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- 08/23/17--15:01: _TRUMP, BREXIT, AND ...
- 08/23/17--15:19: _Former neo-Nazi: He...
- 08/23/17--15:20: _'Sir, these numbers...
- 08/23/17--15:37: _We tested an econom...
- 08/23/17--15:37: _Apple's autonomous ...
- 08/23/17--16:01: _The eSports competi...
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- 08/23/17--18:46: _Trump keeps angrily...
- 08/23/17--19:03: _The fintech ecosyst...
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- Cross-border e-commerce — defined as any online purchase made from a business located in another country — will grow to more than $1 trillion by 2021 under current global trade policies.
- However, protectionist trade policies could disrupt several major cross-border e-commerce corridors by placing tariffs and new customs restrictions on goods moving between countries, and, in some cases, severely limiting online retailers' ability to reach consumers in other markets.
- Donald Trump's election in the US has raised the possibility of trade relations between the US and China deteriorating. This would threaten the most valuable cross-border e-commerce corridor in the world, as US retailers have found a massive market for their wares among China's online shoppers.
- The renegotiation of NAFTA will begin later this year, with cross-border e-commerce between the US, Canada, and Mexico hanging in the balance. US online retailers already garner billions in sales from Canadian consumers every year, and are making more inroads to Mexico as well.
- Brexit negotiations could impact tens of billions of dollars in e-commerce sales between UK consumers and EU merchants and vice versa. Though these merchants and consumers have long-standing ties, a "hard" Brexit would add new costs and complexities to transactions between them.
- Forecasts the growth of cross-border e-commerce globally, as well as growth in the specific corridors that could be impacted by Brexit, NAFTA renegotiations, and US-China trade relations.
- Examines trends and challenges in cross-border e-commerce between the UK and EU, as well as between the US and Canada, Mexico, and China.
- Analyzes the impact that different scenarios — including a "hard" vs. "soft" Brexit, or targeted tariffs imposed on US-China trade — could have on cross-border e-commerce between the countries involved.
- Provides insight into the likelihood of these scenarios, helping online retailers adjust their plans for international expansion and sales.
- Many members of the "alt-right" and "white nationalists argue they aren't racist.
- A former white supremacist says most are lying to make their message "palatable."
- Data suggest at least 19% of white nationalist movement is Nazi sympathizers.
- They are at an early stage in their recruitment and "don't yet realize the path they are on."
- They are lying — Picciolini says this is the "vast majority."
- Apple is still "playing catch-up" with its self-driving car technology, one person who's seen the tech says.
- The scaled down unit is still in turmoil after a major reorg last year but is hiring again.
- Apple seems to be eyeing the ride hailing market but isn't yet working on becoming the next Uber itself.
- eSports is a still nascent industry filled with commercial opportunity.
- There are a variety of revenue streams that companies can tap into.
- The market is presently undervalued and has significant room to grow.
- The dynamism of this market distinguishes it from traditional sports.
- The audience is high-value and global, and its numbers are rising.
- Brands can prosper in eSports by following the appropriate game plan.
- Game publishers approach their Esport ecosystems in different ways.
- Successful esport games are comprised of the same basic ingredients.
- Digital streaming platforms are spearheading the popularity of eSports.
- Legacy media are investing into eSports, and seeing encouraging results.
- Traditional sports franchises have a clear opportunity to seize in eSports.
- Virtual and augmented reality firms also stand to benefit from eSports.
- The gaming nucleus of eSports, including an overview of popular esport genres and games; the influence of game publishers, and the spectrum of strategies they adopt toward their respective esport scenes; the role of eSports event producers and the tournaments they operate.
- The eSports audience profile, its size, global reach, and demographic, psychographic, and behavioral attributes; the underlying factors driving its growth; why they are an attractive target for brands and broadcasters; and the significant audience and commercial crossover with traditional sports.
- eSports media broadcasters, including digital avant-garde like Twitch and YouTube, newer digital entrants like Facebook and traditional media outlets like Turner’s TBS Network, ESPN, and Canal Plus; their strategies and successes in this space; and the virtual reality opportunity.
- eSports market economics, with a market sizing, growth forecasts, and regional analyses; an evaluation of the eSports spectacle and its revenue generators, some of which are idiosyncratic to this industry; strategic planning for brand marketers, with case studies; and an exploration of the infinite dynamism and immense potential of the eSports economy.
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- 08/23/17--17:46: This California city has a massive troll problem
- 08/23/17--19:03: The fintech ecosystem explained
- Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees
- Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful
- Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.
- Retail banking
- Lending and Financing
- Payments and Transfers
- Wealth and Asset Management
- Markets and Exchanges
- Blockchain Transactions
- Fintech investment continues to grow. After landing at $19 billion in total in 2015, global fintech funding had already reached $15 billion by mid-August 2016.
- The areas of fintech attracting media and investor attention are changing. Insurtech, robo-advisors, and digital-only banks are only a few of the segments making waves. B2B fintechs are also playing an increasingly prominent role in the ecosystem.
- It's not all good news for fintechs. Major hurdles, including customer acquisition and profitability, remain. As a result, many are becoming more willing to enter partnerships and adjust their business models.
- Incumbents are enacting strategies to ensure they remain relevant. Many financial firms have woken up to the threat posed by fintechs and are implementing innovation strategies to stave off disruption. The majority of these strategies involve some interaction with fintech firms.
- The relationship between incumbents and fintechs continues to evolve. Fintechs are no longer viewed exclusively as a threat, nor can they be ignored. They are increasingly viewed as partners, but that narrative alone is too simple — in reality, a more nuanced connection is taking hold.
- Assesses the state of the fintech industry.
- Gives details on the drivers of its growth.
- Explains which areas of fintech are gaining traction.
- Outlines the range of current and potential models for fintech and incumbent interaction.
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This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.
Cross-border e-commerce is widely expected to be a key growth engine for the global e-commerce industry in the coming years, thanks to a convergence of consumer and market trends.
Major retailers are already expanding their cross-border shipping options, and cross-border online purchases — those between consumers and merchants based in different countries — are set to grow twice as fast as domestic ones through 2020, according to a study released earlier this year by DHL.
BI Intelligence estimates that, with current policies in place, global cross-border e-commerce will generate more than $1 trillion in sales for retailers by 2021.
However, over the past year, two key global events — the presidential election in the US and the Brexit vote in the UK — have cast uncertainty over the cross-border e-commerce market in the form of protectionist trade policies that could restrict the flow of goods between different countries. Growing economic nationalism in Western democracies — a phenomenon brought on by negative perceptions of the trade liberalization and globalization that these countries have experienced since the end of the Cold War — fueled both of these political upheavals.
In a new report, BI Intelligence details the the potential impact of the rise of economic nationalism in Western democracies on the global cross-border e-commerce market. Brexit, NAFTA's renegotiation, and potential disruptions to US-China trade relations could dramatically impact cross-border e-commerce between the UK and EU, and the US and China, Mexico, and Canada. These cross-border e-commerce corridors together make up around 20% of global cross-border e-commerce, and generate tens of billions in online sales for merchants today.
Here are some of the key takeaways from the report:
In full, the report:
You can also purchase and download the report from our research store.
Since violence erupted in Charlottesville earlier this month at the white supremacist "Unite the Right" rally, many self-proclaimed "alt-righters" and white nationalists have argued they should not be lumped in with neo-Nazis, white supremacists, and KKK members.
Peter Cvjetanovic, a 20-year-old college student featured in a now viral photo of the rally, said he attended the march "for the message that white European culture has a right to be here just like every other culture," and said he believed the removal of Lee's statue symbolized "the slow replacement of white heritage" in the US.
Richard Spencer, one of the leaders of the "alt-right" and white nationalism in the US, has denied that the movements are racist.
"Did he say 'white nationalist?'" Spencer asked reporters, after President Donald Trump denounced neo-Nazis, the Ku Klux Klan, and white supremacists in his second post-Charlottesville statement. "'Racist' means an irrational hatred of people. I don't think he meant any of us.'"
Christian Picciolini, a former white supremacist, told Business Insider that onlookers shouldn't be fooled by Spencer or other white supremacists' claims that they aren't racist.
The "alt-right" and "white nationalist" movements are the culmination of a 30-year effort to "massage" the white supremacist message, Picciolini said.
He would know — at the age of 14, Picciolini was recruited by Clark Martell, the former leader of the Chicago Area Skin Heads, reputed to be the first organized neo-Nazi group in the US. Two years later, in 1989, Picciolini became the leader of the group.
"We recognized back then that we were turning away the average American white racists and that we needed to look and speak more like our neighbors," Picciolini said. "The idea we had was to blend in, normalize, make the message more palatable."
This effort to normalize is visible in the "alt-right" rhetoric that has been prevalent during and since the 2016 campaign, he said. Common white supremacist tropes like "Jewish media" and "Jewish global conspiracy" have been transposed to "liberal media" and "globalism"— or avoided altogether by invoking figures like billionaire George Soros, who is Jewish.
Picciolini said there are two reasons that "alt-righters" and "white nationalists" try to distance themselves from neo-Nazis and white supremacists:
"We lied all the time. To the media, we weren't a hate organization — we were a pro-White organization. We felt that our white pride was being taken away. It was all spin," Picciolini said. "Behind closed doors, it was all about supremacy and power and eliminating people that weren’t like us."
These days, Picciolini leads Life After Hate, a nonprofit organization dedicated to helping neo-Nazis, white supremacists, KKK members, and other far right activists leave their organizations and their hateful ideologies. He said the organization has seen a flood of donations since the events in Charlottesville.
The connection between the "alt-right" and hate organizations has not been lost on experts like J.M. Berger, who studies far-right extremism in the United States as a fellow with the International Centre for Counter-Terrorism.
"Not everyone in the alt-right is a overt white nationalist," Berger told Business Insider in an email. "But white nationalism is definitely the movement's center of gravity, and the term originated with an explicitly white nationalist website."
That website, Alternativeright.com (now Altright.com) marked the birth of the term "alt-right" and was founded by Richard Spencer, who heads the white nationalist think tank the National Policy Institute.
In a September report published by George Washington University comparing the social media efforts of white nationalists with the Islamic State, Berger wrote that neo-Nazi groups began pushing "for more collaboration" among "Nazi-sympathetic and other white nationalist strains" when efforts stalled to recruit more "normal" people.
In a random sample of Twitter users that followed prominent white nationalist organizations and leaders, about 19% were Nazi sympathizers, Berger found.
Natasha Bertrand contributed reporting to this story.
CNN anchor Jake Tapper delivered a stinging critique of President Donald Trump in the wake of a poll that showed Americans disapprove of his actions this month.
"President Trump is a man who looks to numbers and to ratings," Tapper said on "The Lead.""These numbers, sir, these numbers are disastrous."
Tapper cited unfavorable results from a Quinnipiac University poll released on Wednesday that called into question Trump's ability to lead the nation.
In the poll, 68% of respondents said Trump was not levelheaded, 62% said he doesn't provide the US with moral leadership, 61% said he wasn't honest, and 62% said Trump was doing more to divide the country than unite it.
Finally, 59% of respondents said Trump has encouraged white supremacist groups rather than discourage them.
"You are no doubt pleasing your base, but your behavior is causing great concern among the majority of the American people," Tapper said.
On Tuesday, in a speech in Phoenix that was largely improvised, Trump aggressively defended his response to the violent unrest at a white supremacist protest in Charlottesville, Virginia, earlier this month. Trump received widespread criticism after initially placing the blame for the violence on "many sides," rather than specifically condemning white supremacist groups.
Trump denounced hate groups by name last week in a scripted statement, but seemed to double down on his original statement one day later when he again claimed "both sides" were responsible for the violence, adding that there were "fine people" protesting alongside the white supremacists and neo-Nazis.
In Phoenix, the crowd erupted in cheers as Trump relitigated the media's response to each of his statements — "the words were perfect," Trump said. But critics have argued Trump's statements have empowered the so-called "alt-right" and deepened America's racial divide.
Watch the segment below:
Tapper to Trump: "Your behavior is causing great concern among the majority of the American people"https://t.co/s70kZSVtuu— The Lead CNN (@TheLeadCNN) August 23, 2017
The Powerball jackpot has risen to $700 million. We used this opportunity to test a cognitive bias known as regret avoidance.
We constantly have to make decisions without perfect information — like choosing an investment, picking a new job or deciding to buy a lottery ticket. We consider the possible outcomes and the probability of each and make the best choice with the information we have.
If new information becomes available after we have made a decision we sometimes experience regret — like feeling buyer’s remorse after deciding to purchase an expensive item that goes on sale after your purchase.
When making decisions, we can anticipate future regret and incorporate the weight of that into our decision making. Lotteries provide a wonderful real life test for how regret avoidance impacts our decision making.
We have an office lottery pool which over 50 people participated in. We polled the participants and found that 86% of them joined the pool because they would be miserable if their colleagues won and they were left out. For many, It’s an easy decision to pay $2 to avoid the possibility of feeling so much regret. That is regret avoidance.
But to really test this, let’s make one choice clearly superior. We went outside and tried to buy lottery tickets from people for more than they paid. The rational choice, in this case, would always be to sell your ticket and buy more tickets or pocket the extra cash and replace your tickets. But people aren’t known to be rational.
Most people refused to sell us their tickets for twice what they paid. They were worried that they might be selling a winning ticket and that decision would be too much to bear.
The development of Apple's autonomous driving technology is at about the stage where Google's self-driving car project "was three years ago," according to a person who has seen Apple's tech and is familiar with the technology of several other autonomous car front runners.
"Apple is just trying to play catch up," this person told Business Insider.
Google's project, now spun out into its own company called Waymo, is by many accounts the furthest along in self-driving technology. Companies such as Uber, Tesla and traditional automakers such as GM, are all developing autonomous driving technology.
Apple is a relatively recent entrant to the field. But despite some of the strides the company has made in self-driving technology, it remains far behind some of its rivals.
Apple's car project is part of the company's Special Project Team and it famously scaled back its ambitions for a self-driving car late last year. Apple had originally planned to build its own automobile. The company enlisted a sprawling team of engineers to rethink every detail of today's car, such as replacing traditional car wheels with spherical wheels, ditching the gas pedal, and adding virtual reality into internal displays, reports the New York Times Daisuke Wakabayashi.
In July 2016, the Special Projects team was reorganized under a new leader, Bob Mansfield. Layoffs ensued and, under Mansfield, Apple shifted course away from the idea of building its own car. The unit is now focused on developing "autonomous systems" Tim Cook told Bloomberg's Emily Chang in June.
Internally, the Apple car project is still feeling the results of the reorg and is still suffering from some confusion of purpose, but it is hiring again, this person told us. It is specifically seeking out people with autonomous vehicle software experience. With over 250 companies and startups working on self-driving cars these days, competition for talent is fierce, but there's also plenty of poaching ground.
To test its autonomous technology, Apple is operating a commuter car service for employees codenamed PAIL — short for "Palo Alto to Infinite Loop" — that ferries staff between Apple's campus and the nearby town of Palo Alto, California, according to the New York Times.
PAIL is likely based on a Lexus RX450h SUV per photos Bloomberg posted of an Apple test car in the spring. Earlier this year, Apple registered three Lexus SUVs as self-driving cars in the state of California.
This is similar to how Google's self-driving cars began, by shuttling employees around the Googleplex campus in Mountain View, California.
By 2014 — the point in the development of Google's technology that Apple has now reached — the company's self-driving car technology still suffered from many constraints. Speaking in 2014, Google's then-head of autonomous cars said that Google's vehicles could not detect open manholes on the streets or "see" a stoplight that was in front of a bright sun. The cars could easily be fooled by road construction zones and could not tell the difference between a crumbled piece of paper or a more dangerous obstacle littering the road.
According to the source that Business Insider spoke with, Apple is creating its autonomous systems with an eye to the ride-sharing and ride-hailing market but that Apple has no plans at this point to go it alone and try to become the next Uber.
"Even if they have this [autonomous vehicle] specialty, and they get to a mature point on it, they don’t have the operations expertise. It's the same thing that Waymo is facing," this person said.
So, Apple will be leaning on partnerships with ride-hailing services to help it turn this technology into a new business. Apple has apparently already geared up for that. Last year Apple invested $1 billion into Uber's Chinese competitor Didi Chuxing and has a seat on its board.
Similarly, Waymo has partnered with Lyft.
Should Uber get through its current leadership crises by hiring a new CEO who rebuilds the firm's damaged reputation, this person believes that Apple could be open to a partnership with Uber as well.
Uber is also creating its own self-driving car technology. And it is currently locked in bitter litigation with Waymo over self-driving car technology. Even so, Uber's self-driving technology unit is still hiring, and Uber's board continues to support the project, this person told us.
Apple declined to comment.
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.
What is eSports? History & Rise of Video Game Tournaments
Years ago, eSports was a community of video gamers who would gather at conventions to play Counter Strike, Call of Duty, or League of Legends.
These multiplayer video game competitions would determine League of Legends champions, the greatest shooters in Call of Duty, the cream of the crop of Street Fighter players, the elite Dota 2 competitors, and more.
But today, as the history of eSports continue to unfold, media giants such as ESPN and Turner are broadcasting eSports tournaments and competitions. And in 2014, Amazon acquired Twitch, the live streaming video platform that has been and continues to be the leader in online gaming broadcasts. And YouTube also wanted to jump on the live streaming gaming community with the creation of YouTube Gaming.
eSports Market Growth Booming
To put in perspective how big eSports is becoming, a Google search for "lol" does not produce "laughing out loud" as the top result. Instead, it points to League of Legends, one of the most popular competitive games in existence. The game has spawned a worldwide community called the League of Legends Championship Series, more commonly known as LCS or LOL eSports.
What started as friends gathering in each other's homes to host LAN parties and play into the night has become an official network of pro gaming tournaments and leagues with legitimate teams, some of which are even sponsored and have international reach. Organizations such as Denial, AHQ, and MLG have multiple eSports leagues.
And to really understand the scope of all this, consider that the prize pool for the latest Dota 2 tournament was more than $20 million.
Websites even exist for eSports live scores to let people track the competitions in real time if they are unable to watch. There are even fantasy eSports leagues similar to fantasy football, along with the large and growing scene of eSports betting and gambling.
So it's understandable why traditional media companies would want to capitalize on this growing trend just before it floods into the mainstream. Approximately 300 million people worldwide tune in to eSports today, and that number is growing rapidly. By 2020, that number will be closer to 500 million.
eSports Industry Analysis - The Future of the Competitive Gaming Market
Financial institutions are starting to take notice. Goldman Sachs valued eSports at $500 million in 2016 and expects the market will grow at 22% annually compounded over the next three years into a more than $1 billion opportunity.
And industry statistics are already backing this valuation and demonstrating the potential for massive earnings. To illustrate the market value, market growth, and potential earnings for eSports, consider Swedish media company Modern Times Group's $87 million acquisition of Turtle Entertainment, the holding company for ESL. YouTube has made its biggest eSports investment to date by signing a multiyear broadcasting deal with Faceit to stream the latter's Esports Championship Series. And the NBA will launch its own eSports league in 2018.
Of course, as with any growing phenomenon, the question becomes: How do advertisers capitalize? This is especially tricky for eSports because of its audience demographics, which is young, passionate, male-dominated, and digital-first. They live online and on social media, are avid ad-blockers, and don't watch traditional TV or respond to conventional advertising.
So what will the future of eSports look like? How high can it climb? Could it reach the mainstream popularity of baseball or football? How will advertisers be able to reach an audience that does its best to shield itself from advertising?
Robert Elder, research analyst for BI Intelligence, Business Insider's premium research service, has compiled an unparalleled report on the eSports ecosystem that dissects the growing market for competitive gaming. This comprehensive, industry-defining report contains more than 30 charts and figures that forecast audience growth, average revenue per user, and revenue growth.
Companies and organizations mentioned in the report include: NFL, NBA, English Premier League, La Liga, Bundesliga, NHL, Paris Saint-Germain, Ligue 1, Ligue de Football, Twitch, Amazon, YouTube, Facebook, Twitter, ESPN, Electronic Arts, EA Sports, Valve, Riot Games, Activision Blizzard, ESL, Turtle Entertainment, Dreamhack, Modern Times Group, Turner Broadcasting, TBS Network, Vivendi, Canal Plus, Dailymotion, Disney, BAMTech, Intel, Coca Cola, Red Bull, HTC, Mikonet
Here are some eSports industry facts and statistics from the report:
In full, the report illuminates the business of eSports from four angles:
Interested in getting the full report? Here are two ways to access it:
Consumers who are lucky enough to get their hands on one of the new Super Nintendo Classic Edition consoles will not only be getting an inexpensive remake of the popular game machine, they'll also be getting some of the top games that were made for the original version.
The SNES Classic Edition is a miniaturized version of Nintendo's original Super Nintendo Entertainment System from the early 1990s. It costs only $80 and comes loaded with 21 classic games. Among those are six of the 10 most popular games that were made for the original console, as this chart from Statista— which is based on data from VGChartz and Nintendo — shows.
Many fans ended up disappointed last year when Nintendo's NES Classic, a miniaturized version of its original game machine from the 1980s, ran out of stock. The company has promised to make "significantly more" units of the SNES Classic, but when preorders for the device went live on Amazon and Best Buy on Monday night, the device sold out almost immediately. With a game lineup like this, it's not hard to see why.
When it comes to cloud computing, Google has long maintained that it has an edge: When a business customer uses Google Cloud, its software runs from the very same servers as Google itself, with the data traveling on Google's privately-owned global computer networks.
Today, though, the search giant made a surprising change, as announced in a blog entry.
Now, if you want to save money, Google Cloud offers a "standard" tier that will let your software's data travel on the same networks that everybody else uses. The existing, default option for keeping your data within the Google family, so to speak, becomes the "premium" tier (the price of the premium tier won't change, there will just be a less expensive option now).
Google claims that the "standard" tier doesn't offer bad performance, objectively speaking. It's just that your business's network traffic will be routed through commercial ISPs and their infrastructure — the exact same way that most web traffic reaches consumers, and the default way that the market-leading Amazon Web Services does it.
Google Product Manager Prajakta Joshi likens that premium tier to a "private jet" — super fast, and great, if you can afford it. But for a lot of people, it's fine to just fly coach most of the time.
Google's "premium" network, for example, includes a network of undersea Kevlar-wrapped cables starting on America's West Coast and ending in Japan, with a top capacity of 60 terabytes per second. But not everybody needs that.
If you're lucky enough to be near one of Google's data centers, or you're running an application that's just not super-critical to your business, you might not be fully reaping the rewards of running on Google's high-performance networks, so why not save money, Joshi told Business Insider.
"If you go further, you pay more, if you go closer, you pay less," Joshi explains.
Google says that it's not about pricing, either, although the company claims that the new tier has saved some early customers between 24% to 33% on their bill. While Google, Amazon, and Microsoft have long been engaged in the so-called "race to zero" in pricing, the search giant says this is more about customiziability.
"It's not about cutting price, it's not about price wars," says Joshi. Instead, she says, the ability to "mix and match" between the faster and slower tiers to maximize cost efficiency will "differentiate us from the other options."
Regardless, there's definitely an ongoing price war between Amazon Web Services, Microsoft Azure, and Google Cloud, which respectively claim the first, second, and third-place crowns in the cloud computing market. Giving customers a way to cut their bill is likely to turn some heads, giving Google a potential advantage going forward.
President Donald Trump met with two potential challengers to a vulnerable Republican senator on Tuesday, reaffirming his baffling commitment to ousting a member of his own party from Washington.
The president has made no secret of his desire to replace Arizona Sen. Jeff Flake, who escalated his criticism of Trump in his new book "Conscience of a Conservative." On Tuesday, Trump briefly spoke with Arizona Treasurer Jeff DeWit and former state GOP Chairman Robert Graham, both of whom are considering challenging Flake in next year's Republican primary, according to Politico.
The brief meeting came backstage at the Phoenix Convention Center before Trump hosted a campaign-style rally. It also included GOP Rep. Trent Franks, a member of the House Freedom Caucus, Politico noted.
Trump reportedly gauged DeWit and Graham's interest in running against Flake, who he derisively referred to as "the flake," Politico reported.
During the rally that followed the meeting, Trump blasted Flake — "weak on borders, weak on crime," Trump said — while making a point of not calling the senator out by name.
"Nobody wants me to talk about your other senator, who's weak on borders, weak on crime, so I won't talk about him," Trump said, eliciting jeers from the crowd. "Nobody wants me to talk about him. Nobody knows who the hell he is. And now, see, I haven't mentioned any names. So now, everybody's happy."
Trump ditched any pretense of subtlety in a Wednesday-morning tweet:
Phoenix crowd last night was amazing - a packed house. I love the Great State of Arizona. Not a fan of Jeff Flake, weak on crime & border!— Donald J. Trump (@realDonaldTrump) August 23, 2017
Flake, while criticizing Trump's plan to build a wall on the US-Mexican border, has voted for Trump's position in 94% of the Senate votes this year, according to FiveThirtyEight.
Another Republican, former Arizona state Sen. Kelli Ward, has formally launched a bid to challenge Flake in 2018. Ward previously challenged Sen. John McCain for the Republican's seat in 2016.
Trump's assault on Flake, as well as other vulnerable Republican senators such as Dean Heller of Nevada, have angered members of the Republican leadership. A super PAC aligned with Senate Majority Leader Mitch McConnell released an attack ad on Tuesday painting Ward as a conspiracy theorist, The New York Times reported.
Something is up in Bellflower, California — citizens there seem to have a lot of bile to spew.
Nearly a third of all the online comments made by people living in the Southern California city over the last 16 months were hostile or toxic, according to a new report by Wired that was based on data from Disqus. That proportion of hostile comments was 335% higher than proportion for the rest of the state, according to the report.
The magazine and Disqus, a company that offers online discussion services for web sites, analyzed 92 million comments from internet users nationwide that were left over a 16-month period. The magazine and Disqus defined toxic comments as ones that are "rude, disrespectful, or unreasonable" and that would be likely to make someone "leave a discussion."
Some 32.7% of the comments coming from Bellflower qualified as toxic. By comparison, only 8.1% of the comments emanating from neighboring Los Angeles were considered as toxic.
So what's Bellflower's problem? On the surface, it doesn't seem to be a bad place. But who knows what angers the trolls.
Bellflower calls itself "The Friendly City."
It appears to be a standard suburban city. Located just north of Long Beach and due east from Compton, the city is celebrating its 60th anniversary this year.
It's a medium-sized city with a relatively young population — and a quite a bit of crime.
Some 77,790 people lived in Bellflower as of last year, and the median age of its residents was 32, according to US Census data.
The city is definitely not Beverly Hills; the median household income in Bellflower in 2015 was $48,823, according to Census data.
The city also isn't exactly quiet. With some 163 crimes per 10,000 people over a recent six month period, according to data from the Los Angeles Times, it has its share of crime problems. That's above average for the Los Angeles area.
Still, Bellflower has fewer problems with crime than some of its neighbors, the data indicates.
City residents and visitors aren't thrilled with it.
Like other cities, Bellflower has its own Yelp page. It doesn't have a lot of reviews, but it gets a middling grade from those who have taken the time to rate it — just two-and-a-half stars.
Many of the comments are pretty negative, complaining about rude city employees and trash on the streets. The city's apparently overzealous parking and traffic enforcement drew particular ire.
"What a dump," one reviewer wrote on Yelp. "From the cops handing out tickets right and left for little things instead of going after the crime, car break-ins, robberies, drug dealers, [etc.]
"I just visit when I need to, but if I was a citizen, I would move the f*** out."
But like that person, many of the people who gave the city negative comments were visitors. And some who commented had better things to say.
According to one reviewer, who gave the city top marks, Bellflower is an "awesome little city. [It's] got that small town feel."
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The White House is reportedly planning to issue guidelines for President Donald Trump's plan to prohibit transgender people from serving in the US military, The Wall Street Journal reported on Wednesday night.
The guidance, which The Journal said would be issued in the coming days, would stop funding for procedural medical treatments for transgender service members.
The directive would give Secretary of Defense James Mattis six months to prepare for the proposed plan, according to The Journal. Mattis is also expected to weigh a transgender person's ability to deploy as the primary legal basis to determine whether to remove them from the military.
Trump initially floated the new policy in a series of tweets in July, claiming that the military "cannot be burdened with the tremendous medical costs and disruption that transgender in the military would entail."
Trump's statement sparked backlash from LGBTQ-rights groups and caused confusion amongst military service members, as the Pentagon and the White House attempted to defer media inquiries on the matter to each other.
After Trump's apparent reversal of President Barack Obama's directive to end the ban on transgender service members, Reuters reported earlier this month that five transgender service members, including veterans of recent wars, sued Trump, claiming that his tweets violated their rights to due-process and equal protection under the law.
One of the most notorious trades in the history of the NBA occurred during the 2013 offseason between the Brooklyn Nets and the Boston Celtics, a trade that would resonate throughout the league for years.
The Nets had decided to go all in for the upcoming season and traded a slew of draft picks and players for three veterans they hoped would be the final pieces to a championship team. The Nets did make the playoffs as the fifth seed in 2014, but were bounced from the playoffs in the second round by LeBron James and the Miami Heat.
Eight months after that playoff series, all three veteran players would be gone and little did anybody know at the time of the trade, the Nets would turn into one of the worst teams in the NBA. As a result, the draft picks given to the Celtics would routinely land near top of the draft, and in one instance, as the No. 1 overall pick.
Four years later, the Celtics just used the final piece from that trade, giving the Cleveland Cavaliers the final first-round pick as part of the deal to land Kyrie Irving.
In all, 15 players and picks were exchanged in the orignal deal. Below we take a look at what happened to all those players.
The Nets received Paul Pierce as one of the keys to the deal. Having spent 15 seasons with the Celtics, he was still a 19-point-per-game player in his final season in Boston. He was also about to turn 36.
Pierce spent just one season with the Nets (13.5 points per game) before spending his final three seasons in the NBA with the Washington Wizards and Los Angeles Clippers. He retired after last season and will soon have his number retired by the Celtics.
The Nets also received Kevin Garnett who was coming off his 20th season in the NBA, the previous six with the Celtics where he won his only title. He was also coming off an All-Star season in which he averaged 18 points and 9.5 rebounds per game. He was also 37 years old.
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President Donald Trump lashed out at two Republican senators recently over matters relating to Russia, according to a Politico report on Wednesday, showing the degree to which the unfolding Russia scandal is keeping the president occupied.
First, in a late-July phone call with Tennessee Sen. Bob Corker, Trump complained about a bipartisan bill that sanctioned Russia for interfering with the 2016 US election while making it tougher for Trump to lift the sanctions. The bill was overwhelmingly supported in Congress by both parties and was signed into law earlier this month.
"He was clearly frustrated," a source familiar with the call told Politico.
Then, on August 7, Trump called Sen. Thom Tillis of North Carolina to express his unhappiness with a bill that would limit Trump's ability to fire Robert Mueller, the special counsel investigating the Trump campaign's potential ties to Russia's election interference. Trump said he didn't want the bill to pass, according to another Politico source familiar with the call.
The two calls underscore Trump's increasing frustration with Congressional Republicans over their continued efforts to keep the Russia probe alive. Trump also lashed out at Senate Majority Leader Mitch McConnell in a profane phone call earlier this month relating to the sanctions bill.
"It seems he is just always focused on Russia," a senior Republican aide told Politico.
White House deputy press secretary Lindsay Walters acknowledged the two private calls, but did not offer specifics.
"We do not comment on private conversations the president has with members of Congress," Walters said in a statement. "We are committed to working together on tax relief, border security, strengthening the military, and other important issues."
But with each new quarrel with a fellow Republican, Trump strains the relationship between him and the Congress members who he needs to pass his agenda.
Trump has openly courted challengers to oust Republican Sen. Jeff Flake, who he called "weak on borders" for opposing Trump's plan to build a wall along the US-Mexican border. And he has threatened political retaliation against Republican senators who wavered on the GOP replacement health care bill, including Dean Heller of Nevada, who ultimately voted for the bill, and Lisa Murkowski of Alaska, who didn't.
The bill ultimately failed by one vote, delivering another defeat to the White House.
This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.
We’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.
No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.
The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:
As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.
After months of researching and reporting this important trend, Sarah Kocianski, senior research analyst for BI Intelligence, Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:
If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.
Among the big picture insights you'll get from The Fintech Ecosystem Report: The Emerging Technologies and Firms Driving Change in Financial Services and How Legacy Players Can Navigate The Disruption:
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A top aide to President Donald Trump reportedly passed along information about a person who wanted to set up a meeting between Trump campaign officials and Russian President Vladimir Putin, according to people with direct knowledge of the effort, CNN reported on Wednesday.
Rick Dearborn, who is now Trump’s deputy chief of staff, sent information to campaign officials last year pertaining to the effort, which had not been previously reported.
Dearborn was allegedly skeptical about the request, CNN senior congressional reporter, Manu Raju said in an interview on Wednesday evening.
The individual mentioned in the email was only identified as “WV.” One of CNN's sources said it could have been a reference to a contact located in West Virginia.
The email came around the same time as a June 2016 meeting at Trump Tower between Donald Trump Jr., Jared Kushner, Paul Manafort, and a Kremlin-linked Russian lawyer, the report said.
The email represents another example of Russia’s attempts to make inroads with the Trump campaign during the 2016 election. Russian operatives reportedly targeted Carter Page, a former foreign-policy adviser for the campaign, as a potential opening to Trump’s inner circle.
Page, along with former national security adviser Michael Flynn, and Trump’s former campaign manager Paul Manafort, had long-documented contacts with Russian operatives before and after they joined the Trump campaign. All of them have denied engaging in any untoward interactions with the Kremlin on behalf of the campaign
Attorney General Jeff Sessions has come under scrutiny in recent months for his previously undisclosed talks with former Russian ambassador to the US Sergey Kislyak — meetings he denied during his Senate confirmation hearings earlier this year. Sessions later amended the record to show that he did indeed meet with Kislyak on several occasions.
The Russia investigation is ongoing, with special counsel Robert Mueller leading the FBI's inquiry into Russia's meddling in the 2016 US presidential election.
The S&P 500 has soared since President Donald Trump's election victory on November 8. But his biggest campaign donors have been largely left out in the cold.
A group of Trump's 24 biggest financial backers has seen their collective net worth rise by just 0.6% since the election, while the S&P 500 has climbed more than 14%, according to a report from Bloomberg's Brendan Coffey and Jack Witzig.
Those donors — all members of Bloomberg's Billionaires Index— forked over more than $29 million combined to Trump's campaign and affiliated political groups, Coffey and Witzig calculated using federal records.
The underperformance relative to the broader stock market stems from the group's outsized exposure to the energy and retail sectors, they found.
The energy group has come under pressure as oil prices have dropped 10% year-to-date, spurred by a persistently high level of stockpiles worldwide. While there's been speculation that oil prices will rebound, that hasn't yet come to fruition. Going forward, oil prices will at least partially hinge on economic data, which, when positive, raises expectations for energy demand.
Meanwhile, the retail space has been marred by more than 6,300 store closings so far in 2017. The closings have stemmed from years of declining sales and Amazon's ability to disrupt everything in its path, which has put everything from the grocery stores to sporting good retailers on notice.
Bringing up the rear since the election is Harold Hamm, the chairman and CEO of oil producer Continental Resources. His net worth has plunged by almost 27% since November 8, Bloomberg data show.
That's not to say every one of Trump's billionaire campaign benefactors has struggled. The president's richest donor is casino titan Sheldon Adelson, who's seen his wealth grow by 4% since the election.
The best-performing member of the group assessed by Bloomberg has been Thomas Peterffy, the founder, chairman and CEO of Interactive Brokers Group. He's outpaced the S&P 500, adding 20% to his net worth.
In over 210,000 games of Major League Baseball, there have only been 23 perfect games, and fans haven't seen one since Felix Hernandez in 2012.
On Wednesday night, it felt like the Dodgers Rich Hill was going to be No. 24. The Dodgers have been rolling with one of the best regular-season stretches in MLB history, and Hill was rolling on Wednesday night, perfect through seven innings with the game still tied 0-0.
In the eighth inning Josh Bell hit a shot toward second base that for a moment felt like the end of Hill's pursuit of perfection, only for Chase Utley to make one of the best catches of the year to preserve the potential feat.
Rich Hill...still perfect.— Sports Illustrated (@SInow) August 24, 2017
Chase Utley...still perfect. pic.twitter.com/7DTlLC9rF5
At this point, it felt like perfection was written in the cards for Hill. But in the ninth inning, things would sadly begin to fall apart.
An error by third baseman Logan Forsythe allowed the Pirates their first baserunner of the game and broke up Hill's chance at the history books. But he still had a no-hitter going, and was able to get out of the inning and send the game to extra innings still tied at zero.
The Dodgers would again fail to put up a run in the top of the tenth, and Hill, with only 95 pitches thrown, took the mound again in the tenth to see if he could keep the magic going and maybe become one of the few men in history to throw an extra-inning no-hitter. Unfortunately, Josh Harrison, the first batter he faced, sent a 2-1 pitch over the left field fence just out of reach of Curtis Granderson.
Rich Hill would finish the game with a line of 9.0 innings pitched, 10 strikeouts, 1 hit, 1 run... and a loss.
It's still an impressive line, but when you consider how close he was to perfection, it's tough to imagine a worse way to lose. Instead of going down in history as the 24th pitcher to ever be perfect in the majors, he made a much more unfortunate historical stat. According to baseball statistician Ryan Spaeder, Rich Hill is the first pitcher in history to lose a no-hitter on a walk-off home run.
The Dodgers and Pirates will face off again on Thursday.
ESPN president John Skipper sent a memo to staff Wednesday to respond to criticism that came after the network's decision to remove a football announcer named Robert Lee was from an assignment at the University of Virginia because of his name.
The move was made in the wake of the recent protests in Charlottesville, but conservative commentators criticized ESPN for what they deemed political correctness gone awry, in part because Lee is Asian-American.
Clay Travis of the sports website Outkick the Coverage broke the news Tuesday in an article with the headline "MSESPN Pulls Asian Announcer Named Robert Lee Off UVa Game To Avoid Offending Idiots.""MSESPN" is a reference to what critics view as ESPN's liberal bias along the same lines of MSNBC.
A statement from an anonymous ESPN executive said the decision was simply made to avoid Lee becoming the subject of "memes and jokes and who knows what else."
Skipper went further in explaining the decision, saying it was made by a production staff outside of Bristol, that Lee had expressed concern with the assignment, and blaming the hoopla over the decision on 'someone with a personal agenda.'"
Here is the memo, via Brian Stelter of CNN:
"Given the amount of media attention being generated by one of the countless, routine decisions our local production teams make every day, I wanted to make sure you have the facts. There was never any concern — by anyone, at any level — that Robert Lee's name would offend anyone watching the Charlottesville game.
"Among our Charlotte production staff there was a question as to whether — in these divisive times — Robert's assignment might create a distraction, or even worse, expose him to social hectoring and trolling. Since Robert was their primary concern, they consulted with him directly. He expressed some personal trepidation about the assignment and, when offered the chance to do the Youngstown State/Pitt game instead, opted for that game — in part because he lives in Albany and would be able to get home to his family on Saturday evening.
"I'm disappointed that the good intentions of our Charlotte colleagues have been intentionally hijacked by someone with a personal agenda, and sincerely appreciate Robert's personal input and professionalism throughout this episode."
The person with a "personal agenda" is likely a reference to Travis, who has often been critical of ESPN.
The Virginia Cavaliers' September 2 game against William & Mary, which Lee was set to broadcast, will be the first game in Charlottesville, Virginia, since a white nationalist rally was held there earlier this month to protest the city's decision to remove a statue of Confederate Gen. Robert E. Lee.
Here are the winning numbers for Wednesday night's Powerball jackpot, which hit $700 million:
6, 7, 16, 23, 26, and Powerball number is 4.
The jackpot is the second-largest in US history. The record was in 2016 for a $1.5 billion jackpot.
Powerball drawings happen every Wednesday and Saturday at 10:59 p.m. There have been 21 consecutive drawings without a winner— the latest was on Saturday, August 19.
If no one wins, the next Powerball drawing will be on Saturday.
If you won tonight's Powerball drawing, try to resist the urge to tell everyone you know — there will be many people who want a piece of the pie. Hire a lawyer who can help you figure out how to claim your winnings and protect your privacy.
You'll have a choice to claim your winnings in the form of a lump sum or an annuity. The annuity is a series of 30 annual payments, which increase by 5% each year.
Choosing the lump sum might sound tempting, but do note that you'll get less than the face value of the prize. The current value of the cash payout is $443.3 million.
Business Insider's resident personal finance expert, Lauren Lyons Cole, recommends taking the series of payouts, as opposed to the lump sum.
"Most people would do better to choose the annuity rather than the lump sum," she writes. "Unless you're supremely good with money and already have a team of advisers who have proved themselves over time, the annuity is the more cautious choice."
The billionaire Mark Cuban agrees.
There have been plenty of stories about lottery winners who have seen their lives fall apart after the cash windfall. And some research shows that lottery winners often have a hard time finding enjoyment in life after winning.
SEE ALSO: 21 lottery winners who blew it all
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On Wednesday night Dodgers pitcher Rich Hill lost his bid for a perfect game and subsequently his chance at a no-hitter in one of the most heartbreaking games of baseball you'll ever witness. It will surely go down as one of the greatest pitching performances in a loss in the history of baseball.
But before the night turned tragic, Hill had some help, most notably from veteran second baseman Chase Utley, whose flash of the glove in the eighth inning would save Hill's perfect game for the moment.
With no outs in the inning, Pirates first baseman Josh Bell hit a shot toward second that for a moment felt like the end of Hill's pursuit of perfection, only for Utley to make a diving catch that would have gone down as the defining defensive moment of this game had the perfect game come to fruition.
As the announcer's call goes: "CHASE UTLEY... OH MY GOODNESS... He saved the day for now."
For an instant after Utley came down with the ball, it felt like perfection was simply in the air, and inevitable outcome for one of the hottest teams in regular season baseball history.
Sadly for Hill, Utley, and the rest of the Dodgers, the announcer's call would prove foreboding. Hill would lose the perfect game in the ninth after an error by third baseman Logan Forsythe, and give up the no-hitter and the win in the tenth inning with a walk-off to Josh Harrison.
Rich Hill had pitched nine no-hit innings only to take the loss, and Utley left the game with a defensive highlight that will go unremarked in the history books besides a possible spot on tomorrow's SportsCenter Top 10.
The Dodgers and Pirates will face off again on Thursday.