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High tech - Wikipedia, the free encyclopedia
From Wikipedia, the free encyclopedia. High tech refers to "high technology," technology that is at the cutting-edge and the most advanced currently available. The adjective form is hyphenated: high-tech.en.wikipedia.org/wiki/High_technology
High tech refers to "high technology," technology that is at the cutting-edge and the most advanced currently available. The adjective form is hyphenated: high-tech. There is also a style of architecture known as High tech.
There is no specific class of technology which is high-tech - the definition shifts over time, so products hyped as high-tech in the 1960s would now be considered, if not exactly low tech, then at least somewhat primitive. This fuzzy definition has led to marketing departments describing nearly all new products as high-tech.
Chevron 3Q Profit Soars to $5 Billion
Friday October 27, 9:00 am ET
Chevron 3Q Profit Soars to a Record $5 Billion, Exceeding Analysts' Expectations
SAN RAMON, Calif. (AP) -- Chevron Corp.'s third-quarter profit soared to $5 billion to easily surpass analysts' estimates, continuing the prosperous times in the oil industry.
The results, announced early Friday, marked the first time the San Ramon-based company's quarterly earnings have surpassed $5 billion in its 127-year history. It's also the third time in the past year that Chevron's quarterly profit has hit a new high.
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Chevron benefited from higher oil prices and increased profit margins in its refining business.
The earnings of $5.02 billion, or $2.29 per share, for the three-months ended in September represented a 40 percent increase from net income of $3.59 billion, or $1.64 per share, at the same time last year. The results last year would have been higher if damage caused by Hurricane Katrina hadn't forced Chevron to curtail production.
Chevron boosted its earnings despite a slight decline in its revenue, which totaled $54.2 billion. That was down from $54.5 billion last year.
The earnings exceeded the average estimate of $2.03 per share among analysts surveyed by Thomson Financial.
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Housing Market a Drag on Economic Growth - AP - 17 minutes ago
Economic growth slowed to a crawl in the third quarter, advancing at a pace of just 1.6 percent, the worst in more than three years.
Chevron 3Q Profit Soars to $5 Billion - AP - 1 minute ago
Chevron Corp.'s third-quarter profit soared to $5 billion to easily surpass analysts' estimates, continuing the prosperous times in the oil industry.
Cemex to Offer About $11.7B for Rinker - AP - 43 minutes ago
Mexican cement manufacturer Cemex SAB de CV said Friday it will offer about $11.7 billion in cash for Australian heavy building materials maker Rinker Group Ltd.
Sony Laptop Battery Injures User - AP - 1 hour, 18 minutes ago
A Sony-made battery in a Fujitsu laptop overheated and gave off sparks, injuring the user, as a Fujitsu worker was visiting to retrieve the laptop as part of the company's recall of Sony batteries, a Fujitsu spokesman said Friday.
Alltel 3Q Profit Jumps 11 Percent - AP - 1 hour, 0 minutes ago
Wireless carrier Alltel Corp. Friday said its third-quarter profit jumped due to strong customer additions. Net income rose 11 percent to $402.3 million, or $1.04 per share, from $361.1 million, or 98 cents per share, a year ago.
Volkswagen 3Q Profit Falls - AP - 1 hour, 40 minutes ago
Volkswagen AG, Europe's biggest automaker, said Friday that its profit plunged 92 percent in the third quarter because of severance costs and a pensions deal associated with a wide-ranging restructuring.
Avon Products 3Q Profit Plummets 47 Pct. - AP - 1 hour, 2 minutes ago
Avon Products Inc., a direct seller of cosmetics and beauty-related items, said Friday its third-quarter profit declined 47 percent, depressed by higher ad spending, costs for restructuring its inventory and a charge related to a tax dispute resolution in Britain.
Shares in China's ICBC Take Off in IPO - AP - 1 minute ago
With the bang of a gong, China's biggest bank kicked off the world's biggest initial public offering of stock on Friday, a milestone for the country's financial markets.
Oil Prices Slip Below $60 a Barrel - AP - 24 minutes ago
Crude oil futures retreated back under $60 a barrel Friday as traders took profits for a second day after a runup earlier in the week.
India's Bharti Airtel Profit Up 79 Pct. - AP - 8 minutes ago
Bharti Airtel Ltd., India's largest cell-phone carrier, Friday said net profit in the most recent quarter surged 79 percent from a year ago, thanks to robust growth in new subscribers.
http://biz.yahoo.com/top.html
Shares in China's ICBC Take Off in IPO
Friday October 27, 9:00 am ET
By Elaine Kurtenbach, AP Business Writer
Shares in ICBC -- World's Biggest IPO -- Soar in Hong Kong, Disappoint in Shanghai
SHANGHAI, China (AP) -- With the bang of a gong, China's biggest bank kicked off the world's biggest initial public offering of stock on Friday, a milestone for the country's financial markets.
Industrial & Commercial Bank of China's shares surged 14.6 percent in Hong Kong from their IPO price but gained only 5 percent in Shanghai, below analysts' forecasts for at least a 10 percent gain in the opening session.
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ICBC made history by simultaneously conducting its IPO in Shanghai and Hong Kong in parallel listings that enabled both domestic and foreign investors to participate. The key benchmarks in both stock markets fell, contrary to expectations.
ICBC raised a minimum of $19.1 billion, but it was expected to soon increase its offering to $21.9 billion by exercising the so-called greenshoe option to meet extra demand. That beat the previous record $18.4 billion IPO staged by NTT DoCoMo Inc. in 1998.
Investors snapped up the stocks because they viewed Chinese bank IPOs to be good ways to profit off of the nation's roaring economic growth, analysts said.
"They are buying for the China growth story," Francis Lun, general manager, Fulbright Securities Ltd., in Hong Kong. "China's economy is growing by 10 percent a year and ICBC is the largest bank in China. If it grows in tandem with the Chinese economy, I think it should be worth much, much more in the future."
But Lun noted that Chinese banks can be a risky investment because of a history of bad loans and bad management. ICBC received a $15 billion injection from the government to clean up its balance sheet last year.
"If ICBC can clean up its balance sheet, improve its management and if nobody runs away with several hundreds of millions of dollars, that's the most important thing," Lun said.
The timing for the dual IPO couldn't be better for ICBC, with the Hong Kong index near record highs and Shanghai's trading near a five-year peak.
Regulators say they plan to encourage more star companies to list shares on the domestic share markets in Shanghai and Shenzhen.
The stock's price jumped 14.6 percent to HK$3.52 ($0.45) compared to its IPO price of $3.07 ($0.39) per share. Analysts predicted the stock would rise between 10 percent to 15 percent.
But in Shanghai, the so-called "A shares" only gained 5.1 percent from their IPO price to close at 3.28 yuan. They had also been expected to shoot up 10 percent to 15 percent.
Analysts attributed ICBC's lackluster performance in Shanghai to the massive strain on liquidity from the influx of new shares. The Shanghai segment of the bank's IPO raised 46.64 billion yuan ($5.9 billion), a record for a mainland bourse. ICBC issued 14.95 billion Shanghai shares after overallotment, up from 13 billion A-shares originally planned.
Investors also may have become a little gun-shy after shares of state-run Bank of China jumped more than 30 percent on its first day of trading in Shanghai in July. Since then, they have generally declined.
ICBC is China's biggest bank, with 6.45 trillion yuan ($816 billion) in assets. It is the third big state-owned commercial bank to list shares, part of reforms aimed at boosting the industry's competitiveness ahead of an opening of the market to more foreign competition later this year.
All three banks received multibillion-dollar government bailouts after writing off massive amounts of bad debt. They're revamping their operations with the help of foreign strategic investors -- in ICBC's case that includes Goldman Sachs Group Inc., American Express Co. and Germany's Allianz AG.
Yet all three listed banks are still controlled by the state. More than 72.5 percent of ICBC is held in equal shares by the Ministry of Finance and the state's asset management arm, Central SAFE Investments Ltd. The national pension fund holds a 5.4 stake and foreign strategic investors a combined 7.4 percent.
That leaves only about 15 percent of the bank's equity in the form of Hong Kong and Shanghai-traded shares.
Local investors are well aware that ICBC, and other local banks, have a long way to go to match the level of services and products offered by global banks.
"Just go to ICBC to try to withdraw some money and you will understand better why it is hard to be quite optimistic about the ICBC's performance in the stock market," said Peng Yunliang, an analyst at Shanghai Securities.
The IPO is just one step, though a major one, said ICBC President Yang Kaisheng, who kicked off Shanghai trading Friday by banging on a gong and then sipping wine served by women in silk red dresses with other VIPs.
"We will take this public offering as the first step, and continue to strive toward our goal of becoming a first-rate international financial enterprise," Yang said.
Associated Press writers Bill Foreman and Sylvia Hui in Hong Kong contributed to this report.
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this is for company information
#msg-10599755
TO ALL, BBCMF,FRIENDS AND READERS. ONE OF FRIENDS HAS PASSED ON. IF YOU WOULD LIKE TO SAY SOMETHING FOR HER OR ABOUT HER GIVE THIS PALACE A CLOCK TO.
IN MEMORY FOR MARIE az2820
http://www.investorshub.com/boards/board.asp?board_id=2463
me again dubi, just kicking the tires here for with updated ibox today.
NetWorking with Moderator: FinancialAdvisor Assistants: FinancialAdvisorFinancialAdvisor's College Class(FACC)...#board-2767
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Toby Smith Stock Review...#board-4469
Moderator Or An Assistant To These Forums In This Click...#msg-10253185
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I DO AGREE WITH THIS. I THINK IT IS ABOUT THE FORCES SOME IGNORE THAT ARE COMING.
ONE SIN CITY GOT A WARNING HE IS SPEAKING TO US.
We had also something similar in our parts as well.
Seems the weather and its strange phenomena is
hitting the whole world.
Dubi
you are very welcome. nice job helping all of us.
a sand strom this weekend but it blew by yuma and back to noraml
Thanks, Mick,
A glorious day to you.
Regards,
Dubi
hi dubi, good morning. as usual you are on top of good articles. INTC
Re :INTC,
>>Intel's largest R&D center planned in Haifa
Computer chip giant purchases 5 acres for NIS 27 million; center to employ 1,500 employees, in addition to 2,000 people already employed in Haifa >>
(#msg-9898190)
Dubi
it can be but i try to break it up going out with jack.
A Full Time Job, almost...
:)
Dubi
no , it o.k. there are many good ideas in these readings.
100 to go.
Most welcome Mick,
Must be tiring going through all the messages ?
Regards,
Dubi
hi dubi, i'm into the pm's now. thank you for these comments.
Hi Mick,
In apropos to the subject we discussed,
Hurt bad employers where it counts
15.2.06 | 11:10 By Hanna Zohar
Last week the Ministry of Industry and Trade announced an enforcement drive against cleaning and security service companies. It would inspect 100 companies, the ministry said.
These are sectors famous for trampling workers' rights, but the enforcement drive will change nothing.
When the inspectors raid the workplaces and examine pay slips, they will find - especially if they actually talk with the workers - that most are denied overtime or reimbursement of travel expenses. Most of their employers make no pension provisions for the employees, despite the collective employment agreement that requires them to do so. And they get pittances, if anything at all, for vacation, recuperation, and the like. Moreover, in the security sector, the management tends to fine workers for infractions in on-the-spot kangaroo court proceedings.
The Labor Ministry inspectors have no powers against these infractions. All they have power to enforce is the minimum wage, the law requiring disclosure of information to employees about his employment terms and wages, and the law mandating an annual vacation, and that's a recent development, too.
The inspectors won't find many companies breaking the minimum wage law. If they do find any, the companies will be ordered to pay an administrative fine - though in practice, the fines are rarely collected and the Ministry of Industry and Trade refuses to publicize the names of the offending companies, though it should under a court ruling on a petition by Kav LaOved.
Why all the sudden action? First of all, elections are approaching and the party in power has to show it's doing something. Secondly, the latest Poverty Report revealed that 41% of the people falling into the category of poor, work part- or full-time jobs, but most through subcontractors: they work in security, cleaning, nursing care manpower companies and the like.
Raids won't solve the problem of scorn for the labor laws. The only thing that will, is deterrent action that hurts corporate profits, and renders scorn for workers' rights an economically unwise prospect.
It is easy enough to achieve, but the Finance and Industry ministries have not made the effort. They are afraid of hurting the big companies with which they work. The ministries could set terms in tenders for manpower services that would block companies found guilty of labor violations. That would change things immediately. Terms like that would render the spot inspections unnecessary, as the workers would be in the position of power.
A legislative proposal, which imposes the responsibility on the body hiring from the manpower company, was formulated by a group of groups fighting for the enforcement of worker rights. It was raised for its first vote into law by MK Igal Yasinov, but lost because of cabinet opposition.
The bill presented a simple reform that would have been easy to execute. It would have required any body buying service from a manpower company, to ensure that the workers receive their rights under law. Workers whose rights are violated can sue the employer (say, the security company) and the service recipient as well.
Who are these service recipients? Ministries that publish tenders for manpower, or big businesses like banks, major industrial plants and hi-tech companies.
The proposal did not require added budgets for inspectors, or the creation of enforcement bodies. The service recipients would have had to demand that the manpower companies present proof that they comply with labor laws. At present the manpower companies are required to provide guarantee that they will meet tender conditions such as quality of labor and time, but not labor laws.
The bill did not determine employee-employer relations, only that anybody choosing a company for manpower services must assure the workers get their full pay, under law.
http://www.haaretz.com/hasen/pages/ArticleContent.jhtml?itemNo=683241
Dubi
HAPPY VALENTINE'S DAY TO OUR FRIENDS, READERS, MY ASSISTANTS, AND TO ALL THAT WORK HARD FOR SHARING AND CARING FOR EACH OTHER HERE AT THE IHUB.
Precisely.
Dubi
that is great to know. you can't do better if you sit on your tail.
The main problem with these people is that they
are newcomers, do not yet master the language,
therefore even if skilled, they lag behind, as
can perform only menial jobs.
Btw, my father had it the same, (years and years
ago), and when he mastered the language, he got
a much better job.
Dubi
is it hard for the lower wage earner to improve their skills?
Now, before election Mar 29th 2006, all parties
promise they will raise it ...lol... promises,
promises.
Although life is somewhat cheaper here than in the US,
it is indeed pretty hard to get by with our minimum
wages.
Dubi
That is true, lol... in fact one Israeli domestic airline
has the slogan "How time flies when you have fun"
Very true,
Dubi
these pay schedules are pretty good except for minimum wage.
Minimum wages are $ 3.72 per hour, average salary
is about $ 1 K, but off course hi-tec employees
is a much different story, and average $ 7.5 K
and up a month.( they deserve every cent they make).
Dubi
when you are having fun and enjoyment the time goes by very quickly.
Hi Mick,
Short but very fulfilling, thanks.
Regards,
Dubi
i hope you had a wonderful weekend.
now that is a nice bonus. are the salaries low in israel?
INTC
Re: INTC
Intel Israel giving workers 3 months' salary as bonus
13.2.06 | 10:03 By Eynav Ben Yehuda
Intel Israel has a history of sharing its success with workers, and 2005 was no exception. Workers received bonuses equivalent to three months' salary, TheMarker has learned.
The Intel staffers received some of the money last year but most of it in their January and February paychecks.
Intel is diligent about granting bonuses each year, but it's no kneejerk perk. The formula for each employee's bonus is complex, involving to what degree the worker met goals, Intel Israel's own profit and that of its parent company, Intel (Nasdaq:INTC).
While Intel is far from the only hi-tech company rewarding its workers, it is one of the most generous. The average is about one monthly salary.
Intel is also one of the only hi-tech companies that didn't stop giving bonuses during the tech crash from 2001 to 2003: it did scale back the scope, but it continued to share.
Intel Israel is presently in the process of expanding its plant in Kiryat Gat, at a massive investment of $3.5 billion. This is the biggest investment ever made in an Israeli plant. Upon completion, Intel Israel will be hiring more than 2,000 new workers. It already has 6,000 Israelis on its payroll.
Recently the global Intel Corp delivered lower than expected results for the last year, because of weak sales of desktop PCs. It netted $2.5 billion in the last quarter of 2005, or 40 cents per share, an increase of 23% against the parallel quarter and 16% sequentially. But analysts had expected more: earnings of 43 cents per share.
Quarterly revenues were $10.2 billion, an increase of 6% year over year and 2% from the previous quarter. But again the Street was aghast, having expected $10.5 billion sales.
Not that Intel's a slouch. For the year 2005 it achieved record sales of $38.8 billion, and netted $8.7 billion.
http://www.haaretz.com/hasen/spages/682243.html
Dubi
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