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Evening Leaders – Grant Wilson BNY Whistleblower

Samsung Moves to Avoid Sales Ban in Netherlands (WSJ)

Samsung Electronics plans to sidestep a sales ban on its smartphones in the Netherlands by tweaking their technology to avoid violating Apple Inc. patents, in a move that could help break a deadlock in the companies’ multifront legal battle. A Samsung spokesman indicated the company might take a similar approach in other markets where Apple is seeking or has already obtained a ban on Samsung’s smartphones and tablet computers. The company plans to start selling the modified phones in the Dutch market this month.

The Bank of New York Mellon Corporation (NYSE:BK)
Gucci Dismisses Shenzhen Managers After Sweatshop Allegations (FT)

Gucci announced it was replacing managers at its flagship store in the booming southern Chinese city of Shenzhen after allegations by five former employees they had been working in sweatshop conditions. The former employees at the three-floor store in the Chinese city across the border from Hong Kong alleged they had been on their feet 12 hours a day and needed permission to drink water and for toilet breaks, which were limited to five minutes.

Grant Wilson is the Whistleblower in the BNY Currency Probe (WSJ)

For a decade, Grant Wilson toiled on a small trading desk at Bank of New York Mellon Corp. in Pittsburgh, buying and selling currencies for the bank’s biggest clients. Mr. Wilson also had another job: For the last two of those years he was a secret whistleblower, assisting currency-trading investigations of BNY Mellon, according to people familiar with the matter.

USDA Raises Grain Outlook (WSJ)

U.S. forecasters raised their outlook for U.S. grain supplies, putting renewed pressure on prices even as the autumn harvest continues to fall short of expectations. The U.S. Department of Agriculture now estimates domestic wheat supplies will climb to 837 million bushels by the spring, up 10% from the agency’s estimate a month ago. The agency also raised it outlook for corn supplies by 29%, expecting inventories to fall to 866 million bushels ahead of next year’s harvest.

Global Trading Strategies Closes (Businessweek)

Global Trading Strategies, a Sydney- based hedge fund founded by three former Goldman Sachs JBWere Pty. traders, has returned investors their money after its strategy of betting on global economic trends faltered.

New Perfume Comes in Pill Form (Springwise)

In a world where nano-porous materials in our clothes can make deodorant unnecessary, it may seem almost old-fashioned to continue to apply perfume to our skin. That’s certainly the view of the team behind Swallowable Parfum, an innovation that allows users to swallow a capsule to produce a fragrance that emanates from within.

IEA Cuts Forecast for Oil Demand (FT)

Global oil demand will grow by less than previously forecast both this year and next as the world economy experiences a general slowdown, according to the International Energy Agency.

Ebooks Get New Dimension as Sony and Team Launch ‘Booktrack’ on iTunes (Springwise)

Filmmakers have long been aware of the power of sound to enhance a story, but now a New York-based startup aims to bring a similar experience to e-books. Booktrack matches synchronized music, sound effects and ambient sound to the text of e-books in a way that’s automatically paced to the reading speed of the user.

Green Claim Lets Travels Pay What They Think Flight is Worth (Springwise)

Dutch Green Claim helps mediate between passengers and airlines in the event of delayed, canceled and overbooked flights — while letting clients decide what to pay for its service.