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Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

KFC Sues Three Chinese Firms for Six Wings and Eight Legs Rumors

KFC, the popular fried chicken restaurant chain is suing three Chinese companies for spreading false rumors on social media about its poultry having "six wings and eight legs".

According to the Wall Street Journal, the companies targeted by the lawsuit are Ying Chen An Zhi Chenggong Culture Communications, Wei Lu Kuang Technology, and Ling Dian Technology. The lawsuit accuses the companies of “misleading the consumer” by posting the inaccurate information on social media, in photos and in articles.

The case was filed in the Shanghai Xuhui District People's court this week. The move comes shortly after Chinese authorities relaunched a campaign "to clean up what they call online rumors, negativity, and unruliness." The campaign seeks to put an end to internet marketers that manipulate "online sentiment on behalf of clients by posting false information about competitors."

A KFC restaurant in China
A KFC restaurant in China

KFC is demanding 1.5 million yuan ($242,000) as well as an apology from each company for spreading the false information on popular mobile phone messaging app WeChat. KFC also wants the companies to "stop their infringements." KFC China's president Qu Cuirong tells the BBC, "This not only seriously misled consumers, but also hurt our brand."

KFC  has been trying to reclaim its reputation in China since last year's meat scandal. In July, a number of chain restaurants in China, including KFC were sold expired meat by a supplier. Footage shows workers picking up the expired meat from the floor and throwing it into the processing machines.

Reasons Behind Why iPad Sales Are Declining

iPad
Source: Internet
Just about everything is going well for Apple right now.

The iPhone business is booming for Apple, Mac sales are strong, and people are getting excited about the Apple Watch. The stock is up. Apple is getting a new, glowing story in the press on a weekly basis.

There's only one thing that's not so hot for Apple, and nobody really talks about it — the iPad. iPad sales have been contracting every quarter, and nobody seems to know why. Since iPhone sales are on fire, it doesn't matter. But, the iPad was supposed to be the next major leg of the stool for Apple. There was even talk it could be bigger than the iPhone eventually. Nobody says that anymore.

So, what's going on? Credit Suisse analyst Kulbinder Garcha has a pretty straightforward theory: The large smartphones (phablets) are killing the iPad. Why buy a tablet when you could have a big smartphone, which is pretty much the same thing as a tablet?

Here's a chart from Garcha to prove his point:


Phablets vs Tablets: Why iPad Sales are Declining
Phablets vs Tablets: Why iPad Sales are Declining


Article source: Business Insider.

Apple CEO Tim Cook Plans To Give Away All His Wealth

Tim Cook intends to "give away all his wealth" after providing for his 10-year-old nephew, according to a new profile of the Apple CEO in Fortune.
Apple CEO Tim Cook Plans To Give Away All His Wealth
Apple CEO Tim Cook Plans To Give Away All His Wealth

Cook spoke to Adam Lashinsky extensively on a range of issues, including his outspoken support for a number of social issues. "You want to be the pebble in the pond that creates the ripple for change," the CEO explained. To this end, once he has paid for his nephew's college education, he intends to give away his fortune to philanthropic issues.
Lashinsky reports that Cook has a net worth of around $120 million, in addition to restricted stock worth roughly $665 million.
By making this promise, Cook follows in the footsteps of other high-profile philanthropists. In 2010, Microsoft cofounder Bill Gates and investor Warren Buffet launched the "Giving Pledge" — an appeal for American billionaires to give away at least 50% of their wealth to charity. Tesla Motors CEO Elon Musk, business magnate Michael Bloomberg, Facebook CEO Mark Zuckerberg and eBay founder Pierre Omidyar have all signed up.
Tim Cook has previously spoken about his affection for his nephew and his sense of social responsibility. "I have a nephew that I dearly love that's 10, and when I look at him, and when I think of leaving a world that's not as good as when I entered it, there's no bigger sin than that," the CEO told an audience at New York City's Climate Week in September 2014.

This post has been collected from Business Insider.
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