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...this has been going on so long and it's so well organized that the whole thing is state sponsored, I think." When it comes to advancing their military by stealing data, "the Chinese are more aggressive" than anyone else, David Szady, head of the FBI's counterintelligence unit, told TIME earlier this year. "If they can steal it and do it in five years, why [take longer] to develop...
...China is the most obvious case in point. Its oil consumption per unit of GDP was double that of the developed-world average in 2004. China, like many Asian countries, tends to subsidize the price of retail energy products. While that means the blow of higher oil prices is softened for Chinese consumers, a heavy toll is taken on the government's finances. Moreover, about a third of China's total exports go to the U.S. That means one of China's largest and most dynamic sectors is very much a levered play on the staying power of the American...
...Japan consumes. Analysts now worry that the economy is finally beginning to show the strain. "We're particularly concerned that rising energy costs will amplify the existing squeeze on corporate profit margins in China," says Ben Simpfendorfer, an economist at JPMorgan Chase in Hong Kong. Indeed, Shanghai Petrochemical, a unit of the state-owned oil company Sinopec, warned last week that profits in the second half of this year will decline significantly. If other companies feel a similar pinch, as Simpfendorfer fears, that could crimp one of the main drivers of China's current economic boom?spending by companies...
...spare tires on his feet - "they're my clown shoes," he says. In fact, they're his farm boots, which bear the U.S. brand name of Providence. An apt choice, since Neill is the most accidental of actors. It was while directing documentaries for the New Zealand National Film Unit that he was asked by director Gillian Armstrong to audition for My Brilliant Career (perhaps she saw something of landed gent Harry Beecham in Neill, whose family founded one of the New Zealand's largest liquor importers). And it was while filming a TV costume drama in Melbourne...
...previous boss took Nokia from creaky Finnish conglomerate to the world leader in mobile phones; Olli-Pekka Kallasvuo will have to make sure it stays there. As former head of the phone unit and CFO, Kallasvuo, 52, has the operational chops to succeed longtime CEO Jorma Ollila next June. But the landscape is far different from the one Ollila dealt with: cell phones are ubiquitous, sales are slowing, and margins are thinning. Nokia needs more cutting-edge products, as its two closest rivals, Motorola and Samsung, ramp up their attacks. Still, Kallasvuo is a good bet to answer that call...