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It used to be you could get a job as a high school drop out. Or you could hold a job while staying in school. And you could definitely find work over the summer. Not anymore. 34.6 percent of California teens who are looking for work can’t find it, according to the Employment Policy Institute. Teen unemployment is equally high in Georgia; followed by Nevada at 34.3 percent; Washington at 33.2 percent; North Carolina at 32.1 percent; Idaho at 31.8 …
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Today’s advice comes from IKEA CEO Mikael Ohlsson’s interview with The Wall Street Journal: “We are never satisfied. That is a large part of what makes IKEA successful. We are always critical. We ask: Why can’t we do this better? Why can’t it be cheaper? “We swing between frustration and inspiration and are never complacent. If someone says, ‘Well, this is pretty good,’ then he or she is in denial. Because it can always be better,” he says. Ohlsson, who …
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One of the most-respected and economically intelligent publications in the world, The Economist, has turned against the Republican party for its disgraceful behavior with respect to the US debt-ceiling negotiations. The Republicans, the Economist points out, would rather disrupt the US economy and put the country into default than compromise on a long-term deficit and debt reduction plan. This behavior is an abdication of the Republicans’ responsibilities as elected officials. It puts the Republicans’ self-interest ahead of the country’s. The …
To everyone who bought a house in Carson City, Nevada- congratulations, you picked a winner. Your housing market is expected to appreciate at a rate of 11.9% annually between 2011 and 2016. To everyone else, don’t hide your money under a mattress for the next five years. Here are 15 cities, identified by Fiserv Case Shiller Indexes, where the housing market is growing, and could provide you with some nice returns. Nationally, houses are appreciating on an average of 3.7%, …
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Bombshell news out of London, as the News Corp phone-hacking scandal continues to reverberate. A member of the British Parliament, Alan Johnson, has said that James Murdoch “could face prosecution” over his role in the phone-hacking, the Telegraph has reported. Johnson says that Murdoch could be exposed to charges under a law that covers the “criminal liability of directors,” in which senior execs can be prosecuted for not just criminal behavior but for not knowing something they should have known. …
The Employment Report in Brief The WSJ RTE post title says it pretty clearly: Economists React: Jobs Report an ‘Unmitigated Disaster’. My two observations are: Overall employment is being reduced by continuous reductions in government (primarily state and local) employment. Private sector employment growth was 57,000. Hours continue to rise faster than employment in the private sector. Figure 1: Month on month change in government employment, ex.-Census (blue) and total private industry (red), in thousands, seasonally adjusted. Source: BLS via …
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DEBT CEILING: Fitch just issued yet another warning about debt ceiling talks threatening the US AAA. Nobody seems to be particularly concerned. Please follow Clusterstock on Twitter and Facebook.Join the conversation about this story
Will Dominique Strauss-Kahn walk away from charges of rape on a procedural technicality? His lawyers hope so. MyFoxNY, citing a report in French newspaper Le Figaro, the lineup where DSK was picked out by the maid was tainted, as she had already been shown pictures of him prior to the event. Specifically, they claim that she saw DSK on TV and in a picture shown to her by the hotel manager, “prejudicing” the whole ID process. This sounds like pretty …
After days and days of intense newsflow and volatility, suddenly the air has been sucked out of everything just like that. Markets have corrected violently to being too quiet, all of the sudden. Equities are mostly higher, but not wildly. Greek short-term yields are a bit higher. Spanish short-term yields are a bit lower. Ireland is a bit narrower. SP 500 futures are up a little bit, but haven’t gone anywhere in hours. So for now, everyone’s just sitting here …
What’s the yearly, recurring revenue per user of iOS, Apple’s mobile platform? $150, estimates Asymco’s Horace Dediu, extrapolating from the number of devices in the market and a 3.5 average device lifespan. That’s a lot of money per user. And assuming users are loyal, that’s recurring revenue. “If we extrapolate growth of iOS to 500 million users then we can assume they will generate $74 billion/yr in recurring revenues,” Dediu adds. And yet Apple’s trailing at a P/E of 15. …
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Yesterday UK Foreign Secretary William Hague became the first Western leader to confirm nuclear tests in Iran. If that weren’t scary enough, Saudi officials make it clear that they would be forced to develop or buy their own weapon. Prince Turk al-Faisal told senior NATO officials that the existence of a Iranian nuke “would compel Saudi Arabia to pursue policies which could lead to untold and possibly dramatic consequences.” A senior Saudi official told the Guardian: “We cannot live in …
Forex Pros – pros ndash; European stock markets were higher on Thursday, as shares in the financial sector extended gains from the previous session as Greece prepared for a second vote on austerity measures designed to prevent a sovereign debt default.br /br /During European morning trade, the EURO STOXX 50 gained 0.45%, Francersquo;s CAC 40 edged 0.35% higher, while Germany’s DAX 30 advanced 0.2%.nbsp; br /br /Greek lawmakers were due to vote later in the day on the implementation of …
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The world’s biggest security concern… is you. Forbes quotes security expert Mark Rasch as saying “There’s no device known to mankind that will prevent people from being idiots.” Most successful hacking attacks are due to so-called social engineering, meaning exploiting human, not computer error. At the end of the day, many times, it’s our own stupidity or carelessness that leaves us vulnerable. Don’t Miss: You Will Never Click A Banner Ad Please follow SAI on Twitter and Facebook.Join the conversation …
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Germany just booked its 24th straight month of falling unemployment. Think about that: An aging Western nation, not thought of as being on the vanguard of high technology right now, without an abundance of natural resources, in the midst of an existential crisis all around it, just keeps cranking out the jobs. According to Bloomberg, the official unemployment rate fell to 7%, once again, hitting a new post-reunification record. A seasonally-adjusted drop of 8,000 jobs was better than the drop …
Vacation rental company HomeAway went public yesterday; despite being priced at the top of the range it still popped 50% and stayed basically there for the rest of the day. Some will say that it’s more sign of a bubble. Some will say that the IPO was underpriced. In any case, here’s what yesterday looked like, courtesy Yahoo Finance: Don’t Miss: The 15 Most Expensive iPad Apps Please follow SAI on Twitter and Facebook.Join the conversation about this story See …
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People have this misconception about rare earth metals that only China has them, and that its China’s lockdown on them that makes them such a good investment/bet going forward, especially since so many modern technologies rely on them. But part of that is wrong. Lots of places around the world have rare earth metals. It’s just that only China produces them, because it’s generally disregarded the safety/environmental aspects of them. The NYT reports that one of the biggest names in …
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Including food for infants and funding for the National Parks. Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Howard Dean: The Koch Brothers Are A Danger To AmericaRachel Maddow Plays Match The Grunt To The Tennis Player!Al Sharpton To Herman Cain: Jon Stewart Is A Comedian, Your Policies Is The Joke
Google+ just launched yesterday. Invite only for an exclusive hand picked group by Google. Today that changes. I have invites and would be happy to send you one. How to get a Google invite 1) Follow me @MattPRD2) Tweet at me with your email address and #googleplus3) I will send you a Google+ invite 
See you there! Update: I just chatted with Sergey Brin (Google founder) on Google+ using HangOuts! Please follow SAI on Twitter and Facebook.Join the conversation …
Steve Ballmer is literally shouting down the critics who think he should be leaving his post as CEO of Microsoft. Geekwire has a great audio clip of Ballmer speaking at the Seattle Rotary Club where someone asked him for his reaction to people that say it’s time for him to leave. He bellowed as only he can, “YOU TELL ME IF I LACK ENERGY OR CONVICTION, or we’re not driving all the change we need to drive.” (That was met …
The HP Touchpad is “no match” for the iPad, says gadget guru Walt Mossberg of All Things D. It doesn’t have enough apps to make it worth buying, and the hardware is pretty weak. The software has some nice touches but it’s still pretty buggy. Here are the key takeaways from Mossberg: “Ive been testing the TouchPad for about a week and, in my view, despite its attractive and different user interface, this first version is simply no match for …
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On news that the Fed is proposing swipe fees higher than those originally expected, at $0.21 per swipe, credit card company stock has spiked. The original cap was set at $0.12. Visa shares surged and MasterCard took a big jump too. In after hours trading, Visa is hovering above $87; Mastercard shares are lingering above $311. That’s going to make several hedge fund managers very happy — that is, if they more or less maintained the holdings in Mastercard and …
39% of Americans believe the US economy has now entered “permanent decline” according to a new poll from CBS and NYT. That particular stat was tweeted out by CBS’ Mark Knoller. Some other stats, via NYT: Obama’s approval is down to 47%. Disapproval is at 44%. 63% of the country believe it is headed in the wrong direction. Just 28% believe it is headed din the right direction. 2/3 of GOP voters are not enthusiastic about any candidate. You can …
SUBSCRIBE TO THIS PODCAST ON ITUNES HERE Texting services Google Disco and GroupMe are being sued for spamming people’s phones. Alyson Shontell, Jay Yarow and Steve Kovach discuss if the plaintiffs have a valid argument against these platforms. (Not surprising, the law firm representing the plaintiffs is no other than Edelson McGuire, which targets startups with petty lawsuits for settlements.) After testing Google Plus for a few hours, the verdict is in — it is a good Facebook-like platform that …
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The Israel-Palestinian conflict has been largely out of the news in the six weeks since President Barack Obama called for reinstating the 1967 bordersan idea Israeli Prime Minister Benjamin Netanyahu dismissed as “pointless.” But with another flotilla sailing for Gaza this week, Palestinians pushing for statehood in September, and continued uprisings across the Arab world, this could be a pivotal summer in this conflict. As an adviser on the Israel-Palestinian conflict for six secretaries of state, Aaron David Miller played …
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This latest Greek vote/bailout has been particularly hard to come by, in part because everyone is getting clued into the fact that austerity doesn’t actually work. Greece (it seems) is basically insolvent, and cutting spending and raising taxes has only made the economy worse, thus counteracting debt payback. It’s conceivable, though, that there could be a debt restructuring that actually loosened the noose around Athens, giving the economy a chance to survive. Hopes are now pinned to a debt rollover …
Wharton Business School’s West Coast campus is moving to a beautiful new site, to the historic Hills Plaza building on the San Francisco waterfront. MBA students will be attending the new campus by early 2012. The school needed more space for its San Francisco MBA students, since there has been such a surge in demand from Silicon Valley and West coast executives. The new site has sweeping views of the San Francisco Bay and the Golden Gate Bridge. Amazing. See …
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I use my Apple netbook almost every day. You heard me right. Netbook. Not MacBook Air or MacBook Pro, but a 9-inch Dell that’s tricked out to run OSX gracefully and without issue. People have been doing this for years. There are numerous walkthroughs online to tell you how to do this for yourself. For a small initial investment and a little bit of work, you can build a brand new Apple computer. What are you waiting for? One of …
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When OPEC members met in Vienna recently, the Saudis failed to control the meeting, OPECs production ceiling remained unchanged, and member countries are setting their own output levels. But talk of an OPEC breakup is premature. After all, it has survived major wars, numerous diplomatic disputes, and two major market collapses. In fact, the secret to OPECs survival is its weakness, not its strength. Click here to read more at Project Syndicate Please follow Politics on Twitter and Facebook.Join the …
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A lot of new apps have come out since we named the most expensive iPad apps last June. We worked with Mobclix, a mobile ad exchange network, to update the list. One of the apps is just 5 days old. The three most expensive apps retail for a whopping $999.99 each. If you bought all of 15, you’d spend almost $8,000.Florida Bar Exam Course – $399.99 Description: An app that helps law students study for the Florida bar exam. Release …
Speaker of the House John Boehner fired back at the White House this afternoon, after President Barack Obama criticized Congress in a press conference for stalling a deal to raise the debt ceiling. “His administration has been burying our kids and grandkids in new debt and offered no plan to rein in spending,” Boehner said in a statement.”The President has been AWOL from that debate.” Boehner also reiterated that Congressional Republicans would not vote for any deal to increase the …
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There’s no getting around it. Greece is Screwed. So is the World. Bloomberg reports today that the Euro Gains on Greece Plan Optimism; Dollar Rises Versus Yen on U.S. Yields. In other words, Bloomberg (and the general financial press) is reporting that the financial world is completely wrong, has gone insane, and is otherwise delusional when it comes to the Greek conundrum. Whether its policy ignorance, political indifference, or willful absence of sound decision making, the business press and world …
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One reason the online brand advertising industry hasn’t been able to catch up offline brand advertising despite how much time consumers spend on line these days is that many ad-buyers are trained to believe that if Web users aren’t clicking on their banner ads, then their banner ads are being ignored. This is stupid because people are very unlikely to click on banner ads. The people who do tend to be poorer and less educated. A company called Solve Media …
When Americans think about human trafficking, they tend to think about sexual slavery. The very real stories of girls sold to brothels or tricked into prostitution by gangsters are great fodder for journalists. They attract the kind of celebrity commitment that puts causes on the mapsee, for example, last weeks Demi Moore-hosted CNN special about sex slaves in Nepal. The issue certainly deserves our attentionindeed, its horrors can scarcely be overstated. But as the State Departments 2011 “Trafficking in Persons” …
I was watching the History Channel recently, and happened to catch 101 Gadgets That Changed The World. Its an ambitious ranking, counting down the inventions that have altered the face of mankind. The device that tops the list? The smartphone. These days, the thought of leaving home without a mini computer in your pocket or purse is unthinkable for a growing number of people. Android alone has experienced a surge of activations, up to 500,000 per day. This growth is …
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The names of big credit card firms have spiked on the news that the Fed is proposing swipe fees higher than those originally expected, at $0.21 per swipe, according to Bloomberg. This is a huge win for the credit card companies. The original cap was set at $0.12. As a result, Visa shares have spiked, and are now up nearly over 10%. MasterCard too has taken a big jump, up 9.23%. Shares were temporary halted, but it appears they have …
Whoo boy! Did I ever get railed in the comments for comparing Google+ to Facebook in my tour of the new service. But if you don’t have an invite yet, take a look at these screenshots, and you’ll see it’s hard not to make the comparison. I decided to take a moment and delve a little deeper into why I think Google+ won’t work in the long run: Recycled Features Save for some minor improvements, Google+ offers nothing groundbreaking enough …
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As she reports from Athens from a balcony, the teargas is wafting up towards CNBC’s Michelle Caruso Cabrera. Please follow Clusterstock on Twitter and Facebook.Join the conversation about this story
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Apple will not be releasing a cheaper iPhone 4S this year in conjunction with the iPhone 5, says Mike Abramsky at RBC in a note this morning. Abramsky thinks the “baby” iPhone is coming in 2012, contradicting a report from Deutsche Bank’s Chris Whitmore who said it was coming this year. Instead, Apple will knock the price of the iPhone 3GS to $0, make the iPhone 4 $99, and keep the iPhone 5 at $199/$299, says Abramsky. The iPhone 3GS …
Greek PM George Papandreou is speaking to the Greek Parliament. After a debate, the Greek voting on its huge austerity package has begun. The best place to get real-time results its The Press Project. We’ll be updating live here. It is expected to pass, but until it does, pay attention. Keep refreshing for the latest. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Wolfgang Münchau: Why Greek MP’s Should Vote Against The Austerity BillFor …
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Well, you have been reading about it almost everywhere: while you were tweeting, while using your email marketing software, or while reading your trade journals. The latest online marketing strategy with the extensive reach of over a hundred million captive prospects is Social Media Marketing. The results of leading research organizations like Pitney Bowes show (in their recent May 2011 survey) that nearly 20% of small to medium businesses prefer the stupendous reach of social media. The power of this …
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At Facebook’s latest $70 billion valuation, Mark Zuckerberg’s net worth is over $18 billion, Forbes reports. That makes him richer than Larry Page and Sergey Brin, whose Google holdings are worth about $17 billion each, since Google’s stock has sagged a bit. Take that, Larry and Sergey! One more reason for Google to want to kill Facebook with its new product Google+. Don’t Miss Our Tour Of Google+ Please follow SAI on Twitter and Facebook.Join the conversation about this story …
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As was originally reported last night, Bank of America is announcing a big settlement over bad mortgages, and that will lead to a big loss this quarter. Here’s the key part from the announcement: The agreement includes a cash payment of $8.5 billion to the covered trusts to be made after final court approval of the settlement. Bank of America also intends to record an additional $5.5 billion provision to its representations and warranties liability for both Government-Sponsored Enterprises (GSE) …
Good morning. Here’s what you need to know. Asian indices were mixed in overnight trading with the Shanghai Composite down 1.11%. Major European indices are up and U.S. futures indicate a positive open. The Greek parliament will vote on a its austerity package today. The Athens market is up over 2% on expectations that the austerity bill will pass after Prime Minister George Papandreou survived the confidence vote last week. Now here are the 20 institutions most exposed to a …
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Good morning! Here’s what you need to know: Google+! Google’s Facebook-killer is kinda-sorta live. Here’s what you need to know Zynga is reportedly expected to file for an IPO today. Jack Dorsey’s Square raises $100 million at a $1 billion valuation. The round is led by Kleiner Perkins, with Mary Meeker joining the company’s board. Speaking of Jack Dorsey, now that he’s back at the helm at Twitter, co-founders Ev Williams and Biz Stone, and former product head Jason Goldman, …
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Real quick update on Greece voting: It’s almost certainly going to pass. First of all, one “rebel” MP, Thomas Robopoulos has said he will vote FOR the measure, after hinting last Friday that he would vote against it. And now, an opposition MP — Elsa Papadimitriou — just announced that she will vote for the plan, (via Bloomberg). The protests outside are getting wild, but markets are surging. RISK ON! Please follow Money Game on Twitter and Facebook.Join the conversation …
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The global luxury market is in the midst of a massive bounce back, according to data from Colliers International. The international commercial brokerage reported in Spring 2011 that after two years of lackluster growth, the world’s top retail streets are growing again. Here are the most expensive retail streets in Europe by how much it costs to rent space per square foot. We’ve ranked them and included New York’s Fifth Avenue for a comparison.#10 Kaufingerstrasse, Munich Average rent: $518.86 per …
Skimming employment and job seeking articles on the web, I came across the quintessential, “It’s About Who You Know,” article. This thought process is a give up, stop working and accept your status methodology. Moreover, this type of thinking is not only unhealthy, it breeds jealously towards those who are successful in their career. In business unless you can make somebody money, they don’t care if you’re the son or daughter of royalty. Do you ever hear of the Google …
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The threat of a Greek default has become so real that French banks, which constitute some of the top Greek debt holders, have intensified their efforts to ease the country’s floundering finances. French lenders, along with their government, have suggested a debt rollover program, the first private-sector proposal to help save Greece. The proposal suggests reinvesting 50% of maturing Greek debt into 30-year Greek government bonds between now and 2014. The new securities would pay a coupon close to current …
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Google was kind enough to send SAI some invitations for its new social networking service Google+, and after a few hiccups we’ve been able to get on the service. First impression: it’s Facebook. With video chat. Only it doesn’t have any people on it yet, so it’s not as useful. There are some subtle differences in how you invite friends and so on, but the MAIN page — the page that shows up when you click your +name (I’m “+Matt”) …
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NEW YORK (AP) Mark Teixeira homered and had four RBIs, Nick Swisher hit a three-run homer to cap a five-run second inning and the New York Yankees gave the sloppy Milwaukee Brewers a rude welcome back to the Bronx on Tuesday night, a 12-2 drubbing in an interleague matchup between first-place teams. From New York’s first batted ball, when Nyjer Morgan got twisted up in center field and fell trying to catch Curtis Granderson’s fly, the Brewers never appeared to …
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BALTIMORE (AP) Kyle Lohse pitched five shutout innings in a performance shortened by rain, and the St. Louis Cardinals got solo home runs from Colby Rasmus and Matt Holliday in a 6-2 victory over the Baltimore Orioles on Tuesday night. It was only the second win in seven games for St. Louis since three-time NL MVP Albert Pujols was placed on the disabled list with a broken left wrist. The Cardinals were off Monday after being swept at home in …
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Europe continues to be engulfed by economic crisis. The global focus returns to Athens on June 28 as Greek parliamentarians debate austerity measures imposed on them by eurozone partners. If the Greeks vote down these measures, Athens will not receive its second bailout, which could create an even worse crisis in Europe and the world. It is important to understand that the crisis is not fundamentally about Greece or even about the indebtedness of the entire currency bloc. After all, …
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With the Greek austerity vote due to be held in a matter of hours (7:00 AM ET Wednesday), here are two quick and worthwhile reads. First, Kathimerini has a look at where the voting stands now. Of the four PASOK (ruling party) MPs who have indicated a hesitance towards voting for the measure, three seem to be softening their stance. Only one is firmly opposed, and it turns out he lives in a district that would get really hit hard …
A few weeks ago, when we read Facebook’s response to the lawsuit in which upstate New York man Paul Ceglia claimed to own half the company, we decided that the lawsuit was bogus and Paul Ceglia was, once again, a fraud. (Originally, we had been open-minded–because Facebook founder Mark Zuckerberg had certainly done some dumb things back in his dorm room and because Ceglia’s story seemed so preposterous that it was hard to believe that it had been made up–because …
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In 2005, Rachelle Hruska moved to New York for six months. Six years later, she’s still here, heading up Guest of a Guest, the site she founded along with Cameron Winklevoss. The venture, which has expanded to Los Angeles and Hamptons, chronicles the young, rich, and beautiful in Gotham and beyond. It has become a must-read publication in almost no time, the new Page Six. Hruska leads a glamorous life – she recently married hotelier Sean MacPherson – but it’s …
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Lady Gaga joined Tumblr Monday night (without telling anyone) and she already has a huge number of notes on her seven posts. So far, the service – which reached 400M pageviews per day (that’s almost 5,000 per second) – is holding up fine… although loading her page takes times. (Patience, monsters!) And no, we don’t expect the star’s Amen Fashion to stress the servers. (New controversy: Did Gag’s steal the name from someone?) But this is another step in the …
How does America, looking up from the bottom of a $14.3 trillion sinkhole, claw its way out of debt? For starters, says perennial Wall Street bear James Grant, go back to the gold standard. In an interview with The Fiscal Times, the editor of investment newsletter Grants Interest Rate Observer, says: No other reform would accomplish so much to hasten the return both of growth and fiscal balance. The reserve currency franchise, which America uniquely possesses, is a kind of …
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Meet Guo Meimei, the 20-year-old Chinese blogger who caused a major publicity crisis for China’s Red Cross after claiming to have a link to the organization and posting about her uber-luxurious lifestyle on Weibo, a popular Chinese blogging site. (via China Hush). Guo, whose blog profile said she was “General Manager of RCSC Commercial Club” [RCSC stands for Red Cross Society of China], posted photos of what she claimed were her fancy cars, expensive handbags, and even a luxury villa …
Google has been working on the Google+ social product for a couple years now, as reported by Steven Levy and many others. So it was only inevitable that word would leak to competitors, including Facebook. That’s exactly what happened, according to an engineer and business leader with close friends at both companies. Apparently Facebook got wind of the Google+ feature, now called Circles, that allows users to share information with only select groups of friends, rather than their entire Facebook …
Matthew McVickar lives and works in Hawaii, and in his spare time, he likes to conduct experiments with mail. For example, he built an awesome piece of “cameramail” that prompts postal workers to take a picture with it before it goes to its next destination. McVickar put the photos on his Flickr account so everyone could see what package goes through when it’s mailed.Building the package. McVickar writes instructions for the people to encourage them to use the camera. The …
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After a respectable (but overmatched) defeat to the dastardly Americans, North Korea’s women’s soccer coach offered a perfectly valid excuse of this team’s lackluster performance half his team had been struck by lighting. Not during today’s game, of course. But at the team’s post-game press conference, coach Kim Kwang Min said that four players and a goalkeeper were hit by lightning on June 8th. As a result, those players weren’t at full strength today and the team’s strategy had to …
TSA officials at a Florida airport on Sunday forced a 95-year-old womansuffering from leukemia and on her way to visit relatives with her daughter in Michiganto take off her adult diaper and go through a security search for 45 minutes after they discovered something “suspicious” on her leg. This is only the most recent episode of shocking security stops in airports. Since bringing in full-body scanning machines, airline passengers must decide whether they would rather pass through radiation or get …
Two big wins in a row! But first, the scoreboard: Dow: +144.29NASDAQ: +40.30SP 500: +16.56 And now, the top stories: Obviously it’s still all Greece, Greece, Greece in the news, though there weren’t too many developments. Actually, that’s probably a good thing. There were no new PASOK MPs saying they would vote against austerity. Everyone thinks right now that the big vote will pass. That provided a huge lift to all risk assets. Athens stock surged. Going backwards for a …
Before Twitter was an independent company it was a side-project at a startup called Odeo. Then Odeo cratered, and Odeo CEO Ev Williams created a new company, an incubator Obvious. Twitter was the first project at Obvious. Eventually, Twitter outgrew Obvious and became its own company. For awhile, Ev Williams was its chairman and then its CEO. Ev stepped down from that job last fall. Now, Ev has re-started Obvious. Joining him are Twitter’s former product boss guy, Jason Goldman, …
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Today’s advice comes from Exelon CEO John Rowe’s interview with The New York Times: “Always be looking for something to do that moves the ball. Dont sit still. My aphorism for it is, better a moving turkey than a sitting duck. If youre just standing still, whatever youre doing is going to get shot apart. “I also learned that you have to act on the best information you have, and to not wait for the nonexistent perfect level of information.” …
While China’s recent audit of its local debt situation has revealed that in terms of size, it doesn’t seem to be much of an issue, the pace at which these governments are accumulating debt is “terrifying,” according to Societe Generale’s Wei Yao. Yao points out that, while China’s total debt to GDP level is less than the U.S. or Europe, with a greater growth rate to boot, its pace of debt accumulating far surpasses its two rivals. From Wei Yao: …
Good morning. Here’s what you need to know. Asian indices were up in overnight trading with the Nikkei up 0.74%. Major European indices are mixed and U.S. futures indicate a negative open. Though EU economic and monetary Commissioner Olli Rehn has denied a Plan B for Greece, it is being reported that European officials are working on an alternative if Greece were to reject the austerity bill after a parliamentary vote tomorrow. The plan aims to prevent default and to …
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Good morning! Here’s what you need to know: Facebook, not Twitter, was supposed to be integrated into your iPhone. Yahoo is spinning off its Hadoop cloud computing unit into a separate company. This is bad news for competing startups like Cloudera. News Corp says Apple and Google are destroying it. People are buying tons of e-readers. Tablets seem to be boosting the category, not crushing it as was initially thought. Inside Jeff Bezos’ 10,000 year clock. Facebook’s IPO will be …
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Matthew Hulsizer, the Chicago hedge fund manager who had offered to buy the Phoenix Coyotes, has walked away from the deal, ESPN reports. He was considered the best hope to keep the struggling franchise in Arizona, but as the process dragged on Hulsizer lost interest and withdrew his bid. The biggest obstacle to a deal was the arena lease agreement between the City of Glendale and the team Some city officials were so eager to keep the team, they were …
Here we go again. The teargas just came out in Syntagma square in athens. Here’s a picture via a livestream at LISwires. Greece is in the early hours of what should be a chaotic 48-hour general strike coinciding with the last two days of the austerity debate. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:The Market Just Spiked On A Totally Meaningless Greece HeadlineOne Week After The Greek Vote, There’s A Huge Event …
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There are so many devices these days that recharge via USB and yet require an adapter to plug into a regular electric socket, that this makes a lot of sense. It’s from ThinkGeek: (Via Electronista) Don’t Miss: 10 Cool Gadgets To Take On Your Next Business Trip Please follow SAI: Tools on Twitter and Facebook.Join the conversation about this story See Also:The LG Thrill Will Be Preloaded With 3D ContentHow The New, Ground-Breaking Lytro Camera WorksGADGET PR0NZS: Inside The Biggest …
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Twitter is abuzz this morning about WDYL, a fun Google project. The site asks you “What do you love?” and then shows you results for your query under practically every Google service. It’s a nice way to remind people just how many things Google does and how many cool services it has. It can’t show off too many search options on its main page, as that confuses users. But Google really does have tons of products.Did you know Google has …
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A lot of people had additional questions about my article: How to Deal with Crappy People. Here are my responses. (when you get in the mud with a pig, the pig gets happy and you get dirty) Q: Seriously? You walk around thinking stuff like that about total strangers, who have never so much as looked at you, let alone harmed you? A: Yes. Seriously. Maybe you are judging me? My challenge is to either own that dialogue or I …
Continue reading about JAMES ALTUCHER Answers Your Questions About Dealing With Crappy People
EU Commissioner Olli Rehn has put out a statement imploring the Greek parliament to pass the austerity bill. It almost reads like Tim Geithner imploring the GOP to hike the debt ceiling. (via @lorcanrk) ————- This week Greece faces a critical juncture. Both the future of the country and financial stability in Europe are at stake. I fully respect the prerogatives and the sovereignty of the Greek Parliament in the ongoing debate. And I trust that the Greek political leaders …
Just imagine how much he’d be pilloried if Bernanke did this. It turns out that last week, the Norwegian central bank put out a spreadsheet indicating a 60-70% change of rate hikes in either August or September. Turns out that was a sloppy mistake. According to this translated article from e24.no, the mistake was identified, and the number was changed to 100%, without a big press release or any other notification that such an error had been made. So not …
“If they believe what they say about policy, if they’re not just playing it up fresh every day, then they know that what they are doing will guarantee bad economic outcomes.” Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Watch: New York State Passes Gay Marriage Bill 33-29Chris Matthews Defends Chris Wallace: I Know How You Get Into These SituationsBill Maher Blasts Obama: Sucking Up To The People He Should Be Fighting
New Jersey officials are considering taking a $2.25 billion “bridge loan” from JP Morgan to close the state’s cash shortfall, the Wall Street Journal reports. The unconventional move would make New Jersey the first state to tap a major commercial bank loan to cover its bills for the first few weeks of the new fiscal year (which begins July 1st). Typically, states start a new year with enough cash on hand to tide them over until they can arrange a …
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There were no major developments from the first day of the Greek austerity debate. The debate will go through Wednesday, at which point there will be two votes. Starting Tuesday, the pressure from the public will reach something of a boil, as a massive 48-hour strike is due to engulf basically the entire country. According to Kathimerini, only the Athens metro will be running. All other forms of transportation (buses, trolley, trams, etc.) will be shutdown. Sanitation, courts, and even …
Continue reading about For The Next 48 Hours, Greek Life Will To Be Thrown Into "Disarray"
But she could suffer the same fate if the media continues to attack her. Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Karl Rove: Here Is Why Obama Will Be A One Term PresidentHMM: Bill O’Reilly Tries To Take Credit For The Capture Of Whitey Bulger?Chris Matthews Defends Chris Wallace: I Know How You Get Into These Situations
The latest tweet from Linday Lohan is this one: Now you’ll notice it’s a sponsored tweet, so we don’t really know what Linsday Lohan thinks about the Fed and quantitative easing. She’s just using her Twitter feed to spread the message. The mesage, meanwhile, is paid for by the National Inflation Association, which is a group devoted to warning that an imminent Weimar/Zimbabwe-like scenario will happen in the US without gigantic spending cuts. Their mission is literally to help in …
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Every once in a while the value of social media is driven home to me in a spectacular way. I’m always asked by my old offline friends whether my online friends are really my friends, or how I can share so much of my life with complete strangers. That always makes me wonder who they think my online friends are: a random gaggle of strangers? Or a carefully selected group of people from all over the world that I have …
Continue reading about Social Media Delivers ROI, or How I Crowdsourced My Haircut
“I think Chris Wallace, in his favor, was trying to use the language other people were using. It wasn’t his thought but it came across as his thought.” Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:FOX News’ Chris Wallace Asks Michele Bachmann: ARE YOU A FLAKE?Watch: New York State Passes Gay Marriage Bill 33-29LETTERMAN: Top 10 Ways To Know That Your Summer Is Already Off To A Bad Start
According to a Capital One survey conducted in the first week of June, more Americans will use rewards accumulated on their credit cards to defray the cost of their summer vacations 40% of rewards card holders, as opposed to 33% last year. The Capital One Rewards Barometer, a quarterly survey of adults who currently have a credit card with a rewards program, included over 1,000 participants. While more people are planning to travel, as opposed to having a staycation, nearly …
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Note: This is part I of a five part series. Access the second installment HERE, part III HERE, part IV HERE and part V HERE. I recently answered the question “What are good ways to raise your children to be entrepreneurs?” on Quora. My response was brief and straightforward, which is common of popular Quora answers (as discussed in How To Write An Effective Quora Answer). Although my answer was off-the-cuff, the question caused me to consider the issue of …
Whenever a company designs and releases a new video game system, beating the competition is a high priority. On the positive side, consumers benefit from innovative features that enhance the overall gaming experience. Unfortunately, some of these ideas don’t pan out the way creators intended, largely because technology hasn’t had a chance to catch up. This was evident during the 80s and 90s, where publishers like Sega and Nintendo attempted to out duel each other by dreaming up the latest …
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Despite a 20% decline during the financial crisis, world trade is expected to increase from 61% of global GDP in 2010, to 86% in 2050, according to a new report by Citigroup. Trade is defined as the combined value of both imports and exports in a country, including both goods and services. More significantly, trade is set to transform with most growth coming from emerging markets. China will be the world’s biggest economy by trade as early as 2015, and …
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Fring, one of the best video chat apps for iPhoneand Android, just added full support for group video chatting on iPad 2. Unlike FaceTime, you can video chat over your carrier’s 3G network (meaning you don’t need Wi-Fi), and you can chat with up to three friends on their iPad 2′s, iPhones, or Android devices. Along with video chat, Fring also lets you call landlines and chat with friends. Click here to download Fring for free. Don’t Miss: These Apps …
Few countries are more important to the global economy than China. But its reputation as an unstoppable giant — as a country with an unending supply of cheap labor and limitless capacity for growth — masks some serious and worsening economic problems. Chinas labor force is aging. Its consumers save too much and spend too little. Its political and economic policy tools remain crude. Its state bureaucracy seems likely to curb spending just as exports weaken, and thus risks deflation. …
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TMZ gets a little time in the sun in a New York Times piece penned by David Carr. The story highlights the efforts of Harvey Levin and his staff, perhaps not in the most shining light, but certainly impressed by the success of the television show and the site that boasts 20 million uniques. (Sample Carr observation: “The newsroom is alive and buzzing about — well, lets face it, nothing very important.”) Notably absent, however: Any mention of AOL, which …
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Apparently, Frank McCourt did not appreciate our advice. If the owner of the Dodgers is going down, he’s going down swinging. The team filed for bankruptcy today, while simultaneously blaming it all on Bud Selig. From the Dodgers’ press release: I simply cannot allow the Commissioner to knowingly and intentionally be in a position to expose the Dodgers to financial risk any longer. It is my hope that the Chapter 11 process will create a fair and constructive environment to …
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TV comedy genius Larry David says he’s gone through the five stages of grieving when it comes to golf: Anger, Denial, Bargaining, Depression and finally, Acceptance. But has he really? His New Yorker story begins On the par-3, 175-yard fourteenth hole at Riviera, I hit my tee shot a mere ninety yards and a physics-defying thirty degrees to the rightalmost sideways. Its a miracle I got my right leg out of the way, or I could have shattered it with …
On the heels of last month’s Supreme Court ruling on California’s prison overcrowding, Ohio state lawmakers have approved a bill that would let prison inmates out early and send low-level offenders to non-prison facilities. The legislation is expected to save the state more than $46 million over the next four years, while reducing prison overcrowding. Ohio’s inmate population is currently 50,561, significantly above the 38,389 capacity. Here are some highlights of the bill, courtesy of the Cleveland Plain Dealer: Judges …
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It’s 2011 and it’s time to turn your car into a mobile hotspot. It’s a sensible move, too — you can keep up with email and placate your Facebook-addicted kids for long road trips or just for the daily commute. In a world where nearly everyone has a smartphone in his pocket, the technology’s never been as practical or affordable as it is now. We took a look at several car internet systems to see how they work and which …
The Telegraph reports that Christies is hoping to sell Margaret Thatcher’s 80′s-era handbag for 100,000 ($160,000). The black Asprey bag was carried by Thatcher in her 1980s time in office, during meetings with Ronald Reagan. Thatcher’s love of handbags is reported to have created the term “handbagging”, a term that describes the tough way Thatcher dealt with adversaries. Watch the video below: Please follow Europe on Twitter and Facebook.Join the conversation about this story See Also:UK Plans 2015 Afghanistan Withdrawal, …
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The era in which countries could have strong growth and modest inflation is over, according to PIMCO portfolio manager Mihir Worah. Worah, in the firm’s latest secular outlook series, says that what we referred to as the “Goldilocks” economy in the 90′s is at an end. That’s because underlying inflation is rising due to commodity demand from emerging markets, the easy money policies of developed world central banks meant to inflate asset prices, and currency competition. From Mihir Worah: Finally, …
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In a recent strategy note Goldman Sachs analysts discussed the most attractive stocks at this juncture in the economic cycle. They maintain the stocks with strong revenue growth and high ROE are likely to outperform. Within these strategy baskets they believe one stock in particular fits the mold. An old Warren Buffett favorite, Coca-Cola is the stock that Goldman believes best meets this criteria: Coca-Cola (KO) fits many of the strategy criteria we seek in aninvestment at this point in …
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This is a cymbal being hit in very slow motion — 1000 frames per second. Impressive: (Via Bits and Pieces) Don’t Miss: Photos Of 25 Ferrari Crashes Please follow SAI on Twitter and Facebook.Join the conversation about this story See Also:Use Your Keyboard To Create Music That Doesn’t Suck Using Startup BreakoutBandARTSPACE: Here’s How The New Generation Of Art Collectors Will ShopGilt Chairman: Online Shops Of The Future Will Be Like Games
It’s almost too quiet this morning. With debate on austerity set to begin in Greece at 6 PM Athens time (11:00 AM ET), nothign too radical is happening, though markets clearly have a negative tilt. The DAX is off 0.5%.. France is off a bit less. US futures are basically flat. Oil is down to 90.30. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Surprise! Everything’s Slipping After The Big Greek Confidence VoteHmm… Japan …
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Google is killing two of its most ambitious projects, Google Health and Google PowerMeter, because they didn’t get enough traction. These were very ambitious projects: the goal was to remake healthcare delivery, and energy distribution respectively, for the internet age. There’s certainly a lot of potential for the internet to improve things when it comes to healthcare and energy, but it seems Google was beset here with a lack of focus and partnerships. Plenty of startups are doing well in …
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I’ve always pledged to be brutally honest with you about the best and worst companies out there. Very few people in the personal finance space will name specific names about companies. Some of them are worried about closing the door on a sponsorship deal. Some simply don’t want to be mean. I’ve always found that being ULTRA-SPECIFIC more than anyone else shows people you really know what you’re talking about. So after news came out about Capital One acquiring ING …
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SAN FRANCISCO (AP) Madison Bumgarner bounced back from a one-out, eight-run performance with one of his best starts, striking out a career-high 11 batters in seven innings to help the San Francisco Giants beat the Cleveland Indians 3-1 on Sunday night to complete a three-game sweep. Chris Stewart hit a two-run double for his first RBIs in more than four years and Aubrey Huff added an run-scoring single for the Giants, who have won five straight following a season-worst five-game …
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Check out some of the latest MakeUseOf discoveries. Most of the listed websites are FREE or come with a decent free account option. If you want to have similar cool website round-ups delivered to your daily email, subscribe here.Add Your Website Here!CraftRoulette If you are enthusiastic about creating nifty things with your hands, then the Internet has countless how-to guides available for creating a variety of things. But instead of finding these guides on Google, a better choice would be …
MILWAUKEE (AP) Ryan Braun and the Milwaukee Brewers insist it’s way too early to start watching the scoreboard. That said, they’re enjoying their three-game lead in the NL Central. Braun extended his hitting streak to 17 games with a tiebreaking home run and the Brewers beat the Minnesota Twins 6-2 Sunday. “It means we’re in a position we wanted to be in,” Braun said of the lead over the St. Louis Cardinals. “But ultimately it matters where we’re at on …
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HOUSTON (AP) Evan Longoria homered twice and drove in five runs and pinch-hitter Matt Joyce delivered a go-ahead double in the eighth inning Sunday that sent the Tampa Bay Rays over the Houston Astros 14-10 for a three-game sweep. B.J. Upton homered for the third straight day and drove in four runs for the Rays, who have won four in a row. Longoria came within a triple of the cycle and had his first multihomer game since 2009 one of …
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DETROIT (AP) Don Kelly entered the game as a pinch-hitter and batted twice before the inning was over. It was an unusual experience for the Detroit utilityman and a sign that the Tigers’ offense is beginning to live up to its potential. Miguel Cabrera hit a go-ahead single and the Tigers scored seven runs with two outs in the eighth to beat the Arizona Diamondbacks 8-3 on Sunday. Kelly started the rally with a one-out single with the Tigers down …
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Folks, there is a real chance that Greece will not be able to pass a new austerity bill this week, which would mean (in theory) that it won’t get more bailout money, which would mean an imminent default. According to Kathimerini, there are now 4 PASOK (Papandreou’s ruling party) MPs who have signalled their opposition to the measure, at least on some level. Some are apparently concerned about details, and haven’t come out firmly against the plan. It’s possible some …
Three stories will likely dominate the business/economic/financial world in the week ahead. Greece. Obvious, yes. The big austerity vote is scheduled for the 29th, Wednesday. Greece needs to pass this in order to receive anymore money from its European peers, and avoid imminent default. The latest tally suggests that PM George Papandreou has a 3-vote margin of victory on this, with two of his fellow PASOK members have voiced their opposition. A question that’s worth asking: If Greece doesn’t pass …
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Is Hugo Chavez dead? Probably not. Twitter is buzzing on the matter, but it’s all apparently due to a Twitter account called Wikileaks Argentina, which has nothing to do with the actual Wikileaks, but has been tweeting the same Chavez death rumor since yesterday morning. And since it has Wikileaks in its handle, and since it uses the same icon as the actual Wikileaks account, it’s suckering in a few people. All that being said, by multiple accounts Hugo Chavez …
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The weekend is officially over, and once again, the market’s bias is to the downside. Even news about China offering to bail out Europe (again) can’t give this market even a momentary jolt. Obviously the whole week will be dominated by the runup to the Greek austerity vote, which should be Wednesday, with debate starting tomorrow. Expect ALL CAPS HEADLINES galore. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Hmm… Japan Is Having A …
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Newsflash: The radioactive crisis near Fukushima isn’t getting any better. From Japan Times: More than 3 millisieverts of radiation has been measured in the urine of 15 Fukushima residents of the village of Iitate and the town of Kawamata, confirming internal radiation exposure, it was learned Sunday. Both are about 30 to 40 km from the Fukushima No. 1 power plant, which has been releasing radioactive material into the environment since the week of March 11, when the quake and …
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We start the week with some interesting new in the USA, Core PCE Price Index; Personal Spending Income are some of the main highlight on today’s outlook. Let’s see what awaits us today. In the US, Personal Spending, important financial indicator that measures the amount of customer spending on the past month, further reduce Read more posts on ForexCrunch » Please follow Money Game on Twitter and Facebook.Join the conversation about this story
Earlier, I pointed out a recent study by David Glasner, which found that the correlation between the stock market (SP 500) and inflation expectation did not exist in the past until 2008. Since 2008, as inflation expectation rises, stock prices rise too. On the other hand, if inflation expectation falls, stock prices fall too.For whatever reasons which made this important change in the relationship between inflation expectation and stock prices (see more discussions by Scott Sumner, Kevin Drum, Paul Krugman, …
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The next time you ask for a drink at the bar, be warned that the cocktail you order will say just as much about you as the way you are dressed or even what you say. The bartender will know in an instant if you are a seasoned imbiber or a naif who has not yet gotten much further than rummaging around his parents’ liquor cabinet. Ordering a martini will definitely tell most bartenders you are not without your chops …
Some speculated that LG’s Thrill 4G would be the first 3D smartphone to hit the U.S. marketplace, but HTC’s EVO 3D hit shelves first, going on sale last Friday for all Sprint customers. It boasts a slew of high-end features, including a 4.3-inch touchscreen display with 540 x 960 qHD resolution, 1.2Ghz Qualcomm Snapdragon dual-core processor, 3G and 4G connectivity, and Android 2.3 Gingerbread with HTC Sense. But obviously, the best part about this new device is its three-dimensional capabilities.The …
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By Charles Rotblut, CFA Federal Reserve Chairman Ben Bernanke continues to be the enemy of savers. On June 23,the Boston Red Sox fan reiterated his belief that interest rates should be kept at rock-bottom levels for an extended period of time. He views this as necessary in order to keep the economy growing. Part of Bernanke’s problem has been his inability to accelerate the pace of money movement, or velocity. Velocity is an economic measure of how many times a …
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Your smartphone might be an expensive pocket computer, but it can help make up for its high price tag by cutting costs in other ways. Here are our top 10 ways to save money with your smartphone. This post originally appeared on Lifehacker.#10 Find fee-free ATMs ATM fees are ridiculously high, with many charging around $3 for a transaction outside of your bank. This is easily avoidable by simply checking for the nearest fee-free ATM using your bank’s smartphone app. …
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A while ago, we created a presentation on some of the greatest trades of all time. It featured men who had achieved billions of dollars through their financial aptitude, brilliant investment strategies, and some luck. John Paulson’s subprime trade, for example, qualifies big time. His Sino Forest trade, on the other hand, not so much. But for all the negative press Paulson’s Sino Forest trade has gotten, he actually only lost $107 million. That’s nothing compared to the losses these …
The weekend is almost over, and your time available to read anything longer than 200 words is winding down, so while you still can, you ought to take the time to read some good stories on Greece and Europe, since it’s the #1 topic that’s going to dominate the next week several years. Manos at LOLGreece wades into the debate about how hard the Greeks work, whether it’s a lie that their lazier than the rest of Europe. The answer: …
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A couple of years ago, I saw first hand what can happen to a founder, and the business, when the founder practices unhealthy habits, such as working 20 hours a day. A typical “Type A” personality, with boundless energy and enthusiasm, she aggravated some previous health limitations until she was bedridden, and the business floundered. Many entrepreneurs are too focused on their dream to take notice of health warning signs, which leads them to ignore business health signs as well. …
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George Soros said at a panel discussion in Vienna today that We are on the verge of an economic collapse which starts, lets say, in Greece, but it could easily spread.” The billionaire hedge fund manager whose huge bet on the collapse of the British pound earned him one billion dollars warned about the severity of the Euro crisis, saying, The financial system remains extremely vulnerable. He also explained how the crisis will probably end, according to Bloomberg: its probably …
Over the past week, a minor scandal has emerged in Silicon Valley over the way a bunch of senior Skype executives were treated after the company agreed to be acquired by Microsoft for $9 billion. The first report was that the executives had been fired before the deal closed to save a bit of payout money for Skype’s investors, namely private equity firm Silver Lake. This story was quickly debunked, or at least muted, when it emerged that the firings …
Wikipedia is adding a “WikiLove” button to its pages, it has announced. The way it works is that Wikipedia users can send each other whimsical or nice badges of appreciations and messages. The reason is that being looked down upon by other editors or not feeling appreciated for their contribution is one of the most-widely cited reasons for not contributing more in Wikipedia’s surveys. So they’re trying to fix it with a love button. It sounds silly, but it actually …
In a note recently published on his site (.pdf), Richard Bernstein argues that there’s a massive disconnect between how investors view the BRIC nations, and what the actual economics on the ground are indicating (via PragCap). Whereas investors have suddenly become pessimistic on the US, it’s actually those emerging markets flashing the brightest recession warnings. Now bear in mind, this was first published in early June, and some of the data has already gone out of date, given what a …
Facebook has started shutting down apps with tens of thousands of active users left and right, AllFacebook writes. The reason is Facebook didn’t really police these “small” apps before and now has rolled out an algorithm that automatically shuts them down if they post too often to users’ walls, etc. The problem is that Facebook didn’t tell app makers it was going to do this, so these just woke up Friday and saw their app had been shut down, and …
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BaiduandQunar, the vertical travel search engine in China announced today that Baidu has invested US$ 306 million in Qunar to become the latters biggest institutional shareholder. According to the two parties, Qunar will still operate independently after the investment. Actually, this is the largest investment Baidu ever made in the companys history, which is also to date the largest investment in Chinas online travel field. Baidu CFO Li Xinzhe said today:Travel has always been one of the top categories of …
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I was about to sit down to write about lulzsec and anonymous when news came about that lulzsec is hanging its hat. However, I believe things are far from over. This week, I look at how we got there and why I feel it’s far from over.The beginningIn the early days of the computing revolution, hackers and regular computer users were often indistinguishable. Core to some of the early ethical tenets of the computer world was a certain sense for …
The latest edition of The Main Street Economist, a publication of the Kansas City Federal Reserve, looks at the incredible (and well known) boom in farmland real estate, while also reminding people of how quickly that could all evaporate if there were another bust like in the early 80s. The good news is that the wealth of farmers is about to hit an all-time high. Looking at the severe bust in the early 80s, you can understand why Farm Aid …
Continue reading about CHART OF THE WEEKEND: The Incredible Comeback For The American Farmer
Last week Obama headed to the Upper East Side to wine and dine Wall Street. The DNC fundraiser at tony restaurant Daniel cost attendees $35,800 each, and the event netted $2.4 million. Obama talked to his audience, which include hedge funder Marc Lasry and the CEO of UBS Americas Robert Wolf, about topics ranging from the economy to the 2012 race to Afghanistan. According to Businessweek, Theres a disquiet out there, the president told the wealthy donors, because people recognize …
The Great Recession officially began in December 2007 and ended in July 2009. This doesnt mean that the economy has returned to where it was before the steepest downturn since the Great Depression and may not for years. According to a recent report by IHS Global Insight, employment is not expected to return to its pre-recession peak until 2014. To be sure, parts of the U.S. are recovering. Experts expect the economy to grow an average of 3% in the …
Continue reading about Ten Cities That Will Take A Decade To Recover From The Recession
Just announced by LulzSec, the hacker group that’s been on a tear for the last several days, hacking companies and even the state of Arizona, an announcement that it’s finished.e fol The following note was pubbed here, and tweeted from the @lulzsec account. — We are Lulz Security, and this is our final release, as today marks something meaningful to us. 50 days ago, we set sail with our humble ship on an uneasy and brutal ocean: the Internet. The …
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Goldman Sachs has agreed to advise the Ukraine government for free, according to Bloomberg. The bank, “which hasnt arranged a debt or equity sale in Ukraine since at least 1999… will advise the administration of Prime Minister Mykola Azarov on managing its investments, state debt and ‘other issues of financial-policy implementation.’” “The selection follows Goldmans third attempt in 17 years to crack ” the former Soviet Republic. Meanwhile other American banks including JP Morgan and Morgan Stanley have work on …
Earlier we mentioned how John Mauldin was at a (wine-soaked) dinner in Europe, where one notable economist predicted the demise of the euro. In his latest note, he offers up another idea, sourced to nobody except his own speculation —— A Greek Coup?Now, time for some speculation on my part. For Greece to leave the euro, the politicians would have to make a rather serious decision. That will not happen overnight. The minute there was any speculation or a secret …
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Charles Gave is the French economist whose research firm GaveKal is fairly well known, and read in some hedge fund circles. In his latest note, John Mauldin reports on a dinner he attended with several investors and experts, of which Gave was one. At the dinner, he predicted the Euro’s imminent demise. The section of the note is below. ——– Will the Euro Survive? We had dinner on Monday night at the home of Hervig von Hove of Notz-Stucki Bank, …
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Last night we caught up with Marcus Samuelsson, owner of Harlem’s Red Rooster and winner of Bravo’s “Top Chef Masters” Season 2. Samuelsson, a Swedish chef of Ethiopian descent, had teamed up with Planters to create some new recipes using the company’s newly launched peanut butter (we know, we also couldn’t believe that there wasn’t already a Planters PB). Click here to go behind the scenes at a tasting with the Top Chef Master After unsticking our jaws we joined …
Today we’re bringing you all the best iPhone and iPad apps you may’ve missed during your busy workweek. We’ve collected the best of the best new apps, like an app to stream every concert free and live from the iTunes Festival, an app that cycles through news on your bed table or desk, and even a web browser app that lets you chat on Facebook while you’re browsing. Plus much more. Click below to see our favorites from this week.That …
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Late Friday night, the New York State Senate made history by voting to legalize gay marriage in New York. Michael Barbargo at NYT has a great piece on how it all came together — how the Senate was able to reverse its 2009 vote opposing the measure, and how Cuomo and gay rights allies were able to peel away enough support from Republicans to see the bill go through. Right at the top of the story is anecdote about Cuomo …
Too busy to keep up with the latest and greatest Android apps? We’re here to help. Developers brought a bunch of iPhone hits to Android this week, including Hulu Plus and Zipcar’s incredible app that let’s you unlock your rental car from your phone. And that’s just the tip of the iceberg. Click below to check ‘em all out.Cut The Rope FINALLY launches on Android Cut The Rope is one of the most popular games on iPhone, and it has …
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We’re nearly halfway through the year, and the muni market has not imploded. In fact, it’s the opposite: Munis have rallied, and anyone who dumped their munis after listening to Meredith Whitney has regretted it. Of course, things take awhile to play out, and the doomers might still be right. But are they? By far the best thing we’ve read lately on the subject is this letter published (via @munilass) by the Nevada state Treasurer Kate Marshall, which is a …
Google is gearing up to launch its Groupon-killer, Offers, in New York. After talking with merchants who have signed up to provide deals through Offers, we’ve learned that Google’s deals product provides merchants several key advantages relative to Groupon, advantages that could shake up the deals business. We’ve also learned that at least one Google Offers salesperson in New York is promising merchants that signing up Offers will provide “SEO benefits.” Specifically, a merchant tells us, the Google salesperson promised …
Google launched its Groupon-killer, “Offers,” in Portland, Oregon, about a month ago. And now it’s gearing up to launch in San Francisco and New York. Could Offers become a massive new revenue stream for Google–the “second huge growth engine” that Google has long searched for in vain? Could Google’s entry into the deals business clobber Groupon and other deal providers like Living Social? To begin to answer these questions, we spoke to representatives of merchants who have signed on to …
LinkedIn Founder (and top startup investor and PayPal mafia don)Reid Hoffman just gave an interview to the Journal. Most of it is boilerplate — for example he looks to invest in product visionaries who build products that can have massive scale — but the funny part was when he said that the most successful startups tap one of the seven deadly sins. So when it comes to social startups, “Facebook is ego. Zynga is sloth. LinkedIn is greed.” He doesn’t …
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When Kostas Dekoumes, a 24-year-old Greek, is asked about Europe, he launches into a rant about German Chancellor Angela Merkel. When Oleguer Sagarra, a 25-year-old Spaniard, is asked the same question, he says that Europe represents the only chance to find work. Karl Gill, a 21-year-old Irishman, responds to the question by railing against the banks. And when Jacques Delors, 85, is asked about Europe, he says things like: “Europe needs a pioneering spirit,” and he asks: “Do the men …
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This is disappointing. The New York Post skipped doing a big gay marriage cover after last night’s historic vote and instead went for a heroic fireman cover. It’s not all bad, the website appears to be attempting to make up for it with happy headlines and slideshows. Sigh. This more like it. Well done, Daily News. And here’s NYP website….would have made a great cover, actually. They have a slideshow of images here. Please follow The Wire on Twitter and …
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Mikhail Prokhorov, the billionaire Russian who owns the New Jersey Nets, has just been elected head of Russia’s pro-business political party and is already speaking out on behalf of fellow oligarchs who are in jail. Prokhorov, who was elected head of Russia’s Right Cause party Saturday, vowed to overtake the Communist party as the no. 2 party in Russia and to support the reelection of President Dmitry Medvedev for a second term in 2012, Reuters reported. And he wasted no …
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Travelers on the Athens metro enjoy air-conditioning, cool and cavernous departure halls, plasma screen entertainment, on-time trains — with no barriers to prevent free entry and few policemen who bother checking tickets. In fact, Greece hardly even pay for the subway system, which were funded by the international community in the lead-up to the 2004 Olympics. “The Big Fat Greek Gravy Train” is the highlight feature in an investigation into Greek corruption by The Daily Mail. This is the latest …
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A recent court decision allowing an on-line financial newsletter to report analysts ratings changes on stocks may have a larger negative impact on independent boutique research firms than the big Wall St. firms that originally brought the suit.In Barclays Capital Inc. v. Theflyonthewall.com, Inc., decided earlier this week, a three judge panel of the US Court of Appeals in New York reversed an earlier ruling that had required the on-line newsletter to wait until 10:00 a.m., 30 minutes after the …
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The former chairman of Egypt’s Bank of Alexandria and the Egyptian American Bank pled guilty yeseterday to sexually abusing a New York maid. Mahmoud Abdel Salam Omar was arrested within weeks of the other maid fiend, Dominique Strauss Kahn. Details from Reuters: He was arrested in late May on charges of abusing the maid when she delivered tissues to his room at the Pierre Hotel on Manhattan’s Upper East Side. The maid, Doris Offei, also on Friday filed a civil …
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After weeks of suspense and negotiations, the New York State Senate Friday nightpassed a bill allowing for same sex marriages in New York State. New York will become the sixth and largest state in the nation to allow same sex marriages, once the legislation is signed by Governor Andrew Cuomo. The bill was only brought to the floor by Republican Majority Leader Dean Skelosafter the inclusion of a religious exemption, protecting places of worship from litigation if they refuse to …
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This week’s news about the coordinated release of strategic oil reserves by several countries helped to push crude oil futures prices down sharply. One interesting side effect of the selling was that the sympathetic selling in other commodities helped to spark the selloff in gold and silver prices that I wrote about 2 weeks ago, according to the 1980 bubble top’s price pattern analog. While this release of oil from the Strategic Petroleum Reserve (SPR) has helped to push down …
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“What just happened will double the number of people in the United States for whom same-sex marriage rights are a reality.” Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Is Harry Reid Cutting Nancy Pelosi Out Of The Budget Talks?HMM: Bill O’Reilly Tries To Take Credit For The Capture Of Whitey Bulger?Karl Rove: Here Is Why Obama Will Be A One Term President
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It’s a weekend, and that means it’s time for a bitchmeme. It’s not often that I call for someone to be fired, but, well, when it comes to Apple I have been giving that company more than its fair share of cash lately and there are some things that it’s done that totally piss me off. Here’s three. If I was Steve Jobs I would be ashamed and would make these three people pay: 1. Whoever designed the new 27-inch …
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Meet Eguchi Aimi. She’s the newest member of Japan’s teen girl group, AKB48. Like the rest of her 47 band mates, she’s the embodiment of the a tween pop idol. She’s got a sugary voice, perfect hair, shiny skin, and an unrelenting desire to plug consumer products, namely Glico’s Ice No Mi candy. She appeared in the June 13 issue of Shukan Playboy magazine, where she was described as the “Ultimate Love Bomb.” Aimi’s star was rising fast. What makes …
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Earlier this month, Walt Disney (DIS) issued a statement saying its CARS franchise is expected to be a moneymaking venture in waiting. CARS 2 hit the theaters today, and analysts predict that merchandise sales will beat last year’s TOY STORY 3 sales. Already, Cars has produced more than $10 billion dollars since its release in 2005. But thinking back to last summer, TOY STORY 3 provided profound wisdom and analysis on the economy something that CARS 2 likely wont compete …
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Linda Eastman was an American up-and-coming photographer of rock ‘n’ roll bands when she traveled to London to document the cultural revolution in the 1960s, known as the “Swinging Sixties,” and met Paul McCartney in a bar. They married in 1969, and she became Linda McCartney — the wife of a Beatle and the mother of Stella McCartney, the famous fashion designer to the stars. Throughout her life in the spotlight, Linda took some 200,000 photographers of musicians in their …
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Apple has just released the second beta of iOS 5 for developers. The biggest new addition: Wi-Fi syncing with iTunes 10.5 (also a developer beta released today) is ready to go. We just did a full restore and install of iOS 5 beta so we could test out iCloud’s new backup. All you do is log in with your Apple ID and your phone restores from it’s last backup point. After a quick download, the phone restarts. You have to …
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Earlier this week PIMCO’s Bill Gross said that college is a waste of time. Then NPR dug up these statistics from the U.S. Bureau of Labor and Center for Education, which show the amazing discrepancy between college and high school educated adults when it comes to pay and unemployment rates. In 2010, the unemployment rate for college grads between ages 24-34 was 4.9%, compared to 13.7% for those with a GED. And as for pay? In 2009, college grads made …
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Looking to get a headstart on the day’s most important financial and economic stories? If so, you’ve probably seen the daily “10 Things You Need To Know Before The Opening Bell” posts on Business Insider. Now, this easy-to-read, early morning digest of the 10 most important stories that you need to know before the market opens is available as a daily newsletter delivered straight to your inbox, M-F. Signing up is quick and easy. Use the form below to enter …
New details have emerged about the celebrity poker games attended by Beverly Hills hedge fund manager Brad Ruderman. Background: Ruderman (who is now in jail) has been accused of paying poker debts to celebrities like Tobey Maguire using investors’ money from his hedge fund. Ruderman allegedly attended celebrity poker games, lost money, and paid debts using investors money. Maguire is now dealing with a lawsuit dealt by Ruderman’s former clients, who are trying to recoup the losses they incurred by …
European leaders are convinced that bank capital is expensive, in the sense that raising capital requirements would slow economic growth. But the latest developments in the Greek crisis show that the exact opposite is trueits European banks lack of capital that threatens to derail European and global growth. Banks capital simply refers to their equity fundinghow much of their liabilities are owned by shareholders rather than being owed to creditors as some form of debt. The advantage of equity capital …
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Three years after the financial crisis, Americans have less faith in banks than ever. A record-high 36% of Americans polled by Gallup said they had “very little” or “no” confidence in banks. Meanwhile the number of Americans with a lot of confidence in banks is slightly higher than last year. America’s outlook is polarizing. Please follow Clusterstock on Twitter and Facebook.Join the conversation about this story See Also:Careful: Under-Cover Regulators Are In Your Office Right Now
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Kirk Simpson learned a thing or two after his first start-up joined the dot-com graveyard in 2001. Such as: don’t start a business with friends. “There’s a tendency with your first business to surround yourself with friends as co-founders,” says Simpson, who launched adventurelifestyle.com in 1997 at age 23, after dropping out of college. The site helped people arrange extreme adventure trips, such as bungee jumping excursions. “I think there’s a natural desire to do it. You have to look …
Have a peek at what Skype could like like once it finally lands on the iPad. The video below was posted to Skype’s official YouTube account earlier today and was removed shortly afterwards. If it’s real, then it looks great. Video calling supported over 3G and wifi? Awesome. [Cult of Mac] Please follow SAI: Tools on Twitter and Facebook.Join the conversation about this story See Also:Instagram Gets An Awesome Web Interface For Browsing Photos And Commenting11 Stupid iPhone Apps That …
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Facebook is quietly eating up all the time we spend on the web at the expense of all other static non-Facebook sites, according to an analysis by Ben Elowitz CEO and founder of Wetpaint, a digital media startup. If you exclude online video, and mobile web consumption, Elowitz says, “the web is shrinking.” He says the rest of the web is quickly becoming “irrelevant,” and argues that in the future companies will need to spend less time on SEO, and …
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Here’s an amazing new video (courtesy of Deadspin) taken from the middle of the post-Stanley Cup riot in Vancouver, that shows the very moments when an otherwise peaceful gathering descended into the chaos. The first few minutes are just people (a LOT of them) quietly watching the final moments of Game 7 wind down. It was clear at this point that Vancouver was going to lose, and off in the background, things start to get a little restless. About 2 …
In 1994, Management guruPeter Druckertold Japanese retail tycoon Isao Nakauchi that even though Chinese market is very attractive, it still has more system risks than others and China will eventually face very serious inflation. And the bubble is both much bigger and more extended than the bubble that burst in Japan a few years ago. This prophecy sounded very sensational back then when the Chinese miracle started taking off and Japanese one went bust, but now its shocking precision has …
The Chinese financial systems evolution in recent years has been extraordinary. I have observed its transformation as a member of the International Advisory Council of the China Banking Regulatory Commission (CBRC). Back in 2002, all of Chinas major banks were awash in non-performing loans (NPLs), which in some cases amounted to more than 10% of the total balance sheet. None of the major banks met even the Basel 1 standards for capital adequacy. Few financiers in London or New York …
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What’s the ultimate contrarian bet? Homebuilders. As a group, homebuilder stocks are in the sixth year of a deep slump, with a 15% average annual loss over the past five years versus the SP 500 Index’s 2.8% average annual gain. Some industry analysts even view current conditions as indicative of a “double-dip” depression, since the expiration of the first-time-homebuyer credit last year and the hyperactive-foreclosure market have combined to stifle growth just as there were early signs of recovery last …
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The US has roughly 1 trillion barrels of oil equivalent in coal resources, or more. It has twice that amount in kerogen resources, but we are looking at coal specifically. The challenge has been to find ways to burn this massive coal resource cleanly, so as to provide abundant and inexpensive electrical power and heat to what should have been a healthy economy — if not for a government policy of planned energy starvation. Georgia Tech. researchers have devised self-cleaning …
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“It would reduce the deficit in the eyes of the market and at the same time it was policy the Obama administration wanted to implement anyway.” Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Barney Frank: I Was Disappointed By The President’s SpeechTim Pawlenty Calls Obama’s Speech Deeply ConcerningIs Harry Reid Cutting Nancy Pelosi Out Of The Budget Talks?
Vice President Joe Biden this evening acknowledged that the debt ceiling negotiations are effectively over until President Obama and Speaker of the House John Boehner reach an agreement on “tax expenditures.” In a statement, Biden reiterated that the negotiations, which imploded earlier today after Majority Leader Eric Cantor backed out of them, are in “abeyance.” Biden highlighted the bi-partisan group’s accomplishments, including reaching agreements on “substantial” spending cuts. He did not criticize Rep. Cantor for walking away from the talks …
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The debate between the Web vs. Apps, between HTML5 vs. Native applications, has long been marked by half-truths, spin, and misinformation. This week the supposed conflict took another false turn. The app analytics company Flurry put out a press release that alleges that Mobile Apps [have] Put the Web in Their Rear-view Mirror. This Flurry report is getting a lot of play around the blogosphere. So we decided to look more closely. And it turns out the Flurry methodology here …
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When Nanosys CEO Jason Hartlove pulled two iPads out of his bag and turned them on one looked like when I first saw my first Kodachrome slide while the other looked muddy and crappy in comparison (I pulled out my own iPad and saw my screen looked muddy and crappy in comparison too). The new one was clear, beautiful, stunning, with richer colors than I had ever seen on a screen before. Is that the new retina display? I immediately …
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President Obama’s Wall Street offensive continues tonight, with a $35,800 per guest dinner at Upper East Side restaurant Daniel. Self-described “bad boy” and former fund manager Ross Mandell is on trial for a “decade-long scheme to pump unwitting investors for money to fund pipe-dream companies,” and he was reprimanded for smirking in court yesterday. Bank of America is set to foreclose on real estate mogul Kent Swig and his wife because they haven’t made any loan payments on their Upper …
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Japanese rugby player Ryohei Yamanaka will miss the upcoming World Cup and may face a two-year ban from the sport after failing a performance enhancing drug test. The culprit? A hair growth cream that he used on his mustache. The cream apparently contains a banned steroid that he was unaware of. Yamanaka was ashamed that such a mistake could cost him and his team, but was quick to point out that the hair growth cream was not for his head. …
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Living close to a body of water has its share of real estate perkswater views, waterfront properties, private beaches, and personal boat launches are a few top-of-mind examples. One type of real estate that ultimately takes advantage of water, however, is the floating home. Perhaps the most popular floating home was the one used in the hit movie, Sleepless in Seattle, starring Tom Hanks and Meg Ryan. Not to be confused with a house boatwhich is mobile and can move …
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Cook County Treasurer Maria Pappas oversees 553 local government bodies. They include school districts, municipalities and all the other line-item entries on property tax bills. Two years ago, she asked each and every one of those local government bodies to provide an accurate accounting of their debts and obligations. On Tuesday she disclosed a semi-complete total: $108 billion. That’s a fair amount of money. Sadly, it won’t be the final total. There are 53 entities that still need to report …
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I’ll start this review off with one big caveat: I’m pretty old-school when it comes to reading. As much as I love gadgets, I still prefer to read books on dead-tree matter instead of a screen. I’ve never owned an e-reader, and I couldn’t get used to reading books on my iPad’s bright LCD screen. So using the Nook Simple Touch is actually the only extended period I’ve ever spent with an e-reader. And I really, really like it. Click …
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Samsung has just announced that they are about to start selling their first solar-powered NC215S net book in the U.S. for $399 from the July 3rd. According to the manufacturer, the US model will boast a 10.1 inch, 1024 x 600 pixel display, 1GB of memory, and a dual core processor. The best part the solar charged battery is aimed to provide up to 14 hours of life from a fully charged battery. I love the idea especially when you …
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The following is a guest contribution by Brian Heidelberger. The NBA draft is right around the corner and whatever number your player is picked, hes going to have to pick up not only his game, but also his business skills, unless he wants to end up as one of the 60 percent of NBA players who are broke within five years of retirement. Some pro athletes have it down, and I have been privileged to provide legal counsel to a …
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Check out what happened when the two best tennis players in the world did a promo video for the charity “Match For Africa” last year. (This was before Novak Djokovic won 42 matches straight). Please follow Sports Page on Twitter and Facebook.Join the conversation about this story
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The beautiful N9 smartphone Nokia unveiled the other day wasa good sign of things to come, as we hoped. While the N9 runs MeeGo, an operating system that’s innovative but won’t ever make it big, Stephen Elop just unveiled a brand new phone from Nokia that looks just like the N9 but runs Windows Phone 7. Apparently, Elop told reporters on scene to quit using their cameras, but obviously a few of them did and caught a glimpse of Nokia’s …
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Even though Apple has not officially released the iPhone for T-Mobile USA, a million iPhones appear on T-Mobile’s network, a company rep told 9to5Mac. The iPhones are unlocked, and T-Mobile users are cutting their SIM cards to fit into the phone. Apple has long been rumored to release the iPhone for T-Mobile, but it has yet to happen. With ATT and T-Mobile merging, T-Mobile customers should be getting the iPhone in the next few years, but who wants to wait? …
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Hulu Plus finally launches on Android. Please follow SAI on Twitter and Facebook.Join the conversation about this story
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For more than ten years, ATT has technically been in the CDN space but has not had a lot to show from it. Their legacy CDN platform, ICDS, never really worked well and even though the company announced in late 2007 that they were going to spend $70-$80M to build out a new CDN, those plans never came to fruition. So naturally, when ATT announced late in the day on Wednesday a new cloud-based CDN platform, many probably didn’t take …
Continue reading about AT&T Announces They Are In The CDN Space — For Real This Time (T)
Hulu has finally launched its Hulu Plus app on Android. It’s only “phase one” of the Android launch (translation: it only works on a few phones right now), and it’s a free download in the Android Market. Supported phones include: Nexus One, Nexus S, HTC Inspire 4G, Motorola Droid II, Motorola Droid X, and the Motorola Atrix. You may be able to get it to work on a few other devices, so try your luck and let us know in …
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Greece is falling apart, and Jon Stewart thinks he knows why. “Have you ever been just fed up, and you think, ‘You know what? Enough with the rat race and chasing some materialistic dream. I’m just going to chuck it all and move to some fishing village. Drink ouzo and eat grilled lamb all day. Charm tourists with my lusty, full-of-life attitude while subsisting on a pensioner’s stipend?” “What would happen if an entire country had that idea… at the …
Continue reading about JON STEWART: Goldman Sachs, The Greek Crisis Is Your Fault
Yesterday at around 2, Bernanke declared deflation dead. Today oil is getting killed following those weak Jobless claims. It’s now fallen over 4% since then. Gold is also getting killed: It’s off $30/oz! Things were already negative, and that was before that bad initial claims report. From FinViz, a chart of oil: Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:The Venezuelan Paradox: Ultimate Proof That Hugo Chavezism Has FailedOIL! (It’s Tanking)In Case You …
China’s already home to half of the 10 tallest buildings on the planet, but apparently they’re still not satisfied. American architecture firm Adrian Smith Gordon Gill announced Tuesday that the firm won a competition to design a new skyscraper in Wuhan, the most populous city in central China. The 119-level Wuhan Greenland Center will be 1,988 feet tall, likely making it the fourth-tallest building in the world when it is completed in 2016, according to AS GG. It’s designed to …
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John Paulson has been getting crushed this year. The Wall Street Journal has an update on his losses this month and he’s now down 15% in his Advantage fund. A week or so ago, Paulson’s fund was down 13% in June. Today’s news that he’s down 15% means his YTD losses went from -19.65% to -20.9%. OUCH. Apparently some of the losses come from gold mining stocks. Please follow Clusterstock on Twitter and Facebook.Join the conversation about this story See …
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One of the hottest startups in the world, Foursquare, has scored another win–this time with a nationwide deal with American Express. The deal will offer American Express cardholders discounts in some shops and restaurants, Jenna Wortham of the New York Times reports. Amex and Foursquare did a small test at South by Southwest in Austin this spring, and now they’re expanding it. According to Amex, cardholders who participated in the SXSW test spent 20% more than cardholders who didn’t. The …
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Since November 2007, PepsiCo (PEP) has moved senior executives within the marketing ranks of its soda and beverage brands eleven different times, the last three of which were confirmed June 20 by Ad Age. Nineteen of the top marketers at Pepsi were not in their jobs three years ago, according to Carlos Laboy, an analyst with Credit Suisse. This time around, two of the new top marketers at Pepsi carry the comedic job titles of senior VP/global hydration and president/global …
Chinas omnivorous energy requirements have been attracting increasing attention as of late, as Beijing attempts to secure any and all sources of power for its growing industrial base. Nowhere is this more noticeable than Beijings policies in the South China Sea, where Chinese assertions of sovereignty are unsettling the Philippines, Taiwan, Vietnam, Malaysia, Indonesia and Brunei, all of whom have counter claims on the various shoals and islets. Chinas landward neighbors are also feeling the hot breath of Beijings mandarins, …
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Finding a web designer or website developer can be the toughest decision any website or business owner can make when building or improving their website on the internet. Many businesses attempt to find the same person to fill both of these roles, when in fact these roles couldnt be more different. Finding a webmaster who can be both your web designer and your website developer can be like finding a needle in the haystack. In order to help with your …
Earlier we mentioned reports of a “hole” in the new austerity plan, suggesting that already the deal isn’t expected to reduce the debt by as much as previously advertised. That’s not all that’s going wrong. FT has a good story on how the new Greek finance minister, Evangelos Venizelos, has managed to anger the rest of his European counterparts, by attempting to already renegotiate privatization plans and also change the timeline of the imminent vote. The article quotes on diplomat …
I’ve been waging a bit of a campaign to convince consumers that searching and applying for credit cards online is the best way to go. (Now, obviously, I have a horse in this race: Outlaw publishes a comprehensive online card offers portal where visitors can seek out and compare the best deals from rival credit card issuers.) Regardless of my economic alignments, though, I think the argument is compelling — and fairly obvious. I find it comic that people still …
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GOP presidential candidate Jon Huntsman is the first 2012 contender out with a reaction to President Barack Obama’s speech, saying Obama is moving too slowly in removing U.S. troops from Afghanistan. The Republican party has split over the War in Afghanistan, with deficit hawks like Huntsman opposing defense hawks like Sen. Lindsey Graham (R-SC). Graham said on CNN moments ago that Obama should have kept the “surge” troops in Afghanistan until the end of the traditional fighting season which stretches …
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Obama just announced plans to bring home 30K troops from Afghanistan, news which has been telegraphed in the press for days. The most interesting part: At the end, where he reveals the cost of the war on terror, and connects it to his desire to invest more at home. Above all, we are a nation whose strength abroad has been anchored in opportunity for our citizens at home. Over the last decade, we have spent a trillion dollars on war, …
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Contagion ON. Irish short-term yields just hit an all time Euro-era record high. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Now Ireland Wants To Take The Hatchet To Senior Bank BondholdersIn The Last Several Minutes A Bunch Of Stuff Happened In Europe, Where Contagion Fears Are Now Racing Towards Ireland
An oversight in the Affordable Care Act allows millions of middle-class Americans to qualify for Medicaid. According to the Daily Mail, the loophole was discovered after the bill was signed into law and will allow couples earning four times the federal poverty level, access to entitlements designed for the poor. Officials making long-range cost estimates for Health and Human Services estimate that an early retired married couple could have an annual income of $64,000 and still qualify for medicaid. The …
Good morning! Here’s what you need to know: New details on the iPhone 5… …and Apple’s potential TV. Yahoo reportedly wants to buy Hulu… …and replace its CEO. Google hit one BILLION uniques in May. RIM is so cheap, Microsoft may have no choice but to buy it. Google gets ready to kill Skype. Comcast says Netflix is good for business. TechCrunch’s Mike Arrington keeps bullying entrepreneurs. BONUS: Check out Boeing’s sexy new 747. Please follow SAI: Silicon Alley Insider …
Bloomberg has reported the first sourced explanation we have heard for why Apple delayed the release of the iPhone 5. Citing two people familiar with the company’s iPhone 5 plans, at least one of which is likely located in China or Taiwan, Bloomberg says Apple “pushed back the release of the next iPhone to coincide with the release of the new iOS 5.” Here are some other new details on the iPhone 5 that Bloomberg has dug up. The iPhone …
Bloomberg TV aired a “Game Changers” episode about Mark Zuckerberg on Tuesday night. The one-hour documentary offered an excellent look inside the making of Facebook, featuring interviews with many of the key players (although Zuckerberg himself “declined to participate.”) Part of Bloomberg’s description: “From rarely seen footage shot on location inside the company’s corporate headquarters in 2005, to interviews with billionaire technology investor Yuri Milner and former Chief Privacy Officer Chris Kelly, Bloomberg Television examines Zuckerberg’s fast track from geeky …
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Social media etiquette aside, there are benefits for all of us in social media bookmarking and blog commenting strategies. First, when you share valuable information through social bookmarking, you position yourself as a resource to your online community. You train your potential customers to follow you to stay up to date and in the know on advances, news and strategies in their fields of interest. Social sharing creates social influence for you and the original content creator. When you comment …
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It’s crunch time for the debt ceiling fight, even as the GOP begins to show says of fracturing, according to David Rogers’s latest at POLITICO. The split within the GOP looks like this: Some in the party, like Senator Mitch McConnell are open to a temporary debt ceiling hike, just to make sure we don’t get into any dangerous territory, while also continuing budget talks. Part of their concern is that any broadbased deficit reduction package will inevitably involve tax …
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Former state Sen. Mark Amodei is running for Congress on the platform that he won’t raise the debt limit and let China literally take over the U.S. Here’s his new ad: Of course this is becoming a common refrain in debt talks. Remember this terrifying ad depicting a Chinese professor gloating about owning America? Please follow Politics on Twitter and Facebook.Join the conversation about this story See Also:Can Jon Huntsman Win The New Hampshire Primary?Can Michele Bachmann Win The Iowa …
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Bloomberg dug up some new details on the iPhone 5, which it says is coming in September. Some of them are already out there: The iPhone 5 will include a faster chip, the A5, that Apple is using with the iPad 2 The camera resolution will improve to 8 megapixels, from 5 megapixels The iPhone 5 release was delayed until September to wait for the iOS 5 release. (This is the first time we have heard an explanation for this …
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Cocaine on the streets now in New York and Los Angeles is cut with a drug that’s causing users skin to rot off, doctors say. According to KTLA, physicians at Los Angeles Biomedical Research Institute say drug dealers are cutting cocaine with levamisole, a chemical used by veterinarians for deworming livestock. Levamisole damages blood vessels under the skin, causing the rotting. A study by the Journal of the American Academy of Dermatology looked at six cocaine users who ingested the …
European governments are selling off some of their state assets, including airports at major capitals, horse breeding operations, and even mountain peaks in order to help them with their large debt burden. Bloomberg calls it “the continents largest yard sale of state assets in more than a decade.” The billions in assets up for sale might not even make a dent in reducing the large debt loads in countries like Greece, however.Ireland: The National Stud Ireland may sell off its …
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Check out some of the latest MakeUseOf discoveries. Most of the listed websites are FREE or come with a decent free account option. If you want to have similar cool website round-ups delivered to your daily email, subscribe here.Add Your Website Here!Wee Nudge If you are a web designer, you will know very well that clients can be annoying. They can be really stubborn about requesting things that either don’t make much design sense or end up not being user …
Women in the workplace are continually overextending themselves, bending over backwards unnecessarily just because it’s the “nice” thing to do. Yet, it’s difficult to achieve one’s own personal goals in business while constantly making everyone else happy. Women are often pushed aside and disrespected in the workplace, yet women seldom push back because, as author and president of Corporate Coaching International, Lois Frankel, would argue, they were raised to be “nice girls.” Nice girls make everyone else in the company …
Even more surprising: O’Donnell has found common ground with Sean Hannity! Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Ed Schultz Reports That The Bachmann Campaign Will Officially Launch On MondayHARDBALL: Chris Christie’s Brash Style Will Not Work NationallyMADDOW: The New York Times Is Accusing Clarence Thomas Of Accepting Bribes!
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New York daily-deal aggregator Yipit raises $6 million Series B from Highland Capital, RRE, DFJ Gotham, and others. Please follow SAI: Silicon Alley Insider on Twitter and Facebook.Join the conversation about this story
Newspaper giant Gannett fires 700 employees as ad revenue continues to sag. Please follow SAI: Silicon Alley Insider on Twitter and Facebook.Join the conversation about this story
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Back of my mind I’m like damn, no way translate español, no way Jose —Kanye West, Big Brother Way —Garth Because I spend a huge portion of my time looking at new technology companies, it’s getting more and more difficult for entrepreneurs to surprise me. Nonetheless, a young entrepreneur named Ren Ng recently walked into the firm and blew my brains to bits. You see my mind has been softened by the past 185 years of data, which left it …
This is probably not the market reaction some bulls were hoping for following the Greek vote. Sure, Asia is rallying. But.. The euro is slowly grinding lower in the early hours of Wednesday, and US futures are subtlely lower. Maybe markets are about to start getting nervous between the long period between now and the actual austerity vote in about a week? Or maybe just noise. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See …
Shipping companies like UPS and FedEx are frequently seen as the best economic bellwethers around. Therefore, when FedEx reports earnings tomorrow, it will be read for clues to the broader economy: Domestic activity, the US consumer, China, etc. Here’s what to expect, courtesy of Deutsche Bank: Earnings: Look for $1.70/share and revenue of $10.4 billion. For Fiscal Year 2012, Deutsche Bank sees EPS of $6.42, which would represent a 13.6x forward multiple. The outlook is key. Deutsche Bank expects it …
Well, the Papandreou government got one step closer to a bailout, winning a key confidence vote, but… The euro is slipping a bit. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:How The Greeks Can Knock The Ball Right Back Into The EU’s CourtGREECE: Why This Bombshell Interview With The Belgian Financial Minister Is The Talk Of EuropeThe 20 Institutions Most Exposed To A Greek Default
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Albrecht Ritschl, an economic historian, talked to Spiegel on his view of the Greece problem. Curiously, he points out that Germany’s default in the 20th Century was probably among the biggest of all. After the First World War, the Treaty of Versailles demanded Germany to pay huge amount of reparation in gold marks (i.e. essentially to repay in gold). In John Maynard Keynes Economic Consequences of the Peace, he clearly opposed the harsh demand, fearing that it would ruin the …
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When starting a company, it’s hard to know what to tackle first. One Quora user asked: “What generic first order principles should a new technology project or startup follow?” Founder Adam D’Angelo responded and listed his priorities (Ok, ok, Quora hasn’t completely fallen off the face of the earth). He writes: Figure out what’s important and focus almost entirely on that. Make massive tradeoffs to get the first version done quickly If it’s a project where users interact with each …
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The masses could not stop talking about Jon Stewart’s interview on Fox News. The “Daily Show” host took down Chris Wallace and Fox News, but also returned to his old trope that “I’m a comedian first.” Will Bunch wants to know if it’s time for Stewart to give up the schtick. As he writes on his Attyood blog, “The lamest thing of all, frankly, is Stewart trying to absolve responsibility from the gravitas of what he does — and make …
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With college costs soaring, new grads staggering under record amounts of debt, and a grim employment picture, youd think students (and universities) would be buckling down and focusing on serious academic pursuits. Wrong! Crazy courses are a long-time college tradition. But even in the wake of the Great Recession, course catalogs are still loaded with goofy, lightweight classes, and students still are lining up to take them. Many of these offbeat offerings are consistently enrolled to capacity, and some, like …
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Hulu is considering selling itself after being approached with a buyout offer, according to tweets from CNBC and WSJ reporters. Julia Boorstin at CNBC says the offer did not come from Google, but doesn’t say who the offer did come from. We’re not sure who would buy Hulu. It’s a tricky business because it relies on contracts with Disney, News Corp, and NBC to get its content. Those three companies, along with Providence Equity, are stakeholders in Hulu. So, for …
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By M.H. Williams In an unsurprising move, Rockstar Games is reportedly well underway in developingGrand Theft Auto V, the next installment in the best-selling series. Anonymous sources have toldGameSpotthat final touches, including minigames, are already being added. The sources calledGTA Vthe big one and said that a 2012 release is pretty likely. This squares up withwhat most analysts have been sayingabout a newGTAnow for months. Please follow SAI: Silicon Alley Insider on Twitter and Facebook.Join the conversation about this story
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You would think Microsoft’s Skydrive cloud storage service would work great with Microsoft’s Office documents, but the lack of coordination between the two product groups makes for some frustrating experiences. Now, Google thinks it can do better. Earlier this year, Google introduced a plug-in for Office 2003 and later that lets you sync documents from Office apps to Google Docs without ever having to open a browser. It’s called Google Cloud Connect. Today, the company announced an update: you can …
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If Apple wants to claim more smartphone marketshare it has to introduce a “mini-iPhone” says Oppenheimer analyst Ittai Kidron in a note this morning. Kidron calls the mini-iPhone “critical” for Apple and says, “Simply put, $600 iPhone* expansion opportunities are good, but the opportunities are much greater with a complementary mini-iPhone ~$300. We believe this price-point can be met, allowing Apple to attack the midrange and extend its emerging/prepaid market reach.” In the same note Kidron says the decline of …
Schools out. And howd we do? Not great. Last week, the Department of Education released the results of its latest National Assessment of Educational Progress (NAEP)the so-called Nations Report Card. This round was an evaluation of students knowledge and understanding of American history, in the fourth, eighth, and twelfth grades. The findings, like history itself, were open to interpretation, but basically the kids of today got a grade of Kids Today. They apparently dont know what theyre supposed to know. …
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Schools out. And howd we do? Not great. Last week, the Department of Education released the results of its latest National Assessment of Educational Progress (NAEP)the so-called Nations Report Card. This round was an evaluation of students knowledge and understanding of American history, in the fourth, eighth, and twelfth grades. The findings, like history itself, were open to interpretation, but basically the kids of today got a grade of Kids Today. They apparently dont know what theyre supposed to know. …
Continue reading about Kids Aren’t Getting Smarter, But They Aren’t Getting Stupider Either
A few cracks are starting to show in Apple’s iCloud. MacRumors says that if you use all your cloud storage space, you’ll actually stop getting email. This isn’t to say that you’ll receive the emails once you clear up space — the emails will actually be returned to sender and you’ll never know they were sent. On top of that, when you’re out of storage space your iOS devices will no longer back up. When users are nearly out of …
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A few cracks are starting to show in Apple’s iCloud. MacRumors says that if you use all your cloud storage space, you’ll actually stop getting email. This isn’t to say that you’ll receive the emails once you clear up space — the emails will actually be returned to sender and you’ll never know they were sent. On top of that, when you’re out of storage space your iOS devices will no longer back up. When users are nearly out of …
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Jonathan Egol, a managing director at Goldman Sachs, and one of the Goldman employees involved in the recent lawsuit, just bought a beautiful apartment on the Upper East Side for $3.72 million, according to Bloomberg. The apartment, on 94th and Madison, was originally listed for $4.25 million in October, and then dropped its price to $3.65 million in February. We guess Egol and his wife really like the place, since they’re paying more than the listing price. The doorman building …
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Jonathan Egol, a managing director at Goldman Sachs, and one of the Goldman employees involved in the recent lawsuit, just bought a beautiful apartment on the Upper East Side for $3.72 million, according to Bloomberg. The apartment, on 94th and Madison, was originally listed for $4.25 million in October, and then dropped its price to $3.65 million in February. We guess Egol and his wife really like the place, since they’re paying more than the listing price. The doorman building …
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On July 7th, the nation’s largest carrier Verizon Wireless is going to convert its current mobile data plan offering to tiered data plans, reports DroidLife. The new data plans will be priced based on how much data you use on your smartphone or tablet. Fortunately for most people, the new plans aren’t going to make much of a difference. Verizon’s current $30.00/month unlimited data plan is being converted into a $30.00/month 2GB data plan, but the great majority of people …
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This is the most recent installment of the Chinese bull/bear debate from Morgan Stanley. Always good for a quick refresh. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Chinese President Says The Recovery Is Slow And FragileNEW SATELLITE PICTURES OF CHINA’S GHOST CITIESTwo More Chinese Companies Come Under Fire From SEC Over Alleged Fraud
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This is the most recent installment of the Chinese bull/bear debate from Morgan Stanley. Always good for a quick refresh. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Chinese President Says The Recovery Is Slow And FragileNEW SATELLITE PICTURES OF CHINA’S GHOST CITIESTwo More Chinese Companies Come Under Fire From SEC Over Alleged Fraud
Continue reading about The Entire Chinese Economic Debate In One Huge Slide
A cure for cancer was once a pipe dream, but a working vaccine for humans may finally be on the horizon. A human vaccine has successfully been used to cure prostate cancer in mice, according to a report published in the journal Nature Medicine (via Science Daily). Researchers from the Mayo Clinic and the UK assembled DNA libraries which included some healthy prostate DNA, put them in virus shells and injected them into the mice. It cured the mice of …
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The smart money is betting that the George Papandreou will survive its confidence vote (due to take place at 5PM ET today). And so everything s rallying. You name it, it’s up. Germany +1%.Athens +1.2%Spain +1.6%. The euro, silver, crude, and just about every other commodity is up. Risk on. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Here’s What Merkozy Said This Morning That’s Got Everyone So ExcitedGreek Finance Minister: The Austerity Plan …
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The smart money is betting that the George Papandreou will survive its confidence vote (due to take place at 5PM ET today). And so everything s rallying. You name it, it’s up. Germany +1%.Athens +1.2%Spain +1.6%. The euro, silver, crude, and just about every other commodity is up. Risk on. Please follow Money Game on Twitter and Facebook.Join the conversation about this story See Also:Here’s What Merkozy Said This Morning That’s Got Everyone So ExcitedGreek Finance Minister: The Austerity Plan …
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This is a letter Sean Connery wrote didn’t write in response to Steve Jobs after being asked to appear in an Apple ad. It’s pretty funny. Honestly, we’re not sure it’s legit. The “007″ at the bottom-right corner and the “I am fucking JAMES BOND” seem a bit rich. But it’s still hilarious. And it’s refreshing to see someone respond to Steve Jobs with something other than fawning, drooling admiration. Update: Yep, it’s fake. It comes from Scoopertino, The-Onion-for-Apple-news. Thanks …
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Forex Pros – Asian stock markets were broadly higher on Tuesday, as concerns over a possible Greek default eased, while Japanese automakers gained after Citigroup upgraded the sector.br /br /During late Asian trade, Hong Kong’s Hang Seng Index rose 0.9%, South Korea’s Kospi Composite jumped 1.4%, while Japanrsquo;s Nikkei 225 Index advanced 1.13%. br /br /Klaus Regling, head of the European Financial Stability Facility said on Monday that euro zone finance ministers agreed to boost the effective lending capacity of …
Continue reading about Asia stocks broadly higher on Greece hopes; Nikkei up 1.1%
“Reducing afterlife payment to 71 virgins.” Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:Bill O’Reilly Defends Obama From Lupe Fiasco’s Terrorist AccusationHARDBALL: Jon Stewart Was Holier-Than-Thou In His Fox News Sunday InterviewSHEP SMITH Blows Top Over Casey Anthony Trial: ‘What More Do You Need To Know Here If You’re A Juror!?’
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BOSTON (AP) Adrian Gonzalez drove in three runs with a single and double in a 10-run seventh inning against his former team and the hot-hitting Boston Red Sox rolled to a 14-5 win over the struggling San Diego Padres on Monday night. Gonzalez boosted his major league-leading RBI total to 67 since the Padres, unable to give him a lucrative contract, traded him to the Red Sox in the offseason for three top prospects. He went 3 for 5 to …
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The idea seems patently absurd given that the country is dependent on outdated coal power and Russian gas imports to meet its domestic energy needs. But in a field outside the northern Polish village of Lebien, 90 kilometers west of Gdansk, it’s an idea people are taking very seriously. At first glance, it doesn’t look like much: a fenced-in area, a rig, a small construction team. But what matters is what is located 3 kilometers underground — large deposits of …
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Thomas apparently voted in favor of the man who gave $500,000 to his wife’s Tea Party group. Visit msnbc.com for breaking news, world news, and news about the economy Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:HARDBALL: Jon Stewart Was Holier-Than-Thou In His Fox News Sunday InterviewBill O’Reilly Defends Obama From Lupe Fiasco’s Terrorist AccusationSHEP SMITH Blows Top Over Casey Anthony Trial: ‘What More Do You Need To Know Here If You’re A …
Continue reading about MADDOW: The New York Times Is Accusing Clarence Thomas Of Accepting Bribes!
At this point, anyone who thinks that there won’t be any consequences to a debt ceiling failure are insane, if only due to the regulatory/ratings hit. FITCH is the latest to warn that if America doesn’t raise its debt ceiling by August 2 — the date Geithner has called a drop dead — then the US would be put on ratings watch negative. This wouldn’t be a downgrade straight up, but it would be a precursor to one. Presumably if …
Continue reading about FITCH WARNS: US Must Raise The Debt Ceiling By Aug 2, Or Risk Losing Its AAA
The 2001 correlation to the silver panic of 1893 There is an irony to a solar eclipse that occurred at 0 degree Capricorn (government, regulations, commerce) in 1889 that led to the silver panic of 1893 where the rip cord was pulled on the stock market and people made a run on the banks to exchange their silver notes for gold. The event plunged the nation into a severe depression. The irony is an eclipse exactly opposite in 2001 at …
The nation is losing its independence through the malfeasance of one political party and the timidity of another. Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:JON STEWART On FOX News Sunday: ‘Being A Comedian Is Harder Than What You Do’Rachel Maddow Destroys The Myth About Texas Having A Great EconomyJon Stewart On FOX News Sunday: ‘In Every Poll FOX Viewers Are The Most Consistently Misinformed’
The British do not appear hopeful about Greece and the euro. From The Telegraph: Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro cannot last. … In an emergency debate, senior MPs from all parties demanded that Britain stand aside from a new rescue package for Greece and push for the country to leave the euro. Perhaps it’s the bit of distance …
Continue reading about The British Are Now Preparing For Greece To Go Bust, And The End Of The Euro
“President Obama is not a terrorist, he’s trying to do what he believes is the right thing to do.” Please follow The Wire on Twitter and Facebook.Join the conversation about this story See Also:O’Reilly Goes After Van Jones… For His Grammar?JON STEWART On FOX News Sunday: ‘Being A Comedian Is Harder Than What You Do’SHEP SMITH Blows Top Over Casey Anthony Trial: ‘What More Do You Need To Know Here If You’re A Juror!?’
Continue reading about Bill O’Reilly Defends Obama From Lupe Fiasco’s "Terrorist" Accusation
Microsoft’s online file storage service, Windows Live SkyDrive, has been a teeth-gnashing flail ever since its introduction. It looks like a bunch of file folders sitting on a hard drive — but you couldn’t drag and drop files and folders into one another or right click them to copy and paste or do any of the other things you’ve been able to do in the Windows file system for more than a decade. There’s some kind of tie into Office …
Central Falls – a tiny, cash-strapped Rhode Island town – is teetering closer towards bankruptcy in the wake of another credit downgrade. The Providence Journal reports that Moody’s Investor’s Service has downgraded Central Falls’ $20.8 million of debt to Caa1, citing growing fiscal problems that have heightened the risk of default. The downgrade pushes the city’s bond rating deeper into junk bond status. Central Falls expects to pay off $1.5 million of debt due June 30, the agency said in …
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