Reuters blog archive
from Photographers' Blog:
By Michael Dalder
Have you ever thought about the number of cars that are on the road every day?
According to research by WardsAuto, in 2010 the number of cars in operation around the globe grew to more than 1 billion for the very first time.
That’s a lot of cars. No doubt, it also means a lot of accidents every day. But I had the chance to witness the work of some engineers – along with their reticent assistants – whose job it is to help prevent these accidents from happening by researching car safety.
I spent two days at the crash-test laboratory of the German motor club ADAC in Landsberg, near Munich, photographing the “daily routine” of crash test dummies.
The ADAC has a crash test facility accredited by the car assessment program Euro NCAP, where it probes the safety of vehicles, carrying out different tests and rating cars’ performance.
Day one in Davos showed the masters of the universe fretting about Sino-Japanese military tensions, the treacherous investment territory in some emerging markets and the risk of a lurch to the right in Europe at May’s parliamentary elections which could make reform of the bloc even harder.
Today, the focus will be on Iranian President Hassan Rouhani (and his main detractor, Israel’s Netanyahu). Presumably he’s there to woo the world of commerce now sanctions are to be relaxed in return for Tehran suspending enrichment of uranium beyond a certain level. Anything he says about Syria’s peace talks, which have so far been more hostile than conciliatory, will instantly be headline news.
from Photographers' Blog:
By Jim Urquhart
I think I just witnessed the biggest news event to take place in the small hamlet of Pierce, Nebraska.
Hundreds of miles away from my Salt Lake City home in the heart of fly-over country I was assigned to cover the auctioning off of 500 vintage automobiles in a field outside of town. Ray Lambrecht had run the local Chevrolet dealership for decades before retiring in 1996. Over the years he developed a habit of not selling trade-in cars and held onto many unsold cars. What was left was a scattered collection of hundreds of cars in warehouses and fields around the town of about 2,000 people.
from Photographers' Blog:
Pebble Beach, California
By Michael Fiala
When I usually don cameras to shoot on the 18th fairway of Pebble Beach it's to cover what is considered one of the best finishing holes in golf. Stay an arm's length within the ropes, work as silently as possible and don't distract the golfers. Instead this past Sunday I weaved myself through this hallowed stretch of coastline and into the colorful automotive celebration that is the Concours d'Elegance. An annual charitable event, which was founded in 1950, of rare automobiles, competing in their class and for Best of Show.
The Pebble Beach Concours, which concludes a week of car-related festivities - much of it business related - attracts some of the world's wealthiest car enthusiasts, industry leaders, and celebrities. The week consists of five auctions, eight concours and exhibitions, three days of racing, concept car unveilings and manufacturer displays, all culminating Sunday on the shores of the foggy Pacific.
from Expert Zone:
(The views expressed in this column are the author’s own and do not represent those of Reuters)
In 1947, when India won freedom from British rule, an enterprising young man in South Korea was realizing a dream that was to become a global phenomenon. Chung Ju-yung, founder of the Hyundai group, set up a construction company at 32 and two decades later, the Hyundai Motor Company was born.
from Global Investing:
The course is more than 20 million square kilometers, and covers 15 percent of the world's land surface. It's not a new event in next month's IAAF World Championships in Moscow but a long-term project to better integrate emerging Eurasian economies.
The eventual aim of a new economic union for post-Soviet states, known as the Eurasian Economic Union (EEU), is to "substitute previously existing ones," according to Tatiana Valovaya, Russia's minister in charge of development of integration and macroeconomics, at a media briefing in London last week.
By simplifying the designs through the elimination of non-essential parts like power steering and air conditioning, the team at Mobius is able to drastically reduce the cost of the vehicle, which they hope will help small business owners in need of affordable transportation. Reuters reached Mobius founder and CEO Joel Jackson over email to ask him about his plans for the car company and some of the challenges he foresees.
from Unstructured Finance:
By Jennifer Ablan and Matthew Goldstein
Who said bonds are boring? In recent days, Jeffrey Gundlach, the new king of the fixed-income world, has been dominating headlines with his lengthy CNBC interview on everything from counterparty risk to the market’s love affair with Apple stock to talk in the blogosphere about Gundlach’s pricey Santa Monica, Calif. residence being burglarized of more than $10 million in assets.
Against this backdrop, Gundlach’s firm, DoubleLine, hit a huge milestone this week as well, hitting $45 billion in assets under management.
from The Great Debate:
This piece originally appeared in Reuters Magazine.
Henry Ford had to fight to build the Model T, even within the company that bore his name. The Russian immigrant engineer who saved the Chevy Corvette bucked the General Motors brass to do it. Lee Iacocca and Hal Sperlich built the minivan at Chrysler only after the vehicle—and they—had been rejected at Ford.
Those three cars were not just huge commercial successes—each also placed its stamp on American life, much as the iPad has today. Two were utterly practical while the third was ostentatiously stylish, but what they all had in common is this: The people who created them overcame formidable obstacles to put them on the road. Unblinking determination is a common theme in the biggest American business success stories, such as Ray Kroc’s damn the-odds effort to build McDonalds and Steve Jobs’ audacity in reshaping Apple. Luck and timing are involved too, but they aren’t enough. The special sauce (apologies to Kroc) is a strain of determination that blends self-belief with belief in the commercial potential of a product.
By Wei Gu
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
Chinese bureaucrats’ love affair with the Audi may soon come to an end. Beijing’s new list of foreign car brands for government procurement contains not one foreign supplier. That may be a response to huge overproduction by local firms, and foreign rivals may read it as foul play. But the real lesson is that when growth slows, domestic concerns seem more important than keeping trade partners, or Audi-driving officials, happy.