September 11Th Global Media Finance Headlines

The following are the headlines of global media in September 11th.

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NOKIA chose Microsoft Elop (Stephen Elop) to replace CEO kapai in order to recover lost territory in the highly competitive smartphone market.

Elop, a Canadian, is currently the head of Microsoft's commercial software department.

This is the first time that NOKIA has chosen a non Finnish as CEO. It also reflects the importance of the US and Canadian companies in the growing mobile phone business.

New York Times:

The US Department of Commerce reported on Friday that US wholesale inventories rose 1.3% in July compared with June, the largest growth rate since July 2008, exceeding three times the 0.4% growth expected by analysts.

This is a sign that many companies are looking forward to having enough consumer demand in the summer, thereby increasing their inventories.

The replenish of inventories has pushed the recovery of the US economy, but analysts say that the slowdown in demand may leave ample inventory for enterprises. It is expected that the inventory will push the economy down in the second half of the year.

USA Today:

President Obama chose his longtime economic adviser, Osten Gulsby, as chairman of the White House Economic Advisory Committee.

Obama is expected to announce the appointment at a news conference on Friday.

Gul J Be, an economics professor at University of Chicago, is a member of the White House Economic Advisory Committee and one of the three economists of the Committee.

His predecessor, Christina Romer, left office last week and returned to University of California at Berkeley to teach.

Guardian:

The outgoing Barclays CEO Varley John declined to accept the invitation of HSBC holdings to take up the post of chairman of the bank, on the grounds that HSBC chairman is frequently handling international affairs and making long trips to.

Barclays bank denied that Valli had received an invitation from HSBC Holdings.

Despite the rejection, HSBC still sees Valli as a possible replacement, but Valli has little chance of being persuaded, and he wants to spend more time with his family.

HSBC Holdings is expected to decide the new chairman within a week.

Daily Telegraph: UK PPI rose 4.7% in August

Data released by the National Statistical Office on Friday showed that the UK producer price index (PPI) grew at a 6 month low in August, weakening the UK's concerns about inflation and predicting that the Bank of England will keep interest rates unchanged.

New PPI data show that British manufacturers are unable to raise their prices.

In August, UK output PPI increased by 4.7% over the same period last year.

In addition, due to the decline in crude oil prices and the increase in the cost of imported spare parts and equipment due to the appreciation of the pound, the UK PPI investment index fell by 0.5% in August.

Financial Times: NOKIA's new CEO faces apple and Google competition

The incoming NOKIA's new CEO Stephen Elop will promise to help NOKIA win the share of NOKIA and Google's market share and bring about the rejuvenation of NOKIA.

Stephen elope will take office at the end of the month. He thinks NOKIA should increase its competition in the US market and other rivals.

The United States is the largest smartphone market in the world.

Stephen elope is the first non Finnish CEO in NOKIA. He acknowledges that the creative center of mobile phone industry has moved to the United States, but he has rich experience in software and effective management.

India times: India government promotes foreign capital inflow

In the wake of the increasing inflow of foreign capital, the India government proposed on Friday that foreign companies could be allowed to introduce new technologies and establish new independent enterprises without the consent of joint venture partners.

The establishment of a new joint venture by foreign companies before January 12, 2005 requires the approval of India partners. The relaxation policy is not applicable to the joint venture established after January 12, 2005.

Japan Times: Japan unveiled $10 billion 800 million economic stimulus plan

The Japanese government announced on Friday that it will introduce a $10 billion 800 million economic stimulus plan to create 200 thousand jobs, encourage consumers and businesses to spend, and deal with the recent rise in the yen and the downside risks of economic growth.

The plan is expected to raise Japan's gross domestic product by 0.3% percentage points after deducting inflation, which has been approved by Japanese Prime Minister Naoto Kan on that day.

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