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Sunday, December 27, 2009

Schumacher Returns to Formula One With Mercedes GP

Schumacher Returns to Formula One With Mercedes GP

Michael Schumacher, left, and John Owen, principal aerodynamicist for Mercedes GP Petronas, with a model of the 2009 car in the team's wind tunnel. Schumacher, a seven-time world champion, is returning to Formula One after a three-year absence. 
Michael Schumacher, left, has signed on with Mercedes GP Petronas after a three-year absence from Formula One.

Michael Schumacher is back. The seven-time world champion who had retired from Formula One at the end of the 2006 season has signed on to race for Mercedes GP Petronas, the reigning constructors' champion.

The team made the announcement on Wednesday. The deal had been widely anticipated for weeks, ever since Mercedes bought a 75 percent stake in the team from Brawn GP in November. Mercedes was determined to replace the two existing drivers, Jenson Button, the new world champion, and Rubens Barrichello. Button left to join McLaren, and Barrichello signed with Williams.

"Mercedes-Benz supports the idea of signing an experienced and capable German driver," said Norbert Haug, the vice president of Mercedes-Benz Motorsport, at the time. "There is, however, no reason to finalize the driver situation too hastily."

Mercedes quickly signed Nico Rosberg to fill one of the seats, and then hesitated on naming a second driver. Haug promised a surprise, which quickly started the rumor mill spinning.

There was romance in the notion of a Schumacher comeback. He came close to returning to the grid in 2009 after the Ferrari driver Felipe Massa was injured at the Hungarian Grand Prix. But Schumacher's attempt was thwarted because his neck had not recovered from a motorcycle injury. Schumacher had also once raced with Mercedes sports car program before his career in Formula One.

The signing reunites Schumacher with Ross Brawn, the team principal of Mercedes GP Petronas. Brawn has played a big part in Schumacher's past successes. He was the technical director for Benetton when Schumacher won his first two drivers' titles. And then the two moved to Ferrari, where they proceeded to win five more championships.

"Mercedes GP Petronas represents a new challenge for me both in a sporting and a personal context," Schumacher said in a statement. "It is a new chapter in my racing career and I am really looking forward to working with my old friend Ross Brawn and my companions from my days with the Mercedes Junior Program."

Schumacher will be 41 when he arrives at the season opener in Australia. One of the greatest drivers in racing history, he has 248 grand prix starts and 91 wins, 154 podiums and 68 pole positions.

"It is fantastic that Michael is returning to Formula One and will be my teammate at Mercedes GP Petronas," Rosberg said. "It's a great challenge for me to be up against one of the best drivers of all time. I'm sure that we will form a very strong partnership as he will have lost none of his speed! It is also great news for our sport and the fans."

Update | 11:02 a.m.

Brad Spurgeon, who covers Formula One for The Times, has weighed in his thoughts on Schumacher's prospects for 2010.

"Even if Schumacher has moved to the winning team of last year, I think his age and the very nature of the current period of Formula One, where the technology is much closer between cars than it was only a few years ago, will make it a much more competitive affair," Spurgeon wrote, comparing Schumacher's comeback with his dominating years at Ferrari. "The one thing it will be, and of that I'm sure, is extremely interesting to watch how Schumacher performs after three years' retirement and at the age of 41 — and with drivers like Lewis Hamilton and Schumacher's own teammate, Nico Rosberg, hungry to get a chance to show him up."

READ MORE - Schumacher Returns to Formula One With Mercedes GP

Monday, December 21, 2009

Malaysia's Petronas joins Mercedes GP team

Malaysia's Petronas joins Mercedes GP team

Malaysia's state energy firm Petronas said Monday it had struck a five-year deal with automaker Mercedes to become a title sponsor of the Mercedes GP team in Formula One.

Malaysia's Petronas joins Mercedes GP team

 
Malaysia's state energy firm Petronas said Monday it had struck a five-year deal with automaker Mercedes to become a title sponsor of the Mercedes GP team in Formula One.

"The team will from 2010 be officially known as the Mercedes GP Petronas Formula One Team," Petronas said in a statement.

The team was known as Brawn GP, winner of the 2009 Formula One drivers' and constructors' championship, until Mercedes, its engine supplier, acquired a majority stake in a deal last month.

"The partnership also allows related business arrangements with Mercedes that will support Petronas' international business expansion efforts, particularly in its global lubricant business," the Petronas statement added.

Petronas did not disclose the amount of the deal, but said the move would enhance Malaysia and Petronas's "ongoing global brand positioning efforts."

Petronas -- Malaysia's biggest company in terms of profit, assets and revenue -- is also the title sponsor of the Petronas Malaysian F1 Grand Prix.

Apart from Petronas, Malaysia's budget carrier AirAsia group chief executive Tony Fernandes is the new Malaysian-backed Lotus team principal, one of the four new teams that will compete in the 2010 Formula One season.

Their involvement in F1 come as the sport battles the global financial downturn, which has forced major players like Germany's BMW and Japan's Honda to pull out.

READ MORE - Malaysia's Petronas joins Mercedes GP team

Monday, December 14, 2009

Google to produce, sell own "Nexus One" phones: report

Google to produce, sell own "Nexus One" phones: report
 
An employee answers phone calls at the switchboard of the Google office in Zurich August 18, 2009. REUTERS/Christian Hartmann

LOS ANGELES (Reuters) - Google Inc plans to sell its own cellphone direct to consumers as soon as next year, bypassing wireless operators in a rare strategic move, the Wall Street Journal cited sources as saying on Saturday.

Called the Nexus One and made by smartphone maker HTC, the phone will run on the search giant's Android operating system -- around which Motorola and other cellphone makers have built devices -- and will be sold online, the newspaper cited persons familiar with the matter as saying.

Cellular service will have to be bought separately, it added.

The Internet search leader may be sounding a challenge to wireless carriers such as Sprint and Verizon, as well as smartphone makers like Apple. It marks a departure for the leader in Web advertising, which has rarely sold devices directly to consumers, the newspaper said.

Google's Android phones have won attention in the mobile industry lately, with Motorola and Sony Ericsson choosing to launch it with their new top models.

Analysts say the aim is to gain access to valuable consumer data that can be used to sell ads at premium prices, rather than to make money from direct hardware sales, as companies such as Nokia or Research in Motion do.

Research house IDC estimates the market share for Android operating software rose to 5.4 percent from 4.2 percent in July-September in Western Europe, a key market.

Executives at HTC, the Taiwan-based world's No. 4 smartphone brand, were not available for comment. Google was also not available for comment. Google began sharing a version of the Nexus One with employees in recent days, the newspaper cited its sources as saying.

(Reporting by Edwin Chan; editing by Todd Eastham)

READ MORE - Google to produce, sell own "Nexus One" phones: report

Monday, December 7, 2009

EBay and Craigslist square off in Delaware court

Main Image

GEORGETOWN, Delaware/SAN FRANCISCO (Reuters) - EBay Inc's former chief executive, Meg Whitman, took the witness stand on Monday to make the case online classifieds site Craigslist unfairly cut eBay's stake in the company.

EBay sued Craigslist in 2008 for lowering its ownership stake to 24.85 percent from 28.4 percent, causing the e-commerce giant to lose its seat on Craigslist's board.

Craigslist sued eBay a month later in San Francisco, saying the larger rival used its board seat to glean information to launch its own classified site, Kijiji, and employed deceptive tactics to direct traffic away from Craigslist's site.

Whitman, who is running for governor of California and took the stand on Monday, denied eBay was out to steal Craigslist's secrets. She said eBay had bought shares of Craigslist from disgruntled shareholder Philip Knowlton in 2004 in the hope of ultimately owning the company outright and keeping competitors at bay.

"We were very interested in making an acquisition of Craigslist and we would have loved to have bought the whole thing," Whitman said, testifying in front of about 20 people in a small courtroom in Delaware, where eBay is incorporated. "But we understood early on that was not going to be possible, at least early on."

Whitman said eBay paid $32 million for its stake in Craigslist -- $16 million to Knowlton and $8 million each to Craigslist co-founder Craig Newmark and CEO Jim Buckmaster in exchange for special rights that included an ability to block the issuance of new shares.

EBay sought to have a "collaborative" relationship with Newmark and Buckmaster -- and be a "good partner," she added.

"We knew there was no path to control unless they sold us the shares," Whitman said.

EBay first sued Craigslist in Delaware in April 2008 -- claiming that Newmark and Buckmaster hatched a "coercive plan" to dilute eBay's stake and strip it of its board seat -- but Craigslist a month later filed a lawsuit over the same issues in San Francisco.

Craigslist said eBay never revealed it was developing Kijiji, which it launched internationally in 2005 and in the United States in 2007.

COMPETING CLASSIFIEDS

Whitman, appearing calm and confident, said eBay had an ambitious vision for an international classifieds business. She said she did not initially reveal a plan to buy Dutch classifieds site Marktplaats to Craigslist because the deal had not yet closed.

Under cross-examination, Whitman said she was aware eBay would have to give up some of the special rights it had purchased from Buckmaster and Newmark, however, when eBay launched a U.S. version of Kijiji that included job listings.

Also on the stand was eBay founder Pierre Omidyar, who temporarily sat on Craigslist's board. He testified that eBay fully disclosed to Craigslist that it intended to launch a classified business in the United States.

"I did disclose that eBay was going to do classified aggressively and going to launch Kijiji," he said.

"My recollection at that time was that I was to communicate the urgency and anyone sitting across the table from someone who says eBay is committed and is going to aggressively pursue these opportunities would understand that," he added.

EBay, one of the high-flyers in the dot-com boom, pioneered online auctions and spurred millions of people around the world to sell and buy on the Web.

Despite generating $8.5 billion of revenue in 2008 and employing thousands of people, the San Jose-based company has been forced to broaden its market to better compete and expand beyond its traditional online auctions.

In contrast, privately held Craigslist, with only a few dozen employees, is now the top U.S. online classifieds site, beloved for its mostly free service to help people find homes, adopt pets or sell junk from their garages.

The trial, which could last about a week, is being broadcast over Courtroom View Network.

The case is eBay Domestic Holdings Inc v Newmark, et al, Delaware Chancery Court, No. 3705-CC.

(Additional reporting by Phil Wahba in New York; editing by Tim Dobbyn and Andre Grenon)

READ MORE - EBay and Craigslist square off in Delaware court

Monday, November 30, 2009

News Pro for BlackBerry & iPhone

News Pro for BlackBerry & iPhone

Our mobile applications provide you with access professional-grade news and market data wherever and whenever you want it. Applications features include:

  • Extensive world, business and market news
  • Global financial data
  • Corporate information
  • Personalized stock tab
  • The latest sports, science, health, technology and entertainment news
  • Fast on or offline access to the latest breaking news
  • Full story articles and photos optimized for easy reading on your mobile device
  • And much more
Installing News Pro for iPhone:
  • Open the Safari web browser on your device and visit reuters.com/iphone this will open the iTunes page that hosts the News Pro application
  • Tap the blue "FREE" button near the top of the page. This will cause it to become a green INSTALL button. Tap the green INSTALL button to begin installation of News Pro
  • While News Pro is a free-of-charge application, you may be asked for your iTunes store password when you request installation. Once you've entered your password, the application will begin downloading to your device
Application is available on iPhone or iPod Touch devices.
Installing News Pro for BlackBerry:
  • Enter http://reuters.com/bb on your BlackBerry web browser
  • Click on "Download" or "Download BES version" depending on whether you have a personal or corporate Blackberry.

After installation:

  • If asked, allow HTTP connections for the application
  • Click "Run" to access the Reader or click "Ok" to run later
  • The Thomson Reuters icon will be found in the "Applications", "Download" or "Games" menu

Application is available on BlackBerry devices with operating systems of 4.0 and greater, and on older models that have been upgraded to OS 4.0. The application is free to consumers, although standard data charges from your carrier may apply.

BlackBerry Download FAQs

Which version of News Pro for BlackBerry should I install – Normal or BES? The Normal version is for individuals on a personal mobile plan, while the corporate version is for users with a BlackBerry Enterprise Server (BES) – a corporate-issued BlackBerry
  • All users on Nextel (USA) and Telecom Italia Mobile (Italy) will install the BES version
If you connect using one method – even if it doesn't work – the application is flagged so that it won't be able to connect using the other method. If you have downloaded the wrong version for your device, you can simply uninstall that version and install the correct version

Tip:
Make sure to un-install the non-working version of the application before you install the other version. To un-install, go to Tools -> Settings -> Applications, select "Thomson Reuters News Pro" and then "Delete."

Why do I get a "406 error" on the installation page? Your company may have BlackBerry® Enterprise Server (BES) installed that restricts installation of third party applications.
READ MORE - News Pro for BlackBerry & iPhone

Sunday, November 29, 2009

After Hours: Hong Kong

In the evening, it's easy to find relief from the city's madness

For the millions of screen slavers emerging from a long day in a cubicle, or business travelers seeking to put an endless string of meetings behind them, Hong Kong makes an evening of recovery surprisingly easy.

Aqua Restaurant Group

The Aqua Luna

To start with, if you're looking to let off some steam with a little physical activity, it's a great town for walking. Not in the skyscraper forest, where the unwary pedestrian among the apparently randomly scurrying crowds feels like a human mahjong tile during intergame shuffle, but as little as five minutes out of the central business district by taxi. That's all it takes to reach the start of the Morning Trail, a well-paved, well-lit path that takes you 2.8 kilometers up Victoria Peak.

It illustrates one of the greatest things about this city: How easy it is to get away from all that is "city." Thanks to the government's tight land-supply policy, the metropolis doesn't sprawl but instead grows taller and tighter -- meaning green areas stay green, large and nearby.

On the trail, you'll be enmeshed within minutes by plants and trees and all sorts of natural things that are foreign to the world of shimmering skyscrapers just departed. You'll even pass a waterfall. In less than an hour you'll reach the top and a momentary interruption to the natural serenity: two shopping centers. This is still Hong Kong, after all.

The Peak Tower -- which is also where the Peak Tram ends (note, for the lazy) -- offers a platform at the top for a fee, but across the street the Peak Galleria offers pretty much the same view for free. You can dine there, too. Just stop in at Il Bel Paese, an Italian deli, and pick up some fresh lasagna and a bottle of Chianti before heading to the rooftop.

On an unpolluted night, the view extends to both sides of Hong Kong Island and across the harbor to Kowloon and the New Territories beyond. From here, you can really appreciate exactly how much of Hong Kong's hills are still green and undeveloped.

Another place to exercise away the day's frustrations is a short ride away from work on the MTR (Hong Kong's metro). Open until 11 p.m., the City Golf Club driving range, on the water and right across the street from the Kowloon station, offers 180 bays on multiple levels -- ample opportunity to practice your swing or visualize your boss's head on a tee. (Not yours, of course, boss!) You're close enough to the towers of Kowloon that you feel you might bounce a shot off one. (To feel like Superman, take advantage of the laws of physics and tee off from the top bay.) Afterward pop out front to Thai Mary's restaurant for a beer and curry.

Another of Hong Kong's relaxing resources, ranking with the green hills, is its famous harbor. And while the continual reclamation projects seem to foreshadow a day when Hong Kong Harbour becomes Hong Kong Stream, for the time being there's still plenty of water around to be enjoyed.

The Details

Morning Trail

Starts at the top of Hatton Road

Il Bel Paese

Shop 17-18, Level 1, The Peak Galleria, 118 Peak Rd.

Open until 8 p.m.

Tel: 852-2849-2834

www.ilbelpaese.com.hk

City Golf Club/Thai Mary restaurant

8 Wui Cheung Rd., Jordan, Kowloon

Open until 11 p.m.

Bays, about US$8 an hour; club rental, about $1.30

Tel: 852-2992-3333 (club)

Tel: 852-2199-7392 (restaurant)

www.citygolfclub.com

Jubilee (squid fishing)

Tsim Sha Tsui Pier, Kowloon

Trip lasts from 7 p.m. until 11 p.m.

About US$14 to $22

(includes equipment; price depends on the date and whether food is provided)

Tel: 852-2530-0530

www.jubilee.com.hk

Aqua Luna

Harbor cruise from Tsim Sha Tsui Pier, Kowloon, or Pier 9, Central

About US$23 a person; one standard beverage included

Tel: 852-2116-8821

www.aqua.com.hk

Hutong

1 Peking Rd., Tsim Sha Tsui, Kowloon

Dinner: 6 p.m. to late

Tel: 852-3428-8342

www.aqua.com.hk

Cafe Gray Deluxe

Level 49, The Upper House, Pacific Place, 88 Queensway, Central

Dinner: 6:30 p.m. to 10:30 p.m.

Drinks: 11 a.m. to 1 a.m.

Tel: 852-3968-1106

www.cafegrayhk.com

Yu Club

13/F Luk Yu Building, 24-26 Stanley St., Central

Monday-Thursday, 5 p.m. to 2 a.m.; Friday and Saturday, 5 p.m. to late; closed Sunday

Tel: 852-2868-1833

Wooloomooloo Steakhouse (Wanchai)

31F & rooftop, The Hennessy, 256 Hennessy Rd., Wanchai

11:45 a.m. to late; rooftop opens at 6 p.m.

Tel: 852-2893-6960

www.wooloo-mooloo.com

If you want an experience that may be unique to Hong Kong, consider a squid-fishing tour. (Despite its name, the quarry is actually that squid cousin the cuttlefish; according to one local, the reason for the slight misnaming is that in Cantonese, "frying cuttlefish" is slang for being fired.) From late spring to early autumn, the waters off the New Territories teem with these boats, easy to pick out by the cuttlefish-attracting floodlights off the side and the eruptions of "Waaaaah!" when someone makes a catch.

As a sport, it's not exactly marlin fishing. Your weaponry consists of standard fishing line and a jig. It takes no bait, and next to no effort; just bob your wrist up and down and wait. The boat crew cooks up the bounty for consumption on the spot, but you don't have to be in it for the eating. (There is usually also an unremarkable Chinese buffet.) The shiny cuttlefish, with the pigmentation that changes right before your eyes, are fascinating to look at, and entirely in keeping with the Hong Kong obsession with the sparkly. Or, speaking of sparkly, you can just sit back and enjoy the multicolored lights of Hong Kong as they shimmer on the water.

But there are days when even the idea of laboring to catch food -- or of physical exertion for fun -- seems, quite frankly, unnecessary. We live in the modern age, after all, so let's not ignore the accomplishments of those who came before us. Instead, let us enthusiastically embrace today's world in all its effortless splendor.

So how about a boat ride that doesn't take you out to catch some sea creature, but just carries you on a 45-minute cruise around the harbor and then drops you off a five-minute walk from a restaurant where they bring the food right to you? And what if your table were 28 floors up, with those same city lights spread before you? Catch the Aqua Luna, an almost-traditional Chinese junk (the vibrant red sails are for show; it's powered by an engine). Get aboard the 7:30 sailing from Central and you'll also catch the "Symphony of Lights," a nightly spectacle of flashing buildings and rooftop lasers set to music.

The restaurant is on the Kowloon side: Hutong, meticulously designed from floor to ceiling to teacup to resemble an old, but very posh and dramatically lit hutong (one of the rapidly disappearing alleyways that wind through the ancient neighborhoods of Beijing). The crispy deboned lamb ribs are diet-unfriendly but completely worth it.

Or forget about boats, stay on the Hong Kong side and just head for Café Gray Deluxe. Situated at the top of the newly opened Upper House hotel, this swanky escape is the world of slick, luxury-magazine photo spreads come to life.

For a first plate, the green salad of foie gras and lentils is an adventure in texture and temperature, though if what you seek after a long day is warmth and comfort, the saffron pasta fiore is the way to go. For your second plate, skip the much-touted braised short rib of beef (unfortunately overpowered by a one-note sauce reminiscent of store-brand barbecue sauce), and instead go for the delicately flavored lavender grilled snapper and mashed potatoes.

And tonight's not the night to pass on dessert. You deserve a treat -- and the chocolate rum toast with rum raisin ice cream is magnificent.

For a more relaxed but equally trendy venue, there's the Yu Club. Decorated in glamorous retro Hong Kong style, it's intimate -- room for just 50 chic lounge lizards on its eclectic mix of plush couches, leather ottomans and brightly patterned daybeds. Like many establishments in Hong Kong, the club is technically members-only but membership is easy: Simply call ahead and ask for it (even from outside the door).

General manager and chief bartender Jeff Cheng makes a great cocktail, especially for a man who says he doesn't like to drink. His Death by Chocolate is a milkshake for adults: vodka, crème de cacao, Tia Maria, Baileys, Kahlua and chocolate ice cream. And he supplements the extensive standing menu with daily offerings dictated by what's fresh at the local markets; you might get to try a Mango-Passion Fruit Martini. If you're lucky, you'll be around when Mr. Cheng is handing out some of his more whimsical creations, such as artfully assembled jello shots in flavors that include Mango Daiquiri and litchi sake.

To combine a civilized drink or two or six with the pleasures of the great outdoors, climb to the rooftop bar of Wooloomooloo's new Wanchai branch. Gazing over the 270-degree view, you're the king of the city. To the right, thoroughbreds round the bend inside Happy Valley racecourse. Straight ahead, boat lights twinkle on the water and the brake lights of a thousand red taxis and Ferraris flash on the spaghetti-strand highways. To the left, dotted windows of skyscrapers reveal the silhouettes of bankers hammering out the next megadeal (or perhaps their CVs).

Have another sip of champagne and at long last a peaceful revel in the beautiful frenzy that is Hong Kong.

Write to Jessica Yu at jessica.yu@wsj.com

READ MORE - After Hours: Hong Kong
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