School of steel

Article Abstract:

Japanese metal giant Nippon Steel acquired a 50% stake in America's fourth-largest steel maker National Steel in 1984 in order to save it from exploitation by its main shareholder National Intergroup. The company's turnaround has been finally achieved with a mixture of Japanese and American management styles. However, the early days of the partnership were difficult, with NKK underestimating the technological and cultural differences between the two companies. National Steel chairman Osamu Sawaragi has successfully combined the horizontal communications methods of Nippon Steel with National Steel's management style.

Iron and Steel Mills, Blast furnaces and steel mills, Raw Steel, Steel industry, National Steel Corp. (Mishawaka, Indiana), NS, Nippon Steel Corp.

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Arbitrary justice: breach of contract in China becomes test case

Article Abstract:

Chinese courts refuse to enforce an agreement between Hong Kong-based Revpower and Shanghai Far East Aero-Technology Import & Export, raising anew international concerns about China's rule of law. The agreement had an arbitration clause that appears in more than 10,000 agreements between US and Chinese firms. An intl arbitration tribunal in Stockholm awarded Revpower $4.9 million, now $7.8 million with interest. Washington may use the issue to press China, perhaps threatening to block access to the World Trade Org.

China, Contracts, International relations, Commercial arbitration agreements, Rule of law, Shanghai FarEast Aero-Technology Import and Export Corp.

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In the furious flurry

Article Abstract:

Hongkong investors are concerned about companies which sell covered warrants at pre-determined prices without the sanction of the company actually issuing the underlying stock. It is felt that manipulation of share prices could affect the market value of the shares negatively. However, the Hongkong share-options market, which should be in operation by late 1993 or early 1994, will make it virtually impossible for any firm to control its share prices.

Economic aspects, Laws, regulations and rules, Prices and rates, Stocks, Stock-exchange, Stock exchanges, Securities, Hong Kong, Stock prices, Stock redemption, Stock warrants

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