The Star Online: Business
The Star Online: Business |
- FBM KLCI marginally up at mid-morning
- What's in a name? Trump says his name worth US$3bil
- Video game deals to steal Black Friday spotlight
| FBM KLCI marginally up at mid-morning Posted: 21 Nov 2011 07:07 PM PST KUALA LUMPUR: The benchmark FBM KLCI was marginally up by 0.45 points or 0.3% to 1,434.53 at 10.45 a.m. with turnover of RM306.1mil involving the trading of 494.6 million shares. There were 155 counters up, 321 down and 239 remained unchanged. The top three gainers were DLADY that climbed 40 sen to RM23.80, KASSETS was up 35 sen to RM4.95 and UTDPLT gained 20 sen to RM18.50. For the heavyweights, Sime Darby was down 7 sen to RM8.73, MISC was down 7 sen to RM6 and Digi was up 14 sen to RM3.74. Regionally, Nikkei 225 was down 10.75 points to 8,337.52, the Hang Seng Index down 34.11 to 18,191.74, Shanghai Composite Index was down 6.09 points 2,409.04, Taiwan Taiex Index was up 17.46 points to 7,060.10, Kospi Index was up 9.09 points to 1,829.12 and Straits Times Index gained 11.20 points to 2,709.18. Full content generated by Get Full RSS. |
| What's in a name? Trump says his name worth US$3bil Posted: 21 Nov 2011 05:05 PM PST NEW YORK: What's in a name? About $3 billion, if you happen to spell it T-r-u-m-p. Real estate mogul, reality television star and author Donald Trump estimates his net worth at $7 billion in a forthcoming book. In his latest tome, Trump, known for promoting everything from his real estate projects to board games, vodka and reality TV shows, spells out his net worth, coming up with a figure billions more than Forbes magazine, which in September put the figure at $2.9 billion. Much of the $4 billion-plus discrepancy lies with something Trump calls "brand value," in the financial detail contained in "Time to Get Tough," due out December 5. On page 182, Trump lists holdings including $1.37 billion in New York City commercial properties and $1.22 billion in club facilities and related real estate. Liabilities include some $374 million in loans and mortgages. At $3 billion his biggest asset -- by far -- is brand value, which according to a note "has been established by Predictiv, the highly respected brand valuation company." The company, the note continues, "measures the financial impact of intangibles such as brand, strategy execution, innovation and post-merger integration." In its latest look at his finances Forbes conceded that "yes, Trump remains adamant that Forbes is underestimating his brand value" -- which they put at $200 million. - Reuters Full content generated by Get Full RSS. |
| Video game deals to steal Black Friday spotlight Posted: 21 Nov 2011 04:52 PM PST NEW YORK (Reuters) - Retailers are saving some of their deepest discounts on Black Friday for video game products, with large chains Wal-Mart and Best Buy putting some rock-bottom prices tags on hot games to lure shoppers into stores. The $64 billion global video game industry faces the challenge of selling an array of highly anticipated game titles that are released in a short time, while consumers do not have the cash to shell out for all of them. "(We have) a cash-strapped consumer that could not afford all the good titles released in the (third) quarter," Paul Raines, chief executive of GameStop, the biggest U.S. video game retailer, said last Thursday. To accommodate pressured buyers, retailers are heavily discounting top games, from Electronic Arts' "Battlefield 3," to Warner Brothers' "Batman: Arkham City," and Microsoft's "Gears of War 3." "I would expect retail to be more aggressive this holiday, as the market is seemingly saturated with top releases, and consumer discretionary is still under pressure," said National Alliance Capital Markets analyst Mike Hickey. Electronic Arts' "Battlefield 3," a shooter game that came out on Oct 25 and sold 5 million units in five days, will retail for $28 at WalMart and $30 at Best Buy. The games cost $60 when they first came out. Retailers have traditionally avoided selling video games at a loss, but this year may be different. "With video games being on the top of everyone's holiday list, retailers are beginning to support deeper discounts and use video games as a loss leader to drive foot traffic into their stores this holiday," said Jesse Divnich, an analyst at video game research firm EEDAR. DOORBUSTERS GALORE Microsoft's "Gears of War 3," which sold 3 million copies in its first week, will also sell at WalMart for $28. The game could still attract buyers at a higher price, said Phil Spencer, Microsoft's corporate vice president of game studios. "I've seen the WalMart circulars and they are being very aggressive to grab more and more share in the category," Spencer told Reuters in an interview. The fact that retailers are putting games like "Gears of War 3" in front of people means they think it drives traffic to the store, he added. But one deal that will be hard or impossible to find this holiday season is for the current top game, "Call of Duty: Modern Warfare 3." Activision Blizzard sold $775 million worth of copies in the first five days after the game was released on Nov 8. No major retailer has announced a Black Friday special on it yet. Shoppers looking for home consoles may be in luck. Wedbush Securities analyst Michael Pachter said he has never before seen such aggressive deals for video game hardware on Black Friday as this year's Best Buy $100 gift card given to shoppers who buy Microsoft's 4 GB Xbox console and motion-sensor add-on called Kinect for $299. Toys R Us is offering a $10 gift card with the same $299 bundle, according to a recent circular. "The big retailers recognize that people who buy games could be their customers for life," Pachter said, "and Black Friday's the time to get them into the store." Full content generated by Get Full RSS. |
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