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The “Black Monday” market crash 30 years ago today was so bad hospital admissions spiked - Quartz

Business News - 17 hours 16 min ago


The “Black Monday” market crash 30 years ago today was so bad hospital admissions spiked
Precisely 30 years ago today, on Oct. 19, 1987, stock markets around the world suffered one of their worst days ever, in what became known as Black Monday. After a long-running rally, the crash began in Asia, picked up steam in London and ultimately ...
30 years since Dow's Black Monday: The lethal cocktail of events that caused the crashMoneycontrol.com
30 years on: The Black Monday crashThe Sydney Morning Herald
30th Anniversary of Black Monday: Is a Resurgence Possible?Wall Street Daily
City A.M. -Hong Kong Standard (press release) -Nasdaq -Marketplace.org
all 31 news articles »

Dodging Russian Spies, Customers Are Ripping Out Kaspersky

Slashdot - 18 hours 35 min ago
From a report: Multiple U.S. security consultants and other industry sources tell The Daily Beast customers are dropping their use of Kaspersky software all together, particularly in the financial sector, likely concerned that Russian spies can rummage through their files. Some security companies are being told to only provide U.S. products. And former Kaspersky employees describe the firm as reeling, with department closures and anticipation that researchers will jump ship soon. "We are under great pressure to only use American products no matter the technical or performance consequences," said a source in a cybersecurity firm which uses Kaspersky's anti-virus engine in its own services. The Daily Beast granted anonymity to some of the industry sources to discuss internal deliberations, as well as the former Kaspersky employees to talk candidly about recent events.

Read more of this story at Slashdot.

China stocks extend declines as growth slows; Nikkei aims at two-decade high - MarketWatch

Business News - 19 hours 31 min ago


China stocks extend declines as growth slows; Nikkei aims at two-decade high
Chinese equities extended their declines after the nation reported slower growth in the third quarter, with markets there underperforming compared with broad gains across the Asia-Pacific region. Data released Thursday showed China's economic expansion ...
Asian shares trade mixed after China GDP meets expectationsCNBC
Asian Shares Mixed As Chinese Growth SlowsNasdaq
China third quarter growth meets expectations at 6.8%BBC News
Seeking Alpha -Irish Times -Economic Times -ABC Online
all 86 news articles »

Bankers Publicly Embracing Robots Are Privately Fearing Job Cuts

Slashdot - Wed, 10/18/2017 - 19:30
An anonymous reader quotes a report from Bloomberg: Within the upper echelons of many financial firms, there's a lot of soul searching as executives prepare to roll out a new generation of technology. Publicly, they're upbeat, predicting machines will perform almost all repetitive tasks, freeing humans to focus on more valuable pursuits. Privately, many confide to peers, consultants and sometimes journalists that they're worried about what will happen to their staffs -- and what to tell them. There's also uncertainty. Maybe it's all overblown, executives say, because the tech will be hard to implement and humans will find new roles. Or perhaps it's the beginning of the end for legions of professionals in one of the world's most lucrative fields. Can jobs held by office-dwelling millionaires disappear like those on factory floors? The result, is that employees aren't getting a clear message on what's to come. For a rosy scenario, look to McKinsey & Co. In July, the consulting firm published a report estimating machines are ready to assume roughly a third of the work now performed by banks' rank and file. The authors framed it as positive: People will have more time to tend to clients, conduct research or brainstorm ideas. So far, it noted, firms at the forefront aren't slashing jobs. At JPMorgan Chase & Co., one of the most tech-savvy banks, Chief Executive Officer Jamie Dimon predicted in June that his workforce will more likely grow than shrink over the next 20 years. Technology may displace workers, he's said, but it also creates opportunities. Yet in interviews, about a dozen Wall Street executives and consultants responsible for deploying technologies -- and steeped in their capabilities -- were more bearish on humans. Machines will take over task after task, they said, and banks simply won't need nearly as many people.

Read more of this story at Slashdot.

Blue Apron Is Laying Off Hundreds of Workers After a Tough Few Months - Fortune

Business News - Wed, 10/18/2017 - 18:42


Blue Apron Is Laying Off Hundreds of Workers After a Tough Few Months
Vegetables from a Blue Apron Holdings Inc. meal-kit delivery are arranged for a photograph in Tiskilwa, Ill. on June 14, 2017. Dan Acker—Bloomberg/Getty Images. It disclosed Wednesday in a regulatory filing that it would layoff 6% of its workforce.
Blue Apron is laying off hundreds of employeesTechCrunch
Blue Apron is laying off hundreds of workersBusiness Insider
Blue Apron Says It Cut 6% of Workforce for 'Future Growth'Bloomberg
GeekWire -CNBC -CNNMoney -Recode
all 38 news articles »

First Floating Wind Farm Delivers Electricity

Slashdot - Wed, 10/18/2017 - 18:05
The world's first floating offshore wind farm began delivering electricity to the Scottish grid today. "The 30MW installation, situated 25km (15.5mi) from Peterhead in Aberdeenshire, Scotland, will demonstrate that offshore wind energy can be harvested in deep waters, miles away from land, where installing giant turbines was once impractical or impossible," reports Ars Technica. "At peak capacity, the wind farm will produce enough electricity to power 20,000 Scottish homes." From the report: The installation, called Hywind Scotland, is also interesting because it was built by Statoil, a Norwegian mega-corporation known for offshore oil drilling. Statoil has pursued offshore wind projects in recent years, using the companyâ(TM)s experience building and managing infrastructure in difficult open sea conditions to its advantage. Hywind Scotland began producing power in September, and today it starts delivering electricity to the Scottish grid. Now, all that's left is for Statoil and its partner company Masdar to install a 1MWh lithium-ion battery, charmingly called âoeBatwind,â on shore. Batwind will help the offshore system regulate power delivery and optimize output. After a number of small demonstration projects, the five 6MW turbines are the first commercial turbines to lack a firm attachment to the seafloor. They're held in place using three giant suction anchors, which are commonly used in offshore oil drilling. Essentially, an enormous, empty, upside-down âoebucketâ is placed on the seafloor, and air is sucked out of the bucket, which forces the bucket downward, further into the seafloor sediment. The report mentions a 2013 video that shows how offshore wind farms work.

Read more of this story at Slashdot.

Amazon E-Book Buyers Receive Payment From Antitrust Lawsuit Settlement

Slashdot - Wed, 10/18/2017 - 17:25
If you bought a Kindle e-book between April 2010 and May 2012, you might see some Amazon credit coming your way. The company is reportedly distributing funds from an antitrust lawsuit that it levied at Apple in 2013. From a report: Amazon has set up a website listing the available credits, and it has begun sending out emails this morning to U.S. customers who are eligible for a refund. Apple and a handful of book publishers, including Penguin, HarperCollins, Machete Book Group and Macmillan, were found guilty of conspiring to inflate the prices of e-books in order to weaken Amazon's grip on the market. While the book publishers settled out of court, Apple decided to fight the lawsuit and appealed several times. Eventually, it was ordered to pay a total of $450 million in the protracted antitrust case. Several refunds have already been distributed because of the lawsuit. In fact, the bulk of credits were sent out in 2014 and 2016. The round of credits being sent out today comes from an earmarked $20 million meant to pay states involved in the suit. The Amazon credits have a six-month shelf life and must be spent by April 20, 2018, or they'll expire. In addition the Amazon credits, customers may also be receiving Apple credits that can be used toward iBooks, iTunes and App Store purchases. Apple is currently notifying eligible customers via email.

Read more of this story at Slashdot.

Flying Insects Have Been Disappearing Over the Past Few Decades, Study Shows

Slashdot - Wed, 10/18/2017 - 16:45
An anonymous reader quotes a report from The Guardian: The abundance of flying insects has plunged by three-quarters over the past 25 years, according to a new study that has shocked scientists. Insects are an integral part of life on Earth as both pollinators and prey for other wildlife and it was known that some species such as butterflies were declining. But the newly revealed scale of the losses to all insects has prompted warnings that the world is "on course for ecological Armageddon," with profound impacts on human society. The new data was gathered in nature reserves across Germany but has implications for all landscapes dominated by agriculture, the researchers said. The cause of the huge decline is as yet unclear, although the destruction of wild areas and widespread use of pesticides are the most likely factors and climate change may play a role. The scientists were able to rule out weather and changes to landscape in the reserves as causes, but data on pesticide levels has not been collected. The research, published in the journal Plos One, is based on the work of dozens of amateur entomologists across Germany who began using strictly standardized ways of collecting insects in 1989.

Read more of this story at Slashdot.

US FDA approves Gilead cancer gene therapy; price set at $373000 - Reuters

Business News - Wed, 10/18/2017 - 16:16

Chicago Tribune

US FDA approves Gilead cancer gene therapy; price set at $373000
(Reuters) - U.S. regulators approved on Wednesday a new therapy for a type of lymphoma, which was developed by Gilead Science Inc's Kite Pharma, marking the second approval for this potentially revolutionary approach to fighting cancer. FILE PHOTO: ...
FDA Blesses 2nd CAR-T Cell Therapy, NVO One Step Away From Approval, AKTX SlumpsNasdaq
FDA Approval Of Gilead CAR-T Therapy Will Move The NeedleSeeking Alpha
These 5 Top Stocks Are Moving Late On News: S&P 500 FuturesInvestor's Business Daily
Business Insider -Wall Street Journal -Quartz -CNBC
all 39 news articles »

Intelligent People More At Risk of Mental Illness, Study Finds

Slashdot - Wed, 10/18/2017 - 16:05
schwit1 shares a report from The Independent: The stereotype of a tortured genius may have a basis in reality after a new study found that people with higher IQs are more at risk of developing mental illness. A team of U.S. researchers surveyed 3,715 members of American Mensa with an IQ higher than 130. An "average IQ score" or "normal IQ score" can be defined as a score between 85 and 115. The team asked the Mensa members to report whether they had been diagnoses with mental illnesses, including autism spectrum disorder (ASD) and attention deficit hyperactivity disorder (ADHD). They were also asked to report mood and anxiety disorders, or whether the suspected they suffered from any mental illnesses that had yet to be diagnosed, as well as physiological diseases, like food allergies and asthma. After comparing this with the statistical national average for each illness they found that those in the Mensa community had considerably higher rates of varying disorders. While 10 per cent of the general population were diagnosed with anxiety disorder, that rose to 20 percent among the Mensa community, according to the study which published in the Science Direct journal.

Read more of this story at Slashdot.

Ask Slashdot: What Are Ways To Get Companies To Actually Focus On Security?

Slashdot - Wed, 10/18/2017 - 15:20
New submitter ctilsie242 writes: Many years ago, it was said that we would have a "cyber 9/11," a security event so drastic that it fundamentally would change how companies and people thought about security. However, this has not happened yet (mainly because the bad guys know that this would get organizations to shut their barn doors, stopping the gravy train.) With the perception that security has no financial returns, coupled with the opinion that "nobody can stop the hackers, so why even bother," what can actually be done to get businesses to have an actual focus on security. The only "security" I see is mainly protection from "jailbreaking," so legal owners of a product can't use or upgrade their devices. True security from other attack vectors are all but ignored. In fact, I have seen some development environments where someone doing anything about security would likely get the developer fired because it took time away from coding features dictated by marketing. I've seen environments where all code ran as root or System just because if the developers gave thought to any permission model at all, they would be tossed, and replaced by other developers who didn't care to "waste" their time on stuff like that. One idea would be something similar to Underwriters Labs, except would grade products, perhaps with expanded standards above the "pass/fail" mark, such as Europe's "Sold Secure," or the "insurance lock" certification (which means that a security device is good enough for insurance companies to insure stuff secured by it.) There are always calls for regulation, but with regulatory capture being at a high point, and previous regulations having few teeth, this may not be a real solution in the U.S. Is our main hope the new data privacy laws being enacted in Europe, China, and Russia, which actually have heavy fines as well as criminal prosecutions (i.e. execs going to jail)? This especially applies to IoT devices where it is in their financial interest to make un-upgradable devices, forcing people to toss their 1.0 lightbulbs and buy 1.0.1 lightbulbs to fix a security issue, as opposed to making them secure in the first place, or having an upgrade mechanism. Is there something that can actually be done about the general disinterest by companies to make secure products, or is this just the way life is now?

Read more of this story at Slashdot.

CNN Gets a First-Of-Its-Kind Waiver To Fly Drones Over Crowds

Slashdot - Wed, 10/18/2017 - 14:40
The FAA has granted CNN a waiver that allows it to fly its Vantage Robotics Snap drone over open-air crowds of people at altitudes of up to 150 feet. "This is a new precedent in this kind of waiver: Previous exemptions allowed flight of drones over people in closed set operations (like for filmmaking purposes) and only when tethered, with a max height of 21 feet," reports TechCrunch. From the report: The new waiver granted to CNN, as secured through its legal counsel Hogan Lovells, allows for flight of the Vantage UAV (which is quite small and light) above crowds regardless of population density. It was a big win for the firm and the company because it represents a change in perspective on the issue for the FAA, which previously viewed all requests for exceptions from a "worst-case scenario" point of view. Now, however, the FAA has accepted CNN's "reasonableness Approach," which takes into account not just the potential results of a crashed drone, but also the safe operating history of the company doing the flying, their built-in safety procedures, and the features included on the drone model itself that are designed to mitigate the results of any negative issues.

Read more of this story at Slashdot.

In Amazon Bid, New York Brags About, Well, Everything - New York Times

Business News - Wed, 10/18/2017 - 14:36

New York Times

In Amazon Bid, New York Brags About, Well, Everything
New York Times
Manhattan's West Side is one of the neighborhoods that New York City is pushing as a possible location for Amazon's second headquarters. Credit Edward Caruso for The New York Times. The Empire State Building, 4 Times Square, 1 World Trade Center ...
This Is What Really Happens When Amazon Comes to Your TownPolitico
On Amazon and the Tech MonopoliesNational Review
Amazon HQ2: Mayors from 7 major North American cities give us their pitches as RFP deadline loomsGeekWire
Los Angeles Times -Seattle Times -Chicago Tribune -TIME
all 295 news articles »

Microsoft Teases Multi-Day Battery Life For Upcoming ARM-Powered Windows Devices

Slashdot - Wed, 10/18/2017 - 14:00
An anonymous reader quotes a report from TechSpot: Microsoft late last year announced a partnership with Qualcomm to bring the full Windows 10 experience to ARM-powered devices. Terry Myerson, Executive Vice President of Microsoft's Windows and Devices Group, promised at the time that Snapdragon-powered Windows 10 devices would be efficient in the power consumption department. We're still waiting for the partnership to bear fruit but in the interim, new details regarding efficiency (and a few other subjects) have emerged. With regard to battery life, Pete Bernard, Principal Group Program Manager for Connectivity Partners at Microsoft, said that to be frank, battery life at this point is beyond their expectations: ""We set a high bar for [our developers], and we're now beyond that. It's the kind of battery life where I use it on a daily basis. I don't take my charger with me. I may charge it every couple of days or so. It's that kind of battery life."

Read more of this story at Slashdot.

Former GE CEO Jeff Immelt used to have an empty private jet fly next to his — just in case there were delays - Business Insider

Business News - Wed, 10/18/2017 - 13:56

Business Insider

Former GE CEO Jeff Immelt used to have an empty private jet fly next to his — just in case there were delays
Business Insider
The former GE CEO used to have an empty private plane follow his own on trips, the Wall Street Journal's Thomas Gryta and Joann S. Lublin report in a story about the new CEO's cost cutting efforts. The extra jet was meant as a spare in case the primary ...
Former GE CEO Immelt reportedly used two corporate jets on some tripsCNBC
GE's New Chief Makes Cuts, Starting With Old FavoritesWall Street Journal

all 5 news articles »

SeaWorld Cuts 350 Positions, Plans to Boost Marketing Spending - Bloomberg

Business News - Wed, 10/18/2017 - 13:33


SeaWorld Cuts 350 Positions, Plans to Boost Marketing Spending
SeaWorld Entertainment Inc. is eliminating 350 jobs and taking a $5.1 million charge as the theme-park operator continues to battle sluggish attendance. The layoffs will be completed by the close of the fourth quarter, the Orlando, Florida-based ...
SeaWorld is laying off 350 workers as attendance wanesCNNMoney
SeaWorld cuts about 350 jobs as it aims to boost attendanceCNBC
Sea World, fallen on hard times since “Blackfish,” will lay off 350 employeesQuartz
Orlando Sentinel -fox5sandiego.com -KTLA
all 9 news articles »

Tesla Faces Lawsuit For Racial Harassment In Its Factories

Slashdot - Wed, 10/18/2017 - 13:20
Three former Tesla factory workers have filed a lawsuit against the company, claiming they were subject to constant racial discrimination and harassment in the electric car company's factories. "The men, who are African-American, claim in a new complaint filed Monday in state court that Tesla supervisors and workers used racial epithets and drew racist graffiti on cardboard boxes," reports The Mercury News. From the report: The new suit is the second by black employees charging Tesla failed to address racial antagonism at its factory. The electric vehicle maker also has a hearing before the National Labor Relations Board over claims it illegally tried to silence workers promoting a union. The complaints come as the Tesla heads into a crucial ramp-up of Model 3 production, its lower-cost electric vehicle. A Tesla spokesman denied the suit's allegations and said the men never raised the complaints to the company during their brief time at the plant. "Given our size, we recognize that unfortunately at times there will be cases of harassment or discrimination in corners of the company," the spokesman said. "From what we know so far, this does not seem to be such a case." The suit, filed in Alameda County Superior Court, claims Owen Diaz and his son, Demetric, were called the N-word while they worked at the Fremont factory, and supervisors did little to stop it. A third man, Lamar Patterson, also claims he was subjected to insensitive racist remarks.

Read more of this story at Slashdot.

eBay is having a pretty bad day - TechCrunch

Business News - Wed, 10/18/2017 - 13:02


eBay is having a pretty bad day
eBay is not having a great afternoon after posting a pretty ho-hum third quarter that fit roughly in line with analyst estimates, but perhaps not seeing the kinds of leaps that Wall Street is looking for heading into the fourth quarter. The company ...
EBay Projects Holiday Profit That Falls Short of ExpectationBloomberg
eBay, Inc.'s Light Earnings Guidance Overshadows a Strong QuarterMotley Fool
eBay's Q3 narrowly beats expectationsZDNet
Wall Street Journal -TheStreet.com -Seeking Alpha -Investor's Business Daily
all 37 news articles »

AmEx CEO Chenault to Exit, Succeeded by Vice Chairman Squeri - Bloomberg

Business News - Wed, 10/18/2017 - 12:48


AmEx CEO Chenault to Exit, Succeeded by Vice Chairman Squeri
American Express Co. Chief Executive Officer Kenneth Chenault is stepping down after 16 years running the credit-card lender and will be replaced by Steve Squeri. Chenault, 66, will stay on until Feb. 1, the New York-based firm said Wednesday in a ...
American Express CEO Kenneth Chenault to Retire Next YearU.S. News & World Report
The Retirement of Amex's Ken Chenault Means Just 3 CEOs on the Fortune 500 Are BlackFortune
American Express CEO Ken Chenault to Step DownNew York Times
CNNMoney -Business Insider -Wall Street Journal -CNBC
all 95 news articles »

Activision Patents Pay-To-Win Matchmaker

Slashdot - Wed, 10/18/2017 - 12:40
New submitter EndlessNameless writes: If you like fair play, you might not like future Activision games. They will cross the line to encourage microtransactions, specifically matching players to both encourage and reward purchase. Rewarding the purchase, in particular, is an explicit and egregious elimination of any claim to fair play. "For example, if the player purchased a particular weapon, the microtransaction engine may match the player in a gameplay session in which the particular weapon is highly effective, giving the player an impression that the particular weapon was a good purchase," according to the patent. "This may encourage the player to make future purchases to achieve similar gameplay results." Even though the patent's examples are all for a first-person-shooter game, the system could be used across a wide variety of titles. "This was an exploratory patent filed in 2015 by an R&D team working independently from our game studios," an Activision spokesperson tells Rolling Stone. "It has not been implemented in-game." Bungie also confirmed that the technology isn't being used in games currently on the market, mentioning specifically Destiny 2.

Read more of this story at Slashdot.

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