Samsung names Jay Y Lee executive chairman amid global economic downturn

by

Samsung Electronics has appointed Jay Y. Lee as the executive chairman to lead the world’s largest smartphone and memory chipmaker, two months after the heir received a presidential pardon that erased the 54-year-old’s criminal record.  Last year, Lee was paroled from prison after serving 18 months in jail for bribing former South Korean president Park … Read more

Human Impact Capital is a new $50M fund investing in social impact startups

by

Redstone and EnjoyVenture have combined forces to create Human Impact Capital (HIC), Germany’s first dedicated scial impact VC fund. The fund will deploy cash into digital business models focusing on health, education and “living,” and explicitly invests to have an impact along sustainable development goals. To HIC, this means “No Poverty, Good Health and Wellbeing, … Read more

Now Elon Musk says he won’t fire 75% of Twitter’s staff

by

Elon Musk told Twitter employees Wednesday that he’s not planning on laying off 75% of staff when he takes over the company, Bloomberg reports, citing “people familiar with the matter.” This is a walk back from what Musk reportedly said last week. The celebrity executive denied the previously reported number when he addressed employees at … Read more

China’s smartphone shipments slumped 23% in Jan-Aug

by

Smartphone shipment is often seen as the bellwether of China’s consumer spending, and right now, the picture isn’t very rosy. The world’s largest market for smartphones shipped 175.1 million handsets between January and August, marking a sharp 22.9% decline year-over-year, according to research from a state-backed institution. In August alone, shipments dropped 21.9% year-over-year. The … Read more