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North Korea's Latest Ballistic Missile Was A "New Type" With Dramatically Longer Range

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North Korea's Latest Ballistic Missile Was A New Type With Dramatically Longer Range After North Korea provoked both its neighbors and the US when on Sunday morning it fired off yet another ballistic missile from Kusong near the border with China  - one which this time did not explode upon launch  - just days after the election of a new South Korean president who ironically advocates more engagement with Pyongyang, experts said the missile appeared to be a new type of ballistic missile, and had a far greater range than any other weapon North Korea has successfully launched.

According to Japanese Defense Minister Tomomi Inada, the missile rose to a height of about 2,000 kilometers, a much steeper trajectory than usual for a North Korean missile test. She also confirmed that officials were looking into the possibility that it was a "new type of ballistic missile." Japan's cabinet secretary, Yoshihide Suga, said the missile traveled for about 30 minutes and landed 700 kilometers east of the launch site. A spokesman for South Korea’s Joint Chiefs of Staff estimated the distance at 435 miles.

Cited by the WSJ, independent experts said the missile, if fired at a conventional angle, could have flown 2,800 miles—*far enough to reach the U.S. military base in Guam. *

That is a “considerably longer range than its current missiles,” said David Wright, co-director of the Global Security Program at the Union of Concerned Scientists, in an analysis of the launch.

 

As the Journal adds, while North Korea’s Taepodong-2 rocket has flown farther than Sunday’s missile, North Korea classifies it as a satellite launcher that isn’t designed to deliver a warhead back to earth. It is, however, banned by United Nations sanctions because similar technology could be used to make an intercontinental ballistic missile.

North Korea’s previous most recent launch from Kusong took place in February, during a summit meeting between Mr. Trump and Japanese Prime Minister Shinzo Abe. The February launch also featured a new type of missile for North Korea, one that uses a solid fuel-powered engine. The test involved an intermediate-range ballistic missile that was modified from a missile that North Korea launched from a submarine last year. It was later paraded through the streets of Pyongyang in April for a national holiday.



The missile that North Korea fired Sunday flew further than the previous one launched from Kusong, and its high trajectory—which missile experts said appeared to be a record for the isolated nation—seemed designed to ensure that it didn’t land in Japan’s territory



Whatever the missile's model, however, the response among the international community was prompt. Moon Jae-in, South Korea’s newly elected president, convened an emergency meeting of the National Security Council hours after Sunday’s launch, according to a spokesman for the presidential Blue House in Seoul.



During the meeting, Mr. Moon condemned the missile launch as “a grave violation of U.N. Security Council resolutions” and expressed frustration at the North for testing a missile just days after Mr. Moon had said in his inaugural address that he would do whatever it takes to establish peace on the Korean Peninsula, according to the spokesman.

 

Mr. Moon called North Korea’s missile test a “reckless provocation” and promised a decisive response, although he also kept open the possibility of dialogue, calling for “a change in attitude” by Pyongyang, the spokesman said.



Cited by the WSJ, Lee Seong-hyon, a research fellow at the Sejong Institute in Seoul, said it was common for North Korea to test a new leader in South Korea, adding that it gave Mr. Moon a chance to burnish his national-security credentials and commitment to Seoul’s traditional alliance with Washington. “Pyongyang gave an opportunity for Seoul and Washington to publicly affirm their alliance,” said Mr. Lee. “For Moon, by declaring today that there won’t be any ‘unconditional dialogue’ with North Korea, he brushed aside some skepticism that he may be ‘soft’ on North Korea.”

A spokesman for the Blue House in Seoul said Lt. Gen. H.R. McMaster, the White House’s national-security adviser, had a 25-minute phone call with his South Korean counterpart, Kim Kwan-jin, after the missile test. Both sides condemned the launch and reaffirmed their commitment to working toward a denuclearized North Korea.

As we noted last night, the launch launch also came just as China's President Xi convened a gathering of world leaders, including Russian President Vladimir Putin, in Beijing to kick off a high-profile "One Belt One Road" infrastructure plan that reflects China’s ambitions for influence across Central Asia and into Europe. China’s Foreign Ministry on Sunday noted Security Council resolutions that limit North Korea’s ballistic-missile launches and urged all parties to “exercise restraint and do nothing to further worsen regional tensions.”

Meanwhile in the US, the White House said Mr. Trump had been briefed on the launch. The official statement contained an odd reference to Russia, which in recent weeks the media has suggested could be using its relationship with North Korea as leverage for diplomatic purposes.

“With the missile impacting so close to Russian soil—in fact, closer to Russia than Japan—the President cannot imagine that Russia is pleased,” the White House said in a statement.



US calls for "far stronger sanctions"against N. Korea after missile test. US & S.Korea consider it a"provocation".China calls for"restraint" pic.twitter.com/NOTwoaz2wK

— Bricio Segovia (@briciosegovia) May 14, 2017



Russia, however, did not express nearly as much concern about the latest launch. The Russian Defense Ministry said that Russian missile defense systems tracked the missile test,  adding that it landed some 500 kilometers from Russia and hadn’t posed a threat. It also said that Russia’s ballistic missile launch early warning system detected the launch form North Korea at about 08:30 GMT on Saturday, the ministry said.

“The ballistic target had been tracked in flight by the SPRN for 23 minutes before it fell into the central part of the Sea of Japan, some 500 km from the territory of Russia,” the ministry statement said. It added the missile’s trajectory had been away from Russia at a considerable distance from its border.

“The missile launch didn’t pose any threat to the Russian Federation. Russian early warning radar and air defense forces are on regular duty now,” the ministry said.

In a separate comment posted on Russia's Interfax wire service, Maj. Gen. Vladimir Bogatyryov, a military expert who worked in the Defense Ministry's central apparatus, said the missile launches carried out by North Korea are testament primarily to its desire to ensure its own national security in the face of the military threat emanating from the United States and its partners in the region. "Today's missile launch carried out by North Korea is yet another attestation of the DPRK [Democratic People's Republic of Korea] trying in every possible way to exercise its right to defend its national interests," Bogatyryov told Interfax-AVN on Sunday.

In an unexpected pivot, the Russian then added that "it is time for Washington and its allies, and the global community to look at the problem of security on the Korean peninsula from a different perspective, by taking into account not only their own interests, but Pyongyang's concerns as well, the expert said.



"Constant threats to solve the problem militarily, encroachments on the DPRK's sovereignty, the large-scale joint drills held by the U.S. with Japan and South Korea near North Korea's border, are forcing Pyongyang to keep its gunpowder dry, by maintaining combat readiness at the highest level, including by regularly 'snarling' missile launches," Bogatyryov said.

 

He sees it as no security threat to Russia.



Which begs the question: is the apparent softening of Russia's position toward North Korea, an attempt to gain leverage with the Kim regime, and if so what does the Kremlin gain from it, especially since even Beijing had voiced a vocal condemnation of Pyongyang recent provocations and followed through with coal import and oil sanctions. While still a low probability, the potential emergence of a Russia-NKorea axis could lead to a potential complication for US plans to deter the Kim regime by all means possible, including a potential "decapitation" strike as has been proposed in recent weeks. Reported by Zero Hedge 6 hours ago.

Scandal At China's Grand Silk Road Summit As India Skips, Warns Of "Unsustainable Debt"

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Scandal At China's Grand Silk Road Summit As India Skips, Warns Of Unsustainable Debt It was supposed to be China's day of celebrating massive infrastructure spending for the sake of spending (read ghost towns, only now outside China's borders) as Xi Jinping pledged $124 billion on Sunday for his new Silk Road plan to forge "a path of peace, inclusiveness and free trade" while calling for the abandonment of old models based on rivalry and diplomatic power games. However, it did not go quite as smoothly as expected.

A celebration years in the making, Xi hosted dozens of world leaders - including a piano-playing Vladimir Putin - on Sunday for the country's biggest diplomatic showcase of the year, touting his vision of a new "Silk Road" that opens trade routes across the globe. Xi used the summit to "bolster China's global leadership ambitions" as U.S. President Donald Trump promotes "America First" and questions existing global free trade deals.



After scoring 2 hat tricks in Sochi, Putin returns to Moscow where he places 1st in annual Van Cliburn competition pic.twitter.com/FQMs0PZ1W0

— Don Draper (@DonDraperClone) May 14, 2017



In total, leaders from 29 countries attended the forum, including some of China's close allies and partners such as Russian President Vladimir Putin, Cambodian Prime Minister Hun Sen, Kazakh President Nursultan Nazarbayev, Turkey's quasi-dictator Tayyip Erdogan, as well as the heads of the United Nations, and the CapEx leeches from the IMF and World Bank.

"We should build an open platform of cooperation and uphold and grow an open world economy," China's president Xi told the opening of the two-day gathering in Beijing.

Over the past four years, China touted what it formally calls the "One Belt, One Road" initiative as a new way to boost globalization and global development, aiming to expand links between Asia, Africa, Europe and beyond underpinned by billions of dollars in infrastructure investment. In other words, another way to boost China's GDP only this time diluted among more Asian nations, who just have to take China's word that it will ultimately be for their benefit.

Xi also said the world must create conditions that promote open development and encourage the building of systems of "fair, reasonable and transparent global trade and investment rules". China's president also pledged an anchor funding boost to the new Silk Road, including an extra 100 billion yuan ($14.50 billion) into the existing Silk Road Fund, 380 billion yuan in loans from two policy banks and 60 billion yuan in aid to developing countries and international bodies in countries along the new trade routes, according to Reuters. Some however, were concerned that this was nothing more than just Chinese grandstanding: Xi did not give a time frame for the new loans, aid and funding pledged on Sunday.

* * *

Alas, the meticulously scripted plan to showcase China's growing economic and trade dominance did not go off quite as smoothly as Xi had planned.

*First, just hours before the summit opened, North Korea launched its latest ballistic missile, provoking Beijing and further testing the patience of China, its chief ally*. Ironically, the United States had complained to China on Friday over the inclusion of a North Korean delegation at the event.

*Then, in a sign that China's rampant, credit-fuelled growth is making some just a little uncomfortable, some Western diplomats expressed unease about both the summit and the plan as a whole, seeing it as an attempt to promote Chinese influence globally according to Reuters. They are also concerned about transparency and access for foreign firms to the scheme.*

Australian Trade Minister Steven Ciobo said Canberra was receptive to exploring commercial opportunities China's new Silk Road presented, *but any decisions would remain incumbent on national interest. *Responding to criticism, Xi said that  *"*China is willing to share its development experience with all countries" and added "we will not interfere in other countries' internal affairs. We will not export our system of society and development model, and even more will not impose our views on others."

*But the biggest surprise was India, the world's fastest growing nation and the second most populous in the world, which did not even bother to send an official delegation to Beijing and instead criticised China's global initiative, warning of an "unsustainable debt burden" for countries involved*.

Indian foreign ministry spokesman Gopal Baglay, asked whether New Delhi was participating in the summit, said "*India could not accept a project that compromised its sovereignty*."

India is incensed that one of the key Belt and Road projects passes through Kashmir and Pakistan. The nuclear-armed rivals have fought two of their three wars over the disputed region, Reuters notes. "No country can accept a project that ignores its core concerns on sovereignty and territorial integrity," Baglay said.

Furthermore, he also warned of the danger of debt. *One of the criticisms of the Silk Road plan is that host countries may struggle to pay back loans for huge infrastructure projects being carried out and funded by Chinese companies and banks.* "Connectivity initiatives must follow principles of financial responsibility to avoid projects that would create unsustainable debt burden for communities," Baglay said.

As well as the corridor through Pakistan, India is worried more broadly about China's economic and diplomatic expansion through Asia, and in particular across countries and waterways that it considers to be its sphere of influence.

As China proceeds to flex its economic and geopolitical muscles further in the coming years, we expect many more such similar antagonisms between China and India in the near future.

Finally, in what may be perhaps the best summary of the regional sentiment - and antagonism - over the Silk Road, is this fictional postcard, written by Chris Andrew over at Clarmond. Reported by Zero Hedge 6 hours ago.

Italy rescues migrants as calls mount to secure southern Libya

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ROME (Reuters) - Rescuers saved 484 migrants from boats in the Mediterranean on Saturday and found the bodies of seven men who had died in the attempt to get to Europe, Italy's coastguard said. Reported by Reuters 6 hours ago.

New stadium needed to take Tottenham to 'last level in Europe,' says Mauricio Pochettino after United win

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Tottenham confirmed their second placed finish with their highest ever points total this afternoon by beating Manchester United in their last game at the Lane Reported by Independent 5 hours ago.

Podcast: Danny Kelly's Trans Europe Express - Sunday, May 14

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Reported by talkSPORT 1 hour ago.

Stents sold in Europe for less than Indian prices

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A look at the prices of stent brands in these countries shows that people in India have been defrauded of crores of rupees over years in the absence of any price control or law. Before price control, patients in India paid among the highest prices for stents globally even higher than in the US. In the US, the price of a drug eluting stent (DES) ranges from Rs 62,000 ($950) to Rs 78,000 ($1,200). Reported by IndiaTimes 4 hours ago.

Arsenal boss Arsene Wenger sends dig at Chelsea: Europe will derail their season

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Arsenal boss Arsene Wenger sends dig at Chelsea: Europe will derail their season ARSENE WENGER has warned top dogs Chelsea they won’t have it so easy next time around. Reported by Daily Star 3 hours ago.

China's President Pledged $124 Billion For A New Silk Road

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China's President Pledged $124 Billion For A New Silk Road Watch VideoChinese President Xi Jinping has promised to spend billions of dollars on a 21st century Silk Road.

The Silk Road was a network of trade routes in ancient China. The One Belt, One Road initiative would revive regular trade routes between China, Europe and the rest of the world.

Representatives from 29 countries attended a forum for the initiative in Beijing. That number is less than half the total number of countries China has projected will be involved with the project.

With populist and nationalist sentiments taking root in the U.S., Britain and other Western countries, Xi has presented himself as the defender of globalism.

*SEE MORE: The US Might Export Beef To China For The First Time In 13 Years*

Xi has pledged $124 billion to the project fund; that money includes loans, foreign aid and cash.

If his plan comes to fruition, the new Silk Road will connect 60 percent of the world's population and 30 percent of the globe's GDP.  Reported by Newsy 3 hours ago.

List of Cyberattack Victims Grows to More Than 200,000

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More than 200,000 victims in at least 150 countries were hit by the cyber pandemic that tore through computer systems across the globe in recent days, the head of Europe’s police agency said. Reported by Wall Street Journal 3 hours ago.

Arsenal news: Wenger says missing Europe helped Chelsea

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Arsenal news: Wenger says missing Europe helped Chelsea Arsene Wenger has warned Antonio Conte next season will be a ‘different story’ for Chelsea with the addition of Champions League football. Reported by MailOnline 3 hours ago.

Pochettino predicts Spurs glory after White Hart Lane farewell

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Pochettino predicts Spurs glory after White Hart Lane farewell Tottenham boss Mauricio Pochettino predicted their move to a new stadium will prove the platform for the club to conquer previously unscaled heights after a nostalgia-fuelled farewell to White Hart Lane ended in style.

England striker Harry Kane was the match-winner as the curtain came down on Tottenham’s 118-year stay at the Lane, doubling the Spurs lead following Victor Wanyama’s early header.

Skipper Wayne Rooney struck inside the final 20 minutes to hint at United gatecrashing the party although a comeback was not forthcoming.

A record-equalling 14th successive league win at home ensured Spurs, who guaranteed themselves second place in the Premier League, navigated the season unbeaten on their own turf – a feat last achieved during the 1964-65 campaign.Tottenham fans invaded the pitch after the full-time whistle (Source: Getty)

The plan is for Tottenham to play their home games at Wembley next season before moving into their new 61,000-seater stadium for the 2018-19 campaign.

“We believe that when the doors open at the new stadium it will help the club to reach the last level,” said Pochettino.

“That is our expectation and idea. With the training ground, the new facilities and the new stadium will put the team and the club in the last level in Europe. The people know the club need this push. I think we are on a great journey.”

Following a pitch invasion and a valedictory post-match ceremony celebrating former players and past times at White Hart Lane, Pochettino promised a renewed title charge next season.

“We are really sad and disappointed because Chelsea, at the end, they won the Premier League,” added Pochettino. “But nothing to regret. Very, very happy with the performance of the players.

“And only for now, to say to our fans, to say to everyone that we will try next season to give our best and fight again to try and win the league.”

Tottenham needed just six minutes to stoke the exultant mood as Wanyama rose to power a whipped centre from left wing-back Ben Davies beyond United’s helpless goalkeeper David de Gea.Victor Wanyama, right, opened the scoring for Spurs (Source: Getty)

Aside from Anthony Martial curling narrowly wide, Spurs were omnipotent in the first half with Son Heung-min storming through the United defence only to be denied by De Gea and Kane striking the crossbar with a close-range header.

A back-pedalling De Gea then clawed away a deflected Christian Eriksen cross and tipped over a fierce Dele Alli drive, while on the stroke of half-time Kane became the latest to be thwarted.

With stars of yesteryear waiting in the wings it was Kane, the spearhead of the modern-day vintage, who cleverly flicked home a wicked Eriksen free-kick moments into the second period – the 23-year-old’s maiden goal against United.

The visitors retaliated on 71 minutes when a driving Martial picked out Rooney, who poked beyond Spurs goalkeeper Hugo Lloris, although it was insufficient to prevent a second loss in north London within a week.

Defeat extinguished any lingering hope United had of finishing in the top four, although manager Jose Mourinho insisted other clubs would look with envy should they qualify for the Champions League by winning this month’s Europa League final.

He said: “For us, it is more important to win titles than to finish in the top four. Probably other clubs finishing in the top four would like to be in our position.”

  Reported by City A.M. 3 hours ago.

Mastercard wants to speed up chip-and-pin transactions with new tech in card readers

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Mastercard wants to speed up chip-and-pin transactions with new tech in card readers On Friday, Mastercard announced that it is partnering with payment processing companies Verifone and Global Payments to help speed up chip-and-pin transactions at stores by incorporating its M/Chip Fast technology into checkout terminals.

While chip-and-pin cards are widely used in Europe, American consumers and retailers has been slow to accept them. Retailers were supposed to implement chip readers two years ago, but still lag behind on deploying and activating terminals for customers to use. The transaction can also take several long seconds to complete, which can seem like an eternity when you have a line forming behind you.

"Companies have been trying to shave seconds off of the transactions"

Thus, companies have been focusing on... Reported by The Verge 3 hours ago.

BMW 1 Series And 2 Series Updated In Europe

Global study on CEO trends indicates a significant uptick in CEOs forced out of office for ethical lapses: PwC's Strategy&

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LONDON, May 14, 2017 (GLOBE NEWSWIRE) -- The share of CEOs forced out of office for ethical lapses has been on the rise, according to the  2016 CEO Success study  released today by  Strategy&,  PwC's strategy consulting business. The study, which analyzed CEO successions at the world's largest 2,500 public companies over the past 10 years, reports that forced turnovers due to ethical lapses rose from 3.9 percent of all successions in 2007-11 to 5.3 percent in 2012-16 - a 36 percent increase, due in large part to increased public scrutiny and accountability of executives.

The increase was more dramatic at companies in the U.S. and Canada. Forced turnovers for ethical lapses at these companies increased from 1.6 percent of all successions in 2007-11 to 3.3 percent in 2012-16 - a 102 percent increase. In Western Europe, the share of CEOs forced out for ethical lapses increased to 5.9 percent from 4.2 percent, and in the BRIC countries, to 8.8 percent from 3.6 percent.

"Our data cannot show - and perhaps no data could - whether there's more wrongdoing at large corporations today than in the past. However, we doubt that's the case, based on our own experience working with hundreds of companies over many years," says  Per-Ola Karlsson , partner and leader of Strategy&'s organization and leadership practice for PwC Middle East. "Over the last 15 years, five trends have resulted in boards of directors, investors, governments, customers, and the media holding CEOs to a far higher level of accountability for ethical lapses than in the past."

*The Five Trends Shaping CEO Accountability*

· *Public opinion* : Since the financial crisis of 2007-08 and the Great Recession that it ignited, confidence and trust in large corporations and CEOs has been declining; the public has become more suspicious, more critical, and less forgiving of corporate misbehavior. 
 
· *Governance and regulation* : The rise of public criticism of executives and corporations has translated directly into regulatory and legislative action, and companies in the U.S. and many other countries have moved to a zero-tolerance approach toward bad behavior in the C-suite.
 
· *Business operating environment* : Companies increasingly are (1) pursuing growth in emerging markets where ethical risks, such as the possibility of bribery and corruption, are heightened, and (2) relying on extended global supply chains that increase counterparty risks.
 
· *Digital communications* : The use of email, text messaging, and social media has created new risks for ethical lapses. A company's digital communications can provide irrefutable evidence of misconduct, and their existence increases the likelihood that a CEO will be held accountable.
 
· *The 24/7 news cycle* : Unlike in the mid- to late 20th century, when most executives and companies could maintain a low public profile, today the lightning-fast flow of Web-based financial news and data ensures that negative information travels quickly and widely.

Despite the global increase in forced turnovers for ethical lapses, companies in the U.S. and Canada have the lowest incidence of such dismissals - 3.3 percent in 2012-16 compared to 5.9 percent in Western Europe and 8.8 percent in the BRIC countries. More stringent governance regulation is one likely reason. Both the legislative requirements for codes of conduct and anti-bribery statutes have been tightened significantly in the United States.

*Bigger Company, Bigger Target*

The study also found that at the largest companies (those in the top quartile by market capitalization) in the U.S. and Canada and Western Europe, the overall share of CEOs forced out of office was significantly greater than the share forced out in the other market-cap quartiles.

"The fact that forced turnovers for ethical lapses were even higher at companies in the top quartile by market capitalization in these regions supports our hypothesis, since the largest companies are the most affected by the five trends and are subject to the greatest scrutiny," says  Kristin Rivera , partner and global forensics clients and markets leader with PwC US.

"The increasing incidence of CEOs being forced out of office for ethical lapses may have a positive effect on public opinion over time by demonstrating that bad behavior is in fact being detected and punished," says  DeAnne Aguirre , global leader of Strategy&'s Katzenbach Center of Innovation for Culture and Leadership, principal with PwC US. "In the meantime, CEOs need to lead by example on a personal and organizational level and strive to build and maintain a true culture of integrity."

*More Facts from the 2016 CEO Success study*

· *CEO turnover:*  CEO turnover at the world's largest 2,500 companies decreased from its record high of 16.6 percent in 2015 to 14.9 percent in 2016, due largely to the drop in merger and acquisition activity. CEO turnover was highest in Brazil, Russia, and India, at 17.2 percent, followed by Japan (15.5 percent) and Western Europe (15.3 percent) and China (15.2 percent). CEO turnover fell in every region we studied except for the U.S. and Canada.
 
· *Women CEOs: * There were 12 women globally appointed to the role of CEOs in 2016 - 3.6 percent of the incoming class. This marks a return of the slow trend toward greater diversity that had been in place over the last several years, and a recovery from the previous year's low point of 2.8 percent. The share of incoming female CEOs was highest in the U.S. and Canada, rebounding to 5.7 percent after falling for the previous three years. Five industries - healthcare, industrials, information technology, consumer staples, and telecom services - did not have a single incoming female CEO in 2016.

*About the 2016 CEO Success Study*
Over the course of the past 17 years, Strategy& has been tracking continuous data on CEO successions. The 2016 study analyzed CEO successions at the world's 2,500 largest (by market capitalization) public companies over the last 10 years. For the purposes of this study, we define an ethical lapse as a scandal or improper conduct by the CEO or other employees; examples include fraud, bribery, insider trading, environmental disasters, inflated resumes, and sexual indiscretions.

*Ends *
To learn more about the 2016 CEO Success study, visit  www.strategyand.pwc.com/ceosuccess . A copy of the global study, including findings by geography and industry, is available from the media contact. Multimedia content, including infographics and video, is also available.

*About Strategy&*
Strategy& is a global team of practical strategists committed to helping you seize essential advantage. We do that by working alongside you to solve your toughest problems and helping you capture your greatest opportunities. We bring 100 years of strategy consulting experience and the unrivaled industry and functional capabilities of the PwC network to the task. We are part of the PwC network of firms in 157 countries, with more than 223,000 people committed to delivering quality in assurance, tax, and advisory services.

*Notes*

1. For more information, visit  www.strategyand.pwc.com/ceosuccess .
2. © 2017 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see  www.pwc.com/structure  for further details.

Contact:
Kiran Chauhan
Global Public Relations
Strategy&, part of the PwC network
T: +1 416 890 8695
kiran.chauhan@pwc.com
--------------------This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: PWC Network via GlobeNewswire

HUG#2104496 Reported by GlobeNewswire 2 hours ago.

Scotland to Russia

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Scotland to Russia Photographing men and boys on a journey from Europe to Asia. Reported by BBC News 1 hour ago.

In pictures: The long road from Scotland to Russia

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In pictures: The long road from Scotland to Russia Photographing men and boys on a journey from Europe to Asia. Reported by BBC News 31 minutes ago.

Will One Belt, One Road Meeting End Up As Damp Squib? – OpEd

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In yet another attempt to establish itself as the dominating world force, China is organizing the One Belt One Road Forum meeting in Beijing on May 14-15.

The OBOR project involves a land route running from inner China to southern Europe via The Netherlands. It also involves a sea route connecting Shanghai port with the end point of the land based route in Venice via India and Africa.

The project would involve an expenditure of about 5 trillion US dollar and the assets planned include ports, roads, airports, infra for IT , telecom etc. The project is supposed to connect 65 countries and half of the world population of 4.4 billion and 30% of the global economy. Implementation of the project could take around 40 years.

OBOR is a very ambitious project and even can be termed as unrealistic project. China knows this too well as well as several other countries who would participate in the meeting.

*Is OBOR all about trade ?:*

What is particularly significant for China about OBOR project is that 16 of China’s 27 provinces are covered in the vision.

Apart from providing huge economic and trade opportunities for China, the OBOR project will enable China to become the nerve centre of the world economic and business activities which will inevitably lead to it’s political dominance of the world.

China claims that OBOR is all about trade and it has no political objective.

However, this view will have no takers.

*Why Other Countries Participating?*

Obviously, several countries including United States and Western countries are participating in the OBOR forum more as a matter of curiosity rather than any hope or faith in the ultimate objective of the forum.

Apart from curiosity, another reason that several countries in the world are participating in the meeting is to explore the trade opportunities that they can exploit in China. They want to ensure that they would not be left out and at the present time, they lose nothing by attending the meeting.

*Is Not UN More Appropriate Forum For OBOR Project?*

The main point of concern for several countries in the world is that this OBOR concept has been initiated by China and not by a neutral or world body like United Nations.

The proceedings of this forum cannot be viewed in the same manner, as one would view the recent Paris climate conference where United Nations took the initiative . Even this well meaning Paris climate conference does not have a smooth way forward , as the Trump administration in US is now objecting to decisions of the Paris climate conference, which threatens to derail the plans and objectives. Will the China initiated OBOR project have better prospects?

*Concerns about China*

The world knows that the present government in China is highly ambitious and self-centred and wants to dominate the world both economically and politically. Certainly ,China would desire that OBOR project should move on in the way that it wants and with China being the most important part of it with most significant role for it.

China’s expansionist policies have already caused huge concern to the neighbouring countries, which are watching China’s actions with considerable anxiety. Countries like Japan and South Korea have military differences with China. Vietnam , Philippines and other countries have disputes with China over the South China Sea. India has serious objection to the fact that the Belt and Road plan violates India’s sovereignty, as it passes through the disputed Pakistan occupied Kashmir. China ‘s economic corridor project now being implemented by it in Pakistan is being viewed by India with great anxiety due to the military implications .

Even while attending the forum meeting, the underlying fact that China has been occupying the Tibet forcibly and is ruthlessly suppressing the local people cannot be ignored by the countries attending it. In the case of Tibet, China has ignored the world opinion and give an impression that it believes that force will always triumph.

The question upper most that would be in the mind of the attending countries is whether China would become more transparent about it’s plans and whether it would follow internationally accepted standards on environment, labour and trade and political relationships in future.

All said and done, Chinese government is a dictatorial one with one party ruling the country with no permission for any other party to even exist. Personal liberty for the Chinese citizens remains a big question mark in China. The ruling clique in the Communist party has also differences and power struggle amongst the politburo members is not unknown. Therefore, stability of leadership in China may also be a matter of speculation.

*What would satisfy China now?*

The world today is full of conflicts , with every country acting on it’s own interests without world view. Is the world going to become so different in the next forty years to become conflict free , which would be a pre-condition for the One Belt One Road project mooted by China to succeed?

In short, the OBOR meeting in Beijing would be used as an opportunity by China to make it clear to the world that it is already a leader or would be a leader very soon among the world countries. China will be satisfied with the proceedings of the meeting if this objective would be achieved, while other countries attending the conference will leave Beijing wondering as to what they have achieved. Reported by Eurasia Review 1 hour ago.

Soccer-Tottenham's move can take them to last level, says Pochettino

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Tottenham Hotspur's move to a new stadium can push them to join Europe's biggest clubs, manager Mauricio Pochettino said on Sunday as his side bade farewell to White Hart Lane with a 2-1 victory over Manchester United. Reported by DNA 27 minutes ago.

Messer Continues to Invest in Hunan, China

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SHANGHAI, May 15, 2017 /PRNewswire/ -- The industrial gas specialist Messer today signed an agreement with Changsha Hi Tech Zone in Southern China's Hunan province to set up a new 520 ton-per-day liquid air separation unit in the zone, just beside its existing filling station which will be put into service in the third quarter of the year. The new facility, involving an investment of 250 million RMB, will begin to supply oxygen, nitrogen, argon, and other gas products to the industries in the zone as well as the surrounding areas in the early 2019.

As a pioneer in Hunan industrial gas market, Messer has already invested in nine air separation units in the area with a total capacity of over 200 thousand normal cubic meters per hour. This makes Messer become the largest supplier in the market. "The decision to invest in a new production facility in Changsha further demonstrates Messer's commitment to its growth strategy and development opportunities in Hunan and affirms our leadership stance and ability to meet rising customer needs in the area," said Dr. Werner Hickel, CEO of Messer China.

*About Messer *

The Messer Group, which was established in 1898, is the largest privately managed specialist in industrial, medical and special gases. Under the brand "Messer -- Gases for Life", the company is active in 30 countries in Europe and Asia, as well as in Peru and Algeria, with a total of more than 60 operating companies.

Messer started investing in China in the middle of 1990s and so far has 25 companies located in Shanghai, Jiangsu, Zhejiang, Hunan, Guangdong, Fujian, Sichuan, Chongqing and Yunnan provinces with a total investment of $1.1 billion. Headquartered in Shanghai, Messer China has nearly 2,000 employees. The steady and successful developments have allowed Messer to join the ranks of the major foreign industrial gas providers in China. From acetylene to xenon, the Messer Group has one of the most diverse product portfolios on the market -- it produces industrial gases such as oxygen, nitrogen, argon, carbon dioxide, hydrogen, helium, shielding gases for welding, specialty gases, medical gases and many different gas mixtures.

For more details about Messer, please visit: http://www.messergroup.cn or http://www.messergroup.com Reported by PR Newswire Asia 58 minutes ago.

Volvo XC20 set to rival Audi Q2

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The XC20 would use a shorter version of the XC40's chassis

Volvo already has the platform for a small premium SUV and is close to launching a suitable range of three-cylinder engines

A Volvo XC20 small crossover is on the cards to fit beneath the upcoming XC40 and rival cars such as the Audi Q2.

Volvo’s head of R&D, Henrik Green, said: “It’s not a problem to have an XC20,” given that the car maker has both the platform hardware and the engines to suit a model pitched against the Q2.

“The CMA platform can be made smaller,” said Green of the new Compact Modular Architecture small car platform that the company is codeveloping with Geely for the XC40, the next-generation V40 and sister brand Lynk&Co.

*Volvo XC40 - clearest pics of BMW X1 rival show Concept 40.1 influence*

Speaking at a preview event for the new XC60 SUV in Sweden last week, Green said that although the hatchback C-segment in which the V40 competes continues to be the largest in Europe, the boom in the sales of SUVs and crossovers looks like continuing and is being closely watched by the manufacturer.

Sales of small SUVs are expected to exceed two million by 2018, according to forecaster LMC Automotive, having reached 1.4 million sales last year.

Most of these models are from mainstream volume manufacturers such as Nissan,  Peugeot, Renault, and Suzuki. Audi’s recently launched Q2 is the only premium model in the segment, potentially indicating a major opportunity for Volvo.

*2017 Volvo XC60 - first passenger ride*

Green said it’s “much easier to reduce the CMA platform’s length than it is its width”. Length is the more critical dimension in terms of the car being perceived as a small SUV, and the additional width probably won’t matter from a styling perspective. However, the extra weight and aerodynamic frontal area could slightly compromise the car’s performance and economy.

Besides having a broadly suitable platform, Volvo also has an appropriate range of powertrains. Its new 1.5-litre three-cylinder turbocharged version of the Drive-E four-cylinder engine is “almost ready”, said Green.

“It can go in any vehicle in the range (including the XC90), so it’s a marketing decision on which models to fit it to,” he said. The engine is reported to be capable of producing well over 150bhp in its most powerful form.

*2017 Volvo XC60 costs from £37,205*

As well as offering petrol and diesel versions of the three-cylinder engine, Volvo is developing additional electrified drivetrains.

“We’re looking at broad solutions that are affordable,” said Green. Volvo’s aim is to put these technologies within reach of more buyers than is presently the case with the plug-in hybrid models Volvo offers today.

These and a growing range of SUVs should enable Volvo to get closer to the 800,000 annual sales that it’s targeting for 2020.

Last year it sold 534,000 cars worldwide, a rise of 6.2%. The sales momentum is likely to be maintained with the replacement of its biggest-selling XC60 this autumn and the XC40’s arrival next year. Reported by Autocar 1 hour ago.
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