A flaw in the Apple Watch leaves it absurdly vulnerable to thieves (AAPL) | ||
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A lack of security features in the Apple Watch has left the device extremely vulnerable to thieves, iDownloadBlog has found. The iPhone and other modern smartphones come with "kill switches" and security features that can stop potential thieves from using the device — essentially rendering it useless if stolen. Since their introduction, these features have massively disincentivised smartphone theft, as thieves learn it will be difficult to sell the devices on afterwards. But Apple's new smartwatch has no such built-in measures — and it's trivial to reset the wearable and pair it with a new iPhone. iDownloadBlog have put together a video showing the process. In less than a minute, without needing to enter a password, anyone can reset the Apple Watch to factory settings, and then pair it with their own iPhone, ready to use. This won't allow them access to the owner's data — but the majority of users' information tends to be stored on their iPhone anyway. Additionally, the Apple Watch has no GPS hardware of its own — it is reliant on the GPS tracker in the iPhone. This means if it is stolen, unlike the iPhone, you cannot track its whereabouts. Here's how the vulnerability works. First, you long-press the power button on the right to bring up the shutdown settings.
Then, hold down on "Power off" to bring up an option to "Erase all content and settings." This works even if the passcode hasn't been entered.
Once connected to a power source, it then double-checks one last time.
Click the tick, and the device will wipe itself and reset, ready to be paired with the thief's iPhone.
Here's the video:There's documented evidence showing that "kill switches" work to discourage theft. In February 2015, Reuters reported that over the past 12 months, theft of smartphones around the world had plummeted due to the inclusion of advanced security features blocking thieves from using stolen devices. In San Francisco, the number of stolen iPhones was down 40%. In London, theft was cut in half, according to officials, as thieves apparently realised there is little point, and stopped bothering. But for now, however, the Apple Watch is fair game. Join the conversation about this story » NOW WATCH: Forget the Apple Watch — here's the new watch everyone on Wall Street wants  | ||
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Apple is bringing back parts of its long-dead 'Ping' social network for its new streaming service (AAPL) | ||
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Apple is going to include features salvaged from its dead social network Ping in its new streaming service, 9to5Mac reports. The new beta version of iOS, Apple's mobile operating system, accidentally included an option in settings that refers to "Artist Activity" in the music app. 9to5Mac says that the setting is a clue to social network features in Apple's streaming service. Apple's streaming service, which is reportedly named "Apple Music," will let musicians communicate with their fans by posting samples of tracks, photo, videos and also tour dates. Fans will be able to like and comment on posts, but won't be able to create their own profiles. That's a big difference from Apple's previous attempt to build a social network. Apple launched a social network called Ping in 2010, and Steve Jobs called it "sort of like Facebook and Twitter meet iTunes." But Ping never took off, and Apple shut it down in 2012.
Ping was a rare failure for Apple. It prides itself on building features that users flock to, but people simply didn't care about Ping. Apple is having another go at building a social network for musicians, but there's no telling whether it's going to fare any better this time around. Join the conversation about this story » NOW WATCH: 5 cool tricks your iPhone can do with the latest iOS update  | ||
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10 things in tech you need to know today (YHOO, GOOG, AAPL, HPQ, WMT, ORCL) | ||
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Good morning! Here's the tech news you need to know today. 1. Yahoo's head of sales has left the company. Kevin Gentzel only joined Yahoo seven months ago. 2. Google PR boss Rachel Whetstone is joining Uber. She will become Uber's SVP of communications and policy, replacing David Plouffe. 3. Apple is expanding its factory complex in Cork, Ireland. A job listing for its Ireland office suggests that the expansion could be linked to its electric car project. 4. Google has launched its first app for the Apple Watch. That's despite the fact that Google and Apple are competing on smartwatch operating systems. 5. The Radio Shack brand was sold for $26.2 million. It was purchased by hedge fund Standard General LP. 6. Nintendo is bring back its classic gaming tournament. The Nintendo World Championships will be held for the first time in 25 years at the E3 conference. 7. Top HP execs are looking to leave when the company splits in two. The split is expected to take place in November. 8. Wal-Mart is launching a subscription shopping service that will compete with Amazon Prime. It's going to cost $50 a year, half of the cost of Amazon Prime, but won't feature any online services like video streaming. 9. Ad tech company Rocket Fuel rejected a $350 million takeover offer from competitor Gravity4. Rocket Fuel's CEO said the offer was not "credible." 10. Oracle founder Larry Ellison is hosting a fundraising event for Republican presidential hopeful Marco Rubio. The event will cost $2,700 for each guest to attend. Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about  | ||
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The 10 most important things in the world right now | ||
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1. An army general on Wednesday attempted to overthrow President Pierre Nkurunziz of Burundi, but the coup does not appear to have been successful and it's unclear who is in charge. 2. At least five people, including foreigners, were killed in a seven-hour siege on a popular hotel in Afghanistan's capital of Kabul. 3. An Amtrak train that derailed Tuesday night in Philadelphia was going more than twice the speed limit on a sharply curved section before it ran off the tracks, killing 7 people. 4. Malaysia on Thursday turned away two boats with more than 800 migrants, saying it could not afford to be nice. 5. Greece is back in recession after preliminary data showed the economy contracted by 0.2% in the first quarter of this year. 6. Dozens were killed on Wednesday in a factory fire in the Philippine capital of Manila, believed to have been caused after sparks from welding equipment ignited flammable chemicals stored nearby. 7. At least 15 workers are trapped underground in a Colombian gold mine after it suddenly flooded. 8. The Vatican has finalised its first treaty that formally recognises the State of Palestine, "which aims to enhance the life and activities of the Catholic Church and its recognition at the judicial level," Reuters reports. 9. Riots in Baltimore, Maryland, over the death of black man while in police custody caused and estimated $9 million (£5.7 million) in damages. 10. Indian Prime Minister Narendra Modi is in China on a three-day visit intended to boost economic ties, although the relationship between the two countries has been strained by a border dispute that dates back to the 1960s. And finally ... Join the conversation about this story » NOW WATCH: This Animated Map Shows How European Languages Evolved  | ||
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Hello! Here's what you need to know for Thursday. Yahoo's head of sales is out just months after he was hired (YHOO) | ||
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Yahoo's head of sales, Kevin Gentzel has left, barely seven months after signing on with the troubled search giant, Digiday reports. He was the main force behind Yahoo's push into native advertising. When Gentzel joined Yahoo last fall, several of his colleagues generally spoke well of him to Business Insider, saying he was "very good with clients" and "very well-connected." One source however, suggested Gentzel was not Yahoo's first choice. Another wondered if he might have been "out of his depth" at Yahoo, citing that Forbes – Gentzel's previous employer – was a $100 million annual business, while Yahoo's revenues charted closer to $5 billion. Several other sources generally praised Gentzel, calling him well-polished, ambitious and super-smart. Gentzel had been seen as an important addition to CEO Marissa Mayer's executive circle. At the time, Yahoo's client relationships were in need of some smoothing over, after Mayer and Yahoo's then-head of Americas Ned Brody attempted to share head of sales duties between themselves. That effort was apparently unsuccessful. Digiday says that in the past few months, ad buyers were still unhappy with Yahoo's products, some of which never managed to "gain big enough audiences to impress advertisers." SEE ALSO: The one thing Bill Gates understood immediately but took 20 years for Steve Jobs to realize Join the conversation about this story »  | ||
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Cisco CEO: It's 'garbage' to think Facebook's and VMware's network projects will hurt Cisco (CSCO) | ||
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Flying high after reporting a better-than-expected quarter, Cisco's outgoing CEO John Chambers had some strong words for the upstarts hoping to take on his company. He said it's "garbage" to believe they will cut into the company's 61% profit margins. Cisco is under attack right now from a new way to build corporate networks known as software-defined networks. SDN uses special software on cheap commodity hardware to connect computers and data centers, instead of the expensive custom hardware and software that Cisco makes. Chambers calls them "white box" or "software-only" products. VMware is the market leader. Even as Cisco was reporting on it quarter, VMware was published a blog post celebrating the progress its made with its Cisco-killer product, NSX, which began selling about 19 months ago.
Now, $50 million is peanuts compared to Cisco's networking business. Cisco's switches brought in $3.6 billion last quarter alone, up 6% over the year-ago quarter. But VMware isn't the only threat. There's also a whole crop of startups selling this kind of networking software many of them led by former Cisco engineering stars. One of them, Cumulus Networks, now has its products being sold by Dell and HP and as part of Facebook's game-changing network switch project. Another, Pluribus, is backed by Yahoo founder Jerry Yang and having success in China, one of the markets where Cisco is particularly struggling. Cisco has responded by building its fastest-ever switch, called the Nexus 9000, for which customers can buy optional SDN software. And Cisco says the Nexus 9000 is selling like hotcakes, that it now has over 2,650 customers for it, and 580 bought the SDN software, too. Still the concern is that Cisco will have to discount its products deeply to compete with the likes of VMware, HP, Dell, Cumulus and Pluribus and others. And that Cisco's famous fat margins will disappear.
Now Chambers says Cisco's results prove that the company isn't threatened at all. "When you have switching revenues up 11% last quarter and up 6% this quarter, it's off the charts," he said adding that two years ago everybody was modeling growth at "zero and modeling our margins to go down." "Our margins on switching have been at the higher end of our range. They've been remarkably consistent for the last eight quarters. So all this garbage about new players coming in, and software coming in, and white label killing our approach was entirely wrong," he said (emphasis ours.) So all this garbage about new players coming in, and software coming in, and white label killing our approach was entirely wrong," He summarized, "We are a cash and profit machine." But that's a bit of whitewashing on his part, too. Buyinge new computing infrastructure isn't like buying a new smartphone or watch. Companies don't lightly yank out their existing networks and replace them with the newest tech. An industry transition like this could take a decade, as companies play with the new tech, add it into their networks and use it more over time. On this same call, Chambers even talked about how it took Cisco itself years to upgrade its own IT infrastructure. Cisco knows this and is moving as fast it can to sell more high-margin IT services besides networking, as well as new areas of networking like the Internet of Things. Still, the threat to Cisco's margins remains real, if not immediate. Join the conversation about this story » NOW WATCH: Here's how Floyd Mayweather spends his millions  | ||
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VMware says it has 400 customers testing NSX, with 70 of them actively using it and more than 50 deploying it in a really big way, spending more than $1 million apiece on it.
Word is that Cisco has grown so worried about these so-called white box competitors that it has quietly built its own line of cheap, commodity "whitebox" switches and signed Facebook as a customer, according to respected network industry analyst, The one thing Bill Gates understood immediately but took 20 years for Steve Jobs to realize | ||
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According to “Strategy Rules,” a book written by two prominent business school professors, David Yoffie and Michael Cusumano, Gates’ ability to quickly grasp the value of an “industry-spanning platform rather than merely products” was what made Microsoft a dominant PC player within a few years. In fact, Gates understood it from the get-go, while it took Apple’s Steve Jobs over two decades to realize it, the book writes. “Bill Gates got it immediately,” Yoffie said, according to The New York Times. “It took Andy Grove 10 years to figure it out, and 20 years for Steve Jobs.” Gates had this in mind when he built the Windows operating system, where third party developers were allowed to create software applications on top of it. By doing so, Windows was able to build a massive software ecosystem that helped it dominate the PC market for years. Intel's former CEO Andy Grove also saw this coming, and soon built microprocessors that were used across multiple industries. Jobs, on the other hand, was always focused on building beautiful products that didn’t necessarily have a big set of partners supporting it like Microsoft did. It wasn’t until 2003 when Jobs realized this and released iTunes for Windows so PC users could start using Apple’s iPod on their computers. Even the first iPhone wasn't going to have a store for third-party applications, but other execs at Apple convinced Jobs open up the iPhone operating system so outside developers could build their own applications on top of it in 2008. “Jobs was always a product first, platform second kind of guy. But he figured it out eventually,” Yoffie said. The authors point out the same thinking applies to the tech leaders of the next generation as well: Google’s Larry Page, Facebook’s Mark Zuckerberg, Amazon’s Jeff Bezos, and Tencent’s Huateng Ma all have a deep understanding of “platform thinking,” they said. SEE ALSO: These 15 tech company logos have changed drastically since they started Join the conversation about this story » NOW WATCH: We did the math: Is Uber really cheaper than a taxi?  | ||
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Bill Gates may have been late to the smartphone game, but there’s one thing he understood way faster than some of his peers: the importance of a platform and ecosystem. THE PAYMENTS INDUSTRY EXPLAINED: The trends creating new winners and losers in the card-processing ecosystem | ||
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The payments industry had a huge year in 2014 and it's showing no sign of slowing down. On the one hand tech giants like Amazon and Apple released new products that affirmed their long-term payments ambitions (Apple Pay and Amazon Local Register). On the other hand startups such as Stripe and ShopKeep continued to carve out market share, challenging older players like PayPal and VeriFone. Understanding this complex and rapidly evolving space can be challenging. In a new explainer, BI Intelligence offers a high-level look at the payments industry — how it functions, who the key players are, and the trends shaping the industry. We start by explaining payment-card processing, since the majority of consumer payments and transaction volume flow through this system. From there we take a look at how consumers' move to mobile devices is changing the way we pay, and which players stand to benefit. Here are some of the key takeaways:
In full, the report:
 THE PAYMENTS ECOSYSTEM $995.00 Join the conversation about this story »  | ||
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People around the world are misusing their iPhone because they’re afraid of breaking it | ||
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We first encountered this trend after talking to a Chinese tourist on the subway in New York, who said everyone he knew used AssistiveTouch. When we looked it up online, we found many reports of rampant use in China. Although some say they use it for convenience, most agree that the Chinese use that feature — which allows you to access many commands through a floating on-screen button and without pressing hard buttons — for fear of breaking their phones. Here's the tourist in action: The rumor is so widespread that some vendors in China tell users to use AssistiveTouch all the time. As Wang Yijie writes on Quora: "Several years ago people began to complain about their home button being easily broken and it has somehow been a widely recognized truth, so even the home buttons are not that easy to be broken, they tend to use AssistiveTouch instead. When you buy an iPhone in China the salesman would automatically turn on this function while helping you to do the settings." When we called this a Chinese trend, however, we were deluged by comments and emails about how people do this around the world. "This seems to be used by most people in Vietnam as well. Perhaps it's use is universal across Asia," commented tom1295. "Same here in the Philippines," commented Nixon. "All Asians do it, not only the Chinese, but also Singaporeans, Koreans, and Japanese," commented Miguel Mateo. "Not only Asia, but here in Brazil it's pretty usual for people to use Assistive Touch. The main reason is that the home button breaks relatively easy," commented LeoB. "That's true. Also happens in Brazil," Luiz Santana commented. "In Brazil this is also fairly common between iPhone users," commented diogonovaes. "I think Apple's smartphones are so expensive here that most people hold on to them for as long as possible." "This is actually very common in Brazil, too, where iPhones are even more expensive than in China or Europe. Mostly teens are seen activating this accessibility feature — even if they don't need it — to 'save' the home button and avoid costly repairs," commented smenezesbr. "People in this entire region treasure their iPhones and use them in this way so as to be as delicate with them as possible," Ron Wilson added about South America. "The intensity of their use of the home button combined with their pride of ownership has led to this type of behavior becoming commonplace." "AssistiveTouch has been used all over Latin America, especially in Peru. I discovered AssistiveTouch very early while reading everything I could about iPhone; thousands of users like me began using it because we did not had the opportunity to replace it due to lack of post-sale technical support in this part of the world," commented Walter Cabanillas. Concerns about customer service appear to be a major reason for this trend. "Although Apple's customer service is pretty good in China, most Chinese are used to crappy service and no-return policies from Chinese businesses. So, they try to avoid having their expensive iPhone quickly having issues," commented Rex Remes. J. Blair pointed out the same in an email: 1. Fixing cost of the Home button is very expensive (to most Chinese iPhone owners) Thus it seems that iPhone buyers around the world — perhaps particularly in emerging markets — are terrified about breaking them and thus use them far differently from how they were designed. This trend is worrying or at least strange for Apple. "[F]or a company that is looking to China as its largest market it is worrying that the primary interface feature on their flagship product induces a workaround behaviour for perceived risk of breaking," writes consultant Jan Chipchase on Medium. It's true that some people (including the tourist on the train) say they use AssistiveTouch as a matter of convenience. "A lot of people use it here in Austria as well. I personally don't use it but A LOT of people do. I saw people in France use it on my travels and some tourist.... Apparently it's quite handy :)” Davor Trnovljakovic wrote by email. "iPhone's assistive touch has heavy usage with young Chinese bc of a generation that grew up without hard keys. Remove the buttons," Shanghai-based designer Brandon Berry tweeted. "[M]ost intriguingly it suggests that consumers can do without the button," wrote Chipchase. "From that starting point new interfaces are born." When we tried the feature (turned on via Settings / General / Accessibility / Interaction), however, we found it fun but not very useful. Indeed, pretty much anything you can do with AssistiveTouch you can do faster by pressing hard buttons or swiping the screen. Yet millions of people around the world use that special accessibility feature every day for fear of breaking their iPhone. Disclaimer: I'm an Apple investor. SEE ALSO: Another former Android user is shocked by how good the iPhone is Join the conversation about this story » NOW WATCH: Kids settle the debate and tell us which is better: an Apple or Samsung phone  | ||
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There's an old rumor that iPhone home buttons break easily, and it's causing millions of people to use an obscure accessibility feature called AssistiveTouch to avoid pressing them.
Cisco's outgoing CEO John Chambers just told this amazing story about himself (CSCO) | ||
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Cisco CEO John Chambers shared an insightful story about himself during the company's quarterly conference call, his last as CEO after 20 years. He's retiring in July to become executive chairman. Cisco had just reported a good quarter and Chambers was in high spirits. He finished the call with a story intended to illustrate just how hell-bent competitive he can get, and also, perhaps, to show that even though he's 65 and semi-retiring, he's not over the hill yet. "I ran today and I was determined to set my new course record when I ran. But I got stopped in the first half – I've never seen this before in my life – the biggest buck I've ever seen. It was probably a 12-point, maybe 14-point," he said. (The points refer to the individual tines of the buck's antlers, a bit of hunter-speak. Chambers grew up in West Virginia.) "He was right in my path, 10 feet from me. I looked him right in the eyes. At first, I was annoyed because I wanted to set my time. Then I realized, I wanted to enjoy the moment," he said. "But I missed my time, didn't make it by 10 seconds." The amazing thing about this story is that a stag is also a symbol in some cultures of a pivotal life change or a fresh start and beginning. Think of the "Firebird Suite" sequence in the 2000 remake of Disney's Fantasia. A Hollywood film depicting Chambers' life couldn't have picked a better symbol for his last quarterly conference call. SEE ALSO: What Cisco employees think about their new CEO Join the conversation about this story » NOW WATCH: This simple exercise will work out every muscle in your body  | ||
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Veterans of Google's PR army now control the messaging at Silicon Valley's most important companies (GOOG, FB, YHOO, TWTR) | ||
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Google SVP of communications and policy Rachel Whetsone is jumping ship to Uber, where she will oversee similar functions for the fast-growing ride-sharing company. Whetstone's move caught many by surprise. Google and Uber have become increasingly competitive. And Whetsone is a veteran Googler who has been with the Internet company since 2005. But Whetsone's move is just the latest — although one of the highest-profile —examples of Google's redoubtable public relations army dispersing across Silicon Valley's elite companies. Veterans of the Google communications team now control the messaging, the spin and the access to executives at tech companies including Facebook, Twitter, Snapchat ,and Yahoo among others. Google's vast size and the breadth of hot-button issues that touch its business everyday, from privacy to mobile technology, and from competition regulation to China, provide a veritable boot camp for modern business communications and policy that few other companies can match. Here is a list of the Google PR vets who now craft the corporate narrative for Silicon Valley's most influential firms, based on their LinkedIn profiles and on news reports.
Join the conversation about this story » NOW WATCH: This simple exercise will work out every muscle in your body  | ||
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This is the man behind the controversial 'Craigslist for hackers' | ||
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Earlier this year the internet went ballistic over a website called Hacker’s List. It offered an online posting board for hacker jobs. The website description reads, "At Hacker’s List we want to provide you with the best opportunity to find your ideal hacker and for professional hackers around the world to find you." The New York Times was the first to find the website, and the popularity of Hacker's List reportedly exploded. "In less than three months of operation, over 500 hacking jobs have been put out to bid on the site, with hackers vying for the right to do the dirty work," The Times’s initial report said. Now the man behind the website has come forward, according to a new New York Times article. His name is Charles Tendell, and he is a 32-year-old computer expert from Denver. Business Insider spoke with Tendell about his project. Tendell has been in the computer security business for years. "I’ve always been passionate about computer security and forensics," he said. Adding that he’s done computer security work for numerous big names including US Air Force, Boeing, and Lockheed Martin. In 2006 he started his own cybersecurity firm in Denver called Azorian Cyber Security. Azorian performs security consulting for both government agencies and enterprises. But Tendell believed that there was no place for consumers to seek out such services.
"That’s Hacker’s List," proclaimed Tendell. "You hear about the Sonys, you hear about the Anthems," the cybersecurity expert went on. "But people are losing their Facebooks, losing access to their phone." Hacker’s List, then, is a way for freelance computer experts to offer these types of penetration testing services on a freelance basis. So he built a website for "employers" to post jobs they want done, which can then be claimed by "hackers." When a job is completed the hacker can get rated. It's like a TaskRabbit for computer geeks. When first discovered, Hacker’s List was met with a great deal of controversy. At first glance, its services seem identical to an underground Craigslist. Anyone could seemingly post any sort of hacking job they wanted done. Tendell countered that every job must be legal. While individual tasks aren’t reviewed and monitored when they are first posted, in order for a job to be completed both the hacker and the employer must provide documentation that all parties involved consented. And everything done has to be wholly lawful. After a service agreement is made, both parties must sign legal documentation asserting that what they did was kosher. Additionally, any account being hacked must be given express consent from the account holder. It seems like this process could be fudged. I gave Tendell the example of a jilted boyfriend looking to hack his ex-girlfriend’s email. This boyfriend could theoretically say he has permission from his ex to gain entry into her accounts; All the boyfriend has to do is forge a document with her signature. "You just signed a legally binding document stating that you have authorization to do what you’re doing," replied Tendell. "If you’re lying, all of the legal ramifications will fall on your shoulders." So it may be possible to for a hacker to do some nefarious deeds, but their real names are tied to it. Already Tendell has had to both nix a few proposed projects as well as refuse to pay hackers for performing seemingly illegal acts. He maintains that the moment it becomes clear that an employer or hacker is setting out to do something unethical, the website will simply not permit it. Thus far Tendell said that Hacker’s List has seen about 250 hacks performed. The early coverage gave it some fame, but at a time when the website hadn’t quite figured out how it would operate. When first discovered it was just "an idea." It wasn't completely fleshed out. The story broke and he realized that he actually had to figure it out. Now, five months later, Tendell believes he has figured out how to make the Hacker’s List program work. He asserted confidently, "We’ve got our processes down." Join the conversation about this story » NOW WATCH: Here's how Floyd Mayweather spends his millions  | ||
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It costs a lot of money to pay for a security company to test how secure you are. Most enterprise companies shell out tens of thousands of dollars to perform what are called 'penetration tests,' which are when hackers intentionally try to breach companies to discover security holes. But if an individual person wants hire an "ethical hacker," there’s no avenue. THE GLOBAL 20: Twenty big stories that define the world right now | ||
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We live in a complex, ever-changing world, with several opportunities and dangers ahead of us. We've taken a closer look at 20 of the most important economic, political, environmental, and social themes that define the state of our world and its future. China's rise and its challenges, the emergence of robotics as a major economic force, Greece's fiscal woes, and the threat posed by a warming climate are among the most important things happening in the world today.   Image: Reuters  See the rest of the story at Business Insider  | ||
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How to painlessly switch from Android to the iPhone (GOOG, AAPL) | ||
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Android and iOS are different in many ways, but switching between the two doesn't have to be painful. If you're planning to ditch your current Android phone, the good news is you'll be able to transfer your contacts, photos, and almost everything else to your new iPhone. Here's a quick overview of what you can transfer, what you can't, and how to get started. Switching over your email accounts The iPhone supports the same mail clients as Android, so you should be able to seamlessly transfer all of your email accounts. You can download Gmail, Microsoft Outlook, Yahoo Mail, and Aol Mail all from the App Store. Or, you can login to any of these email accounts through Apple’s default Mail app.
Moving your photos and videos using the cloud Services like Google Drive, Dropbox, and OneDrive let you store photos and videos in the cloud so that you can view them on any device. All three of these apps work across iOS and Android too, so all you need to do is back everything up to the cloud service of your choice on your Android phone, download the app on your new iPhone, then download to the new phone.
Transferring your photos and videos manually through iTunes If you don’t want to do this through a cloud service, you can also load all of your photos onto your new iPhone through iTunes on your computer. First you’ll need to plug your old Android phone into your computer using the USB charging cord it came with. If you’re using a PC, you should be able to click on your Android phone once you plug it in, the same way you would find an external hard drive. If you’re using a Mac, however, you’ll need to download the Android File Transfer app, which lets you browse and drag-and-drop files from your Android phone to your Mac.
See the rest of the story at Business Insider  | ||
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John Chambers just squashed the rumor that Cisco is buying FireEye for $8 billion (CSCO, FEYE) | ||
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Shares of security company FireEye spiked today due to rumors that Cisco was in talks to buy it for $8 billion. But that acquisition isn't going to happen, Cisco John Chambers hinted to Wall Street analysts during the company's annual conference call. This is Chambers' last quarterly call as CEO, after 20 years leading the company, and the quarter was good. As such, a cheerful Chambers repeatedly said, "I'm breaking one of my rules about talking about ..." and then talked. In one case, he basically squashed the FireEye acquisition rumor. After saying the company "never" comments on rumors and speculation, he then said, "I wouldn't bet on the one you heard today." It looks like news of that acquisition talk came from a financial chat site Seeking Alpha who reported "unconfirmed market chatter that Cisco has made a $9B bid for FireEye." FireEye's market cap was at $6.7 billion. FireEye's stock price is dropping after hours with this rumor squashed, down about 4%.
SEE ALSO: A computer engineer describes five ways learning his job made him incredibly insecure Join the conversation about this story » NOW WATCH: This simple exercise will work out every muscle in your body  | ||
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New Yorkers spend the bulk of their AirBnB income on rent | ||
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AirBnB has a new report out, showing how the service helps the economy of New York City. In it, there's a chart about how the average AirBnB host spends the money that she makes on her listing. It breaks down like this:
More than half of the money goes to housing costs. The second-largest chunk goes to vacation (presumably outside of the city). That means that most AirBnB revenue is transferred to other cities and NYC landlords. Is AirBnB good for New Yorkers? On the one hand, a lot of people can afford their rent better than they would otherwise be able to. On the other hand, it's possible that AirBnB is indirectly driving up rents in Manhattan and Brooklyn (where most of the listings are located), making it harder for everyone else to live in the city. There's an argument that AirBnB allows people to rent out their *extra* space. However, housing costs in the city are such that not many people actually have extra space that they wouldn't, without AirBnB, rent out to a longer term roommate (or move out to a smaller place, allowing new people to fill the larger space). AirBnB says that its service allows a lot more visitors to come to the city at a cheaper price, and they end up spending more than the average hotel tourist while they are in town. That's probably good. But space constraints are space constraints, and more tourists without more hotels mean fewer residents — and higher rents. Join the conversation about this story » NOW WATCH: This simple exercise will work out every muscle in your body  | ||
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Nintendo is bringing its classic gaming competition back from the dead (TYO) | ||
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Nintendo is trying to drum up hype before next month’s Electronic Entertainment Expo, the world’s biggest showcase for all the big consumer games coming out in the next year. So, in the lead-up to that event, the Japanese gaming company is bringing back the “Nintendo World Championships,” which hasn’t been a thing in 25 years. Nintendo announced the news in a goofy video, where Nintendo of America president Reggie Fils-Aime plays a bunch of old Nintendo games to train for the two-week-long gaming tournament starting in late May.
If you have no idea what the Nintendo World Championships are, don’t worry. I had never heard of them until watching Nintendo’s video.
Only Nintendo diehards remember the 1990 Nintendo World Championships, the first and only time Nintendo held a cross-country competition to find the best Nintendo gamers in the US. (Ignore the fact it's called "World" Championships, not "US" Championships.) Nintendo toured various US cities and had local players test their skills by playing certain portions of major Nintendo games like “Super Mario Bros.” and “Tetris,” which were all crammed into a specially-made gaming cartridge for these events. The winners of the local contests were flown out to Hollywood to compete against players their own age to win incredible prizes, including a 40-inch TV and a Geo Metro convertible! Wowza!
That final championship event will be live streamed online. Nintendo says it will offer more details about the Nintendo World Championships in the coming weeks, including which games will be played and the possible prizes. The short-term goal of the event is to build hype for E3, which begins two days after the Nintendo World Championships end. On June 16, Nintendo will hold its “digital event," which will presumably include a ton of announcements about the Wii U and 3DS handheld. Nintendo did something a bit similar last year: It held a “Super Smash Bros.” invitational tournament before E3 began, and decided to forgo a formal press event in favor of one of these “digital events.” Still, if popular, Nintendo might consider making its World Championships an annual event. Competitive gaming, also known as eSports, is becoming incredibly popular in the US, and this would be a great way for Nintendo to celebrate this particular demographic while showcasing some of its classic games. Personally, I can't wait to learn more about this tournament, and watch the June 14 tournament.
SEE ALSO: 'Destiny' keeps getting better as Bungie listens to fans: Here are the big new updates Join the conversation about this story » NOW WATCH: 11 Video Games From The 1980s That Are Better Than Games Today  | ||
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Nintendo is pretty mum on details for this year’s World Championship — all we know is that qualifying rounds will begin May 30 at Best Buys in major US cities, and the winners from those events, as well as a few invited competitors (probably the winners from the 1990 World Championship, and maybe some surprise guests), will compete at the Nokia Theatre in Los Angeles on June 14 to be crowned “Nintendo World Champion.”
Here’s how hard it is to make a killing in venture capital | ||
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There was a time when it was rare for a startup to reach the exclusive “Unicorn” club, the term given to startups worth more than $1 billion. But times have changed, and unicorns have become a lot more common lately. According to research firm CB Insights, there are a total of 99 startups valued at more than $1 billion, with nearly 40 of them joining the unicorn club in 2014 alone. In 2015, CB Insights predicts there will be 50 new unicorn startups. But it's also worth noting that the combined value of all the unicorns is still less than the market cap of Facebook (as of April 2015). As seen in the chart below by BI Intelligence, based on CB Insights’ data, Facebook out-values the unicorns by almost $20 billion. This means at least one or two of these unicorns will likely blow up eventually and get to Facebook or Google's status. But this is also a sign that it's extremely difficult to make a killing in venture capital. Some of these unicorn startups will likely wind up failing to reach these lofty expectations, and "vaporize" when the market turns, as famed VC investor Marc Andreessen once warned.
SEE ALSO: This chart shows one big reason why Verizon just spent $4.4 billion on AOL Join the conversation about this story » NOW WATCH: Kids settle the debate and tell us which is better: an Apple or Samsung phone  | ||
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Hong Kong street stalls hang on under the skyscrapers | ||
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Hong Kong (AFP) - Cheap, fast and frills-free. Hong Kong's street restaurants have served up well-loved favourites from beef brisket to toast with condensed milk from roaring curbside burners for decades. But the cheerful stalls -- known as dai pai dongs in Cantonese -- have dwindled to fewer than 30 in the city of seven million people, where they thrived after the Second World War before red-tape hurdles set in. Offering the rare chance to eat outdoors, escaping the Asian financial hub's air-conditioned high-rises, the eateries are a nostalgic throwback to Hong Kong's past. With no walls, cooks in the open, customers on plastic stools, melamine plates and bunches of chopsticks in tabletop jars, its a no-fuss formula that still draws customers day and night. "I feel more comfortable sitting here in a dai pai dong. There is no restriction, I can talk about childhood or I can smoke here," said Lau Yat-keung, 61, at a buzzing tarpaulin-covered stall in the working-class suburb of Sham Shui Po. "There is no reason to go to those fast food chain restaurants. Young people there think you are out of date," he added over a table of beers.
- 'Future not optimistic' -
A few remaining strongholds still serve up homely Cantonese favourites: steaming bowls of noodle soups, strong milk tea, and french toast sandwiched with peanut butter. It's simple fare that's easy on the pocket: diners can fill up on a plate of tripe or roast goose with rice for around $5 (4.40 euros), noodles with luncheon meat and egg for just over $3, or toast from only $1. But their hey-day is long gone. Following a post-war spike as mainland China arrivals drove up the British colony's population, concerns over obstructions, nuisance and hygiene grew. The former government stopped issuing new licences decades ago and heavily restricted permit transfers. Owners were also paid to voluntarily give up their licences. Today, just 24 dai pai dongs remain, a decline that authorities attribute to "natural attrition". Facing calls for more to be done to preserve the stalls, the government targeted those in the skyscraper-encircled Central district five years ago to improve hygiene. Services were beefed up with the laying of gas and new water pipes, electric cabling, waste water discharge pits and the road was resurfaced. Owners in turn revamped stalls that swell at lunchtime as dishes roll out of pint-sized cooking areas. Restrictions on licence transfers, once to spouses only, were also relaxed. But uncertainty remains elsewhere. "The future of dai pai dong is not optimistic" said Tsang Yau-lin in Sham Shui Po, whose black-and-white family photographs show the long history of the business first started by her father in the 1950s across the harbour. "In the future two or three years, buildings around here will be destructed and dai pai dong will hold up the interest of some groups. So I think the dai pai dong will be relocated by the government to avoid obstructing construction."
- Michelin to tarmac -
Home to thousands of restaurants from fancy to bare-boned, Hong Kong has 64 Michelin guide listings and some of the world's best-known chefs have opened shop. But at the tarmac stalls, folding tables and overhead fluorescent strips or bare bulbs are part of the ambience, where fresh razor clams may sit in a bucket on the floor before cooking as someone lights up at the next table. Cooked food centres with off-street eateries have sprung up around Hong Kong in multi-storied buildings that also house fresh goods markets and hawker stalls. But some argue the friendly outdoor dai pai dongs and their roaring woks are a unique part of the city's history and character -- and should be conserved. Chong Yuk-sik, who wrote a book on their history, believes that the government is letting them die out. "I think we should treasure our local culture otherwise we're just like other cities. How to keep Hong Kong unique? I think dai pai dong is one of the ways," she argues. For regulars in the street stalls, the hope is that these colourful eateries will survive the march of modern Hong Kong. "They make good food but now they've really disappeared," said fan Ruby Woo, tucking into a post-work bowl of squid ball noodles.
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Greece wants ECB bond pushback | ||
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Athens (AFP) - Greece wants the European Central Bank to agree for Athens to delay payment on some 27 billion euros ($30 billion) in Greek bonds that it will otherwise be unable to repay, the finance minister said Thursday. "It's quite simple, these bonds must be pushed into the future, this is clear also to the ECB," Yanis Varoufakis told a conference. The Greek bonds were part of a batch purchased by the European Central Bank in 2010 and 2011, Varoufakis said. Athens in July and August is already scheduled to repay over 6.0 billion euros to the ECB from the same bonds, Varoufakis said. "The finance ministry will have to borrow from our peers, in some way, to repay them," he said. Varoufakis has warned that the country risks running out of cash within two weeks if no deal is reached with its creditors to unlock the last tranche of aid funds. Four months of deadlock between Greece's radical Syriza-led government and its EU-IMF creditors over the reforms needed to release a final 7.2 billion euros in bailout funds has generated concerns Athens is running critically short of cash and may soon end up defaulting, setting off a messy exit from the euro. Pro-government daily Avgi on Thursday said Greece was hoping to secure a deal before a 302.5-million-euro repayment to the International Monetary Fund on June 6. Athens is hoping to arrange a meeting of eurozone finance ministers to green-light an agreement by May 25, the daily added. Join the conversation about this story »  | ||
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A flaw in the Apple Watch leaves it absurdly vulnerable to thieves (AAPL) | ||
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A lack of security features in the Apple Watch has left the device extremely vulnerable to thieves, iDownloadBlog has found. The iPhone and other modern smartphones come with "kill switches" and security features that can stop potential thieves from using the device — essentially rendering it useless if stolen. Since their introduction, these features have massively disincentivised smartphone theft, as thieves learn it will be difficult to sell the devices on afterwards. But Apple's new smartwatch has no such built-in measures — and it's trivial to reset the wearable and pair it with a new iPhone. iDownloadBlog have put together a video showing the process. In less than a minute, without needing to enter a password, anyone can reset the Apple Watch to factory settings, and then pair it with their own iPhone, ready to use. This won't allow them access to the owner's data — but the majority of users' information tends to be stored on their iPhone anyway. Additionally, the Apple Watch has no GPS hardware of its own — it is reliant on the GPS tracker in the iPhone. This means if it is stolen, unlike the iPhone, you cannot track its whereabouts. Here's how the vulnerability works. First, you long-press the power button on the right to bring up the shutdown settings.
Then, hold down on "Power off" to bring up an option to "Erase all content and settings." This works even if the passcode hasn't been entered.
Once connected to a power source, it then double-checks one last time.
Click the tick, and the device will wipe itself and reset, ready to be paired with the thief's iPhone.
Here's the video:There's documented evidence showing that "kill switches" work to discourage theft. In February 2015, Reuters reported that over the past 12 months, theft of smartphones around the world had plummeted due to the inclusion of advanced security features blocking thieves from using stolen devices. In San Francisco, the number of stolen iPhones was down 40%. In London, theft was cut in half, according to officials, as thieves apparently realised there is little point, and stopped bothering. But for now, however, the Apple Watch is fair game. Join the conversation about this story » NOW WATCH: Forget the Apple Watch — here's the new watch everyone on Wall Street wants  | ||
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Australia relish England Pietersen chaos as Ashes loom | ||
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Sydney (AFP) - Australian cricketers are in shock over Kevin Pietersen’s banishment from the international game and delighted they won't have to face him in this year's Ashes series. Pietersen, England's leading all-time run-scorer across all formats, has been told by new director of cricket Andrew Strauss that he is "not part of our plans for the summer", despite smashing a triple century for Surrey this week. Strauss cited a "massive trust issue" between the England and Wales Cricket Board (ECB) and the controversial batsman, 34. Australian players are bemused by the saga, while relishing the ongoing drama distracting their arch-enemy ahead of the Ashes, beginning in July. "I know that Strauss and him probably don’t get on, (but) I’m not going to believe it until we get over there and they pick their squad,” paceman Ryan Harris told Cricket Australia’s website Thursday. "If he keeps going on and playing for Surrey, he may quit now, but if he keeps going and scoring hundred after hundred there’s going to be a lot of pressure to pick him." Harris said he would be very happy if he does not come face to face with the South African-born batsman. "Of course, absolutely. He’s a bloody good player and one of the hardest to bowl to, I find,” he said. "In saying that, when you play sides like England you want the best players playing -- especially when we beat them, you want to beat the best team." Harris's fellow quick Peter Siddle, who has dismissed Pietersen more times (10) than any other bowler in Test cricket, is also rejoicing at his absence from the coming series. "You can’t find someone to replace him," Siddle told reporters in England, where he is playing for county side Lancashire. "I think those players are once in a lifetime, with their confidence and aggression. A bloke that averages 50 in Test cricket. I’m happy enough to have out of the side."
- 'Proper stitch-up' -
All-rounder Glenn Maxwell, who played alongside Pietersen for Melbourne Stars in Australia's Twenty20 Big Bash but is not in Australia’s Ashes squad, was up in arms over Strauss’s decision. "That is what you call a proper stitch-up," he tweeted, referring to Pietersen pulling out of the Indian Premier League after being told by new ECB chairman Colin Graves he must play county cricket and score runs to be in with a chance of playing for England again. Test leg-spin great Shane Warne was equally stunned. "If Strauss wanted instant public acceptance and the whole country to support Eng again, he should have said, 'I want KP back in the team'," he tweeted. Warne added: "Question, will the ECB only employ a new coach on the proviso he doesn't want KP in the team ? Gillespie or (Justin) Langer would have wanted KP!" Former Australian fast bowler and now Yorkshire county coach Jason Gillespie has been linked with the vacant England head coach's job, with Langer's name also mentioned. Warne's former Australia teammate Matthew Hayden was equally scathing about the ECB's decision and claimed it would damage their chances of finding a new coach of substance after Peter Moores was sacked. "You'd be crazy to apply for the England coach's role because with a director, you are the man the establishment is going to kick," he told the BBC. "I think England are entering into a very dangerous space. They have been in a perilous position for the last six months and they are going into very deep times now with an absolutely on-fire New Zealand team and a really revengeful and very in-form Australian team too."
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The 10 things in advertising you need to know today | ||
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Good morning. Here's everything you need to know in the world of advertising today. 1. Yahoo's head of sales is out. Kevin Gentzel has left barely seven months after signing on with the company. 2. The final ever trailer for "Mad Men" has been released. It's quite a nostalgic, weepy affair. 3. Mobile ads are sucking up 10-50% of consumers' data plans, according to a startup called Shine. It has developed a mobile ad blocker — and claims to have the support of major carriers, which means the software could become hugely popular. 4. Google has lost its PR boss to Uber. It comes at a time when the two companies are increasingly becoming rivals. 5. Netflix says live sports and award shows are going to be the "saving grace" of TV. Ted Sandaros, Netflix's chief content officer says linear TV is going to become "even more linear." 6. Wal-Mart is launching a subscription shopping service to take on Amazon. It will cost $50 a year, less than Amazon Prime. 7. Ad tech company Rocket Fuel has rejected a $350 million takeover bid from rival firm Gravity4. Rocket Fuel said the offer was not "credible." 8. Twitter just made it harder to figure out how many inactive users it has. The company has stopped disclosing the percentage of its users who take "no discernible user action" on the app, making it harder for observers to figure out whether its core user base is growing or dying. 9. There's a new ad out for the new McDonald's Hamburglar. It's kind of weird. 10. A stay-at-home mom who makes t-shirts in her garage has accused Target of stealing one of her designs. It's for her most popular shirt, a black tank top with an American flag and the hashtag #merica on the front. Join the conversation about this story » NOW WATCH: Sallie Krawcheck: Here's What Companies Must Do To Shatter A 'Mad Men' Office Culture  | ||
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ITV staff are protesting for more money as the broadcaster reports it's losing viewers | ||
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The revolt comes as ITV reported a 14% rise in revenue in the first quarter Thursday morning. The results this morning also reveal that the broadcaster is losing audience share. Viewers fell from 15.6% this time last year to 14.7%. This could put a squeeze on advertising revenues. ITV shares are down 1.5% this morning. Join the conversation about this story » NOW WATCH: Stunning video captures Vietnam like you never seen it before  | ||
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ITV staff are staging a 24-hour strike over pay Apple is bringing back parts of its long-dead 'Ping' social network for its new streaming service (AAPL) | ||
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Apple is going to include features salvaged from its dead social network Ping in its new streaming service, 9to5Mac reports. The new beta version of iOS, Apple's mobile operating system, accidentally included an option in settings that refers to "Artist Activity" in the music app. 9to5Mac says that the setting is a clue to social network features in Apple's streaming service. Apple's streaming service, which is reportedly named "Apple Music," will let musicians communicate with their fans by posting samples of tracks, photo, videos and also tour dates. Fans will be able to like and comment on posts, but won't be able to create their own profiles. That's a big difference from Apple's previous attempt to build a social network. Apple launched a social network called Ping in 2010, and Steve Jobs called it "sort of like Facebook and Twitter meet iTunes." But Ping never took off, and Apple shut it down in 2012.
Ping was a rare failure for Apple. It prides itself on building features that users flock to, but people simply didn't care about Ping. Apple is having another go at building a social network for musicians, but there's no telling whether it's going to fare any better this time around. Join the conversation about this story » NOW WATCH: 5 cool tricks your iPhone can do with the latest iOS update  | ||
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The voice actor behind Ned Flanders, Mr. Burns, Skinner, and many more characters just quit 'The Simpsons' | ||
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The voice actor behind some of the most popular and iconic characters in "The Simpsons" has quit, The Verge reports. Harry Shearer, who is responsible for voicing Ned Flanders, Principal Skinner, Mr Burns, and numerous more characters on the popular cartoon has left the show, a message posted on his Twitter profile confirms. "Show will go on, Harry will not be part of it, wish him the best," says another statement on Shearer's Twitter profile, apparently written by Simpsons producer James L. Brooks. Shearer says: "This because I wanted what we've always had: the freedom to do other work." Hollywood Reporter has additional details on the contract dispute, saying that Shearer was "the lone cast holdout in the latest round of negotiations."
Here's a clip of Shearer doing the voices of, Mr. Burns, Smithers, Ned Flanders, Principal Skinner, Rainier Wolfcastle:Join the conversation about this story »  | ||
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The loss of Shearer will be a huge blow to the long-running cartoon, now into its 26th season. Some of the most recognisable characters Shearer voices includes: The final trailer for 'Mad Men' is quite a nostalgic, weepy affair | ||
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| "Mad Men" finally comes to an end this weekend, with the seventh and final season's finale airing on Sunday May 17 at 10pm on AMC. To celebrate/commemorate AMC has put out one final ad building up to the finale, which looks back at all the memorable moments from the show. We first spotted it on Vulture. The trailer is set to Paul Anka's "Times of Your Life," which The Wall Street Journal points out is "fitting," considering it was also made famous by the 1970s Kodak ad campaign (and who can forget Don Draper's memorable Kodak "Carousel" pitch in the very first season of the show?) And it also turns the spot into a bit of a tear-jerker, as it chronicles Sterling Cooper and the Draper family's best — and most emotional — bits. Join the conversation about this story » NOW WATCH: How the stars of AMC's blockbuster 'Mad Men' have changed over the years  | ||
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Anger as Philippine factory fire kills 72 | ||
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Manila (AFP) - Seventy-two people died in a huge blaze at a footwear factory in the Philippine capital, authorities said on Thursday, as angry relatives and workers described sweatshop conditions including dismal fire safety standards. Firefighters and police pulled dozens of corpses out of the ruins of the two-storey building on Thursday, a day after the blaze trapped the terrified workers with apparently few exits and no fire safety training. "Many of those retrieved were reduced to skulls and bones," national police chief Leonardo Espina said during an emotional press conference, as local authorities confirmed 72 people had died. "Someone will definitely be charged because of the deaths. It doesn't matter if it's an accident, people died. Right now, we are investigating to clearly define what happened. For sure, someone will be charged." Sparks from welding equipment used to repair a broken gate are believed to have caused the fire when they ignited flammable chemicals stored nearby. By early afternoon on Thursday, 72 bodies had been pulled from the gutted building, Valenzuela mayor Rex Gatchalian told AFP. He said he believed this would be close to the final death toll, as the figure matched the number of people missing. The building, among a long row of factories in the rundown district of Valenzuela on the northern edge of the Philippine capital, made cheap slippers and sandals for the local market. The footwear had names such as "Havana" that sound like well-known global brands, company employees said.
- No safety standards -
The factory workers toiled for below minimum wage while surrounded by foul-smelling chemicals and were not aware of fire safety standards, survivors and relatives said. "The families can't help but be angry about what happened. We will never forget this," Rodrigo Nabor, whose two sisters were inside the factory and remain unaccounted for, told AFP. Nabor was among relatives of factory workers waiting for body bags at a village hall that had been converted into a makeshift morgue. "I've lost hope that they survived," said Nabor, 31, who works at a nearby plywood factory. "I can't explain how I'm feeling. I didn't sleep at all last night. I just kept walking around the factory hoping for news." Nabor said his sisters, Bernardita Logronio, 32, and Jennylyn Nabor, 26, often complained of foul-smelling chemicals in their workplace. "They said they keep an electric fan on to drive some of the smell away," he said. Nabor said their pay depended on how many sandals they finished, which could be as little as 300 pesos ($6.70) a day. Nabor's sisters each had a young child. One survivor, 23-year-old Lisandro Mendoza, said he escaped by running out the back door, but that the company had not conducted any fire safety education or drills during his five months working there. "We were running not knowing exactly where to go," said Mendoza. "I was having lunch when I saw smoke coming from the front, then I just ran and kept running." Mendoza said he worked 12-hour days, seven days a week, for 3,500 pesos ($79), mixing chemicals. "It's a very foul smell. I can still smell it even if I have one face mask on top of the another," he said. Another survivor, Janet Victoriano, also described lax fire safety standards. "I had never been involved in a fire drill ever," Victoriano, who had worked at the factory for five years, told DZMM radio. Victoriano said she was able to escape because she was near the front door when the blaze started. Deadly fires regularly rip through the poor areas of the Philippine capital, but mostly in shanty homes where there are virtually no fire safety standards. In the deadliest fire in Manila in recent times, 162 people were killed in a huge blaze that gutted a Manila disco in 1996. Join the conversation about this story »  | ||
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Burundi coup leaders claim in control of most of capital | ||
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Bujumbura (Burundi) (AFP) - Coup leaders in Burundi claimed Thursday to be in control of most of the capital Bujumbura, a day after a top army general said he had deposed President Pierre Nkurunziza. "We control virtually the entire city. The soldiers who are being deployed are on our side," coup spokesman Venon Ndabaneze told AFP during a lull in fighting mid-morning. Join the conversation about this story »  | ||
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UKIP is imploding | ||
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The UK Independence Party (UKIP) appears to be crumbling, less than a week after it secured an astonishing 13% of the national vote in the British General Election. Patrick O'Flynn, the party's economic spokesman and an MEP, described UKIP leader Nigel Farage as a "snarling, thin-skinned, aggressive" man on Thursday and warned that the party risked becoming a "personality cult." The savage attack comes after Farage returned as leader following the rejection of his resignation by the UKIP National Executive Committee. He had previously said that it would be "frankly not credible" for him to lead the party if he failed to become a member of parliament, yet since his loss to the Conservatives in the South Thanet constituency he seems to have shifted his stance. (A Breitbart report also alleges that Farage "forced UKIP's National Executive Committee to refuse his resignation.") O'Flynn is far from the only senior party member to express their concerns. The Daily Mail quotes a senior party figure as saying: "Nigel's two closest aides, (party secretary) Matt Richardson and (chief of staff) Raheem Kassam are out of control." Just a week after the party's most successful election ever, signs of inexperience and dysfunction that many had expected to become apparent during the campaign have finally started to leak out into the public domain. UKIP's sole MP, Douglas Carswell, has reportedly come under pressure from senior UKIP staffers to take the full £650,000 of public money that the party is entitled to hire 15 members of staff. The so-called "short money" is given to opposition parties to allow them to carry out their parliamentary duties. They are entitled to claim £16,689 for every seat that they win as well as £33.33 for every 200 votes gained. UKIP took one seat and 3,881,099 votes on May 7. Carswell has rejected the idea out of hand saying that "not even a US senator would have 15 staff" and asserting that he planned to take "less than half" of that figure. He told ITV News: "I politely and firmly said that's not going to happen. I politely and firmly explained I would be putting forward a sensible proposal that was respectful to the taxpayer and to public sector workers in my constituency who have not had a pay rise for five years. "I'm not going to allow anyone to create a UKIP trough in the House of Commons." That stance will put him on a collision course with those in the party's hierarchy who thought that they could capitalise on the huge swing towards them. However, it's not clear whether the party can afford a rift with their sole parliamentary representative. If he leaves them, then the money that UKIP would be entitled to goes with him. Join the conversation about this story » NOW WATCH: Georgian Parliament Breaks Out Into An All-Out Brawl The Day After Christmas  | ||
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London's property prices are still shooting through the roof | ||
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British Land, one of Europe's biggest listed property companies, reported full-year results today and the key takeaway is this: London property prices are still going crazy. The value of the property owned by British Land went up by 12.1% last year, while the value of its office and residential space jumped by 18.8%. British Land said this was due to "the strength of the London market and our actions." British Land's "Cheesegrater" building in the City — proper name the Leadenhall Building — smashed rental records in London last year, with space going for £90 ($142) per square foot. British Land said today the building is now 84% let. Home and flat prices are also going nuts, too. British Land made £259 million ($409 million) selling just 22 apartments at its new Clarges development in Mayfair, which works out at almost £12 million ($18.95 million) per flat. The Clarges development also broke Mayfair sales records, selling at an average of £4,750 ($7,500) per square foot. British Land put the crazy residential prices down to rich foreigners buying up luxury flats in London as an investment. The company said: "The UK remained the real estate investment market of choice for overseas capital in search of yield. London continued to be the principal beneficiary, with demand driving yields down in both the City and West End." British Land doesn't expect the capital's property boom to end any time soon either, with big developments planned in Shoreditch and Surrey Quays. Management said in today's results: "We continue to focus on our wider investment themes of London and the South East, targeting areas which will benefit from growth and regeneration and increasing our exposure to major transport interchanges." British Land's underlying pre-tax profit in 2014 rose 5.4% to £313 million ($494.2 million). Join the conversation about this story » NOW WATCH: Forget the Apple Watch — here's the new watch everyone on Wall Street wants  | ||
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London's property prices are still shooting through the roof | ||
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British Land, one of Europe's biggest listed property companies, reported full-year results today and the key takeaway is this: London property prices are still going crazy. The value of the property owned by British Land went up by 12.1% last year, while the value of its office and residential space jumped by 18.8%. British Land said this was due to "the strength of the London market and our actions." British Land's "Cheesegrater" building in the City — proper name the Leadenhall Building — smashed rental records in London last year, with space going for £85 per square foot. British Land said today the building is now 84% let. Home and flat prices are also going nuts, too. British Land made £259 million selling just 22 apartments at its new Clarges development in Mayfair. That also broke Mayfair sales records, selling at an average of £4,750 per square foot. British Land put the crazy residential prices down to rich foreigners buying up luxury flats in London as an investment. The company said: "The UK remained the real estate investment market of choice for overseas capital in search of yield. London continued to be the principal beneficiary, with demand driving yields down in both the City and West End." British Land doesn't expect the capital's property boom to end any time soon either, with big developments planned in Shoreditch and Surrey Quays. Management said in today's results: "We continue to focus on our wider investment themes of London and the South East, targeting areas which will benefit from growth and regeneration and increasing our exposure to major transport interchanges." British Land's underlying pre-tax profit in 2014 rose 5.4% to £313 million. Join the conversation about this story » NOW WATCH: Forget the Apple Watch — here's the new watch everyone on Wall Street wants  | ||
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Greece and Germany may have found a way out of the bailout crisis | ||
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Greece is hurtling toward a default if it can't get its hands on some bailout cash soon. The major sticking points that are preventing a deal are things like pensions and labour market reforms, where the Syriza-led government's priorities are most at odds with the rest of Europe. But if it could be conducted before the country runs out of money entirely, one answer to that might be a referendum on any bailout deal. There's a big contradiction in Greek public opinion that a referendum would address: The country is strongly anti-austerity and strongly pro-euro. Despite the incredible economic pain Greece has taken in recent years — on a scale similar to the Great Depression — support for leaving the euro is still low. Polling suggests something like two thirds of Greeks want to stay in the euro. But something like four fifths of Greeks also want to reject the Memorandum of Understanding (the austerity deal and structural reforms Greece agreed to access bailout funds). It's quite clear now that these two views are basically incompatible. Syriza was elected on a platform advertising the end of austerity while Greece remained in the euro, suggesting this would be possible to negotiate. In terms of its views on Greece's eye-watering debt burden, Syriza is correct. But four months after they were elected, it's clear that no other finance minister in Europe agrees with that (publicly, anyway). A referendum might be a good way to get Greece to weigh up those options, both of which are pretty horrible. Does the country want a bailout deal, and to remain in the euro even if that means further austerity? Or does it want to reject the deal, invite default and go its own way? Polling so far indicates that the majority of Greeks would take the latter option and accept another austerity package, rather than risk their euro membership. But the same poll suggests that Syriza voters would tip the other way, favouring Grexit if no better deal can be reached. Bloomberg reported on Wednesday that German finance minister Wolfgang Schaeuble now supports a referendum on Greece's bailout. There's a clear upside for the rest of the Eurogroup — whether Greece chooses the bailout or not, Schaeuble and others can wash their hands and say that they didn't force the country to do anything. Greek Prime Minister Alexis Tsipras has already promised to hold a vote if he can't negotiate a deal that's consistent with his election pledges. This is a strange way in which for once, Greece's frustrated European creditors and the government can both win, in a way. The creditors get some closure one way or another, and the Syriza government gets to pass the difficult decision on whether to accept another painful bailout deal to the Greek electorate. HSBC European economist Fabio Balboni says that it could be a "face-saving strategy to embark on the required U-turn from its pre-electoral pledges." The vote would take time to organise and could spark major outflows from Greek banks — it's not clear whether it could be done before Greece misses a debt repayment and goes into technical default. But it could give the Greek people a sense of ownership — however brutal — over the decision. Join the conversation about this story » NOW WATCH: Here's what 'Game of Thrones' stars look like in real life  | ||
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10 things in tech you need to know today (YHOO, GOOG, AAPL, HPQ, WMT, ORCL) | ||
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Good morning! Here's the tech news you need to know today. 1. Yahoo's head of sales has left the company. Kevin Gentzel only joined Yahoo seven months ago. 2. Google PR boss Rachel Whetstone is joining Uber. She will become Uber's SVP of communications and policy, replacing David Plouffe. 3. Apple is expanding its factory complex in Cork, Ireland. A job listing for its Ireland office suggests that the expansion could be linked to its electric car project. 4. Google has launched its first app for the Apple Watch. That's despite the fact that Google and Apple are competing on smartwatch operating systems. 5. The Radio Shack brand was sold for $26.2 million. It was purchased by hedge fund Standard General LP. 6. Nintendo is bring back its classic gaming tournament. The Nintendo World Championships will be held for the first time in 25 years at the E3 conference. 7. Top HP execs are looking to leave when the company splits in two. The split is expected to take place in November. 8. Wal-Mart is launching a subscription shopping service that will compete with Amazon Prime. It's going to cost $50 a year, half of the cost of Amazon Prime, but won't feature any online services like video streaming. 9. Ad tech company Rocket Fuel rejected a $350 million takeover offer from competitor Gravity4. Rocket Fuel's CEO said the offer was not "credible." 10. Oracle founder Larry Ellison is hosting a fundraising event for Republican presidential hopeful Marco Rubio. The event will cost $2,700 for each guest to attend. Join the conversation about this story » NOW WATCH: 5 clever iPhone tricks only power users know about  | ||
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This small lender's plan to destroy Britain's biggest banks is working | ||
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Aldermore has unveiled a 4% rise in total customer deposits to £4.7 billion ($7.4 billion) in the first quarter this year, compared to the whole of 2014. The upstart lender said in a trading update, which is its first since its IPO in March, that deposits from small to medium enterprises (SME) also rocketed by by 10% to £1.1 billion ($1.7 billion). "It has been an exciting and busy quarter for the Group and our achievements to date give us confidence as we look forward to the rest of this year and beyond," said Phillip Monks, CEO at Aldermore in a statement. "We remain on track to deliver our targeted £1.4 billion of growth in net lending for 2015 which equates to an expected full year growth rate of around 30%." "Double digit growth in SME deposits provides continued funding diversification as lending remains primarily funded by our dynamic online savings franchise." Other highlights include:
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Spanish court set to rule on league strike | ||
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Madrid (AFP) - A Spanish court is set to rule on Thursday if footballers can legally go ahead with a strike against a new TV rights law which threatens to shut down the country's top league at the weekend. The AFE players' union announced last week that footballers would go on strike indefinitely from Saturday and the league, which controls clubs in the top two divisions, filed a petition to have the action declared illegal. The RFEF federation, which controls top-league referees as well as lower-league clubs, had earlier decided to halt all competition from the same date. Backed by top players such as Iker Casillas of Real Madrid and Barcelona's Andres Iniesta, they are demanding that a bigger share of broadcast revenue be channelled to smaller clubs. After hearing arguments by lawyers for the AFE players' union and the league on Wednesday, the National Court said it would decide on Thursday whether to order the strike to be suspended while a solution is sought. If the stoppage goes ahead it will halt the clash between Atletico Madrid and Barcelona on Sunday which could seal the championship for Barca. It could also disrupt the last league matches on May 23 and the Spanish cup final on May 30 between Barcelona and Athletic Bilbao. The league says a stoppage could cost it 50 million euros ($56 million) per match day in lost revenues. In Wednesday's hearing, lawyers for the two sides argued over whether the players had the right to go on strike against a new law that redistributes broadcast revenues from the lucrative Liga. The league's lawyer Javier Suarez asked the court to forbid the strike because the economic damage "would be impossible to repair". He alleged "political" motives behind the strike. The union challenged that claim and said the potential losses were not grounds to suspend the strike as they were not "irreversible". Observers say the dispute is part of a long feud between league chairman Javier Tebas and the head of the federation Angel Maria Villar, a FIFA vice-president. The players' union and federation want the law on television rights to be amended. The government and the league have refused to do that but offered to negotiate separately on better conditions for players. Join the conversation about this story »  | ||
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The oil company that was accidentally bought by a B&B owner's son is holding emergency talks to get out of it | ||
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New World Oil and Gas, the Jersey based exploration and development company with projects in Belize and Denmark, just called an emergency meeting with its shareholders after the company's stock rocketed then plunged because a British B&B owner's son accidentally bought out half the group's shares. New World said in a regulatory statement: New World notes both the movement in the Company's share price and speculation about the Company as it appears on websites, but comments now that there are no further corporate developments which require an announcement. It added that it would like to hold an extraordinary general meeting (EGM) in order for shareholders to vote on the company launching an "open offer" (rights issue). A rights issue is when a company gives shareholders the opportunity to purchase stock at a lower price than that of the current market price. The rights issue would not only raise money for the group but it will also pare down the leading stakeholder, who is the owner of a small bed and breakfast establishment in the sleepy town of Malvern Hills, Worcestershire in England, which may be forced to buy out New World because her son "accidentally" purchased half of the company shares. Judith Williams, the owner of Wyche Keep Country House, is the subject of a Takeover Panel discussion because her son, Christopher, bought 342 million shares in the oil company, which explores and produces energy in Belize and western Denmark, believing that he was snapping up a 10% stake in the group for £1.5 million ($2.4 million). Unfortunately, his share purchase, on behalf of his mother through a broker, ended up being at 48.7%. Now, because she is a significant stakeholder, Britain's Takeover Panel said that she may have to make a mandatory bid for the rest of the company under current law. However, the final decision has not yet been made. New World's stock price is 59% lower than a year ago. However, the price has fluctuated from being nearly 300% up with the massive share stake buy by Williams. It then tumbled again.
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10 things you need to know in markets today | ||
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Good morning! Here are the major stories in markets today. Saudi Arabia says its efforts to hurt US shale producers are working. According to the Financial Times, a Saudi official told the newspaper that the overproduction and fall in prices "has deterred investors away from expensive oil including US shale, deep offshore and heavy oils." Even after a massive merger with BG, Shell says it could look at more small deals. Royal Dutch Shell Plc will consider small additions to its North America oil and gas business, despite ruling out large acquisitions after its deal to buy BG Group, Marvin Odum, director of Shell's Americas exploration and production business, said in an interview Wednesday. Former Australian Prime Minister Kevin Rudd says "two Asias" are emerging. In the next decade or so, China's economy is expected to surpass that of the US. (And, by some measures, it already has.) However, even though China's increased defence spending will continue to close the gap, Rudd notes US is expected remain the dominant regional and global military power. Brazil's lower legislative house approved further austerity measures. The lower chamber of Brazil's Congress passed a bill on Wednesday toughening access to social security pensions, the second measure approved in a week to cut benefits in a drive to reduce a growing fiscal deficit. Chinese markets are pretty flat, and the Nikkei is down. Hong Kong's Hang Seng is up 0.11%, while the Shanghai Composite Index is down 0.04%. Japan's Nikkei has fallen 1.04% from Wednesday's close. Honda is following Toyota by recalling millions of cars. Honda said on Thursday it would recall another 4.8 million cars globally to replace potentially fatal air bag inflators made by Japan's Takata, already at the centre of one of the biggest automotive recalls to date. The recall comes a day after Toyota Motor Corp and Nissan Motor Co said they were taking back some 6.5 million vehicles worldwide Read more: Accounting embarrassment fas forced Toshiba into major profit restatements. Japan's Toshiba Corp warned it was likely to mark down its reported operating profit for the three fiscal years through March 2014 by a total of at least 50 billion yen ($419.43 million, £266.34 million) after an investigation into accounting irregularities. Japan's Sharp is about to show massive losses and job cuts. Japanese electronics giant Sharp will announce later on Thursday a $1.68 billion (£1.07 billion) fiscal year loss and thousands of job cuts as it fights to stay afloat, reports from Japanese business daily Nikkei said. Islamic finance may get a role in China's Asian Infrastructure Investment Bank. The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told Reuters. Amazon has launched a new advertising platform for mobile app developers. Amazon.com Inc launched a new advertising platform for mobile app developers to promote their apps on Android devices, Bloomberg reported. Developers can advertise their apps on Android smartphones and tablets by paying Amazon each time a user clicks an ad displayed through the system, Bloomberg said. Join the conversation about this story »  | ||
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