Alexander Nix, the former CEO of Cambridge Analytica. Reuters Former Cambridge Analytica CEO Alexander Nix allegedly withdrew more than $8 million from the British data firm before its collapse last month. The Financial Times, citing sources, reported that Nix took the cash shortly after media reports of Cambridge Analytica's involvement in the Facebook data scandal. He is now in dispute with investors over returning the money, which was reportedly intended to help get successor data firm, Emerdata, off the ground. Nix told British lawmakers on Wednesday that the allegation in the FT article was "false." The Financial Times reported on Wednesday that Alexander Nix is in dispute with investors after he allegedly walked away with the cash, while Cambridge Analytica staff and investors salvaged little or nothing from the company's closure. Specifically, the FT said, the dispute is with the investors in Emerdata, a potential successor company set up by the power players at … [Read more...] about Cambridge Analytica’s CEO allegedly took $8 million from the firm before its closure
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VN garment sector to boost export growth The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, Japan, China, and the Republic of Korea, as well as Australia, New Zealand, and India, and joined the World Trade Organisation. However, global demand for textiles … [Read more...] about BUSINESS IN BRIEF 6/6
By Agnieszka Flak and Pamela Barbaglia MILAN/LONDON (Reuters) – Fiat Chrysler (FCA) <FCHA.MI> boss Sergio Marchionne is expected to outline new plans for electric and hybrid cars in a strategy presentation on Friday, aiming to ensure the world’s seventh-largest carmaker remains in the race in the absence of a merger. The 65-year-old will present FCA’s strategy to 2022, his final contribution to the company he turned around and multiplied in value through 14 years of canny dealmaking. After failing to secure a tie-up he said was necessary to manage the costs of producing cleaner vehicles, Marchionne needs to show the group can keep churning out profits on its own, even as emissions rules tighten, SUV competition intensifies and worries around his succession abound. Marchionne had long refused to jump on the electrification bandwagon, saying he would only do so if selling battery-powered cars could be done at a profit. He even urged customers not to buy … [Read more...] about Fiat Chrysler investors want electric road map in CEO’s swan song
This article is available to Members of The Local. Read more Membership Exclusives here. New English words enter Swedish dictionaries every year, and that's only the tip of the iceberg: words become part of everyday speech long before linguists have the chance to document and define them. Over the past decade, there has been a surge in the number of Swedish schools teaching in English, and many hiring managers in Sweden's booming tech industry prioritize English language skills over Swedish. Swedes are so used to switching between the two that they'll often change how they pronounce their own names depending on whether they're introducing themselves to an English or Swedish speaker, so a David will elongate the 'a' and soften the 'd' sound for Anglophone acquaintances. Swedish has incorporated elements of English (and other languages) since the 1200s, and America's enormous political, economic, and cultural power after the Second World War … [Read more...] about Is Anglicization a threat to the Swedish language?
Vietnam-Cambodia joint committee on border affairs meets in Hanoi The Prime Ministers of Vietnam and Cambodia witness the signing of a mintues of the meeting of the Vietnam-Cambodia Joint Committee on Land Border Demarcation and Marker Planting in Hanoi A meeting of the Vietnam-Cambodia Joint Committee on Land Border Demarcation and Marker Planting took place in Hanoi from March 29-31. The Vietnamese side was led by Le Hoai Trung, Deputy Minister and Chairman of the National Boundary Commission under the Foreign Ministry, while the Cambodian side was headed by Var Kim Hong, Senior Minister in charge of border affairs. At the meeting, the two sides affirmed highest determination and efforts to complete 84 percent of the border demarcation and marker planting and legalise the accomplishment. In this spirit, the two sides reviewed the implementation of the work over the past time and agreed to put forth orientations, plans and roadmap, measures to carry out the work in the … [Read more...] about Government News In Brief