Word: britishers
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...cell advance so far, is that the principle and the practice are still awfully far apart. No one doubts that the scientists created cloned embryos - largely because they documented their techniques so carefully and performed confirming tests, but also because they aren't the first to have made clones (British scientists did it two years...
...Even when it was a British colony, Hong Kong benefited mightily from a symbiotic relationship with the mainland. In the 1990s, the city prospered shipping goods manufactured in southern China by Hong Kong-owned companies. As south China's export-manufacturing economy exploded and the mainland's budding entrepreneurial class began seeking overseas investment, Hong Kong became a willing and able broker. This transition is reflected in the changing composition of the Hong Kong Stock Exchange. In 2003, Chinese companies accounted for only about 29% of Hong Kong's total market capitalization. By last September, that number had risen...
...lack of big hits - just as CD sales are falling off a cliff - has left its recorded music business out of tune. (Its sister publishing business, which licenses the use of tracks from a bulging back catalogue, is still a massive money-spinner.) Lacklustre sales from artists like the British singer Robbie Williams meant revenues tumbled 16% in the year to last April to $3.4 billion. But is a former Goldman Sachs trader with no experience in the music business the man to make EMI sing...
...seems sensible. But it's also obvious. And by trailing something you'd expect to already be an aim of record companies everywhere, Hands has drawn suspicion. "Here's a business person trying to turn [EMI] into a more creative company," says Dave Allen, bass player with British post-punk band Gang of Four, a former EMI charge. "In my mind, it's smoke and mirrors...
...Still, don't assume private equity chiefs can't work fruitfully in the creative industries. Since Permira, another leading U.K. private equity firm, took a majority stake in ALL3MEDIA in 2006, the British TV production company has been performing well, says Rob Donaldson, head of private equity at consultants Baker Tilly in London. A bigger worry for EMI: the publicity generated by the shakeup pushes more artists to withhold their music. "It's difficult for artists to invest in a company going through such change," says one record industry exec. "Will the A&R man who believes...