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[#KOREA 4.0] Ep.11 – The future of Korea's Fourth Industrial Revolution

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The future of Korea’s Fourth Industrial Revolution
‘한국형 4차 산업혁명’을 말하다.

The Fourth Industrial Revolution has become a global topic. Like Germany’s ‘Industry 4.0′ and Made in China 2025, many countries are gearing themselves for the Fourth Industrial Revolution, in alliance with their countries’ environment and characteristics. South Korea is focusing on new technology and has come up with the strategy for the people-centered Fourth Industrial Revolution. Until now, South Korea’s economic paradigm has strived for quantitative growth but changes are a must in line with the people-centered Fourth Industrial Revolution. On this week’s #Korea 4.0, we meet with Ryu Woong-hwan, the Executive Vice President of the Social Value Innovation Center at SK Telecom who has mapped out Moon Jae-in administration’s Fourth Industrial Revolution agenda. We talk about the definition and the importance of the people-centered Fourth Industrial Revolution. In addition, we take a look at the examples set by SK Telecom so that conglomerates which have led the Korean economy, can fulfill the Fourth Industrial Revolution.

전 세계적 화두인 4차 산업 혁명! 독일의 ‘인더스트리4.0’, 중국의 ‘제조2025’등 세계 각국은 자국의 환경과 특성에 맞춰서 4차 산업혁명에 대응하고 있다. 한국은 신기술에 집중하면서 ‘사람’ 중심의 4차 산업혁명을 내세우고 있는데.. 지금까지 양적 성장을 추구해온 경제 패러다임 역시, 사람 중심의 4차 산업혁명 시대에 맞춰 변화가 필요한 상황! [#KOREA 4.0]에서는 문재인 정부의 4차산업 혁명 아젠다를 설계한 유웅환 SKT SV이노베이션센터장과 함께, 사람 중심의 4차산업 혁명 정의와 중요성에 대해 짚어본다. 또, 4차 산업혁명 실현을 위해 한국 경제를 이끌어왔던 대기업들이 나가야 할 방향을 SKT 사례를 통해 살펴본다.

#The_Fourth_Industrial_Revolution #SKTelecom #4차산업혁명

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Stock market news: December 5, 2019

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Stocks ended a choppy session higher Thursday as investors considered mixed commentary around U.S.-China trade prospects.

Here’s where markets settled Thursday at the end of regular trading:

  • S&P 500 (^GSPC): +0.15%, or 4.68 points

  • Dow (^DJI): +0.1%, or 28.01 points

  • Nasdaq (^IXIC): +0.05%, or 4.03 points

  • 10-year Treasury yield (^TNX): +2.1 bps to 1.802%

  • Gold (GC=F): +0.07% to $1,481.20 per ounce

On Thursday, President Donald Trump said trade negotiations with China were “moving along well,” according to Bloomberg. This compounded with positive remarks on Wednesday, when Trump told reporters from a NATO meeting in London that discussions were “going very well” with China, according to Reuters.

Beijing, for its part, corroborated the more upbeat sentiment, with Chinese Ministry of Commerce spokesman Gao Feng saying at a regular weekly briefing Thursday that Chinese negotiators remained in “close contact” with their U.S. counterparts. Gao reiterated, however, that a phase one trade deal should include some reduction in tariffs, according to Bloomberg.

Negotiators have 10 days before additional tariffs on about $156 billion worth of Chinese goods are set to take effect, as previously announced by the Trump administration. Earlier this week, Commerce Secretary Wilbur Ross suggested the administration would go ahead with these further levies in absence of an agreement with Beijing by Dec. 15.

Separately, oil prices added to Wednesday’s gains as members of OPEC and allied nations (OPEC+) met to discuss their plans for output next year. Members of the cartel, who are set to meet in Vienna, Austria on Thursday and Friday, are expected to agree to deeper production cuts for next year from their current level of reduction of 1.2 million barrels per day, which expires at the end of March. Thursday morning, Bloomberg reported that the Joint Ministerial Monitoring Committee of OPEC was recommending a reduction of 500,000 barrels per day.

The oil minister of Iraq had said earlier this week that he and other nations would support a cut to production for next year of around 400,000 barrels a day. Brent crude oil prices, the global benchmark, rose to more than $63 a barrel, while domestic crude was unchanged at $58.43 a barrel from Wednesday at settlement.

Over the past two years, OPEC+ has steadily pared back output in order to offset rising production in non-allied nations like Brazil, Norway, and the U.S., where shale oil output has boomed.

[Click here to read Stock Market Live Updates]

Trader Jonathan Corpina works with children during a traditional bring-your-kids-to-work day on the floor at the New York Stock Exchange (NYSE) in New York, U.S., November 29, 2019. REUTERS/Brendan McDermid

EARNINGS: Tiffany sales sink in home market, Slack tops expectations

Slack (WORK), the newly public workplace messaging software company, delivered stronger than expected third-quarter results. However, its outlook for billings – which reflects its software sales to new customers, renewals and added sales from existing customers – disappointed the Street.

The company’s third-quarter loss per share was 2 cents on revenue of $168.7 million, better than the 16 cent loss per share on revenue of $156.2 million expected, according to Bloomberg data. Slack ended the quarter with more than 105,000 customers, up by 30% over last year.

For the full year, Slack expects to see billings of between $745 million and $760 million, with the midpoint of this range coming below the $754.3 million expected. But Slack also raised full-year sales guidance to as much as $623 million, up by $13 million on the high end of its previous range. It expects an adjusted loss per share in the fourth quarter of as much as 7 cents, in-line with expectations.

Tiffany (TIF) posted disappointing third-quarter results as North American sales weakened further for the jeweler. The company recently announced it was set to be acquired by French luxury retail giant LVMH (MC.PA).

Third-quarter earnings per share were 65 cents on net sales of $1.01 billion, below the 85 cents a share on sales of $1.03 billion expected. Comparable same-store sales in the Americas sank 4% during the quarter, or worse than the decline of just 0.9% expected. Tiffany attributed this mostly to lower spending by foreign tourists, as well as some softness in local customer spending.

Asia remained a strong geographic segment for the company, however, with Asia Pacific comp sales rising 1%, and sales in Japan jumping 14%, versus a 3.8% gain expected. Comp sales in Europe also unexpectedly rose 4%, where a decline of 0.7% was expected.

Dollar General (DG) raised its full-year earnings guidance and posted accelerating sales growth and shrugged off some of the tariff concerns that plagued peer discount retailer Dollar Tree in its most recent quarter.

Dollar General’s net sales totaled $6.99 billion, rising 9% over last year and beating expectations for $6.92 billion. Third-quarter earnings per share were $1.42, or 4 cents above expectations. The company raised its full-year adjusted earnings guidance to as much as $6.65 a share, versus a previous outlook for as much as $6.60 a share.

ECONOMY: Jobless claims unexpectedly decline to lowest level since April

New unemployment claims fell by 10,000 to 203,000 for the week ended November 30, the Department of Labor said Thursday, in a strong final report on the U.S. labor market ahead of the “official” monthly November jobs report Friday.

Thursday’s print marked the lowest number of new jobless claims since mid-April. Consensus economist had expected initial jobless claims to rise to 215,000 for the week, according to Bloomberg data.

Continuing unemployment claims, however, rose more than expected to 1.693 million for the week ended November 23. Consensus economist had expected this to come in at 1.66 million, from an upwardly revised 1.642 million the week prior.

The U.S. trade deficit shrank to the narrowest level since May 2018 in October as trade with China slumped further, the Commerce Department said Thursday. The overall trade deficit came in at $47.2 billion for the month, versus the $48.5 billion expected. September’s trade deficit was revised slightly to $51.1 billion from $51.5 billion reported previously.

October’s decline in the deficit was driven by a 1.7% drop in imports, eclipsing a slight 0.2% decline in exports. Consumer goods imports were the main contributor to the drop, and merchandise imports from China fell 4.8% over the previous month to $35.3 billion. Exports to China sank 17%. The overall U.S. trade deficit with China declined to a seven-month low of $27.8 billion, seasonally adjusted.

Splitting up has been the predominant trend of the past 10 years.

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck

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South African Airways undergoing a ‘business rescue’

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South African Airways, the country’s beleaguered flag carrier, has entered into a new phase of government rescue.

The airline has received a new government-backed cash infusion of 2 billion rand (about $137 million) from its existing lenders, the latest in a series of government bailouts the struggling company has received in recent years.

The South African treasury matched that loan as part of the government’s business rescue plan for the airline.

Pravin Gordhan, South Africa’s public enterprises minister, announced the plan in a statement Friday.

“Our desire is that the restructured airline will mark the beginning of a new era in South African aviation,” the statement read in part. “It is also important that the reliance on government finances be reduced as soon as possible to minimize disruption to SAA services, customers, staff and other stakeholders.”

Under the plan, a “business rescue practitioner” will take control of the airline and help restructure the company, attempting to stabilize its operations and finances. South African expects to continue flying normally as it restructures.

“This set of actions should provide confidence to customers of SAA to continue to use the airline because there will not be any unplanned stoppages of flights or cancellation of flights without proper notice should that be necessary,” Gordhan’s statement said.

According to Gordhan’s, the company will try to retain as many jobs as possible as the business is reconfigured.

Despite the airline’s financial difficulties, the carrier seems confident in its financial position and has planned to add up to four Airbus A350s to its fleet. Some are already flying on long-haul routes, including to the U.S. The planes represent a significant upgrade to the airline’s onboard product over the old A340s they are replacing.

Featured photo by STEPHANE DE SAKUTIN/AFP/Getty Images.

Zach Wichter
covers the aviation industry for TPG. He previously worked for The New York Times.





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Three Reasons Why Small Businesses Fail I Negosyo Tips I Jon Orana

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In this video, I talked about the 3 reasons why small businesses fail (and what you can do about it). Number 1 is what is likely experienced by many of us Filipinos.

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