Fashion on wheels, a mobile fashion boutique selling clothes, shoes, bags and other accessories, and even fitted with a changing room is transforming the way women shop in Nigeria's commercial capital of Lagos, by giving them a shopping experience right at their door steps.

LAGOS, NIGERIA  (REUTERS) - Early morning rush hour in Nigeria's commercial capital of Lagos and 25-year-old Olari Ajayi is manoeuvring her old white truck through notoriously congested streets.

"I just figured you know... I need something that is, that the people can enjoy the experience while shopping, you know it's hot, the climate in Nigeria is one that you can't stand outside for too long, you know without feeling so hot, you know I just thought you know what, let me get something big, with an AC (Air Condition), the clothes are hung, and I thought why not just have my shop on wheels you know, the rates in Nigeria right now are just so alarming, you know so I didn't even bother considering a shop, I just wanted something mobile. I can change my location any day, I am not restricted to one area," she said.

Ajayi left her job at a marketing company in London in 2011 to set up the business selling clothing and fashion accessories from the trunk of her car.

This year she bought an old truck and turned it into a mobile walk-in closet that is fully stocked with handpicked imported merchandise from Britain and America. The truck even has a build in fitting room.

Ajayi says the business has grown in popularity, mainly due to the fact that unlike location stores, she can meet her customers at their 'point of need' so to speak, rather than wait for them to come to her.

"We don't necessarily have bad days except when it's raining and we can't really like open the truck. Unlike a shop where you could still operate, you know, even though nobody would really attend, you know, but there's no competition really, we are the first and so, and every other person who is on ground and sort of have a brick and mortar shop experience, they will tell you that in a day, because they are confined to a particular location, they make this much money, unlike us, we can go to the rich people today, we can go to the average, we choose where we want to go and set shop," Ajayi said.

The mobile boutique has impressed many like first time customer, Felicia Okpala, who is often too busy to spend time in traffic or go into town to shop.

"The concept is beautiful, for me this is the first time I am seeing this and for this to be happening in Nigeria, I don't know if it's happening anywhere else, but coming to Lagos I think it's fantastic, it's a great idea and I think it's life made easy," said Okpala.

Ajayi, who also owns a clothing store in one of Lagos' fashion districts hopes to expand "Fashion on Wheels" in the next few years to include more trucks that can cater for customers living in other parts of Nigeria.

Reuters Business  Report  It only took a handful a words for Tony Hayward to become a global symbol of corporate carelessness.

TONY HAYWARD, FORMER BP CHIEF EXECUTIVE, SAYING IN MAY 2010:

"There's no one who wants this thing over more than I do, I'd like my life back."

Two months after those infamous comments in 2010, he was out, but it seems, not down forever.

Hayward has returned to a top-line job, being appointed interim chairman of commodities giant Glencore Xstrata.

His appointment comes after a shareholder coup at the newly merged group, which pushed out chairman Sir John Bond and all the former Xstrata directors.

Hayward isn't chasing the job permanently, as he continues to run Genel Energy, the Kurdistan-focused exploration company he set up after leaving BP.

But his appointment is a public show of faith in a man once thought to be fatally damaged goods.

Al-Bassam is one of four men to be sentenced for a hacking spree that cost millions of dollars of damage to computer networks run by Sony, the CIA and other agencies.

 HEAD OF THE BRITISH POLICE CENTRAL E-CRIME UNIT, DETECTIVE SUPERINTENDENT CHARLIE MCMURDIE, 

"After initially being alerted by the FBI to criminal activity on British soil, the Police Central e-Crime Unit came to arrest Ryan Cleary. At the time of his arrest he was in the process of attacking the Serious Organised Crime Agency website."

Prosecutor Andrew Hadik strongly condemned the four men, three of whom have been ordered to serve jail terms.

ANDREW HADIK FROM THE CROWN PROSECUTION SERVICE, 

"The actions of these LulzSec hackers were cowardly and vindictive. The harm they caused was foreseeable, extensive and intended."

The hackers all pled guilty to a variety of offences, one is awaiting a further sentence for possession of child pornography.

And activists were out in force in Brussels at the start of two days of EU policy talks.

They want to see an end to over fishing and the controversial practice of dumping fish back into the sea after it's been caught and killed just because it's the wrong species .

 TONY LONG, DIRECTOR OF EUROPEAN POLICY OFFICE OF WORLD WIDE FUND FOR NATURE (WWF), 

"Eighty percent of fish stocks are threatened or over-fished already, that is how bad it is. Fish are not getting to the age or maturity where they can reproduce so, as long as that is the case then the fishing populations are going to collapse as they are doing now."

The campaigners want to see overfishing banned by 2020.

They also want to see fines for countries that break the rules.

But France, Spain and Poland say ending so-called discards will hit fisherman's profits as they currently throw back the least valuable fish.

Maria Damanaki is the EU's Fishery Commissioner.

EU COMMISSIONER FOR FISHERY MARIA DAMANAKI:

"Of course there are differences, of course we have been negotiating for months and we are going to negotiate more with two days and so on, but at the end of the day we need a deal."

The Agriculture and Fisheries ministers hope to thrash out reforms that will last a decade.

But discarding is more than 40 years old and previous attempts to introduce restrictions have failed.

This is clearly a hard ship to turn and agreement may not be easy to achieve.

UK Finance Minister George Osborne made comments at the G7 that no bank is too big to fail. Combine this with comments global financial institutions saying banks cannot be allowed to fail, and the logical conclusion is that bank break-ups are on the cards. That's a hot potato that politicians don't want to tackle at the moment, says BGC Partners' Mike Ingram.

 LONDON, ENGLAND, UK (REUTERS) -  BGC PARTNERS MARKET COMMENTATOR, MIKE INGRAM, 

"(QUESTION: Did we get anything out of the G7? I know there are little bits and pieces. Osborne made some comments on some of the banks, but anything of substance for you?) 

(QUESTION: No, go ahead.) 

Very, very global important financial institutions which they said they cannot let them fail. So if you're saying that there is nothing out there that's too big to fail, then by implication, you're going to be starting to talk about breaking these banks up. Now this is something that's been mentioned on and off by a number of commentators for sometime but is something that the politicians don't want to tackle right now. 

(QUESTION: Eurogroup is today. Ahead of that, we've had Schaeuble, the German Finance Minister saying he wants a limited banking union. More talk from them on this banking union. How far back is that going to put things?) 

Well it certainly seems like the deadline for March next year is really off the cards and that was looking quite clear for some time. It was also a very challenging deadline. I think the issue for Germany ultimately is they want to do banking union on the cheap. They don't want Germany to be on the hook for any more banking bailouts. That's the reason why they've been back-peddling for the best part of the 12 months now on any banking bailout from the ESM. And interestingly enough, one of the things which Germany now seems to be worried about is the resolution mechanism where they're saying well we need to get some of these banks wound up very quickly, but you know what, we're not going to pay for them. 

(QUESTION: I just want to mention, I know we're going through quite a few things quite quickly. This Italian retreat in Tuscany, Letta, the new Prime Minister warning of the future of the government's at risk after Berlusconi made an attack on magistrates over the weekend, what do you make of all of this?) 

Well I have to say that even when Berlusconi finally came on board in this coalition government with Letta, I mean the signs weren't good. Berlusconi had a long list of demands basically either to keep himself out of jail or to protect his own personal interests. We have to stay fairly consistent there and that wasn't necessarily going to sit well with Letta's government. So I would have to say that even if the government in Italy does push through a few measures, it has very, very limited shelf life and we're seeing some of that right now."

Unlike Samsung, Apple does none of its own production - relying on Asia's contract makers instead.

The biggest of the bunch is Apple's old flame Hon Hai - known better by its trade name Foxconn.

But it's not exactly been a fairy tale romance.

Over the past four years as Apple's shares rose six-fold to briefly make it the world's most valuable company, Hon Hai - after a little spurt - has basically stayed flat.

That's in part because of what you see here: Hon Hai's earnings have stayed relatively stable over the last few years versus this huge ramp-up for Apple - which has been very successful squeezing every single possible drop of cash out of its suppliers.

In fact, it commands an estimated 55% margin for the iPhone alone, according to Piper Jaffray.

And now there's talk Apple will turn to Hon Hai's rival Pegatron to assemble the long-rumored lower-end iPhone, with Pegatron increasing its China factory staffing by up to 40% in the second half of the year.

Keeping the squeeze on its supplier's margins will be key for Apple if it does indeed go ahead with emerging-market priced iPhone.

In the first quarter of 2013 Apple's overall gross margins were 37.5 percent - that's industry leading.

If you compare that with Hon Hai, analysts expect it to come in at about 8.3 percent.

Pegatron, with its more aggressive pricing, had even lower figures - just 3.1 percent.

Hon Hai is trying to move up the value chain, by doing more profitable activities for Apple - like manufacturing the components instead of just assembling the phones.

 REUTERS REPORTER, JON GORDON, 

"But the kind of industry-topping margins enjoyed by Apple will remain a distant dream for its suppliers. That means more of the same: limited profits and cutthroat competition as they continue to compete for Apple's affections."

China-Jack Ma/Taiji -- Alibaba founder Jack Ma opens Taiji club just before his resign

 China Central Television (CCTV) - Alibaba founder Jack Ma opened a Taiji club on Friday afternoon in Xixi National Wetland Park in the city of Hangzhou in east China's Zhejiang Province, right before his resign.

Jack Ma performed Kung Fu at the opening ceremony of the club.

All the participants are followers of Taiji Zen, according to Ma.

Ma and action movie star Jet Li established Taiji Zen International two years ago with the aim of spreading the culture of Taiji to the world.

For some, Ma has special meaning to open the club at his resign.

"I don't think he steps down. He just stands on a higher mountain to observe the situation, to give up routine job, so that he could see farther to push Alibaba group," said Sally Wu, an anchorwoman of Phoenix Television.

Ma will still be the chairman of Alibaba group, but will not participate in any management. Ma will chair the Nature Conservancy of China and will work on promoting Taiji culture in the future.

The Nature Conservancy is a leading conservation organization working around the world to protect ecologically important lands and waters for nature and people.

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He wanted something to ring up transactions, clock in staff, do inventory and let him see what's going on at his other location. Branson spent hours checking out different point-of-sale systems, and came across ShopKeep, a small New York-based company that operates a cloud-based POS with an iPad.

"It's very cost-effective, for the complete set up, honestly, it cost about 20% of what a big, bulky Windows-based PC point-of-sales costs, which is great. The iPad has numerous functionalities. I use it for my stereo. I use it for my time clock. I use it for the Internet. Everything on the $50 a month is nothing in comparison to all the time I save, actually not having to dig through all the receipts, it's so easy to use, I don't know. I have been doing it for eleven years, and can't even imagine going through the first nine without this."

ShopKeep has 6,000 customers around North America. It employs 63 people, who just moved to a new, spacious office in downtown Manhattan.

The company's founder and CEO, Jason Richelson, started ShopKeep after getting frustrated with an inefficient transaction system in a grocery and wine store he ran in Brooklyn. That store financed Richelson's new idea. Later came venture capitalists.

 JASON RICHELSON, CEO AND FOUNDER, SHOPKEEP:

"The brand that we created, ShopKeep, the brand really is about being unintimidating, approachable, and retailers are generally scared of technology."

Customers pay $49 a month for each register, a discount for three or more, and a one-time equipment fee of rough $11-hundred, which includes an iPad, a cash drawer, iPad stand, card swiper and printer.

ShopKeep is just one of the emerging players at the crossroads of technology and retail. Square, which is backed by JP Morgan Chase, has the early lead. The equipment, iPad not included, costs about $750 and on top of that retailers fork over 2.75 percent per transaction. There is a monthly flat-fee option of $275.

And there are other differences, Square allows retailers to use devices run by Apple iOS and Android for nearly all non-cash transactions. ShopKeep registers only work with iPads. Android devices can be used for backroom operations only.

According to research firm IHL, the traditional point of sale industry was worth about $18 billion worldwide in 2012, and is expected to grow about 5% this year. Mobile POS, like ShopKeep, rang up about $2.3 billion in 2012, surging to an estimate $3.2 billion by the end of 2013, a much faster growth rate than its traditional retail counterpart.

 JASON RICHELSON, CEO AND FOUNDER, SHOPKEEP:

"We're now are getting so many customers and they continue to want this feature and that feature, and we're trying to deliver what their needs are, but we can never can make everyone happy. But we're trying very hard, that's why we moved to this office, we will be able to hire more engineers, hire more people so we can deliver on the needs of our customers."

Though growing fast, the mobile point-of-sale industry is still minute compared to the retail experience. But with tablets and other mobile devices gaining more traction in the retail world, ShopKeep has to continue to innovate in order to convince new customers that its platform is the easiest and the cheapest way to go.

Boy, that's a great question. I think if something happened to Warren and if his successor was not up to the job, which I don't think is going to be the case, and then if sometime down the road something happened that started to split the management team up, that would bother me. But right now, I think it's a really well-run engine and I don't see anything making me terrifically negative on the stock.

 JEFF MATTHEWS, FOUNDER, RAM PARTNERS LP:

You know, every time something happens, every time Buffett says something, every time there's a new letter out or he's on CNBC or something, somebody says, Oh Buffett talked about that, that means this person is going to be it; or, he mentioned this person, that means Bill Gates is going to be doing it. And I thought people should really just think about it the way an investor would think about it, the wayWarren Buffett would think about it, and really think it through so that if it happens and you wake up one day and there's somebody there that's not Warren Buffett, you're very comfortable with it. And I think if you do it that way, he'll be very comfortable with it. And I think it just comes down to one person.

QUESTION:What investments look more intriguing perhaps now than in the past?

EFF MATTHEWS, FOUNDER, RAM PARTNERS LP:

Well I really think the US housing recovery is going to drive a lot. It's not just houses. It helps banks. It helps people that sell things into houses. It helps contractors. It helps Ford sell more pickup trucks which we saw just yesterday. The numbers came out and the pickup truck sales are great. So it helps a lot, and that's something that I'm really focused on. I think that's a really good development for the economy. The second thing that I think is wonderful is this whole shale revolution which is helping Berkshire. The railroad is shipping crude oil, half-a-million barrels a day of crude oil is going by rail, by Burlington Northern. It has very far reaching effects, and I think that's very positive for a lot of things. So I'm very optimistic about certain sectors that are really geared for the United States because I think there's a lot of good going on here.

USA (Next Media) -  Royal Dutch Shell said on Wednesday it will go ahead with the world's deepest offshore oil and gas production project, pushing the boundaries of technology to produce hydrocarbons from nearly 2 miles (3.2 km) below the surface of the Gulf of Mexico.

Coming three years after the Macondo oil spill disaster, Shell targets first production by 2016, demonstrating confidence in big offshore projects in spite of a downturn in oil prices.

"Ultra-deep" wells, drilled in water at least 1.5 km (4,500 feet) deep, and often into several more kilometres of rock to the reservoir below, accounted for around half of all the world's new discoveries in the first half of last year.

SOURCES: Reuters

http://www.reuters.com/article/2013/05/08/shell-gom-stones-idUSL2N0DP1I420130508