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MICROWAVE OVEN In 1946 Percy Spencer, a Raytheon Corp. self-taught engineer studying radars, tested a vacuum tube called a magnetron, and something unusual happened: a candy bar in his pocket melted. The intrigued scientist placed popcorn kernels near the tube and then an egg, watching in amazement as the kernels popped and the yolk splattered. Spencer realized that exposure to low-density microwave energy could cook food quickly, and he created the first commercial microwave a year later. Smaller models followed, revolutionizing a certain kind of cooking...
...Singapore government and other investors bought a controlling stake in Thailand's Shin Corp. from the family of Thai Prime Minister Thaksin Shinawatra. The $1.87 billion deal has sparked big protests...
...What is Shin Corp.? It's a conglomerate that owns Thailand's biggest mobile-phone operator and Internet provider. Thaksin ran it until he became Prime Minister in 2001, when he transferred his stake to family members and household employees to comply with a ban on cabinet ministers owning shares in firms deemed to be in the "national interest," like telecoms...
Those stocks include energy company Royal Dutch Shell, oil field services firm Schlumberger Ltd., Russian oil company AO Tatneft, and oil firm China Petroleum and Chemical Corp., or Sinopec...
...Hong Kong and Britain. Since 1998, however, the bank has completed more than 50 acquisitions, the biggest coming in the U.S., where HSBC previously had only a minor presence in the form of Marine Midland Bank, which it bought in the '80s. In 1999 HSBC acquired Republic New York Corp. for $9.7 billion. In 2003, in a move that signaled HSBC's determination to shift into higher-margin consumer businesses, HSBC paid $14.4 billion for Household International, a provider of car loans and credit cards to less affluent Americans. Bobby Mehta, CEO of HSBC in North America, believes there...