(Mon) Huawei prepares for life without Android, registers own OS
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Huawei is getting ready for life after Android. The Chinese phonemaker has applied to trademark its own operating system in at least nine countries and the EU. That comes after Washington banned U.S. firms from doing business with Huawei. It says the firm may collude with Chinese spies, and is a threat to national security – allegations Huawei firmly denies. The blacklisting means it could lose all access to Google's Android software. Its alternative is dubbed Hongmeng. Though media reports suggest it could be rebranded as Ark. Huawei has registered the OS in countries including Canada, New Zealand and South Korea. But swapping operating systems is no simple feat. For one thing, users will want to know whether apps made for Android will work in Hongmeng. Future Huawei phones may also have to go without popular Google apps like the Play Store, Gmail and YouTube. Even so, Huawei says it's ready to work around any U.S. ban.
(Tue) Mattel rejects MGA's bid again
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It looks like Barbie and Bratz won't become sisters after all. For the second time, the maker of Barbie, Mattel, rejected an offer to merge with Bratz's parent, MGA Entertainment, sending its shares sharply higher Wednesday. Mattel has seen its stock price plummet 37 percent over the last 12 months as it deals with struggling sales of its iconic Barbie dolls. It has issued a weak earnings forecast for 2019. But the toy maker's board said MGA's proposal was - in its words - "not in the best interests of its shareholders ." MGA CEO Isaac Larian, who shared with Reuters emails of his proposal , did not specify a price for his bid. But he told the Los Angeles Times it would be at a premium to Mattel's current market valuation. Mattel didn't respond to Reuters' request for comment.
(Wed) Investor love-in for South Korean hotel room app
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A dose of gentrification has got investors jumping into bed with South Korea's "love hotels." Mobile app for budget and short-stay rooms, Yanolja, is now valued at more than $1 billion, having secured $180 million from U.S. peer Booking Holdings, and Singapore sovereign wealth fund GIC. Yanolja's CEO told Reuters that many are keen to capitalize on the rise of the novel approach to short-stay accommodation. It's now hoping for an initial public offering as early as next year. Love hotels existed to offer privacy for as little as a few hours at minimal cost, often for young couples living with their parents. But association with affairs and prostitution has dented their reputation, exacerbated by their often garish decor and low lighting. Yanolja - which translates as "Hey, let's play" - has sought to dispel any stigma, promoting more modern love hotels. Targeting millennial couples, as well as budget tourists. The company was founded in 2005 by a former love hotel housekeeper. A decade later, Yanolja claimed to be the first firm to offer a reservation platform for mobile phones. A major shift in an industry which relied on walk-in customers. South Korea's online travel sales nearly doubled over the past five years to more than $20 billion last year. Mobile sales made up nearly half of the total. Yanolja's revenue also nearly doubled last year. Its CEO says it's now time to go global, with major plans to expand in hotels in Southeast Asia. Where it invested $15 million in ZEN Rooms last year.
(Thu) Walmart to stock groceries in your fridge
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Retailers like Walmart, Amazon and Kroger have been delivering groceries to homes, but now, Walmart is taking it one big step further : going into your home to stock your fridge. So no more worries about that milk souring on your doorstep while you're out of the house. Its so-called InHome Delivery service works like this: Customers order groceries online. A Walmart associate does the shopping , then goes from the food aisle to your fridge. The associate will use smart entry technology to enter the home and wear a body camera so customers can control access to their homes and watch the delivery being made on their mobile devices. Walmart will use its own workers to make the deliveries unlike the third party workers used when it tested the service two years ago.Service starts this fall in three cities - Kansas City, Missouri; Pittsburgh, Pennsylvania, and Vero Beach, Florida. No word yet on pricing.
(Fri) Toyota speeds up its electric vehicle plans
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Toyota is seriously speeding up its plans for electric cars. The Japanese auto giant now says half its global sales will be from electrified vehicles by 2025. That's five years earlier than in previous targets. On Friday it also showed off its early ideas on new EVs including some VERY small ones. Toyota says it's seeing fast growth in demand for the new-tech cars. It now thinks it won't be able to produce batteries fast enough. So it's tying up with big Chinese makers to secure supplies. Toyota was an early leader in hybrid vehicles with its Prius. It still foresees strong demand for such cars. But it's lagged rivals like Nissan and Volkswagen in pure electric offerings. Friday's announcement suggests its intent on catching up.
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* [Graphic News] Messi sports world¡¯s highest earner
Lionel Messi was the world¡¯s highest-paid athlete in 2018, Forbes reported June 11. The soccer star raked in $127 million in the year via salary and endorsement deals. That put Messi ahead of longtime rival Cristiano Ronaldo, the Juventus and Portugal star who was second with earnings of $109 million. Brazil and Paris Saint-Germain striker Neymar came in third with earnings of $105 million, completing the sweep for soccer players of the top three positions on the list.
* Prosecution eyes harsh penalties for serious DUI accidents
Prosecutors will demand harsh penalties, including life sentences, for drivers who kill or severely injure people while driving under the influence of alochol, according to the prosecutor¡¯s office Sunday. Under the revised guidelines that will go into force from Tuesday, prosecutors are advised to seek the maximum penalty for drunk drivers who cause unusually severe damage or who have habitually driven under influence. The guidelines also make it a rule to put into custody drunk drivers who are accused of killing or severely injuring others while driving with a blood alcohol level of 0.08 percent or higher.
* Disney and Soros among super-rich urging US government: tax us more
More than a dozen prominent US billionaires are calling for a new government tax on extreme wealth to help combat income inequality, provide funding for climate change initiatives and range of public health issues. Addressed to ¡°2020 presidential candidates¡±, billionaire signatories to the letter include financier George Soros, heiresses Liesel and Regan Pritzker, Abigail Disney and Facebook co-founder Chris Hughes. The letter calls for a raise in federal wealth taxes to ¡°substantially fund¡± new investment in sectors including clean energy, universal childcare, student loan debt relief, improvements in infrastructure, and tax relief for low-income families. ¡°America has a moral, ethical and economic responsibility to tax our wealth more,¡± the 19 signatories to the letter urged.
* Bernie Sanders unveils plan to eliminate $1.6tn in student loan debt
Bernie Sanders on Monday introduced legislation to eliminate the entire $1.6tn in student loan debt owed by 45 million Americans. The Vermont senator announced the move as he vies for the Democratic presidential nomination in a primary contest marked by sweeping economic proposals. This initiative builds on Sanders¡¯ previous higher education plan, and would make two- and four-year public colleges and universities tuition-free and debt-free. The plan would cost $2.2tn over the next decade, a figure Sanders proposes to pay through a tax on Wall Street. ¡°This is truly a revolutionary proposal which accomplishes three major goals,¡± Sanders said in Washington on Monday. ¡°In a highly competitive global economy, it makes certain that all Americans, regardless of income, can get the college education or job training they need to secure decent-paying jobs by making public colleges, universities and trade schools tuition-free and debt-free.¡±