Saturday, June 22, 2013

Mud-slinging Behind The Scenes As Malaysia's Taxi Apps Duke It Out

taxi malaysiaThere is an ongoing land grab for taxi drivers in Malaysia, with taxi app startups aggressively targeting the handful of taxi drivers keen to jump on a digital platform. Two year-old taxi booking startup, MyTeksi has been busy recruiting cab drivers over to its service. When I visited its offices two weeks ago, Aaron Gill, MyTeksi’s product and marketing head, said the company ramped up its efforts over the past six months to convince drivers to get smartphones and data plans. It’s had to sell the benefits of getting hooked up to a service that allows drivers to receive jobs, rather than have to drive around looking for passengers by the side of the road. So far, MyTeksi has recruited about 2,500 drivers covering the capital city of Kuala Lumpur, as well as Putrajaya, Selangor and Negeri Sembilan. The platform receives one booking every eight seconds, or 10,000 per day, which nets the company about $3,100 (10,000 MYR) daily. Several competitors have joined the fray: Hopcab and TaxiMonger launched last year. But things really started heating up in the past month, when Rocket Internet debuted its Easytaxi service in the country. Since Easytaxi’s launch, there have been rumors of its staff approaching cabs with MyTeksi decals and getting them to hop over to Easytaxi instead. Sources close to the companies said that Easytaxi’s staff have also helped delete the MyTeksi app from drivers’ handsets, instead replacing them with Easytaxi’s app. Joon Chan, managing director at Rocket Internet did little to deny the rumors. “Drivers are free to use any app they want on their phones. It’s only fair since they pay for their own phones and data plans,” he said. He added that only about 10 to 15 percent of the drivers in the country have smartphones, indicating that the addressable pool of drivers is even smaller. But MyTeksi may be deploying its own anti-competitive tactics. Chan produced a photo of the MyTeksi app apparently prompting the driver to remove the Easytaxi app. Chan said Easytaxi started driver acquisition on the 12th of May, and has been putting up kiosks at gas stations to recruit drivers. The startup is expanding quickly?in the past month, it’s added five new employees each week, he said. Gill of MyTeksi, commenting on Rocket’s entrance in its space, said: “They’ve made us better and sharper. We are growing our fleet at a faster pace now,

Source: http://feedproxy.google.com/~r/Techcrunch/~3/dqxKKnqOmmg/

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Thursday, June 20, 2013

Mum's the word on Hossa amid NHL's injury culture

BOSTON (AP) ? Chicago Blackhawks coach Joel Quenneville didn't want to talk about the injury that forced him to scratch forward Marian Hossa from the Stanley Cup finals against the Boston Bruins.

And why not?

"I think that's self-explanatory," Quenneville said, once again declining to explain the secrecy that is as much a part of the NHL culture as playoff beards and Zambonis.

Hossa's surprise scratch from Game 3 and the one-word explanation ? "upper" ? for the part of his body that was injured is part of a long-running cat-and-mouse game NHL teams play. The theory goes that any revealing information about injuries could become a competitive disadvantage.

Hossa is expected to play in Game 4, Quenneville said Tuesday, but only after making it clear that "I'm not going to get (into) exactly what the injury is or where it occurred."

"It's sort of a secret society in the hockey world and in the injury world," Blackhawks forward Dave Bolland said. "You don't want other teams having any injury information at all."

Asked if he had seen Hossa or had a chance to talk to him, Bolland said, "I don't know."

You don't know if you've seen him or talked to him?

"I don't know if I've seen him," Bolland repeated with a sly smile.

Tuukka Rask stopped 28 shots from the depleted Blackhawks to help the Bruins win 2-0 on Monday night and move two wins from their second Stanley Cup title in three seasons.

Game 4 is Wednesday night in Boston before the series returns to Chicago for a fifth game.

Hossa's mysterious injury may have been a turning point in Game 3, but it's hardly unusual in the secretive world of hockey injuries. Players and coaches say they just don't talk about what's hurting, partly because they don't want to seem weak in a sport where they hit each other for a living.

But mostly they don't want let the other team know where to aim.

"If I'm going out to battle and I have an injury to any part of my body, I don't want the other side to know what it is," Bruins forward Shawn Thornton said.

Injury information can also help the opponent strategize. Quenneville was so concerned about giving the Bruins advance notice of even a few minutes that he didn't let substitute Ben Smith skate in the warmup even though there was a chance he would need to play.

"I just didn't want to tip our hand that there's something going on," the coach said.

"Ben was ready. I knew he was doing everything," Quenneville said. "We were hopeful that Hoss was playing, and Ben was doing everything to get ready. He was ready."

No hard feelings, Bruins coach Claude Julien said. After all, he would do ? and has done ? the same thing.

"I respect that from other teams. When you're playing against each other, you know exactly where everybody is coming from," Julien said.

"There's times where you have to protect your players, and I understand it. I know it's frustrating for you guys as media. You're trying to share that information. The most important thing for us, we can take the heat for that, is protecting your players."

So, how to tell if an injury is minor? When a team actually admits it exists.

"I'll share one with you: Yesterday in a warmup, Zdeno Chara fell down, got a cut over the eye," Julien said, to laughter, of the injury to his captain that had already been confirmed and reported. "I'll let you know about that. That's not a hidden injury."

The Bruins also confirmed without delay the broken leg that knocked Gregory Campbell out of the Eastern Conference finals against Pittsburgh. But that was only because Campbell was out for the season after taking a shot to his leg on national TV and struggling to get off the ice.

"If it's something that doesn't put your player in danger, I don't see why you shouldn't talk about it," Julien said.

Players say they don't have to be told not to discuss injuries; they grow up with the culture in junior and minor leagues. Blackhawks forward Patrick Sharp said he doesn't remember when he first learned the subject was off-limits, but it was long before he reached the NHL.

And hockey players are not alone.

"It's not just here," Thornton said. "I don't think Bill Belichick is (listing) all the injuries they have, either."

But even the notoriously uncommunicative New England Patriots coach is required by NFL rules to say what body part is injured. NHL coaches have to narrow it only to "upper body" or "lower body," which means a player with a concussion and one with a broken finger would have the same diagnosis.

During the playoffs, information is even more scarce.

"It's that time of year where everybody's kind of battling. I would say that not just injuries, strategy, all that kind of information we're not going to talk about," Sharp said. "It's all part of being this close to the ultimate goal."

And does he have any injuries he cares to mention?

"No comment."

___

Follow Jimmy Golen on Twitter at: http://www.twitter.com/jgolen

Source: http://news.yahoo.com/mums-word-hossa-amid-nhls-injury-culture-074432037.html

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China's Credit Bubble About to Implode: Fitch Analyst ? Yahoo ...

One prediction made more than any other over the past couple of decades is that China?s miraculous economy is headed for a fall.

China bears have pointed to a long list of disasters-in-the-making: questionable economic statistics, skyrocketing real-estate prices, ghost cities, corruption, pollution, civil unrest and growing debt.

Yet, despite all of these concerns, China?s economic machine just keeps chugging along.

But this time it?s going to be different!, says an analyst from Fitch. This time, China really is screwed.

According to Ambrose Evans-Pritchard of the Telegraph, Fitch analyst Charlene Chu has concluded that China?s growth is fueled by a credit bubble that is unlike anything the modern world has ever seen. This debt bubble is leading to massive overbuilding, Chu says. And when it finally bursts, as debt bubbles always do, China will be looking at a Japan-style depression and deflation.

Related: China Has Been and Will COntinue to Be a Bad Place to Invest: Jim Chanos

Given the number of China doom prophesies that have been made over the past two decades, you can be forgiven for rolling your eyes at this one and moving on. But Chu does cite some startling statistics, including the claim that China?s debt-to-GDP ratio has quietly shot up to more than 200% and that each additional yuan borrowed is producing ever less growth.

If there?s any hard law of finance, it?s that what can?t go on forever won?t. And borrowing at this rate relative to economic growth can?t go on forever.

That said, as always, the key question is ?when does it end??

At some point, China?s economy will almost certainly go through the same sort of violent setbacks that every economy goes through, including the economy with which China?s is compared?the U.S. economy.

Related: Why Slower Growth is GOOD for China: Stephen Roach

The growth of the U.S. economy over the past century has been nothing short of miraculous. But it has been anything but a smooth ride. Amid decades of expansion, the U.S. has gone through several decade-long periods of depression and stagnation, often following debt buildups just like the one China appears to be experiencing. In fact, the U.S. economy is still struggling to move past its latest debt-fueled bubble, the housing boom that turned to bust five years ago and took the country down with it.

If China manages to avoid this boom-bust pattern, the country?s resurgence really will be miraculous. And what is likely to send the Chinese economy into its own depression is exactly the sort of debt buildup that Chu describes.

Again, however, the key question is ?when??

Booms often last much longer than most analysts think they can. And unless or until we know exactly when China?s boom will end?which, if history is a guide, we won?t know until after the fact?it?s hard to make decisions based on this forecast.

Yes, at some point, China?s economy will crack. Alas, no one knows when.Watch the video above to hear why you, too, should be concerned about what?s happening with China?s economy.

Tell Us What You Think!

Got a topic you?d like covered? Have a guest you?d like to see interviewed? Send an email to:thedailyticker@yahoo.com.

You can also look us up on Twitter and Facebook.

More From The Daily Ticker:

Are Average Investors Better Off Since Crisis? Top Regulator Says: Not Really

Source: http://www.latestcurrentnews.com/chinas-credit-bubble-about-to-implode-fitch-analyst-yahoo-finance-blog/

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Wednesday, June 19, 2013

Lenovo unveils 15-inch ThinkPad S531 Ultrabook

Lenovo unveils 15inch ThinkPad S531 Ultrabook, sticks to Ivy Bridge

As quick as Lenovo has been to hop on the Ultrabook bandwagon, it hasn't been so eager to launch big-screened models. Its new ThinkPad S531 explores that territory at last: the Windows 8 PC mates a slim profile with both a 15.6-inch, lay-flat LCD and a large keyboard. The experience will otherwise be familiar to those who've seen the S431, as it shares the same basic design language, the OneLink dock connector and a nine-hour battery. Unfortunately, the similarity also extends to the Ivy Bridge-era Intel processor -- there's no Haswell inside, at least for now. Still, the £575 ($900) UK price is within reach of many buyers, and there's a 1080p display option coming in July. Lenovo hasn't said if or when the S531 will reach the US, although we hope it gets a processor upgrade if and when it crosses the Atlantic.

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Source: Lenovo

Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/xBuRTduCd2k/

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World stock markets mixed ahead of US Fed meeting

TOKYO (AP) ? Global stock markets traded fitfully Tuesday as investors watched for signs of a possible change in U.S. stimulus efforts by the Federal Reserve.

In early European trading, the FTSE 100 of leading British shares rose 0.4 percent to 6,358.57 while Germany's DAX slipped 0.1 percent to 8,207.36. The CAC-40 in France fell 0.1 percent to 3,860.77.

Shares had advanced Monday on growing expectations that the Fed will maintain its current policy stance when policymakers meet this week. But that optimism appears to be wavering.

"There is still some selling pressure but overall the markets are sidelined. Investors are quite cautious about the Federal Reserve meeting," said Linus Yip, a strategist at First Shanghai Securities in Hong Kong. "The market will wait."

Apart from worries over the outlook for a scaling back of stimulus policies that might adversely affect liquidity in global markets, signs that China's growth has slowed for some time to come are also tempering buying enthusiasm, Yip said.

Futures in New York pointed to a higher opening on Wall Street. Dow Jones industrial futures rose 0.2 percent to 15,151 while S&P 500 futures advanced 0.2 percent to 16,37.20.

Asia's biggest benchmark, Japan's Nikkei stock average, shed early gains to fall 0.2 percent to 13,007.28. Trading volume was the lowest for the year. Sony jumped 4.4 percent following reports that the U.S. hedge fund Third Point LLC has increased its holdings in the electronics company.

Hong Kong's Hang Seng index was nearly flat at 21,225.88, while South Korea's KOSPI index recovered from early losses to gain 0.9 percent at 1,900.62.

Shares rose in Singapore, Taiwan, Indonesia and New Zealand rose. Australia's S&P/ASX 200 fell 0.2 percent to 4,814.40.

Markets have gyrated in recent weeks on worries the Fed might choose to start cutting back on the volume of its financial asset purchases, which are intended to encourage spending and investment by helping to keep interest rates low.

Investors were spooked when Fed chairman Ben Bernanke suggested the U.S. central bank might ease its aggressive support for the U.S. economy if indicators such as hiring improve. Markets across Asia were hit by sharp drops in share prices as investors pulled back from emerging markets.

A meeting of leaders from the Group of Eight top industrial countries in Northern Ireland appeared to have little impact on the markets given the gathering's main focus on diplomatic issues such as Syria and North Korea.

Oil prices fell ahead of the Fed's meeting, with the benchmark New York rate down 23 cents at $97.54. The contract fell 8 cents to finish at $97.77 a barrel on the Nymex on Monday.

In currencies, the euro rose to $1.3388 from $1.3340 late Monday in New York. The dollar rose to 95.11 yen from 94.86 yen.

Source: http://news.yahoo.com/world-stock-markets-mixed-ahead-us-fed-meeting-085014229.html

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Tuesday, June 18, 2013

Futures rising ahead of Fed's 2-day policy meeting

In this Tuesday, June 11, 2013, photo, specialist Christopher Carella works on the floor of the New York Stock Exchange. Global stock markets edged up Monday June 17, 2013 amid hopes that the U.S. Federal Reserve will put off plans to wind down its stimulus program. (AP Photo/Richard Drew)

In this Tuesday, June 11, 2013, photo, specialist Christopher Carella works on the floor of the New York Stock Exchange. Global stock markets edged up Monday June 17, 2013 amid hopes that the U.S. Federal Reserve will put off plans to wind down its stimulus program. (AP Photo/Richard Drew)

(AP) ? U.S. stock futures are rising sharply ahead of this week's two-day policy meeting of the U.S. Federal Reserve.

Dow Jones futures are up 124 points to 15,112. S&P futures have added 14.3 points to 1,632.70. Nasdaq futures are up 29 points to 2,966.

Markets have been roiled by uncertainty for several weeks regarding the Fed's commitment to a massive bond-buying program that has kept interest rates low and money flowing in domestic and global markets.

The consensus appears to be that while those programs will end, it will be some time before they do, and that it will happen when the economy in better shape. The Fed wraps up its meeting Wednesday.

The National Association of Home Builders releases its housing market index for June on Monday.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2013-06-17-US-Wall-Street-Premarket/id-21be7b7fa97f4b38b0c914c6d0f3c6d4

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Perry still leads Abbott in UT/TT poll (Offthekuff)

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