REPORTS: Hasbro Is In Talks To Acquire DreamWorks Animation (HAS, DWA, SFTBF) | ||
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Hasbro is in talks to acquire DreamWorks Animation, according to a report from Deadline.com. Deadline reports that DreamWorks and Hasbro are in talks to create a combined family entertainment company that would be called DreamWorks-Hasbro, and says the deal is at least 60 days away from being finalized. DreamWorks currently has a market cap of about $1.9 billion and is the studio responsible for producing animated films including, "Shrek", "Madagascar", and "How to Train Your Dragon." Deadline's report said DreamWorks CEO Jeffrey Katzenberg is looking for Hasbro to pay $35 a share for the company, which would be more than a 50% from the $22.37 that DreamWorks shares closed at on Wednesday. The New York Times, citing a person briefed on the matter, is also reporting that Hasbro and DreamWorks are in talks regarding a deal. That report said only that Katzenberg is seeking a deal worth more than $30 a share. These reports come about six weeks after The Wall Street Journal reported that Japanese conglomerate SoftBank was in talks to acquire DreamWorks, though the Journal later reported that these talks cooled for reasons that weren't known at the time. The Times' report on Wednesday also said it isn't clear why those talks broke down. Deadline also reported that in a separate deal, DreamWorks is looking to form a joint venture with The Hearst Corporation involving its AwesomenessTV arm. DreamWorks acquired AwesomenessTV for more than $100 million in May 2013. AwesomenessTV operates a network of YouTube channels. Deadline broke the news after 8:00 pm ET, which is when stocks no longer trade in the after hours, but shares of DreamWorks are likely to rise sharply on Thursday following the news. You can read Deadline's report here, and The New York Times report here. Join the conversation about this story »  | ||
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Nintendo Is Making One Huge Mistake | ||
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Nintendo isn't going to change its tune on mobile games anytime soon. And that might be a huge mistake. In a Q&A with investors, Nintendo CEO Satoru Iwata reaffirmed the company's longstanding stance on mobile games, saying, "Basically, Nintendo’s utilization of smart devices means to 'make a stronger bond with our consumers through the use of smart devices,' instead of to 'do business directly on smart devices.'" That doesn't mean the company is ignoring mobile entirely. Iwata stressed the importance optimizing its websites for mobile phones, as well as building out a mobile site for the company's Mii characters, which is Nintendo's version of avatars, and are used in various games, including "Tomadachi Life." "If we were able to expand the Mii population and Mii were usable on consumers’ smart devices, for example, if consumers were able to create their profile icons on social media using Mii, we believe consumers would be happy, and we are developing something like it now," he said to investors. In a Q&A with Re/code's Eric Johnson, Nintendo of America's President and COO Reggie Fils-Aime reiterated the sentiment, saying, "It hasn’t changed our philosophy, which continues to be that we believe that it’s best for the gamer and the consumer to have gaming experiences that are unique and differentiated, and part of the way we deliver that is with our unique and differentiated hardware." Not releasing mobile versions of its games is missed opportunity for Nintendo, not least of which because the market for mobile games is huge. According to a recent report by App Annie (via Business Insider Intelligence), games represent 75% of mobile spending on iOS, and 80% on Android. Casual games, such as "Kim Kardashian Hollywood," brought in $43 million in the third quarter alone. And King, the maker of the game "Candy Crush," is still killing it: The company reported adjusted profit of $177.4 million, or $0.56 per share, which beat expectations for earnings of $0.47.
According to Juniper Research, mobile gaming's footprint will continue to grow. Juniper predicts that gaming on tablets will reach $13.3 billion by 2019; in 2014, that number was $3.6 billion. Other game companies are finding success in the mobile game market, as well. EA posted a Q2 revenue of $1.22 billion, thanks in large part to growth in the mobile gaming sector. The company has 155 million active monthly mobile game users. But there's hope yet for Nintendo. And it might start with its Amiibos, Nintendo's version of Disney's "Infinity" series of games and Activision's "Skylanders," where physical game pieces are used in the games. According to IGN, Nintendo will not region-lock Amiibos. That means the pieces will just work on any Nintendo device, no matter which region it's in.
Activision offers its "Skylanders" toys for mobile devices, and has found great success there, according to Kotaku. The tablet version comes with a special controller that pairs with your tablet, making it easy to play. The logical next step for Nintendo could be to make its Amiibos available on tablets, as well. Nintendo is also partnering with a company called Loot Crate to offer Amiibo subscriptions, according to GameSpot. By making the Amiibos work on any device, regardless of region, as well as partnering with third parties to offer the figurines, Nintendo is putting all of the pieces in place to make a huge impact in the mobile space. And people are clamoring for Nintendo to do so, including its investors and even internal employees. According to the Motley Fool, it's even creating something of an "internal revolt" between high-level execs and Iwata. The undeniable potential of mobile gaming, as well as the increasing calls for Nintendo to push into the mobile space, should make it clear to the company and Iwata that the future can be bright when it comes to mobile gaming. It just needs to be open to trying new things. And let's face it: Nintendo can use all the help it can get right now. It recently announced that it's on track to reporting an annual profit for the first time in four years. SEE ALSO: Black Friday Could Be The Day The Xbox One Finally Towers Over The Competition Join the conversation about this story »  | ||
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George W. Bush Had The Perfect Response To Bill Clinton's Twitter Challenge | ||
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Former President George W. Bush sent an incredible reply after another ex-president, Bill Clinton, asked why he wasn't on Twitter Wednesday evening. Clinton questioned Bush with a tweet saying he received his copy of "41: A Portrait of My Father," Bush's biography of his dad, former President George H.W. Bush. In the message, Clinton asked why Bush had not joined Twitter. Bush responded on another social media site, Instagram. He asked why Clinton didn't have an Instagram account. His message included the hashtag "#BrotherFromAnotherMother."
This is almost certainly the first time two former presidents have referred to themselves as brothers from another mother. Both Bush and Clinton could find themselves involved in the 2016 presidential race. Clinton's wife, Hillary Clinton, is widely considered the Democratic frontrunner and there is mounting speculation Bush's brother, former Florida Gov. Jeb Bush, could run on the Republican side.
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How Not To Cry At Work, Win At Office Politics, And Other Great Advice From LinkedIn | ||
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Since LinkedIn opened up its publishing platform in February, the site has seen its users write an average of 40,000 posts per month. The company decided to compile a list of some of the best, most memorable posts it found this year. Here are the ones we thought offer the most helpful career and management advice.    See the rest of the story at Business Insider  | ||
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Xbox One Sales Have Skyrocketed Since The $349 Price Cut (MSFT) | ||
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Since Microsoft announced new bundles and a new $349 price for Xbox One, gamers are eating it up. It is finally selling better than Sony's PlayStation 4, Microsoft says. The company says the first week after the price cuts took effect, US sales more than tripled, and that it's been beating Sony for the past two weeks. Retail orders for the Xbox One will soon hit 10 million units, according to a blog post by Yusuf Mehdi, corporate vice president of Devices and Studios. He writes: The response to this wave of blockbuster game releases and new bundles has been amazing, and sales have skyrocketed since the new price took effect on Nov. 2. Compared to the previous week, Xbox One sales in the US have more than tripled, which is exciting as more and more friends will be playing together this holiday. As we head into the busy holiday season Xbox One led generation 8 console sales in the US for the past two weeks. Shortly, we will have sold in to retailers more than 10 million Xbox One consoles. We can't say we're surprised. Our own Karyne Levy predicted that the Xbox One would outsell the PS4 after Black Friday, thanks to the price cuts and bundles. Sales are also helped by this week's arrival of the newest Xbox One exclusive game, "Halo: The Master Chief Collection." But it's the new Xbox One bundles that are really winning fans. These pair the console with some of the most popular games. For instance, for $349 you can get the "Assassin’s Creed" bundle, which includes a couple of uber popular versions of the game, including "Assassin's Creed Black Flag." And you can add Kinect to the bundle for another $100 ($449). With that, Microsoft will toss in "Dance Central Spotlight" (because everyone knows that pirates love to dance). But, as Levy points out, Sony has a few bundles of its own, like one for "Grand Theft Auto 5." Choices, choices. SEE ALSO: Black Friday Could Be The Day The Xbox One Finally Towers Over The Competition Join the conversation about this story »  | ||
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Comcast Offers A Peek Into How It Wants To Dominate Everyone's Living Room | ||
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At an event in San Francisco on Wednesday, Comcast showed off a bunch of upcoming features that show it's serious about dominating your living room. And perhaps even your life. Among the new features for its Xfinity X1 operating system is what the company calls a "talking guide," which reads aloud menu and navigation information. "Something that I'm really proud of, and that I think is a first for any company in the US and maybe in the world," Comcast CEO Brian Roberts said at the event. "It's taking all that rich guide [information], and making it more accessible." The voice guide was demoed by Tom Wlodkowski, Comcast's VP of audience, who is visually impaired. Not only does it read aloud menu items, network names, TV shows, and even Rotten Tomatoes ratings, but it also guides the user through how to use the controls, like the shape of the button that needs to be pressed. The feature will roll out to customers in the coming weeks on equipment they already have. Another new feature is a voice-activated remote control, which gives the user a more intricate way to navigate through dozens of settings, menus, and TV shows. For example, you could ask it to "show me kids movies on HBO," and a list of movies for children will pop up. You could also ask it to search for specific movies or shows, or even ask it "what should I watch?" and it will give you a list of what's trending or suggestions based on stuff you've watched in the past. Comcast also gave a peek at its integration with IFTTT, which allows people to create simple "recipes" that string together certain actions. Comcast Chief Business Development Officer Sam Schwartz demoed the feature, showing off possible use cases, such as integrating your cable box with your Jawbone wearable to notify you if you haven't reached a fitness goal. As for Comcast's future outside the living room, the company stayed unsurprisingly mum. Comcast opposes the president's plan on how to implement net neutrality, which is to put internet service into the same category as phone calls, essentially turning the internet into a utility. Roberts did express his happiness over the company's possible merger with Time-Warner, saying it's progressing "full steam ahead." "I think we're taking it one day at a time, but I'm excited about Time-Warner Cable," he said. He also didn't count out a possible future partnership with Google Fiber. "We have a relationship with Google, but I think [Google Fiber] demonstrates to me how vibrant the broadband and video marketplace is, and how fast it's changing," Roberts said. Regarding unbundling cable packages, Roberts said that the company is limited by its rights agreements with content providers. But he did give hope to Roku users, who currently cannot watch HBO Go via Comcast on their set-top boxes. "Stay tuned," he said. SEE ALSO: The Weird Reason Why Video Games Are Released On Tuesdays Join the conversation about this story »  | ||
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Cisco CEO: Obama's Plan Will End High Speed Internet As We Know It (CSCO) | ||
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If internet companies can't make money on high speed internet, they aren't going to invest billions to build faster networks, Cisco CEO John Chambers warned when talking to Wall Street analysts on Wednesday. He was telling analysts that President Obama's plan for the internet would be bad news. To recap: Obama wants to categorize the infrastructure that deliver internet services as a "Title II" utility, similar to how telephone utilities operate. This would forbid internet companies from allowing some content (like their own) to travel faster over their wires, while slowing down other content (like their competitors'). That's a concept known as "net neutrality." This counters a proposal put forth by FCC chairman Tom Wheeler, a former telecom lobbyist, which would allow internet providers to charge big internet companies (Google, Netflix, and so on) to guarantee high-speed service for their content. Opponents of Wheeler's plan say that this means only the biggest, wealthiest internet companies could afford to have the best internet service, which would hinder innovative startups. Chambers insists that its Obama's plan that will hurt innovation, because it doesn't motivate ISPs to invest. Service providers are already "struggling big time in certain geographies on how to make money," Chambers said. For instance, AT&T said that its going to reduce its capital expenditure budget, meaning it will spend less on equipment. Chambers said he's talked to AT&T leaders who warned them they will spend even less if Obama's plan gets approved. AT&T said it very publicly, and obviously, I'm very close to [AT&T CEO] Randall Stephenson and [AT&T CFO] John Stephens and [AT&T Mobile CEO] Ralph [de la Vega]. We know that their capex is going to be down by a fair amount this next year regardless. However, it will be down dramatically more if we don't get our act together on this Title II issue. There's a way to accomplish the goals of both sides. I thought Chairman Wheeler's original approach to this was right on, a right compromise in terms of direction. I think it's very important we send a message. You are going to see these service providers slow if not pause completely on broadband build out because if they can't make money on broadband buildout, they aren't going to build it out. It's as simple as that. It's not really that simple. Being a regulated utility doesn't stop a company for charging enough for its services to be profitable, even if restricts them in some ways. For almost a century, our law has recognized that companies who connect you to the world have special obligations not to exploit the monopoly they enjoy over access in and out of your home or business. Still, Chambers has a reason to be concerned. Cisco makes billions of dollars selling equipment to internet service providers. If they don't want to upgrade or expand, Cisco loses. Even if they are just postponing or trimming their their plans, Cisco loses. Some of that is already coming into play, Chambers warned. Cisco's revenues from service providers was down 10% in its last quarter and he blamed, in part, fears over net neutrality.
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Bill Clinton To George W. Bush: Why Aren't You On Twitter? | ||
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President Bill Clinton issued a Twitter challenge to two other former president George W. Bush on Wednesday evening. Update (8:23 p.m.): Bush sent Clinton an incredible reply. Clinton posted a tweet saying he received a copy of "41: A Portrait of My Father," Bush's biography of his dad, former President George H.W. Bush. At the end of the message, he included a hashtag asking the younger Bush why he has not yet joined Twitter: A spokesman for the younger Bush did not immediately respond to a request for comment about Clinton's Twitter challenge. George W. Bush has said he wanted to write the book because he wanted his father, who is 90-years-old, to have a chance to read it while he was still alive. There has recently been mounting speculation the Bush dynasty could eventually include a third president with growing speculation another one of George H.W. Bush's sons, former Florida Gov. Jeb Bush (R), could launch a White House bid in 2016.
Update (7:45 p.m.): This post was updated after President George H.W. Bush's spokesman informed us that he is on Twitter, but his son is not. Join the conversation about this story »  | ||
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People Are Freaking Out Over Twitter's Clunky Description Of Itself (TWTR) | ||
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Twitter unveiled a new statement about what it wants to be, and it's a real head-scratcher. The social media company put out a new strategy statement that reads: Reach the largest daily audience in the world by connecting everyone to their world via our information sharing and distribution platform products and be one of the top revenue generating Internet companies in the world. If you were confused by that statement, you're not alone: But that's not their actual mission statement, according to a Twitter spokesperson: Their actual mission statement, which can be found here, reads: Our mission: To give everyone the power to create and share ideas and information instantly, without barriers. That's hardly eloquent prose, but it's not nearly as awkward as their strategy statement. SEE ALSO: Twitter's Employees Are Deeply Frustrated With The CEO — Here's Why Join the conversation about this story »  | ||
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Here's How Much Taylor Swift Made In One Year From Streaming On Spotify | ||
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Taylor Swift's Spotify payout turns out to be much less than the streaming service led people to believe earlier this week. TIME Magazine reports that Swift earned $2 million from streaming her songs over the past year. That's the global figure Spotify gave TIME — but Swift's record label said the domestic streaming payout from the past year was much lower at $500,000. In comparison, Swift's new album "1989" is expected to net about $12 million in gross sales in its first week. The $2 million figure is also significantly less than the $6 million Spotify CEO Daniel Ek claimed top artists would pull in over the next year. Spotify factored its growth projections into that number, but it still seems a bit far-fetched considering that Swift's label earned only $2 million in the past year from streaming. And that figure doesn't appear to be the amount Swift personally earned for the streaming rights — it's just the amount that was paid to Swift's label Big Machine. Swift has become the center of a discussion over whether Spotify pays artists enough for the rights to stream their music. This issue of artist pay resurfaced last week when Taylor Swift pulled her entire catalogue of music from Spotify after refusing to put her new hit album "1989" on the service. Swift has said that artists need to protect their work and value it appropriately. Part of the problem is that the amount of money Spotify pays labels is greater than what the artists themselves see from allowing their music to be streamed. Last month, Jimmy Buffett complained that artists who streamed their music on Spotify are "at the end of the pipeline" when it comes to the money Spotify pays labels for permission to stream albums. And the money Spotify pays labels, while totaling a reported 70% of the company's revenue, averages less than a penny per play. Jonathan Price, Spotify’s global head of communications and public policy, defended the $2 million figure to TIME: "Our users, both free and paid, have grown by more than 50 percent in the last year, which means that the run rate for artists of every level of popularity keeps climbing. And Taylor just put out a great record, so her popularity has grown too. We paid Taylor’s label and publisher roughly half a million dollars in the month before she took her catalog down — without even having '1989' on our service — and that was only going to go up." Borchetta doesn't believe that Spotify is a boon to the industry. "The facts show that the music industry was much better off before Spotify hit these shores," Borchetta said. "Don’t forget this is for the most successful artist in music today. What about the rest of the artists out there struggling to make a career? Over the last year, what Spotify has paid is the equivalent of less than 50,000 albums sold." About 25% of Spotify's 50 million active users pay for the service. Spotify premium subscribers pay about $120 per year for the service. SEE ALSO: Spotify's CEO defends the streaming service's payout to artists Join the conversation about this story »  | ||
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Amazon's Latest Plan To Make Its Cloud Business Really Huge (AMZN) | ||
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Jeff Bezos believes that Amazon Web Services, the company's cloud which hosts applications, could become its biggest business. Today at the reInvent conference, AWS leader Andy Jassy said that Bezos and the "rest of the leadership team" believe "it is very possible that AWS could be the biggest business at Amazon," TechCrunch reports. Right now, that's far from the case — in Amazon's last earnings report, the "other" segment, which includes AWS, had $1.4 billion in revenues, about 7% of the company's total. While Amazon is by far the dominant player in the space, growth has been slowing this year. And Amazon is facing all sorts of competition including big names like Google, which is making a pretty serious play in cloud computing, and Microsoft, which views its Azure cloud computing platform as vital to its future and is putting a lot of sales and marketing push behind it. Amazon's cloud also competes with IBM, Salesforce, HP, and just about every other big name in tech. So how does Amazon intend to grow its cloud so big when competition means keeping prices low? By pouring on ever more features, making its cloud very difficult to beat. The announcements at reInvent focused entirely on what AWS can do, and will be able to do. There's Aurora, a new kind of hosted database that Amazon claims is ready for big commercial transactions. It's compatible with MySQL, an open source database technology overseen by Oracle, but Amazon says it will cost one-tenth as much. There are also a lot of other nuts and bolts features that will help developers manage the code for their applications more efficiently and improve security. (ZDnet has a good list.) But Amazon was completely silent on price. And that's interesting because Amazon had 45 price cuts in about the past six years, it says. Instead, the company seems to be hoping that more and more customers will move their old applications to Amazon's cloud service, and it's giving them more sophisticated tools to do that. It's a smart move, and one that enterprise leaders have used many time in the past when confronted with low-cost competitors — instead of continuing to treat your product as a commodity with a never-ending price war, you add unique features that competitors are pressed to match. Join the conversation about this story »  | ||
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Neil deGrasse Tyson Explains The End Of 'Interstellar' | ||
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Astrophysicist Neil deGrasse Tyson saw 'Interstellar' and then came by Business Insider to explain what the ending means – and if it's scientifically sound. Produced by Will Wei. Additional camera by Devan Joseph. StarTalk Radio is a podcast and radio program hosted by astrophysicist Neil deGrasse Tyson, where comic co-hosts, guest celebrities, and scientists discuss astronomy, physics, and everything else about life in the universe. Follow StarTalk Radio on Twitter, and watch StarTalk Radio "Behind the Scenes" on YouTube. Follow BI Video: On Facebook Join the conversation about this story »  | ||
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Cisco's CEO Has An Intense Message For His Next CFO (CSCO) | ||
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After 10 years at Cisco, and seven as CFO, Frank Calderoni is stepping down. And CEO John Chambers had something to say to his replacement. Calderoni has been with Cisco through its epic rise to become of the biggest enterprise tech companies in the nation. He oversaw Cisco's very first dividend. He's also been leading it through the last three years of layoffs and reorganization. Often when a CFO leaves, it indicates bad news for the company. But in this case, he's leaving Cisco on a good quarter. The company posted a beat on revenues and profits. Cisco CEO John Chambers jovially thanked Calderoni for his work on the company's quarterly conference call, "In seven years, I’ve lost a lot of hair and yours is gray, Frank," Chambers said.
He said he was about to give her the three best bits advice that he got when he became CEO. And with that, she was introduced to the Wall Street analyst community. SEE ALSO: The 50 Most Powerful People In Enterprise Tech In 2014 Join the conversation about this story »  | ||
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And then he turned to the woman who would be taking Calderoni's place, Kelly Kramer. She's been with Cisco for three years, after 20 years with General Electric. iPad Sales Are Going To Be Demolished In Q1 2015, According To The Most Accurate Apple Analyst In The World (AAPL) | ||
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Apple's iPad sales are going to get crushed in the March quarter of 2015, according to KGI Securities analyst Ming Chi Kuo. In a new report, Kuo forecasts Apple sells 9.8 million iPads in the first calendar quarter of the year. That would be a 40% drop on a year-over-year basis. In his note, picked up at 9to5Mac and Apple Insider, Kuo blames the dramatic decline in iPad sales in 2015 on "a lack of new applications, tablet market saturation, and slow season." For the current holiday quarter, Kuo is forecasting Apple sells 21.5 million iPads, which would be an 18% decline on a year-over-year basis. Kuo is the best Apple analyst in the world. He nails Apple product releases. He's plugged into Apple's supply chain, which likely influences his forecast for the iPad in the next two quarters. If this is an accurate prognostication, it is a stunning demolition of what was once believed to be the next major business line for Apple. It's not going to hurt Apple too badly in the near term because Apple is the iPhone company and iPhones are selling like crazy. But in the big picture, it's not good for Apple because it wants to be a diverse company with many growing business lines. Why has the iPad gone negative? There's no single satisfying answer. It seems to come down to a few things. "People hold onto iPads longer than they do a phone," CEO Tim Cook said on the company's earnings call when asked about iPad sales. "We've only been in this business four years. We don't know what the upgrade cycle will be." He also said that some people might come into Apple's store and choose a Mac instead of an iPad, he's "okay with that." Further, smartphones are getting bigger and bigger screens, thus negating the need for a tablet. SEE ALSO: Apple Should Buy Tesla Join the conversation about this story »  | ||
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The Tech Industry's Gender Gap Problem In One Photo | ||
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Want to get a clear idea of the gender gap in the tech industry? Attend a tech conference. The Wall Street Journal's Greg Bensinger tweeted out a picture of the lines for the bathroom at this year's AWS reInvent conference: Amazon itself just recently released its diversity data, and the numbers paint a pretty homogeneous picture: only 37% of Amazon's employees are women. Join the conversation about this story »  | ||
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REPORT: Apple's 12.9-Inch 'iPad Pro' Has Been Delayed (AAPL) | ||
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The heavily rumored large-screen iPad, sometimes referred to as an "iPad Pro," was initially reported to be launching in the first quarter of 2015. A new report from KGI Securities analyst Ming-Chi Kuo (via Apple Insider) says Apple has faced delays on its 12.9-inch iPad, which will push the launch into the second quarter of 2015. It's important to note that Kuo has a stellar track record when it comes to Apple, which means this is likely more than just a rumor. The tablet's delay reportedly stems from the type of display that Apple intends to use in the tablet, which will utilize newer LCD technologies for faster response times and higher color saturation, according to Kuo. Citing a "time crunch on component production and assembly," Kuo believes the iPad Pro won't enter mass production until the second quarter of 2015, months later than Apple's original plans. SEE ALSO: This Handy Website Shows You Where To Legally Stream Movies And TV Shows Join the conversation about this story »  | ||
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It looks like Apple's 12.9-inch iPad has been delayed. Google Is Using A Super-Cryptic Method To Recruit New Developers | ||
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Google seems to be using a super-cryptic challenge to recruit new developers. The company has created a mysterious page — Google.com/Foobar — that you can only access if you get invited.
How do you get invited? Apparently, by showing an interest and expertise in programming languages like Python through your Google search history, according to commenters on Hacker News. Commenters have reported that searching for terms like "python lambda syntax" and "mutex lock" brings up an invite to compete some challenge questions. Here's what commenter Kyle brown saw after searching mutex lock:
If you say you want to play, Kylebrown says you can request different challenges:
The consensus on the Hacker News message board is that Google has keyword matching for search queries for users who have their search history turned on that will trigger invitation. Developers who elect to go through the challenges, described as "fun puzzles" by one commenter, may get contacted by Google. Business Insider reached out to Google about this recruiting technique and recieved the following response: " import string z=string.ascii_lowercase m=''.join([z[6],z[11],z[7],z[5]]) print(m) " The message? "GLHF," which stands for "Good Luck, Have Fun!" SEE ALSO: China's Richest Man, Jack Ma: I'm Not Happy Being So Rich Join the conversation about this story »  | ||
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Net Neutrality Isn't Doom For The Cable Companies | ||
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Earlier this week, President Obama announced that he would like the FCC to reclassify internet service providers as “common carriers,” which would make them much more like a utility provider under the eyes of the law. Currently, they're classified as “information service” providers, which means they are not held to the high standards for providing access of what's known as a common carrier (like a gas or electric company). For more, see The Oatmeal's cartoon explaining the idea. Here are the main ideas in President Obama's proposal: 1) no blocking as long as the site is legal; 2) no throttling, or intentionally slowing down or speeding up specific content; 3) increased transparency, and 4) no paid prioritization (Netflix or Hulu can't receive either faster or slower service based on whether the company pays a fee to the ISP). What does this mean for the cable companies' business as it currently exists? Shares of companies like Comcast, Time Warner Cable, and Charter Communications all tumbled on the news. However, Morgan Stanley's cable/satellite industry research team doesn't see much pain, largely because not much will change. The President's proposal mostly keeps things as they are, mandating that cable companies can't take steps to slow down the internet. There isn't a lot of evidence that they have really done this yet, other than to Netflix during the beginning of 2014. And even without prioritizing certain traffic the cable companies aren't exactly hurting for revenue. So cable companies will continue to make as much money as they had before, just maybe not a ton more. The real winners of a fast lane on the internet, Morgan Stanley says, would be the Hulus and the Netflixes of the world — companies big enough to be able to pay for prioritization on the web. (These companies, by the way, are publicly against net neutrality.) Here's an excerpt from Morgan Stanley analyst Benjamin Swinburne's research note: ...these specific four asks are extremely benign and would have essentially no impact on the outlook for broadband revenue growth. We believe this to be the case because first, #1-3 are already essentially in place, and second, because we have never expected any material revenue lift from charging for prioritization in our outlook for cable. In fact, the primary beneficiaries of paid prioritization would be scale content providers such as OW rated Netflix and EW rated Google, which have the financial position to pay for prioritized traffic to differentiate versus smaller competitors. Here you can see that Morgan Stanley projects that high speed data (HSD) will continue to become a larger part of the cable companies' profit margins in the years ahead, even without charging for a "high speed" lane on the web.
SEE ALSO: The Great Bourbon Shortage Has Begun, And There's No End In Sight Join the conversation about this story »  | ||
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Here Are All The Phones Confirmed To Get Google's Massive Android Update (GOOG) | ||
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Back in June, Google unveiled what's being called the biggest Android update yet. With Android 5.0, or "Lollipop," Google is adding a bunch of changes that are both physical and internal. One of the biggest alterations will be the introduction of Material Design — a new design language that puts more of an emphasis on shadows and colors. There are a handful of under-the-hood improvements, too, such as Project Volta, which is a collection of backend enhancements meant to improve battery life. But, unlike the iPhone, Android devices don't get major software updates all at the same time. It depends on which type of phone you have and which carrier you're on. There are also tons of Android phones that are left out of major carrier updates too. We still don't know exactly when Android 5.0 will be released for every phone, but here's a roundup of what we know so far. Google's Nexus 6 will come with Android 5.0 already installed, and both the Nexus 4 and Nexus 5 will receive the update, too. Google hasn't announced when it will launch, but rumors suggest Sprint will roll out the update to Nexus 5 owners on its network on Nov. 12. HTCHTC's One M8 and previous-generation One M7 will both get Android 5.0 as well. Jeff Gordon, the company's global online communications manager, tweeted that both phones will get the upgrade within 90 days of the software's final release. HTC provided another update via Twitter on Nov. 3, saying that it has received the final code and will get the update out within the next three months. MotorolaMotorola announced last week that its first- and second-generation Moto X and Moto G will get Android 5.0, along with the Moto G LTE, Moto E, and Droid Ultra, Droid Maxx, and Droid Mini phones. The company also just announced that the second-generation Moto X and both versions of the new Moto G will get the Lollipop update on Nov. 12. SamsungSamsung hasn't made any official announcements regarding updates for its line of smartphones, but rumors suggest the Galaxy S5 will be able to upgrade come December. Samsung also teased an Android Lollipop update for its new Galaxy Note 4 via Twitter. It's likely that Samsung's other popular phones, such as the Galaxy S4 and Galaxy Note 3, will also get the upgrade, but we haven't heard anything just yet. Blog Sam Mobile claims to have gotten its hands on a Galaxy S4 and a Galaxy S5 running Lollipop, hinting that the update may be close to launch. In the video, you'll notice how some of the stock apps such as the messaging app look more colorful. LGLG has just announced that its G3 smartphone will receive the update to Android 5.0 Lollipop this week. The rollout will start in Poland and then spread to other key markets. Rumors from tech blogs also suggest that the G2 will receieve the upgrade in early 2015. We'll update this story as more carriers and manufacturers make announcements. | ||
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Two Workers Are Suing A Cleaning Startup Called Handy Over Alleged Labor Violations | ||
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Handy, the startup that provides on-demand house cleaning and home repair services, is being sued over a number of alleged labor violations, Valleywag reported Wednesday. The proposed class-action lawsuit was filed by two of Handy's California-based independent contractors. The workers allege that Handy — just one of many companies like Lyft, Uber, and Postmates that hire independent contractors instead of employees — is deliberately misclassifying its employees as independent contractors. The difference between the two, according to the IRS, is that for common-law employees, employers "must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid." The same is not necessarily true for an independent contractor. In addition, benefits are often extended to employees but not independent contractors, and employers have the right to control how a worker behaves — how to dress, for example, or specific customer interaction protocol — when they're an employee and not an independent contractor. You have more labor protections when you're an employee. As Valleywag's Kevin Montgomery points out, Handy has extremely specific requirements for its workers, which may indicate that Handy workers should be classified as employees instead of independent contractors. The lawsuit alleges that Handy requires its cleaners to wear uniforms, tells its cleaners specifically how to interact with the customer at all times, and tells cleaners when they can use the bathroom in a home they're cleaning or listen to music. The lawsuit also alleges Handy has refused its cleaners minimum wages, meal and rest periods, and overtime pay. Each of Handy's California-based cleaners could be awarded up to $4,000, if the lawsuit is settled in favor of the cleaners. Handy was known as Handybook until September, when it rebranded to become a startup focused on home services. The company has raised $45.7 million from investors like BoxGroup, General Catalyst Partners, David Tisch, Highland Capital Partners, and Revolution LLC. These are the labor violations the two Handy cleaners allege the company has committed:
We have reached out to Handy for comment, and will update this post if the company responds. The full lawsuit is below, courtesy of Valleywag: SEE ALSO: I Moved To San Francisco — And Now I Have Apps Doing Everything For Me Join the conversation about this story »  | ||
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Business Insider Is Hiring Paid Interns For Its Strategy And Careers Sections | ||
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Business Insider is looking for paid interns to work on our Strategy and Careers sections. BI Interns spend their time researching, writing, pitching, and producing stories, and they get an author byline for every post they write. They also help editors find irresistible stories from our partners — including The Atlantic, Slate, Inc., and Entrepreneur — to share with our readers. We're looking for people who are ambitious, smart, funny, fast, and consume huge amounts of digital media. You should be comfortable working on multiple stories per day and building your own audience and personal brand through social media. Ideal candidates will be insatiably curious about the psychology of success, how to get ahead in your career, how women can have it all, whether college is worth it, the management science behind companies like Google and Facebook, and the habits of rock-star businesspeople like Warren Buffett and Sara Blakely. When it comes to qualifications, a journalism background and experience writing for a news site always helps, as do copy-editing skills and light HTML and Photoshop experience. Knowledge of social media and previous writing experience are both useful, too. APPLY HERE with a resume and cover letter if interested, and specify why you're interested in working on Strategy and Careers. Please note that this internship requires that you work in our Manhattan office. The internship term runs for approximately six months, with some flexibility on start and end dates. Interns are encouraged to work full-time (40 hours a week) if their schedule allows. Join the conversation about this story »  | ||
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Cisco Beats On Revenue And Profits, CFO Steps Down (CSCO) | ||
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Cisco reported earnings on Wednesday and it's a beat on revenue and profits. It reported non-GAAP EPS of $0.54 which beat expectations by 1 cent. It reported revenues of $12.24 billion (up 1.3% year over year) which also beat expectations. Cisco Systems was expected to report $12.16 billion in revenue and EPS of $0.53. The stock was up immediately after the report, but leveled off after middling guidance on the earnings call. The company now expects $0.50 to $0.52 EPS in its next quarter. Analysts were looking $0.53. Cisco now projects revenue will grow 4% to 7% in its next quarter. Analysts were looking for 8.40% growth. Cisco also announced that its CFO Frank Calderoni is leaving at the end of the year. Cisco is promoting Kelly Kramer to the role. She's currently senior vice president, Business Technology and Operations Finance of Cisco. Here's the press release. Cisco Reports First Quarter Earnings Wed November 12, 2014 4:05 PM|Marketwire | About: CSCO SAN JOSE, CA -- (Marketwired) -- 11/12/14 -- Cisco (CSCO)
Cisco, the worldwide leader in networking that transforms how people connect, communicate and collaborate, today reported its first quarter results for the period ended October 25, 2014. Cisco reported first quarter revenue of $12.2 billion, net income on a generally accepted accounting principles (GAAP) basis of $1.8 billion or $0.35 per share, and non-GAAP net income of $2.8 billion or $0.54 per share. "We are pleased with our results and are very comfortable in our strategy to deliver innovative solutions which enable the next generation of IT and the Internet of Everything. This was our strongest Q1 ever in terms of revenue, non-GAAP operating income, and non-GAAP EPS," stated Cisco chairman and CEO John Chambers. "We continue to make progress towards becoming the #1 IT company in the world. We are still in a tough environment, but seeing encouraging trends as cities, businesses, governments and schools are becoming more digitized. Our solutions continue to drive positive outcomes and enable productivity through the combination of collaboration, mobility, security and efficiency across our customers' businesses." GAAP Results Q1 2015 Q1 2014 Vs. Q1 2014 -------------- -------------- ----------- Revenue $ 12.2 billion $ 12.1 billion 1.3% Net Income $ 1.8 billion $ 2.0 billion (8.4)% Earnings per Share $ 0.35 $ 0.37 (5.4)% Non-GAAP Results Q1 2015 Q1 2014 Vs. Q1 2014 -------------- -------------- ----------- Net Income $ 2.8 billion $ 2.9 billion (2.3)% Earnings per Share $ 0.54 $ 0.53 1.9% A reconciliation between net income on a GAAP basis and non-GAAP net income is provided in the table following the Consolidated Statements of Operations. Cisco will discuss first quarter results and business outlook on a conference call and webcast at 1:30 p.m. Pacific Time today. Call information and related charts are available at http://investor.cisco.com. CFO Transition Cash and Cash Equivalents and Investments
Dividends and Stock Repurchase Program
"We had a solid quarter delivering results for Q1 consistent with our expectations," stated Frank Calderoni, Cisco executive vice president and chief financial officer. "Our strong cash flow, balance sheet, and ongoing commitment to return capital to shareholders demonstrates the strength of our financial strategy." Internet of Everything
Fast IT
Innovation
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Elon Musk Sent These Threatening Emails To Tesla When He Wasn't Getting Enough Press Attention | ||
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Today, Elon Musk is one of the most-covered figures in business — a Google News search of his name prompts over 30,000 results. But he wasn't always such a media darling. At one point, the lack of attention made him feel "incredibly insulted," as evidenced by emails he sent to Tesla employees in 2006. Musk was so affected by the lack of recognition that he threatened to fire a senior member of the Tesla team if he didn't get him more press. To understand why he was so upset, let's go back in time. In the mid 2000s, the acquisition of PayPal made Musk ridiculously wealthy. He founded SpaceX and also started investing, most notably leading the 2004 Series A round for electric car company Tesla Motors, founded by Martin Eberhard and Marc Tarpenning. Musk came on as chairman of the board. The company stayed in stealth mode until 2006. That July, it came out of hiding. Tesla invited some 350 high-status people to a debut party for the Tesla Roadster in an aircraft hangar in Santa Monica, California. Michael Eisner, Ed Begley Jr, and then-governor of California Arnold Schwarzenegger all came out to take a test drive in a prototype of the Tesla Roadster, the high-performance electric car that would become the startup automaker's flagship vehicle. Back then, Eberhard was the face of the company, and he did dozens of interviews at the Roadster reveal. As we detail in our investigative feature about Tesla's early days, all the attention paid to the then-CEO made Musk feel overlooked. You can see it in the emails Musk sent to members of the Tesla team, pasted from court documents below. In a July 18, 2006, email to Mike Harrigan, who was effectively coordinating Tesla's press at the time, Musk wrote that he would "like to talk with every major publication within reason." He continued: The way that my role as been portrayed to date, where I am referred to merely as "an early investor" is outrageous. That would be like Martin [Eberhard] being called an "early employee." Apart from me leading the Series A & B and co-leading the Series C, my influence on the car itself runs from the headlights to the styling to the door sill to the trunk, and my strong interest in electric transport predates Tesla by a decade. Martin should certainly be the front and center guy, but the portrayal of my role to date has been incredibly insulting. I'm not blaming you or others at Tesla — the media is difficult to control. However, we need to make a serious effort to correct this perception. Two days later, the New York Times published its report of the Tesla debut party, which in its original form referred to Eberhard as the chairman of the company and left Musk out entirely. To say Musk felt overlooked is an understatement. "I was incredibly insulted and embarrassed by the NY Times article" — he wrote in an email cc'd to Eberhard and Harrigan on July 20, 2006 — "where I am not merely unmentioned, but where Martin is actually referred to as the chairman. If anything like this happens again, please consider the PCGC [public relations firm] relationship with Tesla to end immediately upon publication of such a piece. Please ensure that the NYT publishes a correction as soon as possible." While Musk and Eberhard had bumped heads about product design before, Eberhard remembers that as the first time Musk grew so emotional about an issue. Shortly after the debut party, Musk took Harrigan aside and made it clear to him that if he wanted to keep his job, he needed to get Musk some media attention. These tensions would give rise to the Tesla Roadster — and the growth of Elon Musk. Here are those emails:
Ultimately, Musk got his wish: After Tesla churned through Eberhard and two other CEOs, he became the face of the company. And now you can see his face everywhere. For more from the early days of Tesla, read our investigative feature. SEE ALSO: The Making Of Tesla: Invention, Betrayal, And The Birth Of The Roadster Join the conversation about this story »  | ||
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In One Word, Here's Why Microsoft Should Copy Amazon's Echo (MSFT) | ||
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Amazon last week surprised everyone with the Echo, a 9-inch cylinder that's more or less a voice-activated speaker.
Wherever you are in the room, you can ask Amazon Echo to play music, answer questions, check the weather, set alarms, and even manage your various to-do and grocery lists. It’s like Siri, at least in terms of functionality. Except this stays plugged in, it’s always on, and it doesn’t need you to press a button to activate it or ask it a question.
Knowing how the tech world works, we’ll likely see Amazon Echo clones in the near future. But the one company that should be keen to jump on this trend quickly is Microsoft.
There are plenty of voice assistants out there, but Cortana had a reputation long before Microsoft decided to relegate her to Windows Phones. In the bestselling "Halo" series, Cortana is the holographic, anthropomorphic artificial intelligence hologram who helps guide you through the games. In “Halo,” when she’s not inside Master Chief’s helmet, Cortana appears on small physical platforms; she doesn’t walk around, but she is still pretty animated. It would be great to see Microsoft take this idea of Cortana to the next level by putting holograms in people’s homes.
Holograms are already out there — and they're usually much bigger than a "Cortana for the home" would be. Some airports have AVA, the holographic virtual assistant who helps direct people to various terminals and destinations within the airport. And at the Coachella music festival in 2012, a moving hologram of late rapper Tupac Shakur appeared on stage.
Like Amazon Echo, Cortana could be remain in sleep mode until you need her — you could call her by name, and she’d instantly wake up. And unlike Amazon Echo, where you’d need to see if the LED light on the top of the cylinder is lit, it would be obvious if Cortana were awake since there’d be a small standing hologram in your living room.
The Amazon Echo is a cool idea, but it's also very simple. By adding holograms (see: a cool new technology associated with science fiction) and a character millions of people are already familiar with through "Halo," Microsoft could have a direct line into people's homes, and into their lives. Join the conversation about this story »  | ||
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How Google Inadvertently Crushed A Privacy Startup (GOOG) | ||
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If you don't want the NSA to know anything about you, that's tough. If you don't want Google to know anything about you, that's also tough. The makers of the Epic Privacy Browser, a browser that protects your identity by sharing almost nothing about you with the Internet, thought they had figured out how serve up privacy while also making money on their app by selling ads. And it was going great until Google made some technical changes to how it collects information about people and basically killed their business model. Your Info Is Worth MoneyThe crux of the situation is this: Google, Yahoo, Microsoft, Facebook and many others make money by selling advertising. The more they know about you, the more they can match you to an advertiser who thinks you are an ideal customer. Advertisers are naturally willing to pay more for ads that are served to ideal potential customers. For instance, financial services companies want to target affluent people. Children's clothing makers want to target parents. Google uses a lot of sophisticated methods to learn about you. There's the stuff you tell Google outright when you sign up for its services like Gmail and Google Maps, or via an Android phone, like your name, phone number, location, and so on. But even if you don't sign up for Google's services, the search giant can deduce a lot about you by watching the websites you've visited (like your gender and your age bracket) and knowing your location. Some information about you, including the city where you're located and which device you're using, can be revealed through your IP address. An IP address is how the Internet knows where to deliver the web page you requested. It's a necessary part of using the Internet just like a street addresses is a necessary part of delivering mail. It is possible to hide everything, even your IP address, from Google. You can use a privacy browser like Epic or Tor that won't let Google or others track you. The problem is, there's no great business model for those providing the privacy service. There's not a lot of money to be made on customers who want to hide from advertisers. Tor, for instance, gives its browser away for free and asks people to make a donation. For A While, Everyone Was Happy
Epic worked with a company called Blucora, a Google partner that sells search service to other businesses, known as a "white label" search. This is a way for businesses to integrate Google's services into their own websites and apps. People don't know they are using Google, or Yahoo, or Bing, they just get the search results. Working with Blucora, Epic arranged to serve Google's ads to its browser users by revealing a tiny part of their IP address — a general location. Blucora "masked" the portion of the IP address that indicated an exact Internet Service Provider or a precise device. Epic earned a portion of the income of for the ads it served. "An advertiser will pay a certain amount for click from Washington D.C. and a very different amount for a click from Turkey or Bangalore," Epic founder Alok Bhardwaj told us. "To get these search ads, we needed to send Google our users' IP addresses. They needed to know what your location is." There were other requirements involved. Google doesn't allow its name to be used by white label search customers. It doesn't want these business to say that search results came from Google, or to somehow indicate that Google endorses them. Epic had to agree not to use Google's name on its website in any way. It wasn't even allowed to use the word "Google" in a headline from a news story that it linked to from its website. In any case, the agreement went forward and Epic was making money until earlier this year. Then Google made some technical changes to its AdSense for Search service. Google Changes Its Technology
Google started requiring all of its white label search partners send Google the full IP address of their customers. Period. This rule was because Google added new technology to detect fraud, the spokesperson said. A masked IP address, where the IP address is hidden, often indicates a fraudster, she said. Click fraud, where hackers user robots to click on ads hosted on their web pages, cost marketers $11.6 billion in 2013, the advertising industry says. So Google now scouts for masked IP addresses and will not serve ads unless it is given the full IP address. Epic asked if Google would make an exception for the Epic privacy browser. Google refused. And Epic has refused to give Google its users' IP addresses, having promised its users that it won't. So Google will no longer share ads with Epic. Because all of the big Internet search companies make money by serving similar targeted ads, Bhardwaj can't find another search ad partner to take Google's place. Unless he figures something else out to support his browser, he's hosed. In the meantime, he wants people to understand how difficult it is to maintain privacy on the web. "Google, Microsoft, and Yahoo, everyone says one thing about privacy and does something else. They want to track people," he says. Privacy OptionsWhen we asked Google how someone might use Google's services while maintaining privacy, Google sent us to its Ads Settings page, where people can opt out of interest-based ads. This won't stop the whole Internet from tacking you, as a privacy browser tries to do, but it will limit the info that Google gives to marketeers. Bhardwaj has filed an official complaint with the Federal Trade Commission, asking for regulatory oversight over how Google treats ads served through competing browsers. In the meantime, the Epic browser is still currently available for you to download. As are a few others, like Tor. We reached out to Blucora to ask about the situation and a spokesperson declined, telling us, "Given our longstanding relationship with Google we allow them to comment directly about their services." SEE ALSO: The 50 Most Powerful People In Enterprise Tech In 2014 Join the conversation about this story »  | ||
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Epic thought it had a workaround for a business model that made everybody happy.
The changes to AdSense for Search included a lot of things, a spokesperson told us. But one change impacted Epic. Obama warns Myanmar's celebrated reforms going backwards | ||
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Naypyidaw (Myanmar) (AFP) - US President Barack Obama told Myanmar's rulers its celebrated democratic reforms are backsliding, ahead of a regional summit Thursday designed to showcase the country's transition from army-led isolation. Obama will meet his Myanmar counterpart Thein Sein -- a former general turned reformer -- on the sidelines of the East Asia Summit in the Myanmar capital of Naypyidaw, as well as other Southeast Asian leaders. Obama set the tone for his meeting with hard-hitting comments on the pace of reforms in an interview with Myanmar news website The Irrawaddy published just before he arrived on Wednesday night. "Progress has not come as fast as many had hoped when the transition began four years ago. In some areas there has been a slowdown in reforms, and even some steps backward," he said. "In addition to restrictions on freedom of the press, we continue to see violations of basic human rights and abuses in the country's ethnic areas, including reports of extrajudicial killings, rape and forced labour." Obama will on Friday offer a show of support to Myanmar's famed democracy heroine and fellow Nobel laureate, Aung San Suu Kyi, travelling to meet her in the commercial hub of Yangon. Suu Kyi had preceded Obama's trip with her own warning against "over-optimism" about democracy in Myanmar, as the nation heads for crucial general elections next year. Obama has framed Myanmar's reform process, which began in 2011 when Thein Sein took the helm of a quasi-civilian government, as an example of the positive effects of Washington's engagement. His administration has in recent years made a major foreign policy "pivot" towards Asia and -- until now -- Myanmar's baby-steps towards democracy have been trumpeted as a success for that strategy. Myanmar saw the removal of most Western sanctions as it released the majority of political prisoners and loosened draconian press censorship, allowing a flurry of investor interest in the country seen as an exciting virgin market. In an effort to encourage the reforms, Obama became the first sitting US president to visit Myanmar in 2012, when he also met Suu Kyi in Yangon.
-- Alarm over rights --
But the country, which was stifled under military rule for almost half a century, has faced increasingly frequent accusations that its ambitious transition is stuttering. Activists have sounded the alarm over prosecutions of protesters and journalists, while one reporter was shot and killed by the military last month in a volatile border area. International concern is also focused on the plight of Muslim Rohingya minority trapped in desperate camps in western Rakhine State as a result of waves of bloodshed with local Buddhists two years ago. United Nations Secretary-General Ban Ki-moon on Wednesday raised the "serious humanitarian issue" of Myanmar's Rohingya -- around 140,000 of whom languish in fetid displacement camps -- with the country's leaders. "I encouraged the leaders of Myanmar to uphold human rights, take a strong stance against incitement and ensure humanitarian access to Rohingya living in vulnerable conditions," he told reporters in Naypyidaw. Meanwhile, Suu Kyi is campaigning to change the junta-era constitution which currently bars her from the presidency, even if her party is successful in the polls, and earmarks a quarter of the legislature for unelected soldiers. The concerns have overshadowed what Myanmar's government had hoped would be a celebration of the nation's democratic achievements at Naypyidaw this week as it welcomed its biggest gathering of world leaders since the reforms began. Thein Sein hosted the heads of the other nine members of the Association of Southeast Asian Nations (ASEAN) bloc for an annual summit on Wednesday. ASEAN was then joined by Obama and leaders from Japan, China, India, Australia, China, Russia, South Korea and New Zealand for the East Asia summit on Thursday. Obama is in the midst of a hectic Asia-Pacific tour that started in Beijing for the Asia Pacific Economic Cooperation summit, during which he announced a surprise climate deal with Chinese President Xi Jinping. He will travel to Australia on Friday for the G20 summit. Join the conversation about this story »  | ||
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10 Things You Need To Know Before European Markets Open | ||
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Good morning! Here are some of the major news stories moving markets ahead of the market opening in London. A Senior Japanese Lawmaker Says Prime Minister Shinzo Abe Has Decided To Call An Election. "It looks like Shinzo Abe has finally made up his mind and it's fair to consider that he decided to go to the people," said Tadamori Oshima, a former deputy chief of Abe's party. The Saudi Oil Minister Seems Comfortable With Lower Prices. Minister Ali Al-Naimi denied that the OPEC cartel nations were engaged in a price war, saying that the market set prices, according to the Financial Times. German Inflation Came In As Expected. Prices rose by 0.8% in the year to October, with more European inflation data out later this morning. India And The United States Have Resolved Some Of Their Trade Differences. Washington and New Delhi said Thursday they have resolved a row over Indian food subsidies that blocked a key WTO trade agreement earlier this year. Hasbro Is Reportedly In Talks About Buying Dreamworks Animation. Deadline reports that DreamWorks and Hasbro are in talks to create a combined family entertainment company that would be called DreamWorks-Hasbro, and says the deal is at least 60 days away from being finalised. Sony Just Unveiled Web-Based Service Playstation Vue. The new cloud-based TV service, PlayStation Vue, is expected to be commercially launched during the first quarter of 2015. The web-based television service allows users to access live TV and on-demand content without a cable or satellite service, the company said. China Is Set To Lift Its Aid to Pacific Nations. Chinese President Xi Jinping will offer a broad aid package to Pacific island nations at a summit in Fiji next week, a foreign ministry official said on Thursday, adding that there was also room to work with six island states not invited because of ties to Taiwan. It's A Quiet Day For Data. Confirmations of inflation in Spain, France and Italy are out before 9 a.m. GMT, and US initial jobless numbers are out at 1.30 p.m. GMT, with economists expecting 280,000 applications for unemployment assistance in the week to November 7. Asian Markets Rallied. The Nikkei closed up 1.14% in trading today and Hong Kong's Hang Seng is currently up 0.27% Keystone Pipeline May Finally Pass US Congress Next Week. The US Congress will vote in coming days on approving construction of the much-delayed Keystone XL oil pipeline, a project Republicans claim is step one in their plan for enhanced US energy production. Join the conversation about this story »  | ||
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Catholic flock thinning in Latin America | ||
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Washington (AFP) - Although Argentine-born Pope Francis is largely popular in Latin America, the number of adults in the region who describe themselves as Catholic is falling, says a study published Thursday. In a study of 18 countries in Latin America and the Caribbean as well as the US territory of Puerto Rico, the Pew Research Center said the Roman Catholic church is losing adherents to Protestant faiths or seeing them abandon organized religion altogether. The study said that historical data suggest that from 1900 through the 1960s at least 90 percent of Latin America’s population was Catholic. But today 69 percent of adults polled identified themselves as Catholic, the study said. Latin America has more than 425 million Catholics, who account for nearly 40 percent of the world's Catholic population, the center said. But the number of people switching to other religions, mainly Protestant churches, is on the rise. According to the report, 84 percent of today's Latin American adults say they were raised as Catholics. That is 15 percentage points more than those who still call themselves Catholic. At the same time, membership of Protestant churches and people who say they are not affiliated with any church are increasing. Nine percent of Latin Americans say they were raised as Protestants, but almost one in five now call themselves Protestants. "In nearly every country surveyed, the Catholic Church has experienced net losses from religious switching, as many Latin Americans have joined evangelical Protestant churches or rejected organized religion altogether," the study said. As to why Catholics are leaving the church, Pew said that of eight answers available in the poll, the most frequently chosen was that people were "seeking a more personal connection with God." The study said that in general Latin America has embraced the former Argentine Cardinal Jorge Mario Bergoglio, a Jesuit who was elected pope in March 2013 and took the name Francis. In his native country, 91 percent of those polled have a favorable view of the pontiff. But that support is uneven across the region. "Among former Catholics, relatively few give the pope a positive rating, with many saying it is too soon to rate him," the study said. "Similarly, while majorities of Catholics in most countries describe the election of Francis as representing a major change for the Catholic Church, this view is held by much smaller shares of former Catholics," it added. Join the conversation about this story »  | ||
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German Inflation Holds At 0.8% | ||
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Germany's consumer price index officially came in at 0.8% on the second estimate, as expected. Prices were down 0.3% from September to October. We've got the second readings of inflation for France, Spain and Italy to follow Thursday morning, looking out for any signs of higher or lower price pressure than the first estimates showed. Just as a reminder, here's how the situation stands at the moment in Europe: inflation is down to very nearly zero.
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Johnson, Steyn face off in battle of lethal fast bowlers | ||
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Perth (Australia) (AFP) - Lethal fast bowlers Mitchell Johnson and Dale Steyn will spearhead the attacks as Australia and South Africa renew hostilities in a five-match one-day series opening in Perth on Friday. Johnson and Steyn are world cricket's most lethal speedsters and will look to create mayhem on an expected lively WACA pitch in the first of two ODIs in the Western Australia capital. No love is lost between the two cricket nations who are just shaded in the ODI rankings by India, with South Africa ahead of Australia by a single ranking point. The series comes just three months before the ICC Cricket World Cup in Australia and New Zealand with the Proteas looking for another psychological edge over the Australians after beating them twice in Zimbabwe in August-September. "There's always tension between the two sides," Johnson said. "It's probably going to be fiery again. There's a lot of history there. "Both teams don't like to lose and you see that fire in the belly. A lot of the guys will talk after the game... but I think hate is too strong a word." Johnson showed his menacing streak ahead of Friday's first ODI when he struck team-mate Steve Smith a painful blow on a finger in the nets. Johnson is in line for a rare double as cricketer of the year after a shortlist of nominees was announced by the ICC last week. During the voting period of August 26, 2013 and September 17, 2014, the 2009 winner Johnson claimed 59 wickets in eight Tests at an impressive average of 15.23.
While Steyn is the tourists' key attack, Faf Du Plessis has an outstanding record with the bat against Australia with scores of 106, 126 and 96 during South Africa's recent triangular series win in Zimbabwe. Du Plessis, 30, realises that to continue his stunning form he'll have to do it with a target on his back. "You can see they've got plans when you come out to bat, where they try to get you out," du Plessis said. "But in the same way, I plan for what they plan. So it's just trying to be smart and thinking on your feet." Coach Russell Domingo, who has overseen South Africa winning 10 of their last 11 ODIs, is preparing for a feisty series. "We expect the Australians to play a hard brand of cricket, that’s the way they play their cricket and it's not something we are too concerned about," Domingo said. "We want to focus on how we carry ourselves and how we conduct ourselves on the field; we will try and do that in the best way possible." Australia skipper Michael Clarke heads into the series averaging just 14.25 during the recent two-Test series against Pakistan in the United Arab Emirates, leading some to question his captaincy. But team-mate George Bailey said it is wrong to criticise Clarke given his strong overall record as a captain, which includes a 5-0 Ashes win over England and a Test series victory away to South Africa. "If you look at his record it speaks for itself," Bailey said. "It's obviously a position people care a lot about. The Australian cricket team means a lot to a lot of people. "But I'll back Pup (Clarke) to the hilt in terms of his performance and what he's done." After the two ODIs in Perth, the series heads to Canberra, Melbourne and Sydney. Join the conversation about this story »  | ||
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Horwill back for Wallabies against France | ||
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Paris (AFP) - Former captain James Horwill returned to the Wallabies' starting line-up on Thursday in the only change in the team to play France in Paris this weekend. Horwill, a reserve last week, replaced lock Sam Carter in the team which beat Wales 33-28 at Cardiff's Millennium Stadium on Saturday. The French Test at the Stade de France will be the third of the Wallabies' five-match European tour this month. Tight-head Sekope Kepu will play his 50th Test for Australia and become just the sixth prop in Australian rugby history to reach the milestone. Kepu, 28, is in his seventh year of Test rugby after making his debut against Italy in 2008. "Sekope has been a great player for Australian rugby over a long period of time and I congratulate him on this very special milestone," coach Michael Cheika said. "He has proudly represented the Wallabies for seven years and the experience he now brings to this team is invaluable. "He still has plenty of improvement in his game and I’m confident his best years of Rugby are ahead of him." Cheika said he has yet to confirm the Wallabies reserves bench and it will be announced in the lead-up to the match. Cheika said he was expecting a vastly different French team to the one Australia swept 3-0 during the June Test series at home. "The French have a completely different mindset when they are playing at home, as well as some exciting new players in their squad, and we are under no illusions as to the intensity they are going to bring to the game," Cheika said. "For us, it is still early days and we are getting used to a new system in attack and defence. "I was happy with the first steps we took against Wales, but the challenge for us this week was to ensure that we raised the bar much higher in terms of our accuracy and intensity at training."
Australia (15-1) - Israel Folau; Adam Ashley-Cooper, Tevita Kuridrani, Christian Leali'ifano, Joe Tomane; Bernard Foley, Nick Phipps; Ben McCalman, Michael Hooper (capt), Sean McMahon; Rob Simmons, James Horwill; Sekope Kepu, Saia Fainga'a, James Slipper Reserves: To be confirmed Join the conversation about this story »  | ||
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India, US resolve food row stalling WTO pact | ||
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New Delhi (AFP) - Washington and New Delhi said Thursday they have resolved a row over Indian food subsidies that blocked a key WTO trade agreement earlier this year. India had refused to endorse the landmark Trade Facilitation Agreement (TFA) in July unless its food stockpiles were exempted from possible punitive measures. "The United States and India reached agreement today on a set of measures intended to break the impasse in the work of the World Trade Organization (WTO) to implement the agreements reached last December," said a US government statement. The two countries agreed that India's food security programmes would not be challenged under WTO rules "until a permanent solution regarding this issue has been agreed and adopted," it said. India's Commerce Minister Nirmala Sitharaman tweeted that India and the US had "successfully resolved their impasse over food security issues in #WTO". "WTO General Council will receive India's proposal and US will support us," she said. India's new Prime Minister Narendra Modi discussed the issue with US President Barack Obama when he visited Washington in September, raising hopes of a breakthrough. India's decision in July to hold up the landmark deal to reduce trade barriers surprised fellow WTO members, all of whom had agreed at a December, 2013 meeting in Bali to implement the pact. India and its developing-world supporters say food stockpiling is essential to ensure poor farmers and consumers survive in the cut-throat world of business. But stockpiling and subsidies for the poor are considered trade-distorting under existing WTO rules. Western countries, led by the United States, have raised concerns that such stocks could leak onto global markets, skewing trade. At the time of the Bali accord, WTO members agreed on a four-year "peace clause" to protect India from being punished over subsidies and stockpiles until a "permanent" solution" was reached. The agreement was due to take effect in mid-2015. But after the Bali pact, Indian officials complained there were nearly two dozen meetings on the trade facilitation pact and just a handful on subsidies. Join the conversation about this story »  | ||
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The Man Who Says He Shot Bin Laden Told His Story To A Room Full Of 9/11 Families | ||
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Fox News aired the second half of their exclusive two-part documentary "The Man Who Killed Osama Bin Laden" on Wednesday evening. It concluded with footage showing former Navy SEAL Robert O'Neill meeting with families of people who were killed in the September 11th attacks earlier this year. O'Neill has said that is the moment he decided to go public and Business Insider published the story behind that day last Thursday. Former Navy SEAL Robert O'Neill has said he decided to reveal himself as the man who shot and killed Al Qaeda founder Osama Bin Laden after sharing his story of the 2011 raid on the terrorist leader's compound with a group of people at the 9/11 Memorial Museum earlier this year. Rep. Carolyn Maloney (D-New York) was in the room with O'Neill that day. The congresswoman, who describes O'Neill as "a friend," told Business Insider on Thursday that the ex-SEAL was there for a ceremony marking the donation of a shirt he wore during the raid to the museum. Maloney, who said she helped arrange for O'Neill's shirt to be exhibited at the museum, said the people in attendance included families of people who died in the Sept. 11, 2001, attacks and "leaders" from police and fire departments. "People were in tears, and the room was not that big," Maloney recounted. "I'd say it was 30 people … maybe 30 people. It was a selective group, and I asked to have a ceremony for the donation of the shirt. And we came in and had the quiet ceremony, and it meant a lot." O'Neill first publicly said he was the person who fired the shot that killed Bin Laden in an interview with The Washington Post that was published Thursday. However, in the wake of that story, Reuters released a report about an anonymous source "close to another SEAL team member" who disputed the claim O'Neill killed Bin Laden. The Washington Post article was not supposed to be O'Neill's public debut. He had been planning to reveal himself in a Fox News documentary and a story in the newspaper later this month. However, on Monday, the website SOFREP identified him. O'Neill told The Post he "spontaneously" decided to share his story at the 9/11 Memorial Museum. "The families told me it helped bring them some closure," O'Neill said. O'Neill's shirt is adorned with an American flag patch. Rather than the traditional red, white, and blue, it is black to aid in camouflage for nighttime missions. According to Maloney, the shirt ceremony took place in a family room at the museum where the family members had "pictures of their lost loved ones."
Maloney told Business Insider that, in her many years working with the relatives of people who were killed in the Sept. 11 attacks, she had never seen them react as they did after hearing O'Neill's story. "We were in numerous meetings, numerous press conferences — I've never seen an emotional response as I saw in that room," Maloney said. "I saw men and women just break down crying. It was closure to them. It was important to them to see him, to really hear in his own words why it was important for him to go on that mission."
Maloney cosponsored legislation designed to provide healthcare and monitoring for 9/11 responders in 2006. It was named the James Zadroga Act. She said that of the family members in attendance at the ceremony, Joseph Zadroga's reaction to O'Neill stood out for her. "It meant the world to them. It meant the world to hear what it was like. Many people were crying," Maloney said. "I mean, I can't tell you what a tough guy James Zadroga's father is. He's a police officer, great big strong man, and he was in absolute tears." Maloney also stressed that other residents of New York were intensely interested in the circumstances of Bin Laden's death. "You could hear a collective sigh of relief from all of New York when Bin Laden was killed," Maloney said. "We are grateful to the Navy SEALs, and to the CIA, and to all the military that are part of training these incredible people. The people that I am privileged to represent, they wanted to know what happened to Bin Laden." Though O'Neill identified himself as the person who fired the shot that killed the Al Qaeda leader, Maloney felt he never attempted to take individual credit for the operation. "He never talks about this incident except with we — we on the team," Maloney said. "When he gave the shirt, he gave it in the name of the entire team. He's really into giving credit to his distinguished allies." Still, Maloney said the raid ended in a direct confrontation between two men: O'Neill and Bin Laden. "I think that the last person Bin Laden saw was looking into Robert O'Neill's eyes, and he saw that flag on his shirt — he saw the American flag," Maloney said. "He looked into his eyes. He's the last person he saw. He's an American hero." Join the conversation about this story »  | ||
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"I was very active on the 9/11 response; I authored a great number of bills working in a bipartisan way to make America safer after 9/11, did a lot of work with the 9/11 families that lost their loved ones, and I arranged for him to come and speak to some of them," Maloney said. "I'd like for him to do more of that now that he came out in public. I think that he would help bring closure to many of them and, you know, that's the reason we were over there, the reason he went on the mission was for the 9/11 families."
Joseph Zadroga was one of the people Maloney said was in attendance at the ceremony. His son, James Zadroga, was a New York City police officer. James died of respiratory disease in 2006 and became the first officer whose death was attributed to exposure to chemicals while working at the site of the Sept. 11 attacks in Manhattan. The Navy SEAL Who Says He Shot Bin Laden Responds To People Who Say He's Lying | ||
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Robert O'Neill, the former Navy SEAL who says he shot Osama Bin Laden, has an answer for his critics. In the second half of his exclusive interview with Fox News, which was broadcast Wednesday, O'Neill discussed the possibility people might question his story. Since the Fox News special was filmed, sources with knowledge of the 2011 raid on Bin Laden's compound in Pakistan have reportedly questioned O'Neill's claim he fired the fatal shot at the Al Qaeda leader. O'Neill told Fox News he was aware people might be skeptical of his story and pre-emptively offered a rebuttal. "It's one of those things where, you know, I heard from a guy, that heard from a guy, that heard from a guy, and then, it's all of a sudden, it turns into a different story," said O'Neill. "Again, it doesn't bother me, because, you know, there were two people that were there. Unless you were in the room at the time, you only know what you were told," He told Fox News he confronted Bin Laden directly and shot him three times. O'Neill's story is slightly different from the one presented in a 2012 book about the raid by another former SEAL, Matt Bissonette. In his book, Bissonette wrote that he was the number two person in line as the U.S. soldiers entered the room where Bin Laden was. Bissonette also said he fired shots at Bin Laden when the Al Qaeda leader was on the ground. However, O'Neill said he was the second SEAL into the room after another one of his colleagues cleared people out of the way. He also said he killed Bin Laden after shooting him in the head multiple times. O'Neill addressed the discrepancy between his story and Bissonette's book in his interview with Fox News. "I think that war is foggy and I think that the author is telling the story as he saw it and also based on the debrief the he heard," said O'Neill. O'Neill told Fox News the military debriefing Bisonette and other SEAL team members heard was "fairly accurate." "The debrief was just cleaned up, it was missing a few details," he explained. O'Neill also insisted the bullets from his gun unquestionably killed Bin Laden whether or not other SEALs fired their own shots before or after he hit the Al Qaeda leader. "When I went in the room, I cant say for 100% that he was hit when I went in the room, he could have been," said O'Neill of Bin Laden. "He was definitely on two feet and he was definitely moving. So, you know, he was there and I'll take ten lie detectors on that one." Currently, both Bissonette and O'Neill face scorn from their Navy SEAL counterparts for not only violating non-disclosure agreements but for pursuing public attention on the backs of what was a team effort. "I don’t feel like the Navy owes me anything. I don’t feel like I owe the Navy anything. My only regret is that, I miss my guys,” O’Neill said. After the Bin Laden raid, O'Neill went on his 12th and final deployment with the Navy SEALs and decided he wanted "a clean break" from the military community. O'Neill has been touring the nation as a motivational speaker.
SEE ALSO: How A 27-Year-Old Reporter Landed An Interview With The Alleged Bin Laden Shooter Join the conversation about this story »  | ||
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IMF's Lagarde sees jobs shortfall in G20 growth target | ||
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Brisbane (Australia) (AFP) - International Monetary Fund chief Christine Lagarde has backed the G20's pledge to raise economic output by 2.0 percent in the next five years, but warned it will not create all the jobs needed. Speaking to the Australian Financial Review from Washington before heading to Brisbane for this weekend's meeting of the world's 20 biggest economies, Lagarde said focusing on growth was the right strategy. Host Australia has pushed for members to commit to reforms, including cutting red tape and encouraging private infrastructure investment, in a bid to boost the group's economic output by US$2 trillion. "Moving the needle up two points over five years is certainly an improvement," the former French finance minister said in comments published Thursday. "Is it going to be sufficient to deliver all the jobs that are needed? No. But it's certainly a step in the right direction if it is implemented." In a report ahead of the summit, the IMF said the world economy faced stiff headwinds from sluggish growth in Europe and Japan and a slowdown in emerging economies. It trimmed its growth forecast for the year to 3.3 percent, from 3.4 percent, citing geopolitical tensions and volatility in financial markets, and urged advanced economies to tackle high unemployment by spending more to generate jobs. "The recovery is under way but is uneven, fragile and with downside risks on the horizon," Lagarde told the financial daily newspaper. On the upside, the Washington-based body said a nearly 20 percent fall in oil prices since September would, if sustained, aid growth. Lagarde said she had a "strong confidence" a deal on the 2.0 percent goal would be reached this weekend and praised the government of Australian Prime Minister Tony Abbott for focusing the G20 agenda. "I think the Australians have done something to be satisfied and proud of because there are deliverables and they are passing the baton to Turkey with a bunch of good things done," she said. "Early on they identified the agenda, they were very focused and did not try to cover the entire planet of issues. They managed to pull off the growth agenda." US President Barack Obama, China counterpart Xi Jinping and India's Prime Minister Narendra Modi are among the leaders to be hosted by Abbott in Brisbane for the two-day summit. Join the conversation about this story »  | ||
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Development banks back G20 global infrastructure hub | ||
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Brisbane (Australia) (AFP) - The world's top development banks on Thursday threw their support behind G20 plans for a global infrastructure hub to spur growth and create jobs, saying it is key to helping tackle poverty. The Group of 20 of the world's biggest developed and emerging economies agreed in September to establish the Global Infrastructure Initiative, expected to be based in Sydney, to share information about matching investors with projects. Its main purpose is to cut red tape and close the "information gap" between potential investors and infrastructure projects as the G20 looks to spur world economies by shifting from government-led growth towards private sector-led growth. It was welcomed in a joint statement by the African Development Bank, Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank, the Islamic Development Bank, World Bank and IMF. "We stand ready to bring our experiences and skills to the G20's work on infrastructure and to support a proposed new global infrastructure hub," they said ahead of a G20 leaders' meeting in Brisbane this weekend. "Infrastructure is key to tackling poverty and promoting inclusive growth. Well-functioning infrastructure is essential to overcome bottlenecks to growth in emerging and developing economies, and as an enabler of private sector led growth. "No country has developed without access to well-functioning infrastructure," they added. "At a time when the outlook for global growth is disappointing, investment in infrastructure can play an important role in boosting short-term demand, as well as bolstering longer-term supply capacity." The multilateral development banks provide over US$130 billion of financing for infrastructure annually, and said they were developing new platforms to mobilise private finance on a larger scale through regulatory reforms. The needs are immense with the funding shortfall for infrastructure projects in emerging and developing economies broadly estimated at over US$1 trillion per annum. "It is vital that we -– the multilateral banks –- work together to address the US$1 trillion per year infrastructure financing gap in developing and emerging economies," World Bank president Jim Yong Kim said in emailed comments to AFP. "Our combined resources, experience and financing instruments can make a huge difference in closing the gap. "We can make a significant contribution to reducing poverty and boosting shared prosperity, if we are to mobilise this enormous untapped capacity, to help build a credible pipeline of viable and bankable projects in emerging markets and developing economies." The hub has been one of Australia's main proposals during its presidency of the G20 as the grouping looks to meet a two percent increase to its combined growth over five years through economic reform and infrastructure investment. The push to raise private sector investment in infrastructure comes as many governments are reining in public spending in a bid to cut their budget deficits. Join the conversation about this story »  | ||
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India police detain doctor over sterilisations after 13 women die | ||
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New Delhi (AFP) - Police have detained a doctor who performed mass sterilisation surgeries in central India that left 13 women dead and dozens ill in hospital, a senior officer said Thursday. R.K Gupta was detained for questioning late Wednesday in Chhattisgarh state amid mounting anger over the surgeries conducted at a health camp on the weekend, police inspector general Pawan Deo told AFP. The doctor operated in just five hours on 83 women who were paid 1,400 rupees ($23) under a government-run sterilisation scheme to reduce population growth. "He has been taken into custody. He will be produced in the court in the afternoon today. He is likely to be arrested soon after," Deo said by phone from Bilaspur district. Police were planning to seize equipment used during the surgeries, he said, amid fears that they were infected before the operations were carried out. The victims had suffered vomiting and a dramatic fall in blood pressure after undergoing laparoscopic sterilisation, a process in which the fallopian tubes are blocked. Sterilisation is one of the most popular methods of family planning in India, and many state governments organise mass camps where rural women can undergo the usually straightforward procedure. Although the surgery is voluntary, rights groups say the target-driven nature of the programme has led to women being coerced into being sterilised, often in inadequate medical facilities. Under pressure to meet targets, some local governments offer additional incentives such as cars and electrical goods. Join the conversation about this story »  | ||
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This Is The Fox News Reporter Who Found The Alleged Bin Laden Shooter | ||
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Fox News aired the second half of an exclusive two-part interview with Robert O'Neill, the former Navy SEAL who says he shot Osama Bin Laden on Wednesday evening. Business Insider published a story based on a conversation with Peter Doocy, the young reporter who got the scoop, on Tuesday. In the late hours of May 1, 2011 news broke that US security forces killed Al Qaeda leader Osama bin Laden and Fox News reporter Peter Doocy, ran out of his apartment in Washington D.C. "I got down to the White House and just celebrated on Pennsylvania Avenue late on a Sunday night with thousands of people and it was a night that I will never forget. Everyone just shared this great feeling of, we got him," Doocy told Business Insider in an interview. Almost three and a half years later, Doocy, 27, uncovered the identity of the man who said he fired the fatal shot, former Navy SEAL Robert O'Neill. Doocy managed to land the first televised interview with O'Neill, which is being broadcast on Fox News Tuesday and Wednesday night this week in an exclusive two-part documentary called "The Man Who Killed Osama Bin Laden." Doocy was introduced to O'Neill through a third party source a few months after the raid on Bin Laden's compound in Abbottabad, Pakistan. The two first met at an Irish pub in Pentagon City in 2012. After Doocy gained O'Neill's trust, the ex-SEAL agreed to reveal his identity and speak on camera. To ensure no one within Fox would learn of the huge scoop, Doocy's team created a code name for the project. "If we had to book travel or if we had to order a camera crew we gave it a code name and that code was Gatewood," Doocy said. The team chose this name to pay homage to the Army commander Charles Gatewood who helped capture Apache leader Geronimo in 1886. "Geronimo" was the code word the SEALs used on the night of the Bin Laden raid to confirm the country's most wanted man was dead.
"He is one of the best this country has to offer. He is an all-American guy and I hope people will see that when they watch this two-night segment," Doocy said. Two days after Fox News announced plans for the documentary, SOFREP, a military blog, revealed O'Neill's identity. However, Doocy told Business Insider he doesn't think the blog stole his thunder. "It really just confirms what we have known all along that there is a lot of interest in this story. In the Rob O'Neill story," Doocy said. "Obviously his name is out there and his picture is out there now and a lot of other stuff is too. Some of the stuff out there now is true, and some of it is not. We are the only ones that he sat down with on camera to explain his story and it's his own words and the way he tells it is so good." A Defense Department spokeswoman, gave a statement to Business Insider, in which she said former SEALs were bound by military non-disclosure agreements and could face criminal charges for revealing information about the stealth raid. The spokeswoman specifically said SEALs were prohibited from revealing the names of any participants, which remain classified. Fox News subsequently provided a statement to Business Insider indicating the government had not attempted to block the documentary. "FOX News has not been contacted by the Department of Defense or any other government agency expressing concern about 'The Man Who Killed Osama Bin Laden' special and we have every intention of airing it as planned on November 11th and 12th," the Fox News spokesperson said. Join the conversation about this story »  | ||
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When asked to describe O'Neill, Doocy used words like "patriot" and "warrior." The Navy SEAL Who Says He Shot Bin Laden Thinks His Life Is In Danger | ||
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Robert O'Neill, the former Navy SEAL who says he shot Osama Bin Laden believes his life could be threatened now that he has gone public with his story. He discussed the potential danger during the second half of Fox News' two part documentary "The Man Who Killed Osama Bin Laden," which premiered Wednesday night. "Are you worried about your personal security?" Fox News reporter Peter Doocy asked O'Neill, "Yes," O'Neill said. O'Neill went on to say he was worried because of potential fallout from the documentary, in which he told the tale of the 2011 raid on Bin Laden's compound in Pakistan. "I don't know how people will react to this," said O'Neill. "I think all the guys ... all the guys on the mission, there could be a threat, yes." O'Neill first shared his story in an Esquire interview published last year. In that article, his wife, from whom O'Neill is officially separated, discussed how she wanted to distance herself from him "for safety reasons." "We're actually looking into changing my name," she said. "Changing the kids' names, taking my husband's name off the house, paying off our cars. Essentially deleting him from our lives, but for safety reasons. We still love each other." O'Neill was first identified by the website SOFREP on Nov. 3, days after Fox News announced plans to air the documentary. SOFREP released his name after two leaders of US Naval Special Warfare Command sent a letter to their team members criticizing any SEAL who would go public about a mission.
In the Fox News interview, O'Neill also discussed the possibility the military could be "upset" by his decision to tell his story. "There’s going to be people that are upset because you can’t do anything without upsetting some people," he said. "I don’t know why that is. I don’t believe that I’m saying anything that hasn’t been said, and confirmed, and acknowledged by high ranking officials." O'Neill isn't the first SEAL who participated in the raid to discuss details of the mission. In 2012, Matt Bissonette released a book about his participation in the raid. Earlier this summer, the Justice Department launched a criminal investigation into whether Bissonette leaked classified material. "If classified information is accidentally released to the world, SEALs can get killed, innocent people can get killed, other American military people can get killed. That's what this is all about," co-author of Navy SEALs: Their Untold Story, William Doyle said in an interview with NBC News. Currently, both Bissonette and O'Neill face scorn from their Navy SEAL counterparts. "I don’t feel like the Navy owes me anything. I don’t feel like I owe the Navy anything. My only regret is that, I miss my guys,” O’Neill said. After the Bin Laden raid, O'Neill went on his 12th and final deployment with the Navy SEALs and decided he wanted "a clean break" from the military community. O'Neill has been touring the nation as a motivational speaker. SEE ALSO: Navy SEAL Who Says He Shot Bin Laden Says 'The Team Got Him' Join the conversation about this story »  | ||
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After Fox News issued a press release about the documentary, the Pentagon also gave a pair of statements to Business Insider wherein they Kerry to meet Abbas as new Israeli settlements fan tensions | ||
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Jerusalem (AFP) - US Secretary of State John Kerry is set for talks Thursday with the Palestinian leader on easing regional tensions, after Israel approved new settler homes in east Jerusalem despite mounting unrest. The new settlement construction was announced on Wednesday just hours after suspected Jewish extremists torched a West Bank mosque, in another development likely to inflame tempers in an already heated atmosphere. Months of unrest have escalated in recent days, spreading from annexed east Jerusalem to the West Bank and Arab communities across Israel, raising fears of a new Palestinian uprising. Kerry was due to hold talks with Palestinian president Mahmud Abbas in Amman on Thursday, after arriving in Jordan late Wednesday to discuss the situation in annexed east Jerusalem and other regional issues at a private dinner with King Abdullah II. So far no meeting between Kerry and Israeli Prime Minister Benjamin Netanyahu has been scheduled, the US State Department said. Kerry's arrival in the region comes as Israel struggles to contain the wave of unrest. Much of the tension has been focused on Jerusalem's flashpoint Al-Aqsa mosque compound, a site holy to both Muslims and Jews, which has seen numerous clashes sparked by Palestinian fears that Israel is preparing to legislate changes to allow Jewish prayer there. - 'Israeli violations cannot be tolerated' - "The Palestinian position will be made crystal clear: the Israeli violations are a red line and cannot be tolerated -- especially with the tension and Israeli escalation in Al-Aqsa and Jerusalem," Abbas spokesman Abu Rudeina said. Clashes at the mosque compound have drawn sharp criticism from both the Palestinians and Jordan, which has custodial rights at the shrine. Israel has repeatedly pledged it has no plans to alter the decades-old status quo. Abbas will also tell Kerry that the Palestinians will not be deterred from plans to present a draft resolution to the UN Security Council this month seeking an end date for Israeli occupation, Rudeina said. Kerry had also been scheduled to go to the United Arab Emirates, but that visit has been cancelled, State Department spokeswoman Jen Psaki said without elaborating. Ahead of Kerry's arrival, King Abdullah took Israel to task by expressing his "total rejection" of its "repeated aggressions and provocations in Jerusalem," a palace statement said. Meanwhile an Israeli committee approved plans to build 200 homes in Ramot, a neighbourhood of annexed east Jerusalem, despite recent settlement announcements sparking outrage among the Palestinians. - 'Hostile and provocative acts' - The US State Department sharply condemned the plans. "We are deeply concerned by this decision, particularly given the tense situation in Jerusalem," said Psaki. Middle East Quartet envoy Tony Blair urged Israeli and Palestinian leaders to call for restraint and "an end to hostile and provocative acts", including settlement construction. UN chief Ban Ki-moon demanded both sides do everything possible "to avoid further exacerbating an already tense environment". Tit-for-tat violence showed no signs of easing, with a pre-dawn arson attack on a mosque in a village between Ramallah and Nablus in the West Bank, which Palestinian security officials blamed on extremist Jewish settlers. "By the time the civil defence (firefighters) got there, the ground floor was completely burnt out," village council head Faraj Nassan told AFP. It was the second time in two years that a mosque in the village had been set alight. The attack came two days after Palestinian knife attacks killed a settler in the southern West Bank and an Israeli soldier in Tel Aviv. Elsewhere a Molotov cocktail was thrown at an ancient synagogue in the Arab Israeli town of Shfaram, causing minor damage, police said. The structure is not currently used for worship. - 'Real test of leadership' - Palestinian anger is also running high after Israeli troops shot dead a 22-year-old protester in the southern West Bank on Tuesday. Since the current round of violence began five months ago with the kidnapping and murder of three Israeli teenagers by militants, at least 17 Palestinians have been killed in the West Bank, according to an AFP count. Israeli Finance Minister Yair Lapid said the situation was "a real test of leadership" for both Abbas and Netanyahu. "We must throw a bucket of cold water over the explosive situation... of the last few weeks, and not add fuel to the furnace," he said. Defence Minister Moshe Yaalon said it was too early to describe the wave of violence as a new Palestinian uprising, but warned the public to be alert for a possible further escalation. Meanwhile, Israel said it will not cooperate with a UN inquiry into its 50-day war with rocket-firing militants in Gaza this summer, because of the enquiry commission's "obsessive hostility against Israel." In August, Canadian lawyer William Schabas was named as the head of the UN commission, angering Israel, where he is widely regarded as hostile to the Jewish state over reported calls to bring Netanyahu before the International Criminal Court. Join the conversation about this story »  | ||
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Two window washers rescued from 69th floor of World Trade Center | ||
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New York (AFP) - Two window washers were rescued at the new World Trade Center after the cable secured to their platform snapped and left them dangling 69 floors up for nearly two hours. Rescuers cut through a window to reach the workers who clung to a platform suspended at a precarious angle at the south side of the building, a frightening 787 feet (240 meters) above ground at Tower One of the complex in lower Manhattan. Some 100 firefighters were involved in the complex rescue operation at the building, which at 1,776 feet is the tallest in the United States. It took rescuers nearly an hour to reach the two men, who suffered mild hypothermia, said New York Fire Commissioner Daniel Nigro. "They were quiet, they didn't say much," Nigro told reporters. Rescuers cut a diamond-shaped hole out of three layers of glass on the 68th floor and brought the washers inside the building. Before they were recovered, firefighters had suspended a cable to secure the dangling platform and communicated via radio with the two men, who were described as experienced window washers. Rescuers had contemplated sending another platform for the men, but decided it was too risky to transfer them to another rig at that height. Ambulances, fire trucks and helicopters were dispatched to the scene and the area around the building in downtown New York City was cordoned off. The window washers were wearing safety harnesses and therefore were not in grave danger, authorities said, while forecasters reported light winds of 7 miles (11 kilometers) per hour. The building, which stands on the ground of the former World Trade Center that was attacked on September 11, 2001, reopened only last week. There are already 175 Conde Nast employees working in the building, with 3,400 additional staffers expected to join the company at the WTC in the new year. The 104-story edifice was designed by architect David Childs and has already become a New York landmark, with its clean lines, spire top and glass and mirror facade. The new WTC site includes a total of five towers, a memorial site, a museum, a train station, a performance area and commercial space. Join the conversation about this story »  | ||
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This Is The Secret To Finding Love Online | ||
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Describe yourself in three sentences. Now do it over again, and this time, answer honestly. It took data analyst, journalist, and relationship-seeker Amy Webb a few passes around the online dating world to realize that the one glaring problem with online dating sites like Match.com and eHarmony isn't that their questions are worded poorly or that their algorithms are bad. It's that people who use online dating sites — herself included — don't answer the questions honestly. And these questions are what the sites rely on to pair you with someone you might like, or even love. As a result, users get matched up with people they have nothing in common with and, date after torturous date, they're left asking themselves 'What is wrong with me?' The good news is that it's not your fault. To get the date you really want, you have to hack the system. Lucky for you, Webb's already done all the grunt work. Tired of break-ups and looking for a lifetime partner, she signed up for a handful of online dating sites. After filling in all of the questionnaire and getting a few responses, she ventured out to meet her first match. The first date was a disaster. Once she arrived at the glamorous restaurant he'd picked out, he began making lewd jokes and ordering tons of food. Then, just before the waiter dropped off the massive bill, the date left, never to be seen again. Phased but determined, Webb struggled on. When the dates didn't improve, she started logging them in a spreadsheet, pulling out dozens of data points on her alleged "matches" in an attempt to discover what was going wrong.
What she found surprised her. "It turns out that these probably weren't bad guys," she says in a TED talk. "They were just bad for me." The reason they were bad for her wasn't because the websites' algorithms were off. In fact, the algorithms "were doing exactly what they were designed to do," says Webb. But in order for the algorithms to match up two people, both of them have to answer the questions on which they're based honestly. This is the crux of the problem, says Webb: Smart algorithms getting skewed by not-quite-honest answers. Unfortunately, Webb says, "very few of us have the ability to be totally and brutally honest with ourselves" As a result, we get "matches" that don't match us at all. Research supports Webb's findings. In a recent study of undergrads, 60% of participants lied at least once during a 10-minute casual conversation with a stranger. Another study estimated that the average person lies in one in five of his or her daily interactions. Worse still, just being "more honest" won't solve this problem, because all of our potential matches out there aren't being totally honest either. In order to meet her real matches, Webb realized, she had to find out what her match was looking for. In other words, she had to reverse-engineer the dating game. Once she knew what she wanted in her match, she started studying what he looked for in his. When she took a look at her matches' matches — the other women he had been paired up with — she found some striking commonalities. She also found some key differences between their profiles and her own. First, she realized, she'd selected terrible photos of herself to present to the world. Of the three she'd included in her profile, one was too zoomed out to even see her, another was too close-up to be flattering on anyone, and a third was poorly lit. Second, because she had been busy when she filled out the site's questionnaire, she had simply copy-pasted information from her resume into the blank spaces below the questions. Where the site had asked for a description of her, Webb had copy-pasted that she was "an award-winning journalist and a future thinker." In contrast, Webb's competitors all had great profile photos (well-lit, perfectly positioned, etc.) and filled their descriptions with words like "love," "family," and "fun."
Using her findings, Webb gave her profile a make-over. She included better photos, for example, and used more fun, open language to describe herself. A few weeks later, Webb had become, quite literally, the most popular woman online. And thanks to all her hacking, she found the perfect match. They're now married with a kid, proving all her hard work worthwhile. SEE ALSO: Hack Your Tinder Profile And Get More Matches — With Science Join the conversation about this story »  | ||
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Webb tracked everything from the number of times a date made her high-five him to how often he made an awkward sexual remark.
These women seemed friendly, Webb realized. Her profile, by contrast, didn't. "It's about being more approachable," Keystone pipeline may finally pass US Congress next week | ||
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Washington (AFP) - The US Congress will vote in coming days on approving construction of the much-delayed Keystone XL oil pipeline, a project Republicans claim is step one in their plan for enhanced US energy production. Should the Senate next Tuesday approve the same bill that the Republican-led House is widely expected to pass this Thursday, the controversial measure would head to President Barack Obama's desk, some six years after its initial consideration. Obama's administration for years has held up approval of the $5.3-billion pipeline that would transport Canadian tar-sands oil to US refineries, citing the potential environmental impact. The Senate's Democratic leadership has largely bent to Obama's wishes in preventing a Keystone vote. But Republicans, and several Democrats in energy-industry states who also back the project, saw an opening in the aftermath of last week's midterm elections in which the GOP routed Obama's party and snatched the Senate majority. "I believe it is time to act," Senate Democrat Mary Landrieu, who is locked in a close run-off race for her Louisiana seat, told Senate colleagues Wednesday. Landrieu, who chairs the Senate Energy Committee, stressed the bill now had the necessary 60 votes to overcome blocking tactics by her fellow Democrats in the 100-member chamber. Incoming Senate Majority Leader Mitch McConnell praised Democrats for having "finally backed off" their objections to a Keystone vote. "The American people have elected a new Republican majority in the Senate and that has already made a difference," McConnell said in a statement. "I hope this post-election conversion on Keystone signals Democrat cooperation on a whole host of other energy bills they have blocked, and whose passage would help to make America more energy-independent." The House of Representatives already voted in May 2013 to authorize the pipeline but it stalled in the Senate. The White House threatened a veto of similar Keystone legislation last year, but Landrieu suggested she believed Obama might relent. The issue could signal a bright spot in cooperation between the warring parties. The House's Keystone bill was introduced Wednesday by congressman Bill Cassidy, who is challenging for Landrieu's seat in their December 6 runoff, and both lawmakers are eager to appear as the dealmaker who rammed Keystone through Congress. A southern segment of the pipeline that needed no presidential action is now under construction by builder TransCanada. Join the conversation about this story »  | ||
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Scientists hope for data after historic but dodgy comet landing | ||
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Darmstadt (Germany) (AFP) - European scientists were hoping for a stream of data Thursday after a robot lab made the first-ever landing on a comet, a key step in a marathon mission to probe the mysteries of space. Operation chiefs in Darmstadt, Germany, on Wednesday said the lander Philae failed to anchor to comet 67P/Churyumov-Gerasimenko on landing, but still managed to send back scientific information. The 100-kilogramme (220-pound) explorer may have plopped down in a soft, sand-like material or may be lightly touching the surface, they speculated. More would be known on Thursday when Philae makes scheduled contact with its mothership, Rosetta, landing manager Stephan Ulamec said. "Hopefully, we are sitting there on the surface at a position different to the original landing and can continue our science," Ulamec said. The agency was to brief the press at 1300 GMT. The European Space Agency (ESA) is ecstatic at the operation and NASA -- the world's most successful space agency and an expert at difficult landings -- itself heaped praise on the exploit. Equipped with 10 instruments, Philae was designed to carry out the first-ever scientific experiments on a comet, providing the jewel in a crown of a massively complicated project more than two decades in the making. Getting from Earth to a comet that is travelling towards the Sun at 18 kilometres per second (11 miles per second) was a landmark in space engineering and celestial mathematics. The 1.3-billion-euro ($1.6-billion) Rosetta mission was approved in 1993. Rosetta, carrying Philae, was hoisted into space in 2004, and took more than a decade to reach its target in August this year, having used the gravitational pull of Earth and Mars as slingshots to build up speed. The pair covered 6.5 billion kilometres together before Wednesday's separation prior to landing. Seen by the superstitious as harbingers of good or evil, comets are viewed by astrophysicists as time capsules of the nascent Solar System. They comprise ancient ice and dust, the rubble of the material that went into the making of the planets 4.6 billion years ago. According to one hypothesis, they may have given Earth the gift of life by pounding it with ice that made the oceans and carbon molecules that provided the building blocks of organisms. Philae was designed to come into land at a gentle 3.5 kilometres per hour, then fire two harpoons into a surface that engineers hoped would provide sufficient grip while the robot conducts experiments with 11 scientific instruments. However there were indications that these landing harpoons had failed to deploy, ground control said. Envisaged tests include drilling through the comet surface and analysing the samples for chemical signatures. - Science goals - In Toulouse, France, astrophysicist Philippe Gaudon, who heads the Rosetta mission at French space agency CNES, said it would be difficult for Philae to drill if it was not secured. "However, Philae has not tipped over and seems to be stabilising," Gaudon said. "And a certain number of instruments are continuing to operate, mainly for measuring temperature, vibration, magnetism and so on." Philae is designed to operate for about 60 hours on a stored battery charge, but several months more if it can get replenishment from sunlight. The 100-kilo (220-pound) lander complements 11 instruments aboard Rosetta, a three-tonne orbiter that is doing four-fifths of the expected scientific programme from orbit. Whatever happens to Philae, Rosetta will continue to escort the comet as it loops around the Sun. On August 13, 2015, "67P" will come within 186 million kilometres of the star. The mission is scheduled to end in December 2015, when the comet heads out of the inner Solar System. At this point, Rosetta will once again come close to Earth's orbit, more than 4,000 days after launch. Join the conversation about this story »  | ||
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Comedian Daniel Tosh Just Torched ESPN For Ripping Him Off | ||
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Daniel Tosh is the famous host of his own show on Comedy Central called "Tosh.0," and he's incredibly ticked off at ESPN and their flasghip show "Sportscenter," for its new segment called "The Awesome Video Segment," according to The Sporting News. Tosh himself has a segment on his show called "Web Redemption" that he says is extremely close to what "Sportscenter" aired. And the kicker was when an ESPN reporter used the same catchphrase in the video that Tosh uses: "ready to give it another shot?" Tosh then decides to get his revenge by doing a spot-on parody of Sportscenter's "Sports Science," which breaks down all the things he thinks ESPN does incredibly wrong. Watch the whole thing, you won't regret it:
Tosh.0 Join the conversation about this story »  | ||
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Juncker denies "best friend of big business" tag amid tax uproar | ||
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Brussels (AFP) - EU Commission head Jean-Claude Juncker has denied a claim that he was the "best friend of big business," amid uproar over huge tax breaks top global companies enjoyed when he was Luxembourg premier. Breaking his silence on the affair, an under-fire Juncker went on the counter-offensive on Wednesday by announcing the Commission, the EU executive arm, would "push for (tax) harmonisation and fair rules among all". Revealed last week, the tax breaks extended to household names such as Pepsi, IKEA and Deutsche Bank and are politically explosive at a time when cash-strapped EU governments have sharply cut budgets. "Do not describe me as the best friend of big business, big business has much better friends in this house," Juncker told lawmakers in the European Parliament, where he made a surprise appearance that triggered boos from far-right parties. The appearance by Juncker followed a similar one in front of journalists and ended almost a week of stony silence since the shock revelations were published by newspapers worldwide, attracting calls for his resignation. Juncker, a grizzled veteran of European politics, staunchly denied he was an "architect" of the "perfectly legal" system and had absolutely no "personal involvement" with any of the arrangements. "I have said that the Commission would fight tax evasion and fiscal fraud," Juncker said as he faced a barrage of journalists' questions. Juncker said the deals complied with European Union and international rules, but with attitudes changing, he acknowledged the need for updated laws and more transparency. - 'No conflict of interest' - Leaked documents made public by the US-based International Consortium of Investigative Journalists showed the tiny duchy of Luxembourg gave hundreds of global firms huge tax breaks. The "Luxleaks" documents showed that billions were funnelled through Luxembourg thanks to complex financial structures that allowed companies to slash their tax liabilities, depriving hard-up governments of revenue. The tax deal reports put Juncker, who only took office on November 1, immediately in the firing line given the European Union's headline commitment to fighting tax fraud. The Commission has already launched a series of investigations into tax arrangements in Ireland, the Netherlands and Luxembourg on the grounds they might infringe state aid rules by unfairly favouring some companies over others. "There is no conflict of interest when the Commission launches probes" into such arrangements, Juncker said. EU Competition Commissioner Margrethe Vestager has promised to press on with the probes and Juncker earlier said he would let the process take its course. - Commission 'supports' Juncker - However, questions about his role in securing deals which are technically legal but go against the grain at a time of austerity and tax hikes for ordinary citizens, refuse to go away. In his defense, Juncker said that as head of the Commission he could no longer comment on Luxembourg's affairs or whether he remained the right person to lead the EU. "I'm as suitable as you are," Juncker replied to one journalist. Some 22 of the 28 EU states had similar tax arrangements, he said, and the issue was to ensure that they did not violate state aid rules. The commission chief appealed for parliament's support. "I need your confidence. Without your confidence, nothing is possible," Juncker said, triggering some boos. At least one member of the European parliament called for Juncker to resign or at least stand down while his role in Luxembourg is investigated. But Commission Vice President Frans Timmermans, whom Juncker calls his "right-hand" man, scotched any suggestions that his boss would step down. Juncker defended his career against suggestions of impropriety, adding there "is nothing in my past" suggesting that he had encouraged tax evasion. On the contrary, he said, "in the course of my life, I have sought greater tax harmonisation in Europe" so as to ensure a level playing field for all. He announced the Commission would issue a directive soon on the automatic exchange of information on tax rulings, which allow companies to work out in advance how the authorities of a particular country will deal with them. He said he has tasked economic commissioner Pierre Moscovici with drafting a proposal. Australian Prime Minister Tony Abbott on Wednesday said leaders of the world's most powerful economies should use this weekend's G20 summit in Brisbane to close corporate tax loopholes that cost countries billions of dollars in revenue. Join the conversation about this story »  | ||
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Warhol images of Elvis, Brando fetch $151 million | ||
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New York (AFP) - Two iconic Andy Warhol paintings of Elvis Presley and Marlon Brando sold for more than $151 million at auction in New York, shattering pre-sale estimates by several million dollars. Pop-art legend Warhol's "Triple Elvis" -- a 1963 silkscreen depicting three images of the King of Rock and Roll posing as a gunslinging cowboy -- sold for $81.9 million at the Christie's sale on Wednesday. The striking seven-foot tall work, derived from a publicity still for the 1960 Don Siegel-directed Western "Flaming Star," had been estimated to fetch $60 million. The final sale price topped out at more than $20 million above the estimate after six minutes of frenzied bidding. It was a similar story for the other Warhol classic sold Wednesday, "Four Marlons," a giant set of four images of the legendary actor taken from his 1953 motorcycle gang classic "The Wild One." Both of Wednesday's auction prices however were well short of the all-time record for a Warhol work set by "Silver Car Crash (Double Disaster)," which fetched $105.4 million in November last year at Sotheby's. A flurry of bids also greeted the sale of Cy Twombly's "Untitled" from his blackboard series, which went under the hammer for the first time. The painting - a series of energetic looping spirals resembling chalk scribblings on a school blackboard -- sold for $69.6 million, the highest amount ever paid for a work by the American, who died three years ago in Italy. Several world records were set for masterpieces sold on Wednesday, including $30.4 million raised for "Smash" by Ed Ruscha, regarded as one of the leading lights of the American pop-art movement. American photographer Cindy Sherman, 60, also set a record with her "Untitled Film Stills," which fetched $6.8 million. Japanese artist Yayoi Kusama's "White No. 28" earned $7.1 million, smashing its estimate of between $1.5 million and $2 million. Revered British artist Francis Bacon's "Seated Figure" meanwhile sold for $44.96 million, in the lower range of price estimates set between $40 million and $60 million. A Bacon triptych -- "Three Studies of Lucian Freud" -- sold for $142.4 million last year, the highest ever price for a work of art sold at auction, surpassing the previous best of $119.9 million raised for the fourth print of Edvard Munch's "The Scream" set in May 2012. Join the conversation about this story »  | ||
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REPORTS: Hasbro Is In Talks To Acquire DreamWorks Animation (HAS, DWA, SFTBF) | ||
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Hasbro is in talks to acquire DreamWorks Animation, according to a report from Deadline.com. Deadline reports that DreamWorks and Hasbro are in talks to create a combined family entertainment company that would be called DreamWorks-Hasbro, and says the deal is at least 60 days away from being finalized. DreamWorks currently has a market cap of about $1.9 billion and is the studio responsible for producing animated films including, "Shrek", "Madagascar", and "How to Train Your Dragon." Deadline's report said DreamWorks CEO Jeffrey Katzenberg is looking for Hasbro to pay $35 a share for the company, which would be more than a 50% from the $22.37 that DreamWorks shares closed at on Wednesday. The New York Times, citing a person briefed on the matter, is also reporting that Hasbro and DreamWorks are in talks regarding a deal. That report said only that Katzenberg is seeking a deal worth more than $30 a share. These reports come about six weeks after The Wall Street Journal reported that Japanese conglomerate SoftBank was in talks to acquire DreamWorks, though the Journal later reported that these talks cooled for reasons that weren't known at the time. The Times' report on Wednesday also said it isn't clear why those talks broke down. Deadline also reported that in a separate deal, DreamWorks is looking to form a joint venture with The Hearst Corporation involving its AwesomenessTV arm. DreamWorks acquired AwesomenessTV for more than $100 million in May 2013. AwesomenessTV operates a network of YouTube channels. Deadline broke the news after 8:00 pm ET, which is when stocks no longer trade in the after hours, but shares of DreamWorks are likely to rise sharply on Thursday following the news. You can read Deadline's report here, and The New York Times report here. Join the conversation about this story »  | ||
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South Korea falls silent for high-pressure exam | ||
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Seoul (AFP) - South Korea went into "hush" mode Thursday, as nearly 650,000 students sat the annual college entrance exam that will play a large part in defining their adult lives in an ultra-competitive society. Preparation for the crucial exam starts from primary school, and so does the relentless pressure which has been blamed for everything from early burnout to teenage depression and suicide. A 17-year old boy was found dead Wednesday evening having apparently jumped from the window of his family's apartment. His parents told Yonhap news agency that he had become extremely stressed as the test neared. Success in the exam means a secured place in one of South Korea's elite universities -- a key to future careers as well as marriage prospects. With so much riding on the outcome, the day of the test -- held simultaneously in 1,257 centres nationwide -- sees the entire country switch to silent running. The transportation ministry bans all airport landings and departures for a 40-minute period to coincide with the main language listening test. The military also reschedules airforce drills and live-firing exercises, while traffic is barred within a 200-meter radius of the test centres. Public offices and major businesses, as well as the stock markets, opened an hour later than usual Thursday to help keep the roads relatively clear and ensure the students arrived on time for the exam which began at 8:40am (2340).
- Police escort -
Anyone who did get stuck could dial the emergency number 112, and request help from police cars and motorbikes on standby to rush them to the centres. At Seoul's Pungmoon Girls' High School, junior students huddled together in the -3C (26.6F) cold held good-luck banners and shouted encouragement as their seniors entered the exam room. For the equally stressed parents, there was little left to do after a final hug at the school gates. Many immediately made their way to nearby churches and temples in search of some divine intervention. Major internet portals and social networks were flooded with good-luck messages, and "test-takers" and "jackpot for the test" were among the top-trending topics for Korean Twitter users on Thursday morning. Some warned against taking the exam too seriously. "Don't do anything stupid," wrote one user on the top Internet portal Naver. "Don't kill yourself just because you mess up the test. There are many people who succeed in life without going to college."
- Genuine test of ability? -
The approach of exam day tends to renew a perennial debate in South Korea about the country's obsession with education and the pros and cons of the college entrance system. The bottom line for many is that the examination itself is fair. Everyone takes the same paper, which relies on the multiple choice system to prevent subjective marking. But bitter disputes still occur. A question in the Geography section of the 2013 exam -- worth three points out of a total 340 -- became the subject of a costly, year-long legal battle after the officially correct answer was challenged by some students and their parents. Security is absolute, with the hundreds of exam setters sequestered for more than a month in a secret location, which they are only allowed to leave once the test has been taken. They are kept in total isolation, denied phone contact with their families and with everything down to their food waste subject to rigorous examination. According to the Education Ministry, South Korean parents spent 19 trillion won ($17.5 billion) on extra tuition for their children last year -- equivalent to about 1.5 percent of the national GDP. Join the conversation about this story »  | ||
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Nintendo Is Making One Huge Mistake | ||
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Nintendo isn't going to change its tune on mobile games anytime soon. And that might be a huge mistake. In a Q&A with investors, Nintendo CEO Satoru Iwata reaffirmed the company's longstanding stance on mobile games, saying, "Basically, Nintendo’s utilization of smart devices means to 'make a stronger bond with our consumers through the use of smart devices,' instead of to 'do business directly on smart devices.'" That doesn't mean the company is ignoring mobile entirely. Iwata stressed the importance optimizing its websites for mobile phones, as well as building out a mobile site for the company's Mii characters, which is Nintendo's version of avatars, and are used in various games, including "Tomadachi Life." "If we were able to expand the Mii population and Mii were usable on consumers’ smart devices, for example, if consumers were able to create their profile icons on social media using Mii, we believe consumers would be happy, and we are developing something like it now," he said to investors. In a Q&A with Re/code's Eric Johnson, Nintendo of America's President and COO Reggie Fils-Aime reiterated the sentiment, saying, "It hasn’t changed our philosophy, which continues to be that we believe that it’s best for the gamer and the consumer to have gaming experiences that are unique and differentiated, and part of the way we deliver that is with our unique and differentiated hardware." Not releasing mobile versions of its games is missed opportunity for Nintendo, not least of which because the market for mobile games is huge. According to a recent report by App Annie (via Business Insider Intelligence), games represent 75% of mobile spending on iOS, and 80% on Android. Casual games, such as "Kim Kardashian Hollywood," brought in $43 million in the third quarter alone. And King, the maker of the game "Candy Crush," is still killing it: The company reported adjusted profit of $177.4 million, or $0.56 per share, which beat expectations for earnings of $0.47.
According to Juniper Research, mobile gaming's footprint will continue to grow. Juniper predicts that gaming on tablets will reach $13.3 billion by 2019; in 2014, that number was $3.6 billion. Other game companies are finding success in the mobile game market, as well. EA posted a Q2 revenue of $1.22 billion, thanks in large part to growth in the mobile gaming sector. The company has 155 million active monthly mobile game users. But there's hope yet for Nintendo. And it might start with its Amiibos, Nintendo's version of Disney's "Infinity" series of games and Activision's "Skylanders," where physical game pieces are used in the games. According to IGN, Nintendo will not region-lock Amiibos. That means the pieces will just work on any Nintendo device, no matter which region it's in.
Activision offers its "Skylanders" toys for mobile devices, and has found great success there, according to Kotaku. The tablet version comes with a special controller that pairs with your tablet, making it easy to play. The logical next step for Nintendo could be to make its Amiibos available on tablets, as well. Nintendo is also partnering with a company called Loot Crate to offer Amiibo subscriptions, according to GameSpot. By making the Amiibos work on any device, regardless of region, as well as partnering with third parties to offer the figurines, Nintendo is putting all of the pieces in place to make a huge impact in the mobile space. And people are clamoring for Nintendo to do so, including its investors and even internal employees. According to the Motley Fool, it's even creating something of an "internal revolt" between high-level execs and Iwata. The undeniable potential of mobile gaming, as well as the increasing calls for Nintendo to push into the mobile space, should make it clear to the company and Iwata that the future can be bright when it comes to mobile gaming. It just needs to be open to trying new things. And let's face it: Nintendo can use all the help it can get right now. It recently announced that it's on track to reporting an annual profit for the first time in four years. SEE ALSO: Black Friday Could Be The Day The Xbox One Finally Towers Over The Competition Join the conversation about this story »  | ||
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