our China division is below our expectations.
"Outside of China, our Taco Bell and KFC Divisions continued to sustain their positive sales momentum while Pizza Hut was relatively flat.
"Given our lower full-year expectations in China, combined with additional foreign exchange impact, we now expect 2015 EPS growth to be well below our target of at least 10%."
Shares fell by up to 18% in after-hours trading after the results were released - a decline that was matched when trading began on Wednesday.

Facebook Plan To 'Deliver Internet From Space'

                               Facebook Satellite To 'Deliver Internet From Space'

Facebook's founder is planning to launch a satellite to deliver internet services to remote parts of Africa under his controversial Internet.org scheme.
In a post on the social network, Mark Zuckerberg said he hoped the move would connect "millions" to the internet.
The satellite, due to launch next year, is currently being built under a partnership with French firm Eutelsat.
It would allow mobile users to download an app containing free data access to selected services, including Facebook.
The decision underlines the scale of the billionaire's ambition to boost connectivity in emerging internet markets but the scheme has been met with opposition in many countries such as Uganda, India and Indonesia.
Critics argue that it risks damaging investment by competing mobile operators and the principle of net neutrality because only selected services will be available by Internet.org.
Mr Zuckerberg said: ""Over the last year Facebook has been exploring ways to use aircraft and satellites to beam internet access down into communities from the sky.
"To connect people living in remote regions, traditional connectivity infrastructure is often difficult and inefficient, so we need to invent new technologies.
"The AMOS-6 satellite is under construction now and will launch in 2016 into a geostationary orbit that will cover large parts of West, East and Southern Africa.
"We're going to work with local partners across these regions to help communities begin accessing internet services provided through satellite."
The project has previously been testing other means of delivery, including solar-powered drones.
Eutelsat said users would be able to access the internet from the satellite on "affordable, off-the-shelf customer equipment" from the second half of next year.

Tuesday, 6 October 2015

Google invests in Bloomberg rival Symphony

Symphony's chat service allows financial firms, corporate customers and individuals to put all of their digital communications on one centralised platform

A Google Inc member of staff walks through the company headquarters in London, UK

Google is in talks with messaging start-up Symphony CommunicationServices for a round of fundraising, according to reports.
Symphony's chat service, which is seen as a rival to Bloomberg, allows financial firms, corporate customers and individuals to put all of their digital communications on one centralised platform.
The talks are ongoing and no terms are finalized yet.
The Wall Street Journal reported that Google invested in a new round of funding for Symphony that values the company at about $650m.
The service is backed by Goldman Sachs and other big Wall Street banks.
Goldman led a group of 14 banks including Bank of America, Citigroup and JP Morgan Chase in making a $66m investment in Symphony last October, when Symphony was set up. Symphony did not immediately respond to requests for comment.

Man Buys Google.com Domain Name For $12

The former employee says he was surprised when the world famous domain name was made available for him to buy.

                           Google Updates Its Logo

A man has successfully bought Google.com - the domain name for the world's most popular website - for just $12.
Sanmay Ved was using Google's new domain sale service when he tried typing in the well-known address.
He was shocked when it was shown as available to buy, so he clicked the 'add to cart' button.
He said: "I was hoping I would get an error at sometime saying transaction did not go through, but I was able to complete the purchase, and my credit card was actually charged."
After the purchase was completed, he received two emails confirming the bargain.
Ownership was officially transferred to him, but minutes later he received an email from Google saying they had cancelled the order.
Mr Ved - a former Google employee - says he has contacted the firm's security team to alert them to the breach.
The incident has echoes of an embarrassing lapse by Microsoft in 2003, when it forgot to renew its Hotmail.co.uk domain name.

Twitter names Jack Dorsey as CEO

Jack Dorsey is Twitter's new CEO -- permanently.

                            Jack Dorsey, interim CEO of Twitter and CEO of Square, goes for a walk on the first day of the annual Allen and Co. media conference in Sun Valley

Jack Dorsey has said he wants Twitter "to exceed the world's expectations" for the US tech company as he was confirmed as its chief executive officer for a second stint.
Twitter's shares rose as much as 7% after the announcement, which ended months of speculation about who would take the top job at the microblogging service.
Mr Dorsey has been interim CEO to much acclaim since his predecessor, Dick Costolo, stepped down in July.
The company has confirmed to Sky News he will not be paid for the role.
Some investors say the 38-year-old boss is a more effective leader now than in 2008, when he was fired from his first stint as CEO.

Thursday, 1 October 2015

Google's algorithm for happiness "Be Happy"

                                
Deep inside the global tech behemoth Google sits an engineer with an unusual job description: to make people happier and the world more peaceful.
A few years ago, Chade-Meng Tan, one of the company's first engineering employees in Mountain View, noticed many of his colleagues were stressed out and unhappy at work, so he decided to do something about it. He persuaded his bosses to let him create a course that would teach employees mindfulness skills to enhance emotional intelligence and promote wellbeing, and he transitioned to the HR department to run it. In a nod to his employer, he called it Search Inside Yourself, an admittedly corny name that is also the title of his book about the course's techniques.
At the 2014 SXSW festival in Austin, Texas, I was curious about Meng's panel, called "Make Yourself the Happiest Person on Earth." Not surprisingly, given the talk's promise, every seat and spot of floor space in the hotel ballroom was filled. Meng promised he was going to teach us the "scientifically proven" secret of happiness in three easy steps.
I was fascinated, but naturally skeptical. So in the weeks afterwards, I decided to try Meng's three-step advice for myself to see if it made me happier. I also took a closer look at the science that he claims support his techniques. Could there be anything to it? Let's look at each of the steps in turn.

Step one: "Calm your mind"

To introduce his first piece of advice, Meng led the SXSW audience through a short collective breathing exercise to calm the fluffy particles in the "snow-globes" (his metaphor) in our skulls. He advocates finding easy ways to take pauses during the day and be mindful of your breath. "If that's too hard, then just think about nothing for little bit," he joked.
His book goes into more detail, focusing on what meditation is and how to begin practicing it, citing a study by Jon Kabat-Zinn at the University of Massachusetts Medical School that mindfulness-training reduces reported anxiety.
    Meng is not the only one to suggest that meditation and mindfulness is good for our mental health. For example, the monk Matthieu Ricard, who the press has dubbed "the world's happiest man" haswritten a book on the topic himself.
    But does it work? There is some evidence that mindfulness can help stave off negative thoughts. A recent review of 209 studies found that the practice can help treat depression, anxiety and stress. (Some researchers even claim that the stress-reduction promised by meditation could help slow the effects of aging.)
    It's worth pointing out that dealing with depression and anxiety is not necessarily the same thing as boosting happiness. Still, Meng's first piece of happiness advice appears to have growing scientific credence.

    Step two: "Log moments of joy"

    This means simply saying to yourself -- as you sip a great espresso, laugh at your friend's joke or buy that shirt you've wanted -- "I am having a moment of joy!" When negative things happen to us throughout the day we tend to hold on to them, while the good things are more fleeting and ephemeral. So, by consciously acknowledging the good things, says Meng, we increase our chances that when we reflect on our day, we conclude it was happy one.
    The hypothesis that noting positive experiences counterbalances, or outweighs, negatives makes intuitive sense. We can all relate to the power of a single, even short-lived incident tainting a whole day, but rarely does the reverse seem true. As Johnny Mercer sang, you have to "accentuate the positive, eliminate the negative."
    Recent studies have tried to explore this effect, including one by positive psychology researcher Barbara Fredrickson, which concluded we need a 3:1 positive-to-negative ratio of thoughts to free our minds from the tar-paper effect of negative thinking. However, this particular study has proven controversial, with some researchers questioning the mathematical claims made in the paper.
    One 2006 study, however, found that people who wrote down their positive experiences in a diaryreported greater feelings of life satisfaction, and the effect lasted for up to two weeks afterwards.

    Step three: "Wish other people to be happy"

    According to Meng, altruistic thoughts benefit us because we derive a lot of joy from giving, even more than from receiving.
    Meng makes eloquent arguments for the (I think) self-evident need to infuse your life with more compassion, but only cites one study -- on people performing acts for others -- to back his claim that "kindness is a sustainable source of happiness."
    In his book Happiness: A Very Short Introduction, the philosopher Daniel Haybron supports Meng's case by citing other researchers, particularly psychologist Michael Argyle who has suggested "only dancing generated higher 'levels of joy' than volunteer and charity work." Fredrickson, too, has studied the benefits of a form of meditation that involved thinking positive thoughts about others. She asked people to try the technique for a few minutes a day for several weeks, and many reported feeling more joyful and hopeful.
    But we're still far from Meng's logic leap that just thinking well for others is enough. We'd be kidding ourselves if we think that wanting someone else to be happy is the same thing as actually doing something to make them happy, such as giving them a gift or, apparently, taking them dancing.

    Once-Ousted Twitter Boss Set To Return As Chief

                                  Jack Dorsey, founder of Twitter.

    Jack Dorsey, the once-ousted co-founder of Twitter, is expected to be named as the site's permanent chief executive as early as today.
    Respected technology website re/code says Mr Dorsey will juggle his role as boss of payment company Square alongside the social network.
    He was fired by Twitter's board in 2008, after presiding over endless '#failwhale' site outages.
    A book called Hatching Twitter by Nick Bilton later claimed that he was a poor manager who handled criticism badly and took credit for ideas which were not his.
    If he does return as permanent boss, people are likely to draw comparisons between him and Steve Jobs.
    The Apple founder was booted out of the company he founded, only to return to take it to unprecedented heights.
    Twitter has been hunting for a new boss since Dick Costolo stepped down in June, but repeatedly said that the role was a full-time job.
    The statements suggested that Mr Dorsey - who took on the role on a temporary basis - was out of the race, as he'd said he would not step down from his role at Square for the Twitter role.
    But reports say the board is in favour of making him permanent chief executive to reverse an apparent downturn in Twitter's fortunes.
    In August its stock hit an all-time low, and key members of the firm's top team quit.