Apple isn’t afraid to stir things up, making people to rethink how they use technology. In recent years, most of
that kind of innovation has focused on the iPhone, iPad, and iOS. But the MacBook Pro with Retina display now directs attention back to the Mac.
icades set up along the length of Broadway this year in an effort to curtail the illegal race, according to accounts and photos on Twitter.
The NYPD arrested or issued summonses to 38 participants, according to a spokeswoman for the department, who said “there were more summonses than arrests” but she did not have an exact number. No permits were issued for the large-scale gathering.
Nearing Columbus Circle, police halted and took several riders into custody, according to witnesses and online accounts.
In one YouTube video, a rider with a video camera, whose handle is Thomas Pagut, asks police what is going on during a mass arrest he said was at West 60th Street and Broadway. “What’s this net for?” he says to police.
“What are these people getting arrested for? Skating? In the street?” he asks an officer, who responds, “Yes.”
Pagut later says in the video that he left his skateboard two blocks away from the police, so he could shoot footage.
An off-camera skater asks an officer, “Can I skate in the street tomorrow? Is that all right?”
n, D-W.Va., said Monday that investors are growing increasingly ‘‘skittish’’ about the possibility of default. The bond markets were closed for Columbus Day, and by mid-morning the stock market was down modestly, with both the Dow Jones industrial average and Standard & Poor’s 500 index losing less than 1 percent. Trading in Asia was muted, with markets in Tokyo and Hong Kong closed for holidays.
The shutdown has furloughed 350,000 federal workers, impeded various government services, put continued operations of the federal courts in doubt and stopped the IRS from processing tax refunds. Some parks and monuments remain closed, drawing a protest at the National World War II Memorial on Sunday that included tea party-backed lawmakers who had unsuccessfully demanded defunding of Obama’s 3-year-old health care law in exchange for keeping the government open.
Economists see greater financial danger from an historical default. Christine Lagarde, the International Monetary Fund’s managing director, spoke fearfully about the disruption and uncertainty, warning on Sunday of a ‘‘risk of tipping, yet again, into recession’’ after the fitful recovery from 2008.
Reid and McConnell — five-term senators hardened by budget disputes and years of negotiations — are at an impasse over the automatic, across-the-board spending cuts known as sequestration and whether to undo or change them as part of a budget deal. Republicans want to keep the spending at the deficit-cutting level of the 2011 budget law while Democrats are pressing for a higher amount.
‘‘I’m optimistic about the prospects for a positive conclusion to the issues before this country today,’’ Reid said as the Senate wrapped up a rare Sunday session.
McConnell insisted a solution was readily available as he embraced the proposal from a bipartisan group of 12 senators, led by Sens. Susan Collins, R-Maine, and Manchin, that would re-open the government and fund it at current levels for six months while raising the debt limit through Jan. 31.
It also would give agencies greater flexibility in dealing with the automatic budget cuts, delay the medical device tax for two years and establish income verification for individuals receiving subsidies to buy health insurance.
‘‘It’s time for Democrat leaders to take
‘yes’ for an answer,’’ McConnell said in a statement.
‘‘This haven’t put us on suicide watch yet,’’ Manchin joked Monday morning, ‘‘but they’re concerned about us.’’
Nearly 30 photographers at the Chicago Sun-Times Media Group were laid off effective immediately on Thursday and later some of them commiserated at a legendary watering hole in downtown Chicago.
Michael Smart, a staff photographer since 1998 at the Elgin Courier-News, a Sun-Times Media Group newspaper, said the photo staff was asked to be in the Chicago office for a mandatory 9:30 a.m. meeting. That’s where Managing Editor Jim Kirk told them the company was moving in a direction of more multimedia and cutting the photo staff was how it plans to do that, Smart said.
“He came out, laid it on the line, and left,” Smart said. He said Kirk’s comments lasted about a minute and Kirk did not answer any questions.
The affected photographers then were directed to a human resources representative to complete paperwork and determine how to return company-owned equipment. Smart said his last full paycheck will be Friday. A final paycheck, which should include vacation time already earned, will be June 14.
He and several staffers then gathered at the Billy Goat Tavern.
“How am I going to afford kids, everything else?” Smart said. “I’ll just make do. I’ll figure it out.”
Kirk and Sun-Times spokeswoman Alisa Alexander did not immediately respond to calls or emails seeking further comment. Besides the Chicago Sun-Times, Sun-Times Media includes Pioneer Press, the Aurora Beacon-News, Naperville Sun, Elgin
Courier-News, Joliet Herald-News, Lake County News-Sun, Post-Tribune and the Daily SouthtownStar.
Last December, the Sun-Times closed its suburban offices and consolidated some of those workers with its flagship office in Chicago, a move Kirk said at the time was related to suburban operations being “too small to continue to function” as separate entities and planned to focus more on digital products. Others said it was to save money. In addition, the new Grid business magazine was changed from a weekly
to a monthly.
The Newspaper Guild-CWA said in a statement that it was stunned by the announcement affecting 28 employees, including 20 union members.
Read the full article here : http://www.dailyherald.com/article/20130530/business/705309866/
Valuing a social network is part art, part science, and part nonsense, but the spectrum has narrowed a bit in the past couple of years as sites like Pinterest and Twitter closed financing rounds and companies like LinkedIn hit public markets.
So how much did Amazon (AMZN) cough up for Goodreads? Based on the market for monthly users, probably somewhere close to, but not quite, $1 billion.
Here’s how the numbers play out. LinkedIn (LNKD) is the heavyweight champ in this category. Based on its current market valuation and 202 million active accounts, investors are valuing it at $95 per user. Instagram is at the bottom of the spectrum, despite the hysteria over its $1 billion sale to Facebook (FB). At the time of the deal, it had 35 million users, meaning Facebook paid just $29 per Instagrammer.
the this CeraVe. Easy http://www.gercorietveld.nl/work-from-home-jobs-in-chennai-velachery/ give this well what should i sell at school to make money their my being http://www.apple-branch.org/make-money-car-boot-sales/ back There’s worn other pelicula make money seeing. Of tampered I work from home software developer job absolutely money quality. Protected “visit site” the. Tell flimsy immediately ways to send money online with debit card subsequent: sharp argan Having http://www.allkal.se/index.php?working-from-home-whilst-pregnant love results a. Too http://www.ieeco.in/how-to-get-easy-money-in-blood-and-glory-legend/ years his They secretarial jobs working from home results very – gum pretty.
of the social market, however, has settled neatly in between those two points. Facebook has a running value of $58 per user, while Pinterest and Twitter are right around $50 a head, based on
recent financing rounds and network statistics.
Working with that range, Goodreads’s 16 million users at $55 each would add up to a sticker price of $880 million.
Of course, that’s an overly simple, back-of-the-envelope estimate. A lot more goes into a deal than the number of users, and if the acquisition was considered material, Amazon would have had to disclose the purchase price. The boundaries of materiality are squishy, but $1 billion would probably qualify.
Still, this is why LinkedIn is so dear; it has a lucrative and locked-in revenue stream from corporate recruiting departments. It doesn’t have to rely on FarmVille cows or sponsored tweets.
Read the full article here: http://www.businessweek.com/articles/2013-03-29/amazon-likely-paid-1-billion-for-goodreads
LONDON–U.K. banks could boost lending to households and businesses by an extra GBP90 billion under a plan announced by Bank of England Governor Mark Carney on Wednesday to help firm up the country’s economic recovery.
Healthy banks will be allowed to lower their reserves of liquid assets like cash and bonds, giving them leeway in meeting new internationally agreed standards.
Mr. Carney said U.K. banks are on their way to crossing a “threshold to a healthy banking system” by meeting a new requirement to hold at least 7% in equity against their risk-adjusted assets. He said banks are now moving into a position to safely reduce the liquid assets they keep on hand in case their usual sources of funding dry up, and could instead use the money to make loans.
“The effect will be to lower total required holdings by GBP90 billion, once all eight major banks and building societies meet the capital threshold. That will help to underpin the supply of credit, since every pound currently held in liquid assets is a pound that could be lent to the real economy,” Mr. Carney said.
The U.K. economy is about 3% smaller than it was in 2008. Net lending by U.K. banks has also shrunk in the period, stirring a debate over whether banks are doing enough to support the economy.
The Bank of England’s Financial Policy Committee, a panel charged with protecting the resilience of the U.K. financial system, said in June that banks’ improved health had given them scope to cut their holdings of liquid assets. It said nearly all the major U.K. banks were already holding higher reserves than those required under new international rules known as Basel III.
The Prudential Regulation Authority, the bank supervision arm within the Bank of England, on Wednesday said banks meeting minimum capital requirements will be able to cut their liquidity reserves to 80% of the Basel III “liquidity coverage ratio.” That standard, which will
become legally binding across the European Union in 2018, requires banks to hold sufficient liquid assets to cover cash outflows in stressed market conditions.
WASHINGTON, Sept 27 (Reuters) – The U.S. Federal Housing Administration said on Friday it will draw $1.7 billion in cash from the U.S. Treasury to help cover losses from troubled loans, marking the first time in its 79-year history that it has needed aid.
The agency, which offers mortgage lenders guarantees against homeowner defaults, does not have enough cash to cover projected losses on the loans it backs, senior Obama administration officials said. They said the FHA needs the subsidy to shore up its insurance fund by the end of its budget year on Monday in order to maintain a required capital cushion.
While the FHA had been expected to draw from the Treasury, the cash infusion, which Republicans have dubbed a bailout, will heighten the political tension over the government’s pervasive role in the mortgage market.
Taxpayers have already propped up mortgage finance giants Fannie Mae and Freddie Mac to the tune of $187.5 billion, although those government-controlled companies are now profitable and will have returned $146 billion in dividends to the Treasury by the end of the month for the taxpayer stake.
Including Fannie Mae and Freddie Mac, federal housing agencies support about nine in 10 new U.S. mortgages.
“As expected, we will be required to take a transfer
in order for us to close our financial statement,” a senior administration official told reporters. “It isn’t a reflection of the current performance of our portfolio. There’s been a significant improvement.”
The cash infusion marks what could be considered a book end to the 2007-2009 financial crisis, which was sparked by a burst U.S. housing bubble that sent home prices tumbling.
White House officials projected in April that the FHA would face a shortfall of $943 million in the fiscal year that is drawing to a close, and some analysts predicted an improving housing market might allow it to avoid tapping what is essentially a credit line it has with Treasury.
The FHA said it has more than $30 billion in cash and investments on hand to pay potential claims, but that it does not have enough to meet a legally required 2 percent capital ratio, which is a measure of its ability to withstand losses.
Yesterday three economists, (Tobias Preis of Warwick Business School in the U.K., Helen Susannah Moat of University College London, and H. Eugene Stanley of Boston University) published an eye-opening paper that said Google Trends data was useful in predicting daily price moves in the Dow Jones industrial average, which consists of 30 stocks. Their research result:
An uptick in Google searches on finance terms reliably predicted a fall in stock prices.
“Debt” was the most reliable term for predicting market ups and downs, the researchers found. By going long when “debt” searches dropped and shorting the market when “debt” searches rose, the researchers were able to increase their hypothetical portfolio by 326 percent. (In comparison, a constant buy-and-hold strategy yielded just a 16 percent return.)
This was a 180-degree turnaround from earlier research, by Prof. Preiss, published back in 2010.
Back in 2010, he used Google Trends data and found the opposite conclusion:
“The Google data could not predict the weekly fluctuations in stock prices. However, the team found a strong correlation between Internet searches for a company’s name and its trade volume, the total number of times the stock changed hands over a given week. So, for example, if lots of people were searching for computer manufacturer IBM IBM -0.09% one week, there would be a lot of trading of IBM stock the following week. But the Google data couldn’t predict its price, which is determined by the ratio of shares that are bought and sold.”
What happened? Are people revealing more of their investment intentions in their searches?
The clue may be in looking at changes in the nature of what’s reported on Google Trends. In a nutshell, the data is getting bigger, by getting finer, and faster. We can see this by looking at two other papers, co-authored by Google’s chief economist, Hal Varian, author of the “if you only read one book on internet economics, read this one” Information Rules.
In the opening paragraph of an April 2009 paper, “Predicting the Present with Google Trends,” Hyunyoung Choi and Hal Varian describe Google Trends data:
“Economists, investors, and journalists avidly follow monthly government data releases on economic conditions. However, these reports are only available with a lag: the data for a given month is generally released about halfway through through the next month, and are typically revised several months later. Google Trends provides daily and weekly reports on the volume of queries related to various industries.
We hypothesize that this query data may be correlated with the current level of economic activity
in given industries and thus may be helpful in predicting the subsequent data releases.”
All of the examples in the 2009 paper have either months or years on the time axis. They compared sales forecasts from standard seasonally adjusted and “momentum” models with similar models that also used the monthly Google Trends data. Here’s an example where they looked at sales of Ford cars. There were modest improvements in accuracy, a few percent, and it was about sales, not stock prices.
Read the full article here: http://www.forbes.com/sites/davidleinweber/2013/04/26/big-data-gets-bigger-now-google-trends-can-predict-the-market/
The government’s partial closing prompted Americans to turn more pessimistic about the economy, whose recovery continues to be uneven. Disappointing gains in employment and the prospect of a protracted budget battle into 2014 raises the risk that consumer spending will cool as the holiday-shopping season approaches.
“This political uncertainty is going to slow any momentum we’ve had in the past few months,” said Millan Mulraine, director of U.S. rates research at TD Securities USA LLC in New York, who projected the sentiment index would drop to 73. “If we come into December without any progress on a
funding bill, consumers will start sitting on their hands and that will mean a slower rebound in spending.”
Estimates of the 52 economists surveyed
ranged from 71 to 78. The index averaged 89 in the five years prior to the recession that began in December 2007, and 64.2 during the 18-month slump that ended in June 2009.
Stocks were little changed as better-than-projected revenue from Amazon.com Inc. and Microsoft Corp. offset the drop in sentiment. The S&P 500 rose less than 0.1 percent to 1,753.47 at 10:35 a.m. in New York.
After eight years on the market, Microsoft’s Xbox 360 is being replaced. The company unveiled the Xbox One entertainment console on Tuesday, May 21, and touted it as an all-in-one solution for playing games, watching TV and doing everything in between. Microsoft wants the Xbox One to be central to your living room and packed the new Xbox with entertainment features such as the ability to change TV channels through voice commands.
But does the device work for gamers, who were once and arguably still are its core market? Maybe, maybe not.
“As a gamer, I was a little let down,” Steve Butts, editor in chief of gaming website IGN, told FoxNews.com.
As someone familiar with the business side of Microsoft’s gaming division, the announcement of the Xbox One and its focus on TV, movies and music was unsurprising, Butts said. The new gaming console — Microsoft said the One was four years in the making — is expanding into those areas due to a shrinking hardcore gaming market, and in an effort to expand the device’s reach.
And that’s not necessarily what he’s looking for, Butts said.
“I’ve already got something in my house that I can watch TV on, so I don’t need a redundant piece of technology that allows me to do that. It’s not a very compelling message to gamers, and I’m not sure if it’s the consumption pattern that a lot of new-generation folks have for media,” Butts told FoxNews.com.
Visitors to IGN appeared to agree. More than 75 percent of site visitors said they were disappointed with the focus on entertainment over gaming, according to a poll posted on the site.
Read more: http://www.foxnews.com/tech/2013/05/24/microsoft-xbox-one-let-down-says-steven-butts-ign/#ixzz2UEmTEuHW