Asia stocks mostly lower after Europe growth downgraded, oil falls to fresh low. + MORE Nov 5th

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SEOUL, South Korea – As Samsung’s smartphone business suffers a dizzying decline, another issue is vexing investors.
Command of one of the world’s most valuable consumer brands will eventually pass to the son of its ailing patriarch whose business abilities remain a mystery despite being elevated two years ago to a top role at the company.
Expectations of a leadership shift at Samsung intensified after the chairman of the flagship company, Samsung Electronics Co., suffered a heart attack in May. Lee Kun-hee, 72, remains hospitalized and has never publicly named his only son, Lee Jae-yong, as heir apparent. But within the financial world and South Korea, where Samsung’s annual sales equal a quarter of the economy, there is little doubt he’ll be the third generation of the Lee family to head the sprawling business.
The 46-year-old was promoted to vice-chairman level in 2012 after joining the company in 1991. His increasing sway comes as Samsung’s rapid success with the smartphone product category pioneered by rival Apple Inc…

This GIC rate is offered by DUCA Financial Services and was updated on 2014-10-20. Click on the link above to get more details or apply online.

SEOUL, South Korea – Asian stock markets mostly fell Wednesday as oil’s fall to a three-year low weighed on energy companies and weaker European growth forecasts dampened sentiment.
KEEPING SCORE: Hong Kong’s Hang Seng fell 0.6 per cent to 23,715.82 and South Korea’s Kospi was down 0.2 per cent to 1,931.43. Australia’s S&P/ASX 200 was nearly flat at 5,517.90. Markets in mainland China and Taiwan also fell while Singapore and Indonesia were slightly higher. Japan’s Nikkei 225 erased losses in the afternoon, finishing up 0.4 per cent at 16,937.32. Chinese state oil giant PetroChina Co. fell 2 per cent and China Petroleum & Chemical Corp., also known as Sinopec, fell nearly 2 per cent. Japanese petroleum and metals company JX Holdings Inc. shed 3 per cent.
OIL SLUMP: Benchmark U.S. crude hit a fresh three-year low at $77.05 a barrel, down 14 cents. The contract fell $1.59 to $77.19 on Tuesday. Oil prices have been in slump since the summer and the price of oil fell further Tuesday after Saudi Arabia decided to sell its oil at bargain prices to the U…

BEIJING, China – Activists say police in southern China have detained seven employees of a shoe factory amid a quarrel over back pay and benefits in a rare case of detentions in a labour dispute.
Rights advocate Peng Jiayong said Wednesday that employees went to the Xinsheng shoe factory in Guangzhou on Monday after the local government promised a “satisfactory” solution to the dispute. They were met with about 200 hundred police officers who took away workers’ representatives.
Chinese authorities usually try to help broker solutions to labour disputes and rarely detain workers.
Peng says 116 Xinsheng workers are demanding 5 million yuan ($820,000) in back pay and benefits after the shoe factory decided to relocate.
Guangzhou police did not immediately respond a request for comment.
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