Posts

Showing posts from February, 2020

'No merit': Palmer links fresh ASIC charges to Mineralogy spat

Image
Businessman and former federal MP Clive Palmer has linked fresh charges brought against him by the corporate watchdog to his company Mineralogy's dispute with former business partner Citic, claiming they hold "no merit".The Australian Securities and Investments Commission commissioner John Price on Friday told a joint parliamentary committee Mr Palmer had been charged with four offences relating to alleged misconduct in 2013, the year he was elected to Parliament.Clive Palmer has hit out at Australia’s corporate watchdog over fresh charges laid against him this month.Credit:AAPThe charges – of dishonestly gaining a benefit and misusing his position as a director – are due to be heard in Brisbane's Magistrates Court on March 20.In a statement Sunday, Mr Palmer said the matters related to his company at a stage when it was dealing with his funds alone and there was no alleged victim."There was no merit in the ASIC summons and it would be shown to be yet another AS…

SpaceX Prototype Spacecraft Blows Up During Testing In Texas

Image
ASpaceX prototype for its Starship SN1 super-rocket blew up during a pressure test on Feb. 28, according to areport from GeekWire.The prototype, which was destroyed during a test at the company’s facility in Boca Chica, Texas, near Brownsville, imploded as it flew into the air and quickly fell to the ground, according to Saturday’s report.“Initial reports suggested that the tank suffered a structural failure during pressurization,” GeekWire wrote. “Information about potential injuries or the extent of damage wasn’t immediately available.”The unfinished vehicle is envisioned to become a reusable transportation system to carry crew and cargo to the moon and Mars, according to SpaceX.NASASpaceflight31K subscribersSpaceX Boca Chica – Starship SN1 cryo proof test failure – Feb 28, 2020Copy linkInfoShoppingTap to unmuteIf playback doesn’t begin shortly, try restarting your device.Full screen is unavailable. Learn MoreYou’re signed outVideos you watch may be added to the TV’s watch history a…

The pope has joined forces with Microsoft and IBM to create a doctrine for ethical AI and facial recognition. Here's how the Vatican wants to shape AI.

Image
The Vatican called for stronger regulation of the use of artificial intelligence in a plan announced on Friday, Reuters first reported.The document also said AI tools should work fairly, transparently, reliably, and with respect for human life and the environment.Microsoft and IBM joined Pope Francis in endorsing the document, according to Reuters.This isn't the first time Francis has weighed in on the moral and ethical issues that come with new technologies.Visit Business Insider's homepage for more stories.Pope Francis wants to see facial recognition, artificial intelligence, and other powerful new technologies follow a doctrine of ethical and moral principles. In a joint document made public on Friday, the pope, along with IBM and Microsoft, laid out a vision that outlined principles for the emerging technologies and called for new regulations, Reuters first reported.The Vatican's "Rome Call for AI Ethics" said that AI tools should be built "with a focus …

GTA 5 update adds online F1 racing 'mini game' with seven tracks

Image
GRAND Theft Auto has always featured high-speed racing – but there's now a proper Formula One mode.Rockstar has added Open Wheel Racing, where players can whizz through a special event called the San Andreas Prix.
The new feature lives inside GTA Online – the expansive multiplayer portion of GTA 5.And it's available right now with the latest update.There are two cars available: the Progen PR4 and the Ocelot R88.And there are seven different tracks set around the world of GTA Online.For instance, there's Height of Society, which is a "historic" street circuit with narrow straights and winding hairpins.Another track named Brace For Impact is set at the Los Santos International Airport.You'll race around runways on a track with very tricky bends – and a particularly long straight. It's an airport, after all."The future of competitive motorsport has arrived, and it's in a hurry," GTA creator Rockstar explained."Two brand new open-wheel ultra…

Apple CEO Tim Cook: China getting coronavirus under control

Image
Apple CEO: Feels to me China is getting coronavirus under controlApple CEO Tim Cook discusses his optimism towards China containing the coronavirus and how Apple is managing product supply and production.Programming note: Tune in to Fox Business Network Friday at noon and 3 p.m. ET to watch Susan Li's exclusive interview with Tim Cook.Continue Reading BelowApple CEO Tim Cook told FOX Business' Susan Li Thursday that he is "optimistic" about China managing the coronavirus outbreak, which has slowed production at the tech giant's suppliers."It feels to me that China is getting the coronavirus under control," Cook said. "You look at the numbers, they're coming down day by day by day. And so I'm very optimistic there."He stressed that iPhone gets parts from "everywhere in the world," including China, which has seen 2,744 deaths among 78,497 cases, mostly in the central province of Hubei.TickerSecurityLastChangeChange %AAPLAPPLE I…

Disney CEO Bob Iger steps down in surprise announcement

Image
Disney CEO Bob Iger, who steered the company's absorption of Star Wars, Pixar, Marvel and Fox's entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement on Tuesday.The Walt Disney Co. named as his replacement Bob Chapek, most recently chairman of Disney's parks, experiences and products business.Bob Iger’s decision to step down has surprised analysts.Credit:Bloomberg"Did not see this coming — Wowza," tweeted LightShed media analyst Rich Greenfield.Iger will remain executive chairman through the end of his contract on December 31, 2021. Besides leading the board, Iger said he will spend more time on Disney's creative endeavours, including the ESPN sports network, the newly acquired Fox studios and the Hulu and Disney Plus streaming services. He said he could not do that while running Disney on a day-to-day basis."It was not accelerated for any particular reason other than I …

The Trump Labor Board Is Making It Harder For Fast-Food Workers To Unionize

Image
The National Labor Relations Board is releasing a long-awaited rule that will make it harder for workers in fast food and other industries to bargain collectively, delivering another win for employers and a setback to worker groups.The regulation will limit the scenarios under which corporations are considered “joint employers” alongside other companies they have a relationship with. For example, McDonald’s would likely not qualify as a joint employer with its franchisees, making it tougher for workers at different franchised restaurants to join together as employees of McDonald’s.  The new rule reverses a determination made five years ago, when the board had a majority of Democrats and tended to rule in favor of workers. The previous, looser definition of joint employment had infuriated the fast-food industry because it put companies like McDonald’s and Burger King potentially on the hook for labor violations in franchised restaurants. It also opened the door to workers across entire…

Appen defies market gloom as it flags minimal coronavirus impact

Image
High-flying artificial intelligence firm Appen said the coronavirus is expected to have a negligible impact on its operations despite its reliance on China as a growth market, after the company beat market expectations with its full-year result on Tuesday.Appen, which provides machine learning services for the artificial intelligence market, said it is yet to see any impact on its major US customers or its China operations, which it described as young and facing modest growth targets.Appen chief executive Mark Brayan is targeting China and the government sector globally for growth. Credit:Dominic Lorrimer "Its very early in the situation and we are monitoring it closely, but overall we maintain a view that the coronavirus will have negligible impact on our 2020 group revenue and earnings based on currently available information," Appen chief executive Mark Brayan told analysts and investors on a conference call.“Of our major US customers, combined they rely on China for less…

‘Bachelor’ ski club up for auction in Vermont — take a look

Image
Why are more Americans buying homes with dual master bedrooms?An expert suggests sleeping in separate bedrooms could be the key to a longer marriage and this trend is impacting real estate and homebuilding. FOX Business’ Lauren Simonetti with more.The next batch of bachelors won’t be staying at The Hermitage Club.Continue Reading BelowThe 838-acre ski resort in Vermont where ABC’s “Bachelor Winter Games” filmed four episodes is up for auction, according to FTI Consulting, the receiver on the foreclosure of the club. The resort shut its doors in 2018 after facing financial difficulties.The Hermitage Club at Haystack Ski Mountain includes an 80,000-square-foot clubhouse, a bowling alley, movie theater, par-72 golf course and pool.BON JOVI SELLING HUGE NEW JERSEY ESTATEMany members of the club, according to the New York Post, own homes in the surrounding area and paid club fees as much as $85,000 to join and $15,000 per year to maintain.HERE'S WHAT YOU CAN GET FOR $1M IN OKLAHOMA CIT…

Global Rush to Safety Sends Treasury Yields to Lowest Since 2016

Image
Traders are preparing for the worst as the coronavirus spreads across national borders, stoking fears about its economic impact.Investors snapped up U.S. Treasuries, sending the yield on 10-year securities to the lowest level since 2016. In Europe, the entirety of Germany’s bond yield curve fell back below 0% for the first time since October, meaning that investors may have to pay for the privilege of holding them to maturity. Globalstock indexes tumbled, with S&P futures dropping 2.6%, the most in six months.The total stock of negative-yielding investment-grade debt looked set to jump back above $14 trillion.Other bond markets took a beating. Italy’s debt appeared most vulnerable, with borrowing costs soaring above those of Greece’s after the government imposed a lockdown on an area of 50,000 people near Milan, with infections in the country rising toabout 150 from just a handful a week ago. The outbreak threatens to weigh further on the country’s already-struggling economy.“The …

You can keep red passport after Brexit one launches - depending on expiry date

Image
For the last 30 years, British citizens have had burgundy-covered passports because of the UK's membership of the European Union. However, due to Brexit, campaigners have demanded that the colour of passports be restored to the shade of dark blue they were before we joined the EU. And the Home Office were more than happy to make this change – with British passports becoming blue once again this year. Today it was announced that the first batches of blue passports will be sent out in early March, but what does that mean for those of us who still have red passports?Well, it's good news if you're not keen to give your burgundy one up just yet, as you probably don't have to just yet.
Launch date of Brexit blue passport confirmed and they'll be available in weeks
First look at Brexit blue passport as Boris Johnson shows off early batch All red passports can still be used for travel until they expire – so as long as you've got a decent chunk of time left on yours, yo…

TikTok viral stars could make up to $1m per post, say researchers

Image
Teenagers used to aspire to become astronauts, firefighters, footballers or pop stars, but times change and so do career goals. Today, more than half of millennials and Generation Z-ers – those aged 13-38 – in the US aspire to become social media influencers, according to recent research.The Chinese viral video app TikTok is the platform of choice for young people seeking to monetise their talents because it seen as rewarding anyone’s ability to entertain, whereas Instagram or YouTube tend to reward those who already have celebrity status.And for a very lucky few, taking to TikTok could be a seriously lucrative career option. Marketeers reckon that the most popular TikTokers could currently charge close to $200,000 (£155,000) per post if they promote and collaborate with brands. Researchers at Morning Consult, a US tech research group working on behalf of the games company Online Casino, argue that TikTok is growing so fast in popularity that some influencers might even be able to cha…

BMW's new additions to the 2-series line-up provide options

Image
Is BMW messing with people’s minds? The German marque now has three completely different model lines, all bafflingly called 2-series.The rear-wheel-driven 2-series two-door coupe and front-wheel-driven 2-series Active Tourer/Gran Tourer people movers we already know, but there is now the car you see here – the 2-series Gran Coupe.The latest, a four-door sedan, which goes head on with Mercedes’ CLA saloon, is based on the latest 1-series hatch. Being a 1-series spin-off, it retains the donor car’s transverse engine and front-drive layout (except for the range-topping M235i, which is all-wheel-driven).BMW calls it a Gran Coupe because it says the car’s arched roofline and frameless windows give it coupe-like looks. The pictures speak for themselves, so I will let you be the judge of that.If the cabin of the 2-series Gran Coupe (let’s call it the 2GC) looks familiar, it is because the dashboard is lifted from the 1-series – not a bad thing since it is pleasantly styled and logically laid…

Rio Tinto takes Mongolia mine tax fight to UN panel

Image
Australian mining giant Rio Tinto has launched action with a United Nations arbitration panel in the hope of ending a long-running dispute with the Mongolian government over taxes paid by its giant copper and gold mine in the Gobi Desert.In a sign of further friction between Rio Tinto and the Mongolian government over the Oyu Tolgoi mine, the company on Friday said it had initiated a formal request with the UN Commission on International Trade Law relating to $US155 million ($234 million) in disputed taxes that Mongolia believes Rio's subsidiaries should have paid between 2013 and 2015.Rio Tinto’s Oyu Tolgoi mine is one of the world’s richest copper deposits. Credit:"We have worked diligently with the government and tax office representatives in Mongolia to find a mutually acceptable settlement and came to the conclusion that arbitration is the best way forward to resolve this issue," said Arnaud Soirat, the global miner's chief executive of copper and diamonds.Rio&#…

ACCC clears Chinese takeover of brands like Dairy Farmers and Big M

Image
The competition watchdog has given the green light to a $600 million deal that would see China Mengniu Dairy acquire Lion's dairy and drinks business.The regulatory tick by the Australian Competition and Consumer Commission means that the fast-growing Chinese dairy giant will continue expanding and improving its capability to service growing Asian markets.Under the deal, which still needs Foreign Investment Review Board approval, Mengniu will acquire big name Australian dairy and juice brands including Dairy Farmers, Big M, Pura, Daily Juice and Berri.China Mengniu Dairy Company is poised to acquire Lion’s dairy and drinks business.Credit:Paul HarrisA key consideration of the ACCC was the potential impact of the deal on competition for the purchase of raw milk from dairy farmers in Gippsland, Victoria.Lion owns dairy processing facilities at Morwell in Gippsland and Chelsea in suburban Melbourne. Mengniu through a subsidiary has an indirect interest in the dairy processor Burra Fo…

Trump To Rally GOP Voters In A State Where He Was Already Tabbed The Caucus Winner

Image
LAS VEGAS ― President Donald Trump is staging a Las Vegas campaign rally Friday, even though Nevada Republicans already rigged their caucus to ensure he would win by canceling the presidential preference vote.Trump’s third rally of the week is to take place at the city’s convention center at noon, local time. But Trump effectively won the state’s 25 delegates to the summer nominating convention five months ago at a state party meeting in Winnemucca.“He has overwhelming support from Republicans in this state. He has like 99.9%. It’s amazing,” said Michael McDonald, Nevada’s state GOP chairman. He added that the party would use the few hundred thousand dollars saved to help down-ballot candidates this November.“We haven’t had any blowback,” McDonald said.Stuart MacGuire, though, is one Nevada Republican who is happy to offer some now. “Why don’t they trust Nevada Republicans to vote? What are they afraid of?” he said.At the time of the decision to cancel the caucuses, three other Republ…

You could be fined up to £5,000 and even lose your licence if you don't indicate when turning near a pedestrian

Image
FAILING to indicate when turning near a pedestrian could see you hit with a large fine and points on your licence.And if you forget to signal and a passerby is injured, you could even be disqualified from driving.Signalling is essential for road users to safe, but some drivers may fail to indicate if there aren't any other vehicles around.Motorists must also consider pedestrians who may be looking to cross the road they wish to turn into, and signal accordingly.Driving without signalling your intentions can lead to collisions with motorists and pedestrians.And if you're spotted by police, you could be handed a £100 on-the-spot fine.But depending on the severity of the incident, you can be hit with a maximum £5,000 fine, nine points on their licence and even be disqualified from driving – especially if a pedestrian is injured because you forgot to indicate.So, although there's no specific offence for failing to signal your intentions, careless driving or dangerous driving c…

Ancient 16,000ft 'Throat of Fire' volcano in Ecuador could COLLAPSE creating deadly lava avalanche

Image
ONE of South America's most active volcanoes may be at risk of a partial collapse, according to scientists.Nicknamed the "Throat of Fire", Tungurahua volcano in Ecuador has become unstable, likely due to damage caused by the churning magma within.If it were to fall apart, the ancient mountain would could create massive landslides and avalanches of rock that travel for up to tens of miles.A single Tungurahua eruption 21 years ago led to the evacuation of 25,000 people in nearby areas.Tungurahua has been persistently active since 1999 and regularly spews plumes of lava and ash into the sky.Its name means "Throat of Fire" in the indigenous tongue of the Quechua peoples. Others call it the Black Giant.In a study published in the journal Earth & Planetary Science Letters, scientists warn that the volcano's western edge is in danger of collapse.They blame violent geological processes within the lava-belching beast for its wavering stability."Using satell…

Winter Fuel Payment: Time is running out for eligible claimants to receive payment

Image
For people born on or before 5 April 1954 they could receive what it known as a “winter fuel payment”. So long as the claimant is eligible, they could receive between £100 and £300 to help pay heating bills. The payment seems to be aimed towards the elderly, for it will be given automatically if the claimant receives state pension. It is also possible to receive the payment if a social security benefit is being received, so long as the benefit isn’t a council tax reduction, universal credit, child benefit or housing benefit. READ MOREState pension age? You could get hundreds of pounds this winterFor anyone who doesn’t currently receive the payment but feels they are eligible they should act fast. The deadline for claiming payments for winter ends on 31 March 2020.There may also be issues with receiving the money as most payments are made between November and December.The government detail that all the money should be received by 13 2020, as these dates have long since passed there may…

Lotteries keep Tabcorp's profit rising as wagering tumbles

Image
Gambling giant Tabcorp has lifted its underlying half-year profit by 2.9 per cent as growth in its lotteries business offset a sharp earnings decline in wagering.Profit excluding significant items was $213.5 million, up $6 million, in the six months to December 31, while its reported net profit – including implementation costs from its 2017 merger with Tatts, and point of consumption tax compensation – rose 10.8 per cent to $198.8 million.Earnings in Tabcorp’s wagering and media business fell 16 per cent. Credit:Dominic LorrimerGroup revenue grew 4.4 per cent to $2.9 billion, driven by a 12 per cent jump in turnover in keno and lotteries, which includes Oz Lotto and Powerball.Wagering under the TAB band and its Sky Racing media operation saw revenue tumble almost 4 per cent. Digital wagering turnover was down almost 5 per cent while turnover in its retail betting shops was down 9 per cent.Earnings before interest and tax in the lotteries and keno division grew 17 per cent to $245.8 mi…