• Cupertino's mayor: Apple 'abuses us' by not paying taxes

    Published: Thu, May 5, 2016

    The last time the mayor of Cupertino walked into Apple – the largest company in his small Californian town and, it so happens, the most valuable company in the world – he hoped to have a meeting to talk about traffic congestion.  Barry Chang barely made it into the lobby when Apple’s security team surrounded and escorted him off the property.   “They said ‘you cannot come in, you’re not invited’. After that I left and have not gone back,” said an exasperated Chang, who’s been mayor since December 2015 and had approached the computing firm when he was serving on the city council three years ago.

  • The retail industry is transforming, but not the way you think it is

    Published: Wed, May 4, 2016

    There's a major shift underway in the retail industry, but it may not be the one you think. Goldman Sachs' global cohead of consumer retail and healthcare banking, Kathy Elsesser, described the impacts of e-commerce on the sector on a company podcast released on Wednesday . She said that those impacts are significant yet often misunderstood.

  • FBI: Man sprayed mouse poison mixture on Ann Arbor grocery store produce; suspect in custody

    Published: Wed, May 4, 2016

    ANN ARBOR, MI – Authorities have identified the man who sprayed liquid on food at Ann Arbor grocery stores, as well as the previously-unknown substance.   Tips from the public helped officials from the FBI and the Ann Arbor Police Department take the man into custody Tuesday, according to a release from the FBI Detroit Field Office. Further information on the man or potential charges was not released.   Officials believe the suspect used a liquid combination of an alcohol-based hand-sanitizer, water and Tomcat mouse poison to contaminate produce in three Ann Arbor grocery stores in the last two weeks.

  • Brazil judge orders WhatsApp blocked, affecting 100 million users

    Published: Tue, May 3, 2016

    A Brazilian judge ordered wireless phone carriers to block access to Facebook Inc's (FB.O) WhatsApp for 72 hours throughout Latin America's largest country on Monday, the second such move against the popular messaging application in five months.   The decision by the judge in the northeastern state of Sergipe applies to the five main wireless operators in Brazil and affects WhatsApp's more than 100 million users in the country. The reason for the order is not known due to legal secrecy in an ongoing case in the Sergipe state court.  In a statement, WhatsApp said the company is "disappointed at the decision" after doing the utmost to cooperate with Brazilian tribunals.

  • Overfishing puts $42bn tuna industry at risk of collapse

    Published: Tue, May 3, 2016

    Overfishing is jeopardising a global tuna industry worth more than $42bn (£29bn), according to the first assessment of its kind. A report produced by the Pew Charitable Trusts has highlighted the significant revenues that fishermen, processors and retailers are generating from severely depleted species of tuna.  Taken together, the seven most commercially important tuna species – skipjack, albacore, bigeye, yellowfin, atlantic bluefin, Pacific bluefin and southern bluefin – generated $12bn (£8bn) for fishermen in 2014, while the full value, including the total amount paid by the final consumer at supermarkets and restaurants around the world, was estimated to be $42bn (£29bn).   “It’s no secret that tuna are big business,” said Amanda Nickson, Pew’s director of global tuna conservation. “Now, for the first time, we’re able to put an actual price on what’s at stake in the fight for the conservation and sustainable management of these commercially and ecologically important fish.”

  • Sports Authority closing all stores nationwide

    Published: Tue, May 3, 2016

    ENGLEWOOD, CO (WCMH) — Sports Authority announced that it will be closing the doors of all its retail stores nationwide.   The sporting goods retail chain filed for Chapter 11 bankruptcy last month, originally saying it would close 140 stores and two distribution centers. Two central Ohio stores were on that list of closures.   But now, a Sports Authority officials said in US bankruptcy court that the company will not be able to reorganize and will pursue a sale instead. The retail chain is carrying just over $1 billion in debt.

  • FBI seeking ID of man sprinkling unknown liquid on food at Ann Arbor Whole Foods

    Published: Mon, May 2, 2016

    ANN ARBOR, MI -- The FBI is looking to speak with the man suspected of attempting to contaminate food products inside the Whole Foods Market on Eisenhower Parkway in Ann Arbor.   FBI Spokesperson Jill Washburn did not divulge the identity of the store the man was seen sprinkling an unknown liquid substance on food carts inside the store last week, but believes photos released will help in leading to the man's identity.   "We do not know what the substance was," she said. "The only thing that he was seen sprinkling the substance on was food."

  • Puerto Rico says it will default on Monday

    Published: Mon, May 2, 2016

    Puerto Rico is going to default.   In a television address made Sunday, Puerto Rico's governor Alejandro Garcia Padilla said the island's Government Development Bank (GDB) will not make a $422 million payment due to its creditors by the end of business on Monday, according to Bloomberg.   A Reuters report ahead of Padilla's address released on Sunday evening said the GDB was, "expected to skip at least the principal portion of its payment to hedge funds, credit unions and other bondholders."

  • Massive oil theft by pirates costs Nigeria $1.5 billion every month

    Published: Mon, May 2, 2016

    Depressed oil prices, rampant corruption, and pipeline vandalism are only parts of Nigeria’s oil problem. It’s now losing a massive 400,000 barrels of crude daily to pirates in the Gulf of Guinea, an amount equal to the entire daily export capacity of its Forcados terminal.   Overall damage from piracy, theft and fraud for Africa’s largest oil exporter is estimated at some $1.5 billion a month, according to U.S. deputy ambassador to the UN, Michele Sison, citing a Chatham House report. Attempts by local governments and the UN to put a stop to piracy have met with some success, but the practice continues — shifting location and adapting to new security measures, so now the UN Security Council is calling for a comprehensive framework of measures aimed at eradicating it.

  • Freddie Mac may need another taxpayer bailout next week

    Published: Mon, May 2, 2016

    Freddie Mac FMCC, -1.21%  is expected to report a loss when it announces first-quarter earnings before the bell on Tuesday. That’s bad news for any public company, but especially critical for the mortgage provider because of its tangled history with the federal government.   Freddie and its counterpart, Fannie Mae FNMA, -0.58% were put into conservatorship in 2008 as the mortgage meltdown ensnared the financial system. They have lingered as wards of the state ever since. The Treasury Department modified the deal in 2012, requiring Fannie and Freddie to send all quarterly profits to the government — and shrink their reserves to zero by 2018.

  • Facebook or Google? Here's the difference between working at 2 of the best employers in America

    By Rachel Gillett, Business Insider | Published: Sun, May 1, 2016

    If you're faced with the decision of whether you should accept a job at Facebook or Google, congratulations — you are one of the privileged few. Both employers rank in the top five on this year's list of  the 50 best companies to work for in America , based on exclusive data from  PayScale . And both are extremely competitive in their quest to hire the best and the brightest. Once you've passed the  intense interview process  at each respective company, a number of awesome perks, great compensation, and most likely extreme contentment in your new job await you — but which job do you choose? To make your decision a little easier, here's a head-to-head comparison of how Facebook and Google stack up as employers. View As:  One Page   Slides

  • VW and Shell try to block EU push for electric cars

    Published: Fri, Apr 29, 2016

    VW and Shell have united to try to block Europe’s push for electric cars and more efficient cars, saying biofuels should be at heart of efforts to green the industry instead. The EU is planning two new fuel efficiency targets for 2025 and 2030 to help meet promises made at the Paris climate summit last December. But executives from the two industrial giants launched a study on Wednesday night proposing greater use of biofuels, CO2 car labelling, and the EU’s emissions trading system (ETS) instead.

  • SpaceX breaks Boeing-Lockheed monopoly on military space launches

    Published: Thu, Apr 28, 2016

    The U.S. Air Force on Wednesday awarded billionaire Elon Musk's SpaceX an $83 million contract to launch a GPS satellite, breaking the monopoly that Lockheed Martin Corp (LMT.N) and Boeing Co (BA.N) have held on military space launches for more than a decade. The Global Positioning System satellite will be launched in May 2018 from Florida, Air Force officials said. The fixed-price award is the military's first competitively sourced launch service contract in more than a decade. It ends the exclusive relationship between the military and United Launch Alliance, a partnership of Lockheed Martin and Boeing.

  • Denmark considers tax on beef, other red meats to combat climate change

    Published: Thu, Apr 28, 2016

    The price of porterhouse may soon get beefed up in Denmark-- if the small Scandinavian nation’s Council on Ethics has its way. The council, an independent body that advises the government, said this week that Danes have an ethical obligation to fight climate change. And to push them to do that, it called for a “climate tax” on red meat. According to The Local, the U.N. Food and Agriculture Organization has determined that 18 percent of all greenhouse gas emissions – more than the total exhaust from all forms of transportation – comes from animal agriculture. Raising cattle not only contributes 10 percent of those emissions, but it also takes11,360 gallons of fresh water to produce just over two pounds of beef.

  • T. Boone Pickens says America’s oil industry is ‘dead in the water’

    Published: Wed, Apr 27, 2016

    The legendary oilman told the Washington Post that the U.S. oil industry won't recover quickly from low prices.

  • Mark Zuckerberg hopes to help cure all diseases by the end of the century

    Published: Wed, Apr 27, 2016

    Mark Zuckerberg has some huge ambitions.  As part of Facebook's blockbuster earnings , the company announced a new stock structure that keeps Zuck in full control , even while he gives away most of his shares.  "I’ll be able to keep founder control of Facebook so we can continue to build for the long term, and Priscilla and I will be able to give our money to fund important work sooner," the CEO explained  in a post on Facebook. 

  • Rich people make a daily choice that everyone else avoids

    Published: Wed, Apr 27, 2016

    While the formula for getting rich is surprisingly simple , it's far from easy. The wealthiest, most successful people have remarkable work ethic and tend to put in more hours, continually step outside of their comfort zone , and are willing to wake up well before the sun . They also make a daily choice that most people avoid at all costs: Rich people don't follow the herd.

  • Did we just hit peak Apple?

    Published: Wed, Apr 27, 2016

    Apple posted its worst quarterly financial results in more than a decade on Tuesday. Sales of iPhones, iPads, and Macs all fell by double digits, leading to a 13 percent drop in total revenue. The markets have reacted harshly, with the company's stock losing more than 7 percent of its value in after-hours trading. Apple is still an enormously profitable company — it pulled in more than $10 billion in net income last quarter. But the latest figures represent the end of an era in which CEO Tim Cook — and before him Steve Jobs — could seemingly do no wrong. However, the disappointing results don't necessarily mean that Cook has made any major management blunders. The issue is simply that the iPhone has been one of the most successful consumer products in world history. It's an almost impossible act to follow.

  • 16 unprofessional email habits that make everyone hate you

    Published: Tue, Apr 26, 2016

    With the onslaught of emails we receive every day, it's hard to imagine how anyone could keep up professional email habits at all times. To make this task a little less daunting, we asked experts to highlight some of the least professional behaviors you could demonstrate when sending an email. While mastering the art of good email etiquette doesn't mean sending out beautifully crafted prose each time — that would take forever — if you can avoid these bad habits, you'll be off to a great start.

  • The driverless truck is coming, and it’s going to automate millions of jobs

    Published: Tue, Apr 26, 2016

    A convoy of self-driving trucks recently drove across Europe and arrived at the Port of Rotterdam. No technology will automate away more jobs — or drive more economic efficiency — than the driverless truck. Shipping a full truckload from L.A. to New York costs around $4,500 today, with labor representing 75 percent of that cost. But those labor savings aren’t the only gains to be had from the adoption of driverless trucks. Where drivers are restricted by law from driving more than 11 hours per day without taking an 8-hour break, a driverless truck can drive nearly 24 hours per day. That means the technology would effectively double the output of the U.S. transportation network at 25 percent of the cost.