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Showing posts from September, 2012

Analysis: IPhone 5 defines Apple success, Tim Cook-style

Tim Cook is no Steve Jobs when it comes to leading Apple Inc. As the debut of the new iPhone 5 just proved, that may not be a bad thing. The taller, thinner and lighter phone prompted a rush on Wall Street to raise price targets for Apple stock, but the optimism was not because of a big technological advance or design breakthrough; the "wow" factor that was the trademark of the late Apple co-founder Jobs was decidedly absent. Rather, it was the speed of the global launch that astounded, validating the new CEO's much-touted wizardry at the essential but unglamorous task of managing a supply chain. "We are positively surprised regarding the pace of the rollout, since we had expected a bigger impact from component constraints," Barclays analyst Ben Reitzes said. By next Friday, the iPhone 5 will be in 31 countries, and will be in 100 by the end of the calendar year. That would be 30 more than the rollout of the predecessor phone, the 4S, over a similar

FIRE DESTROYS TEMPORARY HOMES IN PELIYAGODA

Several temporary homes located on Nuge Road in Peliyagoda were destroyed after a fire erupted last night. Five houses built with wood were engulfed in flames, police said. However, the fire was extinguished with the assistance of the Fire Department and residents in the area. The cause of the fire is yet to be determined while Peliyagoda Police is conducting an investigation. 

China's steel traders expose banks' bad debts

China's banks are coming after the country's steel traders, hauling executives into court to chase down loans that some traders said they didn't initially need and can't now repay. The heavy push to recover the loans is another sign of strain on China's financial system at a time when the country's leaders are contemplating another round of stimulus to boost the economy, and when banks are worried about bad debts piling up. The battle between the banks and steel traders also exposes flaws in the 4 trillion ($629 billion) stimulus round in 2008, and offers a warning to those calling for pumping more money into the system. At that time, Chinese banks threw money at the steel trade - a crucial cog in supplying the country's massive construction and infrastructure growth. But those steel loans, after offering a quick fix, became excessive, poorly managed, or a combination of the two. Government officials insisted more money was needed to prop up the i

SCHOOL GIRL STABBED TO DEATH BY LOVER

A school girl was stabbed to death using a sharp object in Thibbatuwawa, Kekirawa. The police spokesman’s office stated that the perpetrator is suspected to be the victim’s lover. The suspect has then attempted to commit suicide by consuming poison. Reports state that the girl’s mother and the suspect’s mother, who attempted to intervene, were also injured and admitted to the Kekirawa district hospital.