Samsung Electronics Co. agreed with Alibaba Group Holding Ltd. s financial-services affiliate to cooperate on mobile payments, as the world s largest smartphone-maker looks to expand its presence in China, a market where it has struggled in recent years.In a statement, the companies said Samsung s mobile payment service, dubbed Samsung Pay, will work with Alibaba affiliate Ant Financial Services Group s Alipay, which has more than 450 million active registered users.For Samsung, which is touting Samsung Pay as a selling point for its premium devices, a tie-up with Alipay could give its service wider reach in a market it is desperate to restore its fortunes in.For Alibaba, working with the world s largest smartphone maker could help it expand overseas, a priority for the company.Last month, Alipay launched in Europe, and earlier this year, Alipay signed a deal with Uber Technologies Inc. to allow Chinese users to pay for rides with Alipay while traveling outside mainland China.While Alipay is mostly used for settling online transactions, it is increasingly being accepted by brick-and-mortar retailers and restaurants around China.
This new generation of skyscrapers range from 50 to 100 stories, are almost uniformly filled with luxury housing—and some are wedged into the city with astoundingly tiny 45-feet-wide footprints.A new exhibition at the Skyscraper Museum in New York looks at how the slender movement came to be: from the air rights laws that made them possible, to the design innovations that allow architects to build such spindle-thin towers.In the last few years, newer buildings have been able to achieve even more jaw-dropping ratios.The Nordstrom Tower going up on 57th Street has a ratio of 1:23!From left to right, the grey buildings are: Shanghai World Financial Center, CTF Finance Centre, One WTC, Lotte World Tower, Mecca Royal Clock Tower, Shanghai Tower, Burj KhalifaAlthough some of these towers are going to be among the tallest in the US—depending on who you ask, the Nordstrom Tower will just barely top 1 WTC for Western Hemisphere bragging rights—they re still in the shadows of the world s tallest structures.One can only imagine that as advances in engineering and elevator tech progress, we ll soon be seeing buildings as tall as the Burj that are only a handful of yards wide.
View 298896331993SINGAPORE — Twitter is searching for a team of data scientists to be based in Singapore, in its first effort to create such a team outside of the U.S.Twitter's Linus Lee, who will be moving from Twitter's San Francisco headquarters to Singapore to head the team here, told Mashable the team will be between five and 10 strong, and will focus squarely on growing markets outside the U.S. — where 80% of the company's users now are.Lee, a Singaporean who left the island state 10 years ago for undergraduate studies at Stanford, was one of Twitter's early data science hires four years ago.In the time since he's joined, Twitter's data science teams have multiplied to encompass a business-focused team — that advises the finance side on trends — and other teams within engineering, although Lee wouldn't specify how many data scientists Twitter now has.The new Singapore team will also be steered in this direction, and will focus on how users in emerging markets with less capable devices on slower networks act on the network.Based on user bounce rates shown by the data, the Twitter app now adjusts for slow connections and downgrades images or videos, to help the user experience along, Lee said.The topic has been a pain in its side in recent years, and the firm has started to tinker more with the fundamental experience in hopes of jumpstarting a stalled user base.
San Francisco-based Tally Technologies raised $15 million in Series A venture funding to launch an app that promises to help people maintain good credit while avoiding fees, charges and other credit card affiliated pains.According to Tally CEO and co-founder Jason Brown, the company has been operating in stealth for longer than a year and has been testing its service with beta customers for about three months.Here s how the Tally app works, Brown explained: Users can scan all of their personal credit cards into Tally, go through a brief credit score check, then authorize the startup to pay those bills from a Tally-issued line of credit.Tally Technologies Inc. co-founders L-R Jasper Platz and Jason Brown.Tally will also need to raise institutional capital from which it can offer lines of credit, so it needs to prove its customers are a good credit risk and develop partnerships in the finance industry.As a firm, Shasta shied away from investing in alternative, or peer-to-peer lending platforms like Lending Club and Prosper, which are now under scrutiny and facing serious growth challenges.
New software connects the Pavlok wearable to a user's bank account to shock them if they spend too muchIf overspending is one of your greatest vices, this wristband that helps break bad habits could be your saviour.A British company has teamed up with Pavlok, which gives users electric shocks to help them break bad habits, to trigger the device when users are spending too much money."This is all about giving customers the choice to control how they spend money," said David Webber, the chief executive of Intelligent Environments.If a user exceeds their self-imposed spending limit and their bank balance drops below a pre-determined threshold, Interact IoT will drop the heating down to a temperature also pre-determined by the user.Intelligent Environments provides software to banks and financial services companies that underpins their mobile apps.The company's clients include the Bank of Ireland, Sainsbury's Bank, Lloyd's Bank and Toyota's financial services business.
Minister for the digital economy Ed Vaizey says UK tech has the infrastructure and skills but not enough money – but that s not the government s fault, he claimsMinister for the digital economy Ed Vaizey claims the European equivalent of Silicon Valley has already been created, it just needs more capital investment to get up and running successfully.When we talk about creating Silicon Valley in the UK or indeed Europe, I think we ve created it, he said, adding the caveat that this technological utopia in terms of groundwork and talent – not finance.I think most people you talk to will tell you the access to capital situation is far different to what is what 5 years ago but it does still lag behind the US, he continued.It s a really important part of our growth strategy, said Gavin Mee, area vice president for enterprise at Salesforce.What we really bring is that we bring a lot of access for those companies to our ecosystem and our partner environment.It provides a very porous relationship with the government, so tech companies can raise their concerns and have a proper dialogue with the government about issues where we can bring in potential reforms.
"The more we learn about the balance sheets of Americans, it becomes quite alarming," said Caroline Ratcliffe, a senior fellow at the Urban Institute focusing on poverty and emergency savings issues.Lack of savings can lead to homelessness, or other problems."The challenge for many often come from economic forces beyond their control such as a dip in the stock market that threatens their job or an unexpected medical bill, risks that have shattered the confidence of most in the broader U.S. economy.Thirteen percent would skip paying other bills, and 11 percent said they would likely not pay the bill at all.The AP-NORC results also correlate with a 2015 study by the Federal Reserve in which 47 percent of respondents said they either could not cover a $400 emergency expense or would have to sell something or borrow money.In the poll, 21 percent of Americans say they would strongly consider the option of putting the unexpected $1,000 bill on a credit card to be paid in full when their statement came due.
Its primary demographic is young people with too much money and a deep, existential, bordering-on-bonkers affinity for technology.People in suits going to either finance jobs or job interviews; people in hoodies going to their job as CEO of something; this one guy I saw in a bathing suit at 7:15 in the morning.That s saying something, too: hoverboards came and went, there are countless versions of the self-balancing unicycle, and you can Razor your way around town for a lot less than a grand.Boosted is smart to not go after exciting, woah-brah kinds of updates.The company wants you to be able to roll out of bed, throw on your shoes, blearily press down the trigger with your index finger, and let your board drag you to work the same way a BART train or Uber Pool might.And increasingly, it s a board they can get on as well.
On Wednesday, before the stock market opened in New York, Goldman Sachs analyst Patrick Archambault upgraded shares of Tesla.Archambault put a "Buy" rating and a $250 a share price target on the stock because of what he sees as the market's failure to "fully capture the company's disruptive potential."On Wednesday, after the market closed in New York, Tesla said it would sell $2 billion worth of stock, $1.4 billion of which would be issued by the company.Tesla CEO Elon Musk would sell $600 million worth of stock to meet a tax obligation related to his buying even more Tesla stock."This would, however, be a breach of what the banks call a "Chinese Wall," or a separation of various divisions that could come into conflict one another.Research and investment banking are examples of divisions that could create a conflict of interest and between which there exists said wall — meaning that research analysts don't know who investment banks are doing deals with and investment banks don't know what analysts think of companies outside of published research.In an email to Business Insider, Goldman Sachs said: "Our Research is independent.As a result, investors buy.This report is delivered just as Goldman's sales force is about to hit the phones to push $1.4 billion of those very shares for a nice fat fee for Goldman and a dilutive hit to the shareholders.So then there are investors who, based on Archambault's note, bought the shares in the morning only to learn by that afternoon that Goldman would have a hand in diluting their newly acquired ownership stake.And the popular view says Goldman knew this was going to happen the whole time.There's an additional potentially uglier mess if you also think Goldman clients were told by Goldman sales-trader types not to buy the stock on the upgrade: What did they know, and so on.But analysts aren't really the problem hereA big problem here is that Goldman can't save itself from itself.Publishing a positive opinion on a company Goldman was about to do investment-banking business with — in order to secure more fees from said business — is a very public hill to die on.The firm can't have some sort of compliance middleman stop the publishing of Archambault's note without the Chinese Wall effectively coming down.Here's the conversation you can't have:Patrick, you can't publish that note upgrading Tesla until after the market close on Wednesday.Why?You just can't.Obviously, at this point, Archambault would know something is up, and considering everyone knew Tesla was going to tap the capital markets to raise cash — Elon Musk said as much on the company's most recent earnings call — Archambault would know it was this thing.And since his note deals extensively with Tesla's likely capital needs going forward — Archambault estimated Tesla needed to raise $1 billion, about $400 million less than the company tapped the market for — the whole piece of work is compromised.But I guess to my mind this all just seems like something that ought to be avoided, right?We're about five years past Occupy Wall Street and almost eight years past the collapse of Lehman Brothers.NOW WATCH: THE STORY OF GOLDMAN SACHS: From foot peddlers to a powerhouseLoading video...
John McAfee, anti-virus software founder, current US presidential candidate, and one-time murder suspect, recently announced his involvement with a company called MGT Capital Investments.Hmmm.But it s still much more valuable than it was a few weeks ago.Google FinanceAccording to a press release last week, McAfee joined MGT as Executive Chairman and Chief Executive Officer.By 2012, it had switched to acquiring intellectual property for online gaming platforms, and now is focused on acquiring, developing and monetising intellectual property assets.And according to Michael Antonelli, an institutional equity sales trader, the stock surge shows how a press release can have drastic effects on a share price—even if it doesn t last long.
MoreApple CEO Tim Cook waves as he attends a talk in Beijing October 23, 2014.China Daily/via REUTERS/File PhotoBEIJING Reuters - The head of China's industry and technology regulator stressed Chinese users' security in a meeting with Apple Inc's chief executive in Beijing, as the U.S. tech titan stumbles in its biggest offshore market.China's ruling Communist Party has also embarked on a campaign to promote domestic technology, which it sees as more secure, and reduce the country's reliance on foreign tech products, especially in critical industries such as finance."I hope Apple can expand its business in China, deepen its cooperation in research and development and industrial supply chains, and provide a convenient and secure user experience for Chinese consumers," said Miao Wei, the head of China's Ministry of Industry and Information Technology MIIT ."China has set a clear precedent with nearly every other tech company that operating in the country comes with certain strings attached, including significant investment in China's tech sector," said Ben Thompson, an analyst who writes at"Apple has largely escaped this requirement, thanks to its appeal to customers instead of big business, but it seems likely the Chinese government is trying to end that exemption."
BSIP via Getty ImagesCOPENHAGEN Thomson Reuters Foundation - Countries which fail to invest in young women s health will be left behind because the underdeveloped brains of their children will not be equipped to compete in an increasingly complex, digital world, the head of the World Bank said on Wednesday.He said when finance ministers approach the World Bank for loans they say they are not going to use the money for women and children, but for hard infrastructure like roads and energy.Kim said brain scans showed that young children who don t have sufficient nutrition or stimulation in their early years have fewer neural connections which impacts their cognitive potential.For every country in the world looking at a future that s going to ... require huge amounts of digital competence we are now saying to these governments how are you going to walk into the future with 45 percent stunting.He said investing in women s health, education and economic empowerment was crucial for ending global poverty and the World Bank would be making special investments to address the high numbers of girls dropping out in secondary school.Editing by Ros Russell; Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, which covers humanitarian news, women s rights, trafficking, corruption and climate change.
Image: PixabayAn 18-month review into antimicrobial resistance warns that superbugs will kill upwards of 10 million people a year by 2050, a frightening prospect that s being described as the antibiotic apocalypse.The golden age of antibiotics which the world has taken for granted for well over fifty years has ended.Indeed, infections that used to be easily treated, such as tuberculosis and gonorrhea, have reemerged a serious health threat.Individuals receiving organ transplants would have to rely on their own immune systems to prevent their bodies from rejecting donor organs.O Neill said this issue can no longer be ignored by politicians and the finance sector.He s hoping that leaders of the world will make it a top priority at the upcoming G20 meeting to be held in China this September.
Sunk-Cost FallacyIf you ve ever been in a bad relationship that lasted way too long, you ve probably dealt with the sunk-cost fallacy.There are some subtle ways sunk-cost fallacy sneaks into your everyday thinking, and it often leads to bad shopping decisions.Then, I calculate how much more I ll pay if I keep going.For example:Your monthly spending is more than your income, but you can t live without cable, restaurants, or super expensive coffee breaks.It might also help to incorporate a personal finance day into your schedule.Let s say you have a safe, set and forget investment portfolio, and a crazy investor comes along and wants you to give it all up and invest in his new fund instead.
John McAfee, anti-virus software founder, current US presidential candidate, and one-time murder suspect, recently announced his involvement with a company called MGT Capital Investments.Hmmm.But it s still much more valuable than it was a few weeks ago.Google FinanceAccording to a press release last week, McAfee joined MGT as Executive Chairman and Chief Executive Officer.By 2012, it had switched to acquiring intellectual property for online gaming platforms, and now is focused on acquiring, developing and monetising intellectual property assets.And according to Michael Antonelli, an institutional equity sales trader, the stock surge shows how a press release can have drastic effects on a share price—even if it doesn t last long.
In the weeks that followed, Tesla execs kept saying the reservations number is approaching 400,000 units, without revealing an exact figure.More information has been made available since, and it looks like Tesla has some 373,000 Model 3 reservations, well below that 400,000 mark.DON T MISS: Bionic eye restores man s vision after being blind for 40 yearsAccording to Electrek, the number comes from Tesla s recent SEC filing for its new capital raise that s needed to finance the Model 3 production program.Tesla said that as of May 15th, there are 373,000 Model 3 reservations after 8,000 reservations were canceled and Tesla removed 4,200, suspected to be duplicates from speculators.If we wanted to, we believe that we could further increase the number of Model 3 reservations with minimal effort, but believe it is better to guide customers to purchase products currently in production.Tesla wants to deliver up to 200,000 Model 3 by late 2017 and produce some 500,000 vehicles in the following year, including Model 3, Model S, and Model X.
Half a million Swedes suffer from incontinence and now, a research initiative in the area. Why are some men of urine leakage after prostate surgery, and others not? It is the subject of a scientific study in the fall kicks off under a newly established center for incontinence research. The center in Gothenburg will be the country's first of its kind and is linked to the one hundred people in various disciplines at the Sahlgrenska Academy. Hygiene and forest company SCA is helping to finance the investment which the researchers also will be studying risk factors for incontinence, how best to prevent the problems and how care can make life easier for patients and the many families affected. Get the news you're going to talk about in your Facebook feed - like Metro Sweden
Gusten Danielsson, Head of Finance Cellink receives the winner's diploma. The company sells both 3D printer biological material but also a product that they call biobläck, therefore, the material used to print human tissue. Business Angel Lena Apler, which we also wrote about earlier this week, chose to cast their votes elsewhere, namely the company My Services. It is extremely exciting medtech but I'm a bit crass, and more short-term in my thinking. My services have a model that I understand better and there is less risk, she said. Moreover, we have a product that we know works, says Gusten Danielsson, Head of Finance Cellink when Breakit talk to him afterwards.
Even after the sale, the number of shares of common stock held by Musk will increase, the company said.The net proceeds of the sale are going toward Tesla s ambitious goal of producing 500,000 cars annually by 2018.Ironically, Goldman Sachs is underwriting the offering, and just hours earlier the firm upgraded the stock to a buy rating, signaling that Goldman Sachs felt the stock was undervalued and worth purchasing.Stocks tend to move on these new ratings issued by banks, and Tesla shares were up 3 percent on the day.As part of its earnings report, Tesla also said it still plans to deliver 80,000 to 90,000 new vehicles this year.Shares of Tesla dipped slightly on the news, though the stock has certainly had a rocky year.
Warren Buffett's decision to back a bid for Yahoo might seem to violate some of the billionaire investor's cardinal rules: Don't invest in tech, and don't touch companies whose businesses you don't understand.As Bloomberg reporter Noah Buhayar tells Deal of the Week host Alex Sherman, though, Buffett no doubt extracted a low-risk deal to help finance the bid for Quicken Loans founder Dan Gilbert.Plus, Bloomberg Gadfly columnist Brooke Sutherland offers her thoughts on Gannett's improved hostile offer for Tribune, following up on last week's episode.SoundCloud: 26: Why Warren Buffett's Bet on Yahoo Deal Probably Makes Sense by Bloomberg