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HSBC Decides To Exit U.S. Credit Card Business – To Focus On Emerging Markets

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HSBC agreed to sell its U.S. credit-card unit as it tries to focus on emerging markets. Capital One, which recently agreed to buy ING‘s U.S. online bank, will pay a $2.6 billion premium for the acquisition above the value of the unit’s existing consumer-loan balances.

 

The sale continues the pullback from consumer banking by HSBC, which on July 31 agreed to sell almost half its U.S. retail branches, largely in New York. HSBC acquired the credit-card in 2003 when it bought sub-prime lender Household International.

 

HSBC Holdings plc is a global banking and financial services company headquartered in Canary Wharf, London, United Kingdom. As of 2011 it is the world’s second-largest banking and financial services group and second-largest public company according to a composite measure by Forbes magazine. It has many branches in Africa and other emerging and developing markets.

From Homo Sapiens To Homo Nety – Technology Has Disrupted All Aspects Of Living

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We live in an era of unusual disruption of cultures, lives and businesses by technologies. As a little boy, I listened to folklore under the moonlight in my south eastern part of Nigerian village. The elders told the stories of justice, bravery, honor and humanity. There was no cellphone and there was no distraction. Life was under a predictable pattern especially in the evenings when boys and girls will wait in turns to play under the moonlight and receive moral education carefully orchestrated in the stories told by the elders. Every child belongs to the village and parents are nothing but stewards.

As we trekked miles to fetch water and firewood for the family cooking, we enjoyed the songs of the happy birds. We treasured the flowers and the gentle winds out of the thick rainforest of our stream. It was a life of great tranquility and we never had a homicide in the village. By norms and traditions, the fishes in our stream must not be fished. They were preserved and in most cases we played with them.

When it was time for school, we continued on that village tradition of brotherhood. The elders have mapped out lands in the village where people could go and plant fruits so that any villager when hungry could go there and eat. It was forbidden to sell anything from that land because it was designed to be a ‘strategic food reserve’. It worked; I planted an orange tree and my best friend gave the village a coconut tree.

But that was then. Many things have since changed, not just in my village, but around the world. Technology is disrupting all aspects of human existence and our lifestyles have changed. Industries are being demised and new ones are coming up with our lexicons constantly evolving to accommodate new tech-evolutions.

Food has been professionalized and mamas do not need to know how to cook. Technology and globalization have already changed family traditions.

As a boy, I heard of professional typists. These were specially trained pros who could churn out characters on typewriters at amazing speed. There are few of them today. There were shorthand experts; people that could write on special characters in order to capture statements as fast as they are spoken by their employers.

Many of these professions have since gone or are going. Technology is displacing their services. Computers make mastering of typing not a big deal since it does not cost anything to edit and delete when using word processors. Compare that with erasing and changing stencils in a typewriter, you will appreciate the level of innovation that has taken place. A single mistake in page could render the whole document useless; the typist has to start over, especially in quality documents where erasure is not permitted. So the trade was to get people that could type with zero error, and at fast speed.

For those that are shorthand experts, video recorders with translation capability make it unnecessary to be writing when a politician or anyone is talking. Just record and soon print out the transcripts. Those experts are also fading. It is rare to see a journalist job that requires mastering of shorthand as Isaac Pitman invented it.

Have you noticed that the city of London could police the whole city through video cameras when in the old dull days, policemen might have been used? Those traffic policemen we used to see across many African cities are disappearing as most of the cities install traffic light systems. Those jobs or careers are being displayed by technology.

What of language interpreters? I recall a meeting in Kenya where someone was giving a speech in French and the interpreters were interpreting in English, Arabic and Portuguese. It worked out so well. But that career will soon die. If Apple or any of the Smartphone makers develop a good language translator in their gizmos, we may not need the interpreters, at least, in some gatherings.

So, we have got a lot of challenges in career planning these days. Does it make sense to pursue this career considering how technology could change it in the future? How many ticket masters were displaced when airplane ticketing moved online? How can software affect journalism in the future? How is technology affecting parenting since technology is increasingly displacing our attention to our families? Those late night emails and constant trips to the Blackberries at 10pm are all disruptions.

Planning for careers is not just focusing on what happens today or maybe in two years time. You must have a feel of where technology is going and then anticipate and stay ahead in your career. A business model to open physical bookshops may not be a good idea since most people rarely care to know the bookshop around their neighborhood these days. The first point is order from ebay, Amazon or BN. The local bookstore is model already endangered. The same goes with building cinema halls. In the next ten years, we will have virtual cinema halls where movie releases will be done online without the need of going to that physical location.

The interesting thing about this technology disruption on careers is that it does not matter what your level of education is. It could be that your industry is booming but has moved out of your locality. That brings the degree to which your field is outsourced. The easier your job can be automated by technology, the higher is the risk of technology displacement.

So when people discuss about career planning, it is very imperative that you understand how technology and not just wages could play out in the future. If you specialize in a special type of engine design and from all trends, it is evident that that engine is going to be obsolete and you refuse to adapt and be retrained, you could be in trouble. Ask the expert photographers that made fortune washing and developing films in dark rooms. Those that failed to move to digital photography are only in history books.

Our world has been made better by technology because it improves our productivity and standard of living. However, it also carries a major challenge; disrupting careers and moving many jobs to museums. It is very important you stay ahead and see how new technologies could disrupt and displace your job. Never wait, plan ahead and stay above technology innovation with new skills.

We Pay 30% Tax, Warren Buffer Pays 17% – Now, That Is Congressional Engineering

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It seems America is running a regressive or whatever primitive tax system. We never know the rich guys are paying 17% when they take more than 1/4th of our income. But kudos to Warren Buffer, we now know that the more money you make, the lesser tax you have to pay, percentage wise.

 

In an Op-ed article in New York Times, the billionaire investor Warren Buffett, saying he doesn’t want to be “coddled” by Congress, says that wealthier Americans should pay higher taxes, and that higher taxes do not dampen job growth.

 

The philanthropist said that his 2010 federal tax bill, including income and payroll taxes, was $6,938,744.

 

“That sounds like a lot of money,” wrote the Omaha, Neb.-based billionaire. “But what I paid was only 17.4% of my taxable income – and that’s actually a lower percentage than was paid by any of the other 20 people in our office.”

 

He also made comments on the job creation.  He said that 40 million jobs were created between 1980 and 2000, when the tax rate for the rich was higher than it is now. “You know what’s happened since then: lower tax rates and far lower job creation,” he wrote.

Eight Reasons Google Bought Motorola Mobility

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These are eight reasons why Google bought Motorola. It is adapted from a report from IHS iSuppli.

 

 

  • Google wants to play a big role in the emerging ICT consolidation as Tekedia has noted. With this and possibly one telecommunication company like Sprint, Google will transmute into a behemoth.
  • The Motorola Mobility acquisition puts Google Inc. in a stronger position in any potential patent dispute with Apple Inc.
  •  Motorola’s product development capabilities also may have made it an attractive acquisition target for Google. Google previously has used new HTC and Samsung products to demonstrate the latest capabilities of the Android operating system.
  • Motorola can serve as Google’s product R&D department as Android spreads into new markets,
  •  The acquisition could prompt some Android licenses to increase their focus on alternative operating systems, such as Windows Phone.
  •  Motorola ranked sixth in the global smartphone business in the second quarter. The company held a 4 percent share of global unit shipments. Company shipments amounted to 4.4 million, up 7.3 percent from 4.1 million in the first quarter, as shown in the table below.
  •  Since hitting bottom in the first quarter of 2009, Motorola has been experiencing nearly uninterrupted quarterly growth in smartphone shipments.
  •  Motorola once was the world’s No. 2 cellphone maker.
  •  Motorola Inc.’s XOOM media tablet introduced early this year represented the first legitimate match for Apple Inc.’s iPad 3G, in terms of features and pricing.

LG Optimus One Phone Review – “Optimus” Means “Best” In Latin. We Await The Launch.

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The LG Optimus One with Google is the first in a series of Optimus handsets that LG intends to release. Following in the footsteps of the LG Optimus GT540, the Optimus One handset will be launched alongside the Optimus Chic phone.

 

The name “optimus” means “best” in Latin, so LG is clearly planning to deliver an impressive range of smartphones. Design wise, the Optimus One has a look of the HTC Desire, with a large touchscreen twinned with smooth hardware keys beneath it. The premise behind this device, LG says, is user-friendliness so expect a vibrant and logical UI on this handset.

 

 

Being a Google-based device, the LG Optimus One runs on the Android 2.2 platform and comes with an array of features such as Google Maps, Google Talk, Gmail and YouTube. There is also access to the Android Market for browsing further apps and games, and downloading onto the phone – and we expect the memory to have a capacity of 32GB, allowing for plenty of storage space for all your apps and data.

 

 

There are multimedia features onboard the Optimus but the specifics have not been confirmed. There’s sure to be a camera, and a high quality one given the name of the series of phones this One belongs to – although the range will actually include both affordable and high-end devices, as well as handsets based on different operating systems. Music will also feature and we’d be surprised if there is no FM radio thrown in for good measure.

 

 

Rumours are rife about the LG Optimus One with Google, and we’ll bring a full review of this smartphone as soon as we are able to.

 

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