• Hyundai Motor confirms executive reshuffle

      Hyundai Motor confirms executive reshuffle

      South Korean conglomerate Hyundai Motor Group shook up its executive ranks and appointed its first foreign head of research and development, raising expectations of a smooth transition of power at the family-run business empire. The executive position is given to Group President Albert Biermann, a German former BMW executive, who will replace longtime executives Yang Woong-chul and Kwon Moon-sik. 

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    • Boosting is now illegal in South Korea

      Boosting is now illegal in South Korea

      South Korea has officially declared that it is a criminal offence to offer boosting services in video games. According to the new law that will go into effect in around six months from now, boosting is described as an “act that interferes with a game’s normal operations by providing the service to acquire points or achievements in a way that is not approved by the game business operator”. In layman’s terms, the practice involves playing on a low-skilled player's account to artificially boost their ranking - often for a fee.

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    • Global cleaning giant sheds 100,000 jobs

      Global cleaning giant sheds 100,000 jobs

      ISS of Denmark, the world's largest cleaning company, is planning to get rid of about 100,000 jobs as it plans on exiting 13 countries that were among its least profitable markets. The move represents about a fifth of the company’s global workforce, but will also allow ISS to focus on a smaller group of larger clients.

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    • China to visit the far side of the Moon

      China to visit the far side of the Moon

      Early Saturday morning in China, a rocket will launch, carrying a lander and a rover bound for the Moon. This will mark the beginning of China’s ambitious lunar mission known as Chang’e-4, which will attempt to land spacecraft on the Moon’s far side - the region that always faces away from Earth - for the first time ever. Since no other nation has ever attempted such a feat, this means the mission, named after Chinese's goddess of the Moon, could catapult China into spaceflight history.  

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    • Quora discloses major breach, 100m users affected

      Quora discloses major breach, 100m users affected

      About 100m users of Quora were affected by unauthorised access to one of its systems by a "malicious third party," the knowledge-sharing website said on Monday. It also disclosed that account information, including names, email addresses and encrypted passwords may have all been compromised. If a user imported data from another social network, like their contacts or demographic information, that could have been affected, too.

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    • Oil cartel works to cut output

      Oil cartel works to cut output

      The global oil cartel, OPEC, and its allies are working toward a deal to further reduce oil output and raise prices, which has seriously fallen in the last week. According to sources close to the talks, the oil-producing nations eye cutting output by at least 1.3 million barrels per day, but need to convince Russia to join the measure.

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    • Qatar is pulling out of OPEC

      Qatar is pulling out of OPEC

      Qatar announced Monday that it will the Organisation of the Petroleum Exporting Countries (OPEC) on 1 January, 2019 after nearly 60 years of membership. The announcement was initially made in a series of tweets by country's state oil company, Qatar Petroleum, just days before a crucial meeting between the influential oil cartel and its allies. It also comes shortly after Qatar reviewed ways in which it could improve its global standing and plan its long-term strategy

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    • US, China agree trade war ceasefire at G20 summit

      US, China agree trade war ceasefire at G20 summit

      China and the United States agreed to a ceasefire in their bitter trade war on Saturday after high-stakes talks in Argentina between US President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on 1 January. The announcements came after Trump and Xi sat down with their aides for a working dinner at the end of a two-day gathering of world leaders in Buenos Aires, their dispute having unnerved global financial markets and weighed on the world economy.

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