Donatella Versace says label will stop using fur in products

Donatella Versace has said her family's luxury fashion label will no longer use real furs in its products, according to an interview with a British magazine.The Italian fashion queen and Versace's creative director told The Economist's 1843 magazine that it would stop the practice, without providing further details on the change."Fur? I am out of that," Versace said. "I don't want to kill animals to make fashion."It doesn't feel right." (W Magazine)Versace's headquarters in Milan, Italy, could n

March 15, 2018

[Graphic News] Bezos tops Forbes world's rich list

　Amazon chief Jeff Bezos is now the world's richest person, having snatched the top spot from Microsoft founder Bill Gates, who slipped to second place, according to Forbes magazine's annual billionaires list.　US President Donald Trump's ranking on the list fell to 766th place from 544th in the last edition, his wealth now being estimated at $3.1 billion, $400 million less than a year ago.　Bezos' fortune shot up to $112 billion, Forbes said, after a 59 percent rise in Amazon shares over the past

March 12, 2018

[Graphic News] Main sources of US steel, aluminum imports

   Last week, President Donald Trump said the US would impose tariffs of 25 percent on steel imports and 10 percent on aluminum. 　Last year, US imports of steel, iron and ferroalloy jumped 38 percent over 2016 levels to $33.5 billion, according to data from the Commerce Department. Imports of aluminum oxide and aluminum also rose 32 percent last year. Canada was by far the largest supplier, accounting for 40 percent of the imports.

March 11, 2018

Cigna and Express Scripts in $67 bn health merger

NEW YORK -- Health service provider Cigna said Thursday it had reached an agreement to acquire pharmacy benefits manager Express Scripts in a cash and stock deal worth approximately $67 billion (54 billion euros).The firms said the deal would create a wider portfolio of health services with greater choice, as well as helping make them more affordable."Together, our two organizations will help make the healthiest choices the easiest choices, putting health and pharmacy services within reach of ev

March 8, 2018

[Graphic News] Global cybercrime costs $600b annually: study

　The annual cost of cybercrime has hit $600 billion worldwide, fueled by the growing sophistication of hackers and proliferation of criminal marketplaces and cryptocurrencies, researchers said Wednesday.　A report by the security firm McAfee with the Center for Strategic and International Studies found theft of intellectual property represents about one-quarter of the cost of cybercrime in 2017, and that other attacks, such as those involving ransomware, are growing at a fast pace.　Russia, North

March 7, 2018

[Graphic News] China is top steel producing country

　China produced 808.4 million metric tons of Crude Steel, accounting for 50.3 percent of the world’s total production. China is home to the largest steel producing companies - mostly state-owned - such as Hebei Iron and Steel Group, Angang Steel Co., Baosteel, Wuhan Iron and Steel Corp., and Jiangsu Shagang Co. 　Last week, China warned that US President Donald Trump’s vow to impose high tariffs on steel and aluminum would have a “huge impact” on the global trade order, adding that Beijing would

March 5, 2018

[Graphic News] Apple overtakes Samsung in global smartphone dominance

　US tech giant Apple shipped 77.3 million smartphones worldwide in the fourth quarter of 2017, an industry tracker said, overtaking Samsung Electronics in the global market.　Apple captured first place with 19.3 percent global market share, nudging Samsung into second place, Strategy Analytics said in a report.　The industry tracker said there was robust demand for the iPhone X, though global iPhone volumes have been on the decline on an annual basis for five of the past eight quarters.　Samsung El

Feb. 4, 2018

Amazon, Berkshire, JPMorgan to set up a health company for staff

Amazon.com Inc., Berkshire Hathaway Inc. and JPMorgan Chase & Co. said they plan to collaborate on a way to offer health-care services to their US employees.The three companies said they plan to set up a new independent company "that is free from profit-making incentives and constraints," according to a statement on Tuesday. The initial focus will be on technology solutions to provide health care "at a reasonable cost." This combination of photos from left shows Warren Buffett on Sept. 19, 2017,

Jan. 30, 2018

Volkswagen suspends executive over monkey trials

Automaker Volkswagen has suspended its head of external relations and sustainability in response to the controversy over experiments in which monkeys were exposed to diesel exhaust. The company said in a statement Tuesday that Thomas Steg was stepping away from his duties at his own request.  (AFP-Yonhap)The statement said the company was "drawing the first consequences" as it investigates the activities of EUGT, the entity backed by Volkswagen and other carmakers that commissioned the monkey ex

Jan. 30, 2018

[Graphic News] World's most innovative companies

　Samsung Group has been named the world’s fifth most innovative company, according to a survey report published by the Boston Consulting Group. 　Apple took the top spot. Google, Tesla and Microsoft took up the following positions. 　The list was based on a survey of over 1,000 senior innovation leaders from a wide variety of countries and industries. 

Jan. 22, 2018

[Graphic News] India the top remittance receiving country in world

　Indians working abroad sent home $68 billion in 2015, making India the top remittance receiving country, surpassing China. Other top receiving countries for remittances from Asia include the Philippines, Pakistan, Bangladesh and Vietnam.　Indians working abroad continue to send more money home than their counterparts from other countries, according to World Bank figures on migration and remittances. India topped the list with $68.91 billion in remittance inflows, followed closely by China at $63

Jan. 7, 2018

[Graphic News] Korean airlines’ economy-class food, seats top 5 in world

　Airlines with the best economy-class food and seats have been named by aviation consumer website Skytrax. 　South Korea’s largest airline Korean Air’s economy-class seats ranked fourth in the world, while the country’s second-largest airline Asiana ranked third in catering and second in seats. 　The survey was based on 19.87 million travelers from 105 countries and covered more than 320 airlines. It considered factors such as boarding procedures, the quality of service and the comfort of seats. 

Dec. 28, 2017

China imposes new restrictions on outbound investment

BEIJING -- China has issued new rules increasing oversight of overseas acquisitions by its companies, as it seeks to reduce investment in assets ranging from golf courses and movie studios to football clubs.The rules are the latest attempt to stem the tidal wave of capital that has flown out of the country in recent years, a trend which regulators fear could threaten financial stability at home.(123rf)The country in August announced rules to restrict investment overseas in some previously encour

Dec. 27, 2017

[Graphic News] Korea files 3rd-largest number of AI patents in world

　A South Korean state-run agency said local companies have filed the third-largest number of patents related to artificial intelligence over the past 12 years.　The Institute for Information and Communications Technology Promotion said its finding was based on patent applications for AI-related technologies in the US, Japan, China, the EU and South Korea from January 2005 to September this year.　The US ranked No. 1 in terms of the number of AI patents, followed by Japan, South Korea and Germany.　

Dec. 26, 2017

[Graphic News] Online holiday shopping rises in US

　As the Christmas shopping season enters its final phase Friday, for the first time, a majority of Americans, 53 percent, have said they were very or somewhat likely to do their Christmas shopping online this year. This is the highest percentage since Gallup first asked the question in 1998. Meanwhile, the percentages of Americans shopping for gifts in department stores and discount stores have slowly been declining, but these still beat the internet as places Americans will shop for the holiday

Dec. 18, 2017

[Graphic News] Seoul 3rd most expensive city in Asia for expats

　Seoul has ranked as the third most expensive location in Asia for expatriates, according to the latest cost of living survey by ECA International.　Korea’s second-largest city Busan also placed 10th, according to the survey.　Tokyo retained its crown atop the Asia-Pacific pack, as a financial hub. Hong Kong was No. 2.　The survey was based on cost of living, salary, accommodations, taxes, labor laws, benefits and quality of life for international assignees in over 262 cities worldwide.

Dec. 17, 2017

Disney says to buy parts of 21st Century Fox for $52.4 bn

Walt Disney Co. said Thursday it had reached a deal to buy 21st Century Fox for $52.4 billion (44.3 billion euros) in stock, solidifying its position as a producer of entertainment content as it faces new rivals from Silicon Valley.The deal will see Disney acquire film and television studios, cable entertainment networks and international TV businesses, bringing popular entertainment properties including X-Men, Avatar, The Simpsons, FX Networks and National Geographic into Disney's portfolio.21s

Dec. 14, 2017

In tax shift, Facebook to declare ad revenues locally

NEW YORK (AFP) - Facebook, in a bow to transparency, has announced it plans to declare certain ad revenues in the country where they are made and not in Ireland, where it has a greater tax advantage.　The social networking giant said the move was in response to pressure from governments and policy makers for greater visibility into sales made in their countries.　“In simple terms, this means that advertising revenue supported by our local teams will no longer be recorded by our international headq

Dec. 13, 2017

[Graphic News] Facebook tops list of best places to work

　Facebook has been named the best place to work in the US, according to a list released by Glassdoor, a career listing and employer review site.　Global management consulting firm Bain & Company ranked as the second best place to work, followed by Boston Consulting Group, In-N-Out Burger and Google. 　The ranking was based on employee reviews, which touch on how satisfied employees are with the employer, CEO and other key workplace factors.

Dec. 12, 2017

[Graphic News] S. Korea 4th easiest in world to do business

　South Korea ranked No. 4 among the easiest places in the world to do business, according to the “Doing Business 2018: Reforming to Create” report released by the World Bank.　New Zealand was No. 1, followed by Singapore and Denmark.　Starting a new business in New Zealand takes the fewest procedures (one) and shortest time to fulfill (0.5 day), according to the report.　The ranking uses 11 indicators to measure aspects of business regulation across 190 countries worldwide. Of the top 20 economies

Dec. 10, 2017