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[
"Matt Egan"
] | 2016-08-26T19:36:31 | null | 2016-08-26T12:23:16 | EpiPen price hike outrage could speed FDA approval of an alternative by Teva as early as 2017. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Finvesting%2Fepipen-price-hike-generic-alternative%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825082120-epipen-780x439.jpg | en | null | EpiPen outrage may fuel cheap generic in 2017 | null | null | money.cnn.com | Help for parents outraged by skyrocketing EpiPen prices could be coming as soon as next year.
A generic alternative for the lifesaving allergy treatment is being developed by Teva Pharmaceuticals (TEVA). The company has indicated the generic treatment may arrive as early as next year, creating a cheaper alternative to EpiPen, which has cornered an estimated 94% of the market.
In fact, some Wall Street analysts believe the national outcry over the 400% increase in EpiPen prices may ultimately speed up the FDA approval process for an affordable replacement.
"We suspect FDA will be under pressure to enable [a] more competitive market," Bernstein analyst Aaron Gal wrote in a research report on Thursday.
Gal predicted the FDA's review of Teva's alternative may be "accelerated." He added: "Questions of 'what is close enough' may be viewed differently."
The FDA declined to comment specifically on the generic EpiPen approval process, citing agency policy. However, the FDA noted that it automatically speeds up review of first generic drug applications, while ensuring these drugs are as "safe and effective as their brand name counterparts."
Teva's generic drug was delayed after the FDA identified certain "major deficiencies" in February. The exact cause of the agency's concern is unknown.
However, Teva directed CNNMoney inquiries to the company's previous statements that the launch could still come as early as 2017. Teva declined to comment specifically on the controversy.
Related: EpiPen CEO: Blame the 'broken' system, not me
Irina Koffler, an analyst at Mizuho, said the key will be how serious the issue was that delayed Teva's FDA application.
"If it is something easily correctable, then I'm sure FDA can allocate additional internal resources to expedite the review," she said.
On the other hand, a more complex problem may take time. And in the end, the FDA's first priority is safety, not cost.
The national uproar has clearly changed the landscape since the FDA last looked at Teva's generic candidate. Political pressure is building.
Democratic presidential nominee Hillary Clinton this week called on EpiPen maker Mylan (MYL) to immediately cut the "outrageous" price of the treatment. A bipartisan group of five U.S. senators, in a letter to the FDA this week, pressed the agency on whether any "barriers" exist to approving safe alternatives to the EpiPen. The lawmakers also asked the FDA if it has looked into over-the-counter EpiPen alternatives.
"This is a big deal," Evercore analyst Umer Raffat said about the letter to the FDA.
Still, Raffat and some other analysts believe a generic EpiPen may not be approved until early 2018 -- or later. "I think we're some time away from Teva generic," he said in an interview.
Related: AIDS drug that spiked 5,000% is STILL pricey
The EpiPen controversy, fueled by a grassroots social media campaign by parents, centered on how prices have soared to about $600, compared with below $100 in 2009.
EpiPen maker Mylan responded on Thursday by providing savings cards worth $300 to patients who have to pay full price out of pocket. Heather Bresch, the embattled Mylan CEO, attempted to shift the blame to a "broken" health care system she said "incentivizes higher prices."
However, Bernstein's Gal notes that Mylan jacked up prices in November, just a month after Auvi-Q -- EpiPen's main rival -- was pulled off the market. Mylan then raised prices another 15% in May, translating to a roughly 27% year-over-year price hike.
"With competitors out of the market, Mylan was in a position to price up EpiPen, which they did," Gal wrote. | http://money.cnn.com/2016/08/26/investing/epipen-price-hike-generic-alternative/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/a2697b147f22aa576378d426ad0ed5733cd25b0d13b001ab294c6c35b78b360c.json |
[
"Lisa Fischer",
"Ryan Smith"
] | 2016-08-30T17:39:30 | null | 2016-08-30T01:15:25 | The European Commission has ordered Ireland to recover unpaid taxes, plus interest, from Apple dating back to 2003. CNNMoney's Samuel Burke reports. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Ftechnology%2F2016%2F08%2F30%2Fapple-ireland-tax.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830125653-apple-ireland-tax-00020915-780x439.jpg | en | null | Apple's $14.6B tax bill explained | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/technology/2016/08/30/apple-ireland-tax.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-30T00:00:00 | money.cnn.com/1a0458fdadd8756b8b1e72ba061fc7ae93a1ed1708913226ad457f0009c4174e.json |
[
"Stephanie Busari",
"Alanna Petroff"
] | 2016-08-30T17:37:53 | null | 2016-08-30T12:31:20 | Facebook founder and CEO Mark Zuckerberg is getting serious about adding new 'friends' in Africa by visiting Lagos, Nigeria, to meet with local startup founders and developers. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Ffacebook-mark-zuckerberg-africa-nigeria-lagos%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830162603-mark-zuckerberg-africa-nigeria-lagos-kids-780x439.jpg | en | null | Mark Zuckerberg makes first-ever visit to Sub-Saharan Africa | null | null | money.cnn.com | Mark Zuckerberg is getting serious about adding new "friends" in Africa.
The Facebook founder visited Sub-Saharan Africa for the first time on Tuesday, touching down in Lagos, Nigeria. He met with local businesses and developers in an effort to understand how Facebook (FB, Tech30) could "better support tech development and entrepreneurship across Africa," the company said in a statement.
His visit included a trip to a Yaba, known as the Silicon Valley of Nigeria, where he toured a coding camp for kids and met with about 50 local startup founders and developers at CcHub, a local innovation center.
Zuckerberg told CNN: "There's so much energy and so much potential here. I just want to walk around and meet folks."
As Zuckerberg walked down the street, he drew loud cheers from passersby.
Zuckerberg has been increasingly involved in African initiatives this year.
In June, his foundation -- the Chan Zuckerberg Initiative -- made a multi-million dollar investment in Andela, a two-year-old startup that trains African software developers and gives them full-time roles at international companies. Andela works out of headquarters in Lagos and Nairobi, Kenya -- so Zuck paid a visit to the Lagos office too.
Andela's director Seni Sulyman said it was a thrill to welcome Zuckerberg.
"Mark's visit demonstrates to all Nigerian developers and entrepreneurs that they've caught the attention of the tech world, and they are capable of succeeding on a truly global level," Sulyman said in a written statement.
Related: Zuckerberg gives Pope Francis a drone
Zuckerberg has also put his weight behind an initiative called "Free Basics," which provides free Internet access to cellphone users in under-served countries, including Zambia, Tanzania and Kenya.
It runs in more than 20 African countries and recently launched in Nigeria.
The "Free Basics" app -- which is run by Facebook's Internet.org unit -- allows cellphone users to access certain types of information related to areas like health care and employment.
However, the app is not without controversy. India's telecoms regulator blocked the service in February, saying providers must charge the same price for all content.
Critics have also argued that the program violates the central tenets of net neutrality, which stipulate that all Internet content and users should be treated equally. Cherry-picking free content isn't considered fair or right, according to the critics.
Late last year, Zuckerberg and his wife Dr. Priscilla Chan publicly pledged to donate billions of Facebook shares to fund projects and charities that advance human potential and promote equality though their Chan Zuckerberg Initiative. | http://money.cnn.com/2016/08/30/technology/facebook-mark-zuckerberg-africa-nigeria-lagos/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-30T00:00:00 | money.cnn.com/535e078367c14a81c2b0408e341c52d92a0805070eb64914e52ab49f74085cc2.json |
[
"Alanna Petroff"
] | 2016-08-30T09:40:16 | null | 2016-08-30T05:13:07 | Here's what you need to know about the markets before you start your business day. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Finvesting%2Fpremarket-stocks-trading%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/140422133431-nyse-premarkets-042214-780x439.jpg | en | null | Premarkets: 6 things to know before the open | null | null | money.cnn.com | It's been smooth summer sailing in the markets this month.
But things could get choppy today.
Here are the six things you need to know before the opening bell rings in New York:
1. Biting into Apple: The European Commission will demand Tuesday that Ireland recover unpaid taxes dating back many years from Apple, according to multiple media reports. A spokesperson declined to comment but the Commission has scheduled a news conference for 6 a.m. ET with its chief antitrust official.
The EU watchdog has been probing the tax arrangements of Apple (AAPL, Tech30), Amazon (AMZN, Tech30) and Starbucks (SBUX) in European countries over concerns the firms were getting a special deal from governments hoping to attract companies.
Apple has already warned that the investigation could force it to pay a decade's worth of back taxes to Ireland.
Related: Apple's next iPhone will likely be unveiled Sept. 7
2. Bitter sweet: Hershey (HSY) stock plunged in extended trading after Cadbury owner Mondelez (MDLZ) said it was abandoning attempts to acquire the iconic American chocolate maker.
In June, Hershey rejected a $107-a-share takeover offer from Mondelez. The offer represented a 10% premium to Hershey's closing price at the time.
The two companies continued talking, but Mondelez said merger talks are now over.
3. Aviation observations: There's a lot happening in the airline industry right now.
Shares in American Airlines (AAL) were looking soft in extended trading after the firm said its president, Scott Kirby, was switching companies to work at United Continental (UAL).
United said Kirby will take over "operations, marketing, sales, alliances, network planning and revenue management" at the airline.
In a letter to employees, United CEO Oscar Munoz said this "will allow me to sharpen my own focus as CEO on the core mission of driving United's overall strategy, business innovation and financial performance."
Southwest Airlines (LUV) is also in the spotlight after it reached a tentative compensation deal with 8,000 unionized pilots following four years of talks.
The Southwest Airlines Pilots' Association said Monday that the union reached an "agreement in principle" with the airline that would give raises to about 8,000 pilots.
Related: Fear & Greed Index
4. Ones to watch -- ITT, ARM, retailers: Shares in the for-profit educational provider ITT Educational Services (ESI) could take another big fall Tuesday after it announced it had stopped enrolling all new students.
This comes just days after the U.S. Department of Education announced it was banning the institution from enrolling new students that use federal financial aid. It's also stepping up oversight of the company because of concerns about "organizational integrity, financial viability and [its] ability to serve students."
Shares in the company have lost more than 80% of their value in the past week.
ARM Holdings (ARMH, Tech30) shareholders are voting Tuesday on SoftBank's (SFTBY) major takeover deal.
Softbank has offered £24.3 billion ($32 billion) in cash for the British tech firm, making it the biggest foreign takeover by a Japanese company.
A number of U.S. retailers are reporting earnings ahead of the bell. Get ready for market reaction to results from Abercrombie & Fitch (ANF), Christopher & Banks (CBK) and DSW (DSW).
5. Economics: The main U.S. economic reports out today will focus on housing and consumers.
The S&P Case-Shiller Home Price Index for June comes out at 9 a.m. ET, giving insight into the state of the U.S. real estate market.
Then the Conference Board will release consumer confidence information for August at 10 a.m. Similar data released in Europe showed consumer confidence dipped in the eurozone in August.
And in the U.K., new data from the Bank of England shows mortgage approvals sank in July following the country's vote to leave the European Union. Mortgage approvals for home purchases were down 11% last month compared to the average of the previous six months.
Related: CNNMoney's Tech30
6. Global markets overview: U.S. stock futures are holding steady.
European markets are mostly positive in early trading, though mining companies are weighing on the main U.K. markets. Asian stocks are generally fairing well.
On Monday, The Dow Jones industrial average gained 0.6%, while the S&P 500 added 0.5% and the Nasdaq inched 0.3% higher. | http://money.cnn.com/2016/08/30/investing/premarket-stocks-trading/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/f3656a6d7949e98305cf9c8ac5bb8b86b9dc8d20d67abfed997222bf811b8b87.json |
[
"Alanna Petroff"
] | 2016-08-30T09:40:23 | null | 2016-08-24T11:59:31 | The U.K. is preparing to split from the European Union, which means about $1.3 trillion in trading relationships will have to be reset. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F24%2Fnews%2Feconomy%2Fuk-global-trade-european-union-brexit%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160817153630-uk-trade-divorce-780x439.jpg | en | null | U.K. world trade is worth $1.3 trillion. Will Brexit hurt or help? | null | null | money.cnn.com | Get ready for some major divorce drama.
Britain is preparing to split from the European Union, a separation that will affect U.K. trade around the world.
As it stands, the U.K. exports and imports goods and services worth just over £1 trillion ($1.3 trillion) a year. So there's clearly a lot at stake.
Here's why Brexit will affect global trade, not just in Europe:
As an EU member, the U.K. trades freely with the other 27 EU countries. That two-way flow was worth £513 billion ($680 billion) last year, just over half the U.K.'s total. A new EU-U.K. deal will now have to be struck.
But it doesn't end there. The EU manages preferential trade deals with nearly 60 other nations, including Switzerland and Turkey, on behalf of its members. The U.K. will have to seek new ties with those countries.
For the rest of the world -- such as the U.S. and China -- the U.K.'s trading relationship is based on global standards overseen by the World Trade Organization. The problem: The EU manages Britain's WTO membership.
So when the U.K. leaves the EU (in 2019 at the earliest), it will have to reset all these relationships by renegotiating trade terms with the EU, the WTO and every other partner. This is likely to take several years.
WTO director general Roberto Azevedo, along with many others, has warned that it will not be a simple process.
"Key aspects of the EU's terms of trade could not simply be cut and pasted for the U.K.," he said, according to the text of a speech he made in June in London, ahead of Britain's EU referendum.
Trade won't stop if the U.K. exits the EU without having new deals in place, but it could slow and become more costly, potentially damaging British jobs and companies.
Azevedo says this could cost British exporters up to 5.6 billion pounds ($7.4 billion) each year in duty payments -- and that's without taking into account the impact on trade in services.
People who campaigned for Brexit say Britain will gain from setting its own trade rules. But just how much access to European markets the U.K. can retain, and under what terms, will be critical.
Related: Trade with China won't save Brexit Britain
The government was caught off guard by the Brexit vote on June 23, and is now trying to hire hundreds of trade negotiators by the end of the year to work on new deals.
It's also trying to build stronger ties with places like India and China. Trade with these two countries is comparatively small right now, worth just £72 billion last year.
The Institute for Fiscal Studies warned recently that even dramatic trade expansion with China over the next 15 years won't do enough to compensate for small losses to EU trade.
After the EU, the U.K.'s most important relationship is with the U.S., which is the biggest single country for British exports, taking 20% each year.
But ahead of the Brexit referendum, President Obama warned that a vote to leave the EU would put the U.K. at "the back of the queue" to negotiate a trade deal.
The EU is currently negotiating the Transatlantic Trade and Investment Partnership with the U.S. Talks began in 2013, though opposition to a deal has been growing. | http://money.cnn.com/2016/08/24/news/economy/uk-global-trade-european-union-brexit/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-24T00:00:00 | money.cnn.com/3744f4ae94cac6a4935595c7560becaed86159a6944119cec22c9b8bafee0b87.json |
[
"Heather Kelly"
] | 2016-08-26T13:46:29 | null | 2016-08-25T04:18:28 | A newly discovered exploit used on activists could take over an iPhone and turn it into a spying tool. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Ftechnology%2Fapple-iphone-hack%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825160202-iphone-hack-780x439.jpg | en | null | iPhone vulnerability used to target journalists, aid workers | null | null | money.cnn.com | One of the most significant iPhone hacks to date was outed with a simple text message.
Security researchers on Thursday announced they had discovered a new piece of iPhone malware that allowed attackers to see virtually everything on your iPhone. They traced the previously unknown spyware back to an Israeli-based company called the NSO Group. NSO openly sells software that it says can track a person's mobile phone -- and many of its clients are governments.
At the same time on Thursday, Apple (AAPL, Tech30) released a software update for iOS 9.3.5 that patches the vulnerabilities. The company recommends anyone using an iPhone update their iOS immediately. For users running the beta of iOS 10, the latest seed also patches the exploits.
Researchers said it appeared governments had used NSO's software to target journalists and human rights workers. They used fake domains to try and disguise themselves as legitimate groups like the Red Cross, news organizations, and large tech companies.
Human rights activist Ahmed Mansoor first received a suspicious text message on August 10. The next day he got another, this time with a link promising information on detainees in UAE jails. No stranger to hacking attempts, the well-known dissident forwarded the messages to a researcher at Citizen Lab in the University of Toronto's Munk School of Global Affairs.
Related: FBI director: We bought 'a tool' to hack terrorist's iPhone
Citizen Lab teamed up with mobile security company Lookout to investigate. Together they confirmed the discovery of an advanced piece of spyware that took advantage of three previously unknown iOS security holes. By clicking on the text link, Mansoor would have unwittingly installed the malware and allowed the sender full access to his communications.
The combination of the vulnerabilities, together known as "Trident," gives the attacker access to an iPhone's camera, microphone and location. It can intercept text messages and emails, download calendar and contact data, and see passwords stored in the iPhone's keychain. It can record phone calls and messages from WhatsApp and Viber, and access communication apps including iMessage, Gmail, Facebook, Skype, and Line.
"We were made aware of this vulnerability and immediately fixed it with iOS 9.3.5. We advise all of our customers to always download the latest version of iOS to protect themselves against potential security exploits," said Apple spokesman Fred Sainz in a statement.
Related: Hacker claims to be selling stolen NSA spy tools
NSO Group denied any knowledge of this specific hack.
"The company sells only to authorized governmental agencies, and fully complies with strict export control laws and regulations," NSO spokesman Zamir Dahbash said in a statement. "The agreements signed with the company's customers require that the company's products only be used in a lawful manner. Specifically, the products may only be used for the prevention and investigation of crimes."
--CNNMoney's Samuel Burke contributed to this report. | http://money.cnn.com/2016/08/25/technology/apple-iphone-hack/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-25T00:00:00 | money.cnn.com/041dfa628516ab8ff1aa6b362bd5a06998bbd13453e1d2bf90e2f69852080c0b.json |
[
"Matt Egan"
] | 2016-08-29T13:39:31 | null | 2016-08-29T08:37:46 | Competition is coming in the EpiPen controversy -- from Mylan itself. The company that makes EpiPen surprised analysts on Monday by announcing plans to launch a generic version of the allergy treatment at a 50% discount. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Finvesting%2Fgeneric-epipen-mylan-discount%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829090714-epipen-mylan-drugs-780x439.jpg | en | null | Under-fire Mylan to launch generic EpiPen for $300 | null | null | money.cnn.com | Responding to national outrage over high prices, Mylan announced plans on Monday to launch a generic EpiPen at a 50% discount to the branded version of the life saving allergy treatment.
Mylan (MYL) said the generic EpiPen will be "identical" to the branded product in terms of how the drug is made and how the auto-injector functions.
The surprise move is the latest attempt by Mylan to silence the uproar ignited by a more than 400% increase in EpiPen prices. The launch comes ahead of looming competition from Teva Pharmaceuticals (TEVA), which is hoping to launch a generic EpiPen of its own as early as next year, pending FDA approval.
Mylan said it plans to launch the generic version in "several weeks" at a cost of $300 per two-pack carton, compared with $608 for the branded EpiPen.
Mylan didn't specify what discounts -- if any -- it is offering on this $300 generic price. It's also not clear why consumers would buy the more expensive branded EpiPen if, as Mylan describes it, it's exactly the same as the generic.
The company didn't immediately respond to a request for comment.
Related: EpiPen CEO: Blame the 'broken' system, not me
Under pressure from angry parents and politicians last week, Mylan said it will provide instant savings cards worth $300 to patients who have to pay the full price for the drug out of pocket.
"We understand the deep frustration and concerns associated with the cost of EpiPen to the patient," Mylan CEO Heather Bresch said in a statement on Monday.
Like last week, Bresch again attempted to shift the blame away from the company and towards a health care system she has called "broken."
The "complexity and opaqueness of today's branded pharmaceutical supply chain" led Mylan to determine that "bypassing the brand system" was the "best option," Bresch said.
No matter who's to blame, Wall Street investors seem to like the latest move by Mylan. The company's stock rose 2% ahead of Monday's opening bell, continuing a rebound from the selloff triggered by the pricing controversy. | http://money.cnn.com/2016/08/29/investing/generic-epipen-mylan-discount/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/3041479c83bb1d3aaaaa49350ef7335569dc92a4609395a1af4b576c4299b82f.json |
[
"Charles Riley"
] | 2016-08-26T13:46:09 | null | 2016-08-26T02:46:41 | Netflix has responded to the launch of a North Korean copycat service called "Manbang" by changing its Twitter bio to read: "Manbang knockoff." | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Ftechnology%2Fnetflix-north-korea%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826110342-north-korea-netflix-780x439.png | en | null | Netflix jokes about North Korean knockoff 'Manbang' | null | null | money.cnn.com | Netflix doesn't appear to be taking its newest competitor very seriously.
The streaming video pioneer has responded to the launch of a North Korean copycat service called "Manbang" by changing its Twitter bio to read: "Manbang knockoff."
The riposte comes just days after famously reclusive North Korea announced its clone service, which delivers streaming video through a set-top box, according to a report on state-run Korean Central Television.
Manbang viewers won't enjoy quite the same range of programming as Netflix (NFLX, Tech30) customers, though.
Users of the North Korean network are able to access an entire week's worth of state television broadcasts, while some older programs and propaganda films are also available on demand.
The state TV report said that North Koreans would now "be able to see the country making a leap forward every day and every hour through the materials on Manbang."
Jun-Ok Gong, an early adopter who lives in Shinuiju, was also featured in the state TV report.
"Kids really love [Manbang]," she said. "They just used to read books from school but now they can look at the screen and understand what these animals and plants look like. I can see that their concentration levels have improved."
Related: A peek into North Korea's Internet
North Korea is one of the least connected places on the planet. Internet access is typically reserved for government officials, a few foreign ambassadors and outside assistance groups -- and those users are closely monitored.
Nearly all of the country's Internet traffic is routed through China.
Related: US Treasury cracks down on North Korea's money laundering
The real Internet is reserved for a select and trusted few. Everyone else in North Korea gets access to a national, walled-off intranet, a "pseudo Internet" available for public use called Kwangmyong.
That tiny network has only a few thousand websites, so users only see what the North Korean government wants them to see.
North Korea also has its own computer operating system. It's called Red Star, and it closely resembles an Apple product.
-- Stella Ko and Jose Pagliery contributed reporting. | http://money.cnn.com/2016/08/26/technology/netflix-north-korea/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/61540d736128e47bbbbfcb5233df1cedcbf1945c2900849c26f4a9d0ea09855a.json |
[
"Hope King",
"Sophia Yan"
] | 2016-08-26T13:46:19 | null | 2016-08-25T09:38:46 | A look at the smartphone brands Chinese consumers are favoring over global favorites Apple and Samsung. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Ftechnology%2Fapple-china-smartphone-rivals%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160823191042-chinese-smartphone-group-780x439.jpg | en | null | Apple who? Chinese consumers love these homegrown brands more | null | null | money.cnn.com | Apple is having a rough ride in China, where its main revenue-generating product -- the iPhone -- is facing increasingly fierce competition from homegrown tech companies.
Apple's (AAPL, Tech30) overall sales fell 33% in China in the second quarter, compared to the same period last year. One reason for the decline is the rise of domestic smartphone makers like Huawei, Oppo, Vivo and Xiaomi.
Together, the four brands account for more than 56% of the Chinese market, according to research firm IDC. Their popularity has pushed Apple (AAPL, Tech30) down to fifth place in IDC's ranking of the top smartphone vendors in China, with an 8% share of the market. Meanwhile, upstart Gionee, which offers phones for less than $100, could also soon be a real competitor, according to Strategy Analytics.
In many ways, Apple's own success is to blame for its current challenges in China. The iPhone design has spawned countless imitations, making it harder for the device to stand out. But it has also struggled to keep up with local rivals' marketing strategies that have helped drive consumer demand.
On Apple's latest earnings call, CEO Tim Cook attributed the its quarterly drop in revenue to China's economic slowdown and the company's stellar year there in 2015 -- a hard one to top.
Here's the lowdown on the homegrown companies that are giving Apple a tough time:
Oppo
After releasing its first smartphone in 2011, Oppo has surged to become the second biggest vendor in China and No. 4 worldwide.
Its sleek phones -- like the 5.5-inch F1s "Selfie Expert" and flagship R9 -- look a lot like the iPhone 6S Plus. They emphasize quick charging (five minutes for two hours of talk); enhanced selfie camera features (including a blemish remover); and a lower price point than most devices with similar specs.
Oppo's success comes down to a few key strengths: its presence in smaller and mid-sized cities, use of celebrities to promote its phones and highly specific marketing campaigns.
To keep growing, the company will need to start wrangling more affluent customers away from Apple and Samsung in bigger cities. "That is the next battlefield," said Nicole Peng, China director at tech research firm Canalys.
But that won't be easy. Apple has the strongest pull of any brand -- 40% of existing customers choose to stay with it even when they upgrade their phones, according to Canalys.
Related: This bendable smartphone comes with a catch
Vivo
Oppo and Vivo are direct competitors, but both companies were developed by Chinese consumer giant BBK Electronics, Peng said. That's why there are so many similarities in the way they market their products.
Vivo also uses celebrity product ambassadors and has a strong retail presence in smaller cities. Its stores are set up to make the customer feel relaxed and at home while they play with new devices.
"This is still a more convenient option for consumers living in [smaller] cities, as they can easily head to one of the physical shops for after-sale services," IDC says in its report.
As the race for market share amps up, Oppo and Vivo may band together to compete, according to Peng. But they're both doing fine on their own right now.
Vivo, whose newer products include the V3 and V3 Max, is currently the third ranked smartphone vendor in China. It trails Oppo in market share by a few percentage points.
Related: Your next smartphone could be from China
Huawei
By far the best known brand in China, Huawei is No. 1 in market share. It's third globally, behind Samsung and Apple.
The company just came out with a new line of Honor smartphones in China and the U.S. The Honor 8 is targeted to people who want a premium large-screen device for a mid-tier price.
Within China, Huawei has also advertised its devices based on very specific features. In the Huawei P9, for example, the big to-do has been over its dual-camera.
Like its competitors, Huawei has recently hired famous people to promote its products. But IDC analyst Xiaohan Tay has doubts about this strategy.
"Hiring celebrity endorsers may help increase numbers in the short-term, but this alone may not be sufficient to drive numbers in the long run," she writes.
Related: Huawei's Honor 8 is eye-catching Samsung Galaxy alternative
Xiaomi
Just like Apple -- a company to which it's often compared -- Xiaomi has seen its sales decline over the past year. According to IDC, Xiaomi now has less than 10% of the Chinese market, down from around 16% a year earlier.
The company built a lot of buzz in China by selling to customers directly online. Using flash sales as a promotion, products often sold out, which added to the perception of its popularity. But competitors quickly caught on to this business model and replicated it, says IDC's Tay.
"The hype for Xiaomi seemed to have died down recently," she says. "Their low-end Redmi products are the ones that make up the most of their shipments."
To try to combat the decline, Xiaomi has taken a page from its competitors' playbooks and started to hire celebrity endorsers and build physical retail stores.
A Xiaomi spokeswoman contested IDC's numbers about its performance, saying that reports from other firms like Strategy Analytics are "much closer" to the true picture. Still, the Strategy Analytics report also puts Xiaomi in fourth place after a steep drop in market share. | http://money.cnn.com/2016/08/25/technology/apple-china-smartphone-rivals/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-25T00:00:00 | money.cnn.com/a5615ec2660a55820dc00530101cbdf8b9a7f328df3611c94924c1ec524261c7.json |
[
"Lisa France"
] | 2016-08-26T13:56:14 | null | 2016-08-25T01:52:42 | HLN's "Dr. Drew" show has been canceled. The final episode will air September 22. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Fmedia%2Fdr-drew-hln-canceled%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_entertainment%2B%2528RSS%253A%2BCNNi%2B-%2BEntertainment%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825134252-dr-drew-cancelled-780x439.jpg | en | null | HLN cancels Dr. Drew show | null | null | money.cnn.com | It's a wrap for Dr. Drew Pinsky's show on HLN.
CNN executive vice president Ken Jautz announced Thursday that "Dr. Drew and I have mutually agreed to air the final episode of his show on September 22."
"Dr. Drew and his team have delivered more than five years of creative shows and I want to thank them for their hard work and distinctive programming," Jautz said in a statement. "Their audience-driven shows, in particular, were innovative and memorable TV. And Dr. Drew has been an authoritative voice on addiction and on many other topical issues facing America today."
It's the latest in changes at HLN, which is CNN's sister network.
In June the network announced that Nancy Grace would be ending her very popular show and leaving after a dozen years as one of HLN's biggest stars.
Related: Nancy Grace leaving HLN
"Dr. Drew," which according to its site "explores the behavior behind the headlines and addresses the fundamental issue, 'why we do what we do,'" never reached the heights of Grace's show.
Pinsky is well known for some of his other work including VH1's "Celebrity Rehab" and the syndicated radio show "Loveline."
"It has been a privilege working at HLN," Pinsky said in a statement of his own. "My executive producer Burt Dubrow and our outstanding staff and contributors were consistently exceptional. I am very excited to stay within the CNN Worldwide family as a contributor."
HLN will air reruns of "Forensic Files" and episodes of CNN originals in the "Dr. Drew" 7 p.m. ET time slot. | http://money.cnn.com/2016/08/25/media/dr-drew-hln-canceled/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_entertainment+%28RSS%3A+CNNi+-+Entertainment%29 | en | 2016-08-25T00:00:00 | money.cnn.com/ec9e54c89fd481cbd86738053130736a1ed9c499427c8ccc3b72bcbd45fc0c1d.json |
[
"Ivana Kottasova"
] | 2016-08-29T13:37:15 | null | 2016-08-29T08:38:48 | Talks on President Obama's free trade deal with Europe, the Trans-Atlantic Trade and Investment Partnership, have "de facto failed," a top German politician said. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Feconomy%2Fus-europe-free-trade-deal-ttip-dead%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829112346-stop-ttip-protest-780x439.jpg | en | null | Top German official says EU-U.S. free trade talks have failed | null | null | money.cnn.com | President Obama's free trade deal with Europe is going nowhere, a top German politician has said.
"The negotiations with the U.S. have de facto failed," Sigmar Gabriel said during an interview with German television ZDF.
Gabriel is Germany's minister for Economic Affairs and Energy and also deputy to Chancellor Angela Merkel.
The Trans-Atlantic Trade and Investment Partnership (TTIP) was meant to be one of Obama's legacies, but talks with the European Union have stalled as opposition to the deal grows.
Gabriel said he was a supporter of free trade because German exporters, large and small, would benefit but such a deal could not be done "at any price."
The deal was supposed to span Europe and the U.S., covering more than half of the world's economic output and 800 million people. It has been in the works since June 2013 and Obama's administration is still hoping to reach an agreement before the president leaves office in January.
But the negotiations have been moving at glacial pace. The 14th round of negotiations wrapped up in July, without a significant breakthrough on the most problematic issues.
"We Europeans cannot subject ourselves to American demands, there's no movement there," Gabriel said.
The European Commission, which is leading the negotiations on behalf of EU states, insists a deal is still possible by the end of 2016.
"The ball is rolling right now and the Commission is making steady progress...provided the conditions are right, the Commission stands ready to close this deal by the end of the year," said Margaritis Schinas, the chief spokesperson of the European Commission.
Related: 5 reasons why Europeans hate Obama's free trade plan
But Schinas repeated a statement made by European Commission President Jean-Claude Juncker two years ago that officials would not "sacrifice Europe's safety, health, social and data protection standards or our cultural diversity on the altar of free trade."
Supporters say the deal would create more than a million jobs. The European Commission says it would be worth 545 euros ($620) to each European citizen every year.
But more than 3.2 million people have signed a petition to stop TTIP, and another EU trade deal with Canada.
They are angry that the talks are being held in secret. The TTIP draft has been kept under wraps -- which is not unusual for big trade agreements. WikiLeaks has offered 100,000 euros ($114,000) for the documents.
European labor unions and pressure groups argue the deal will give too much power to big U.S. corporations, because it would make it easier for them to sue governments over laws they claim hurt their business.
Opponents also say the deal could lead to more privatization of public services, including education and healthcare. European Commission says these sectors will not be included in the agreement, but leaks from the negotiations suggest the U.S. is pushing hard for access.
Many in Europe are also worried the deal could lead to a watering down of Europe's existing regulations on food safety and environmental protection, which are often a lot stricter than in the U.S.
Related: Trade turmoil: $1.3 trillion at stake in Brexit breakup
Opposition to TTIP is also growing in the U.S. Republican presidential nominee Donald Trump has repeatedly criticized free trade agreements, including NAFTA and the Trans-Pacific Partnership, saying they are "an attack on America's business."
Hillary Clinton backed big free trade agreements when she was Secretary of State, but she too is now voicing concerns. | http://money.cnn.com/2016/08/29/news/economy/us-europe-free-trade-deal-ttip-dead/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/3cc84c13b40bbbf31910524658e1e6e20d9a629c75ad549c9b9f15b79facc03d.json |
[
"Ivana Kottasova"
] | 2016-08-30T13:40:19 | null | 2015-10-15T01:15:30 | This Italian company makes all-electric racing bike that can go from 0 to 60 in under three seconds, and reaches a top speed of 150 miles per hour. | http%3A%2F%2Fmoney.cnn.com%2F2015%2F10%2F15%2Fautos%2Felectric-motorcycle-energica%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/151015121826-energica-ego-780x439.jpg | en | null | Is this the Tesla of motorbikes? | null | null | money.cnn.com | An Italian company is determined to become the Tesla of motorcycles.
The Modena-based Energica Motor Company makes all-electric racing bikes that can go from 0 to 60 in under three seconds, and reach a top speed of 150 miles per hour. If you don't know much about motorcycles, three seconds is pretty good.
The company started selling its first models just a few weeks ago. So far it has sold 10 bikes, for prices ranging from 25,000 euros ($28,500) for the standard "Ego" model, to 45,000 euros ($51,349) and more for the luxury limited edition "Ego45" model.
The bike's battery gives it a 100-mile range, and can be recharged to 80% of its capacity in 30 minutes.
Despite its all-electric motor, it's not completely silent. "It has its proper sound due to the mechanics of the motor," Livia Cevolini, the company's CEO, said.
"It sounds like a strong whistle: many people have compared it to the sound of a jet," she added.
Related: These roads will charge cars as they drive
Energica is hoping to get a boost from the electric vehicles craze, sparked by Tesla (TSLA). "Tesla is proof that there is room now more than ever for new brands once that technology is demonstrated," Cevolini said.
The company announced it is aiming to go public before the end of the year, hoping to raise funds to invest in production and marketing. It intends to list on the AIM market, a sub-market of the London Stock Exchange.
Energica is a subsidiary of engineering company CRP Group, which manufactures parts for companies in many different sectors, including defense, medical technology and aerospace. Its engineers have worked on parts supplied to Formula One and 24 Hours of Le Mans cars.
The electric sportbikes market is still in its infancy, with only a handful of makers producing high-power motorcycles. Harley-Davidson unveiled its first electric bike last year, and Yamaha said its first electric motorcycles would become available in 2016. | http://money.cnn.com/2015/10/15/autos/electric-motorcycle-energica/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2015-10-15T00:00:00 | money.cnn.com/b3df172f99c2c735b8d692f1b7f247cb1a1ef25fabe1b017b9399029552a8f22.json |
[
"Matt Egan"
] | 2016-08-29T21:38:14 | null | 2016-08-29T08:37:46 | Competition is coming in the EpiPen controversy -- from Mylan itself. The company that makes EpiPen surprised analysts on Monday by announcing plans to launch a generic version of the allergy treatment at a 50% discount. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Finvesting%2Fgeneric-epipen-mylan-discount%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829090714-epipen-mylan-drugs-780x439.jpg | en | null | Generic EpiPen at $300 coming soon, as Mylan responds to outrage | null | null | money.cnn.com | Responding to national outrage over high prices, Mylan announced plans on Monday to launch a generic EpiPen at a 50% discount to the branded version of the life saving allergy treatment.
The generic EpiPen will be "identical" to the branded product in terms of how the drug is made and how the auto-injector functions, Mylan (MYL) said.
The surprise move is the latest attempt by Mylan to silence the uproar ignited by a more than 400% increase in EpiPen prices. The launch comes ahead of looming competition from Teva Pharmaceuticals (TEVA), which is hoping to launch a generic EpiPen of its own as early as next year, pending FDA approval.
Mylan said it plans to launch the generic version in "several weeks" at a cost of $300 per two-pack carton, compared with $608 for the branded EpiPen.
Mylan didn't specify what discounts -- if any -- it is offering on this $300 generic price. It's also not clear why consumers would buy the more expensive branded EpiPen if, as Mylan describes it, it's exactly the same as the generic.
Related: EpiPen CEO: Blame the 'broken' system, not me
The company didn't say why consumers would buy the more expensive branded version, but responded with a statement. "Mylan will continue to offer both -- generic and brand -- options for patients so that they can work with their healthcare provider to determine the best option for them," the company said.
Under pressure from angry parents and politicians last week, Mylan said it will provide instant savings cards worth $300 to patients who have to pay the full price for the drug out of pocket.
However, Mylan has so far stopped short of announcing an actual price cut.
Public Citizen, a consumer rights group, argues that the "weirdness" of a drug company offering a generic version of its own branded but off-patent product is a "signal that something is wrong."
"The company must roll back its unjustified and outrageous price increases," Robert Weissman, president of Public Citizen, said in a statement.
Senator Bernie Sanders also knocked Mylan on Twitter, saying: "This isn't a discount. It's a PR move."
Mylan CEO Heather Bresch said in a statement on Monday: "We understand the deep frustration and concerns associated with the cost of EpiPen to the patient,"
Like last week, CEO Bresch again attempted to shift the blame away from the company and towards a health care system she has called "broken."
The "complexity and opaqueness of today's branded pharmaceutical supply chain" led Mylan to determine that "bypassing the brand system" was the "best option," Bresch said.
Bernstein analysts wrote that the move is "quite costly" for the company because it will reduce the revenue per prescription. | http://money.cnn.com/2016/08/29/investing/generic-epipen-mylan-discount/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-29T00:00:00 | money.cnn.com/dcffe1c8590ef3b6e9eb62328066559d44e924c6e17bc3b219e23ce819c357e4.json |
[
"Ivana Kottasova"
] | 2016-08-30T11:37:45 | null | 2016-08-30T06:12:16 | The European Commission has ordered Ireland to recover unpaid taxes, plus interest, from Apple dating back to 2003. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fapple-tax-eu-us-ireland%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/140611181635-apple-tax-europe-780x439.jpg | en | null | Europe hits Apple with $14.6 billion tax bill | null | null | money.cnn.com | Ireland must recover up to 13 billion euros ($14.6 billion) in unpaid taxes from Apple, Europe's top regulator ruled on Tuesday.
The tax ruling is by far the biggest the European Union has ever made regarding a single company, and it could spark a huge transatlantic row over how Europe treats big U.S. companies.
Apple shares fell almost 3% in premarket trading. The company will appeal the decision. It said the ruling upended the international tax system and would damage jobs and investment in Europe. Ireland also intends to appeal.
The Commission said the Irish government had granted illegal state aid to Apple (AAPL, Tech30) by helping the tech giant to artificially lower its tax bill for more than 20 years.
"Member States cannot give tax benefits to selected companies -- this is illegal under EU state aid rules," said Commissioner Margrethe Vestager, Europe's top antitrust official.
Apple paid tax at 1%, or less, on profits attributed to its subsidiaries in Ireland, well below the 35% top rate in the United States and even well below Ireland's 12.5% rate.
That prompted complaints by both European and U.S. lawmakers, who argued the deal gave Apple an unfair advantage in exchange for creating jobs in Ireland. CEO Tim Cook was even called to testify on Apple's tax deal before a Senate committee in 2013.
The bill for tax benefits, plus interest, covers 2003 to 2014. Apple has more than $231 billion in cash on its balance sheet to cushion the blow.
Related: U.S. warns EU: Don't hit Apple with a massive tax bill
Apple (AAPL, Tech30) is not the only American company that has recently found itself under scrutiny over its European tax affairs.
The European Commission ordered Starbucks and Fiat Chrysler to repay millions in taxes last October.
Starbucks (SBUX) has to pay back up to 30 million euros it saved thanks to a sweetheart tax deal with the Netherlands. Fiat Chrysler (FCAM) was ordered to repay a similar amount after a similar deal with Luxembourg.
Both companies have appealed the decisions.
Related: France going 'all the way' to collect tax from Google, McDonald's
The EU is also probing the tax arrangements of Amazon (AMZN, Tech30) and McDonald's (MCD). Google (GOOG) is under investigation over its taxes in France and a couple of other European countries.
The ruling against Apple's tax deal comes despite a stern warning from the U.S. last week. The Treasury Department urged the European Commission to stop its tax crackdown on American companies, saying it would consider "potential responses" if Brussels doesn't change course. | http://money.cnn.com/2016/08/30/technology/apple-tax-eu-us-ireland/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-30T00:00:00 | money.cnn.com/e45cd625b06b81e8e9504f28ea453fa8fed623d6299ed3e6abcfa90e9ecea943.json |
[
"Brian Lowry"
] | 2016-08-29T07:37:49 | null | 2016-08-29T02:38:14 | 'The Night Of' finale review spoilers | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fmedia%2Fthe-night-of-finale-review%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_entertainment%2B%2528RSS%253A%2BCNNi%2B-%2BEntertainment%2529.json | http://i2.cdn.turner.com/money/dam/assets/160828233152-the-night-of-780x439.jpg | en | null | 'The Night Of' finale delivers satisfying verdict for HBO series | null | null | money.cnn.com | Do not read this if you have not seen "The Night Of" finale and intend to watch it.
With a response rivaling the first season of "True Detective," HBO newcomer "The Night Of" has been the show of the summer and the buzziest debut from the network since that limited series. That acclaim added the weight of lofty expectations to its eighth episode, which finished off the mystery in understated but satisfying fashion.
Of course, the "True Detective" payoff didn't match the build-up, and given the resolution, there will no doubt be some griping about a similar scenario here. The main difference is that while viewers naturally became caught up in "The Night Of's" whodunit aspect, that was really secondary to the collateral damage the murder accusation against Naz (Riz Ahmed, in what has been a star-making turn) inflicted not just on him, but those close to him.
That theme resonated powerfully throughout the conclusion, in which the world-weary detective Box (Bill Camp) came up with a plausible alternative suspect, as the case kept gnawing at him post-retirement. It also saw Naz's young attorney, Chandra (Amara Karan), endanger her career through the revelation that she had become too involved with her client, compelling the cut-rate defense attorney who became Naz's unlikely champion, John Stone (John Turturro), to deliver the closing argument that would help spare him.
Turturro might have inherited the role from the late James Gandolfini, but in hindsight, it's hard to imagine anyone could have played it better. That included the outbreak of eczema that turned him into a scratched-up mess in court; and the subtle realization that he, unlike Naz, would go back to pretty much business as usual, representing the guilty and scrounging for his cash fees.
Related: 'The Night Of' brings arresting crime drama to HBO
Running 98 minutes, the finale spent perhaps a bit too much time in the courtroom, giving relatively short shrift to the little matter of actually solving the murder. Series creators Richard Price and Steve Zaillian didn't lay blame upon one of the usual suspects, and one can argue the results of Box's continuing investigation fell into place a bit too neatly and came out of left field.
Still, that sort of misses the point, beautifully set up in the absorbing first episode: A quiet, unassuming student who had been the pride of his Pakistani immigrant parents, Naz engaged in one uncharacteristic, spontaneous moment that would have serious consequences on his life, whatever the trial's outcome. The far-reaching toll was reinforced by his continued drug use after his release, a byproduct of the compromises made to survive the hardening and dehumanizing aspects of prison.
From a broader perspective, "The Night Of" -- thought-provoking, wonderfully cast and terribly addictive -- represents precisely the kind of ambitious programming that HBO subscribers have come to expect and indeed, demand. (As an aside, the miniseries offered further proof, if any was needed, that HBO should cast "The Wire" and "Boardwalk Empire" veteran Michael K. Williams -- who played Naz's prison protector -- whenever possible.)
The natural temptation will be to try to replicate the program's admirable qualities with a follow-up of some kind, which has already been discussed.
Yet given the "True Detective" experience, that seems like a sucker's bet. As Stone counseled Naz at the end, there's wisdom in getting on with one's life, especially faced with the daunting prospect of creating another "Night" as good as this one. | http://money.cnn.com/2016/08/29/media/the-night-of-finale-review/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_entertainment+%28RSS%3A+CNNi+-+Entertainment%29 | en | 2016-08-29T00:00:00 | money.cnn.com/db11f83d219e2dea35a3da6f98c5957e19d17eb57564453c3421b8f992b73be2.json |
[
"Sophia Yan"
] | 2016-08-29T09:35:49 | null | 2016-08-29T02:18:31 | China has set up a state-owned aircraft engine maker to boost its aerospace industry and support the military. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fchina-aircraft-engine-maker%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160829132015-c919-china-airliner-780x439.jpg | en | null | China's new plan to build a world-class aircraft engine | null | null | money.cnn.com | China has set up a new state-owned aviation firm to help meet one its top tech goals: building a world-class aircraft engine.
The new company, the Aero Engine Corp. of China (AECC), will be responsible for the research, development and manufacturing of aircraft engines and gas turbines, according to Chinese state media. The company has 50 billion yuan ($7.5 billion) in registered capital, and already boasts 96,000 employees.
The new firm is part of China's drive to become a global aviation player. Its establishment has been hailed a "strategic move" by President Xi Jinping, according to written remarks published by state media, and will help China's military reduce its reliance on foreign-made engines.
China has long struggled to build its own jet engines, and boosting its capabilities has been a priority as the country seeks to increase its military clout. Beijing's most recent five-year development plan identifies domestic development and production of engines and planes as a major goal.
But it's a difficult area to master, and China has generally relied heavily on technology from abroad. Over the past four years, engines accounted for 30% of all its imports, according to the Stockholm International Peace Research Institute.
The ARJ21, a Chinese commercial jet that started flying in June, uses engines produced by General Electric (GE).
Even the C919, a commercial airliner that China is developing in the hope of rivaling Boeing (BA), is using engines made by a U.S. and French joint venture.
Related: Why China wants U.S. military jet engines
In June, the U.S. convicted a woman in a Florida court of conspiring to evade export laws by illegally acquiring and sending fighter jet engines and drones to China, according to the U.S. Department of Justice.
Prosecutors said the woman was working with an associate in China to buy and export engines made by Pratt & Whitney and General Electric, which are found in a range of top U.S. military aircraft, including the F-35, F-22 and F-16 fighter jets. | http://money.cnn.com/2016/08/29/technology/china-aircraft-engine-maker/index.html | en | 2016-08-29T00:00:00 | money.cnn.com/3c9992e3027d1cbac6d7e0970d6d7e6f6d54aa676883a25cd49829e53e553ca8.json |
[
"Ivana Kottasova"
] | 2016-08-30T21:38:24 | null | 2016-08-30T12:08:39 | Apple's effective tax rate in Ireland was just 0.005% in 2014. That means Apple paid $50 tax for every million it made. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fapple-tax-ruling-numbers%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830080947-eu-apple-780x439.jpg | en | null | How Apple paid just 0.005% tax on its global profits | null | null | money.cnn.com | Why is the European Union going after Apple for $14 billion in unpaid taxes?
Consider this: In 2014, the corporate giant paid just $50 in tax for every million it made selling iPhones and iPads to most of the world outside America.
That's a tax rate of just 0.005%. Yes, you read that correctly.
So how was that allowed to happen?
Apple has funneled most of its profits from Europe, the Middle East, Africa and India through Ireland for decades. Nothing usual in that. Others do it too.
But under deals the company struck with the Irish government as far back as 1991, it was allowed to split these profits between its Ireland branch and an Apple head office that existed only on paper.
Apple paid the standard Irish tax rate on profits booked to its Ireland branch. Those it allocated to the phantom head office were tax free, because under Irish law it was then considered a "stateless company."
Guess where most of the profits went?
In 2011, Apple Sales International made 16 billion euros in profits. Less than 50 million euros were allocated to the Irish branch. The rest went to the "head office," out of reach of any tax authority.
It was an arrangement that also suited the Irish government.
Ireland has set its corporate tax rate at 12.5%, one of the lowest in Europe, to attract big companies to the country.
Apple (AAPL, Tech30), Google (GOOGL, Tech30), Facebook (FB, Tech30), eBay (EBAY) and Twitter (TWTR, Tech30) have all set up their EU headquarters in Ireland.
And with them came the jobs. Apple employes 6,000 people in Ireland, many of them making iMacs at a factory in Cork -- once a deprived city in the south of Ireland. Apple says it is the biggest private employer in the city.
EU states can set their own rate of tax. But European officials say Ireland's arrangements with Apple gave the company such a huge financial advantage over its competitors that it constituted illegal state aid.
Apple doesn't want to pay the tax even though the $14.6 billion, plus interest, it might have to repay constitutes just 5% of the $231 billion in cash it has on its books.
Ireland doesn't like the ruling either, calling it an "encroachment" into its sovereignty. The country said Apple has paid what it owed in Ireland. | http://money.cnn.com/2016/08/30/technology/apple-tax-ruling-numbers/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-30T00:00:00 | money.cnn.com/34af4be6617f21854142beb48c82fb1d73411d746042582c84ece2565c1779a3.json |
[
"Brian Stelter"
] | 2016-08-29T21:40:21 | null | 2016-08-29T04:46:29 | In the first legal response to Andrea Tantaros' lawsuit against it, Fox News says she "is not a victim; she is an opportunist." | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fmedia%2Fandrea-tantaros-fox-news-lawsuit%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160823140712-andrea-tantaros-3-780x439.jpg | en | null | Fox News fires back at Andrea Tantaros in new motion | null | null | money.cnn.com | In the first legal response to Andrea Tantaros' lawsuit against it, Fox News says she "is not a victim; she is an opportunist."
The motion, filed on Monday, seeks to compel arbitration in the case. It says that her suit is "filled with falsehoods."
Tantaros sued the cable news channel and several top executives last week, alleging retaliation by the network. The suit asserted that ex-Fox News chief Roger Ailes and several other men at the network sexually harassed her, and that she was demoted when she complained about the harassment.
Related: Tantaros sues Fox News
Tantaros has been off the air since April. The network says she was suspended because she published a book without gaining the necessary approvals from her bosses, but did not immediately comment when the suit was filed last week.
Her lawyer says Fox used the book as an excuse to bench her after she spoke up about harassment.
Tantaros remains on the Fox News payroll. Her contract expires next August.
The motion to compel arbitration does not mince words about Tantaros: "Not to be outdone by anyone, she contends that she was sexually harassed by an ever-shifting collection of employees at Fox News; she charges that outside counsel retained by 21st Century Fox deliberately ignored her purportedly important harassment story (actually, her lawyer, Joseph C. Cane, Jr., failed to return a telephone call from the law firm, Paul Weiss, retained to conduct the investigation); and she claims retaliation even though she concedes that she has not been terminated and remains on Fox News' payroll."
"Tantaros's unverified complaint of August 22 in this Court bears all the hallmarks of the 'wannabe': she claims now that she too was victimized by Roger Ailes, when, in fact, contrary to her pleading, she never complained of any such conduct in the course of an investigation months ago," the motion, which is likely a preview of what the network would say either in court or in arbitration, states.
Ailes left the network last month amid allegations of sexual harassment by past and present Fox News employees, including ex-anchor Gretchen Carlson, who sued him on July 6.
Ailes has denied the allegations. Monday's motion was only on behalf of the network and the four remaining executives named as defendants: Bill Shine, Suzanne Scott, Irena Briganti and Dianne Brandi.
Inside Fox News, there has been extreme skepticism about Tantaros' claims. Longtime host and correspondent Geraldo Rivera, echoing the views of colleagues, said her lawsuit is "not [a] sincere legal document," it is a "vindictive screed designed to damage reputations and hurt feelings."
The motion specifically addresses how the Murdochs, who own Fox News, hired an outside law firm, Paul Weiss, to investigate the allegations by Carlson and other women.
21st Century Fox "has made clear its commitment to providing a safe and dignified workplace at Fox News: by immediately launching an investigation in which women were encouraged to report their experiences under conditions of confidentiality, and by committing to make things right with those women who were not treated with the respect that they and every employee deserve," the motion says.
Fox is reportedly in settlement talks with three women.
The overarching point of the motion is that Tantaros's contract steers any complaints against Fox toward arbitration, not a courtroom.
Such arbitration clauses are common in television news industry contracts.
"The fact that arbitration may not present the opportunities for public vilification that she and her counsel seem to favor does not excuse ignoring the express terms of her Employment Agreement," the motion states. "This Court should compel Tantaros to proceed in the arbitration proceeding that is already underway."
The motion was filed in New York state Supreme Court, a few hours after Tantaros's lawyer announced that Tantaros would be willing to submit to a lie detector test, if the defendants would do the same thing.
The press release listed dozens of questions that Tantaros would like the defendants to answer.
Her lawyer had no immediate response to the motion compelling arbitration on Monday. | http://money.cnn.com/2016/08/29/media/andrea-tantaros-fox-news-lawsuit/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/5831f8ad1f0ac74c4bab1876dca3c1d5bac811f07d375104b4450b1df4b3be2b.json |
[
"Matt Mcfarland"
] | 2016-08-29T01:35:37 | null | 2016-08-28T07:32:57 | John Ellenby was ahead of the game when he sold a bulky laptop in 1982. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F28%2Ftechnology%2Flaptop-john-ellenby%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160828163402-laptop-compass-780x439.jpg | en | null | The laptop's godfather dies at age 75 | null | null | money.cnn.com | It's easy to take the modern laptop for granted. Hundreds of millions sell every year. The most affordable models are even less expensive than high-end smartphones. It's near impossible to walk into a coffee shop, workplace or college lecture hall without seeing a laptop.
Yet a generation ago, a computer that opened up to reveal a keyboard and screen was a radical and tremendously expensive idea.
In 1982, British engineer John Ellenby made waves when his company, Grid Systems, released the Compass, a clamshell-like computer. Ellenby died August 17 at the age of 75, according to his son Thomas, who spoke with CNNMoney. The New York Times first reported Ellenby's passing.
Today, the Compass's appearance generates snickers. It was heavy enough to be curled like a dumbbell. It had a foldout leg that propped up the back of the machine and helped prevent it from overheating. The Compass's screen resembled a blurry postage stamp. It cost a fortune -- $8,150 -- which is $20,324 in today's dollars.
Related: Clamshell! The story of the best computing form factor ever
While too expensive for the average person, it was popular with government agencies such as NASA.
Ellenby was ahead of his time. In the early '80s, desktop computers were only just starting to appear, but Ellenby was already on to the next trend. Steve Jobs didn't first unveil Apple's Macintosh -- the block-like desktop computer -- until two years after the Compass first arrived.
And it wasn't until May 2005 that laptops surpassed desktop computers in sales.
Ellenby's visionary nature reemerged later in his life. He cofounded GeoVector in the 1990s, which researched augmented reality, where computers overlay information on top of what our eyes see naturally.
Ellenby lived just long enough to see the breakout success this summer of Pokemon Go, which relies on augmented reality. Once again, Ellenby's instincts were proven right. | http://money.cnn.com/2016/08/28/technology/laptop-john-ellenby/index.html | en | 2016-08-28T00:00:00 | money.cnn.com/288cc135be73e41ff38c6df186d7b06a94c871c29bda08b7de156b86d0d59ea0.json |
[
"Ivana Kottasova"
] | 2016-08-26T15:55:08 | null | 2016-08-26T11:07:29 | Vogue Brazil is under fire for photoshopping images of able-bodied models to make them look like amputees for a Paralympics campaign. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Fparalympics-vogue-brazil%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826093511-vogue-brasil-instagram-780x439.jpg | en | null | Vogue Brazil turns models into amputees to promote Paralympics | null | null | money.cnn.com | Vogue Brazil is under fire for altering images of models to make them look like amputees.
It published pictures of Brazilian actors Cleo Pires and Paulo Vilhena under the headline "We are all Paralympians." The magazine said it was trying to boost interest in the upcoming Paralympic Games in Rio.
Just 20% of tickets have sold for the Paralympics so far, even though they only cost $3 each, the magazine said.
The actors' bodies were altered to look like those of two Brazilian Paralympians, table tennis player Bruna Alexandre and sitting volleyball player Renato Leite.
Alexandre had her right arm amputated when she was three months old and Leite has a prosthetic leg.
Related: Slow ticket sales for Rio Paralympics
But many readers criticized the decision to use digitally-altered images of models rather than Paralympians.
"I think that the campaign should have been done with the athletes themselves, showing their strengths and efforts to reach the games," said Andre Santos, one of the thousands of people who took the magazine to task on its website and Instagram profile.
Auction alert: You can buy gear from the Rio Olympics
Vogue Brazil tried to explain its motive in a second article. It said the idea for the campaign came from Pires, an ambassador for the Paralympics.
"We knew it would be a punch in the stomach, but it was for a good cause, after all, almost no one bought tickets to see the Paralympic Games," Clayton Carneiro, art director of Vogue Brazil, said in the statement.
Despite the criticism, Alexandre said she was "proud to be part of the campaign."
Vogue Brazil has a circulation of 62,000 copies, according to the publisher. The magazine's online version has nearly 3 million unique visitors a month.
The magazine is published by Conde Nast international. It declined to comment on the matter. | http://money.cnn.com/2016/08/26/media/paralympics-vogue-brazil/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-26T00:00:00 | money.cnn.com/478bbd0b7a1069f6617e8a918b48c25de7d0402c1dbe2b03f4488cb2213241ee.json |
[
"Jeanne Sahadi"
] | 2016-08-30T21:40:32 | null | 2016-08-30T04:41:53 | With a veto from Gov. Chris Christie, the "Fight for $15" was dealt a setback in New Jersey. But legislators may sidestep Christie and put the question directly to voters in 2017 as to whether they would like to increase the state's minimum wage to $15. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Fpf%2Fminimum-wage-new-jersey%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160623152533-nj-15-minimum-wage-1-780x439.jpg | en | null | NJ Gov. Christie vetoes $15 minimum wage | null | null | money.cnn.com | The $15 minimum wage is a no-go in New Jersey. At least for now.
Governor Chris Christie on Tuesday vetoed a bill that would have gradually raised the state's current minimum wage of $8.38 to $15 by 2021.
"This bill would make New Jersey only the third state in the nation to adopt a minimum wage of $15, and it would trigger an escalation of wages that will make doing business in New Jersey unaffordable," Christie said at a supermarket where he explained his decision.
But the matter isn't over in the Garden State. Democratic leaders in the state's Assembly and Senate have indicated they would put the measure on the 2017 ballot to let voters decide whether the state should move toward a $15 minimum wage.
That's what they did in 2013 when Christie vetoed a much smaller increase. Voters approved a constitutional amendment that raised the then-$7.25 minimum wage by $1 and thereafter indexed it to inflation.
The National Employment Law Project, an advocate for higher minimum pay, noted that the bill would have raised wages for nearly 1 million workers in New Jersey.
Related: App makes it easier for businesses to fight minimum wage hikes
"Over one-third (34 percent) of New Jerseyans earn under $15 per hour, and many have to rely on public assistance to make ends meet. Over 634,000 New Jersey workers and their children are enrolled in Medicaid or CHIP to afford medical care, and 159,000 use food stamps to put food on the table," NELP executive director Christine Owens said in a statement.
To date, only two states - New York and California -- as well as Washington, D.C. have enacted measures to raise their minimums to $15. | http://money.cnn.com/2016/08/30/pf/minimum-wage-new-jersey/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/9528dd975a952bf79048c794b926619360c125cc8665699cfebce925c20cdfd0.json |
[
"Heather Kelly"
] | 2016-08-29T19:37:44 | null | 2016-08-29T01:15:53 | Apple is expected to announce the latest iPhone at its annual Fall press event in San Francisco next week. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fapple-iphone-7-september-launch-event%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829131305-apple-invitation-780x439.png | en | null | Apple event is happening September 7 | null | null | money.cnn.com | Apple is holding its annual September product launch event on Wednesday, Sept. 7 to likely show off its next-generation iPhone.
The company, which sent out invitations to members of the press on Monday, is expected to unveil the rumored iPhone 7. The affair kicks off at 10:00 a.m. PT at the Bill Graham Civic Auditorium in San Francisco.
In addition to a new iPhone, Tim Cook and his parade of executives will likely announce the official release dates for iOS 10, as well as the new macOS Sierra, watchOS 3, and tvOS 10 operating systems.
Related: Apple could be radically redesigning the iPhone
We could also see a new version of the 15-month old Apple Watch and updated MacBook Pros.
Apple's invitation lacks the usual tag line, which usually gives some vague hint as to the topic, or even just a sense of excitement. Instead, it says "See you on the 7th," without so much as an exclamation mark.
The background is black with a smattering of generic blurry lights -- a possible nod to rumors the iPhone may get an improved camera with a dual-lens system.
Other rumors include a missing headphone jack -- you'll need special headphones that plug into the Lightning port -- and a new blue color option.
Related: Steve Wozniak to Apple: Keep the iPhone's headphone jack
Apple typically holds one of its signature events every September, and they follow a predictable script. We will be there sharing the news as it happens, hoping for any exciting departure from the usual, so stay tuned!
(See Apple, it's not that hard to toss in an exclamation mark.) | http://money.cnn.com/2016/08/29/technology/apple-iphone-7-september-launch-event/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/80bf4f49aac00e92bcc53dd2329b2db3fbb594b975eedaec1cd09b30321b309a.json |
[
"Jethro Mullen"
] | 2016-08-26T13:49:12 | null | 2016-08-25T04:24:14 | The U.S. Treasury said American taxpayers could end up footing the bill for back taxes Apple and others may be forced to pay in the EU. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Ftechnology%2Fus-eu-apple-tax%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/140611181635-apple-tax-europe-780x439.jpg | en | null | U.S. warns EU against hitting Apple with massive tax bill | null | null | money.cnn.com | The United States has sent a message to the European Union: Stop your tax crackdown on American companies or be prepared to suffer the consequences.
The EU is probing the tax arrangements of Apple (AAPL, Tech30), Amazon (AMZN, Tech30) and Starbucks (SBUX) in European countries over concerns they were getting a special deal from governments hoping to attract the U.S. companies.
Apple has already warned the investigation could force it to pay a decade's worth of back taxes to Ireland -- estimated by some analysts to be in the billions of dollars.
The U.S. Treasury Department on Wednesday accused the European Commission agency behind the probes of going beyond its remit and acting as "a supra-national tax authority."
"These investigations have major implications for the United States," said Robert Stack, the Treasury's deputy assistant secretary for international tax affairs. He warned U.S. taxpayers "could wind up eventually footing the bill."
That could happen, he said, if the companies are forced to pay extra tax to the EU and then claim that spending as a deduction on their U.S. taxes.
Related: Europe plans to force big firms to come clean on profits and tax
The Treasury published a white paper detailing its objections, including the fear that other countries could follow the EU example and seek large sums retroactively from both U.S. and EU companies.
It urged the EU to give up on its pursuit of the companies, saying it's considering unspecified "potential responses" if Brussels doesn't change course.
In response to the U.S. criticism, the European Commission said its investigations are aimed at ensuring equal treatment for all businesses by tackling "illegal tax advantages" that some enjoy.
"EU law applies indiscriminately to all companies operating in Europe -- there is no bias against U.S. companies," it said in a statement.
Related: Apple's Tim Cook on his mistakes and what the future holds
Apple is still waiting for a ruling in its case. In a recent interview with the Washington Post, CEO Tim Cook said the company would appeal the decision if it doesn't get "a fair hearing."
"It's important for everyone to understand that the allegation made in the EU is that Ireland gave us a special deal," he said. "Ireland denies that. The structure we have was applicable to everybody -- it wasn't something that was done unique to Apple."
In Amazon's case, the Commission has said Luxemburg may have given it an unfair advantage by helping the company slash its tax bill. Both Luxemburg officials and Amazon deny any wrongdoing.
Starbucks is appealing a Commission decision that its tax arrangements in the Netherlands amounted to state aid. Italian-U.S. car maker Fiat Chrysler (FCAM) is appealing a similar ruling over its tax setup in Luxemburg. | http://money.cnn.com/2016/08/25/technology/us-eu-apple-tax/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-25T00:00:00 | money.cnn.com/2cdb66dc0a191894b5031aa52d49b3ba9837decc0c6cb1ec3c0d1056d9efee97.json |
[
"Sandra Gonzalez"
] | 2016-08-26T19:36:36 | null | 2016-08-26T02:46:50 | Cheryl Boone Isaacs encourages moviegoers to make their own judgments after seeing "Birth of a Nation" | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Facademy-president-on-nate-parker-and-birth-of-a-nation%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826101533-cheryl-boone-isaacs-780x439.jpg | en | null | Academy President on 'Birth of a Nation': 'People should see this film' | null | null | money.cnn.com | The president of the Academy of Motion Picture Arts and Sciences wants the public to judge "The Birth of a Nation" as a film and not by its director's personal history.
"People need to see the movie and judge the movie," Cheryl Boone Isaacs told TMZ during an ambush airport interview Thursday.
Asked her thoughts on how the controversy over Parker's past trial and acquittal for rape is impacting the film's reception, Isaacs, who has not seen the movie, said she sees the two as mutually exclusive.
"That's one issue. That's his personal issue and then there's the issue of the movie," she said. "And with the issue of the movie, the important thing is for people to see it and enjoy the film, be impressed by the film, and I think that is what is very important."
Isaacs' statement comes just a few days after the American Film Institute canceled plans to hold a screening of the film and a Q&A with Parker.
Press screenings of the movie began in Los Angeles this week. The test to see whether the film's impact will outweigh Parker's past is now underway.
Parker and his co-writer on the film, Jean Celestin were charged with rape in 1999 while they were students at Penn State University. Parker was acquitted. Celestin was convicted, but it was later overturned on appeal.
Conversation about Parker's personal history hit a fevered pitch in recent weeks following a report from Variety that revealed the woman who accused Parker of rape committed suicide in 2012.
Parker said he was "devastated" by the news in a lengthy note posted to Facebook last week.
"The Birth of a Nation" debuted in January to excellent early reviews at Sundance. The film was quickly picked up for distribution by Fox Searchlight for a record $17.5 million.
Oscar buzz has since taken a back seat to conversations about the allegations Parker once faced, however.
The negative attention now stands to possibly upset the movie's hopes for accolades.
RELATED: Will rape story kill 'Birth of a Nation?'
The studio has said it will move forward with plans to highlight "The Birth of a Nation" at the upcoming Toronto Film Festival and send Parker on a media tour. Sasha Stone, founder of AwardsDaily.com, told CNN last week this move could be a play to earn back its investment.
"I don't think that they're planning on winning any Oscars or even going into the Oscar race at all," she said. "I think it's more about making the film some money more than anything."
The true impact of the controversy on the movie's awards chances will take some time to see, she added.
"They have a movie they have to sell that's a really good movie, that a lot of people say is an important movie, and they're hoping they can find an audience for it of people who won't be protesting outside with signs against the studio or against the film," she said. "And certainly the Oscar voters are not going to want to go anywhere near anything like that."
Academy voters have historically been what Stone called "controversy averse."
"The tiniest bit of controversy will keep a film out," she said.
But why then have Woody Allen and Roman Polanski -- who've both faced allegations of sexual assault -- not been impacted? That's simple, said Stone. Up-and-comer Parker isn't yet established or "in the club."
"A Roman Polanski or a Woody Allen, they were known to these people," she said. "They're willing to give them the benefit of the doubt, but they won't do that with Nate Parker."
"The Birth of a Nation" opens in theaters October 7. | http://money.cnn.com/2016/08/26/media/academy-president-on-nate-parker-and-birth-of-a-nation/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/74aa19a90c8006265a86ce9097e38f9f71bb3c58c2d87b94a166f86258ad9f27.json |
[
"Charles Riley",
"Jethro Mullen"
] | 2016-08-31T11:40:41 | null | 2016-08-31T06:15:51 | SWIFT says that hackers are continuing to exploit weaknesses in the global banking system. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F31%2Ftechnology%2Fswift-bank-hacks%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160517193253-wall-street-bank-hackers-780x439.jpg | en | null | SWIFT says that more banks are being hacked | null | null | money.cnn.com | The global banking system is (still) under attack.
SWIFT, the messaging network that connects the world's banks, says it has identified new hacks targeting its members, and it is warning them to beef up security in the face of "ongoing attacks." It did not name the banks affected.
The warning follows cyberattacks on banks in Bangladesh, Vietnam, the Philippines and Ecuador in which malware was used to circumvent local security systems, and in some cases, steal money.
An attack on Bangladesh's central bank yielded $101 million. Ecuador's Banco del Austro was hit for $12 million.
The message from SWIFT, which was first reported by Reuters, urges banks to protect themselves against the "persistent, adaptive and sophisticated" attacks, which use a similar method to crack their local security systems.
"These weaknesses have been identified and exploited by the attackers, enabling them to compromise the customers' local environments and input the fraudulent messages," SWIFT said.
SWIFT did not say how many new attacks had been discovered. The company says that its network and core messaging services have not been compromised by the attacks.
In each documented case, the criminals followed the same basic pattern:
Attackers used malware to circumvent a bank's local security systems. They gained access to the SWIFT messaging network. Fraudulent messages were sent via SWIFT to initiate cash transfers from accounts at larger banks.
Related: Casinos, money laundering and wire transfers: Inside a global bank heist
SWIFT CEO Gottfried Leibbrandt warned in May that more attacks could have occurred.
"The Bangladesh fraud is not an isolated incident: we are aware of at least two, but possibly more, other cases where fraudsters used the same modus operandi, albeit without the spectacular amounts," he said.
Related: Two hours and 1,600 fake credit cards later: $13 million is gone
Leibbrandt said the method of attack is much more serious than a typical data breach or theft of customer information. Instead, the loss of control over payment channels could bring down a bank.
"In the recent cases, thieves were able to move just some of those banks' overseas assets," he said. "As a result, for the banks concerned, the events haven't been existential. The point is that they could have been."
SWIFT is taking extra measures to secure client banks, including sharing more information, supporting security audits and introducing tougher requirements for local bank computer networks.
Cybersecurity researchers have suggested that a hacking team known as "Lazarus" is responsible for the attacks. In May, U.S. law enforcement officials told CNNMoney that the attackers may be linked to North Korea. | http://money.cnn.com/2016/08/31/technology/swift-bank-hacks/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-31T00:00:00 | money.cnn.com/837158ed312ab597b5a93a37ef4c2a2eebb115a7424a185b705d52e9f14eb936.json |
[
"Sophia Yan"
] | 2016-08-29T19:36:31 | null | 2016-08-29T02:18:31 | China has set up a state-owned aircraft engine maker to boost its aerospace industry and support the military. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fchina-aircraft-engine-maker%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_world%2B%2528RSS%253A%2BCNNi%2B-%2BWorld%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829132015-c919-china-airliner-780x439.jpg | en | null | China's new plan to build a world-class aircraft engine | null | null | money.cnn.com | China has set up a new state-owned aviation firm to help meet one its top tech goals: building a world-class aircraft engine.
The new company, the Aero Engine Corp. of China (AECC), will be responsible for the research, development and manufacturing of aircraft engines and gas turbines, according to Chinese state media. The company has 50 billion yuan ($7.5 billion) in registered capital, and already boasts 96,000 employees.
The new firm is part of China's drive to become a global aviation player. Its establishment has been hailed a "strategic move" by President Xi Jinping, according to written remarks published by state media, and will help China's military reduce its reliance on foreign-made engines.
China has long struggled to build its own jet engines, and boosting its capabilities has been a priority as the country seeks to increase its military clout. Beijing's most recent five-year development plan identifies domestic development and production of engines and planes as a major goal.
But it's a difficult area to master, and China has generally relied heavily on technology from abroad. Over the past four years, engines accounted for 30% of all its imports, according to the Stockholm International Peace Research Institute.
The ARJ21, a Chinese commercial jet that started flying in June, uses engines produced by General Electric (GE).
Even the C919, a commercial airliner that China is developing in the hope of rivaling Boeing (BA), is using engines made by a U.S. and French joint venture.
Related: Why China wants U.S. military jet engines
In June, the U.S. convicted a woman in a Florida court of conspiring to evade export laws by illegally acquiring and sending fighter jet engines and drones to China, according to the U.S. Department of Justice.
Prosecutors said the woman was working with an associate in China to buy and export engines made by Pratt & Whitney and General Electric, which are found in a range of top U.S. military aircraft, including the F-35, F-22 and F-16 fighter jets. | http://money.cnn.com/2016/08/29/technology/china-aircraft-engine-maker/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_world+%28RSS%3A+CNNi+-+World%29 | en | 2016-08-29T00:00:00 | money.cnn.com/58048b99ceb9163a5a278e7e8b2ee08a851b3a4d602dd16acc0c1951bc2907f3.json |
[
"Jethro Mullen"
] | 2016-08-29T09:39:20 | null | 2016-08-29T04:30:35 | Japan's Mitsubishi Regional Jet (MRJ), which has already suffered repeated delays, was forced to abort test flights to the U.S. not once but twice. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Fcompanies%2Fmitsubishi-mrj-japan-test-flight-problems%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829160643-mitsubishi-regional-jet-mrj-780x439.jpg | en | null | Japan's first passenger jet had a nightmare weekend | null | null | money.cnn.com | Japan's first ever homegrown passenger jet has had a bumpy few days.
The plane was forced to abort two consecutive test flights to the U.S. over the weekend because of problems with the air management system on board.
It's the latest setback for the aircraft, the Mitsubishi Regional Jet (MRJ), which has already suffered repeated delays.
Built by Mitsubishi Aircraft Corp., the MRJ is an effort by Japan to compete in the global plane-making industry. It's the country's first new commercial aircraft in more than 50 years (the last one was powered by turboprop rather than jet technology).
Related: China's big plan to build a world-class aircraft engine
It made its first flight in November, but the company is now trying figure out what went wrong over the weekend.
"We are in the process of finding out the details of the issue we faced during the last two days," Mitsubishi said Monday. "We are inspecting what the cause is first, and then we will consider the next steps."
The MRJ was meant to fly from Japan to the U.S. to carry out a series of flight tests.
The company has pushed back delivery plans for the MRJ four times in the past seven years. Its first customer, Japan's ANA (ALNPY), placed its initial order in 2008, with deliveries scheduled to start in 2013. The airline now isn't expected to receive the first plane until mid-2018.
Related: Boeing could kill production of its iconic 747 jumbo jet
Mitsubishi says the jet, which seats as many as 92 passengers, uses 20% less fuel than other aircraft in its class because of its efficient engines and aerodynamic design.
The MRJ puts Mitsubishi in competition with Brazilian plane maker Embraer (ERJ) and Canada's Bombardier (BDRAF), which dominate the market for passenger jets with fewer than 100 seats.
Delays aren't uncommon in bringing new planes to market. Industry giants Boeing (BA) and Airbus (EADSF) have both endured embarrassing setbacks on high-profile jets like the 787 Dreamliner and the A380. | http://money.cnn.com/2016/08/29/news/companies/mitsubishi-mrj-japan-test-flight-problems/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/919adb605d0a35c639779818771766c386b8aba97f6fbd980b640148061032ff.json |
[] | 2016-08-29T13:38:49 | null | 2016-08-29T08:18:26 | Hangzhou is China's Silicon Valley and the booming capital of the country's richest province. World leaders are meeting here for a summit of G20 nations. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Fnews%2F2016%2F08%2F29%2Fchina-hangzhou-g20-summit.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829130829-china-hangzhou-g20-summit-00001913-780x439.jpg | en | null | China's Hangzhou is hosting G20 leaders for the first time | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/news/2016/08/29/china-hangzhou-g20-summit.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-29T00:00:00 | money.cnn.com/710d9c6d667146ef62e133593094359de8c40a6664e2069fe2de29f75b2905a0.json |
[
"Chris Isidore"
] | 2016-08-29T15:37:13 | null | 2016-08-29T10:31:51 | Coca-Cola says is has met a goal of replenishing all of the water it uses five years ahead of schedule. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Fcompanies%2Fcoca-cola-water%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829081304-coca-cola-water-780x439.jpg | en | null | Coca-Cola: We're replenishing all of the water we use | null | null | money.cnn.com | Coca-Cola says it has replenished all the water it used to make its drinks -- a first for the company.
The company has been criticized for its water use which ramped up after the anti-poverty group War On Want launched a campaign in 2007 to call attention to the issue using the slogan "Coca-Cola: Drinking the world dry."
But on Monday Coca-Cola (KO) announced that it returned an estimated 191.9 billion liters of water to nature and communities in 2015 through community water projects. That represents about 115% of the water used in Coca-Cola's beverages last year.
Its water use was audited by LimnoTech and Deloitte, and conducted in association with The Nature Conservancy. It also returned nearly all of the water used in its manufacturing process with 146 billion liters of treated wastewater.
"Every time a consumer drinks a Coca-Cola product, they can have confidence that our company and bottling partners are committed to responsible water use today and tomorrow," said Coke CEO Muhtar Kent.
Related: Coke debuts 'proud to be an American' cans
The company announced the goal of replenishing all the water it used in drinks by 2020 after the War on Want's 2007 campaign, and made good on its promise five years early through 248 community water partnership projects in 71 countries. The company said some projects return water directly to the source used by the company, while others meet needs of local communities where there is a pressing need.
"This achievement marks a moment of pride for Coca-Cola and our partners," said Kent. He said the company is "keenly aware" that its water stewardship work is unfinished, despite meeting its goal, and that it is exploring how to advance its water programs.
Related: Obesity group with ties to Coke shuts down
But Coca-Cola still has lots of critics when it comes to water use.
Last year when Coke announced it was close to replenishing that water it uses in India, the claim was disputed by the Centre for Research on Globalization, which put out its own report claiming that Coke can never be "water neutral."
It called Coke's claim of replenishment "a public relations exercise designed to manufacture an image of a company that uses water sustainably -- far removed from the reality on the ground."
India is a key market for Coca-Cola. But it has been ordered to shut down plants there due to local concerns about its water use , said the Centre's report.
"We find the company's assertions on balancing water use to be misleading," it wrote. "Replenishing an aquifer hundreds of miles away from the point of extraction, as Coca-Cola has often done to 'balance' their water use, has no bearing on the health of the local aquifer which Coca-Cola depletes through its bottling operations," nor on the deprivation of the people who depend upon it. | http://money.cnn.com/2016/08/29/news/companies/coca-cola-water/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/51ab4c0abcc88e6bd375a179c9390310e230edc4b1290d692ce6a492e3f7d827.json |
[
"Alanna Petroff"
] | 2016-08-26T13:45:59 | null | 2016-08-26T05:12:42 | Here's what you need to know about the markets before you start your business day. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Finvesting%2Fpremarket-stocks-trading%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/150930191330-premarket-nyse-09302015-780x439.jpg | en | null | Premarkets: 4 things to know before the open | null | null | money.cnn.com | Market sentiment around the world is expected to hinge on one woman's speech this morning.
Janet Yellen, the head of the U.S. Federal Reserve, will take the microphone at a major central bank conference in Jackson Hole, Wyoming.
But that's not the only thing to watch right now.
Here are the four key things you need to know before the opening bell rings in New York:
1. What next for interest rates?: All eyes will be on Yellen's 10 a.m. ET speech. Investors are wondering: Will the Federal Reserve chief signal an interest rate rise is coming in the months ahead?
U.S. stock futures are steady ahead of the open and global markets are not making any major moves.
2. Growth guidance: Yellen is speaking just 90 minutes after a new report on second-quarter GDP comes out.
It's widely expected that the U.S. economy grew by 1.1% compared to the same period last year. This would dash hopes for a more robust rebound from a slowdown at the start of the year.
Meanwhile, the official statistics bureau in France released GDP data Friday showing the nation's economy reported zero growth in the second quarter compared to the first.
Related: Fear & Greed Index
3. Market mover -- ITT Educational Services: Shares in ITT Educational Services (ESI) could be on the move again Friday after dropping by 35% Thursday.
Investors pressed the sell button after the U.S. Department of Education announced it was banning the for-profit institution from enrolling new students using federal financial aid. It's also stepping up oversight of the educational provider based on concerns about "organizational integrity, financial viability and [its] ability to serve students."
ITT could not immediately be reached for comment.
Related: The for-profit university problem
4. Muddy Waters strikes again: St. Jude Medical (STJ) will be under intense scrutiny after hedge fund Muddy Waters claimed the medical device maker was selling devices that were vulnerable to hackers. Muddy Waters said it was shorting the St. Jude stock, which means it profits when shares fall.
Shares in the firm dropped 5% on Thursday.
But St. Jude Medical rejected claims that the company's pacemakers and other lifesaving devices are vulnerable to cyber attacks.
St. Jude's chief technology officer Phil Ebeling called the claims "absolutely untrue." | http://money.cnn.com/2016/08/26/investing/premarket-stocks-trading/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/51fb9f50e6c1bb13415a13022c3549d9e54c1805f0ef56fff6451fcf75e0660b.json |
[
"Dylan Byers"
] | 2016-08-27T03:35:20 | null | 2016-08-26T09:19:16 | The Associated Press is standing by an investigation into Hillary Clinton despite widespread criticism and has yet to correct a tweet about its story despite near unanimous agreement among other journalists that the tweet, at least, was false. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Fassociated-press-hillary-clinton-investigation%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160825160908-hillary-cliinton-reno-780x439.jpg | en | null | Associated Press botches Hillary Clinton report and response | null | null | money.cnn.com | Hillary Clinton is surrounded by suggestions of controversy. Terms like "Clinton Foundation," "email server," and "Benghazi" hover around her like a faint smoke that hints at the existence of fire.
But finding the fire -- the lie, the misdeed, the unethical act -- is proving to be rather difficult, as evidenced this week by an inaccurate tweet and arguably misleading story from the Associated Press that were quickly rebutted by the Clinton campaign and dismissed by many media outlets.
Three days later, the Associated Press is still standing by its story and has yet to correct its tweet, despite near unanimous agreement among other journalists that the tweet, at least, was false.
"The AP's social-media take on the story was seriously flawed," David Boardman, the Dean of the School of Media and Communication at Temple University and former editor of the Seattle Times, told CNNMoney. "It's sloppy, click-grabbing shorthand that is a disservice to the reporting to which it refers."
On Tuesday, the AP sent out a breaking news alert: "BREAKING: AP analysis: More than half those who met Clinton as Cabinet secretary gave money to Clinton Foundation."
Not true: As the article stated, what the AP found was that "more than half the people outside the government" who met with Clinton while she was secretary of state "gave money — either personally or through companies or groups — to the Clinton Foundation."
This "extraordinary" finding, as the AP put it, was deemed less extraordinary by other journalists and pundits who noted that Clinton had held thousands of meetings with government employees, foreign representatives, civil leaders, journalists and others while Secretary of State that were not accounted for in the AP's report.
Moreover, the AP only analyzed 154 meetings, based on what has been made available by the State Department, and thus its review only accounts for a fraction of Clinton's meeting schedule during her tenure as secretary of state. (The AP's defenders correctly note that the wire service was only able to examine a limited dataset because of the State Department's intransigence regarding the release of further records, which the AP has been fighting hard to secure.)
Nevertheless, the AP's tweet allowed Donald Trump to stand on stage at a campaign rally and declare that "fifty percent of people who saw [Clinton] had to make a contribution to the Clinton Foundation."
Clinton campaign spokesperson Brian Fallon accused the AP of cherrypicking "a limited subset" of data to give "a distorted portrayal of how often she crossed paths with individuals connected to charitable donations to the Clinton Foundation." On Twitter, he hit the AP for failing to correct its breaking news alert, which he called "100 percent factually inaccurate."
In a statement, AP spokesperson Paul Colford said his organization had been "transparent in how it has reported this story," and that it would continue to examine Clinton's schedules as they became available.
"The Associated Press' reporting relied on publicly available data provided by the State Department about Hillary Clinton's meetings, phone calls and emails, cross-referenced against donor information provided by the Clinton Foundation and its related charities on its websites," Colford wrote.
Meanwhile, other news organizations pilloried the AP's report.
The Washington Post Fact-Checker wrote that there were "many more nuanced and important details in the story that are being misrepresented — by the AP's own promotional tweet, and by Trump."
Vox's Matthew Yglesias was more direct: "The AP's big exposé on Hillary meeting with Clinton Foundation donors is a mess," his headline read.
Boardman argued that the story itself "was not nearly so flawed as Yglesias and others have charged."
"The AP reporters made clear they found no smoking-gun quid pro quo. And Clinton defenders' claim that 'there is no story' is absurd; of course it is worth investigating and explaining the relationship between Secretary Clinton and the Foundation, and how that relationship worked while she was at State," he said.
"If anything," Boardman continued, "the AP story could have used far more exploration of the inherent ethical issues here, and of the notion that whether or not Clinton gave extraordinary help to Foundation donors, the potential for accusations of that was probably reason enough to avoid such meetings altogether." | http://money.cnn.com/2016/08/26/media/associated-press-hillary-clinton-investigation/index.html | en | 2016-08-26T00:00:00 | money.cnn.com/e8daaeedf309058e3b2cb3f3621141960f5b85b8890eee668dd4689135d1b687.json |
[
"Matt Mcfarland"
] | 2016-08-29T01:36:50 | null | 2016-08-28T07:32:57 | John Ellenby was ahead of the game when he sold a bulky laptop in 1982. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F28%2Ftechnology%2Flaptop-john-ellenby%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160828163402-laptop-compass-780x439.jpg | en | null | The laptop's godfather dies at age 75 | null | null | money.cnn.com | It's easy to take the modern laptop for granted. Hundreds of millions sell every year. The most affordable models are even less expensive than high-end smartphones. It's near impossible to walk into a coffee shop, workplace or college lecture hall without seeing a laptop.
Yet a generation ago, a computer that opened up to reveal a keyboard and screen was a radical and tremendously expensive idea.
In 1982, British engineer John Ellenby made waves when his company, Grid Systems, released the Compass, a clamshell-like computer. Ellenby died August 17 at the age of 75, according to his son Thomas, who spoke with CNNMoney. The New York Times first reported Ellenby's passing.
Today, the Compass's appearance generates snickers. It was heavy enough to be curled like a dumbbell. It had a foldout leg that propped up the back of the machine and helped prevent it from overheating. The Compass's screen resembled a blurry postage stamp. It cost a fortune -- $8,150 -- which is $20,324 in today's dollars.
Related: Clamshell! The story of the best computing form factor ever
While too expensive for the average person, it was popular with government agencies such as NASA.
Ellenby was ahead of his time. In the early '80s, desktop computers were only just starting to appear, but Ellenby was already on to the next trend. Steve Jobs didn't first unveil Apple's Macintosh -- the block-like desktop computer -- until two years after the Compass first arrived.
And it wasn't until May 2005 that laptops surpassed desktop computers in sales.
Ellenby's visionary nature reemerged later in his life. He cofounded GeoVector in the 1990s, which researched augmented reality, where computers overlay information on top of what our eyes see naturally.
Ellenby lived just long enough to see the breakout success this summer of Pokemon Go, which relies on augmented reality. Once again, Ellenby's instincts were proven right. | http://money.cnn.com/2016/08/28/technology/laptop-john-ellenby/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-28T00:00:00 | money.cnn.com/40031cd16c7dfc995fde3b8dcf6d8b2ae67288688174c445a267bd3e243441f4.json |
[
"Seth Fiegerman"
] | 2016-08-30T15:40:35 | null | 2016-08-30T11:15:39 | President Obama will guest edit the November issue of Wired, which the magazine is touting as the first time a magazine has been edited by a sitting president. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fobama-wired-magazine%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160630165319-obama-ottawa-780x439.jpg | en | null | President Obama to guest edit Wired | null | null | money.cnn.com | What else can you possibly add to your resume after serving as president of the United States? Magazine editor, apparently.
President Obama will guest edit the November issue of Wired, which the magazine is touting as the first time a magazine has been edited by a sitting president.
The issue, scheduled to come out in October, will focus on "the next hurdles that humanity will need to overcome to move forward," according to an announcement Tuesday from Wired.
"These will include personal frontiers, from precision medicine to human performance; local frontiers, including using data in urban planning and making sure renewable energy works for everyone; national frontiers, from civil rights to medical data," Robert Capps, head of editorial at Wired, wrote in the announcement.
It will also include "international frontiers, like climate change and cybersecurity; and final frontiers, including space travel and Artificial Intelligence," according to Capps.
Related: Obama's staff is taking over Silicon Valley
The announcement comes just days after Wired endorsed Hillary Clinton, marking the magazine's first presidential endorsement in its 23-year history.
Clinton won Wired's praise for supporting net neutrality, pledging to strengthen the Affordable Care Act, and aiming to make immigration easier for people with STEM degrees.
The Obama administration has been particularly cozy with the technology industry that Wired covers.
Dozens of Obama staffers have left for jobs at companies like Google (GOOG), Facebook (FB, Tech30), Amazon (AMZN, Tech30) and Uber -- and executives from some of these companies have also taken technology roles in the Obama administration.
Obama, like Clinton, has pushed for issues supported by Wired and the tech community, including entrepreneurship and the need for immigration reform for skilled workers.
Obama has even suggested he may be interested in doing some work as a venture capitalist after leaving office. | http://money.cnn.com/2016/08/30/technology/obama-wired-magazine/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/628d9769cafe078e0bdd0bfdb0d90f67109eab0dc2a3781d64f4a2c48b6ea0d7.json |
[
"Matt Egan"
] | 2016-08-26T17:39:26 | null | 2016-08-26T12:23:16 | EpiPen price hike outrage could speed FDA approval of an alternative by Teva as early as 2017. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Finvesting%2Fepipen-price-hike-generic-alternative%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825082120-epipen-780x439.jpg | en | null | EpiPen outrage may fuel cheap generic in 2017 | null | null | money.cnn.com | Help for parents outraged by skyrocketing EpiPen prices could be coming as soon as next year.
A generic alternative for the lifesaving allergy treatment is being developed by Teva Pharmaceuticals (TEVA). The company has indicated the generic treatment may arrive as early as next year, creating a cheaper alternative to EpiPen, which has cornered an estimated 94% of the market.
In fact, some Wall Street analysts believe the national outcry over the 400% increase in EpiPen prices may ultimately speed up the FDA approval process for an affordable replacement.
"We suspect FDA will be under pressure to enable [a] more competitive market," Bernstein analyst Aaron Gal wrote in a research report on Thursday.
Gal predicted the FDA's review of Teva's alternative may be "accelerated." He added: "Questions of 'what is close enough' may be viewed differently."
The FDA declined to comment specifically on the generic EpiPen approval process, citing agency policy. However, the FDA noted that it automatically speeds up review of first generic drug applications, while ensuring these drugs are as "safe and effective as their brand name counterparts."
Teva's generic drug was delayed after the FDA identified certain "major deficiencies" in February. The exact cause of the agency's concern is unknown.
However, Teva directed CNNMoney inquiries to the company's previous statements that the launch could still come as early as 2017. Teva declined to comment specifically on the controversy.
Related: EpiPen CEO: Blame the 'broken' system, not me
Irina Koffler, an analyst at Mizuho, said the key will be how serious the issue was that delayed Teva's FDA application.
"If it is something easily correctable, then I'm sure FDA can allocate additional internal resources to expedite the review," she said.
On the other hand, a more complex problem may take time. And in the end, the FDA's first priority is safety, not cost.
The national uproar has clearly changed the landscape since the FDA last looked at Teva's generic candidate. Political pressure is building.
Democratic presidential nominee Hillary Clinton this week called on EpiPen maker Mylan (MYL) to immediately cut the "outrageous" price of the treatment. A bipartisan group of five U.S. senators, in a letter to the FDA this week, pressed the agency on whether any "barriers" exist to approving safe alternatives to the EpiPen. The lawmakers also asked the FDA if it has looked into over-the-counter EpiPen alternatives.
"This is a big deal," Evercore analyst Umer Raffat said about the letter to the FDA.
Still, Raffat and some other analysts believe a generic EpiPen may not be approved until early 2018 -- or later. "I think we're some time away from Teva generic," he said in an interview.
Related: AIDS drug that spiked 5,000% is STILL pricey
The EpiPen controversy, fueled by a grassroots social media campaign by parents, centered on how prices have soared to about $600, compared with below $100 in 2009.
EpiPen maker Mylan responded on Thursday by providing savings cards worth $300 to patients who have to pay full price out of pocket. Heather Bresch, the embattled Mylan CEO, attempted to shift the blame to a "broken" health care system she said "incentivizes higher prices."
However, Bernstein's Gal notes that Mylan jacked up prices in November, just a month after Auvi-Q -- EpiPen's main rival -- was pulled off the market. Mylan then raised prices another 15% in May, translating to a roughly 27% year-over-year price hike.
"With competitors out of the market, Mylan was in a position to price up EpiPen, which they did," Gal wrote. | http://money.cnn.com/2016/08/26/investing/epipen-price-hike-generic-alternative/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-26T00:00:00 | money.cnn.com/74537a80c7b7a39ed542608d8b01081b8ee1f09239f089b26fa67b62323393cc.json |
[
"Channon Hodge"
] | 2016-08-29T23:40:26 | null | 2016-08-29T06:28:28 | Prism Skylabs' technology uses security cameras to generate a heat map of a store's layout and translate that data onto a dashboard for store managers. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fprism-technology-shopping%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160823111305-hp-shopping-technology-2-780x439.jpg | en | null | Retail's secret weapon: high-tech heat maps | null | null | money.cnn.com | Online stores enjoy some big advantages over their brick and mortar competitors -- cheaper rent, 24/7 sales and near instant feedback about their buyers' preferences and shopping habits.
Because e-commerce sites can track shoppers' every move online, they're able to constantly gauge what we like, what we buy and how we shop. They're able to quickly make adjustments to their products, marketing and pricing, helping increase sales.
How can a traditional store compete against that information advantage? The old fashioned way was to have a store clerk follow customers around, see what they looked at, and take notes for later. Now, a new heat mapping technology is helping brick and mortar retailers track customers' behavior electronically in real time.
Prism Skylabs' technology uses security camera images to generate a heat map of a shop's layout and translate that data onto a dashboard for store managers.
This helps managers analyze which areas of the sales floor best catch a shopper's attention and which are overlooked. The heat mapping is so specific, it can tell which items on a table got the most attention from consumers.
By aligning that data with sales, managers can see if shoppers lingered in a specific area, showing they were attracted to an item but didn't find it enticing enough to buy. Retailers can then determine whether the issue was missing sizes, pricing, quality or something else.
Retailers need tools to help them say, "'OK, so this is working, this is not working, I need to change this' and quickly make adjustments," said Cliff Crosbie, Prism Skylabs Senior Vice President of Retail.
Related: How farmers use 'digital agriculture' to grow more crops
Rachel Shechtman has been using Prism's technology to help her reconfigure her store STORY in Manhattan. Her shop changes its theme and offerings month to month.
Shechtman views the technology as A/B testing in real life. With it you can determine, "'Is it the placement of the product on the table, or is the product just a dud?'" Shechtman told CNNMoney. "All these analytics exist in a virtual world, and so to be able to have those insights in a physical world has been incredibly helpful."
Prism's videos helped Shechtman rethink how to display the most expensive item from her late summer theme, "Remember When," inspired by Nickelodeon's 25th anniversary. The SpongeBob Rolex was getting little attention, she learned from the heat maps, even though it stood out in its own glass case.
"The same person walked by it three times and never saw it," Shechtman said. Without the heat maps, she said, "I would've never guessed that in a million years." | http://money.cnn.com/2016/08/29/technology/prism-technology-shopping/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/ade58c3481121f8b9da61c8354c13e6fd5a31ff65cc00ffed87ffe4b9300693f.json |
[
"Heather Kelly"
] | 2016-08-29T21:38:32 | null | 2016-08-29T01:15:53 | Apple is expected to announce the latest iPhone at its annual Fall press event in San Francisco next week. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fapple-iphone-7-september-launch-event%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829131305-apple-invitation-780x439.png | en | null | Apple event is happening September 7 | null | null | money.cnn.com | Apple is holding its annual September product launch event on Wednesday, Sept. 7 to likely show off its next-generation iPhone.
The company, which sent out invitations to members of the press on Monday, is expected to unveil the rumored iPhone 7. The affair kicks off at 10:00 a.m. PT at the Bill Graham Civic Auditorium in San Francisco.
In addition to a new iPhone, Tim Cook and his parade of executives will likely announce the official release dates for iOS 10, as well as the new macOS Sierra, watchOS 3, and tvOS 10 operating systems.
Related: Apple could be radically redesigning the iPhone
We could also see a new version of the 15-month old Apple Watch and updated MacBook Pros.
Apple's invitation lacks the usual tag line, which usually gives some vague hint as to the topic, or even just a sense of excitement. Instead, it says "See you on the 7th," without so much as an exclamation mark.
The background is black with a smattering of generic blurry lights -- a possible nod to rumors the iPhone may get an improved camera with a dual-lens system.
Other rumors include a missing headphone jack -- you'll need special headphones that plug into the Lightning port -- and a new blue color option.
Related: Steve Wozniak to Apple: Keep the iPhone's headphone jack
Apple typically holds one of its signature events every September, and they follow a predictable script. We will be there sharing the news as it happens, hoping for any exciting departure from the usual, so stay tuned!
(See Apple, it's not that hard to toss in an exclamation mark.) | http://money.cnn.com/2016/08/29/technology/apple-iphone-7-september-launch-event/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-29T00:00:00 | money.cnn.com/d1d2433357585e6087a09e52dcded53f4f95b9b7c5d76688b8e3be37ff3d6f6a.json |
[
"Stephanie Busari",
"Alanna Petroff"
] | 2016-08-30T17:36:09 | null | 2016-08-30T12:31:20 | Facebook founder and CEO Mark Zuckerberg is getting serious about adding new 'friends' in Africa by visiting Lagos, Nigeria, to meet with local startup founders and developers. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Ffacebook-mark-zuckerberg-africa-nigeria-lagos%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160830162603-mark-zuckerberg-africa-nigeria-lagos-kids-780x439.jpg | en | null | Mark Zuckerberg makes first-ever visit to Sub-Saharan Africa | null | null | money.cnn.com | Mark Zuckerberg is getting serious about adding new "friends" in Africa.
The Facebook founder visited Sub-Saharan Africa for the first time on Tuesday, touching down in Lagos, Nigeria. He met with local businesses and developers in an effort to understand how Facebook (FB, Tech30) could "better support tech development and entrepreneurship across Africa," the company said in a statement.
His visit included a trip to a Yaba, known as the Silicon Valley of Nigeria, where he toured a coding camp for kids and met with about 50 local startup founders and developers at CcHub, a local innovation center.
Zuckerberg told CNN: "There's so much energy and so much potential here. I just want to walk around and meet folks."
As Zuckerberg walked down the street, he drew loud cheers from passersby.
Zuckerberg has been increasingly involved in African initiatives this year.
In June, his foundation -- the Chan Zuckerberg Initiative -- made a multi-million dollar investment in Andela, a two-year-old startup that trains African software developers and gives them full-time roles at international companies. Andela works out of headquarters in Lagos and Nairobi, Kenya -- so Zuck paid a visit to the Lagos office too.
Andela's director Seni Sulyman said it was a thrill to welcome Zuckerberg.
"Mark's visit demonstrates to all Nigerian developers and entrepreneurs that they've caught the attention of the tech world, and they are capable of succeeding on a truly global level," Sulyman said in a written statement.
Related: Zuckerberg gives Pope Francis a drone
Zuckerberg has also put his weight behind an initiative called "Free Basics," which provides free Internet access to cellphone users in under-served countries, including Zambia, Tanzania and Kenya.
It runs in more than 20 African countries and recently launched in Nigeria.
The "Free Basics" app -- which is run by Facebook's Internet.org unit -- allows cellphone users to access certain types of information related to areas like health care and employment.
However, the app is not without controversy. India's telecoms regulator blocked the service in February, saying providers must charge the same price for all content.
Critics have also argued that the program violates the central tenets of net neutrality, which stipulate that all Internet content and users should be treated equally. Cherry-picking free content isn't considered fair or right, according to the critics.
Late last year, Zuckerberg and his wife Dr. Priscilla Chan publicly pledged to donate billions of Facebook shares to fund projects and charities that advance human potential and promote equality though their Chan Zuckerberg Initiative. | http://money.cnn.com/2016/08/30/technology/facebook-mark-zuckerberg-africa-nigeria-lagos/index.html | en | 2016-08-30T00:00:00 | money.cnn.com/964dd5c5f72b5a02b99ce6a03d1f5f7cba1c5c8d5c2d86eb66800878d7bd000f.json |
[
"Ivana Kottasova"
] | 2016-08-26T15:47:36 | null | 2016-08-26T08:47:31 | Entertainment company Secret Cinema has convinced hundreds of thousands of people to do exactly that -- without even telling them the title in advance. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Fsecret-cinema%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160815163259-secret-cinema-dirty-dancing-780x439.jpg | en | null | Secret Cinema: The company making millions from movies you've seen | null | null | money.cnn.com | Would you pay $100 to see a movie?
Entertainment company Secret Cinema has convinced hundreds of thousands of people to do exactly that -- sometimes without telling them the title in advance.
But this is not a super expensive trip to your local multiplex. You get a lot more than popcorn and a screening.
"Instead of watching a film, you essentially are in the film...you live the film," said Fabien Riggall, founder of Secret Cinema, based in London.
Riggall says he offers an "immersive theatrical experience." And it appears to be working -- four shows over the past 18 months have attracted 180,000 people.
For some events, the movie is a mystery when tickets go on sale. The company's slogan is "Tell No One."
Each ticket holder is assigned a secret identity, and told what to wear and where to go, usually in a series of cryptic messages. For "Dr. Strangelove," they took the form of army dispatches. For "28 Days Later," the company sent out invitations to hospital appointments.
Once fans get to the venue -- often abandoned spaces transformed into a film set -- they become part of the movie. Actors in character encourage the audience to participate, giving them tasks and pulling them into the plot.
Related: Google's plan to bring VR to the masses
The company also organizes events based on cult classics where you know what you're getting -- at least in terms of the movie. Their most recent production of this kind -- "Dirty Dancing" -- brought in 30,000 people, each paying 68 pounds ($90) for a ticket.
Most arrived at a custom built holiday camp in east London dressed in full period costumes. Some even carried water melons, a nod to one of the movie's most memorable lines.
They took dance classes, played lawn games, and snacked in the "staff quarters." They watched the movie at the end of the evening, many quoting lines alongside the actors on the big screen.
The event in July was so popular it pushed "Dirty Dancing" back into the U.K. box office top 10, nearly 30 years after it was first released.
Related: How to build a $100 million company out of mud
Secret Cinema has had other big hits. Two years ago, it transformed a patch of tarmac in London's Olympic Park into a town complete with stores, a farm, a ferris wheel and a gas station for a series of "Back to the Future" shows.
Actors flew on zip lines above the audience and drove around in cars from the 1950s. When the famous Delorian made an appearance, the crowd roared with delight.
"I think people are hungry for experiences that would make them feel alive and connected to people," Riggall told CNNMoney.
Most people embrace the game, even ditching their phones for the night. Taking photos or using technology is strictly forbidden at Secret Cinema events. After all, they have to remain secret.
"Doing something secret in this day and age is really great, very special...like a little mystery," Riggall said.
Related: A 3D movie without those goofy glasses? MIT is working on it
Secret Cinema has grown from Riggall and a handful of other enthusiasts in 2003 to 15 full time staff and hundreds of contractors and freelancers. Over 200 people worked on "Dirty Dancing."
Last year's "Star Wars" show attracted 100,000 people. They spent the evening in an abandoned printing factory complete with Stormtrooper patrols and a replica of the Empire ship. At £75 ($100) a ticket, the company generated box office takings of roughly £7.5 million ($10 million).
Riggall, himself a film maker, said his company has tapped into what could be the future of cinema. He's developing a movie that would be shot specifically for Secret Cinema.
"If you can bring 20,000 people to a production when they don't know what they're going to see...that can change the way films are made," he said.
Given the success in the U.K., Riggall is naturally thinking about expanding into other countries. The U.S. is an obvious choice, but he said he doesn't want to rush it. "The moment has to be right," he said. The company has already hosted one-off events in New York and Berlin. | http://money.cnn.com/2016/08/26/media/secret-cinema/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/088b6d65bc8d4ac7ba0406266cec7546d0cb9f68ca0aac5f066c82a047330a19.json |
[
"Alex Koppelman"
] | 2016-08-28T17:36:47 | null | 2016-08-28T12:30:04 | Kathleen Carroll of the AP is defending her organization's controversial investigation into meetings Hillary Clinton took while Secretary of State. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F28%2Fmedia%2Fkathleen-carroll-defends-ap-clinton-investigation%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160828124029-clinton-foundation-ap-story-00020409-780x439.jpg | en | null | AP's Kathleen Carroll defends Clinton investigation | null | null | money.cnn.com | Associated Press Executive Editor Kathleen Carroll is defending her organization's controversial investigation into meetings Hillary Clinton took while Secretary of State -- but she admits a tweet the AP sent out about its story was "sloppy."
"I do think it's interesting," Carroll said of the AP's investigation and its findings during an interview with Brian Stelter on CNN's "Reliable Sources" Sunday. "We didn't say it amounted to the end of the world, we said this is an important and interesting thing that people should know about, Clinton's tenure in the highest office that she's ever held, Secretary of State. Who did she meet with? Who are those people?"
The investigation, and an article the AP published about it, came under scrutiny this week.
Related: Associated Press botches Hillary Clinton report and response
In examining people Clinton had met with during her tenure at the State Department and how many of them had given to the Clinton Foundation, the AP had excluded those with whom Clinton would be expected to meet as Secretary of State -- U.S. government employees and officials from foreign countries, for example. Critics charged that this painted a misleading picture of how much priority Clinton gave to the foundation's donors.
That was especially true of a tweet the AP sent promoting its story, in which it did not disclose the meetings it had left out of its calculations.
BREAKING: AP analysis: More than half those who met Clinton as Cabinet secretary gave money to Clinton Foundation. — The Associated Press (@AP) August 23, 2016
"We're a lot better at breaking stories and covering news and gathering video and taking photographs than we are on tweets," Carroll told Stelter. "This one could have used some more precision."
However, asked if that meant she regretted the tweet, Carroll said, "No. If we felt it was wrong, we would have taken it down right away." Pressed again, she said, "I think it was sloppy."
Carroll did defend the story itself, though, and put some of the blame on the Clinton campaign and the State Department for not being more forthcoming with Clinton's schedule as Secretary of State and for not answering questions about the investigation's findings.
"We ask them questions, they are unresponsive," Carroll said. "They had been unresponsive from the State Department until we sued them to get the documents, so you know we're glad to have plenty of conversations with people about that."
She added: "Anything they want to say to us that we can include in the story that would help illuminate their point of view, we'd be glad to include." | http://money.cnn.com/2016/08/28/media/kathleen-carroll-defends-ap-clinton-investigation/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-28T00:00:00 | money.cnn.com/8744c1d3aa6dc8bb9c6406cdf6f7f6fdfe8a2bf81626a3885372ec7a1e6e65e5.json |
[
"Tami Luhby"
] | 2016-08-29T19:39:55 | null | 2016-08-29T02:28:00 | Obamacare needs to get more healthy people into the exchanges to bring back insurers. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Feconomy%2Fobamacare-enrollment%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160711175447-obama-obamacare-780x439.jpg | en | null | Drawing more unisured into Obamacare is critical to its survival | null | null | money.cnn.com | Obamacare needs to draw in more uninsured Americans -- the healthier, the better -- this fall to put it on more stable footing.
The exchanges have enrolled 11.1 million people, as of March, according to the latest federal data. That's up only a little from the 9.9 million covered as of the summer of 2015.
Many enrollees, however, have been sicker than expected and have spent more on health care than insurers predicted. Premiums have not covered these higher costs, leading several insurers to downsize their presence on the exchanges to stem hundreds of millions of dollars in losses.
Related: Will Obamacare survive as insurers pull out?
So it's critical that more of the 28.6 million folks who remain uninsured sign up when open enrollment begins in November, which is prompting the administration to roll out a big push later this year. A healthy boost in enrollment would likely signal that healthier people are entering the market.
"In order to encourage insurers to come back, strong enrollment is critical, especially in this enrollment cycle," said Cynthia Cox, associate director, health reform and private insurance, at the Kaiser Family Foundation.
But if enrollment growth is weak, more insurers may bail, she said.
Overall, some 20 million people have gained insurance thanks to Obamacare, according to the Obama administration, citing Gallup-Healthways Well-Being Index Survey data. The problems in the exchanges mask the fact that millions of low-income Americans are now covered by Medicaid and young adults can now stay on their parents' policies until age 26. The uninsured rate has fallen to a record low 9.1%.
Related: Choices dwindling for Obamacare customers
Still, providing coverage on the individual exchanges remains a struggle. Insurer downsizings mean that 19% of all enrollees will only have a single company to choose from, up from 2% this year, according to a new Kaiser analysis. And 38% of enrollees may only have two insurers in their exchanges.
Carriers remaining in the market are asking for hefty premium increases to cover their enrollees' costs. Insurers have requested a rate hike of 9%, on average, for the benchmark plan for 2017, up from 2% for this year. But some insurers have been granted much steeper, double-digit hikes for the policies. (Some 85% of enrollees receive federal subsidies that can lower their premium to less than 10% of their income.)
One reason behind the large hikes is that many insurers underpriced their plans to attract enrollees.
Even so, enrollment has been significantly lower than initially expected. Back in February 2013, the Congressional Budget Office projected that 24 million people would be in the exchanges by 2016, in part because some employers would drop coverage, forcing workers into Obamacare. Not only did that not happen, but the subsidies did not attract and the penalties did not scare the uninsured into signing up.
CBO now projects only 12 million will sign up for this year.
However, the CBO figures do not reflect how many people need to enroll to be successful, Cox said. The estimates were calculated to give the federal government an idea of the cost of the subsidies. While the administration initially, though somewhat reluctantly, embraced the projections as a goal, it has since scaled back the figures.
The Obama administration has projected that 10 million people will be enrolled by year's end. (A large chunk of those who signed up during open enrollment will drop out over the course of the year, either because they'll find insurance elsewhere or they will stop paying their premiums.)
Related: What Clinton and Trump would do about Obamacare
To boost those figures for 2017, the Department of Health & Human Services is planning a big push to get people -- particularly young adults who are likely to be healthier -- to sign up.
For the first time, the department will reach out directly to Americans who had to pay the penalty for being uninsured in 2015. The penalty for this year goes up to $695 per adult, though taxpayers won't feel the bite until they file their returns next spring.
It will also reach out to 26-year-olds who are transitioning off their parents' plans, encouraging their parents' employers to provide information about signing up on the exchanges. It will also conduct email campaigns and partner with non-profits to reach out to this market.
"As in past years, a wide range of resources will be available to help consumers find a 2017 plan that works for them and their families when open enrollment begins November 1st," said HHS Press Secretary Marjorie Connolly. | http://money.cnn.com/2016/08/29/news/economy/obamacare-enrollment/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/bb5d5006de8de4470ae0d32acde61a414c89613e150696dd87be928ea7cd140b.json |
[
"Richa Naik"
] | 2016-08-29T15:39:18 | null | 2016-08-29T11:10:59 | Ashley Graham, the first plus-sized model to appear on the cover of the Sports Illustrated Swimsuit issue talks about body shaming, cyberbullying and body acceptance. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Fmedia%2F2016%2F08%2F29%2Fvmas-ashley-graham.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829111030-vmas-ashley-graham-00000000-780x439.jpg | en | null | Swimsuit model: I claimed confidence in my cellulite | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/media/2016/08/29/vmas-ashley-graham.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-29T00:00:00 | money.cnn.com/03f8c3cb3db8e7d7f6ff1120769ca69a09f086cf41616f6fab45391352c64942.json |
[
"Ahiza Garcia"
] | 2016-08-27T21:39:09 | null | 2016-08-27T03:36:32 | Nate Parker, the star and director of "The Birth of a Nation," has been shadowed in recent weeks by a past rape case. He spoke Friday in an interview with Ebony. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F27%2Fmedia%2Fnate-parker-birth-of-a-nation%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160817074642-nate-parker-rape-response-780x439.jpg | en | null | Nate Parker of Birth of a Nation speaks to Ebony | null | null | money.cnn.com | Nate Parker continues to explain himself.
Parker is the director and star of "The Birth of a Nation," a highly-anticipated fall film about racial injustice that has been overshadowed in recent weeks by a past rape case.
Parker, now 36, was charged with rape while a student at Penn State in 1999. He was acquitted, and the accuser committed suicide in 2012 at the age of 30.
"The Birth of a Nation" is a drama about Nat Turner's slave rebellion in 1831. Parker plays Turner.
Speaking at the Merge Summit in Los Angeles on Friday night, Parker said it was "very difficult to talk about injustice and not deal" with the rape charges in a public way.
"When I was first met with the news that this part of my past had come up, my knee-jerk reaction was selfish," he said, according to a report by Ebony.
In an interview with Ebony's Britni Danielle, Parker spoke about what he called "toxic masculinity and male privilege."
He said his perception of consent has changed.
"It wasn't a conversation people were having," he said. "When I think about 1999, I think about being a 19-year-old kid, and I think about my attitude and behavior just toward women with respect objectifying them. I never thought about consent as a definition, especially as I do now."
Related: 'People need to see this movie'
Danielle asked Parker how he would label the incident that led to the rape charges.
"I'll say this, I think that [there] are more things than the law," Parker said. "I think there is having a behavior that is disrespectful to women that goes unchecked, where your manhood is defined by sexual conquests, where you trade stories with your friends and no one checks anyone."
Parker said he believes most people wait too long to think about the effects of "hyper-masculinity and false definitions of what it means to be a man." Too often, men don't understand until they have kids or get married, according to Parker.
"In all actuality, we got to do better about preparing our men for their interactions with women," he said.
Related: Nate Parker 'devastated' over rape case
"The Birth of a Nation" got rave reviews at the Sundance festival in January and was bought by Fox Searchlight for $17.5 million. It opens in theaters on October 7.
The controversy over Parker's past has shadowed the movie ahead of its release.
In a Facebook post earlier this month, Parker said he was "filled with profound sorrow" when he recently learned that the woman involved in his legal case had committed suicide. | http://money.cnn.com/2016/08/27/media/nate-parker-birth-of-a-nation/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-27T00:00:00 | money.cnn.com/ae88cdd10268dcb030c5c793982e446ca1542af557140f90c7e7a2111858554b.json |
[
"Heather Kelly"
] | 2016-08-26T13:47:50 | null | 2016-08-25T02:32:08 | Uber is testing a new feature where you pay $20 a month in order to get a fixed rate for all rides. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Ftechnology%2Fuber-plus%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160422111609-uber-breaking-news-2-780x439.jpg | en | null | Uber tests $2 flat rate fares and edges closer to public transit | null | null | money.cnn.com | It costs $2.25 to ride a city bus in San Francisco. Uber is testing a new flat-rate option that could make it a tempting alternative.
The ride-hailing company is experimenting with a new service in limited areas that will charge users a flat rate of $2 to catch an UberPool, where a car is shared with other riders going the same direction. If you want the whole back seat to yourself, an UberX will cost a flat-rate of $7.
Uber is testing out flat fares in a handful of U.S. cities as part of a new program called Uber Plus. To get the deal, a rider must first pay $20 for a month of up to 20 fixed-cost trips, or $30 for up to 40 trips. You'll be charged the flat rate in addition to the monthly fee.
Related: Uber tests program to help drivers save for retirement
However, the option is only available in San Francisco, Seattle, Boston, Washington D.C., Miami and San Diego for the month of September.
For some, the deal could be as cheap or cheaper than their daily commutes. Uber says it makes sense for anyone who uses the service more than two times a week, possibly based on average costs of Uber rides in those cities.
"We're always thinking about ways to make Uber an affordable, everyday option, and this is a small beta we're running as part of that effort," Uber said in a statement.
There are, however, some limitations. The rides do have to start and end in specific areas, and there's also the potential for unexpected costs.
Related: Is Uber's push for self-driving cars a job killer?
Uber still calculates the full fare in the background, based on its usual time and distance math. If your UberPool ride ends up with a value more than the $20 maximum, you'll pay any additional amount on top of the $2. Same for an UberX ride that costs over $25. But if your UberX ride costs less than the flat $7 fee, you'll be charged the lower amount.
The flat fee will stay the same during surge pricing, but the chances of going over the max are higher.
Since the pricing plan and flat fee is still in the experimental phase, drivers will be paid their normal rates. If it becomes a real feature, it's unclear how Uber would continue to cover drivers' pay. | http://money.cnn.com/2016/08/25/technology/uber-plus/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-25T00:00:00 | money.cnn.com/598964af8f90e0fe78bc71f358c492d8432bd65f8ae5064c31830a01b836734a.json |
[
"Brian Stelter"
] | 2016-08-26T14:57:53 | null | 2016-08-25T11:06:26 | On Friday morning the Roanoke, Virginia television station WDBJ will mark the one year anniversary of Alison Parker and Adam Ward's deaths with a moment of silence on the air. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Fmedia%2Fwdbj-shooting-one-year-later%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/150826114659-wdbj-shooting-parker-ward-780x439.jpg | en | null | What has changed since the WDBJ shooting one year ago | null | null | money.cnn.com | On Friday morning the Roanoke, Virginia television station WDBJ marked the one-year anniversary of Alison Parker and Adam Ward's deaths with a moment of silence on the air.
There are off-air tributes at the station as well. WDBJ is a changed newsroom after the televised ambush by an ex-employee that left Parker and Ward dead on August 26, 2015.
Ward was operating the camera and Parker was in the middle of a live report at a local tourism destination, Smith Mountain Lake, when the gunman approached. Both journalists were killed at point blank range. The tourism official Parker was interviewing, Vicki Gardner, survived, but was seriously injured.
The attack represented the first deaths of journalists on assignment in the United States in almost a decade.
Related: The day that changed WDBJ
One year later, the station is under new management. The news director and general manager who steered the newsroom through the crisis now have new jobs.
But Parker's boyfriend Chris Hurst, who anchors the 6 and 11 p.m. news, remains at the anchor desk.
He is off work this week because he and some of Parker's family members and close friends are on a week-long rafting and hiking trip in North Carolina.
"This is where she came every year for her birthday," Hurst said by phone on Thursday.
A rafting trip on the Nantahala River in North Carolina was one of Hurst's last memories with Parker before the shooting.
He said he expected Friday to be a "very difficult day because it reminds us of how she died and how utterly inhumane it was."
Hurst described what happened to Parker and Ward as "workplace violence," not necessarily related to their occupation in the news industry.
That said, the gunman did exploit the inherent vulnerabilities of a TV live shot. He approached Ward from behind, according to the body camera video that he published on the web before killing himself.
In the immediate aftermath of the shooting, local TV stations were concerned about copycat crimes. Some stations stepped up security for crews in the field. But there have not been systemic changes in the twelve months since the murders.
Related: Victim speaks on the tragedy, TV violence and looking 'ahead'
Confrontations occasionally take place between television reporters and bystanders. One such incident, involving a woman sucker-punching a reporter on live TV, happened in Philadelphia two months ago.
Hurst said broadcasters have a duty to "ensure the safety of their staffs out in the field." But there is only so much that can be done.
Earlier this summer WDBJ suffered a round of layoffs, an all too common occurrence in the news business. Most of the ten people who exited the station were videographers and other personnel who worked behind the camera.
There is increasing pressure to work as "one man bands," a term of art for journalists who set up the live shot, operate the camera and step in front of the camera to deliver the report -- jobs that used to be performed by two or three members of a team.
This pressure is by no means unique to WDBJ. But it may be especially sensitive within the newsroom due to Parker and Ward's deaths.
Two employees said on condition of anonymity that the "one man band" assignments are becoming more common but that news crews with multiple employees still handle some stories.
The station's new general manager Matt Pumo did not respond to a request for comment.
Jeff Marks, WDBJ's longtime general manager who was thrust into the national spotlight after the shootings, was prepared to retire this time last year.
At the time of the shootings, a plan was in the works for WDBJ to be acquired by Gray Television, a firm that owns stations in 51 markets across the country.
Marks was offered a corporate job at Gray, so he now hopscotches from station to station, but he'll be back at WDBJ for Friday's somber anniversary.
In the aftermath of the attack, he said, "I think we became firm in our resolve to live up to the standards that Adam and Alison tried to reach."
What he wants to impart to up-and-coming journalists now is that "this is a safe profession, as much as we're safe anywhere."
Compared to some other countries, journalists are free to operate across the United States. "If we're going to have this freedom, to operate freely and to say what needs to be said, then we need to find out what needs to be said," Marks said.
That's the message he said he is planning to convey at a journalism conference in September.
Related: Virginia tightens gun laws
Earlier this month WDBJ completed a memorial to Parker and Ward outside the station's entrance.
"As we come up on the one-year anniversary of their deaths, we hope to respect them by living the way they did -- with kindness and laughter," the station said in a Facebook post.
On the morning of the shooting, Hurst was asleep because he had worked the late-night shift the prior day. Ward's fiance Melissa Ott was in the control room producing the 6 a.m. newscast, which means she witnessed the shooting and the aftermath.
It was supposed to be Ott's last day at WDBJ. She had accepted a job at a station in Charlotte, North Carolina.
Ott is now working at that station, but has chosen not to speak about the shooting.
"Melissa is in the business so she understands everything that talking and not talking entails. I wholly respect her decision," Hurst said.
He pointed out that "she's had to make the same pitches before," meaning she has had to ask loved ones of other shooting victims for interviews.
Hurst and Ott were in touch this week — they pieced together a playlist of Parker and Ward's favorite songs and artists.
Q99, a local station in Roanoke, is playing the songs and dedicating Friday morning's broadcast to the two slain journalists. | http://money.cnn.com/2016/08/25/media/wdbj-shooting-one-year-later/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-25T00:00:00 | money.cnn.com/6e0dd59f6c37ee1eebbb4970928692e38d6a9f00753ef6309a41cbea042b007e.json |
[
"Paul R. La Monica"
] | 2016-08-30T17:37:48 | null | 2016-08-30T11:15:52 | Summer boys don't either apparently. The struggling mall-based retailer reported yet another quarterly loss as sales continue to slide at the flagship A&F stores as well as its Hollister locations. Will the company ever turn things around? | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Finvesting%2Fabercrombie-fitch-hollister-sales-earnings%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/150306093925-abercrombie-buzz-780x439.jpg | en | null | Summer girls no longer shop at Abercrombie & Fitch | null | null | money.cnn.com | Quick! Somebody call Mike "The Situation" Sorrentino of MTV's "Jersey Shore" fame. Abercrombie & Fitch might actually want him wearing their clothes in public again.
Abercrombie & Fitch reported a bigger-than-expected loss on Tuesday. Same-store sales at its A&F stores and Hollister chain fell in the second quarter too. The company also warned that the outlook for the rest of the year will be "challenging."
Abercrombie (or should I say Abercrumble?) & Fitch stock plunged nearly 20% in early trading on the news. A&F's stock is now down more than 30% this year.
Abercrombie & Fitch (ANF), like many other mall-based apparel retailers, has struggled to stay relevant. The song "Summer Girls" by LFO, which praised the look of girls in Abercrombie & Fitch, was released way back in 1999. Nobody's singing about A&F now.
Younger consumers are less interested in clothes with a company's logo on it and are instead opting for cheaper, fast fashion from the likes of H&M, Zara, Uniqlo and Forever 21.
Pacific Sunwear and Aeropostale both filed for bankruptcy this year. American Apparel did so last year. Gap's (GPS) sales are hurting. And more diversified retailers like Macy's (M), Kohl's (KSS) and JCPenney (JCP) are struggling to attract teens and young adults too.
Related: More trouble at the mall. Gap sales sink again
But investors were hoping that Abercrombie & Fitch might be able to turn things around thanks to the efforts of executive chairman Arthur Martinez, who ran Sears (SHLD) back when that retailer was still an American icon.
Under Martinez, the retailer has de-emphasized much of the logo-based apparel that were once hugely popular at A&F and Hollister.
The company also has toned down its controversial, overly sexualized imagery that was prevalent under the leadership of former CEO Mike Jeffries -- who left the company in December 2014.
Jeffries was criticized for comments he made about only wanting "cool, good-looking people" to wear his company's clothes. It wasn't until late 2013 before the company finally began to offer plus sizes.
A&F was also attacked for having young-looking, scantily-clad models in many of its catalogs and advertisements.
Related: Retailers all across America are closing stores
An ex-pilot for the company-owned Gulfstream jet (since sold) said in an age discrimination lawsuit filed against the company a few years ago that Jeffries had an aircraft manual that listed dress requirements for male models working on the plane.
But even though A&F has been changing its image under Martinez, consumers aren't flocking back to the stores. The company's overall sales have now fallen for 14 quarters in a row.
Martinez said in the earnings release that lower traffic at the its flagship stores were weighing on A&F's results.
He added that weak sales at stores in popular tourist locations in the U.S. are also hurting the company. Economic uncertainty in Europe and Asia and a stronger U.S. dollar have made foreign travelers less willing to come to the U.S. to shop.
Related: Nearly 44,000 retail workers have been laid off in 2016
So can A&F turn things around? Or will investors start longing for the days of Jeffries again? Sex did sell at the company after all ... for a time at least.
Martinez urged investors to remain patient.
"We are focusing on the right priorities and we expect to see traction in our business as we introduce new product and invest in marketing to drive awareness and relevance for our brands," he said, while adding that it is "a challenging environment."
Wall Street is still skeptical though.
Cowen & Co. analyst Oliver Chen is taking a wait-and-see approach. He wrote in a report Tuesday morning that "changes will take time as the company needs to generate renewed awareness and traffic."
FBR & Co. analyst Susan Anderson noted that it was also troubling to see that sales were down in both the U.S. and the company's international stores. So the company's problems may run deeper than a decline in tourist shoppers in America.
Related: Why Americans aren't shopping till they drop
Analysts do seem to appreciate the fact that Martinez has toned things down at both the A&F and Hollister stores. But the company may now wind up being just a little too plain vanilla. There's nothing to make it stand out.
"A&F still has much work before its brands are restored to full health," wrote Neil Saunders, CEO of retail research firm Conlumino, in a report Tuesday.
"The brands still need a stronger sense of identity and focus in what remains a very crowded and competitive marketplace," Saunders added.
Don't expect A&F to bring back its controversial clothing anytime soon. But the company clearly needs to do something to convince young consumers that A&F and Hollister apparel can be cool once more. | http://money.cnn.com/2016/08/30/investing/abercrombie-fitch-hollister-sales-earnings/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-30T00:00:00 | money.cnn.com/ed0870f680b9297cad2ad12b4e6597224448370c0e9427851b69dbfb3f17102b.json |
[
"Jackie Wattles"
] | 2016-08-29T21:40:15 | null | 2016-08-29T05:08:18 | Southwest pilots have been negotiating pay raises and improved contract terms with the airline for more than four years. Now, there's a sign the gridlock is ending. The union said Monday they've reached an 'agreement in principle.' | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fpf%2Fjobs%2Fsouthwest-airlines-union-deal%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160824164819-pilots-pickets-780x439.jpg | en | null | Southwest pilots reach tentative deal with airline after 4 years of talks | null | null | money.cnn.com | Southwest pilots may finally get the wage hike they've been demanding.
After four years of negotiations, the Southwest Airlines Pilots' Association said Monday that the union has reached an "agreement in principle" with the airline.
The deal would give pilots a "compensation package that is market rate compared to Delta, United, and American," according to the union, as well as retroactive pay raises back to 2013.
Related: Airline employees are getting huge pay raises
It's not clear how large the pay raises would be, but the union had been seeking wage hikes totaling 32% through 2019.
At the same time, "executives have enjoyed nearly 50% in average raises," the union said in a statement last week, "and shareholders have enjoyed nearly $6 billion in stock buybacks, while Southwest pilot wages have been stagnant since 2011 and are well behind industry standard wages."
Monday's tentative deal comes after pilots last week picketed at Dallas Love Field airport, which serves as a hub for Southwest.
"[O]ur negotiators were able to bring back an agreement worthy of review and discussion by our board of directors," union president Jon Weaks said in a statement.
But it's not a done deal. The union will meet to review the offer in mid-September, and then the terms must be voted on by the union's members. That won't happen earlier than November. | http://money.cnn.com/2016/08/29/pf/jobs/southwest-airlines-union-deal/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/62f8917f0474fac2782256ce04fb81d6488e52220ef9f9f5f0f06239fb2213ce.json |
[
"Alex Koppelman"
] | 2016-08-28T17:39:15 | null | 2016-08-28T12:30:04 | Kathleen Carroll of the AP is defending her organization's controversial investigation into meetings Hillary Clinton took while Secretary of State. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F28%2Fmedia%2Fkathleen-carroll-defends-ap-clinton-investigation%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160828124029-clinton-foundation-ap-story-00020409-780x439.jpg | en | null | AP's Kathleen Carroll defends Clinton investigation | null | null | money.cnn.com | Associated Press Executive Editor Kathleen Carroll is defending her organization's controversial investigation into meetings Hillary Clinton took while Secretary of State -- but she admits a tweet the AP sent out about its story was "sloppy."
"I do think it's interesting," Carroll said of the AP's investigation and its findings during an interview with Brian Stelter on CNN's "Reliable Sources" Sunday. "We didn't say it amounted to the end of the world, we said this is an important and interesting thing that people should know about, Clinton's tenure in the highest office that she's ever held, Secretary of State. Who did she meet with? Who are those people?"
The investigation, and an article the AP published about it, came under scrutiny this week.
Related: Associated Press botches Hillary Clinton report and response
In examining people Clinton had met with during her tenure at the State Department and how many of them had given to the Clinton Foundation, the AP had excluded those with whom Clinton would be expected to meet as Secretary of State -- U.S. government employees and officials from foreign countries, for example. Critics charged that this painted a misleading picture of how much priority Clinton gave to the foundation's donors.
That was especially true of a tweet the AP sent promoting its story, in which it did not disclose the meetings it had left out of its calculations.
BREAKING: AP analysis: More than half those who met Clinton as Cabinet secretary gave money to Clinton Foundation. — The Associated Press (@AP) August 23, 2016
"We're a lot better at breaking stories and covering news and gathering video and taking photographs than we are on tweets," Carroll told Stelter. "This one could have used some more precision."
However, asked if that meant she regretted the tweet, Carroll said, "No. If we felt it was wrong, we would have taken it down right away." Pressed again, she said, "I think it was sloppy."
Carroll did defend the story itself, though, and put some of the blame on the Clinton campaign and the State Department for not being more forthcoming with Clinton's schedule as Secretary of State and for not answering questions about the investigation's findings.
"We ask them questions, they are unresponsive," Carroll said. "They had been unresponsive from the State Department until we sued them to get the documents, so you know we're glad to have plenty of conversations with people about that."
She added: "Anything they want to say to us that we can include in the story that would help illuminate their point of view, we'd be glad to include." | http://money.cnn.com/2016/08/28/media/kathleen-carroll-defends-ap-clinton-investigation/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-28T00:00:00 | money.cnn.com/6482d6c5a77c5be270f450e113807b157a5fa2827468e89eea261a95f7648847.json |
[
"Matt Egan"
] | 2016-08-30T17:40:25 | null | 2016-08-30T12:04:35 | Global central banks are showing signs of gold buying fatigue. Gold demand at these powerful institutions recently dropped to a five-year low. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Finvesting%2Fgold-demand-drops-central-banks%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/140922155539-gold-coins-780x439.jpg | en | null | These powerful gold buyers are losing their appetite | null | null | money.cnn.com | Imagine having so much gold that you lost your desire for more.
Global central banks have shown a seemingly-insatiable demand for gold since 2010, building up an enormous treasure chest of the precious metal.
But now there are signs of gold-buying fatigue from these powerful government institutions.
Gold purchases by global central bankers plunged by 40% during the second quarter, according to World Gold Council statistics. Last quarter was actually the weakest pace of gold buying by central banks since 2011, the stats show.
The five-year low for central bank gold purchases was earlier reported by Bloomberg News.
So why does it seem like gold is going out of style with the central banks?
Related: Why Leonardo DiCaprio is backing man-mad diamonds
The World Gold Council noted a "more limited" gold appetite in recent months from emerging market central bankers. It's likely a reflection of fewer dollars to invest at developing countries, where exports have plunged due to depressed prices for raw materials like crude oil, copper and iron ore.
"Emerging markets are dealing with a lot of headwinds. So you're going to see a slowdown in all of the assets they purchase," said Ezechial Copic, director of central banks and public policy at the World Gold Council.
Another problem is that the price of the yellow metal has increased sharply. Gold prices have surged 24% this year, thanks in part to bouts of turbulence in financial markets that left scared investors fleeing to alternatives. Gold tends to do well during times of volatility.
The good thing is that the value of gold being hoarded by central banks is also rising. They already hold a lot of it -- gold now makes up 3% of total reserves at emerging market central banks, up from zero in 2007.
Still, some central banks have actually cut their holdings. Central banks in Germany, Jordan and Ukraine were net sellers of gold during the second quarter.
Don't feel bad for central banks, though. They are sitting on an incredible 32,800 tons of gold, equaling about $1.4 trillion, according to the World Gold Council. That's the biggest amount since 2013. | http://money.cnn.com/2016/08/30/investing/gold-demand-drops-central-banks/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/958d51badfb118c89270b90ed2655213030b99c5ac33118eb2e5e65102bea900.json |
[
"Ivana Kottasova"
] | 2016-08-26T15:47:46 | null | 2016-08-26T11:07:29 | Vogue Brazil is under fire for photoshopping images of able-bodied models to make them look like amputees for a Paralympics campaign. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Fparalympics-vogue-brazil%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826093511-vogue-brasil-instagram-780x439.jpg | en | null | Vogue Brazil turns models into amputees to promote Paralympics | null | null | money.cnn.com | Vogue Brazil is under fire for altering images of models to make them look like amputees.
It published pictures of Brazilian actors Cleo Pires and Paulo Vilhena under the headline "We are all Paralympians." The magazine said it was trying to boost interest in the upcoming Paralympic Games in Rio.
Just 20% of tickets have sold for the Paralympics so far, even though they only cost $3 each, the magazine said.
The actors' bodies were altered to look like those of two Brazilian Paralympians, table tennis player Bruna Alexandre and sitting volleyball player Renato Leite.
Alexandre had her right arm amputated when she was three months old and Leite has a prosthetic leg.
Related: Slow ticket sales for Rio Paralympics
But many readers criticized the decision to use digitally-altered images of models rather than Paralympians.
"I think that the campaign should have been done with the athletes themselves, showing their strengths and efforts to reach the games," said Andre Santos, one of the thousands of people who took the magazine to task on its website and Instagram profile.
Auction alert: You can buy gear from the Rio Olympics
Vogue Brazil tried to explain its motive in a second article. It said the idea for the campaign came from Pires, an ambassador for the Paralympics.
"We knew it would be a punch in the stomach, but it was for a good cause, after all, almost no one bought tickets to see the Paralympic Games," Clayton Carneiro, art director of Vogue Brazil, said in the statement.
Despite the criticism, Alexandre said she was "proud to be part of the campaign."
Vogue Brazil has a circulation of 62,000 copies, according to the publisher. The magazine's online version has nearly 3 million unique visitors a month.
The magazine is published by Conde Nast international. It declined to comment on the matter. | http://money.cnn.com/2016/08/26/media/paralympics-vogue-brazil/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/32b1b95bb65398315bd8547d976b28ab0fdbe780d9f53438912af891376e34c1.json |
[
"Samantha Murphy Kelly"
] | 2016-08-29T13:39:32 | null | 2016-08-29T09:00:16 | Fitbit has added two new fitness trackers to its lineup: the Charge 2 and the swim-proof Flex 2. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Ffitbit-flex-2-charge-2%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160827162941-flex-2-780x439.jpg | en | null | Fitbit unveils two new fitness trackers -- the Charge 2 and the Flex 2 | null | null | money.cnn.com | Fitbit wants to keep your fitness trackers from ending up in a drawer after a few months of use.
The company added two new devices to its tracker lineup on Monday: the notification-rich Charge 2 ($149) and the swim-proof Flex 2 ($99).
The models -- sleeker and smarter than previous versions -- can be dressed up or down based on the occasion. In the Flex 2's case, you can even leave it on for laps in the pool or while taking a shower (it's about time).
But the overall message for both is clear: Fitbit (FIT) never wants you to take them off.
While the devices aren't revolutionizing the tracking industry, each iteration is undoubtedly a step forward. And true to its mission, the updates make it harder for you to tire of them -- one of the biggest challenges companies like Fitbit face.
Fitbit will eventually phase out its existing Charge HR and Flex trackers in favor of these new models, but the price tag will remain the same. The good news is you'll now get more colorful options to choose from, along with some decent accessories, and far more advanced capabilities.
Here's a closer look.
The Charge 2
The Charge 2 is Fitbit's go-to tracker for more than just casually monitoring steps. It pushes real-time updates like calories burned and your heart rate data directly to your wrist, as well as call, text and calendar alerts (the Charge and Charge HR only offered call notifications). It's a solid way to see everything you need without constantly pulling out your smartphone and checking the Fitbit app for stats.
The black-and-white display is four times bigger than the previous model, but you can't compare it to some of the higher-end, more colorful smartwatches on the market. Then again, this option -- not quite a smartwatch -- is a solid $200 cheaper.
The Charge 2 includes built-in auto-tracking so it knows when you're out for a walk, running or doing yoga versus riding a bike or lifting weights. Meanwhile, a new interval workout feature guides you through high-intensity exercises and rest periods -- a solid feature for those interested in circuit training or personalized boot camps.
But in many ways, the Charge 2 is playing catchup to features already on other devices. For example, it now has a baked in Relax app that takes you through breathing exercises to clear your mind and reduce stress. You'll also find connected GPS capabilities that pairs with your smartphone for mapping out running routes -- another feature available on competing trackers. The same goes for the gentle reminders to move after you've been sedentary for a bit.
Related: This tattoo that controls a smartphone may be a glimpse of the future
Perhaps the most unique new feature is one that calculates your fitness score based on your VO2 max, a measurement of how your body uses oxygen while you're working out. It's often considered the gold standard of revealing your overall fitness health.
You'd typically have to go into a lab determine your score, but Fitbit figures it out by looking at your user profile data, heart rate and exercise details.
It also contextualizes the data so you can see how you stack up to those of the same gender and age group, and provides feedback on how to improve your score, like suggesting you increase workout intensity and frequency by a specific amount.
The Flex 2
For those looking to pay less than $100 for a fitness tracker, the Flex 2 is unmatched.
Similar to the original Flex -- a game changer for wearables when it debuted in 2013 -- the sensor pops out of the band and can be inserted into other styles, including bracelets and necklaces. Now, it's 30% slimmer and can handle dunks in the pool or ocean (up to 50 feet). It's also Fitbit's first true swim tracker, allowing users to track laps, distance, calories burned and duration.
Although the Flex 2 tries to differentiate itself with new bells and whistles, it falls short in some ways. For example, the device includes a series of LED lights at the top of the band which send out color-coded notifications and unique vibrations.
While this is smart in theory, it's confusing in practice. Blue lights signal text and call notifications, while purple is a reminder to move. A flash of green means you've hit your goal for the day and yellow is associated with the silent alarm.
Sure, you might learn these colors over time, but in the first five days of testing, it was hard to keep track.
Related: Jawbone says Fitbit employees stole 335,191 more of its files
The Flex 2 isn't as smart as the Charge 2 and with no heart-rate tracker, it doesn't give a full picture of your overall health. Plus, you'll need to keep your phone close for activity updates.
The device comes with seven sporty bands, from vibrant yellow to subtle pink, but you can buy add-on bands and accessories. Fitbit is continuing its partnership with Tory Burch and adding one with Vera Wang.
If you're already a Fitbit owner and don't want to splurge for an upgrade, the company will push out a software update in the near future. The Fitbit Blaze will support notifications from third-party apps like Gmail, Facebook, Instagram, Twitter, Slack, Snapchat and others.
New bands will also be available for the Blaze and fashion-forward Alta tracker this fall. | http://money.cnn.com/2016/08/29/technology/fitbit-flex-2-charge-2/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/fb1c700224a6ece21323aaac78ce8058cd50df3ee5f655960ae2e8599d6a533b.json |
[
"Matt Mcfarland"
] | 2016-08-28T23:39:17 | null | 2016-08-28T07:32:57 | John Ellenby was ahead of the game when he sold a bulky laptop in 1982. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F28%2Ftechnology%2Flaptop-john-ellenby%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160828163402-laptop-compass-780x439.jpg | en | null | The laptop's godfather dies at age 75 | null | null | money.cnn.com | It's easy to take the modern laptop for granted. Hundreds of millions sell every year. The most affordable models are even less expensive than high-end smartphones. It's near impossible to walk into a coffee shop, workplace or college lecture hall without seeing a laptop.
Yet a generation ago, a computer that opened up to reveal a keyboard and screen was a radical and tremendously expensive idea.
In 1982, British engineer John Ellenby made waves when his company, Grid Systems, released the Compass, a clamshell-like computer. Ellenby died August 17 at the age of 75, according to his son Thomas, who spoke with CNNMoney. The New York Times first reported Ellenby's passing.
Today, the Compass's appearance generates snickers. It was heavy enough to be curled like a dumbbell. It had a foldout leg that propped up the back of the machine and helped prevent it from overheating. The Compass's screen resembled a blurry postage stamp. It cost a fortune -- $8,150 -- which is $20,324 in today's dollars.
Related: Clamshell! The story of the best computing form factor ever
While too expensive for the average person, it was popular with government agencies such as NASA.
Ellenby was ahead of his time. In the early '80s, desktop computers were only just starting to appear, but Ellenby was already on to the next trend. Steve Jobs didn't first unveil Apple's Macintosh -- the block-like desktop computer -- until two years after the Compass first arrived.
And it wasn't until May 2005 that laptops surpassed desktop computers in sales.
Ellenby's visionary nature reemerged later in his life. He cofounded GeoVector in the 1990s, which researched augmented reality, where computers overlay information on top of what our eyes see naturally.
Ellenby lived just long enough to see the breakout success this summer of Pokemon Go, which relies on augmented reality. Once again, Ellenby's instincts were proven right. | http://money.cnn.com/2016/08/28/technology/laptop-john-ellenby/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-28T00:00:00 | money.cnn.com/b4b06e2251164abe1779a2aaf97ef111e3facb8096aa6af5295aa5b0caeb2b21.json |
[
"Bill Carter"
] | 2016-08-29T23:37:41 | null | 2016-08-29T04:51:38 | "TV (The Book)" review -- a look at the new book by Alan Sepinwall and Matt Zoller Seitz | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fmedia%2Ftv-the-book-review%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829163636-tv-the-book-new-780x439.jpg | en | null | 'TV (The Book)': the medium finally gets the book it deserves | null | null | money.cnn.com | A couple decades ago it might have been one of the jokes in the list of "World's Shortest Books": A collection of the greatest TV shows of all time.
Now, in the midst of a sustained run of outstanding work across the ever-expanding shows-on-screens industry, you can read 400 pages on the subject of great television shows and still feel some worthy titles were left out.
Those 400 pages come from longtime TV critics Alan Sepinwall and Matt Zoller Seitz, who have taken on the assignment -- which truthfully seems more fun than challenge -- of not only naming and analyzing the top 100 shows in the history of the medium, but actually ranking them. As in: "Freaks and Geeks" is a greater achievement than "The Dick Van Dyke Show." And "In Treatment" beats out "The West Wing." And "Batman" somehow scores higher than "Gilmore Girls." (Not with my wife, it doesn't.)
At least one point of "TV (The Book)" -- the parentheses are part of the title -- is to stimulate the same kind of argument that attends the evaluations of other archetypes of American culture, like outfielders (Williams or Musial); rock icons (Elvis or Bruce); or movie candy (Sno-Caps or Twizzlers.) That is to say: it's going to have readers comparing and contrasting their own preferences, accompanied by shock or awe about the authors' opinions.
And when you disagree with some of the judgments, as you probably will, it only means you care more about television now more than ever before, which is really the reason to write and read a book like this.
But Sepinwall and Zoller Seitz (I know and respect both men as professionals in a field I have long toiled in myself) are really not in this for the value jousting. This is not a series of seat-of-the-pants pronouncements of personal opinions. And aside from some meaty back and forth disquisitions about the merits of the true contenders for the ultimate prize, there is not a lot of explanation for why, say, "Arrested Development" gets a higher grade than "The Honeymooners" or "The Mary Tyler Moore Show."
The explanations really lie in the book's appendix, which is a big chart of number scoring -- in a system not unlike judges' scores in the old gymnastics contests: 10 is perfection.
The authors have taken seriously their attempt to find a system to evaluate TV shows based on a range of criteria.
The criteria amount to the basics of great narrative art. (There are no sabermetrics involved.) Was the show consistent? Did it influence what followed? Was it innovative? The average television viewer might only decide they flat-out liked a show and never consider -- or ever care about -- those elements. But Sepinwall and Zoller Seitz wanted a way to separate shows of relatively comparable worthiness.
Related: How HBO stole back "The Night Of," its next big show
Certainly other criteria could have been included -- such as sustained success, or awards, or how shows hold up over time. ("Mary Tyler Moore" might have edged out "Arrested Development" in that case, for example.)
Sepinwall told me his original preference would have been simply to write a book about the greatest shows, in no special order. And Zoller Seitz, also a long-time film critic, said he always resisted putting together rankings like lists of the year's top ten movies, which seemed forced and hopelessly arbitrary. But the book's editors urged them to go with a true reckoning. "They told us: people are going to want to know what was the best," Sepinwall said.
It's the American way: We keep score.
Not that it was easy in this case. Sepinwall and Zoller Seitz found themselves splitting the hairs on a hare to separate the shows at the very top. They wound up with five shows with the top score in their system: 112 points. It's not really being a spoiler to announce their results because they do not write cute about them: there is no countdown in the book to the circle of glory; they start the book out at the top.
The ultimate assessments among this version of the Final Five are thrashed out in some lively point/counterpoint writing between the two critics, where they decide why "Breaking Bad" can't be the best show of all time (some will surely disagree); why "Cheers" is not quite the best comedy (nor is "Seinfeld," which finished out of the top-5 money); and why "The Wire," which has long been unchallengeable among some critics, was nosed out in this evaluation by "The Sopranos."
As it happens, all of them lost out to "The Simpsons," which gets the golden remote-control scepter as the all-time TV champ. The choice, while entirely legitimate, seems to buck some of the authors' own standards of excellence, since the show's longevity has inevitably damaged its consistency. But both men ardently defended the classic comedy series from some devil's advocate questioning about whether animated characters can really match up performance-wise with Bryan Cranston, James Gandolfini and Edie Falco.
Actually, in some ways being a pure fan matters even to serious critics. Sepinwall argued that even in its diminished latter years "The Simpsons" would be a contender. He has seen all 596 episodes of the series.
"The Simpsons" is also one of the most successful shows ever on television. But success was not a factor that helped elevate shows to greatness for the pair. Some of the top shows, like "The Wire" and "Man Men" (rank: 6) never posted impressive audience totals. But many others in the top ten were among TV's biggest all-time hits like "Seinfeld" (7th), "I Love Lucy" (8th) "All in the Family"(10th). Another massive hit, "M*A*S*H" was 11th.
But the authors also displayed fondness for shows with less profound commercial status, like the critical darling "Arrested Development" and a show that many critics miss perhaps more than any other, the drama "Deadwood." Not only do Sepinwall and Zoller Seitz rank the HBO western all the way up in 9th place (some shows behind it: "NYPD Blue"-31st; "Lost"-24th; "The X-Files"-20th; and "The Twilight Zone"-14th) but Sepinwall said if HBO had not inexplicably ended "Deadwood" when it did after three seasons "it would probably be considered for the top spot."
As for shows with outrageous commercial success, some got mentioned in the book's category of "A Certain Regard" -- like the hugely popular night-time soap, "Dallas" -- but others were cold shouldered entirely. That was the case with "C.S.I.," which, during its long run was by far the most-watched show in the entire world. It is not mentioned in the book. Zoller Seitz said police shows were well represented by numerous other contenders. He did acknowledge one "conspicuous omission," the recent medical drama, "House."
It's probable that fans of television will think of many more of their favorites that didn't win any regard at all in "TV (The Book)." But that's as it should be: not because the shows were necessarily unworthy, but because this is, after all, the assessment of two individual viewers. They just happen to be extremely informed viewers with both a comprehensive take on the art form of television and the skill to write compellingly about their choices.
And sometimes they are even right.
"TV (The Book): Two experts Pick the Greatest American Shows of All Time," a book from Grand Central Publishing, is on sale September 6. | http://money.cnn.com/2016/08/29/media/tv-the-book-review/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/d3b7d7b103b96048d826791ee0355810b09bdc2685c3cfbfdd6ddd70c9f336ca.json |
[
"Charles Riley"
] | 2016-08-29T13:39:36 | null | 2016-08-29T08:19:23 | Mark Zuckerberg has added a very special event to his tour of Italy: a meeting with the Pope. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fpope-francis-mark-zuckerberg-facebook-italy%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829074607-mark-zuckerberg-pope-francis-780x439.jpg | en | null | Mark Zuckerberg gives Pope Francis a Facebook drone | null | null | money.cnn.com | What do you give the Pope if you're a tech CEO?
Mark Zuckerberg handed over a Facebook drone when he, and his wife Priscilla Chan, met Pope Francis on Monday.
"It was a meeting we'll never forget," Zuckerberg said. "You can feel [the Pope's] warmth and kindness, and how deeply he cares about helping people.
Zuckerberg updated his personal page on Facebook (FB, Tech30) with a photo of himself giving the Pope a model of Aquila, a solar-powered aircraft that Facebook hopes will expand Internet access in developing countries.
"Together they spoke about how to use communications technology to alleviate poverty, encourage a culture of encounter, and to communicate a message of hope, especially to the most disadvantaged," the Vatican Press Office said in a statement.
Zuckerberg announced his trip to Italy last week after the country was struck by a devastating earthquake. He has scheduled a live question and answer session for later on Monday, and said he was "looking forward to spending time with our Italian community."
The tech CEO has said Rome is a special city to him. He honeymooned there with Chan, and says he is a student of Latin and Classical history.
Zuckerberg also posted a photo of himself running by the Colosseum.
"It's great to be back in Rome! We started the day with a run past the Circus Maximus and House of Augustus up to the Colosseum. It's pretty amazing to run on roads in the city that helped invent them," he said.
Over the weekend, Zuckerberg posted an update and photo from the wedding of Spotify co-founder Daniel Ek, which was held near Lake Como in northern Italy.
Related: In case of emergency, open Facebook
Usually the act of a politician, visiting a country after a disaster would fit with Zuckerberg's recent push to paint himself as a sort of Silicon Valley statesman. He has been carefully crafting his image through Facebook posts, Q&As and public trips to places like China.
The social network has also taken on an unexpected role in international disasters. After events like earthquakes, hurricanes, or bombings, people let friends and family know they're OK with Facebook's Safety Check feature.
-- Livia Borghese and Heather Kelly contributed reporting. | http://money.cnn.com/2016/08/29/technology/pope-francis-mark-zuckerberg-facebook-italy/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/8f542238cf40eb3beb9961a44a053f335dda232bded19bdb2ad9eb18c7911882.json |
[
"Ahiza Garcia"
] | 2016-08-30T17:40:34 | null | 2016-08-30T01:12:50 | The U.S. Open offers one of the coolest summer jobs. Being a ball person pays minimum wage but people wait in line for hours just to try out. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Fnews%2Fus-open-ball-person-summer-job%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829151953-us-open-ball-1-780x439.jpg | en | null | Coolest minimum wage job: Ball person at the U.S. Open | null | null | money.cnn.com | The biggest names in tennis are competing for millions of dollars at the U.S. Open. But there's another fierce contest on the courts -- for the chance to be a ball person.
The U.S. Open is the only Grand Slam tournament that pays its ball people, although they're only making $9 an hour, New York state's minimum wage. For most of them though, the job isn't about the money -- it's getting to be on the court with their heroes.
"It's the best three weeks of my life by far," high schooler Madison Callinan said. "I get paid to wear Ralph Lauren and I have the best seat in the house, right on the court. It's fantastic."
Callinan, a second-year ball person, said she treasures her time on the court.
"Even though it's right before school, and I walk into school like an absolute zombie, I wouldn't want to be anywhere else."
Eitan Darwish, also a veteran, said he still gets nervous.
"I always have butterflies because it's really exciting to be able to work with the players no matter who it is," he said. "It's just an awesome experience."
Leaf Fagerberg is a rookie this year. "I think this is the best job I've ever had," he said.
Related: Gender gap in U.S. Open ticket prices narrows
More than 400 people tried out this year, waiting in line for hours for the chance to show off their skills for just a few minutes.
Hopefuls have to be at least 14 and demonstrate that they can throw, catch and run. They also have to be agile and show they can pay attention and make quick decisions on the court. The goal is to get the ball off the court as quickly as possible.
After a couple of call backs, the group came down to 240 ball boys and girls, two-thirds of whom are veterans. Anyone who's previously worked at the Open as a ball person doesn't have to try out -- but they can still get cut if their performance isn't up to snuff.
Related: U.S. Open serves up biggest prizes in tennis history
Despite how hard ball people work to get on the court, few fans will actually notice them.
"If you don't notice them they're doing a great job," said Tina Taps, the director of the U.S. Open's ball person operations. "They work so efficiently, so quickly, so quietly."
Taps added that they might draw more attention than usual this year, since they're dressed in neon. Their outfits, which are designed by Polo Ralph Lauren, are theirs to keep.
Each ball person gets two sets of shorts, socks and shirts as well as a hat, sneakers, a jacket and pants. The women also get a pair of leggings.
"This equipment is probably worth more than the paycheck I get," Darwish said.
Just like the players, throughout the tournament the ball people are trying to work their way up from the outer courts, where the lower profile matches take place, to Louis Armstrong, the Grandstand and finally to marquee matches and the finals at Arthur Ashe Stadium.
"That's the ultimate goal for any ball person," said Taps. "They want to be able to get on Ashe." | http://money.cnn.com/2016/08/30/news/us-open-ball-person-summer-job/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/e4a0ea514998be027433d5e4c7e0e31766e4b58a19263e5842820f7e8cf34c78.json |
[
"Alanna Petroff"
] | 2016-08-26T14:58:03 | null | 2016-08-26T08:08:35 | Richard Branson said he's happy to be alive after crashing his bike in the British Virgin Islands. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fnews%2Frichard-branson-bike-crash%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826125556-richard-branson-bike-crash-accident-780x439.jpg | en | null | Richard Branson bike crash: 'I thought I was going to die' | null | null | money.cnn.com | Richard Branson says he's happy to be alive after a harrowing bike crash earlier this week.
The outspoken billionaire behind Virgin Group said his life flashed before his eyes as he was launched off his bike while cycling on the British Virgin Islands.
Branson said he was heading down a hill when his bike hit a speed bump, throwing him into the air.
"I really thought I was going to die," he said in an online blog post. "Fortunately my shoulder and cheek took the brunt of the impact, and I was wearing a helmet that saved my life."
He suffered a cracked cheek and some torn ligaments, he said. The British entrepreneur posted photos of his bruised and bloody face.
Branson has a taste for adventure as well as a flair for business. He crossed the Atlantic ocean in a hot air balloon in 1987. He also set a record for the fastest crossing of the English Channel in an amphibious vehicle in 2004.
The cycling trip was part of his training for a month-long Virgin-branded fundraising event.
Branson said he's trying to see the bright side of the accident.
"My attitude has always been, if you fall flat on your face, at least you're moving forward. All you have to do is get back up and try again. At least I'm practicing what I preach -- though a little too literally!"
Branson said the crash happened on the fifth anniversary of a fire in August 2011 that destroyed his Necker Island home in the Caribbean.
-- CNN's Mahatir Pasha contributed to this report. | http://money.cnn.com/2016/08/26/news/richard-branson-bike-crash/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-26T00:00:00 | money.cnn.com/3371d99a62b4dafdd176642e1bcd6ccfce2a0675f7c7e46438011ce5cf8514c1.json |
[
"Sophie Morlin-Yron"
] | 2016-08-30T11:40:26 | null | 2016-08-30T07:02:21 | A Santa Clara-based company is creating jewelry-grade diamonds in a lab, using a plasma reactor that reaches temperatures as hot as the sun. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fdiamond-foundry-leonardo-dicaprio%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826105527-diamond-foundry-three-diamonds-780x439.jpg | en | null | Why Leonardo DiCaprio is backing man-made diamonds | null | null | money.cnn.com | There may be a new gem among Silicon Valley's glittering startup scene. A Santa Clara-based company is creating jewelry-grade diamonds in a lab, using a plasma reactor that reaches temperatures as hot as the sun.
Natural diamonds are made from pure carbon and form over billions of years under high pressure and temperature, at depths of over 100 km in the Earth's mantle. But Diamond Foundry grows its stones inside a plasma reactor, atom by atom, from a tiny slice of a "mother diamond" mined in Canada. The process takes about a month.
The idea is to produce diamonds that are indistinguishable from their natural counterparts, but free of the controversies associated with real diamonds.
Related: World's most expensive rough diamond sells for $63 million
The diamond industry has been tainted by its association with "blood diamonds," which are mined to fund conflict and civil war. The profits have been used by warlords and rebels to buy arms during conflicts in Angola, the Democratic Republic of Congo (DRC) and Liberia. As well as diamonds fueling conflict, thousands of men, women and children in countries such as Sierra Leone have been used as slaves to extract diamonds using primitive, back-breaking methods.
The Kimberley Process, which regulates the trade of rough diamonds, says conflict diamonds make up only 0.1% of the world's current production. But buying from Diamond Foundry should give consumers total peace of mind.
"We have sustainable diamonds that have none of these practices involved," says Diamond Foundry's Austrian-American CEO and founder Martin Roscheisen.
When their solar energy company Nanosolar folded in 2013, Roscheisen's team of MIT, Stanford and Princeton schooled engineers needed a new project focusing on sustainability. "We like businesses that do good, in addition to being profitable," explains Roscheisen.
After two years of research and development, the company launched its diamonds in November 2015. Teaming up with cutters and designers, it sells engagement rings and loose diamonds of various cuts online.
High-profile investors
The company raised capital of over $100 million from 12 billionaires, including Twitter founder Evan Williams and actor and environmentalist Leonardo DiCaprio, who contacted Diamond Foundry after hearing about them.
"Nobody knew about us then, but it's pretty rare for Silicon Valley to have a tech company focused on diamonds, so word of mouth was going around," says Roscheisen.
DiCaprio, who starred in the 2007 film "Blood Diamond," which explores the conflict around the mining industry in war-torn regions of Africa, has endorsed the company's ethical approach to diamond production.
"Proud to invest in Diamond Foundry -- a co reducing human & environmental toll by sustainably culturing diamonds," the actor tweeted in November.
A novel approach
There are other companies out there making synthetic diamonds, but Diamond Foundry's approach is a novel combination of high-quality stones, bespoke cuts and environmentally conscious energy usage, says Roscheisen.
The plasma produced by its reactor is around 10,000 degrees Fahrenheit -- as hot as the outer core of the sun, Roscheisen explains, describing it as "a sun on Earth." It is a costly and energy-intensive process, but the use of solar and hydropower results in a zero carbon footprint, according to the company.
In terms of the technology, Roscheisen says what sets it apart is the ability to produce high-quality diamonds, thanks to a method involving high temperatures, as opposed to high pressure, and a cooling technology that results in pure and large stones.
In demand
More production facilities are planned in San Francisco and London. For now, the Santa Clara site produces 1,000 carats a month, which is between 150 and 300 gems from every two-week batch. So far, the largest it has grown was a 12-carat stone.
Demand exceeds supply, says Roscheisen. "Everything we produce sells out within two weeks," he adds.
The lab-grown gems cost the same as mined diamonds, with the online price set at 10% to 15% below market price, according to the company. A loose diamond from its online shop costs from $305 for a 0.38 carat round-cut gem to $23,000 for a 2.30 carat gem.
They come certified by the Gemological Institute of America and are as real as those dug out of the ground, says Roscheisen.
"A diamond is a diamond," says Roscheisen. "Scientifically it is a tetrahedral carbon allotrope, and it is the same thing whether mined or man-made." | http://money.cnn.com/2016/08/30/technology/diamond-foundry-leonardo-dicaprio/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/994c11a07d4339ab9a69754270215c2a7276cb8ff2f44b7484788e70f32345d3.json |
[
"Brian Stelter"
] | 2016-08-26T13:52:12 | null | 2016-08-25T11:06:26 | On Friday morning the Roanoke, Virginia television station WDBJ will mark the one year anniversary of Alison Parker and Adam Ward's deaths with a moment of silence on the air. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Fmedia%2Fwdbj-shooting-one-year-later%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/150826114659-wdbj-shooting-parker-ward-780x439.jpg | en | null | What has changed since the WDBJ shooting one year ago | null | null | money.cnn.com | On Friday morning the Roanoke, Virginia television station WDBJ marked the one-year anniversary of Alison Parker and Adam Ward's deaths with a moment of silence on the air.
There are off-air tributes at the station as well. WDBJ is a changed newsroom after the televised ambush by an ex-employee that left Parker and Ward dead on August 26, 2015.
Ward was operating the camera and Parker was in the middle of a live report at a local tourism destination, Smith Mountain Lake, when the gunman approached. Both journalists were killed at point blank range. The tourism official Parker was interviewing, Vicki Gardner, survived, but was seriously injured.
The attack represented the first deaths of journalists on assignment in the United States in almost a decade.
Related: The day that changed WDBJ
One year later, the station is under new management. The news director and general manager who steered the newsroom through the crisis now have new jobs.
But Parker's boyfriend Chris Hurst, who anchors the 6 and 11 p.m. news, remains at the anchor desk.
He is off work this week because he and some of Parker's family members and close friends are on a week-long rafting and hiking trip in North Carolina.
"This is where she came every year for her birthday," Hurst said by phone on Thursday.
A rafting trip on the Nantahala River in North Carolina was one of Hurst's last memories with Parker before the shooting.
He said he expected Friday to be a "very difficult day because it reminds us of how she died and how utterly inhumane it was."
Hurst described what happened to Parker and Ward as "workplace violence," not necessarily related to their occupation in the news industry.
That said, the gunman did exploit the inherent vulnerabilities of a TV live shot. He approached Ward from behind, according to the body camera video that he published on the web before killing himself.
In the immediate aftermath of the shooting, local TV stations were concerned about copycat crimes. Some stations stepped up security for crews in the field. But there have not been systemic changes in the twelve months since the murders.
Related: Victim speaks on the tragedy, TV violence and looking 'ahead'
Confrontations occasionally take place between television reporters and bystanders. One such incident, involving a woman sucker-punching a reporter on live TV, happened in Philadelphia two months ago.
Hurst said broadcasters have a duty to "ensure the safety of their staffs out in the field." But there is only so much that can be done.
Earlier this summer WDBJ suffered a round of layoffs, an all too common occurrence in the news business. Most of the ten people who exited the station were videographers and other personnel who worked behind the camera.
There is increasing pressure to work as "one man bands," a term of art for journalists who set up the live shot, operate the camera and step in front of the camera to deliver the report -- jobs that used to be performed by two or three members of a team.
This pressure is by no means unique to WDBJ. But it may be especially sensitive within the newsroom due to Parker and Ward's deaths.
Two employees said on condition of anonymity that the "one man band" assignments are becoming more common but that news crews with multiple employees still handle some stories.
The station's new general manager Matt Pumo did not respond to a request for comment.
Jeff Marks, WDBJ's longtime general manager who was thrust into the national spotlight after the shootings, was prepared to retire this time last year.
At the time of the shootings, a plan was in the works for WDBJ to be acquired by Gray Television, a firm that owns stations in 51 markets across the country.
Marks was offered a corporate job at Gray, so he now hopscotches from station to station, but he'll be back at WDBJ for Friday's somber anniversary.
In the aftermath of the attack, he said, "I think we became firm in our resolve to live up to the standards that Adam and Alison tried to reach."
What he wants to impart to up-and-coming journalists now is that "this is a safe profession, as much as we're safe anywhere."
Compared to some other countries, journalists are free to operate across the United States. "If we're going to have this freedom, to operate freely and to say what needs to be said, then we need to find out what needs to be said," Marks said.
That's the message he said he is planning to convey at a journalism conference in September.
Related: Virginia tightens gun laws
Earlier this month WDBJ completed a memorial to Parker and Ward outside the station's entrance.
"As we come up on the one-year anniversary of their deaths, we hope to respect them by living the way they did -- with kindness and laughter," the station said in a Facebook post.
On the morning of the shooting, Hurst was asleep because he had worked the late-night shift the prior day. Ward's fiance Melissa Ott was in the control room producing the 6 a.m. newscast, which means she witnessed the shooting and the aftermath.
It was supposed to be Ott's last day at WDBJ. She had accepted a job at a station in Charlotte, North Carolina.
Ott is now working at that station, but has chosen not to speak about the shooting.
"Melissa is in the business so she understands everything that talking and not talking entails. I wholly respect her decision," Hurst said.
He pointed out that "she's had to make the same pitches before," meaning she has had to ask loved ones of other shooting victims for interviews.
Hurst and Ott were in touch this week — they pieced together a playlist of Parker and Ward's favorite songs and artists.
Q99, a local station in Roanoke, is playing the songs and dedicating Friday morning's broadcast to the two slain journalists. | http://money.cnn.com/2016/08/25/media/wdbj-shooting-one-year-later/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-25T00:00:00 | money.cnn.com/9728e4ddb42a249aed02144e7bd640ceabcac9324ec883fabefe41af9958be81.json |
[
"Dylan Byers"
] | 2016-08-28T15:36:45 | null | 2016-08-26T09:19:16 | The Associated Press is standing by an investigation into Hillary Clinton despite widespread criticism and has yet to correct a tweet about its story despite near unanimous agreement among other journalists that the tweet, at least, was false. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Fassociated-press-hillary-clinton-investigation%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825160908-hillary-cliinton-reno-780x439.jpg | en | null | Associated Press botches Hillary Clinton report and response | null | null | money.cnn.com | Hillary Clinton is surrounded by suggestions of controversy. Terms like "Clinton Foundation," "email server," and "Benghazi" hover around her like a faint smoke that hints at the existence of fire.
But finding the fire -- the lie, the misdeed, the unethical act -- is proving to be rather difficult, as evidenced this week by an inaccurate tweet and arguably misleading story from the Associated Press that were quickly rebutted by the Clinton campaign and dismissed by many media outlets.
Three days later, the Associated Press is still standing by its story and has yet to correct its tweet, despite near unanimous agreement among other journalists that the tweet, at least, was false.
"The AP's social-media take on the story was seriously flawed," David Boardman, the Dean of the School of Media and Communication at Temple University and former editor of the Seattle Times, told CNNMoney. "It's sloppy, click-grabbing shorthand that is a disservice to the reporting to which it refers."
On Tuesday, the AP sent out a breaking news alert: "BREAKING: AP analysis: More than half those who met Clinton as Cabinet secretary gave money to Clinton Foundation."
Not true: As the article stated, what the AP found was that "more than half the people outside the government" who met with Clinton while she was secretary of state "gave money — either personally or through companies or groups — to the Clinton Foundation."
This "extraordinary" finding, as the AP put it, was deemed less extraordinary by other journalists and pundits who noted that Clinton had held thousands of meetings with government employees, foreign representatives, civil leaders, journalists and others while Secretary of State that were not accounted for in the AP's report.
Moreover, the AP only analyzed 154 meetings, based on what has been made available by the State Department, and thus its review only accounts for a fraction of Clinton's meeting schedule during her tenure as secretary of state. (The AP's defenders correctly note that the wire service was only able to examine a limited dataset because of the State Department's intransigence regarding the release of further records, which the AP has been fighting hard to secure.)
Nevertheless, the AP's tweet allowed Donald Trump to stand on stage at a campaign rally and declare that "fifty percent of people who saw [Clinton] had to make a contribution to the Clinton Foundation."
Clinton campaign spokesperson Brian Fallon accused the AP of cherrypicking "a limited subset" of data to give "a distorted portrayal of how often she crossed paths with individuals connected to charitable donations to the Clinton Foundation." On Twitter, he hit the AP for failing to correct its breaking news alert, which he called "100 percent factually inaccurate."
In a statement, AP spokesperson Paul Colford said his organization had been "transparent in how it has reported this story," and that it would continue to examine Clinton's schedules as they became available.
"The Associated Press' reporting relied on publicly available data provided by the State Department about Hillary Clinton's meetings, phone calls and emails, cross-referenced against donor information provided by the Clinton Foundation and its related charities on its websites," Colford wrote.
Meanwhile, other news organizations pilloried the AP's report.
The Washington Post Fact-Checker wrote that there were "many more nuanced and important details in the story that are being misrepresented — by the AP's own promotional tweet, and by Trump."
Vox's Matthew Yglesias was more direct: "The AP's big exposé on Hillary meeting with Clinton Foundation donors is a mess," his headline read.
Boardman argued that the story itself "was not nearly so flawed as Yglesias and others have charged."
"The AP reporters made clear they found no smoking-gun quid pro quo. And Clinton defenders' claim that 'there is no story' is absurd; of course it is worth investigating and explaining the relationship between Secretary Clinton and the Foundation, and how that relationship worked while she was at State," he said.
"If anything," Boardman continued, "the AP story could have used far more exploration of the inherent ethical issues here, and of the notion that whether or not Clinton gave extraordinary help to Foundation donors, the potential for accusations of that was probably reason enough to avoid such meetings altogether." | http://money.cnn.com/2016/08/26/media/associated-press-hillary-clinton-investigation/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/ca65bdae639da74bcbe95b1218e25f02cc38410fc11c4ab8c7ea03c3192b8af7.json |
[
"Ivana Kottasova"
] | 2016-08-30T17:37:58 | null | 2016-08-30T11:45:57 | How would the world's largest economies fare without their capital cities? | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Fnews%2Feconomy%2Fcapital-cities-economy%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829145751-capital-cities-economics-paris-780x439.jpg | en | null | These capital cities are a brake on their economies | null | null | money.cnn.com | What would Germans be without Berlin?
The answer: Even richer.
New research from the Institute for Economic Research in Cologne said Germany would generate a little more national income per person -- 0.3% more to be precise -- without its capital city.
Berlin produces less GDP per capita than the rest of the economy despite its vibrant tech scene and trendy status.
"Berlin was a bit of a surprise," said Henry Goecke, one of the researchers at the institute. "Economically, Berlin is more or less not important at all, to put it harshly."
He said Berlin suffered by comparison with some of Germany's other regions such as the Rhineland, where much of the country's manufacturing industry is based, and Bavaria, home to automakers such as BMW (BAMXF).
Berlin is not the only capital city that is lagging behind. Canada's per capita GDP -- one measure of national wealth -- would be 0.2% higher if it wasn't for Ottawa, the researchers found.
"This is because of the economic strength of the oil producing region of Alberta, which has 11% of the people, but produces 17% of all GDP," Goecke said.
Related: A third of this city's inhabitants are millionaires
If Berlin and Ottawa are the brakes, then Paris and London are the engines.
France's per capita GDP would be more than 17% lower without its capital city.
That makes the "City of Love" even more important to France than London is to the U.K.
But the British capital, home to the country's all important finance sector, is also vital for prosperity -- the country would see its GDP per head drop by nearly 13% if it wasn't for London.
That contribution is now under threat.
"After the U.K. voted for Brexit, there will likely be consequences for London, and the question is whether the city can remain as connected to the EU financial services industry as it is now," Goecke said.
Related: London pays U.K. bills but for how much longer?
The United States would also be worse off if it wasn't for Washington D.C., although the drop in GDP per capita wouldn't be too dramatic -- just over 1%.
That kind of balance is good for an economy, Goecke said.
"You don't want to put all the eggs into one basket," he added. | http://money.cnn.com/2016/08/30/news/economy/capital-cities-economy/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-30T00:00:00 | money.cnn.com/e5a1a6e2729064bc9e5d518514fabb98a9ba9685b35b4aff42485982cc17af4f.json |
[
"Ivana Kottasova"
] | 2016-08-31T13:41:08 | null | 2016-08-31T08:02:15 | The oil crisis is still biting: Nigeria has slumped into recession and Norway has seen its economic growth slow to a standstill. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F31%2Fnews%2Feconomy%2Fnigeria-norway-oil-recession%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160831105338-nigeria-fuel-780x439.jpg | en | null | Nigeria slumps into recession, Norway's economy stalls | null | null | money.cnn.com | The oil crisis is still biting.
Nigeria slumped into recession and Norway's economic growth slowed to a standstill in the second quarter.
Both countries rely on oil for a big chunk of their exports and have been hit hard by the collapse in prices.
Oil has recovered from February's low of just over $26 per barrel but the current price of about $46 is still less than half what producers were getting just two years ago.
Nigeria's second quarter GDP fell by more than 2% compared to last year, after slipping by 0.4% in the first quarter. Two consecutive quarters of decline mean Nigeria is now officially in recession.
Nigeria isn't only hurting from low prices. Its oil output also fell sharply because of a series of rebel attacks on infrastructure. Other sectors suffered too, with manufacturing and retail hit by chronic power outages.
The slump in oil prices has drained Nigeria's foreign currency reserves. To stem the outflow of cash from the country, the government introduced strict restrictions on importing goods that it said could be produced locally. But that decision has reduced the flow of raw materials to the country's manufacturers.
"Much of the blame for this must fall on Nigeria's government. Import restrictions have crippled the manufacturing sector, which was long seen as a potential driver of non-oil growth," said John Ashbourne, Africa economist at Capital Economics.
Related: Nigeria: An Economy Divided
Norway's offshore oil, gas and shipping activity shrank by 1.4% in the quarter, while mainland GDP grew just 0.4%.
The government has been forced, for the first time, to tap the nation's huge sovereign wealth fund. Norway's central bank said the country might be forced to withdraw more than $9 billion from the $888 billion pension fund in 2016 to make up for the collapse in oil revenue. | http://money.cnn.com/2016/08/31/news/economy/nigeria-norway-oil-recession/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-31T00:00:00 | money.cnn.com/ff11526158e6b5f8182bfe328677db4d8a05f99fa8c69963224cde9aaed4ac0b.json |
[] | 2016-08-26T15:50:06 | null | 2016-08-26T10:12:50 | Hillary Clinton is vowing to crackdown on revenge porn and help craft laws that protect victims of cybercrime. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Ftechnology%2F2016%2F08%2F26%2Fclinton-revenge-porn.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826101045-clinton-revenge-porn-00001922-780x439.jpg | en | null | Clinton speaks out against revenge porn | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/technology/2016/08/26/clinton-revenge-porn.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-26T00:00:00 | money.cnn.com/d8130f6b8ae7ec6c7ff7c38cf7e19083f0df3da25ba70b73c10082ba4d316cac.json |
[] | 2016-08-27T21:38:21 | null | 2016-08-27T04:12:44 | Univision anchor Jorge Ramos invokes Joe McCarthy and says journalists | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Fmedia%2F2016%2F08%2F27%2Fwhy-jorge-ramos-says-trump-is-different.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160827153739-why-jorge-ramos-says-trump-is-different-00012613-780x439.jpg | en | null | Why Jorge Ramos says Trump is different | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/media/2016/08/27/why-jorge-ramos-says-trump-is-different.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-27T00:00:00 | money.cnn.com/5bd03a4adfdf6e02672f3fb2c767f0255230242ef90404be615e3cdbfa9ce58c.json |
[
"Ahiza Garcia"
] | 2016-08-30T23:40:22 | null | 2016-08-30T05:46:17 | Andre Agassi retired at the U.S. Open, but he's back and he's got a new partnership. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Fnews%2Fcompanies%2Fandre-agassi-lavazza-us-open%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830142358-andre-agassi-lavazza-us-open-780x439.jpg | en | null | Andre Agassi is back at the U.S. Open | null | null | money.cnn.com | Andre Agassi has been retired for 10 years -- but a herd of 150 lookalikes are coming to the U.S. Open clad in mullets and neon, circa 1980.
The 150 "Agassi clones" are part of a stunt to promote Lavazza coffee and raise money for the Andre Agassi Foundation for Education.
Agassi doesn't mind being the butt of the joke.
"Any picture I see of me in those days I tend to burn or tear up, but nevertheless I think that was a time that we look back on kind of fondly in some respects," he told CNNMoney.
Agassi is Lavazza's new spokesperson, and as part of the agreement, Lavazza will donate $1 for every coffee drink sold at its U.S. Open cafes to the Andre Agassi Foundation for Education. The money will help provide financial aid to students at Agassi's charter school and help fund a summer college prep program.
Related: Coolest minimum wage job: Ball person at the U.S. Open
While he may cringe at the mullet now, Agassi is excited about announcing his new partnership at the U.S. Open.
"It's the place I grew up in front of," Agassi said. "I think New York not only watched me grow up, but they sort of helped me grow up. You stick those two things together it's a pretty special place for me."
Since leaving the game of tennis, Agassi has devoted himself to creating charter schools and trying to stress the importance of education.
Agassi said he wants to "focus on children that don't have choice in their life."
The tennis great explained that education was never much of a focus for him growing up.
"If I had to play psychologist on myself, I would say my lack of education plays a huge part in [my passion for it]," Agassi said. "I didn't have any choice in my life. It was always tennis, tennis, tennis the way I was raised."
The new partnership links Agassi's past with his future.
"It gives me a good excuse to stay connected with the game," he said, "and plus I love their coffee so maybe I can get a machine in my home now." | http://money.cnn.com/2016/08/30/news/companies/andre-agassi-lavazza-us-open/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/8cecdff402a959c564f1fc0cbc03e8e54acf21acfa2a200217d3678e12f227bf.json |
[
"Jack Regan"
] | 2016-08-28T21:38:38 | null | 2016-08-28T03:26:07 | On August 29, new FAA regulations took effect making it easier to become a certified drone pilot. Samuel Burke reports. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Ftechnology%2F2016%2F08%2F28%2Fdrone-pilot-faa.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160707175713-drone-pilot-thumbnail-780x439.jpg | en | null | It's now a lot easier to legally fly drones | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/technology/2016/08/28/drone-pilot-faa.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-28T00:00:00 | money.cnn.com/2b063539c7a06a346267ccb55f98c4da2fdb5bf034235a381655ff252a33ec17.json |
[
"Charles Riley"
] | 2016-08-29T13:35:57 | null | 2016-08-29T08:19:23 | Mark Zuckerberg has added a very special event to his tour of Italy: a meeting with the Pope. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fpope-francis-mark-zuckerberg-facebook-italy%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160829074607-mark-zuckerberg-pope-francis-780x439.jpg | en | null | Mark Zuckerberg gives Pope Francis a Facebook drone | null | null | money.cnn.com | What do you give the Pope if you're a tech CEO?
Mark Zuckerberg handed over a Facebook drone when he, and his wife Priscilla Chan, met Pope Francis on Monday.
"It was a meeting we'll never forget," Zuckerberg said. "You can feel [the Pope's] warmth and kindness, and how deeply he cares about helping people.
Zuckerberg updated his personal page on Facebook (FB, Tech30) with a photo of himself giving the Pope a model of Aquila, a solar-powered aircraft that Facebook hopes will expand Internet access in developing countries.
"Together they spoke about how to use communications technology to alleviate poverty, encourage a culture of encounter, and to communicate a message of hope, especially to the most disadvantaged," the Vatican Press Office said in a statement.
Zuckerberg announced his trip to Italy last week after the country was struck by a devastating earthquake. He has scheduled a live question and answer session for later on Monday, and said he was "looking forward to spending time with our Italian community."
The tech CEO has said Rome is a special city to him. He honeymooned there with Chan, and says he is a student of Latin and Classical history.
Zuckerberg also posted a photo of himself running by the Colosseum.
"It's great to be back in Rome! We started the day with a run past the Circus Maximus and House of Augustus up to the Colosseum. It's pretty amazing to run on roads in the city that helped invent them," he said.
Over the weekend, Zuckerberg posted an update and photo from the wedding of Spotify co-founder Daniel Ek, which was held near Lake Como in northern Italy.
Related: In case of emergency, open Facebook
Usually the act of a politician, visiting a country after a disaster would fit with Zuckerberg's recent push to paint himself as a sort of Silicon Valley statesman. He has been carefully crafting his image through Facebook posts, Q&As and public trips to places like China.
The social network has also taken on an unexpected role in international disasters. After events like earthquakes, hurricanes, or bombings, people let friends and family know they're OK with Facebook's Safety Check feature.
-- Livia Borghese and Heather Kelly contributed reporting. | http://money.cnn.com/2016/08/29/technology/pope-francis-mark-zuckerberg-facebook-italy/index.html | en | 2016-08-29T00:00:00 | money.cnn.com/261fff6a2cc1da0c97e267636d11047f159d0597208f34041903a8fae0577cdc.json |
[
"Jethro Mullen"
] | 2016-08-31T03:36:17 | null | 2016-08-30T11:00:33 | Joe Sutter, who led the Boeing engineering team that developed the 747 jumbo jet in the 1960s, died Tuesday at the age of 95, the company said. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Fnews%2Fboeing-747-father-joe-sutter-dead%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160830223302-joe-sutter-2-780x439.jpg | en | null | Joe Sutter, Boeing's 'Father of the 747,' has died | null | null | money.cnn.com | The man known as the "father" of Boeing's iconic 747 has died.
Joe Sutter, who led the engineering team that developed the world's original jumbo jet in the 1960s, died Tuesday at the age of 95, Boeing said.
In a tribute, Boeing Commercial Airplanes CEO Ray Conner called Sutter "one of the giants of aerospace."
"His team, along with thousands of other Boeing employees involved in the project, became known as the Incredibles for producing what was then the world's largest airplane in record time -- 29 months from conception to rollout," Conner said. "It remains a staggering achievement."
Dubbed the "queen of the skies," the 747 has long been a favorite of the flying public. Conner credited it with "opening up affordable international travel and helping connect the world."
The aircraft made its commercial debut in 1970, and more than 1,500 have now been delivered.
Sutter was involved in other major plane projects at Boeing, including the the Dash 80, the 707 and the 737, according to the company. But it was the 747 "that secured his place in history," it said.
After retiring, he continued to work as a consultant to Boeing.
"By then, his hair was white and he moved a little slower, but he always had a twinkle in his eye, a sharp mind and an unwavering devotion to aerospace innovation," Conner said.
Related: Boeing could end production of its iconic 747 jumbo jet
Sutter's death comes at an uncertain time for the 747's future.
Boeing warned last month it could stop producing the jet if orders don't pick up. The company previously announced it would halve production of the aircraft from 12 per year to just six beginning in September.
-- Thom Patterson and Charles Riley contributed to this report. | http://money.cnn.com/2016/08/30/news/boeing-747-father-joe-sutter-dead/index.html | en | 2016-08-30T00:00:00 | money.cnn.com/7728e0be1633eb7ca5ec08a228369034745277261640eb63fba508b5d8451b0a.json |
[
"Chris Isidore"
] | 2016-08-29T15:39:58 | null | 2016-08-29T10:31:51 | Coca-Cola says is has met a goal of replenishing all of the water it uses five years ahead of schedule. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Fcompanies%2Fcoca-cola-water%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829081304-coca-cola-water-780x439.jpg | en | null | Coca-Cola: We're replenishing all of the water we use | null | null | money.cnn.com | Coca-Cola says it has replenished all the water it used to make its drinks -- a first for the company.
The company has been criticized for its water use which ramped up after the anti-poverty group War On Want launched a campaign in 2007 to call attention to the issue using the slogan "Coca-Cola: Drinking the world dry."
But on Monday Coca-Cola (KO) announced that it returned an estimated 191.9 billion liters of water to nature and communities in 2015 through community water projects. That represents about 115% of the water used in Coca-Cola's beverages last year.
Its water use was audited by LimnoTech and Deloitte, and conducted in association with The Nature Conservancy. It also returned nearly all of the water used in its manufacturing process with 146 billion liters of treated wastewater.
"Every time a consumer drinks a Coca-Cola product, they can have confidence that our company and bottling partners are committed to responsible water use today and tomorrow," said Coke CEO Muhtar Kent.
Related: Coke debuts 'proud to be an American' cans
The company announced the goal of replenishing all the water it used in drinks by 2020 after the War on Want's 2007 campaign, and made good on its promise five years early through 248 community water partnership projects in 71 countries. The company said some projects return water directly to the source used by the company, while others meet needs of local communities where there is a pressing need.
"This achievement marks a moment of pride for Coca-Cola and our partners," said Kent. He said the company is "keenly aware" that its water stewardship work is unfinished, despite meeting its goal, and that it is exploring how to advance its water programs.
Related: Obesity group with ties to Coke shuts down
But Coca-Cola still has lots of critics when it comes to water use.
Last year when Coke announced it was close to replenishing that water it uses in India, the claim was disputed by the Centre for Research on Globalization, which put out its own report claiming that Coke can never be "water neutral."
It called Coke's claim of replenishment "a public relations exercise designed to manufacture an image of a company that uses water sustainably -- far removed from the reality on the ground."
India is a key market for Coca-Cola. But it has been ordered to shut down plants there due to local concerns about its water use , said the Centre's report.
"We find the company's assertions on balancing water use to be misleading," it wrote. "Replenishing an aquifer hundreds of miles away from the point of extraction, as Coca-Cola has often done to 'balance' their water use, has no bearing on the health of the local aquifer which Coca-Cola depletes through its bottling operations," nor on the deprivation of the people who depend upon it. | http://money.cnn.com/2016/08/29/news/companies/coca-cola-water/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-29T00:00:00 | money.cnn.com/40fb1c99c47323b639c77f3ecace5859c6632cd7e00b510e333dae4e9a76f4e5.json |
[
"Sophia Yan",
"Judy Kwon"
] | 2016-08-26T15:02:44 | null | 2016-08-26T04:50:38 | Lee In-won, vice president the conglomerate Lotte, was found dead early Friday just hours before he was due to be questioned by prosecutors. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fnews%2Fcompanies%2Flotte-executive-death%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826163351-lotte-logo-780x439.jpg | en | null | Top exec at South Korea's Lotte found dead hours before prosecutor questioning | null | null | money.cnn.com | A top executive at a South Korean company facing a corruption investigation was found dead early Friday just hours before he was due to be questioned by prosecutors.
Lee In-won, vice president of the conglomerate Lotte Group, was discovered lying on the ground with a necktie around his throat, according to local police.
Police said they suspected he may have hanged himself and fallen to the ground when the necktie broke, but the cause of death hasn't officially been established. A four-page letter was found at the scene in Yangpyeong county, east of Seoul, police said, declining to comment on its contents.
Related: Two Zurich Insurance executives found dead
Lee's death comes amid the ongoing corruption investigation into Lotte, one of South Korea's five biggest conglomerates. The probe has shaken the company, forcing it to shelve plans for an initial public offering of one of its units.
The daughter of Lotte's founder was arrested last month on charges of bribery and embezzlement.
As part of the corruption investigation, Lee was due to meet with prosecutors Friday morning, the company said.
Lee, 69, joined Lotte in 1973 and held numerous positions as he rose up the ranks over the decades.
"It is hard to believe that Vice President Lee In-Won, who sacrificed more than anyone to lay the foundations for Lotte, has passed away," the company said in a statement.
Based in Korea and Japan, Lotte has a wide range of businesses, including candy, hotels, retail and construction. | http://money.cnn.com/2016/08/26/news/companies/lotte-executive-death/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-26T00:00:00 | money.cnn.com/7948720b3948fc5c754fec0fabba5ea0f1d327de4c6b02c09303bfded161abf6.json |
[
"Parija Kavilanz"
] | 2016-08-26T15:55:28 | null | 2016-08-25T08:14:50 | David Moritz has cornered the market for the entertainment awards. His company Society Awards makes the Moon Man for MTV's VMAs -- along with nearly 100 others. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Fsmallbusiness%2Fdavid-moritz-mtv-vma-society-awards%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160701042518-david-moritz-780x439.jpg | en | null | David Moritz is the man behind MTV's Moon Man statue | null | null | money.cnn.com | In Queens, NY, there's a small conference room that boasts a trophy wall like no other.
It's crammed, end-to-end, with some of the most recognizable trophies in the world -- MTV's Moon Man, a Golden Globe and an Emmy, a Country Music Award, a People's Choice Award, even a trophy from The Voice.
That wall belongs to Society Awards, a small business founded by David Moritz that actually makes all of these awards, and many, many more.
In nine years Moritz, 35, has cornered the market for designing the entertainment industry's top awards.
Recently, his firm made the BET award given to actor Jesse Williams and the trophy Beyonce got from the Council of Fashion Designers of America for being the 2016 Fashion Icon.
In all, Society Awards manufactures trophies for nearly 100 different award shows.
"It's always exciting and an honor to see any of our products on TV," said Moritz. "All our teammates and our families get an extra kick out of award shows with a Society Awards product."
The company generates $5.5 million in annual revenue and has been profitable since its first year. It's one of a trio of startups that Moritz now runs -- he subsequently launched design firm Viceroy Creative and a high-end liquor brand called Ambition Beverages.
The three businesses, which are located in New York and Oklahoma, employ 38 people, many of whom work across the brands.
Related: Britney Spears to perform at MTV VMAs
A decade ago, Moritz had a different vision for himself.
"I thought I was going to be a lawyer," he said. Public service was in his DNA -- his father was an undercover cop and his mother was involved in social work.
Life took an unexpected turn when the 14-year-old relocated from New Jersey to Oklahoma.
"It was a culture shock," he said. "I went through a period of mild depression."
He coasted academically but became somewhat of a rebel. "When I couldn't find a parking spot, I'd pull up my car on the sidewalk and park in front of the school door," he said.
In 1999, Moritz went to NYU and got his first taste of entrepreneurship.
"Some of my friends and I rented out clubs and threw parties and events for the college crowd," he said. Soon he was pocketing $1,500 to $2,000 a week.
He graduated from law school and worked as an entertainment lawyer for two years.
The idea for Society Awards happened almost incidentally. Scrambling for a business idea, Moritz accompanied a friend to a trade show that included award vendors.
"I wasn't impressed with what I saw," he said. "You'd think these beautiful trophies given to celebrities were made by fancy companies. They're made by small manufacturers."
Moritz saw his opening.
"I wanted to reimagine the awards to be mysterious, beautiful and sexy, like high-end jewelry," he said.
It helped that he had a knack for design. Moritz was keen to improve upon the current trophy designs, by using different manufacturing techniques and in some cases even hand-finishing the awards. To complete the luxury feel, Moritz created custom packaging for each trophy.
Today, many of the trophies are made in China and the U.S., but some finishing touches take place in the company's facility in Oklahoma.
Moritz is hungry to keep going. "There are so many industry awards we're still not involved with," he said.
The top of his list? The Oscars and Grammys. | http://money.cnn.com/2016/08/25/smallbusiness/david-moritz-mtv-vma-society-awards/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-25T00:00:00 | money.cnn.com/c02a521c933ae22a038a6bb025a68bc6c1d6d49a2feee7b4d94f946649956691.json |
[
"Ryan Bergeron"
] | 2016-08-31T13:39:53 | null | 2016-08-31T09:16:13 | Ariell Johnson is the first black female comic book owner on the East Coast. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Fsmallbusiness%2F2016%2F08%2F31%2Fcomic-book-girl-btm.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160816150152-comic-book-girl-btm-00011612-780x439.jpg | en | null | Pow Wham Zap! Meet a real life comic book hero | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/smallbusiness/2016/08/31/comic-book-girl-btm.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-31T00:00:00 | money.cnn.com/b3543097e275fa0030ea6b32508d76b9c53dfdae6ab03f7c17d2930361cbe487.json |
[
"Ahiza Garcia"
] | 2016-08-29T05:37:45 | null | 2016-08-27T03:36:32 | Nate Parker, the star and director of "The Birth of a Nation," has been shadowed in recent weeks by a past rape case. He spoke Friday in an interview with Ebony. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F27%2Fmedia%2Fnate-parker-birth-of-a-nation%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_entertainment%2B%2528RSS%253A%2BCNNi%2B-%2BEntertainment%2529.json | http://i2.cdn.turner.com/money/dam/assets/160817074642-nate-parker-rape-response-780x439.jpg | en | null | Nate Parker of Birth of a Nation speaks to Ebony | null | null | money.cnn.com | Nate Parker continues to explain himself.
Parker is the director and star of "The Birth of a Nation," a highly-anticipated fall film about racial injustice that has been overshadowed in recent weeks by a past rape case.
Parker, now 36, was charged with rape while a student at Penn State in 1999. He was acquitted, and the accuser committed suicide in 2012 at the age of 30.
"The Birth of a Nation" is a drama about Nat Turner's slave rebellion in 1831. Parker plays Turner.
Speaking at the Merge Summit in Los Angeles on Friday night, Parker said it was "very difficult to talk about injustice and not deal" with the rape charges in a public way.
"When I was first met with the news that this part of my past had come up, my knee-jerk reaction was selfish," he said, according to a report by Ebony.
In an interview with Ebony's Britni Danielle, Parker spoke about what he called "toxic masculinity and male privilege."
He said his perception of consent has changed.
"It wasn't a conversation people were having," he said. "When I think about 1999, I think about being a 19-year-old kid, and I think about my attitude and behavior just toward women with respect objectifying them. I never thought about consent as a definition, especially as I do now."
Related: 'People need to see this movie'
Danielle asked Parker how he would label the incident that led to the rape charges.
"I'll say this, I think that [there] are more things than the law," Parker said. "I think there is having a behavior that is disrespectful to women that goes unchecked, where your manhood is defined by sexual conquests, where you trade stories with your friends and no one checks anyone."
Parker said he believes most people wait too long to think about the effects of "hyper-masculinity and false definitions of what it means to be a man." Too often, men don't understand until they have kids or get married, according to Parker.
"In all actuality, we got to do better about preparing our men for their interactions with women," he said.
Related: Nate Parker 'devastated' over rape case
"The Birth of a Nation" got rave reviews at the Sundance festival in January and was bought by Fox Searchlight for $17.5 million. It opens in theaters on October 7.
The controversy over Parker's past has shadowed the movie ahead of its release.
In a Facebook post earlier this month, Parker said he was "filled with profound sorrow" when he recently learned that the woman involved in his legal case had committed suicide. | http://money.cnn.com/2016/08/27/media/nate-parker-birth-of-a-nation/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_entertainment+%28RSS%3A+CNNi+-+Entertainment%29 | en | 2016-08-27T00:00:00 | money.cnn.com/7b00b06bd421d77f94505e417be2fb92c05188637eff57c57c1b696e637f1df2.json |
[
"Alanna Petroff"
] | 2016-08-30T11:40:36 | null | 2016-08-25T10:24:37 | Jimmy Choo stock is surging after the company revealed it's seeing spiking sales of men's products and booming business in China. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Finvesting%2Fjimmy-choo-shoes-stock-trading%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825074816-evan-rachel-wood-jimmy-choo-780x439.jpg | en | null | Jimmy Choo's stock is spiking. Here's why | null | null | money.cnn.com | Investors are drooling over Jimmy Choo shares after the company said sales of men's shoes are spiking and its business in China is booming.
The luxury shoe brand is hugely popular among female fashionistas, and a pair of stilettos can easily sell for over $1,000.
But it's gaining a big following among men too. Nearly half of its stores now sell men's shoes, and they account for 8% of global sales, making it the fastest growing area of its business.
Chinese consumers are also tripping over themselves to buy some Choos, even as some other luxury retailers struggle in the country.
Jimmy Choo sales in Asia (excluding Japan) in the first half of 2016 are up 22% compared to last year. Some of that comes from new store openings but there's organic growth too.
David Roth, a retail marketing expert at WPP, said niche brands like Jimmy Choo have an edge in the tricky Chinese market.
"The ubiquity of the most successful luxury brands in China is causing cutting-edge younger Chinese consumers to look at different luxury and status brands than they have in the past," he told CNNMoney.
Related: Tiffany sales plunge as tourists rein in spending
The company, which was founded in 1996 by designer Jimmy Choo and former Vogue accessories editor Tamara Mellon, is celebrating its 20th birthday this year.
Chairman Peter Harf stated: "The prospects for the business in its 20th year have never looked better."
The London fashion firm is even getting a boost from Brexit. The company has benefited from the sharp fall in the British currency, which makes global sales more valuable when converted into pounds.
Related: $1.3 trillion at stake in Brexit breakup
Jimmy Choo first listed on the London Stock Exchange in October 2014. Its shares surged in the first few weeks but have tanked since, losing half their value and hitting a record low in June.
But the positive earnings news sent the stock up about 6% on Thursday.
The company gained international fame from its prominence in films and TV shows, including "Sex and the City" and "The Devil Wears Prada."
Jimmy Choo accessories are also frequently flaunted by Hollywood stars and royalty, including Kate Middleton, the Duchess of Cambridge. | http://money.cnn.com/2016/08/25/investing/jimmy-choo-shoes-stock-trading/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-25T00:00:00 | money.cnn.com/7e769adc71401f8de500548f793738a8937385b65319da3ec4441d03a239b761.json |
[
"Sara Ashley O'Brien"
] | 2016-08-26T14:58:53 | null | 2016-08-26T08:33:31 | Embattled biotech Theranos said on Thursday that it has filed an intent to appeal the CMS ban imposed in July. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Ftechnology%2Ftheranos-appealing-cms-sanctions%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160804124032-elizabeth-holmes-780x439.jpg | en | null | Theranos fights back against CMS sanctions | null | null | money.cnn.com | Embattled startup Theranos is hoping federal health regulators will rethink the sanctions imposed on the company.
The Centers for Medicare and Medicaid Services said earlier this year that it would revoke the company's license to operate a lab in California. It also said it would bar CEO Elizabeth Holmes, 32, from owning and operating a lab for two years. The agency said the company's Newark, California lab practices posed a safety threat and recommended immediate action.
Theranos was given until September 5 to appeal the sanctions -- and said on Thursday it has indeed filed its intent to appeal.
"Since CMS originally announced the imposition of sanctions, Theranos has made substantial progress toward correcting the deficiencies CMS identified, including appointing new laboratory leadership; enhancing Theranos' clinical policies and procedures; and revamping training programs," the company said in a press statement.
Related: Theranos' Hail Mary pass: A tabletop laboratory
Theranos said it has not conducted any patient testing at its Newark facility since the sanction.
The company, which was once valued at $9 billion, has had a tumultuous year.
In October 2015, the Wall Street Journal published articles calling Theranos' claims and blood testing methods into question. Theranos has continued to contest the allegations against the company.
The firm, founded by Stanford University dropout Holmes at age 19, positioned itself as a provider of cheaper, more efficient alternatives to traditional medical tests. It said it could process up to 70 lab tests on just a few drops of blood. | http://money.cnn.com/2016/08/26/technology/theranos-appealing-cms-sanctions/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-26T00:00:00 | money.cnn.com/f6d36152cc38bdb8b9c13836c082b4c47bada2b35f564bd1667b676883b9e6e1.json |
[] | 2016-08-29T19:38:59 | null | 2016-08-29T02:44:58 | Longtime Hillary Clinton aide Huma Abedin announced Monday that she and former U.S. Representative Anthony Weiner are separating after new reports surfaced that he sent sexually suggestive photos again. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Fnews%2F2016%2F08%2F29%2Fanthony-weiner-huma-abedin-separate.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829143437-anthony-weiner-huma-abedin-separate-00000816-780x439.jpg | en | null | Huma Abedin separates from Anthony Weiner after new sexting scandal | null | null | money.cnn.com | Longtime Hillary Clinton aide Huma Abedin announced Monday that she and former U.S. Representative Anthony Weiner are separating after new reports surfaced that he sent sexually suggestive photos again. | http://money.cnn.com/video/news/2016/08/29/anthony-weiner-huma-abedin-separate.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-29T00:00:00 | money.cnn.com/eb143e25a3130db181fa41daa8291b29e1bd4839422450de9bb7a377dd60f694.json |
[
"Jethro Mullen"
] | 2016-08-31T03:40:25 | null | 2016-08-30T11:00:33 | Joe Sutter, who led the Boeing engineering team that developed the 747 jumbo jet in the 1960s, died Tuesday at the age of 95, the company said. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Fnews%2Fboeing-747-father-joe-sutter-dead%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830223302-joe-sutter-2-780x439.jpg | en | null | Joe Sutter, Boeing's 'Father of the 747,' has died | null | null | money.cnn.com | The man known as the "father" of Boeing's iconic 747 has died.
Joe Sutter, who led the engineering team that developed the world's original jumbo jet in the 1960s, died Tuesday at the age of 95, Boeing said.
In a tribute, Boeing Commercial Airplanes CEO Ray Conner called Sutter "one of the giants of aerospace."
"His team, along with thousands of other Boeing employees involved in the project, became known as the Incredibles for producing what was then the world's largest airplane in record time -- 29 months from conception to rollout," Conner said. "It remains a staggering achievement."
Dubbed the "queen of the skies," the 747 has long been a favorite of the flying public. Conner credited it with "opening up affordable international travel and helping connect the world."
The aircraft made its commercial debut in 1970, and more than 1,500 have now been delivered.
Sutter was involved in other major plane projects at Boeing, including the the Dash 80, the 707 and the 737, according to the company. But it was the 747 "that secured his place in history," it said.
After retiring, he continued to work as a consultant to Boeing.
"By then, his hair was white and he moved a little slower, but he always had a twinkle in his eye, a sharp mind and an unwavering devotion to aerospace innovation," Conner said.
Related: Boeing could end production of its iconic 747 jumbo jet
Sutter's death comes at an uncertain time for the 747's future.
Boeing warned last month it could stop producing the jet if orders don't pick up. The company previously announced it would halve production of the aircraft from 12 per year to just six beginning in September.
-- Thom Patterson and Charles Riley contributed to this report. | http://money.cnn.com/2016/08/30/news/boeing-747-father-joe-sutter-dead/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/2451dc2db129ffa8f135028b0e19d1734ee784c1feb025b31e16d02a084ceb0b.json |
[
"Charles Riley"
] | 2016-08-29T13:37:14 | null | 2016-08-29T08:19:23 | Mark Zuckerberg has added a very special event to his tour of Italy: a meeting with the Pope. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fpope-francis-mark-zuckerberg-facebook-italy%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829074607-mark-zuckerberg-pope-francis-780x439.jpg | en | null | Mark Zuckerberg gives Pope Francis a Facebook drone | null | null | money.cnn.com | What do you give the Pope if you're a tech CEO?
Mark Zuckerberg handed over a Facebook drone when he, and his wife Priscilla Chan, met Pope Francis on Monday.
"It was a meeting we'll never forget," Zuckerberg said. "You can feel [the Pope's] warmth and kindness, and how deeply he cares about helping people.
Zuckerberg updated his personal page on Facebook (FB, Tech30) with a photo of himself giving the Pope a model of Aquila, a solar-powered aircraft that Facebook hopes will expand Internet access in developing countries.
"Together they spoke about how to use communications technology to alleviate poverty, encourage a culture of encounter, and to communicate a message of hope, especially to the most disadvantaged," the Vatican Press Office said in a statement.
Zuckerberg announced his trip to Italy last week after the country was struck by a devastating earthquake. He has scheduled a live question and answer session for later on Monday, and said he was "looking forward to spending time with our Italian community."
The tech CEO has said Rome is a special city to him. He honeymooned there with Chan, and says he is a student of Latin and Classical history.
Zuckerberg also posted a photo of himself running by the Colosseum.
"It's great to be back in Rome! We started the day with a run past the Circus Maximus and House of Augustus up to the Colosseum. It's pretty amazing to run on roads in the city that helped invent them," he said.
Over the weekend, Zuckerberg posted an update and photo from the wedding of Spotify co-founder Daniel Ek, which was held near Lake Como in northern Italy.
Related: In case of emergency, open Facebook
Usually the act of a politician, visiting a country after a disaster would fit with Zuckerberg's recent push to paint himself as a sort of Silicon Valley statesman. He has been carefully crafting his image through Facebook posts, Q&As and public trips to places like China.
The social network has also taken on an unexpected role in international disasters. After events like earthquakes, hurricanes, or bombings, people let friends and family know they're OK with Facebook's Safety Check feature.
-- Livia Borghese and Heather Kelly contributed reporting. | http://money.cnn.com/2016/08/29/technology/pope-francis-mark-zuckerberg-facebook-italy/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/73b9237b6ed941578dbfe68268c8ca087ffcc08297f17f526f5dc56a6f785f62.json |
[
"Ivana Kottasova"
] | 2016-08-30T17:40:22 | null | 2016-08-30T12:08:39 | Apple's effective tax rate in Ireland was just 0.005% in 2014. That means Apple paid $50 tax for every million it made. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fapple-tax-ruling-numbers%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830080947-eu-apple-780x439.jpg | en | null | How Apple paid just 0.005% tax on its global profits | null | null | money.cnn.com | Why is the European Union going after Apple for $14 billion in unpaid taxes?
Consider this: In 2014, the corporate giant paid just $50 in tax for every million it made selling iPhones and iPads to most of the world outside America.
That's a tax rate of just 0.005%. Yes, you read that correctly.
So how was that allowed to happen?
Apple has funneled most of its profits from Europe, the Middle East, Africa and India through Ireland for decades. Nothing usual in that. Others do it too.
But under deals the company struck with the Irish government as far back as 1991, it was allowed to split these profits between its Ireland branch and an Apple head office that existed only on paper.
Apple paid the standard Irish tax rate on profits booked to its Ireland branch. Those it allocated to the phantom head office were tax free, because under Irish law it was then considered a "stateless company."
Guess where most of the profits went?
In 2011, Apple Sales International made 16 billion euros in profits. Less than 50 million euros were allocated to the Irish branch. The rest went to the "head office," out of reach of any tax authority.
It was an arrangement that also suited the Irish government.
Ireland has set its corporate tax rate at 12.5%, one of the lowest in Europe, to attract big companies to the country.
Apple (AAPL, Tech30), Google (GOOGL, Tech30), Facebook (FB, Tech30), eBay (EBAY) and Twitter (TWTR, Tech30) have all set up their EU headquarters in Ireland.
And with them came the jobs. Apple employes 6,000 people in Ireland, many of them making iMacs at a factory in Cork -- once a deprived city in the south of Ireland. Apple says it is the biggest private employer in the city.
EU states can set their own rate of tax. But European officials say Ireland's arrangements with Apple gave the company such a huge financial advantage over its competitors that it constituted illegal state aid.
Apple doesn't want to pay the tax even though the $14.6 billion, plus interest, it might have to repay constitutes just 5% of the $231 billion in cash it has on its books.
Ireland doesn't like the ruling either, calling it an "encroachment" into its sovereignty. The country said Apple has paid what it owed in Ireland. | http://money.cnn.com/2016/08/30/technology/apple-tax-ruling-numbers/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/d86904cd07a66c12761a8613df14538bf8dc636f0aacf7f085d6589a0362aa8b.json |
[
"Sara Ashley O'Brien"
] | 2016-08-30T21:40:34 | null | 2016-08-30T05:22:32 | ABC will pilot a show starring Zach Braff based on Gimlet Media's podcast StartUp. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fabc-zach-braff-startup-podcast%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830162700-zach-braff-startup-780x439.jpg | en | null | Zach Braff to star in pilot show about a podcast | null | null | money.cnn.com | ABC is bringing a popular podcast to the small screen for a potential comedy series starring actor Zach Braff.
The network has committed to a "put pilot" based on Gimlet Media's podcast StartUp, according to a Deadline report. (A "put pilot" refers to the network agreeing to air the pilot or it will be penalized.)
Braff, known for his work on Scrubs and the film Garden State, will star in and direct the pilot.
The first season of podcast, which has had three seasons to date, followed Gimlet Media's brainchild Alex Blumberg during the ups and downs of launching the company back in 2014.
Gimlet Media now has six podcasts under its umbrella and has raised $7.5 million from investors.
Blumberg, a former producer at This American Life, is also the cofounder of Planet Money, a popular NPR show about economic news.
ABC's version of StartUp, which will be based on the podcast's first season, will serve as a reunion of sorts for those involved: Matt Tarses, who co-executive produced Scrubs, will write the script.
Related: 15 questions with Alex Blumberg
The TV pilot's name is only tentative for now, and Gimlet Media's Blumberg, Chris Giliberti, and Matt Lieber will also have a hand in production, according to Deadline.
Blumberg was not immediately available for comment. | http://money.cnn.com/2016/08/30/technology/abc-zach-braff-startup-podcast/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-30T00:00:00 | money.cnn.com/dc298b382eacf2d8cc90f8d462884977c4c4a5ee58173d9e0c2629a922b08a94.json |
[
"Charles Riley",
"Yoko Wakatsuki"
] | 2016-08-26T13:26:43 | null | 2016-08-24T08:45:26 | Japanese police have arrested a driver who allegedly struck and killed a woman while playing Pokemon Go. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F24%2Ftechnology%2Fpokemon-go-death-japan%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_world%2B%2528RSS%253A%2BCNNi%2B-%2BWorld%2529.json | http://i2.cdn.turner.com/money/dam/assets/160711155035-pokemon-go-game-screen-780x439.jpg | en | null | Pokemon Go-playing truck driver kills woman in Japan | null | null | money.cnn.com | Japanese police have arrested a driver who they say struck and killed a woman while he was playing Pokemon Go.
The suspect, a 39-year old farmer, was driving a small truck on Tuesday evening when he failed to notice two women crossing the road because he was playing the popular augmented reality game, the police said.
One of the victims, a woman in her early 70s, died of a spinal injury after being hit by the truck. The other woman has been hospitalized with a severe injury.
The police said the driver told them he was not paying attention and had been distracted by Pokemon Go. It was the first case of a death in Japan resulting from someone playing the game, they added.
Related: Pokemon Go arrives in Rio in time for Olympics
Pokemon Go is based on the 1990s game. But it adds to the fun with augmented reality technology, which allows players to explore their neighborhoods, and to superimpose virtual creatures on the real world.
Various governments have voiced concerns about the game, warning players to steer clear of sensitive areas and military bases. | http://money.cnn.com/2016/08/24/technology/pokemon-go-death-japan/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_world+%28RSS%3A+CNNi+-+World%29 | en | 2016-08-24T00:00:00 | money.cnn.com/24ab5fd48d770360c0039e92c61024a51aed5b3ba602572452ee7c544a1ce30f.json |
[
"Ivana Kottasova"
] | 2016-08-30T17:36:04 | null | 2016-08-30T12:08:39 | Apple's effective tax rate in Ireland was just 0.005% in 2014. That means Apple paid $50 tax for every million it made. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fapple-tax-ruling-numbers%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160830080947-eu-apple-780x439.jpg | en | null | How Apple paid just 0.005% tax on its global profits | null | null | money.cnn.com | Why is the European Union going after Apple for $14 billion in unpaid taxes?
Consider this: In 2014, the corporate giant paid just $50 in tax for every million it made selling iPhones and iPads to most of the world outside America.
That's a tax rate of just 0.005%. Yes, you read that correctly.
So how was that allowed to happen?
Apple has funneled most of its profits from Europe, the Middle East, Africa and India through Ireland for decades. Nothing usual in that. Others do it too.
But under deals the company struck with the Irish government as far back as 1991, it was allowed to split these profits between its Ireland branch and an Apple head office that existed only on paper.
Apple paid the standard Irish tax rate on profits booked to its Ireland branch. Those it allocated to the phantom head office were tax free, because under Irish law it was then considered a "stateless company."
Guess where most of the profits went?
In 2011, Apple Sales International made 16 billion euros in profits. Less than 50 million euros were allocated to the Irish branch. The rest went to the "head office," out of reach of any tax authority.
It was an arrangement that also suited the Irish government.
Ireland has set its corporate tax rate at 12.5%, one of the lowest in Europe, to attract big companies to the country.
Apple (AAPL, Tech30), Google (GOOGL, Tech30), Facebook (FB, Tech30), eBay (EBAY) and Twitter (TWTR, Tech30) have all set up their EU headquarters in Ireland.
And with them came the jobs. Apple employes 6,000 people in Ireland, many of them making iMacs at a factory in Cork -- once a deprived city in the south of Ireland. Apple says it is the biggest private employer in the city.
EU states can set their own rate of tax. But European officials say Ireland's arrangements with Apple gave the company such a huge financial advantage over its competitors that it constituted illegal state aid.
Apple doesn't want to pay the tax even though the $14.6 billion, plus interest, it might have to repay constitutes just 5% of the $231 billion in cash it has on its books.
Ireland doesn't like the ruling either, calling it an "encroachment" into its sovereignty. The country said Apple has paid what it owed in Ireland. | http://money.cnn.com/2016/08/30/technology/apple-tax-ruling-numbers/index.html | en | 2016-08-30T00:00:00 | money.cnn.com/c9f0ec127247388ce12d49fc338761d0edf7f4dfce3b505f9a59055dd3ef68f3.json |
[
"Lisa France"
] | 2016-08-26T13:55:24 | null | 2016-08-25T10:17:06 | Dwayne "The Rock" Johnson topped Forbes' list of highest paid actors by raking in $64.5 million last year. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Fmedia%2Fdwayne-johnson-highest-paid-actor%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_entertainment%2B%2528RSS%253A%2BCNNi%2B-%2BEntertainment%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825012441-dwayne-the-rock-johnson-forbes-780x439.jpg | en | null | 'The Rock' scores as Hollywood's highest paid actor | null | null | money.cnn.com | Dwayne "The Rock" Johnson is crushing the competition as Hollywood's highest paid actor.
The action star and former WWE wrestler tops Forbes list for biggest male acting moneymakers of 2016, released Thursday.
Raking in $64.5 million, Johnson more than doubled his 2015 earnings, and took the title from last year's holder, "Iron Man" star Robert Downey Jr., who dropped to eighth place this year with $33 million.
The number two earner on this year's list, Jackie Chan, made $61 million.
Related: Jennifer Lawrence is once again the highest paid actress
Johnson has been making profitable moves both in front of and behind the camera.
His roles in films like "Central Intelligence" and "Fast 8" have continued to establish him as a film star. He also serves as a producer on the latter, which will be the latest in the highly successful "Fast and Furious" franchise.
On the small screen, he's got a hit on his hands with his HBO series "Ballers," which was recently renewed for a third season. Johnson stars as a retired NFL player turned financial manager and also acts as one of the executive producers.
"Jason Bourne" star Matt Damon came in third with $55 million earned, thanks in part to his Golden Globe winning performance in "The Martian." That sum was a 120% increase over his total from last year.
Fourth place earner Tom Cruise made $53 million; Johnny Depp came in fifth with $48 million.
One surprising entry on the list for some may be Adam Sandler.
The actor landed the number 12 spot with $30 million thanks to his straight-to-streaming production deal with Netflix. | http://money.cnn.com/2016/08/25/media/dwayne-johnson-highest-paid-actor/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_entertainment+%28RSS%3A+CNNi+-+Entertainment%29 | en | 2016-08-25T00:00:00 | money.cnn.com/17e432e175b11a9e90d7d278ed0a7ee2aab75e2cbbb7460ec766391c3a3836dd.json |
[
"Ahiza Garcia"
] | 2016-08-27T19:37:11 | null | 2016-08-25T05:25:27 | Legendary NBA star Kareem Abdul-Jabbar said the gender pay gap is an "injustice" and that men have "gotta get over" their problems with equal pay for women. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Fnews%2Fkareem-abdul-jabbar-gender-pay%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160824164822-kareem-abdul-jabbar-780x439.jpg | en | null | Kareem Abdul-Jabbar: Men have 'gotta get over' their issues with equal pay | null | null | money.cnn.com | Kareem Abdul-Jabbar isn't afraid to express himself. His latest target? The gender pay gap.
Abdul-Jabbar sat down with CNN's Poppy Harlow to discuss his race, politics and unequal pay -- topics that he addresses in his new book "Writings on the Wall: Searching for a New Equality Beyond Black and White."
In his book, Abdul-Jabbar writes that "gender equality may be the most important issue facing our society because it cuts across all races, religions and economic strata."
Abdul-Jabbar said in the interview that it's an "injustice" and is especially problematic because women are often single parents.
"Men are going to have to realize that they made a very cushy situation for themselves and that that can't continue like that and it's going to be uncomfortable for them to give up some of that power and comfort," he said. "They gotta get over it and make the adjustment."
Related: The next battle for Black Lives Matter: Economic justice
Abdul-Jabbar, who supports Hillary Clinton and spoke at the Democratic National Convention on her behalf, also shared his thoughts on Donald Trump.
"If he wanted to address African Americans, he should come and speak to them," he said. "[Trump] says he's gonna make it better, but he never says how."
In the past, Abdul-Jabbar has been outspoken about his thoughts on police relations in the U.S. This summer he tweeted that "both the black and police communities live in fear -- because they cannot see each other's humanity."
During the interview, he said police and people in the community need to get to know each other. His father and grandfather were both police officers, which he noted gave him important perspective.
Abdul-Jabbar said that in the past disproportionate numbers of black people were stopped and frisked by police in New York City.
He also said police shouldn't act in a way that causes them to be seen as an "occupying army," but added that communities need to understand police have an important job to do.
"If there's gonna be peace and tranquility in a neighborhood, the police and the neighborhood have to be on terms that allow them to communicate and go about their business," he said.
Abdul-Jabbar also talked about the importance of athletes speaking out against injustice.
"There's a responsibility because they are also parents and husbands," Abdul-Jabbar said.
He hopes his book will "start a conversation" about the issues plaguing the country that lead to more understanding. | http://money.cnn.com/2016/08/25/news/kareem-abdul-jabbar-gender-pay/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-25T00:00:00 | money.cnn.com/1d964a9a491d8e52443e6080dc867fbf13d3da70fed104a4c550ad778ad411b5.json |
[
"Brian Stelter"
] | 2016-08-28T15:39:18 | null | 2016-08-28T10:49:58 | Legendary newsman Charles Osgood is stepping down from "CBS Sunday Morning," the weekly magazine program he has helmed for the past 22 years. His final day as host will be September 25. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F28%2Fmedia%2Fcharles-osgood-retiring-cbs%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160115081216-charles-osgood-sunday-morning-780x439.jpg | en | null | Charles Osgood retiring from 'CBS Sunday Morning' | null | null | money.cnn.com | Sunday mornings will not be the same.
Legendary newsman Charles Osgood is stepping down from "CBS Sunday Morning," the weekly magazine program he has helmed for the past 22 years. His final day as host will be September 25.
Sources said earlier this year that Osgood was contemplating retirement.
"I'm here to tell you that the rumors are true," he said at the end of Sunday's show.
"For years now people -- even friends and family -- have been asking me why I keep doing this considering my age. I am pushing 84. It's just that it's been such a joy doing it! Who wouldn't want to be the one who gets to introduce these terrific storytellers and the producers and writers and others who put this wonderful show together," he said. He concluded, "Between now and my last Sunday morning I'm going to practice singing that old Weavers song -- 'So long, it's been good to know you. So long, it's been good to know you. So long, it's been good to know you. What a long time since I've been home, and I've gotta be driftin' along."
"CBS Sunday Morning" is far and away the highest-rated Sunday morning news program on TV -- and it has been growing at a time when many other shows have been shrinking.
On Sunday morning Osgood thanked the viewers and said "the time has come" for him to say farewell.
CBS News said he will continue to make "occasional appearances" on the program, however. And Osgood will continue to host his daily news commentaries for CBS Radio.
After a remarkable 22 years, our beloved host #CharlesOsgood has announced his retirement https://t.co/77F6exZv3v pic.twitter.com/HUWUdIeqT8 — CBS Sunday Morning (@CBSSunday) August 28, 2016
The Sept. 25 broadcast of "CBS Sunday Morning" will be a "special edition" dedicated to Osgood's career, the network said.
The show's longtime executive producer, Rand Morrison, said in a statement, "Working with him truly has been an honor, a privilege and a joy. We look forward to paying tribute to him and his legendary career in September — and, of course, seeing him on the radio."
Osgood's contract was set to expire in December.
CBS made no immediate announcement about a successor. But Jane Pauley, a contributor to the magazine program, is seen as the most likely contender.
David Rhodes, the news division president, said Sunday morning that Osgood's "impeccable commitment to quality inspires all of us at CBS News." | http://money.cnn.com/2016/08/28/media/charles-osgood-retiring-cbs/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-28T00:00:00 | money.cnn.com/3bdacacadf798824693a893956ee132d4c289ad1c4d2fadd839196d6c60a9e47.json |
[
"Matt Mcfarland"
] | 2016-08-26T13:48:11 | null | 2016-08-25T10:33:23 | A U.S.-based startup is launching its self-driving car program in Singapore, where the government already embraces the concept. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Ftechnology%2Fsingapore-self-driving-car%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160825081441-nutonomy-singapore-car-780x439.png | en | null | Singapore residents can now ride in a self-driving taxi | null | null | money.cnn.com | The race to offer self-driving vehicles is in full swing around the world.
Cambridge, Massachusetts-based startup NuTonomy is launching a self-driving ride service in Singapore on Thursday -- a move that highlights the range of global players pushing to deliver autonomous vehicles.
NuTonomy, which the Singapore government partnered with earlier this month, has been testing its technology in the country since April. The company is now ready to get the public in its cars, starting with two vehicles in the north end of the city. It expects to have a dozen vehicles by year's end.
NuTonomy will offer free rides to select passengers who summon a car via its app. The conclusion of each ride will include a survey to gauge customers' reactions to the self-driving experience and learn how to improve the service.
"We don't want all 20-year-old tech-savvy young males," nuTonomy co-founder Karl Iagnemma told CNNMoney. "We want to get a cross-section of society into our car."
Related: Uber will soon offer free rides in self-driving Volvos
To help spread the news about the current service, it is reaching out to Singapore businesses and organizations to invite riders.
Each car will have a safety engineer sitting behind the wheel to take control of the vehicle as needed and answer questions.
"There are occasionally still areas where something pops up in front of a car that you have never seen before," he said. "That's [why] we have the safety driver."
NuTonomy previously said it expects to launch its service without the supervision of a safety driver in 2018.
Related: Is Uber's push for self-driving cars a job killer?
The news comes one a week after Uber announced it will offer public trials of self-driving vehicles in Pittsburgh later this month. Ford (F) also recently announced plans to offer a self-driving cars for an undetermiend ride service in 2021. Meanwhile, BMW partnered with autonomous driving company Mobileye to put driverless cars on the road around the same time frame.
The U.S. federal government was expected to release guidelines on self-driving vehicles this summer. The absence of clear rules for fully autonomous cars across the country contributed to the startup deciding to test in Singapore.
"In Singapore, we have much less uncertainty," Iagnemma said. | http://money.cnn.com/2016/08/25/technology/singapore-self-driving-car/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-25T00:00:00 | money.cnn.com/8df602685c7bf11e5fcbb1336468dad0897b6e797fb3e951277dc6802e398678.json |
[
"Heather Kelly"
] | 2016-08-26T23:39:03 | null | 2016-08-26T06:19:52 | The controversial Trending feature will now show articles picked by software instead of people following accusations of political bias. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Ftechnology%2Ffacebook-trending-humans-algorithms%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160629164512-facebook-political-bias-newsfeed-780x439.jpg | en | null | Facebook ditches humans in favor of algorithms for trending news | null | null | money.cnn.com | Facebook is removing the troublesome humans responsible for manually writing news descriptions and headlines for its Trending box. The company is turning the job over to algorithms that automatically select topics and generate text.
The announcement comes months after Facebook (FB, Tech30) was accused of political bias in in its "trending topics." A Gizmodo article claimed the freelance editors responsible for picking the news and writing headlines were favoring liberal topics over conservative ones.
Related: Facebook finds no evidence of trending bias, but makes changes anyway
Following an inquiry from the Senate Commerce Committee, Facebook conducted an internal investigation in May. The company said it found no evidence of any bias, but still said all employees would have to undergo political bias training. Mark Zuckerberg even invited top conservatives to Facebook to learn more about the process.
The trending box shows a list of popular news topics and is intended to "help people discover interesting and relevant conversations happening on Facebook, about breaking news and events from around the world." The lists are automatically personalized based on an individual's location and interests.
As of this writing, the top trending topics on my page were Go Topless Day, Al Roker, and musician Yung Joc, who recently got a haircut.
As part of the overhaul, the box will now only show key phrases instead of headlines and summaries. Below each name or topic, there will be a number of how many people are discussing it on the social network.
Related: Facebook's 'trending topics' spark debate and distrust
The team of contract journalists that was previously hired to manage the trending feature has been disbanded. However, some people will still be manually involved with the process to "ensure that the topics that appear in trending remain high-quality," according to Facebook's post.
For example, "lunch" trends everyday around lunch time, but will not appear in the box unless there is some news-related reason, like Al Roker and Yung Joc eating lunch topless.
Facebook says switching from people to algorithms will make it easier to scale up the feature and deploy it around the world.
"This is something we always hoped to do but we are making these changes sooner given the feedback we got from the Facebook community earlier this year," said the company. | http://money.cnn.com/2016/08/26/technology/facebook-trending-humans-algorithms/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-26T00:00:00 | money.cnn.com/c5ba727aedb3e78d2250932ac22a6162f252065f7ab4874d46786abc75f0f400.json |
[
"Seth Fiegerman"
] | 2016-08-30T11:36:02 | null | 2016-07-27T04:54:05 | Apple announced the sale of its one billionth iPhone on Wednesday, but iPhone sales are slowing. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F07%2F27%2Ftechnology%2Fapple-billionth-iphone%2Findex.html.json | http://i2.cdn.turner.com/money/dam/assets/160321205304-iphone-se-thumb-780x439.png | en | null | Apple sells its billionth iPhone | null | null | money.cnn.com | Welcome to the billion device club, Apple.
Apple announced the sale of its billionth iPhone on Wednesday, nine years after the smartphone first went on sale.
"We never set out to make the most, but we've always set out to make the best products that make a difference," Apple CEO Tim Cook said at an employee meeting on Wednesday, according to a statement. "Thank you to everyone at Apple for helping change the world every day."
The milestone is a reminder of the nearly unprecedented reach and success of the iPhone.
The iPhone catapulted Apple (AAPL, Tech30) to become the most valuable business in the world and continues to account for the majority of Apple's revenue.
But the announcement comes one day after Apple reminded the world that the iPhone magic is fading.
Related: Apple sales fall for second straight quarter
Apple sold 40.4 million iPhones in the quarter ending in June, down from 48 million a year earlier, according to its latest earnings report. That marks the second straight quarter of sales declines.
Customers are taking longer to upgrade their phones. Many analysts have raised concerns that the global smartphone market is saturated. And overall sales in China, touted as Apple's next big market, fell by a third from the previous year.
Cook admitted on a conference call with analysts that Apple was caught off guard by the slower rate of customers upgrading to the iPhone 6S, which was released last fall. "Maybe that was a predictable thing, although we didn't predict it in the beginning," he said. "It took us a little time to realize that."
All eyes are now on the next iPhone launch this fall to reinvigorate sales.
Apple will reportedly break with its usual strategy of overhauling the iPhone every two years. The next generation iPhone is expected to ditch the headphone jack, but otherwise only receive small tweaks compared to the models on the market.
If Apple can't keep growing the market for the iPhone, it will need to find another product with the potential to hit the billion mark. | http://money.cnn.com/2016/07/27/technology/apple-billionth-iphone/index.html | en | 2016-07-27T00:00:00 | money.cnn.com/5926801c37c588318c6ef619f83c752f6c851642bc5d5e5234d8c7f7cf0a8608.json |
[
"Jethro Mullen"
] | 2016-08-29T09:37:10 | null | 2016-08-29T04:30:35 | Japan's Mitsubishi Regional Jet (MRJ), which has already suffered repeated delays, was forced to abort test flights to the U.S. not once but twice. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Fcompanies%2Fmitsubishi-mrj-japan-test-flight-problems%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829160643-mitsubishi-regional-jet-mrj-780x439.jpg | en | null | Japan's first passenger jet had a nightmare weekend | null | null | money.cnn.com | Japan's first ever homegrown passenger jet has had a bumpy few days.
The plane was forced to abort two consecutive test flights to the U.S. over the weekend because of problems with the air management system on board.
It's the latest setback for the aircraft, the Mitsubishi Regional Jet (MRJ), which has already suffered repeated delays.
Built by Mitsubishi Aircraft Corp., the MRJ is an effort by Japan to compete in the global plane-making industry. It's the country's first new commercial aircraft in more than 50 years (the last one was powered by turboprop rather than jet technology).
Related: China's big plan to build a world-class aircraft engine
It made its first flight in November, but the company is now trying figure out what went wrong over the weekend.
"We are in the process of finding out the details of the issue we faced during the last two days," Mitsubishi said Monday. "We are inspecting what the cause is first, and then we will consider the next steps."
The MRJ was meant to fly from Japan to the U.S. to carry out a series of flight tests.
The company has pushed back delivery plans for the MRJ four times in the past seven years. Its first customer, Japan's ANA (ALNPY), placed its initial order in 2008, with deliveries scheduled to start in 2013. The airline now isn't expected to receive the first plane until mid-2018.
Related: Boeing could kill production of its iconic 747 jumbo jet
Mitsubishi says the jet, which seats as many as 92 passengers, uses 20% less fuel than other aircraft in its class because of its efficient engines and aerodynamic design.
The MRJ puts Mitsubishi in competition with Brazilian plane maker Embraer (ERJ) and Canada's Bombardier (BDRAF), which dominate the market for passenger jets with fewer than 100 seats.
Delays aren't uncommon in bringing new planes to market. Industry giants Boeing (BA) and Airbus (EADSF) have both endured embarrassing setbacks on high-profile jets like the 787 Dreamliner and the A380. | http://money.cnn.com/2016/08/29/news/companies/mitsubishi-mrj-japan-test-flight-problems/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/7097f9f83fc25b3045b69a2cffd1a7d6c30021a44df117b86361bd948821365f.json |
[
"Seth Fiegerman"
] | 2016-08-31T13:41:06 | null | 2016-08-31T08:50:08 | Apple, Tidal, Spotify and maybe Amazon are all vying for listeners and clashing over exclusive deals. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F31%2Ftechnology%2Fstreaming-music-wars%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830103913-streaming-music-wars-780x439.jpg | en | null | The streaming music war is getting ugly | null | null | money.cnn.com | Fans waited four years for Frank Ocean to put out a followup to his Grammy-winning album Channel Orange, but when he finally released it this month, some listeners were upset to learn it was only streaming on Apple Music.
"You're tellin me I switched to Tidal & Frank gotta go and drop an album exclusively for Apple Music?" one person tweeted. "I do not have time for you Frank Ocean."
Ocean's release was just the latest example of tech companies vying for exclusives on new albums in a bid to attract customers. It's a tactic that has become more common over the last 18 months as streaming services try to differentiate themselves in an increasingly competitive and combative market.
Apple Music, built on top of the company's $3 billion purchase of Beats, and Tidal, the service owned by Jay Z, have been the most aggressive in signing up exclusives. These include Ocean, Drake and Taylor Swift for Apple and Prince, Beyonce and Kanye West for Tidal.
The exclusives can go on indefinitely, in the case of Prince, or last as little as 24 hours. The rewards can be significant: Tidal got more than one million customers to create accounts in the first week that Beyonce's album Lemonade was released, according to the New York Times.
The two companies have clashed with each other in the process. After a rumor that Apple (AAPL, Tech30) would buy Tidal, West tweeted that "this Tidal Apple beef is f***ng up the music game."
Apple and Tidal may have also angered Spotify, which was recently reported to have penalized artists for signing exclusive deals with rivals by making their music harder to find. (Spotify later denied it.)
More disputes may be coming. Amazon (AMZN, Tech30), which has a track record of bidding to stream exclusive videos, is said to be planning to launch a streaming music option as soon as next month.
Pandora (P) is rumored to be working on an on-demand streaming service too, moving beyond online radio.
Related: 'Carpool Karaoke' series will be exclusively on Apple Music
For a few years, the streaming market was dominated by Spotify and smaller services of varying legality, with less headbutting over exclusive deals.
"That was a really good period. You didn't have to worry about who you were offending," says Ted Cohen, managing partner at Tag Strategic and a former music exec who worked at EMI. "Now it's getting territorial again."
Suddenly big tech companies all want a piece of the pie.
"A major reason why you buy iPhones, Android phones and Amazon Echos is because you play music on them," says David Pakman, a venture capitalist at Venrock and former CEO of eMusic. "Right now, the current tactic [tech companies] are using to fight with each other is not features, it's content."
The price is the same for most -- around $9.99. So a key difference is the selection. As a result, Pakman says the push for exclusive music deals is becoming "the strategy of the moment."
To get those deals, music streaming services have brought on prominent figures from the recording industry who have clout with leading musicians.
Chief among them is Jimmy Iovine, the former head of Interscope Records and cofounder of Beats, who now runs Apple Music. Under the leadership of Iovine and head of original music content Larry Jackson, Apple has worked to broaden the idea of music exclusives.
"Larry and Jimmy don't just think of content as the album or the recording," says Neil Smith, former head of business development at Beats Music who now works with MediaNet. "The exclusive isn't just the album or the single. It's that and the stuff around it."
In the case of Frank Ocean, that meant Apple getting exclusives to a new audio album as well as a separate "visual album" and hosting a live stream from Ocean before the release.
Related: Will buying Tidal help Apple fend off Spotify?
Tidal, meanwhile, has capitalized on its impressive list of owners, including Jay Z, Kanye West, Chris Martin and Rihanna, to land coveted exclusives.
Even Spotify, which has not publicly gone after exclusive deals, has nonetheless brought on Troy Carter, who has managed artists like Lady Gaga.
As Jay Samit, a former exec at Sony (SNE), put it, this is what companies feel is necessary "when a handful of current acts make up 40%-50% of all music revenue and there's a handful of executives who have access to them."
But this approach comes at a cost -- more money spent courting artists, more frustration for listeners who just want everything in one place and more crossfire all around in the industry.
"Everybody is being as aggressive in the current marketplace as terrestrial radio was," says Cohen, referring to the days of record execs jockeying for airplay. "It's just a different set of weapons." | http://money.cnn.com/2016/08/31/technology/streaming-music-wars/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-31T00:00:00 | money.cnn.com/c74ffb12b285fe18d856219ef4600bfdd0841fc14f6c73bbefb09a766646be08.json |
[
"Parija Kavilanz"
] | 2016-08-30T01:37:40 | null | 2016-08-29T05:43:57 | Aria Gems, an American-Afghan company, is helping to legitimize the trade of Afghanistan's iconic Panjshir emeralds. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fsmallbusiness%2Fafghanistan-emeralds-panjshir-aria%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160824114938-aria-gems-miner-emerald-split-780x439.jpg | en | null | This startup is protecting Afghanistan's prized rare emeralds | null | null | money.cnn.com | In Afghanistan, where decades of warfare have ravaged the country, there's a beautiful green oasis tucked between the mountains that's home to something rare and precious.
The Panjshir Valley, located north of Afghanistan's capital Kabul, is an area rich with more than 172 emerald mines.
Known as Panjshir emeralds, the gems boast a unique bluish-green color that make them among the country's most-iconic treasures.
Entrepreneur Habib Mohebi grew up in Kabul hearing about the emerald mines from friends local to that area. Years later, that knowledge would reconnect him to his homeland in a distinctive way.
Related: Hillary Clinton's new plan to help small business owners
Mohebi is the co-founder of Aria Gems, a company that mines and exports Panjshir emeralds. While its mining operations are in Afghanistan, the business is headquartered in New York, and its gem processing and cutting center in Fargo, N.D. There, the rough emeralds are turned into polished stones.
Since it launched in 2013, Aria Gems has become one of the largest suppliers of legally-mined Panjshir emeralds, having shipped more than 30,000 Carats of the stone.
It also owns three underground mines and four acres of surface area emerald deposits in Panjshir Valley.
Related: How a free Super Bowl ad turned Death Wish Coffee into a household name
Mohebi's entrepreneurial journey, however, didn't start with gems. He left Afghanistan for the U.S. in the 1980s, shortly after Russia invaded the country. He settled in Atlanta and opened a tailoring business.
That's where he met co-founder Forrest Snowden, a technologist working with IBM at the time, who frequented the shop. The two became friends.
"I knew nothing about Afghanistan, but I lived in the middle of an Afghan-American community in Atlanta at the time," Snowden said. "Every Friday, I'd sit with him at his shop and talk about his culture over a cup of tea."
In return, Mohebi persistently asked Snowden to start a company together that could help rebuild Afghanistan.
After Snowden left his job, he took up Mohebi's challenge. Along with Mohebi's brother Jamil, the trio first launched Aria Global Logistics in 2009.
The startup helped facilitate U.S. federal contracts for construction, transportation and logistic development in Afghanistan. It later entered into joint ventures with local Afghan construction companies.
"Our business was doing well," Snowden said. "Habib later told me about the emerald mines in Panjshir Valley. In 10 years of knowing him, he never [mentioned them before]."
"I immediately made a business case for the global trade of emeralds and other gemstones in Afghanistan," he said.
Related: This startup wants to prevent another Flint water crisis
Currently, the world's top emerald mining countries of Brazil, Zambia, Zimbabwe and Colombia -- which occupies the biggest piece of the mining pie -- produce a bulk of the global supply. Together, the countries bring in about $1.4 billion worth of gems annually.
By contrast, Afghanistan sells about $50 million worth of Panjshir emeralds annually.
"Most of it is in illegal trade," said Snowden, adding that both sellers and miners are usually underpaid for the value of the gems.
Said Mubin Shah, commercial attache with the Afghan Embassy on Washington, D.C. said the country's gems industry also lacks regulation and safety protocols.
"In Afghanistan, there is a grave issue of lack of education," said Shah. "There are many people in the gems industry who are unlicensed, unprofessional and extracting gems illegally."
In the Pajshir Valley, the emerald mines are owned and operated by community elders. "It's been that way for generations," said Snowden.
But mining often involves explosives: "[It's] not only dangerous, the process also fractures the stone," he added.
In 2013, Snowden and Mohebi launched their second business, Aria Gems, as a part of an effort to legally trade Panjshir emeralds in global markets.
The team only mines in areas free from conflict.
"We wanted to help the miners learn safer modern techniques that wouldn't damage the stone," said Mohebi. "[And] we're training men and women how to cut and polish the stone, too."
The company continues to have ambitious plans for its gems business.
By making the illegal gems trade in Afghanistan legal, Aria Gems wants to create more jobs in the country and generate more income.
"We want to put Panjshir emeralds on the map," said Snowden. "There's no reason why Afghanistan can't one day be second to Colombia in emerald mining." | http://money.cnn.com/2016/08/29/smallbusiness/afghanistan-emeralds-panjshir-aria/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-29T00:00:00 | money.cnn.com/d311117549336b1f98829af95fd0adf0af6c794435380dfe9f05ad408197b350.json |
[
"Jeremy Bowman For The Motleyfool",
"Jeremy Bowman For"
] | 2016-08-27T15:39:10 | null | 2016-08-27T10:25:56 | Retire a millionaire: All you need are time, a savings plan, consistency, and the power of compound growth. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F27%2Finvesting%2Fhow-to-retire-a-millionaire%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160308174345-retirement-savings-bubbles-780x439.jpg | en | null | Become a millionaire: time, a savings plan, compound growth | null | null | money.cnn.com | Like many other things in life, saving for retirement is easier when you have a specific goal. And while $1 million doesn't have to be your magic number, for most Americans, saving up a nest egg of a million is a pretty safe bet.
There's no way to know exactly how much money you'll need in retirement. After all, you don't know how long you'll live or what unexpected costs you may face, but there are some general guidelines out there worth paying attention too.
If you save up $1 million and follow the 4% rule, which says you should draw down your retirement savings by 4% each year, then you'd have $40,000 a year to spend, plus whatever income you get from Social Security and other sources. For most retirees, that's plenty enough to get by.
And the best news is that saving up $1 million isn't as hard as it might seem, thanks to the power of time and compound interest. Here's what it will take to get there based on where you are in life.
For a 25-year-old
Time is your biggest asset as an investor, and starting young -- for those who can -- is the best way to ensure a comfortable retirement.
Assuming a 10% annual rate of return -- the historical average of the S&P 500 -- and 40 working years remaining, a 25-year-old could build a $1 million retirement nest egg by saving just $175 a month in their investment accounts. Moreover, their total contributions over those 40 years would amount to less than 10% of that total -- just $84,000. All the rest would come from returns on investment.
That said, contributing a set amount of money each month over your entire career may be unrealistic, especially given that young people tend to earn more money as their careers progress, and they may also need to pay down college loans or save up for major purchases like a home. Inflation will also lower the value of a defined contribution. However, that also means younger people may want to set their goal above $1 million, as the dollar's buying power is sure to decrease significantly between now and when they retire.
Related: How close are you to the top 1%?
One smart strategy for keeping up with inflation is simply to raise your contribution each year by 3%, the historical inflation average. This should be manageable, as annual raises tend to match cost-of-living or inflation rates.
No matter how you start, starting early -- even if you have very little to save -- is vital, as it will maximize the benefits of compound growth. Investing just $50 a month from age 25 to 35 would yield a nest egg of $10,000 in 10 years. As you age, such a head start can make a big difference in your ability to reach your goal, as you'll see below.
For a 35-year-old
For a 35-year-old starting from scratch, your monthly contributions would have to be more than twice as great as a 25-year-old's to hit the $1 million mark. Socking away $470 each month in your retirement investment accounts over the next 30 years will yield $1 million, assuming that historic average 10% annual rate of return. Your total contribution over the years would be $169,000.
If you already have a bit of a nest egg, that will make hitting your goal easier. If you have just $10,000 in your retirement accounts, the necessary monthly contribution going forward will be about 20% lower. Investing $380 a month with a $10,000 head start and a 10% annual return will get you to $1 million in 30 years. If you're unable to put away $380 a month, any amount will still help. Just $150 each month with a starting balance of $10,000 will yield you $57,000 after 10 years.
For a 45-year-old
According to a report from the New York Fed, Americans' real earnings tend to plateau in their 40s. Because your 40s are likely your prime earning years, you should also make them your prime saving years, as your money still has ample time to produce compound growth. And if you're starting from scratch, then your monthly payments will need to be significantly higher than a younger person's. To reach $1 million by age 65 with 10% annual growth, you'll need to contribute $1,330 a month. Your total contribution will be about $319,000.
Related: When will I be a millionaire?
As we noted in the previous example, starting this calculation with a nest egg helps. Carrying over the $57,000 in savings from our hypothetical 35-year-old makes a significant dent in the necessary contributions. With $57,000 in the bank, a 45-year-old would only have to invest $820 a month to reach $1 million by age 65.
For a 55-year-old
For a 55-year-old who has no savings and hopes to retire by age 65 with $1 million in savings, the outlook is decidedly bleaker. As the math has shown us above, for every 10 fewer years a worker saves, the total amount of contributions required approximately doubles. A 55-year-old starting from $0 would need to make total contributions of $576,000 to reach a $1 million in a 10-year span, assuming returns of 10% per year. Given how little time they would have to let compound growth work its magic, their monthly contribution would have to be at least $4,800, or nearly $60,000 a year. For most Americans, that is just not realistic.
Related: U.S. millionaires control far more of nation's wealth than those elsewhere
If a 55-year-old saver has an existing nest egg, then reaching $1 million becomes a little easier. For example, with $100,000 in the bank, you can get there with monthly contributions of $3,550. The more likely scenario is that you will have to extend your working years or cut back on your spending in retirement. For example, by working for another five years, you can cut the necessary monthly contribution in half to just $2,400 -- and that's with no savings to start with.
There's no magic formula for retirement savings, and life has a way of throwing curveballs -- think layoffs and medical emergencies -- that will force you to adjust your savings plan. But with commitment and discipline, your odds of reaching your goal are higher than you may realize.
As you try to figure out how to reach your "retirement number," remember that a 10% rate of return is not guaranteed.
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That is merely the average of what we've seen in the past, so giving yourself a longer time frame is always helpful. Not only will it help by giving compound growth more time to work, but it also helps to cushion you against volatility.
Still, the stock market has achieved that 10% average annual return despite of two world wars, the Great Depression, the financial crisis, and a number of other calamities. So while there are no guarantees, it stands to reason that U.S. stocks will remain a good bet going forward. | http://money.cnn.com/2016/08/27/investing/how-to-retire-a-millionaire/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-27T00:00:00 | money.cnn.com/79f11509acc77da58f4920702d315f5a6ebdbbed9864de50588759fa5b7f0886.json |
[] | 2016-08-26T19:38:30 | null | 2016-08-26T01:24:48 | Domino's is partnering with drone delivery company Flirtey to test out pizza delivery by drone in New Zealand. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Ftechnology%2F2016%2F08%2F26%2Fsee-dominos-inaugural-pizza-drone-delivery-test.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826132207-drone-delivery-pizza-dominos-780x439.png | en | null | See Domino's inaugural pizza drone delivery test | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/technology/2016/08/26/see-dominos-inaugural-pizza-drone-delivery-test.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-26T00:00:00 | money.cnn.com/e2d17890070d861a561d0da9c7723e3bd5b709daffd8372a21c480fe2480158e.json |
[
"Tom Kludt"
] | 2016-08-26T21:36:30 | null | 2016-08-26T03:51:47 | Ann Coulter says in "In Trump We Trust" that there is only one truly mortal sin Donald Trump could commit. He committed it the same day the book was released. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F26%2Fmedia%2Fann-coulter-book-in-trump-we-trust-immigration%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826133148-ann-coulter-780x439.jpg | en | null | Trump's immigration pivot a buzzkill for Coulter's book tour | null | null | money.cnn.com | In her new book, Ann Coulter says there is only one truly mortal sin Donald Trump could commit. As it turns out, he committed it the same day the book was released.
"Until the bleeding has stopped, there's nothing Trump can do that won't be forgiven. Except change his immigration policies," Coulter wrote in her new tome, "In Trump We Trust."
Coulter's Trump hagiography hit shelves on Tuesday -- the same day the Republican nominee told Fox News' Sean Hannity that he is open to "softening" the very immigration proposals that inspired Coulter and legions of other conservatives to support him. His comments have made the rest of the week very awkward for her, forcing her to explain his apparent apostasy when she expected to be taking something close to a victory lap. and very publicly so.
"I'm starting to worry that he's panicking and talking to the wrong people because he's sounding a bit more like the candidates he defeated," Coulter told MSNBC's Chris Matthews on Tuesday.
"It just sounds very consultant to me," she added. "This could be the shortest book tour ever if he's really softening his position on immigration."
Coulter, who did not respond to an interview request from CNNMoney, has been one of Trump's most vocal media boosters. She was also a believer in his candidacy at a time when most were dismissive, asserting last June that Trump's general election prospects were better than any other Republican. In Trump, Coulter gushed last August, "we finally have someone who genuinely loves America and is not beholden to the donors."
And no issue fueled her support for Trump more than immigration. Her 2015 book, "Adios America," was a 400-page diatribe against undocumented immigrants.
Coulter has said Trump requested and received an advance copy of the book. About two weeks after its release, he announced his candidacy with a speech in which he warned that many undocumented immigrants are drug dealers and rapists. But Coulter insisted at the time that Trump "didn't get his ideas from me."
"He had them," she told the Washington Post. "My book supports his ideas."
Coulter is less supportive of what Trump has said this week, although she's made clear that she is not "abandoning" her candidate. She has also given Trump the benefit of the doubt, saying Wednesday that he is only shifting "rhetorically."
"I don't think it is a change in policy," Coulter told the Washington Examiner. "The policy is anyone who's here illegally is here illegally, does not have the right to be here. We'll decide whether it's in our interest to let them stay or not."
But Trump's morphing rhetoric has made it difficult to make sense of his policies. After indicating this week that he may support a pathway to legal status for undocumented immigrants living here, Trump backtracked in an interview with CNN's Anderson Cooper.
Related: Trump: No legal status for undocumented immigrants
"There's no path to legalization unless they leave the country," Trump said.
Whether Trump is moderating in style or actual substance, Coulter doesn't approve. She told ABC News that she wants Trump "to dump whomever the moron is who told him Americans are staying up at night worried about how people who broke our laws entering, broke our laws staying here, broke our laws taking jobs, how comfortable they are."
The shift on immigration follows yet another shakeup at the top of Trump's campaign, but Coulter speculated that the culprit might be someone with an unofficial role.
"[Trump] seems to be getting contradictory advice," she said. "I've seen these rumors he's now being advised by Roger Ailes, the former head of the Marco Rubio super PAC known as Fox News." | http://money.cnn.com/2016/08/26/media/ann-coulter-book-in-trump-we-trust-immigration/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-26T00:00:00 | money.cnn.com/a341844b110298d0438e8846ecbee857b780ae6dc9682c9af05c6e042d266a43.json |
[
"Sophie Morlin-Yron"
] | 2016-08-30T11:37:44 | null | 2016-08-30T07:02:21 | A Santa Clara-based company is creating jewelry-grade diamonds in a lab, using a plasma reactor that reaches temperatures as hot as the sun. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F30%2Ftechnology%2Fdiamond-foundry-leonardo-dicaprio%2Findex.html%3Fsection%3Dmoney_news_international%26utm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fmoney_news_international%2B%2528CNNMoney%253A%2BInternational%2BNews%2529.json | http://i2.cdn.turner.com/money/dam/assets/160826105527-diamond-foundry-three-diamonds-780x439.jpg | en | null | Why Leonardo DiCaprio is backing man-made diamonds | null | null | money.cnn.com | There may be a new gem among Silicon Valley's glittering startup scene. A Santa Clara-based company is creating jewelry-grade diamonds in a lab, using a plasma reactor that reaches temperatures as hot as the sun.
Natural diamonds are made from pure carbon and form over billions of years under high pressure and temperature, at depths of over 100 km in the Earth's mantle. But Diamond Foundry grows its stones inside a plasma reactor, atom by atom, from a tiny slice of a "mother diamond" mined in Canada. The process takes about a month.
The idea is to produce diamonds that are indistinguishable from their natural counterparts, but free of the controversies associated with real diamonds.
Related: World's most expensive rough diamond sells for $63 million
The diamond industry has been tainted by its association with "blood diamonds," which are mined to fund conflict and civil war. The profits have been used by warlords and rebels to buy arms during conflicts in Angola, the Democratic Republic of Congo (DRC) and Liberia. As well as diamonds fueling conflict, thousands of men, women and children in countries such as Sierra Leone have been used as slaves to extract diamonds using primitive, back-breaking methods.
The Kimberley Process, which regulates the trade of rough diamonds, says conflict diamonds make up only 0.1% of the world's current production. But buying from Diamond Foundry should give consumers total peace of mind.
"We have sustainable diamonds that have none of these practices involved," says Diamond Foundry's Austrian-American CEO and founder Martin Roscheisen.
When their solar energy company Nanosolar folded in 2013, Roscheisen's team of MIT, Stanford and Princeton schooled engineers needed a new project focusing on sustainability. "We like businesses that do good, in addition to being profitable," explains Roscheisen.
After two years of research and development, the company launched its diamonds in November 2015. Teaming up with cutters and designers, it sells engagement rings and loose diamonds of various cuts online.
High-profile investors
The company raised capital of over $100 million from 12 billionaires, including Twitter founder Evan Williams and actor and environmentalist Leonardo DiCaprio, who contacted Diamond Foundry after hearing about them.
"Nobody knew about us then, but it's pretty rare for Silicon Valley to have a tech company focused on diamonds, so word of mouth was going around," says Roscheisen.
DiCaprio, who starred in the 2007 film "Blood Diamond," which explores the conflict around the mining industry in war-torn regions of Africa, has endorsed the company's ethical approach to diamond production.
"Proud to invest in Diamond Foundry -- a co reducing human & environmental toll by sustainably culturing diamonds," the actor tweeted in November.
A novel approach
There are other companies out there making synthetic diamonds, but Diamond Foundry's approach is a novel combination of high-quality stones, bespoke cuts and environmentally conscious energy usage, says Roscheisen.
The plasma produced by its reactor is around 10,000 degrees Fahrenheit -- as hot as the outer core of the sun, Roscheisen explains, describing it as "a sun on Earth." It is a costly and energy-intensive process, but the use of solar and hydropower results in a zero carbon footprint, according to the company.
In terms of the technology, Roscheisen says what sets it apart is the ability to produce high-quality diamonds, thanks to a method involving high temperatures, as opposed to high pressure, and a cooling technology that results in pure and large stones.
In demand
More production facilities are planned in San Francisco and London. For now, the Santa Clara site produces 1,000 carats a month, which is between 150 and 300 gems from every two-week batch. So far, the largest it has grown was a 12-carat stone.
Demand exceeds supply, says Roscheisen. "Everything we produce sells out within two weeks," he adds.
The lab-grown gems cost the same as mined diamonds, with the online price set at 10% to 15% below market price, according to the company. A loose diamond from its online shop costs from $305 for a 0.38 carat round-cut gem to $23,000 for a 2.30 carat gem.
They come certified by the Gemological Institute of America and are as real as those dug out of the ground, says Roscheisen.
"A diamond is a diamond," says Roscheisen. "Scientifically it is a tetrahedral carbon allotrope, and it is the same thing whether mined or man-made." | http://money.cnn.com/2016/08/30/technology/diamond-foundry-leonardo-dicaprio/index.html?section=money_news_international&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_news_international+%28CNNMoney%3A+International+News%29 | en | 2016-08-30T00:00:00 | money.cnn.com/fb0a89e0b4c980a036676adb5d4a775dd460bc3cffba57c82ccab7441b3c2dc4.json |
[
"Richa Naik"
] | 2016-08-30T21:39:32 | null | 2016-08-30T04:51:17 | Tennis star Andre Agassi sits down with CNNMoney's Ahiza Garcia to talk about his return to Arthur Ashe Stadium and his new partnership with Lavazza coffee. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Fnews%2F2016%2F08%2F30%2Fandre-agassi.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160830164527-andre-agassi-00003721-780x439.jpg | en | null | Andre Agassi is back at the U.S. Open | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/news/2016/08/30/andre-agassi.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-30T00:00:00 | money.cnn.com/c5515d63f671492c1a52a3d2418ccc14e0a8f392faf1698f681a0ae1b6c48944.json |
[
"Sara Ashley O'Brien"
] | 2016-08-26T19:39:16 | null | 2016-08-25T03:13:04 | The company lost at least $1.27 billion in in the first half of this year, according to Bloomberg. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F25%2Ftechnology%2Fuber-2016-losses%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/150911135940-travis-kalanick-780x439.png | en | null | Uber bleeds more than $1 billion in six months | null | null | money.cnn.com | Uber may be the most valuable privately held company in the world, but that doesn't mean it's making money.
The company lost at least $1.27 billion in the first half of this year, according to Bloomberg News. Uber declined to comment on the report, but Bloomberg reported that Uber's head of finance Gautam Gupta shared the losses during a call with shareholders on Friday.
Uber is said to have lost $520 million in the first quarter, and $750 million in the second quarter of 2016.
The vast majority of its second quarter losses were a result of subsidies in China, according to a source familiar with the matter. But those won't continue to show up on Uber's income statement.
Related: Uber tests $2 flat fares to take on public transit
Earlier this month, Uber sold its China operations to rival Didi Chuxing. Uber got nearly an 18% stake in Didi as a result of the deal, becoming its largest shareholder.
Uber launched in China in 2013 and expanded its operations to roughly 60 cities. But while the market was a top priority, it was also an incredibly costly one. In February, CEO Travis Kalanick said that Uber was losing $1 billion a year in China.
"Uber and Didi Chuxing are investing billions of dollars in China and both companies have yet to turn a profit there," Kalanick wrote in an announcement about the Didi deal.
Uber has raised at least $13.7 billion and was last valued at $68 billion, according to CB Insights.
While Uber said it was profitable in the U.S. during the first quarter of this year, Bloomberg reported that it lost roughly $100 million in the U.S. during the second quarter.
That comes as Uber battles its biggest U.S. competitor, Lyft, for market share, each using compelling promotions and deals to persuade customers to ride with them. | http://money.cnn.com/2016/08/25/technology/uber-2016-losses/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-25T00:00:00 | money.cnn.com/44c85aedf1f32ab4ef035d834ab4cfbe4f219476317197bbba6ea34a200d7636.json |
[
"Matt Mcfarland"
] | 2016-08-29T21:38:43 | null | 2016-08-29T12:01:56 | The city will begin tracking air quality, weather and road data to better inform government decisions. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Ftechnology%2Fchicago-sensors-data%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829105108-chicago-array-of-things-780x439.jpeg | en | null | Chicago gets serious about tracking air quality and traffic data | null | null | money.cnn.com | There may be a solution to asthma perched high above a handful of Chicago intersections.
Last week, the city began installing sophisticated computers on traffic poles to track air quality, weather and road data at a block-by-block level.
The project's leaders liken the project to giving an entire city its own Fitbit (FIT), which should help it better track and address everything from public health risks to congestion on roads.
"Better data means better outcomes," said Brenna Berman, Chicago's chief information officer.
The city is installing 100 of the computers -- called nodes -- this year. The project's leaders plan to have 500 nodes in place by the end of 2018. The devices cost between $1,200 and $1,600 each, and the research is funded by the National Science Foundation.
The nodes gather a range of environmental data including air and surface temperature, humidity, barometric pressure, cloud cover, haze, vibrations, and sound and light intensity. The computers will also track pedestrian and vehicle traffic plus nitrogen dioxide, carbon monoxide, ozone, hydrogen sulfide and sulfur dioxide.
Related: Google's artificial intelligence can actually help the environment
The initial rollout includes the neighborhood of Pilsen, which has a highway running through it. Some of the nodes will be placed adjacent to the interstate to gauge how proximity to highways impacts air quality. Some nodes will also be placed near city factories.
Bus routes could potentially be changed to keep children farther from areas with poor air quality. Trees could be planted near trouble spots. Then leaders could check back in a few years to see if planting trees positively impacted air quality and local health. The findings could be used to inform decisions elsewhere in the city and potentially around the world.
"Kids could focus on getting their school work done, rather than making sure they have their asthma medication," said Charlie Catlett, the project's lead investigator and director of the Urban Center for Computation and Data.
Related: Amsterdam birdhouses give free Wi-Fi
Aside from helping the city with its own analyses, a new breed of civic-minded techies can apply their own curiosity to the wealth of new data.
Chicago is open sourcing the data, giving anyone the potential to do a creative analysis. Catlett imagined people looking at an overlay of construction permits and noise in a neighborhood. Or someone might compare air quality with the number of 911 calls in a neighborhood.
Chicago's project, called the Array of Things, exemplifies the new trend of cities gathering data and sharing it to operate more efficiently. Concerned citizens can increasingly analyze data for the common good. Earlier year a Stanford student, Joshua Browder, made headlines when he built a website to help thousands of drivers get out of unwarranted parking tickets.
Leading tech companies have long harnessed the promise of crunching data. In July, Google (GOOG) reduced the power bill at its data centers by using sensors' data to pinpoint inefficiencies in how the huge buildings operate. Now governments are catching on to the potential as well.
"Before you might have a gut feeling that this seems unjust, for the first time you can actually prove it," said Ben Wellington, the editor of IQuantNY and a professor at the Pratt Institute in New York. | http://money.cnn.com/2016/08/29/technology/chicago-sensors-data/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-29T00:00:00 | money.cnn.com/8aa6e91057e1042bc9a69ed78a900af7199cdc89cfbb54f3901370339d826dfa.json |
[
"Matt Egan"
] | 2016-08-29T21:38:20 | null | 2016-08-29T01:57:25 | The EpiPen scandal has transformed Mylan Pharmaceuticals and its powerful CEO Heather Bresch into the newest symbols of corporate greed gone bad. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Finvesting%2Fepipen-price-rise-history%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829133056-heather-bresch-780x439.jpg | en | null | How EpiPen came to symbolize corporate greed | null | null | money.cnn.com | The EpiPen scandal has transformed Mylan Pharmaceuticals and its CEO Heather Bresch into the newest symbols of corporate greed.
In the span of just a few weeks, they've gone from little-known players in the vast pharmaceutical industry to the targets of national ridicule over a relentless series of EpiPen price hikes.
Since 2009, Mylan has jacked up the price of the lifesaving allergy treatment an incredible 15 times. The list price on a two-pack of EpiPens is $609, up 400% from seven years ago.
The national outrage this month, sparked by a social media campaign by parents, has forced Mylan (MYL) to respond by taking the unusual step of launching a generic version of EpiPen at a 50% discount to its current price, as well as other moves to make the treatment more affordable.
Despite those efforts, Congress is now investigating Mylan. The powerful House Oversight Committee sent a letter to Bresch on Monday requesting a briefing and a trove of documents from the company about EpiPen.
Mylan has sought to pin the blame for the sticker shock on a shadowy health care supply chain. Bresch called the system "broken" and said it was in a "crisis," similar to the financial crisis of 2008 that blew up the economy.
Related: EpiPen CEO: Blame the 'broken' system, not me
Lack of 'empathy'
But Bresch's arguments aren't going over well with some.
The company doesn't understand the "very emotional, very stressful situation" parents are going through this back-to-school season, according to Wells Fargo analyst David Maris.
"No one's expecting Mylan to give away their products. But empathy is the most human emotion. And when you raise price year after year -- by a lot -- for a drug that's lifesaving, it shows a complete lack of empathy," he said.
Maris also points out that no one forced Mylan to dramatically raise EpiPen prices.
"It's outrageous. People shouldn't be fooled by the idea that the system made them do it. Mylan is to blame for the high prices of EpiPen," Maris said.
Broken system or opportunistic?
In fact, the most recent round of price hikes look more opportunistic, rather than the result of problems in the health care system.
In November 2015, Mylan raised EpiPen prices by 15% (for the 14th time since 2009). The hike came just a month after the drug's main rival Auvi-Q was pulled off the market. Six months later, the company jacked up prices again, by another 15%.
"With competitors out of the market, Mylan was in a position to price up EpiPen, which they did," Bernstein analysts wrote in a recent report.
EpiPen CEO made $19 million last year
Bresch, who is the daughter of U.S. Senator Joe Manchin, has sought to push back against these criticisms.
"You can do good and do well, and I think we strike that balance around the globe," Bresch told The New York Times.
However, she added: "I am running a business. I am a for-profit business. I am not hiding from that."
Business has indeed been very good -- for Mylan and Bresch alike -- thanks in part to the increasingly-lucrative EpiPen.
Ever since Mylan started raising EpiPen prices in 2009, the profit margin of the Mylan division that sells the drug has quadrupled, according to Wells Fargo's analysis of corporate filings.
Rising profits are a big reason why Bresch earned nearly $19 million in total compensation last year. And over the past three years, she made $54 million.
Related: Here's what happened to AIDS drug that spiked 5,000%
Mylan's defenders note that the $609 list price of EpiPen may get all of the attention, but most consumers don't actually pay that. Even before Mylan's recent cost-cutting moves, the company has indicated that 80% of its prescriptions translate to $0 out-of-pocket expenses.
Just 4% of EpiPen prescriptions actually led to $600 or more in out-of-pocket expenses, according to an analysis by Evercore analyst Umer Raffat. However, that still translates to a significant 150,000 prescriptions at that high price, Raffat said. | http://money.cnn.com/2016/08/29/investing/epipen-price-rise-history/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-29T00:00:00 | money.cnn.com/3aaa91ccead064bde3598c262d148fc5e3bc5bb3b3f08f935d09177a04b9bec5.json |
[
"Channon Hodge",
"Steven Sevilla",
"Dylan Kress"
] | 2016-08-29T21:39:24 | null | 2016-08-29T03:23:05 | The Mercy Virtual Care Program is cutting health care costs by getting hundreds of senior citizens to use iPads as an alternative to doctors' visits. | http%3A%2F%2Fmoney.cnn.com%2Fvideo%2Ftechnology%2F2016%2F08%2F29%2Ftelemedicine-with-ipads.cnnmoney%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_freevideo%2B%2528RSS%253A%2BCNN%2B-%2BVideo%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829115107-aia-virtual-care-780x439.jpg | en | null | Seniors swap hospital visits for iPads | null | null | money.cnn.com | Our Terms of Service and Privacy Policy have changed.
By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service. | http://money.cnn.com/video/technology/2016/08/29/telemedicine-with-ipads.cnnmoney/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_freevideo+%28RSS%3A+CNN+-+Video%29 | en | 2016-08-29T00:00:00 | money.cnn.com/7da5c44b8bdbac16756498a571fed48144e885955a4aa399e8081f4567ed8ad8.json |
[
"Heather Long"
] | 2016-08-29T21:38:27 | null | 2016-08-29T01:36:09 | Nearly 10,000 current and former Chipotle workers have joined a class action lawsuit alleging the company forced them to work 'off the clock' without pay. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F29%2Fnews%2Feconomy%2Fchipotle-lawsuit-nearly-10000-workers%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fedition_us%2B%2528RSS%253A%2BCNNi%2B-%2BU.S.%2529.json | http://i2.cdn.turner.com/money/dam/assets/160829091222-chipotle-workers-780x439.jpg | en | null | Nearly 10,000 workers sue Chipotle for unpaid wages | null | null | money.cnn.com | Nearly 10,000 workers are suing Chipotle for allegedly cheating them on their pay.
Current and former Chipotle (CMG) employees claim that the company made them work extra hours "off the clock" without paying them. It's a practice known as wage theft, and Chipotle is allegedly doing it all over the United States.
"Chipotle routinely requires hourly-paid restaurant employees to punch out, and then continue working until they are given permission to leave," according to the class action lawsuit known as Turner v. Chipotle. It's named after a former Chipotle manager in Colorado, Leah Turner, who claims she had to work without pay and was told to make workers under her do the same in order to meet budget goals.
Chipotle denies any wrongdoing and says the case has no merit. The company says it has paid all wages it owes employees.
Briana Alexander is one of the nearly 10,000 workers who have joined the lawsuit. She worked at a Chipotle in Miami, Florida for about a year, starting in the fall of 2013.
"Behind the scenes, [Chipotle] is not always what it seems," Alexander told CNNMoney. "I can say I have worked off the clock."
Alexander says she was forced to stay late numerous times at her store. If the workers weren't done by midnight or 12:30am, they were clocked out but told to keep working until the job was finished, even though they were no longer getting paid. Alexander also claims she worked 12-hour shifts on some days, but was clocked out after her shift time ended even though she actually continued to work on busy days.
Related: I'm 35 and living with my mom again to get by
Why this lawsuit is different
Chipotle has faced similar lawsuits before, but this is the first time there has been such a large class action case against the company for wage theft. As of Friday, 9,961 current and former workers have sent in consent forms to join the lawsuit.
They come from about every state that Chipotle operates in, according to lawyer Kent Williams of Williams Law Firm, who is representing the employees in Turner v. Chipotle.
"Chipotle has argued this is a few rogue managers who aren't following policy. Our view, especially given the number of people opting in, is that it's a systematic problem at Chipotle," says Williams.
Related: Chipotle under fire for illegal workplace policies
Problems this summer at Chipotle
Felipe Ricardo believes Chipotle continues to skimp employees on wages. He worked at a Chipotle in Danbury, Connecticut in the summer of 2016.
"I only worked nights because I have a full-time job during the day," Ricardo told CNNMoney. "Normally the schedule says you end at 11:30pm, but it's almost impossible to get out at 11:30pm."
He remembers working until 1 am one time. He told the manager to make sure his hours were adjusted to reflect the extra time. He recalls her saying, "Don't worry about it." But when he got his paycheck, the hours weren't adjusted. He complained, and isn't sure if the hours were ever changed. Working two jobs didn't leave him with a lot of time to scrutinize his hours, he says.
Ricardo has not joined the lawsuit. The 23-year-old has since left Chipotle to go back to school.
All hourly employees who worked at Chipotle from February 2012 onward were mailed a card in April asking if they wanted to join the class action case. Workers had to respond by July.
Related: As wages rise, CEOs are starting to complain
Problems at closing time
CNNMoney has also heard from dozens of Chipotle workers who claim to have personally experienced wage theft at their restaurants or seen it happen to others. Some say they were not paid for five or more hours a week.
The main complaints center around what happens at closing time. Workers are supposed to end their shifts between 11pm and midnight at many restaurants, but workers tell CNNMoney that they almost never leave on time.
Chipotle's system automatically clocks workers out by 12:30am in most places, but workers say they are often asked to stay longer to finish cleaning and preparing for the next day. Managers are supposed to adjust the hours, but workers allege that doesn't always happen.
Chipotle is trying to regain customers since an outbreak of foodborne illnesses (including E. coli and norovirus) made customers in several states sick last year.
Customers have placed "an extraordinary level of trust in us and have come to know that we will do the right thing when it comes to our food, our employees and our approach to running a business," said Steve Ells, Chipotle's founder and CEO, on the company's earnings call in late July.
Chipotle is expected to continue fighting the case. | http://money.cnn.com/2016/08/29/news/economy/chipotle-lawsuit-nearly-10000-workers/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fedition_us+%28RSS%3A+CNNi+-+U.S.%29 | en | 2016-08-29T00:00:00 | money.cnn.com/7aaa4156b9d4c159bbd539846fd3dd0ab141436b2dca61b201d4ca6b0e981659.json |
[
"Sophia Yan",
"Stella Ko"
] | 2016-08-31T11:40:43 | null | 2016-08-31T06:04:05 | Hanjin Shipping, one of the industry's global giants, filed for court receivership on Wednesday after its creditors cut off support. | http%3A%2F%2Fmoney.cnn.com%2F2016%2F08%2F31%2Fnews%2Fcompanies%2Fhanjin-shipping-south-korea-receivership%2Findex.html%3Futm_source%3Dfeedburner%26utm_medium%3Dfeed%26utm_campaign%3DFeed%253A%2Brss%252Fcnn_latest%2B%2528RSS%253A%2BCNN%2B-%2BMost%2BRecent%2529.json | http://i2.cdn.turner.com/money/dam/assets/160831170620-hanjin-shipping-780x439.jpg | en | null | Global trade slump sinks South Korean shipping giant Hanjin | null | null | money.cnn.com | Weak international trade has claimed a big victim in the global shipping industry.
Hanjin Shipping, one of the world's biggest cargo carriers, filed to go into receivership on Wednesday after its creditors cut off support.
The South Korean company has succumbed to a crippling combination of lackluster global trade, a glut of container ships and brutal competition from rivals.
International shipping companies have been struggling since the financial crisis. Hanjin, for instance, posted losses in four of the past five years.
It had been working on a restructuring program in recent months to try to shore up its battered finances. But its plans failed to satisfy its creditors, who decided Tuesday to turn off the money tap, a Hanjin spokesperson said.
Some Hanjin vessels have already been detained or turned away from ports, it said. And going into receivership, under which a court will decide the firm's fate, will add to the headache.
Related: Global shipping industry takes a hit from China slowdown
"It is very likely that all our assets will be frozen in less than a week," the company spokesperson said. That means many goods won't be delivered to customers, potentially leaving Hanjin liable for paying back clients.
Hanjin Shipping shares had plunged 24% Tuesday before being suspended from trading.
Around 90% of the world's goods are transported by sea, so when demand drops, shipping companies are among the first to notice.
The slowdown in China, the world's biggest exporter, has contributed to weakening global demand.
Another challenge is overcapacity. The shipping industry started producing bigger and bigger vessels with the aim of increasing efficiency and boosting profits. But the strategy had the reverse effect, as the extra competition actually forced down prices. Some ships are even now hanging out in international ports, empty and waiting for cargo.
After an ugly year in 2015, global shipping consultancy Drewry has forecast losses of more than $5 billion for the industry this year. | http://money.cnn.com/2016/08/31/news/companies/hanjin-shipping-south-korea-receivership/index.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_latest+%28RSS%3A+CNN+-+Most+Recent%29 | en | 2016-08-31T00:00:00 | money.cnn.com/2e39118f51db8c0405d47e2be08d761ceb9d3b0efa51df8aa241aeff26dab2b3.json |
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