Samsung announces three new CEOs and posts record profits

Samsung Electronics CEO Kwon Oh-hyun unexpectedly announced his plans to step down earlier this month, citing the need for new leadership amid “unprecedented crisis,” and the company has now announced his replacements. There’ll be three leaders each with a specific area of focus — Kim Ki-nam heading up the components business, Kim Hyun-suk (HS Kim) running consumer electronics, and Koh Dong-jin (DJ Koh) in charge of mobile and IT.

Yoon Boo-keun (BK Yoon) and Shin Jong-kyun (JK Shin) are resigning altogether from their previous co-CEO roles after stepping back from direct control in 2015. It’s not clear whether any one of the new leaders will have an elevated status similar to Kwon’s — Samsung’s announcement describes the new arrangement as “maintaining the current three co-CEO management structure.”

Kim Ki-nam was already responsible for Samsung Electronics' overall semiconductor business, and variously in the past ran the memory division and was CEO of Samsung Display. Samsung describes Kim Hyun-suk as an expert in display technology, having helped lead the company to dominance in the global TV market. Koh Dong-jin was formerly the head of mobile R&D and took over from Shin as mobile leader in 2015.

“The next generation of leaders are well suited to accelerate the pace of innovation and address the demands of the connected world,” Kwon said in a statement. “They have proven track records with extensive experience and outstanding expertise in their fields.”

The news comes as Samsung announced its highest ever quarterly profits. It made 14.53 trillion won (about $13 billion) in operating profit off 62.05 trillion won ($55.4 billion) in revenue between July and September, beating the record of 14.1 trillion won set last quarter. The semiconductor business was the biggest driver — Samsung says that the Galaxy Note 8 helped the mobile business post strong shipments, but profit actually declined quarter-on-quarter because sales of lower-end models were higher.

R. Tiglao Exposed LTO Records Showing Aquino Never Bought or Sold a Porsche

Veteran columnist Rigoberto Tiglao exposed the Land Transportation Office (LTO) records of former President Benigno Aquino III showing that he never bought or sold an expensive Porsche car. The LTO records proved that the former President did not sold his Porsche 911 Carrera car which he claimed he bought for P5 million. The controversial Porsche car of the former President made headlines just months into his presidency but he explained that he bought the luxury car with the proceeds he got when he sold his BMW. Because of the furor from such display of opulence, Pres. Aquino claimed to have sold it six months later for exactly the same price. According to Tiglao during that time he asked through his column the LTO to release the car's deed of sale and registration to prove that it was not a gift from a Chinese-Filipino tycoon as rumored by some individuals critical to the President. The only possible way to discover whether the Porsche luxury was indeed sold was through ...

You can pay at a restaurant by smiling at a camera

© Provided by Engadget As easy as it is to make purchases in the era of tap-to-pay services , it's about to get easier still. Alipay (which handles purchases for Chinese shopping giant Alibaba) has launched what it says is the first payment system that uses facial recognition to complete the sale. If you visit one of KFC's KPRO restaurants in Hangzhou, China, you can pay for your panini or salad by smiling at a camera-equipped kiosk -- you need to verify the purchase on your phone, but you don't have to punch in digits or bring your phone up to an NFC reader. The system (Smile to Pay) is purportedly resistant to spoofing with photos and other tricks. It relies on both depth-sensing cameras and a "likeness detection algorithm" to make sure it's really you. Reportedly, the technology is good enough that it can accurately identify people even when they're disguising themselves through makeup or wigs. You shouldn't have to worry about someone buying ...

Tesla cloud account hacked to mine cryptocurrency

© Provided by The Hill An unidentified outside hacker infiltrated Tesla's Amazon cloud account and used its systems to quietly mine for cryptocurrencies, a cybersecurity firm announced Tuesday. The hack also potentially exposed the electric car company's data. Researchers for RedLock found that Tesla's credentials on an IT administrative console were not password protected. They made the discovery while trying to track down which organizations had left their Amazon Web Services (AWS) credentials openly exposed on the internet last month. The hackers quietly hijacked the console and began running scripts to generate virtual currency like bitcoin, the latest in a series of "cryptojacking" attacks. The researchers also found the hackers used "sophisticated evasion measures" to go undetected. A spokesperson for Tesla said the company learned about the breach in a company-sanctioned bug bounty program that pays outside hackers to discover vulnerabilitie...

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