Nikki Haley sparks Confederate flag furor with new interview, but says she stands by her decision to remove it from statehouse

Carlos Barria | ReutersFormer United Nations Ambassador Nikki Haley ignited controversy Friday as a clip of her in a recent interview discussing the Confederate flag went viral. “For many people in the state,” the Confederate flag stood for “traditions of history, of heritage, and of ancestry,” Haley said. “At the same time, for many others in South Carolina, the flag is a deeply offensive symbol of a brutally oppressive past,” she said. Haley ordered the Confederate flag be removed from stateho


Carlos Barria | ReutersFormer United Nations Ambassador Nikki Haley ignited controversy Friday as a clip of her in a recent interview discussing the Confederate flag went viral.
“For many people in the state,” the Confederate flag stood for “traditions of history, of heritage, and of ancestry,” Haley said.
“At the same time, for many others in South Carolina, the flag is a deeply offensive symbol of a brutally oppressive past,” she said.
Haley ordered the Confederate flag be removed from stateho
Nikki Haley sparks Confederate flag furor with new interview, but says she stands by her decision to remove it from statehouse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: kevin breuninger dan mangan, kevin breuninger, dan mangan
Keywords: news, cnbc, companies, stands, state, heritage, decision, interview, haley, south, statehouse, confederate, roofs, roof, flag, white, carolina, nikki, furor, remove, sparks


Nikki Haley sparks Confederate flag furor with new interview, but says she stands by her decision to remove it from statehouse

U.S. Ambassador to the UN, Nikki Haley speaks during the daily briefing at the White House in Washington, September 15, 2017. Carlos Barria | Reuters

Former United Nations Ambassador Nikki Haley ignited controversy Friday as a clip of her in a recent interview discussing the Confederate flag went viral. Haley told The Blaze that South Carolina residents viewed the Confederate battle flag as being about “service, and sacrifice, and heritage” before white supremacist mass shooter Dylann Roof “hijacked” it by killing nine black church members in the state in 2015. Those comments drew criticism from numerous people on Twitter. “I beg you to stop pandering to racists,” said one message directed at Haley. But Haley in her own Twitter response to the criticism pointed to her statement in 2015 when, as governor of South Carolina, she called for removal of the battle flag from the statehouse grounds on the heels of Roof’s rampage. In that speech, Haley said that some people had a positive view of the flag, while others viewed it negatively. “For many people in the state,” the Confederate flag stood for “traditions of history, of heritage, and of ancestry,” Haley said. “At the same time, for many others in South Carolina, the flag is a deeply offensive symbol of a brutally oppressive past,” she said. Roof opened fire on a dozen black churchgoers in Charleston in June 2015, killing nine. Roof was convicted on 33 federal counts, and pleaded guilty in 2017 to state murder charges. Haley ordered the Confederate flag be removed from statehouse grounds in the wake of the shooting, when photos of Roof posing with the flag and a white supremacist screed were discovered.

One of the 60 photos on the website that was registered under Dylann Roof’s name.

In the interview published Thursday by The Blaze, a conservative news outlet, host Glenn Beck told Haley that he had gone to South Carolina after the shooting at Emanuel African Methodist Episcopal Church and was struck by the character of the people he met. “When I was there, I really was overwhelmed with, that’s who South Carolinians are. It’s not the stereotypic [sic] redneck, kinda – it’s not that,” said Beck, a former Fox News television host. “South Carolina fell to our knees when this happened,” Haley responded. Roof’s victims “were amazing people,” she said, “and here is this guy that comes out with this manifesto, holding the Confederate flag, and had just hijacked everything that people thought of.” Haley continued: “We don’t have hateful people in South Carolina. There’s always the small minority that’s always gonna be there. But people saw it as service, and sacrifice, and heritage, and – but once he did that, there was no way to overcome it.”


Company: cnbc, Activity: cnbc, Date: 2019-12-06  Authors: kevin breuninger dan mangan, kevin breuninger, dan mangan
Keywords: news, cnbc, companies, stands, state, heritage, decision, interview, haley, south, statehouse, confederate, roofs, roof, flag, white, carolina, nikki, furor, remove, sparks


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The ‘most difficult’ decision that helped create a $9 billion start-up

SEOUL — When entrepreneur Bom Kim was advised to take his company public, he might have been delighted. The prospect forced Kim to make what he calls the “most difficult” decision of his career. CNBCKim is founder and CEO of Coupang, the $9 billion e-commerce giant that’s been dubbed the Amazon of South Korea. That rapid growth led investors to tell him to take the company public. One of Coupang’s fulfillment centers in South Korea.


SEOUL — When entrepreneur Bom Kim was advised to take his company public, he might have been delighted.
The prospect forced Kim to make what he calls the “most difficult” decision of his career.
CNBCKim is founder and CEO of Coupang, the $9 billion e-commerce giant that’s been dubbed the Amazon of South Korea.
That rapid growth led investors to tell him to take the company public.
One of Coupang’s fulfillment centers in South Korea.
The ‘most difficult’ decision that helped create a $9 billion start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: karen gilchrist
Keywords: news, cnbc, companies, coupang, public, platform, change, south, difficult, billion, korea, founder, helped, kim, create, decision, startup, company, customers


The 'most difficult' decision that helped create a $9 billion start-up

SEOUL — When entrepreneur Bom Kim was advised to take his company public, he might have been delighted. An initial public offering (IPO) could have made him and his stakeholders very wealthy and provide shining recognition for his years of hard work. But instead, he was conflicted. The prospect forced Kim to make what he calls the “most difficult” decision of his career. After embarking on an arduous six-month long listing process, Kim ultimately reneged on the deal. But, even today, it remains the moment he is proudest of, he told CNBC Make It.

Bom Kim, founder and CEO of Coupang. CNBC

Kim is founder and CEO of Coupang, the $9 billion e-commerce giant that’s been dubbed the Amazon of South Korea. He started the company in Seoul in 2010, first as a Groupon-style daily deals business before quickly shifting to an eBay-inspired third-party online marketplace. It was a success: Within three years, the platform crossed a $1 billion in sales and had turned profitable for the first time, according to Kim. That rapid growth led investors to tell him to take the company public. But, says Kim, he couldn’t shake the “nagging feeling” that something wasn’t right. “We had to be honest with ourselves and say once you go public, it’s much harder, at least in the near-term, to pivot or to really change your direction,” Kim told Make It in South Korea. “We had to ask ourselves: ‘Was the platform we had built, were the services and experiences that we were providing for our customers, creating a 5% difference or were we creating that kind of world where the customers we love, their jaws would drop?,” he continued. “And the reality was no,” he said.

One of Coupang’s fulfillment centers in South Korea. Coupang

So, “right at the eleventh hour — literally the weekend before we were meant to go to the printers”, Kim said he pulled out of the process, and instead set out on a year-long journey to transform Coupang into an end-to-end e-commerce platform designed to manage the entire customer experience, from desktop to door. “If we wanted to provide something that really mattered to customers — 100 times better, exponentially better — we had to go through an enormous amount of change,” said Kim. “We had to change our entire technology stack, the way we did business, our business model.” “I think that was the most difficult, but the choice that I’m most proud of,” said Kim.

I don’t know if I can tell you that six months from now, or six years from now, that we will look similar to what we look today. Bom Kim founder and CEO, Coupang


Company: cnbc, Activity: cnbc, Date: 2019-12-05  Authors: karen gilchrist
Keywords: news, cnbc, companies, coupang, public, platform, change, south, difficult, billion, korea, founder, helped, kim, create, decision, startup, company, customers


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This $9 billion South Korean start-up is giving Amazon competition

This $9 billion South Korean start-up is giving Amazon competitionBom Kim has made history as the founder of Korea’s most valuable start-up and the country’s newest billionaire. CNBC Make It’s Karen Gilchrist heads to Seoul to meet the Coupang CEO and hear how he went from Harvard Business School dropout to founder of Korea’s answer to Amazon.


This $9 billion South Korean start-up is giving Amazon competitionBom Kim has made history as the founder of Korea’s most valuable start-up and the country’s newest billionaire.
CNBC Make It’s Karen Gilchrist heads to Seoul to meet the Coupang CEO and hear how he went from Harvard Business School dropout to founder of Korea’s answer to Amazon.
This $9 billion South Korean start-up is giving Amazon competition Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, school, went, newest, south, koreas, valuable, korean, amazon, startup, competition, billion, founder, giving, seoul


This $9 billion South Korean start-up is giving Amazon competition

This $9 billion South Korean start-up is giving Amazon competition

Bom Kim has made history as the founder of Korea’s most valuable start-up and the country’s newest billionaire. CNBC Make It’s Karen Gilchrist heads to Seoul to meet the Coupang CEO and hear how he went from Harvard Business School dropout to founder of Korea’s answer to Amazon.


Company: cnbc, Activity: cnbc, Date: 2019-12-04
Keywords: news, cnbc, companies, school, went, newest, south, koreas, valuable, korean, amazon, startup, competition, billion, founder, giving, seoul


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Australia rolls out tech to catch people using cell phones while driving

Authorities in New South Wales, Australia, have launched a detection camera program that aims to stop people illegally using their smartphone while driving. It is illegal to hold and use a cellphone while driving or riding a vehicle in New South Wales. According to New South Wales’ Centre for Road Safety, the system utilizes both fixed and transportable cameras. The Centre for Road Safety says that “strict controls” are in place to make sure that images taken by the system are managed and stored


Authorities in New South Wales, Australia, have launched a detection camera program that aims to stop people illegally using their smartphone while driving.
It is illegal to hold and use a cellphone while driving or riding a vehicle in New South Wales.
According to New South Wales’ Centre for Road Safety, the system utilizes both fixed and transportable cameras.
The Centre for Road Safety says that “strict controls” are in place to make sure that images taken by the system are managed and stored
Australia rolls out tech to catch people using cell phones while driving Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: anmar frangoul
Keywords: news, cnbc, companies, wales, tech, rolls, phones, centre, using, safety, cell, south, road, images, drivers, cameras, australia, catch, driving, technology, system


Australia rolls out tech to catch people using cell phones while driving

Authorities in New South Wales, Australia, have launched a detection camera program that aims to stop people illegally using their smartphone while driving.

During the first three months of the new system, which went live Sunday, drivers caught by the technology will be sent a warning letter.

After this, offenders will be given five demerit points and a fine of 344 Australian dollars, which equates to around $235. The fine rises to 457 Australian dollars in school zones. It is illegal to hold and use a cellphone while driving or riding a vehicle in New South Wales.

According to New South Wales’ Centre for Road Safety, the system utilizes both fixed and transportable cameras. It also uses artificial intelligence to “automatically review images and detect offending drivers.”

Authorized personnel are used to verify images that the system picks out. The Centre for Road Safety says that “strict controls” are in place to make sure that images taken by the system are managed and stored securely.

“Independent modeling has shown these cameras could prevent around 100 fatal and serious injury crashes over five years,” Bernard Carlon, the executive director of transport for New South Wales’ Centre for Road Safety, said in a statement at the end of last week.

“There is strong community support for more enforcement, with 80% of people surveyed supporting the use of detection cameras to stop illegal mobile phone use,” Carlon added.

The rollout of the scheme follows a pilot which took place between January and June. During that trial, technology supplied by a firm called Acusensus was able to check 8.5 million vehicles and determined that over 100,000 drivers had been using their phones illegally.

As the cars we drive become increasingly sophisticated, the technology that underpins them poses a unique set of challenges.

“Currently, technology is more likely to create distractions in vehicles than it is to combat it,” Alain Dunoyer, SBD Automotive’s head of autonomous research and consulting, said in a statement sent to CNBC via email.

“These days, cars have a shopping list of features which has led to tasks that were historically quite simple becoming drastically more complicated and distracting,” he added.

“Through biometric testing, we have found that these once simple tasks, like changing the radio station or increasing the temperature, can now demand a level of a driver attention similar to that of negotiating a complex junction.”

Distracted driving is certainly a serious issue. In the U.S., the National Highway Traffic Safety Administration (NHTSA) has described it as “any activity that diverts attention from driving.”

This can include talking or texting on a phone, eating or drinking while at the wheel, and even talking to other people in the vehicle. The NHTSA says that in 2017, 3,166 people were killed in crashes that involved distracted drivers.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: anmar frangoul
Keywords: news, cnbc, companies, wales, tech, rolls, phones, centre, using, safety, cell, south, road, images, drivers, cameras, australia, catch, driving, technology, system


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Mayor Pete is Hollywood’s top pick now that Kamala Harris is out of the presidential race

For all of Sen. Kamala Harris’s challenges gaining traction in the 2020 presidential campaign, she had remained the clear favorite in Hollywood. Now that the California Democrat is out of the race, the movie industry may be poised to coalesce around Mayor Pete. Fox and Frances McDormand, who previously maxed out their donations to the 37-year-old mayor of South Bend, Indiana. That’s behind Harris, who raised $1.18 million, but way ahead of Sen. Bernie Sanders, who’s third at $612,679. Harris sai


For all of Sen. Kamala Harris’s challenges gaining traction in the 2020 presidential campaign, she had remained the clear favorite in Hollywood.
Now that the California Democrat is out of the race, the movie industry may be poised to coalesce around Mayor Pete.
Fox and Frances McDormand, who previously maxed out their donations to the 37-year-old mayor of South Bend, Indiana.
That’s behind Harris, who raised $1.18 million, but way ahead of Sen. Bernie Sanders, who’s third at $612,679.
Harris sai
Mayor Pete is Hollywood’s top pick now that Kamala Harris is out of the presidential race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: ari levy
Keywords: news, cnbc, companies, pete, presidential, raised, pick, harris, buttigieg, hollywoods, south, sanders, recent, mayor, kamala, whos, race, sen


Mayor Pete is Hollywood's top pick now that Kamala Harris is out of the presidential race

Democratic presidential candidate and mayor of South Bend, Indiana Pete Buttigieg responds to a question during a forum held by gun safety organizations the Giffords group and March For Our Lives in Las Vegas, Nevada, October 2, 2019.

For all of Sen. Kamala Harris’s challenges gaining traction in the 2020 presidential campaign, she had remained the clear favorite in Hollywood. Now that the California Democrat is out of the race, the movie industry may be poised to coalesce around Mayor Pete.

In recent months, actresses Sharon Stone and Alyssa Milano have contributed to Pete Buttigieg’s effort to become the Democratic nominee, joining other celebrities like Michael J. Fox and Frances McDormand, who previously maxed out their donations to the 37-year-old mayor of South Bend, Indiana.

No candidate has raised more money from employees of Comcast, parent of film studios Universal Pictures and DreamWorks (as well as CNBC), and only Harris has brought in more money than Buttigieg from staffers at Disney. In total, Buttigieg has reeled in $971,009 from employees in the television, movie and music industry, according to the Center for Responsive Politics. That’s behind Harris, who raised $1.18 million, but way ahead of Sen. Bernie Sanders, who’s third at $612,679.

Harris said on Tuesday that her “campaign for president simply doesn’t have the financial resources we need to continue.” She had previously canceled a fundraising event in New York, following negative media reports about her struggling organization and the loss last week of a top staffer to Michael Bloomberg’s campaign.

While Harris was stuck in the low single digits in most recent polls, Buttigieg has been gaining momentum, particularly in the early states of Iowa and New Hampshire, where he’s now leading. Buttigieg, who’s bidding to become the first openly gay president, has carved out a position as a moderate who can appeal to progressives, in a race where Sanders and Sen. Elizabeth Warren have promised dramatic changes to the financial and health-care systems.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: ari levy
Keywords: news, cnbc, companies, pete, presidential, raised, pick, harris, buttigieg, hollywoods, south, sanders, recent, mayor, kamala, whos, race, sen


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2020 Democrats are already fighting over Kamala Harris’ biggest fundraisers

While Harris, of California, cited a lack of “financial resources” in her dropout announcement Tuesday, her bundler list is among the most valuable in the 2020 field. This person noted that he has heard from donors with allegiances to Biden, Klobuchar and Booker but has not made a decision on whom to back. Representatives of Harris, Biden, Booker, Buttigieg and Klobuchar did not return a request for comment. He said he even heard from people close to Sen. Bernie Sanders, but not for the sake of


While Harris, of California, cited a lack of “financial resources” in her dropout announcement Tuesday, her bundler list is among the most valuable in the 2020 field.
This person noted that he has heard from donors with allegiances to Biden, Klobuchar and Booker but has not made a decision on whom to back.
Representatives of Harris, Biden, Booker, Buttigieg and Klobuchar did not return a request for comment.
He said he even heard from people close to Sen. Bernie Sanders, but not for the sake of
2020 Democrats are already fighting over Kamala Harris’ biggest fundraisers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: brian schwartz
Keywords: news, cnbc, companies, biden, primary, sen, candidates, person, sanders, 2020, klobuchar, fundraisers, democrats, biggest, harris, booker, fighting, south, kamala


2020 Democrats are already fighting over Kamala Harris' biggest fundraisers

Democratic presidential candidates Sen. Amy Klobuchar (D-MN) (L-R), Sen. Cory Booker (D-NJ), South Bend, Indiana Mayor Pete Buttigieg, Sen. Bernie Sanders (I-VT), former Vice President Joe Biden, Sen. Elizabeth Warren (D-MA), Sen. Kamala Harris (D-CA), former tech executive Andrew Yang, former Texas congressman Beto O’Rourke, former housing secretary Julian Castro appear on stage before the start of the Democratic Presidential Debate at Texas Southern University’s Health and PE Center on September 12, 2019 in Houston, Texas.

Sen. Kamala Harris dropped out of the Democratic presidential primary just a day ago, but members of her wealthy finance committee are already seeing outreach from allies of rival campaigns in an effort to recruit them to their cause.

Harris’ most affluent fundraisers, spanning from Wall Street to Silicon Valley, have been receiving calls and emails from people close to top-tier candidates like former Vice President Joe Biden, South Bend, Indiana, Mayor Pete Buttigieg, and Sens. Amy Klobuchar and Cory Booker. These people are hoping to snag the support of the bundlers and their donor networks.

While Harris, of California, cited a lack of “financial resources” in her dropout announcement Tuesday, her bundler list is among the most valuable in the 2020 field. She had more than 100 members on her fundraising committee spanning multiple industries.

“I’ve gotten calls from most of the campaigns asking me to sit down with the candidates so they can try to woo me,” said a New York-based financier who asked not to be identified. This person noted that he has heard from donors with allegiances to Biden, Klobuchar and Booker but has not made a decision on whom to back.

Separately, a Wall street private equity executive who supported Harris has been hearing from people close to Biden and Booker since Tuesday, asking for help. This person said that the approach has been “soft” and that these people have been asking to meet in order to get a feel for whether they can receive this person’s support. This person is leaning toward helping Biden but has not yet reached a decision. That will come, this person said, in January, the month before the first contests of the primary season.

A public relations executive who has offices in New York, Washington, D.C., Los Angeles and San Francisco said that there has been talk with Buttigieg’s donor circle for months. But, this Harris backer added, discussions with Biden’s team ramped up after the California senator dropped out, and that the former vice president will likely get access to this person’s donor network.

Many of these people spoke on the condition of anonymity due to the conversations being deemed private.

Representatives of Harris, Biden, Booker, Buttigieg and Klobuchar did not return a request for comment.

Bakari Sellers, a former South Carolina state lawmaker and a member of the Harris finance committee, said he has been called by allies of most of the higher-profile candidates running in the Democratic primary, except for Rep. Tulsi Gabbard and Sen. Elizabeth Warren.

He said he even heard from people close to Sen. Bernie Sanders, but not for the sake of fundraising. Sanders has sworn to focus solely on funding his campaign through grassroots donations. Instead, a potential endorsement from Sellers, who is black, could go a long way in trying to capture black votes in the early primary state of South Carolina. Biden, who leads national survey averages, has been leading in the polls with black voters, particularly in South Carolina.

A recent Monmouth University poll showed Biden with 52% of the black vote in South Carolina. Sanders, meanwhile, had 25%.

Picking up members of Harris’ donor network would be a boon for the remaining candidates in the 2020 field.

Many of the contenders have been battling it out for fundraising supremacy in order to have enough resources to compete in the more delegate-rich primary states. That urgency to gobble up more donors will be even more prevalent in the months ahead since candidates Mike Bloomberg and Tom Steyer are billionaires and have extensive personal funds to compete in the race.

Funding for advertisements, field staff and overall campaign infrastructure is going to be key to success, particularly in Super Tuesday states like California and Texas. The contests are scheduled for March 3. Big victories that day could go a long way in helping propel a candidate to the nomination.

Biden has put enormous emphasis on Super Tuesday, while Bloomberg has already flooded the airwaves with TV ads in both of these states.


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: brian schwartz
Keywords: news, cnbc, companies, biden, primary, sen, candidates, person, sanders, 2020, klobuchar, fundraisers, democrats, biggest, harris, booker, fighting, south, kamala


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How a Harvard dropout founded South Korea’s most valuable start-up

Now, less than a decade on, Kim is the billionaire brains behind South Korea’s most valuable start-up. Kim is founder and CEO of Coupang, the $9 billion e-commerce giant that’s been dubbed the Amazon of South Korea. The shape of Coupang, the business model of Coupang … went through a lot of change. But at the eleventh hour, he pulled the deal and radically changed the business model, convinced he could build something better. While Amazon is not active in South Korea, Coupang last year outrank


Now, less than a decade on, Kim is the billionaire brains behind South Korea’s most valuable start-up.
Kim is founder and CEO of Coupang, the $9 billion e-commerce giant that’s been dubbed the Amazon of South Korea.
The shape of Coupang, the business model of Coupang … went through a lot of change.
But at the eleventh hour, he pulled the deal and radically changed the business model, convinced he could build something better.
While Amazon is not active in South Korea, Coupang last year outrank
How a Harvard dropout founded South Korea’s most valuable start-up Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: karen gilchrist
Keywords: news, cnbc, companies, business, founded, koreas, south, coupang, valuable, korea, harvard, amazon, startup, dropout, model, delivery, founder, kim, ecommerce


How a Harvard dropout founded South Korea's most valuable start-up

For many would-be entrepreneurs, Harvard’s prestigious MBA program provides an important step in the journey from dreamer to founder. But for Bom Kim, that step was quicker than most. Just six months into the program, he dropped out, determined to make it on his own. Now, less than a decade on, Kim is the billionaire brains behind South Korea’s most valuable start-up. “I had a belief when I was in grad school that I had a very short window to really make something that had an impact,” he told CNBC Make It. Kim is founder and CEO of Coupang, the $9 billion e-commerce giant that’s been dubbed the Amazon of South Korea. He started the business in Seoul in 2010 to take advantage of what he saw as the growing technology opportunity. Today his company boasts a user-base almost half the size of the country’s population. However, as the 40-year-old founder recently told CNBC Make It, he didn’t exactly set out to become the next Jeff Bezos.

The shape of Coupang, the business model of Coupang … went through a lot of change. Bom Kim Founder and CEO of Coupang

Learning to pivot

In fact, when Coupang started out in the late-2000’s, it was a Groupon-style daily deals business. But, as Kim noticed the growing scope of e-commerce, he quickly transitioned to an eBay-inspired third-party marketplace. “The shape of Coupang, the business model of Coupang, what Coupang looks like today, went through a lot of change,” said Kim.

Bom Kim, founder and CEO of South Korean e-commerce site Coupang. CNBC

The business was a success. Within three years, Kim said the company crossed $1 billion in sales and was on the cusp of an initial public offering. But at the eleventh hour, he pulled the deal and radically changed the business model, convinced he could build something better. “We had to ask ourselves: ‘Was the business we had built, were the services and experiences that we were providing … creating that kind of world where the customers we love, their jaws would drop?’ said Kim. “The reality was no,” he noted.

Starting over

So Kim decided to start over; this time reinventing Coupang as an end-to-end shopping platform designed to manage the full customer journey from desktop to door. That included creating Coupang’s own UPS-style logistics business, Rocket Delivery, intended to “delight” customers and improve South Korea’s disjunctured postal system, said Kim. “The only models that we had seen were primarily like that of Amazon … And at that time, we really envied that,” he said.

One of Coupang’s fulfillment centers in South Korea. Coupang

South Korea’s e-commerce market has been growing rapidly over recent years, and this year is projected to become the world’s fifth largest after China, the U.S., the U.K. and Japan. Meanwhile, long working hours and densely populated cities make the country ripe for on-demand delivery services. Coupang responded to those market characteristics in spades. Today, its more than 5,000 drivers – known as Coupangmen – deliver 99.3% of orders in less than 24 hours. Its new Dawn Delivery service even promises to go beyond Amazon Prime, providing 7 a.m. delivery for orders made before midnight the night before. Kim said he believes that level of detail is what has helped set his business apart in an exceedingly competitive market. While Amazon is not active in South Korea, Coupang last year outranked local names such as Gmarket and 11Street to be named the consumers’ preferred online retailer. “What seemed like a curse at that time — that we had to build this entire infrastructure, and build the technology to integrate it all, end-to-end, by ourselves, from scratch — ended up becoming a huge blessing,” he said.

South Korea as a model


Company: cnbc, Activity: cnbc, Date: 2019-12-04  Authors: karen gilchrist
Keywords: news, cnbc, companies, business, founded, koreas, south, coupang, valuable, korea, harvard, amazon, startup, dropout, model, delivery, founder, kim, ecommerce


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China is ‘coming closer’ but we don’t want a new adversary, NATO chief says

Soldiers of the People’s Liberation Army march during a parade to celebrate the 70th anniversary of the People’s Republic of China at Tiananmen Square on October 1, 2019 in Beijing, China. He said that while NATO would not get involved in an area like the South China Sea, China was engaging in economic and military projects closer to Europe. The South China Sea is an area that is subject to various territorial disputes between China and other nations who claim sovereignty to some or all of the i


Soldiers of the People’s Liberation Army march during a parade to celebrate the 70th anniversary of the People’s Republic of China at Tiananmen Square on October 1, 2019 in Beijing, China.
He said that while NATO would not get involved in an area like the South China Sea, China was engaging in economic and military projects closer to Europe.
The South China Sea is an area that is subject to various territorial disputes between China and other nations who claim sovereignty to some or all of the i
China is ‘coming closer’ but we don’t want a new adversary, NATO chief says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: holly ellyatt
Keywords: news, cnbc, companies, chief, dont, stoltenberg, adversary, closer, rise, power, nato, military, defense, relations, sea, coming, south, china


China is 'coming closer' but we don't want a new adversary, NATO chief says

Soldiers of the People’s Liberation Army march during a parade to celebrate the 70th anniversary of the People’s Republic of China at Tiananmen Square on October 1, 2019 in Beijing, China.

LONDON — NATO’s secretary general said the alliance needs to address the challenges and opportunities posed by an increasingly powerful China, but added that his 29-member defense organization does not want to make an enemy out of Beijing.

“What we see is that the rising power of China is shifting the global balance of power and the rises of China — the economic rise, the military rise — provides some opportunities but also some serious challenges,” Jens Stoltenberg told CNBC’s Hadley Gamble in London on Monday.

He said that while NATO would not get involved in an area like the South China Sea, China was engaging in economic and military projects closer to Europe.

The South China Sea is an area that is subject to various territorial disputes between China and other nations who claim sovereignty to some or all of the islands in the region.

“There’s no way that NATO will move into the South China Sea but we have to address the fact that China is coming closer to us, investing heavily in infrastructure,” Stoltenberg said.

“We see them in Africa, we see them in the Arctic, we see them in cyber space and China now has the second-largest defense budget in the world.”

“So of course, this has some consequences for NATO,” he added. The military alliance is about to hold its 70th anniversary summit this week on the outskirts of the U.K. capital.

NATO was set up in 1949 as a collective defense response to the perceived threat then posed by the Soviet Union. After several decades of cordial relations with Russia following the collapse of the USSR in 1991, relations are now tense again with its old foe after its annexation of Crimea from Ukraine in 2014.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: holly ellyatt
Keywords: news, cnbc, companies, chief, dont, stoltenberg, adversary, closer, rise, power, nato, military, defense, relations, sea, coming, south, china


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South Korea and Japan seek to resolve trade dispute, amid dim economic outlook

South Koreans participate in a rally to denounce Japan’s new trade restrictions and Japanese Prime Minister Shinzo Abe on August 24, 2019 in Seoul, South Korea. “Japan and Korea relations are very much on the mend, both sides are working hard to normalize relations. South Korea ultimately renewed the military agreement, named GSOMIA, just before it was about to expire. Chinese Foreign Minister Wang Yi, South Korean Foreign Minister Kang Kyung-wha and Japanese Foreign Minister Taro Kono in Beijin


South Koreans participate in a rally to denounce Japan’s new trade restrictions and Japanese Prime Minister Shinzo Abe on August 24, 2019 in Seoul, South Korea.
“Japan and Korea relations are very much on the mend, both sides are working hard to normalize relations.
South Korea ultimately renewed the military agreement, named GSOMIA, just before it was about to expire.
Chinese Foreign Minister Wang Yi, South Korean Foreign Minister Kang Kyung-wha and Japanese Foreign Minister Taro Kono in Beijin
South Korea and Japan seek to resolve trade dispute, amid dim economic outlook Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: grace shao
Keywords: news, cnbc, companies, dim, seaman, minister, seek, dispute, relations, economic, resolve, japanese, outlook, trade, nations, korea, japan, south, adenwala


South Korea and Japan seek to resolve trade dispute, amid dim economic outlook

South Koreans participate in a rally to denounce Japan’s new trade restrictions and Japanese Prime Minister Shinzo Abe on August 24, 2019 in Seoul, South Korea. Chung Sung-Jun | Getty Images

After Seoul announced that Japan and South Korea will be holding senior-level talks in December, some analysts said the development suggests relations may be thawing for now. Waqas Adenwala, Asia analyst at The Economist Intelligence Unit, said that he believes tensions “have de-escalated compared to what the situation was in summer.” He told CNBC on Friday that the “slight positive sign” in the situation is that South Korean President Moon Jae-in and Japanese Prime Minister Shinzo Abe are now “trying to” meet on the sidelines at the China-Japan-South Korea summit in Chengdu, China. South Korea’s trade ministry said on Friday it had agreed to hold senior-level talks with Japan in the third week of December to discuss export controls, according to a Reuters report. The two Asian powerhouses have recently been locked in a trade dispute that started in July when Japan restricted exports of three chemicals to South Korea which are critical for making semiconductors and display screens. “Japan and Korea relations are very much on the mend, both sides are working hard to normalize relations. Despite different views on historical events persist, pragmatism on the economic policy and trade front are poised to prevail,” said Jesper Koll, senior advisor at WisdomTree Investments. The leaders of the two nations have realized they “have a responsibility to demonstrate to other Asian nations that rules-based free trade is the best foundation for shared prosperity not just in Korea and Japan, but all across Asia and the world,” Koll told CNBC via an email.

Military fallout

Since their fallout this summer, tensions have escalated with the two nations taking each other off preferential trade lists and South Korea threatening to scrap a military intelligence-sharing pact with Japan. “While a near-term deal of some kind that prompts both sides to restore bilateral trade relations to their pre-dispute state cannot be ruled out, we think the feud will continue well into 2020,” said Scott Seaman, Asia director at policy consultancy firm Eurasia Group. South Korea ultimately renewed the military agreement, named GSOMIA, just before it was about to expire. EIU’s Adenwala said that decision could have been influenced by the U.S., as scrapping that deal “would have hurt the interests of the U.S. as well in the region.” But he pointed out that even after re-signing the pact, the two nations could not agree with how to move forward with the trade dispute.

Chinese Foreign Minister Wang Yi, South Korean Foreign Minister Kang Kyung-wha and Japanese Foreign Minister Taro Kono in Beijing, China. Getty Images News | Getty Images

“These instances reflect that any short-term solution they reach will only be a shaky one at best as they still have deep-seated mistrust against each other,” said the EIU’s Adenwala. Seaman said the military intelligence agreement between the two nations “will likely hold together for the foreseeable future” but it is uncertain if Moon will use it as a threat again “if efforts to resolve the trade dispute falter.” He added, however, if North Korea were to “ramp up provocations” next year that would lead to “strengthening the argument that the US, South Korea, and Japan must cooperate as closely as possible to be able to effectively manage this threat.”

Both economies hurt

On Monday, Reuters reported that both South Korea and Japan’s factory activity contracted again in November. “The outlook for both economies is not particularly bright, and an even more intense and acrimonious trade fight would certainly not benefit either country,” said Eurasia Group’s Seaman. For Japan, Wisdomtree’s Koll said that s mostly due to the typhoon disruption, the consumption tax hike and overall weakness in global demand, particularly in auto vehicles. “The figures for October are super weak but it’s a combination of factors, the most important of which is the rise in consumption tax,” Adenwala said, referring to Japanese economic data.


Company: cnbc, Activity: cnbc, Date: 2019-12-02  Authors: grace shao
Keywords: news, cnbc, companies, dim, seaman, minister, seek, dispute, relations, economic, resolve, japanese, outlook, trade, nations, korea, japan, south, adenwala


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French lawmakers hope to ban Black Friday citing its environmental impact

Black Friday sales contribute to waste and overconsumption, a group of French lawmakers have said, arguing that the annual retail extravaganza should be banned. However, some French lawmakers have voiced their opposition against Black Friday due to the environmental impacts, as well as its focus on large online retailers at the expense of smaller businesses. “But the truth is that it is first and foremost an enormous commercial operation by big online retailers,” she said according to CNBC trans


Black Friday sales contribute to waste and overconsumption, a group of French lawmakers have said, arguing that the annual retail extravaganza should be banned.
However, some French lawmakers have voiced their opposition against Black Friday due to the environmental impacts, as well as its focus on large online retailers at the expense of smaller businesses.
“But the truth is that it is first and foremost an enormous commercial operation by big online retailers,” she said according to CNBC trans
French lawmakers hope to ban Black Friday citing its environmental impact Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-29  Authors: silvia amaro
Keywords: news, cnbc, companies, retailers, paris, black, online, impact, hope, environmental, citing, ban, overconsumption, lawmakers, important, south, french


French lawmakers hope to ban Black Friday citing its environmental impact

“Youth for climate” activists demonstrate against the Black Friday in the Quatre Temps mall at La Defense business district, West of Paris, on November 29, 2019.

Black Friday sales contribute to waste and overconsumption, a group of French lawmakers have said, arguing that the annual retail extravaganza should be banned.

The U.S. tradition of shopping the day after the Thanksgiving holiday has become one of the most important dates for retailers in countries all over the world. Brands try to attract customers with what’s described as more attractive pricing.

However, some French lawmakers have voiced their opposition against Black Friday due to the environmental impacts, as well as its focus on large online retailers at the expense of smaller businesses.

Elisabeth Borne, France’s minister for environmental transition, told a French radio station Thursday that she is conscious that it’s important for many French citizens take advantage of promotions and that she’s delighted if Black Friday helps small businesses. “But the truth is that it is first and foremost an enormous commercial operation by big online retailers,” she said according to CNBC translation.

Borne also criticized Black Friday for creating “traffic jams, pollution, and gas emissions,” according to news agency AFP.

A French legislative committee opened a wider debate on Monday over whether to ban Black Friday. The French Parliament is due to return to this issue next month.

“Stop overconsumption and communications that mislead consumers,” French lawmaker Matthieu Orphelin said on Twitter Monday.

Meanwhile, environmental activists have blocked an Amazon warehouse south of Paris to protest against Black Friday. There have also been other anti-Black Friday events in other parts of the country, including in the northern city of Lille and further south in Lyon.


Company: cnbc, Activity: cnbc, Date: 2019-11-29  Authors: silvia amaro
Keywords: news, cnbc, companies, retailers, paris, black, online, impact, hope, environmental, citing, ban, overconsumption, lawmakers, important, south, french


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