<< Previous PostNext Post >> Posted by Wednesday, January 4, 2017 NCL extends the holidays with 500 reasons to sail TORONTO — Norwegian Cruise Line’s new offers for the new year, available through Jan. 6, now includes onboard credit of up to US$500 in addition to the Free at Sea promotion now with shore excursions credits in unlimited ports of call.When booking Free at Sea for a three-day or longer cruise in an oceanview, balcony or minisuite stateroom clients will receive $140 in onboard credits and have the choice between two free (out of five) onboard amenities, including unlimited open bar, free Specialty Dining package, $50 towards shore excursions in each port per stateroom, a free 250-minute WiFi package, or Norwegian’s Kids Sail Free offer that includes third and fourth guests of all ages sailing free on more than 350 cruise departure dates.Studio and Inside staterooms receive one free offer plus up to $50 for onboard credits. Guests who book a suite or The Haven by Norwegian will get up to $3,300 in added value including $500 in onboard credit and all five of the amenities free.More news: AMResorts has a new Sr. Dir. of Cdn. Sales & Consortia Rel’nsThe newly renovated Pride of America, starting from Honolulu and sailing year-round, includes unique Free at Sea offers with onboard credits. From now through Jan. 16, booking a new seven-day inter-island Hawaii cruise on the Pride of America in any stateroom will give guests the option for one of five offers to experience, including a free one-night pre-cruise hotel stay with the opportunity to choose a reduced airfare starting at $399 from select gateways, a free Specialty Dining Package, free pre-paid service for the first and second guest in the stateroom, free $50 per port shore excursion credit per stateroom, or Norewegian’s Kids Sail Free with the third and fourth guests sailing free on select dates. Booking a suite will allow access to all five offers. Some restrictions apply. See ncl.com. Tags: NCL, Promotions Share Travelweek Group
I have a lot of stories today…and since I’m on the road for the next few days, I’ll leave the final edit up to you, as I have other fish to fry at the moment.The American public and our markets rely upon the integrity of benchmark interest rates like LIBOR and Euribor because they form the basis for hundreds of trillions of dollars of transactions and affect nearly every corner of the global economy. – David Meister, Director of Enforcement…CFTCWell, David…it’s obvious that this integrity doesn’t extend into the precious metals market, now does it?Was yesterday’s price action in the precious metals the free market at work…or was it something less savoury? It’s your call. It was an easy call for me.Today we get the latest Commitment of Traders Report for positions held at the close of Comex trading on Tuesday. We had those big spikes in the gold and silver price during this reporting period…and it will be interesting to see whether JPMorgan et al were doing some short covering…or were they going short against all comers? There’s also a good chance that the small commercial traders…Ted Butler’s raptors…were selling their long positions into this rally. But there’s also a chance that it could have been a combination of all three. Hopefully I’ll be able to shine some light on this in tomorrow’s column.In overnight trading in the Far East…and in early London trading…the gold price was hovering just above the $1,600 spot price mark. Then at 9:50 a.m. BST the floor dropped out from under the gold and silver price…and gold is now down about ten bucks from yesterday’s close…and silver is down a bit over 30 cents. Volume is light…and the dollar index has hardly moved since it began trading in the Far East on their Friday. Here’s the gold chart as of 5:18 a.m. Eastern time…10:18 a.m. in London.I haven’t the foggiest idea what today’s price action will be like during the New York trading session…but the 9:50 a.m. drop in the gold and silver prices in London didn’t impress me, so we’ll see what ‘da boyz’ have in store for us when Comex trading begins at 8:20 a.m. Eastern time in New York.Enjoy your weekend…and I’ll see you here on Saturday. Sponsor Advertisement Pelangio Exploration Inc. (PX:TSX-V; PGXPF:OTC) announced the results of seven diamond drill holes totaling 1,574 metres from its ongoing drilling program at the Pokukrom East zone on the Manfo Property in Ghana. Highlights of the results included:· 1.19 g/t gold over 113 metres, including 9.05 g/t gold over 7 metres; · 2.60 g/t gold over 64 metres, including 11.94 g/t gold over 10 metres; and · 16.72 g/t gold over 4 metres.The results continued to confirm a higher grade, shallow north plunging core of Pokukrom East zone with an open plunge of 600 metres from near surface in previously reported hole SPDD-088 (7.01 g/t gold over 19 metres) to 210 metres depth in the holes reported this week. Warren Bates, Senior Vice President Exploration, commented: “These are our best holes on the Manfo Property to date. These holes represent the north-plunging core of higher grade mineralization at Pokukrom East, now demonstrating an open plunge length of 600 metres.” Please visit our website to learn more about the project and request additional information. Was yesterday’s price action in the precious metals the free market at work…or was it something less savoury?The gold price didn’t do a thing in Far East trading on Thursday…and nothing much happened up until noon in London, either. Then the gold price headed north with a fair amount of conviction until about 12:50 p.m. BST…7:50 a.m. Eastern time. At that point, the high tick was around the $1,625 spot mark.Then a not-for-profit seller with a very large hammer came along…and in less than an hour, had beaten the gold price down almost thirty bucks. The low came at 8:45 a.m. Eastern time…and that price was about $1,597 spot. I don’t have the precise figure, because the highs and lows posted over at Kitco were obviously wrong.From there, the gold price rallied at a pretty decent rate, but that only lasted until shortly before 11:00 a.m. Eastern time…and then got sold down into the 5:15 p.m. close.Gold finished the Thursday trading session down at $1,603.90 spot…down $12.80 on the day. Net volume [which included trading volume on July 4th] was around 155,000 contracts…not a heck of a lot.In silver, the price didn’t do much until about 3:00 p.m. Hong Kong time…and then began to rally a bit until it, too, ran into the same not-for-profit seller at the precise same time as gold. At its high, silver had just broken above $28.40 spot…but less than an hour later, it had hit its low of the day almost exactly a dollar off its high.Silver rallied 50 cents off that low, but got sold off starting just before 11:00 a.m. Eastern…again, just like gold.Silver closed back below $28 the ounce once again, at $27.70 spot…down 59 cents from Tuesday’s close. Net volume [for two trading days] was pretty light at 38,000 contracts.The dollar index gained about 40 basis points on Wednesday….and that had no effect on the gold price at all, as it traded flat. The dollar opened on Thursday morning around 82.20…and traded flat until 12:35 p.m. in London. Then the index blasted higher, reaching its zenith shortly after 10:00 a.m. in New York, although the vast majority of the gain was in by 8:30 a.m. After that it traded rule flat into the close at 82.80…up about 60 basis points on the dayIt’s interesting to note that gold and silver prices didn’t get tromped on until fifteen or twenty minutes after the dollar index went ballistic…so it appears that gold and silver prices were doing their own thing…and obviously had some help selling off as violently as they did. At least that’s the way I interpret this data.The gold stocks gapped down a bit over a percent at the open…and then rallied to their high of the day in positive territory, which came a few minutes after 11:00 a.m. Eastern time. From that high, the gold equities got sold off for the rest of the New York trading session…and the HUI closed down 1.06%.The silver stocks got beaten up pretty good, especially some of the juniors, but there were a few green arrows here and there despite that. Nick Laird’s Silver Sentiment Index closed down 1.41%.(Click on image to enlarge)Thursday was a very quiet delivery day…and the CME’s Daily Delivery Report showed that only one lonely gold contract got posted for delivery on Monday. I note in the CME’s preliminary report for yesterday’s trading activity, that there are still 1,815 silver contracts open in July.There were no changes reported in GLD…and there was a tiny withdrawal from SLV…131,064 troy ounces…which may, or may not, have been a fee payment of some type.There was a small sales report from the U.S. Mint. They sold 3,500 ounces of gold eagles…and 500 one-ounce 24K gold buffaloes.The Comex-approved depositories reported that they didn’t receive any silver on Tuesday…but they did ship a rather substantial 1,295,580 troy ounces out the door, with virtually every ounce coming out of the Scotia Mocatta warehouse. The link to that action is here.I thank Australian reader Wesley Legrand for sending me the two photos below.
One of the first things I did when I started looking after our parents’ money was move a substantial sum from their checking account to an interest-bearing account. When I asked why they had so much sitting in their checking account, they answered, “You never know. We may want to buy a new car.” For a long time, the conventional wisdom was to keep 20-35% of a retirement portfolio in cash. It was liquid in the case of an emergency and available if a terrific investment opportunity came along. And of course, cash was supposed to be safe. Today holding cash in the bank or your brokerage account is like a leaky faucet. It leaves your purchasing power going drip, drip, drip. And a bundle hidden under a mattress? Don’t even think about it! The same conventional wisdom said that a retirement portfolio should grow ahead of inflation by at least 4% annually. A retiree could withdraw 4% for income while keeping a healthy cushion of inflation protection in place. A 6% return got the job done (we’re talking about a pre-2008 universe here). To keep the math simple, let’s pretend you have a $100,000 portfolio. You’re aiming for 6% ($6,000) growth annually. You plan to live off of 4% and to leave the other 2% to compound and grow. You’re comfortable holding 30% in cash. In 2007, most savings and brokerage accounts were paying 4% or so in interest. Your cash holdings would generate $1,200 in interest annually. The remaining $70,000 would have to generate $4,800, or 6.85%, to hit your 6% goal.Enter the Leaky Faucet Today banks and brokerage firms pay somewhere in the neighborhood of 0.01% interest on cash accounts. So instead of collecting $1,200 per year on your $30,000 account, you get a measly $3. (Starbucks, here I come!) But wait! Some banks offer a really good deal. Deposit $100,000 and they will pay you $500 or thereabouts in interest. In other words, seniors and savers are penalized for holding cash. If you keep $30,000 in cash, earning $3, then your remaining $70,000 would have to earn $5,997, or 8.6%, to hit your overall 6% target. Plus, CDs and Treasuries are not particularly helpful alternatives. Right now the best rate for a 1-year CD is about 1.15%; the 1-year Treasury yield is hovering around 0.25%. That isn’t going to cut it! Most people living on fixed incomes need to update where and how they hold their cash before that leaky faucet turns into an all-out flood.From Cash to Cash-Like Holding 30% of your portfolio in safe, liquid, cash-like investments is still the prudent way to go. Retirement investors should risk as little in the market as is necessary to hit their targets. Here’s how it’s done. Instead of holding the 30% in your brokerage account, hold 30% in safe, liquid, short-term cash instruments that pay higher yields. While they might not yield close to the 6% you’d like, there are still plenty of safe options that yield substantially more than bank or brokerage cash accounts. I’m not talking about unicorns here; solid cash-like investments do exist.The Risk Trifecta There are risks, of course, to keep in mind on your hunt. The most important are: default; duration; and beta (market correlation). Let’s look at them independently. Default risk is the risk of lending money to a borrower unable to pay it all back. To earn a higher yield, you have to take on some default risk. But there are two key ways you can keep this risk to a minimum: by buying into a highly diversified, low-cost fund so that no single default would have a major impact on your nest egg; and by looking into a fund’s holdings—both the industries they’re involved in and the credit rating (quality) of the debt they hold. Let’s move on to duration, the sensitivity of a fund’s share price in relation to interest rate changes. A duration of 1 means that for a one percentage point change in interest rates, the fund’s share price is expected to rise or fall by 1% in tandem. A fund holding 10-year Treasuries with an annual rate of 2.19% and paying coupons quarterly would have a duration of 9.01, meaning that a one percentage point increase in interest rates would cause your share price to drop 9.01%, wiping out several years in interest gains. You would have to either sell the asset at a loss or hold it until maturity while earning below market interest rates. With interest rates as low as they are, you want the lowest possible duration you can find… much less than 1. Beta indicates the share price of an investment in relation to the market, commonly represented by the S&P 500 Index. Beta shows the relationship between the investment and the “market” over a certain number of years. A beta of 1 means if the market moves up or down by 1%, the share price of the asset will do the same. The lower the beta, the better. You do not want this portion of our portfolio moving in relation to the market. A beta of 0.001 is very close to zero and means that the investment moves almost independently from the market, or that it has almost no systemic risk. The ideal investment for your cash-like holdings has minimum default risk and the lowest possible duration and beta; you want it to be independent of the market and interest rate fluctuations.Do investments like this exist? Absolutely, if you are willing to look… or tap a team to look for you. In fact, a recent addition to the MoneyForever Portfolio fits the bill quite well. While my fingers are itching to type out the name right here, I can’t do that. It would be unfair to our paid subscribers. Our portfolio keeps to a 30% cash-like allocation—what we call the Stable Income category—for the same reasons our parents held cash (not just in case we want to buy a car). It gives subscribers the liquidity of cash and enough yield that we can hit our investment targets without putting the remaining 70% of the portfolio at undue risk. I’m saddened when I hear of retirees taking on too much risk because they think they have no other choice. You have options—options that any risk-averse, retirement-minded investor can take without fear of losing the farm. If you want to learn more about these options, I encourage you to take advantage of our 3-month, 100% money-back guarantee. Sign up for Money Forever for $99 per year (half-off the regular $199 rate) and download my book Retirement Reboot, and all of our special reports. You’ll gain immediate access to the entire portfolio, unique tools to help analyze investment candidates, and all of our archives. If you decide it’s not for you, cancel within 90 days and we’ll refund every last penny you paid, no questions asked. Click here to start your risk free trial now.On the Lighter Side I’d like to thank everyone who wrote in after our year-end article. Several folks mentioned that they’d sent it around to their personal mailing lists, and I certainly consider that a compliment. One gentleman from India wrote to share that in his country, the 75th birthday is considered special, and year 81 is even more significant, since hitting that milestone means you’ve lived to see 1,000 full moons. I shared his comments with several friends, and we made a pact to get together in 2021 to howl at the full moon. And finally… I’m not one to wish my life away. Each day is there to enjoy. Close friend Dennis A. sent me a cartoon that makes that point quite well. Don’t forget to follow us on Twitter @millersmoney. Until next week…
The bull market is on its last leg… As Dispatch readers know, U.S. stocks began a historic rally seven years ago. From March 2009 through December 2014, the S&P 500 soared 204%. This bull market is still “technically” alive. The popular definition says a bull market ends when an index falls 20%. Since peaking in May, the S&P 500 has dropped a maximum of 15%. Still, the rally appears to be running on fumes… • The bull market is now 84 months old… The average bull market since World War II has lasted just 52 months. Historically speaking, U.S. stocks are long overdue for a bear market. That’s just one reason to be concerned. According to the popular CAPE valuation ratio, stocks in the S&P 500 are 53% more expensive than their historic average. The S&P 500 is also coming off its third consecutive quarter of declining earnings. That hasn’t happened since 2009. According to research firm FactSet, Wall Street expects the S&P 500 to report an 8.3% decline in first-quarter earnings. The first quarter ends on March 31. • With all these warning signs, you may be wondering why U.S. stocks haven’t tanked yet… The answer is simple. Although “mom and pop” investors have been dumping stocks, U.S. corporations have been buying their own shares at a near-record pace. Bloomberg Business reported yesterday: Standard & Poor’s 500 Index constituents are poised to repurchase as much as $165 billion of stock this quarter, approaching a record reached in 2007. The buying contrasts with rampant selling by clients of mutual and exchange-traded funds, who after pulling $40 billion since January are on pace for one of the biggest quarterly withdrawals ever… Should the current pace of withdrawals from mutual funds and ETFs last through the rest of March, outflows would hit $60 billion. That implies a gap with corporate buybacks of $225 billion, the widest in data going back to 1998. Since 2009, S&P 500 companies have shelled out more than $2 trillion on share buybacks. A share buyback is when a company buys its own stock from shareholders. Buybacks reduce the number of shares that trade on the market. This can boost a company’s earnings per share, which can lead to a higher stock price. But buybacks do not actually improve the business. They just make it look better “on paper.” Buybacks are about the only thing keeping the stock market afloat. As you can see in the chart below, the S&P 500 has gone nowhere since September 2014. What you need to know about the incredible opportunity in gold, right now We recently put together a presentation revealing the single best opportunity you have to make 500%+ gains in gold over the coming years. This is one of those extremely rare chances you almost never get to make outrageous returns with even a small investment. See more, here. Two critical questions for you today: 1) Do you want to live a long, healthy life? 2) Do you care about getting rich? If you answered “yes” to one or both of those questions, please pay close attention to this urgent video message right now. Don’t skim over it. Don’t set it aside for later. Whatever you do, don’t ignore it. Here’s the rest of this urgent investment story… Recommended Links • The buyback mania helped push stock prices to record highs… But remember, individual investors are no longer buying stocks. Corporate America is the only buyer still standing. Buybacks can only prop up the market for so long… As we said earlier, corporate earnings are drying up. The last two major earnings droughts sparked huge declines in share buybacks. Bloomberg Business reports: During the last two decades, there have been two times when earnings contractions lasted longer than now. Both led companies to slash buybacks, with the peak-to-trough drop reaching an average 62 percent. • E.B. Tucker, editor of The Casey Report, thinks stocks are on the verge of a major decline… You can read E.B.’s warning from last week here. In short, E.B. thinks U.S. stocks will enter a bear market before summer. One of his favorite “big picture” tools is flashing a warning sign we haven’t seen since the financial crisis. Investors who sold their stocks when this warning appeared in 2008 avoided a 43% loss. Dispatch readers know E.B. is worth listening to. In September, he called the end of the bull market. It was a bold call. The S&P 500 had more than tripled in value over the past six years. The Dow Jones Industrial Average and NASDAQ both hit record highs only two months earlier. E.B.’s call has been spot-on so far. None of the three major U.S. indices have set new highs since July. • The U.S. stock market is incredibly fragile… We recommend setting aside cash. This will help you avoid major losses if stocks plunge. A cash reserve will also put you in position to buy stocks when they get cheaper. E.B. is waiting for that day… He plans to buy “empire assets” in The Casey Report for cheap. Empire assets is our nickname for world-class businesses that we buy and hope to own for a long time. They include companies that own valuable real estate and natural resource deposits, and companies that control things people need, like water. E.B. is watching one industry in particular… I’m waiting for once-in-a-decade prices on food stocks. You see, selling inexpensive food is a great business. Even when the economy is bad, people need to eat. Businesses that mass-produce inexpensive food are nearly recession-proof. E.B. says: When people can’t afford to eat out, they go to the grocery store more. I want to own the companies that stock the shelves…companies like cereal maker Post Holdings (POST) and B&G Foods (BGS), which sells the iconic Green Giant frozen vegetables. E.B. will let his subscribers know when it’s time to buy these consistent and trusted companies. You can get in on these opportunities by signing up for The Casey Report. Click here to begin your risk-free trial. • Owning physical gold could also save you from big losses… Gold is money. Unlike paper currencies, governments cannot destroy its value. It has held its value through every financial crisis in history. And it also tends to perform well when stocks and bonds do poorly. The price of gold is already up 17% this year. It’s off to its best start in more than 25 years, according to Financial Times. • Louis James, editor of International Speculator, has never been more bullish on gold… Louis is our resource guru. He’s been studying the gold market for more than a decade. His specialty is finding small gold miners with massive upside. As his readers know, Louis travels the world visiting mines. He studies rock samples, questions management, and looks at projects firsthand to find gold stocks with the most upside. Last week, Louis explained why this is one of the best opportunities to buy gold he’s ever seen. Today, we’re coming off the longest and most devastating gold bear market in the past 40 years. With valuations near extreme lows, small gold stocks are like coiled springs, ready to leap higher. Now is the best time I’ve seen since I started this business to position yourself for potential 10-baggers (1,000% gains). Gold stocks offer leverage to the price of gold. A 100% surge in the gold price can cause gold stocks to surge 200%…300%…400%…or more. • The last time Louis saw an opportunity like this in 2001, a key gold stock index surged 602%… The best gold stocks jumped more than 1,000%. Louis thinks we’ll see even bigger gains during this gold bull market. To help you profit off this rare opportunity, we’re offering a special deal on International Speculator. If you sign up today, we’ll knock $500 off the normal price. You’ll also receive Louis’ latest report, 9 Essential Gold Stocks to Buy Right Now. This report includes Louis’ top picks for the current gold bull market. These stocks could return 10x, 20x, or even 30x. Those gains might sound unbelievable…but they’ve happened before. Click here to learn about this incredible opportunity. Chart of the Day Corporate earnings are worse than they appear. U.S. corporations are required to report GAAP earnings per share. GAAP stands for “Generally Accepted Accounting Principles.” It’s the standard way to report earnings. A growing number of companies are also reporting “adjusted” earnings. These alternative earnings measures don’t conform to GAAP. Many companies use adjusted earnings to remove the impact of factors they consider “temporary,” like the strong dollar or a warm winter. A company’s management team decides what to include or ignore when measuring adjusted earnings. As you might guess, adjusted earnings typically look better than GAAP earnings. Last year, 20 of the 30 companies in the Dow Jones Industrial Average reported adjusted earnings. Today’s chart shows the difference in GAAP and adjusted earnings for companies in the Dow Jones Industrial Average over the past two years. In 2014, adjusted earnings were 12% better than GAAP earnings. Last year, they were 31% better. Companies claim that adjusted earnings give a more accurate picture of their business. We’re skeptical. Be cautious when investing in companies that cite strong adjusted earnings. Some companies use “adjustments” to hide weakness in their business. – Regards, Justin Spittler Delray Beach, Florida March 15, 2016 We want to hear from you. If you have a question or comment, please send it to firstname.lastname@example.org. We read every email that comes in, and we’ll publish comments, questions, and answers that we think other readers will find useful. • Borrowed money has fueled the buyback craze… Dispatch readers know the Fed has held its key interest rate near zero since 2008. It’s made it comically cheap for U.S. companies to borrow money. In 2008, a corporation with good credit (an “A” credit rating) could borrow money in the bond market at around 6.0%. Today, these companies can borrow at 3.1%. As a result, U.S. corporations have loaded up on cheap debt. The Securities Industry and Financial Markets Association reports that U.S. corporations have issued $9.7 trillion in new debt since 2008. Last year, U.S. companies issued more than $1.5 trillion in new debt, which set a new all-time high. Many companies have used this borrowed money to fund share buybacks. Reuters reported in September: Interest rates at near zero have increasingly prompted companies flush with cash to issue debt to fund share buybacks. Apple Inc., for instance, has issued $23.6 billion in debt this year despite having more than $200 billion in cash, part of its plan to buy-back up to $140 billion in shares by the end of March 2017. MetLife Inc., meanwhile, sold $1.5 billion in bonds in June to fund share buybacks, while having more than $10 billion in cash on its balance sheet. —
Recommended Link Click here to read more Longer Replacement CycleAs I mentioned above, recent smartphone innovations have been a bit of a disappointment.And it shows in the numbers:In 2007, when the very first iPhone was released, consumers were replacing their mobile phones just about every year and a half (19 months) on average.From 2007-2014, this replacement cycle remained under the two-year mark. Last year, the cycle was at its longest ever – 32 months.So why are consumers holding onto their smartphones longer? Simple: The newer models aren’t innovative enough to compel consumers to run out and buy them. The new phones just don’t do much more than the old ones.And smartphones are expensive, after all.We’ve been waiting for something big… and that something is now here: At MWC, we got our first look at 5G-enabled mobile phones.Huawei, Samsung, LG, and Chinese mobile phone producer Xiaomi all previewed smartphones that were able to operate over 5G networks.The Huawei Mate X and Samsung Galaxy Fold phones even have screens that fold, so the mobile devices can essentially transform from smartphones to tablets.Why do I believe billions of consumers will rush out to purchase 5G-enabled phones?Well, aside from being able to use next-generation applications like augmented/mixed reality, there’s one simple reason… Today’s networks are jam-packed.Congested NetworksHave you ever tried calling somebody, but the line kept dropping unexpectedly?How about trying to send a text message, but it repeatedly fails to go through?Or how about when you try to open a web page on your smartphone, but the page simply won’t load?These sorts of problems are almost always caused by network congestion. Just like how you experience traffic congestion on a busy road, mobile networks experience congestion when too much data is traveling over the network.The chart below shows you all you need to know:You can see how voice traffic has remained flat over the years. But look at the levels of data operating over our current networks. As of Q4 2018, monthly mobile data traffic averaged 25 exabytes per month.What’s an exabyte? One exabyte is equivalent to 100,000 times all printed material in the Library of Congress. I know… It’s hard for us to get our heads around how much information that is.And the number of exabytes is only growing…The Q4 2018 figure is 88% higher from where it was in Q4 2017. Data traffic nearly doubled in a year. And it’s only going higher from here.Our current 4G networks simply aren’t able to process that much data efficiently. And that’s where 5G comes in.For a full recap of 5G, you can go right here. But for now, just know that on average, 5G will be 100 times faster than our current 4G networks.With that kind of speed, dropped calls and slow-loading web pages will be a thing of the past. You could download a two-hour movie in seconds. 5G isn’t just evolutionary – it’s revolutionary.That’s why consumers will rush out to buy new 5G phones. Holding on to 4G phones will soon be akin to having dial-up modems in an age of high-speed internet.And I believe this spells trouble for one of the world’s most recognizable companies: Apple. — Click here now to decide for yourself — Apple Stumbles on 5GApple’s iPhone is one of the most recognizable consumer products in history. I’d bet that many of you reading this have an iPhone in your pocket.But Apple has made a grave mistake when it comes to 5G…Apple’s newest family of iPhones – expected to launch by the end of this year – will not be 5G-enabled.And according to a research note from Barclays, Apple might not even have 5G phones by 2020. That means that we wouldn’t see the first 5G iPhone until 2021.Apple has always been a late adopter. It waits until it can pretty much ensure a consistent experience across all phones before launching a feature.But there will likely be more than 100 markets around the U.S. with 5G networks by the end of this year. And those smartphone users aren’t going to wait around until late 2020 (or even later, if the Barclays report is right) to get 5G phones.That’s a problem for Apple… iPhone sales contributed to 60% of its revenues in Q4 2018. The bottom line: The company will struggle this year and possibly next year. It will lose market share to other mobile phone companies that offer 5G devices.That may be hard to believe. After all, Apple is a behemoth of the tech world. Last August, it became the first publicly traded company to hit $1 trillion in market capitalization.The market cap is now down 24% from its all-time high of $1.1 trillion. You may think that makes it a great bargain. But as I’ve shown you, there’s more pain ahead for Apple.Of course, it’s up to you which stocks you decide to buy.But let’s just put it this way: I won’t be recommending Apple to my readers anytime soon.Regards,Jeff Brown Editor, Exponential Tech InvestorP.S. 5G will be the biggest investing theme of the next decade. And Apple has dropped the ball…But plenty of other tech companies are rushing full speed ahead with 5G. One of my favorites is poised to soar 10x as 5G picks up. And you won’t have to wait years and years to start making money. 5G is happening right now.The best stocks will start climbing in a matter of months – and 99% of investors will miss it. Don’t be one of them. Get the full story here.Reader MailbagCasey Research founder Doug Casey and Strategic Trader editor E.B. Tucker’s interview on the climate change hoax brought in the most feedback to date… (Make sure to catch up here and here.)Below, a subscriber responds to fellow reader Betty’s comment…Betty asked, “What if global warming is real? Shouldn’t we be doing all we can to combat it, just in case?” My response would be that as individuals we should try to not be wasteful, but we SHOULD try to raise the living standards for everyone. Poor people don’t have time or interest in environmental concerns. That only comes with some level of prosperity.But what we absolutely should NOT do is give more control to the corrupt elite who flew over 1700 private jets into Davos a few years ago to discuss what restrictions they should impose on the rest of the world in the name of global warming. For you can be sure that they would not apply those restrictions to themselves but would delight in imposing draconian restrictions on the rest of us.For the elite, global warming is an excuse to claim even more power over the rest of us. Whether it’s really happening or not is incidental to them.– GordonAnd another reader asks climate change questions…If climate change is so real, why did the man who fathered it change his position? If it’s his baby, it would take a lot of extra facts to change. Why did they tell us in the ’70s that an ice age was coming? Why are there parts of the world that are actually adding ice? Why did one of my friends who lived in Alaska tell me they found woolly mammoths and they would feed the meat to their dogs?Wouldn’t that mean it was once warm there? Best wishes.– JamesAnd yet another disputes Doug and E.B.’s stance…Climate change is indisputable to anyone with any ability to think for themselves. Some of you have been brainwashed by some of these moronic opinions. Too much Fox News and Doug Casey.I do believe that we are all in trouble because of the worldwide debt problem with no reasonable solution. Practically every country and many individuals owe money that they can never repay. Just don’t know which problem will get us first; debt or climate change. Either way we are headed for a disaster. The only question is, “When?”– RonGet in on our climate change debate at email@example.com. [Why They Hate Him] Controversial Millionaire’s Brutally Honest Money SecretYou know America is at a tipping point… You hear the left screaming for 70% tax rates and wonder, “where will my money go?” If you feel ignored… If you feel blamed for using “common sense”… There is one man we can turn to. If you’re a strong-minded individual, hear his point of view. Then, decide for yourself if you feel that you are truly prepared for what is happening in America today. Trump’s New SOCIALIST POLICY? Take Action by March 15th!Trump’s latest move is either extreme charity for the American people… Or extreme entitlements for free-loaders… Maybe he’s appealing to the left’s sentiments for reelection… Because redistributing $5 trillion of wealth doesn’t seem very Trump-like. Still, most Americans are NOT complaining. What about you? Justin’s note: Casey Research friend Jeff Brown is the editor of Exponential Tech Investor… and one of the best tech analysts I know. He has an inside track on the biggest technology investing trends – and it shows.His track record includes successfully spotting the best-performing S&P 500 stocks of 2016 and 2018. In other words, when Jeff writes… it’s profitable to pay attention.Today, Jeff gives readers a sneak peek of the smartphones of tomorrow… and reveals why it spells trouble for Apple and its iconic iPhone.By Jeff Brown, editor, Exponential Tech InvestorLast month, the GSMA Mobile World Congress was held in Barcelona.Mobile World Congress (MWC) is one of the biggest technology events of the year… It’s where companies gather to showcase their latest and greatest products. The notable exception is Apple, which always hosts its own product reveal events.The mobile phones showcased there typically go up for sale later in the year.In recent years, MWC has been something of a letdown. As my regular readers know, recent smartphone innovations have been disappointing.There’s been a bit more memory, a faster processor, and better-quality resolution in the cameras, but nothing revolutionary.But that all changed last month…We got our first glimpse of what will be the future of mobile devices. And I believe it spells big trouble for one of the most iconic devices in history: Apple’s iPhone. Recommended Link
The only list that measures privately-held company performance across multiple dimensions—not just revenue. hb00:0000:00omi Stay in the know in 60 seconds. Amazon Delivers to Parked Cars and Thinking Positive Leads to Good Memories. 3 Things to Know Today. 3 Things To Know 2019 Entrepreneur 360 List Next Article First it was access to your house, now it’s your car: Amazon has announced that it will begin leaving packages in Prime members’ trunks and back seats, starting today. If you have Prime and a car with the right tech, you soon may not need to wait until you get home to get your next delivery.Got a big presentation or launch coming up? Think positive! Researchers at Harvard University have found that just imagining a favorable outcome will result in more pleasant memories of the event once it’s over, regardless of what actually happens.Several major public companies are announcing earnings for the first quarter of the year today, and many of them beat forecasts, including Google parent Alphabet and Coca-Cola. Watch the last 3 Things to Know video: How Does How You Look Affect Your Pay? April 24, 2018 1 min read Lydia Belanger 42shares Add to Queue Apply Now »
Mastercard Is Expanding Its ‘Selfie Pay’ Capabilities Public figures like President Barack Obama may be tired of the selfie, but Mastercard on Monday proved that as a security measure selfies are here to say.The credit card company first tested its facial recognition capabilities in August in the United States in October. When making a purchase online from a merchant that requires identity verification, cardholders can authorize the transaction by holding up their phones as if taking a selfie and blinking — which ensure the cardholder is a live person, not just a photograph — instead of inputting a password or PIN.Mastercard said on Monday that it’s expanding that technology to 14 countries this summer — including the U.K., according to the Financial Times.Selfie pay is intended to ease the process of verifying transactions as consumers make more purchases online and on mobile devices. Plus, it’s thought to be more secure that just punching in a password or PIN.One big motivation behind Mastercard’s expansion of its selfie pay tool is cutting down false declines, which occur when a legitimate transaction is rejected because of suspected fraud. These instances cost the company some $118 billion per year — 13 times more than the cost of actual fraud.Mastercard’s announcement comes just a few days after HSBC said it was upping its security measures by introducing so-called biometic banking options like voice recognition and touch identification to replace traditional passwords. Barclays introduced voice recognition to its private banking division in 2013, and Apple Pay allows customers to okay a purchase on a stored credit card with a fingerprint, too.When it comes to facial recognition, USAA, which serves U.S. military members and their families, started offering selfies as logins last year and Chinese ecommerce giant Alibaba said in March that it’s working on facial recognition software that would let customers pay for purchases just by looking at a screen.Even as it expands its selfie pay, Mastercard is developing an even more intimate way for customers to verify their identity: with their heartbeats. 2 min read Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Add to Queue Next Article Claire Zillman Register Now » Image credit: Shutterstock.com February 24, 2016 Payments –shares Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals This story originally appeared on Fortune Magazine
Think Before the Ad using Customer Data Phil AhadMay 13, 2019, 10:02 pmMay 13, 2019 This guest post reveals how to capitalize on Customer Data, Campaign data and research to make informed marketing decisions.Marketers wear many hats. Especially in today’s data-driven marketplace, they’re tasked with their fundamental duties as well as being customer experience experts and acute data analysts. The expectations are extraordinary, but they’re evolving because of the increasingly complex ways marketers are expected to bring in new customers. Currently, staying on top of your game to produce actionable results means using granular data insights to lay the groundwork to produce game-changing ad experiences. Every ad campaign that executes its goals to capture audiences must include a data-focused approach.Distilling customer data and behind the scenes research simply better-informs the decision-making process. In fact, research is the first step to understanding your audience, concepts, and using development to refine them all towards your campaign goals.Recommended: IAB Podcast Measurement Compliance Certifies Voxnest Audience NetworkCountless types of ads haven’t worked out for various common-sense reasons, but more often than not the main factor behind campaign failure lies in the lack of research to power that ad campaign. The research is really intended to be the “why” behind the “what.” It’s designed to better understand your campaigns and understand who your target audience is.If the brand or the company is developing advertisements to essentially drive purchases or awareness, the campaign requires some type of an objective. This is where you want to define the audience perspective — be it core buyers or a segment to convert. You do that by zeroing in on three very simple ad-focused questions. Can You See It?When you have an ad concept you want it to be visible and have the ability to cut-through the current market standards. It won’t stand out if it’s one-of-many, but it has a better shot at breaking through if you can determine where to place it in the right context to provide the greatest impact. Do You Like It?While you might see an ad, if you don’t like it or it’s not resonating with you or it’s not hitting on the points you think are important, it’s not going to ignite a beneficial customer behavior. Do You Understand It?You need the ad to compute. On a gut level, you need to just get what you’re purchasing, and in broader marketer-speak a successful ad projects a clear value proposition.Any good research project is not research for the sake of research, it’s coupled with additional crucial context. You might have a good sense of who those people are, and it might point to specific types of buyers by going a step further to identify shared attributes those people have.Whereas plain data is very transactional, and you’re looking at a point in time to pinpoint what actual purchase might look like, the research is dynamic and can actually evolve based on the needs of the product life cycle. Further insights include who could be exposed to your ad, and in many cases who would engage with that ad. That way you can develop meaningful buyer segments and understand the full scope of who the people are that would buy certain products.This initial research allows marketers to glean initial insights to get in the minds of consumers via swift and informative feedback. Whether it’s a straightforward negative reaction or that the message that doesn’t hit properly, it’s fairly obvious when you see these reactions in targeted markets that there wasn’t any type of pretesting time.Read Also: Arcane’s Secret Weapon, Morphio, Now Available for MarketersIn the pre-tested advertising campaigns, ideas that are not effective or can have a negative brand impact are rooted out before you’re in next stages and it’s too late to rethink your strategy.There’s always a cyclical approach to campaign development. Ongoing steps might mean that the campaign continues because it’s so effective, the campaign is refined to add or subtract components, or there are different subgroups that you want to target. Whether you’re in the early stages of launching a product or the later stages of understanding how that product has been adopted — research supports all the different decisions that happen along the product life cycle.With data and research analysis capabilities available to organizations via informative tools now more than than ever before, using data-backed research in today’s digital world must be an industry standard.Recommended: Glassbox Distances Competitors by Patenting Its Technology for Recording Web Sessions Advertisinganalyticsaudience datacustomer dataMarketing Previous ArticleLionbridge Layers AI-Powered Services onto Adobe OfferingsNext ArticleMagic Software Acquires PowWow Creator of SmartUX, A leading Low-Code Development Platform for Mobilizing and Modernizing Enterprise Apps
Reviewed by James Ives, M.Psych. (Editor)Nov 8 2018Researchers from the Collaborative Research Center CROSSING at Technische Universität Darmstadt (Germany) have developed a solution that will ensure decades of safe storage for sensitive health data in a joint project with Japanese and Canadian partners. An initial prototype was presented during a recent conference in Beijing, China. The system will go into trial operation in Japan in the coming weeks.The introduction of an electronic patient record system has been discussed in Germany and internationally for quite some time. However, development is often thwarted by concerns regarding data security. Health data in particular – which due to the progress of modern medicine contains genome information more frequently than ever before – must be securely stored for a lifetime and or even multiple generations.A major challenge are the technological developments that will occur over this extended time period, as these have an enormous impact on the security of existing cryptographic schemes. “All encryption methods used today will become insecure over the course of the next few years and decades”, explains Professor Johannes Buchmann, spokesperson for the Collaborative Research Center CROSSING. “The attackers’ computing power will increase and their attacks will improve. Therefore we can assume that all encrypted data will be compromised in 20 years if not sooner.”Buchmann and his team have been working to prevent this since 2015, in cooperation with Japanese research institute NICT (National Institute of Information and Communications Technology). Together they collaborate on the project “LINCOS – Long-Term Integrity and Confidentiality Protection System”. In 2017, the Japanese hospital operator Kochi Health Science Center and the Canadian company ISARA joined the project. The LINCOS system is the first to combine information theoretic confidentiality protection with renewable integrity protection. This means that no matter what computing capacity and algorithms are available in the future, noone shall be able to access or modify the protected data.Related StoriesRaw meat can act as reservoir for bacteria associated with hospital infectionsTAU’s new Translational Medical Research Center acquires MILabs’ VECTor PET/SPECT/CTBordeaux University Hospital uses 3D printing to improve kidney tumor removal surgeryThe guarantee of long-term confidentiality is achieved through a technology called “secret sharing”. The original data set is distributed among several servers in such a way that the individual parts are meaningless. Only when a sufficient number of parts – known as “shares” – are combined, the original data set of the patient file can be reconstructed. If one of the servers is compromised, the captured share is of no use to the attacker. In addition, the distribution is renewed regularly. The integrity, i.e. ensuring that data have not been changed, is achieved by quantum computer-resistant signatures. But even if the scheme utilised is classified as uncertain in the longterm, the researchers have taken precautions: The signature schemes are exchanged regularly. Integrity protection is thereby seamlessly ensured.The Canadian company ISARA, the industrial partner of the project, protects the data during transfer between the hospital and the server operators with quantum computer-resistant encryption. This is the third component of the LINCOS system. In the future, the researchers want to add yet another level of security that they have already realised in prototype with the Japanese team: quantum key exchange. This procedure guarantees sustainable secure keys, since it is impossible for an attacker to intercept the key exchange. The scientists at Collaborative Research Center CROSSING are even working on this research topic in their own quantum laboratory at TU Darmstadt.”The sustainable protection of electronic health records is only one example of areas where sustainable security is urgently needed. In our digitised world, we produce an unimaginable amount of sensitive data every day, which must remain confidential and unchanged over a long period of time, for instance in the implementation of Industry 4.0 which is crucial to Germany as an industrial nation. Policymakers are called upon to ensure the guaranteed long-term protection of our data”, appeals Buchmann. Source:https://www.tu-darmstadt.de/
In patients with NMOSD, the body’s immune system mistakenly attacks healthy cells and proteins in the body, most often in the optic nerves and spinal cord. Individuals with NMOSD typically have attacks of optic neuritis, which causes eye pain and vision loss. Individuals also can have attacks resulting in transverse myelitis, which often causes numbness, weakness, or paralysis of the arms and legs, along with loss of bladder and bowel control. Most attacks occur in clusters, days to months to years apart, followed by partial recovery during periods of remission. Approximately 50% of patients with NMOSD have permanent visual impairment and paralysis caused by NMOSD attacks. According to the National Institutes of Health, women are more often affected by NMOSD than men and African Americans are at greater risk of the disease than Caucasians. Estimates vary, but NMOSD is thought to impact approximately 4,000 to 8,000 patients in the United States.NMOSD can be associated with antibodies that bind to a protein called aquaporin-4 (AQP4). Binding of the anti-AQP4 antibody appears to activate other components of the immune system, causing inflammation and damage to the central nervous system.The effectiveness of Soliris for the treatment of NMOSD was demonstrated in a clinical study of 143 patients with NMOSD who had antibodies against AQP4 (anti-AQP4 positive) who were randomized to receive either Soliris treatment or placebo. Compared to treatment with placebo, the study showed that treatment with Soliris reduced the number of NMOSD relapses by 94 percent over the 48-week course of the trial. Soliris also reduced the need for hospitalizations and the need for treatment of acute attacks with corticosteroids and plasma exchange.Related StoriesStudy shows potential culprit behind LupusNew insights into molecular motors could help treat neurological disordersWhat happens when you eliminate sugar and adopt the keto diet?Soliris has a boxed warning to alert health care professionals and patients that life-threatening and fatal meningococcal infections have occurred in patients treated with Soliris, and that such infections may become rapidly life-threatening or fatal if not recognized and treated early. Patients should be monitored for early signs of meningococcal infections and evaluated immediately if infection is suspected. Use should be discontinued in patients who are being treated for serious meningococcal infections. Health care professionals should use caution when administering Soliris to patients with any other infection. In the NMOSD clinical trial, no cases of meningococcal infection were observed.Soliris is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS). Prescribers must enroll in the REMS program. Prescribers must counsel patients about the risk of meningococcal infection, provide the patients with the REMS educational materials and ensure patients are vaccinated with meningococcal vaccine(s). The drug must be dispensed with the FDA-approved patient Medication Guide that provides important information about the drug’s uses and risks.The most frequently reported adverse reactions reported by patients in the NMOSD clinical trial were: upper respiratory infection, common cold (nasopharyngitis), diarrhea, back pain, dizziness, influenza, joint pain (arthralgia), sore throat (pharyngitis) and contusion.The FDA granted the approval of Soliris to Alexion Pharmaceuticals.Soliris was first approved by the FDA in 2007. The drug is approved to reduce destruction of red blood cells in adults with a rare blood disease called paroxysmal nocturnal hemoglobinuria, for the treatment of adults and children with a rare disease that causes abnormal blood clots to form in small blood vessels in the kidneys (atypical hemolytic uremic syndrome to inhibit complement-mediated thrombotic microangiopathy), and for the treatment of adults with Myasthenia Gravis who are anti-acetylcholine receptor antibody positive.The FDA granted this application Priority Review. The use for NMOSD received Orphan Drug designation, which provides incentives to assist and encourage the development of drugs for rare diseases. Source:U.S. Food and Drug Administration Soliris provides the first FDA-approved treatment for neuromyelitis optica spectrum disorder, a debilitating disease that profoundly impacts patients’ lives. This approval changes the landscape of therapy for patients with NMOSD. Having an approved therapy for this condition is the culmination of extensive work we have engaged in with drug companies to expedite the development and approval of safe and effective treatments for patients with NMOSD, and we remain committed to these efforts for other rare diseases.”Billy Dunn, M.D., director of the Division of Neurology Products in the FDA’s Center for Drug Evaluation and Research Reviewed by Alina Shrourou, B.Sc. (Editor)Jun 27 2019The U.S. Food and Drug Administration today approved Soliris (eculizumab) injection for intravenous use for the treatment of neuromyelitis optica spectrum disorder (NMOSD) in adult patients who are anti-aquaporin-4 (AQP4) antibody positive. NMOSD is an autoimmune disease of the central nervous system that mainly affects the optic nerves and spinal cord.
Fake news production and social media ‘trolls’ A new online game puts players in the shoes of an aspiring propagandist to give the public a taste of the techniques and motivations behind the spread of disinformation—potentially “inoculating” them against the influence of so-called fake news in the process. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Roozenbeek points out that some efforts to combat fake news are seen as ideologically charged. “The framework of our game allows players to lean towards the left or right of the political spectrum. It’s the experience of misleading through news that counts,” he says.The pilot study in the Netherlands using a paper version of the game involved 95 students with an average age of 16, randomly divided into treatment and control.This version of the game focused on the refugee crisis, and all participants were randomly presented with fabricated news articles on the topic at the end of the experiment.The treatment group were assigned roles—alarmist, denier, conspiracy theorist or clickbait monger—and tasked with distorting a government fact sheet on asylum seekers using a set of cards outlining common propaganda tactics consistent with their role.They found fake news to be significantly less reliable than the control group, who had not produced their own fake article. Researchers describe the results of this small study as limited but promising. The study has been accepted for publication in the Journal of Risk Research.The team are aiming to take their “fake news vaccine” trials to the next level with today’s launch of the online game.With content written mostly by the Cambridge researchers along with Ruurd Oosterwoud, founder of DROG, the game only takes a few minutes to complete. The hope is that players will then share it to help create a large anonymous dataset of journeys through the game.The researchers can then use this data to refine techniques for increasing media literacy and fake news resilience in a ‘post-truth’ world. “We try to let players experience what it is like to create a filter bubble so they are more likely to realize they may be living in one,” adds van der Linden. Citation: Fake news ‘vaccine’: Online game may ‘inoculate’ by simulating propaganda tactics (2018, February 19) retrieved 18 July 2019 from https://phys.org/news/2018-02-fake-news-vaccine-online-game.html Screenshot of the English version of the Fake News Game, available to play at fakenewsgame.org. Credit: DROG The Fake News Game simulates propaganda tactics such as impersonation, and awards badges once a round is completed. Credit: DROG/fakenewsgame.org Researchers at the University of Cambridge have already shown that briefly exposing people to tactics used by fake news producers can act as a “psychological vaccine” against bogus anti-science campaigns.While the previous study focused on disinformation about climate science, the new online game is an experiment in providing “general immunity” against the wide range of fake news that has infected public debate.The game encourages players to stoke anger, mistrust and fear in the public by manipulating digital news and social media within the simulation.Players build audiences for their fake news sites by publishing polarizing falsehoods, deploying twitter bots, photo-shopping evidence, and inciting conspiracy theories in the wake of public tragedy—all while maintaining a “credibility score” to remain as persuasive as possible.A pilot study conducted with teenagers in a Dutch high school used an early paper-and-pen trial of the game, and showed the perceived “reliability” of fake news to be diminished in those that played compared to a control group.The research and education project, a collaboration between Cambridge researchers and Dutch media collective DROG, is launching an English version of the game online today at http://www.fakenewsgame.org. Explore further The Fake News Game as it appears on the screen of a smart phone. The game only take a few minutes to complete. Credit: DROG/fakenewsgame.org The psychological theory behind the research is called “inoculation”:”A biological vaccine administers a small dose of the disease to build immunity. Similarly, inoculation theory suggests that exposure to a weak or demystified version of an argument makes it easier to refute when confronted with more persuasive claims,” says Dr. Sander van der Linden, Director of Cambridge University’s Social Decision-Making Lab.”If you know what it is like to walk in the shoes of someone who is actively trying to deceive you, it should increase your ability to spot and resist the techniques of deceit. We want to help grow ‘mental antibodies’ that can provide some immunity against the rapid spread of misinformation.” Provided by University of Cambridge Based in part on existing studies of online disinformation, and taking cues from actual conspiracy theories about organisations such as the United Nations, the game is set to be translated for countries such as Ukraine, where disinformation casts a heavy shadow.There are also plans to adapt the framework of the game for anti-radicalisation purposes, as many of the same manipulation techniques—using false information to provoke intense emotions, for example—are commonly deployed by recruiters for religious extremist groups.”You don’t have to be a master spin doctor to create effective disinformation. Anyone can start a site and artificially amplify it through twitter bots, for example. But recognising and resisting fake news doesn’t require a Ph.D. in media studies either,” says Jon Roozenbeek, a researcher from Cambridge’s Department of Slavonic Studies and one of the game’s designers.”We aren’t trying to drastically change behavior, but instead trigger a simple thought process to help foster critical and informed news consumption.”
Facebook unveils Quest, its new virtual-reality headset Facebook on Wednesday unveiled an upgraded Oculus virtual reality headset with power to handle the intensive graphics of digital worlds in a wire-free experience. Citation: Facebook unveils upgraded wireless Oculus headset in VR push (2018, September 27) retrieved 17 July 2019 from https://phys.org/news/2018-09-facebook-unveils-wireless-oculus-headset.html Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. © 2018 AFP The new Oculus Quest headset showcased at the Facebook unit’s developer conference is being aimed at gamers seeking immersion in virtual worlds, with other potential applications likely in the future.”This is the wireless virtual reality experience we have been waiting for,” Facebook chief executive Mark Zuckerberg said as he unveiled the new hardware and reaffirmed Facebook’s commitment to virtual reality. The standalone VR headset boasting the same quality experiences as the Oculus Rift but without wires will hit the market early next year at a price of $399.Oculus vice president Hugo Barra said Quest combined the capabilities of Rift and the portability of Go, the current headgear in the company’s lineup, with a strong focus on games.Rift was the first VR gear released by Facebook-owned Oculus, but needs to be plugged into computers powerful enough to handle the graphics rich, immersive nature of digital worlds.Go is a lightweight portable headset for virtual reality.Step into ‘Star Wars’Oculus promised 50 game titles available at launch, including “Vader Immortal,” which will let Quest users play through the opening episode of a new virtual reality experience set in a castle of infamous “Star Wars” villain Darth Vader.The “Star Wars” virtual reality experience was described as a combination game and immersive film.In a self-deprecating moment on stage, Zuckerberg recalled setting a goal of getting a billion people into virtual reality after buying Oculus some four years ago in a deal valued then at $2 billion.He chuckled along with the audience as he shared a graph showing they were a scant one percent of the way to that goal.”This isn’t a question of whether we are going to get there, it is how,” Zuckerberg said, while acknowledging the path may be longer than first expected.He said a speed bump on the road to adoption that Quest was intended to solve was making VR more convenient and portable.A second challenge, he said, was creating a vast, enticing ecosystem of games, films, meeting spaces and other experiences in virtual reality.The two-day Connect conference was intended to inspire software makers to help create that ecosystem.”We are going to make some big leaps in both technology and content,” Zuckerberg told the gathering.”This is all still early, but this is the basic road map.”Virtual visitsAnshel Sag, analyst at Moor Insights & Strategy, said the Quest could make it easier to get into virtual reality gaming at a reasonable price.”I think this brings console quality gaming and experiences to a price point that previously wasn’t possible,” Sag said.”It makes it easier to get into virtual reality without spending a lot of money.”Despite technology advances in recent years, virtual reality gear remains the stuff of early-adopters like video game lovers and hasn’t gone mainstream with consumers.Facebook’s vision of virtual reality goes far beyond games to a time when members of the leading online social network can virtually visit one another with the help of avatars.”There is simply no substitute for being there,” vice president of augmented and virtual reality Andrew Bosworth told the gathering.”Tools we are building in AR and VR have the opportunity to answer the question of what it would be like to be transported.” Facebook, which last year unveiled its wireless virtual reality headset Oculus Go, on Wednesday announced a more powerful wire-free device called Oculus Connect
UK fines Facebook over data privacy scandal, EU seeks audit Britain’s Information Commissioner Office leveled the fine after concluding Facebook processed the personal information of users unfairly by giving app developers access to their information without informed consent.The ICO said a subset of the data was later shared with other organizations, including SCL Group, the parent company of political consultancy Cambridge Analytica, which counted U.S. President Donald Trump’s 2016 election campaign among its clients.The ICO did not definitively assert that U.K. users had their data shared for campaigning, but said the information was harvested and “put at risk of further misuse.”Though the fine is minuscule by the standards of the tech giant’s revenues, the firm appealed because of what it saw as an unacceptable precedent outlined by the decision.”Their reasoning challenges some of the basic principles of how people should be allowed to share information online, with implications which go far beyond just Facebook, which is why we have chosen to appeal,” said Facebook lawyer Anna Benckert in a statement. “For example, under ICO’s theory people should not be allowed to forward an email or message without having agreement from each person on the original thread. These are things done by millions of people every day on services across the internet.”The ICO was not immediately available for comment. Explore further © 2018 The Associated Press. All rights reserved. Facebook has appealed its 500,000-pound ($644,000) fine for failing to protect the privacy of its users in the Cambridge Analytica scandal, arguing that U.K regulators failed to prove that British users were directly affected. Citation: Facebook appeals its UK fine in Cambridge Analytica scandal (2018, November 21) retrieved 17 July 2019 from https://phys.org/news/2018-11-facebook-appeals-uk-fine-cambridge.html This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Explore further A face tracking and analysis system takes a look at a woman’s face. Credit: Abyssus/Wikimedia Commons, CC BY-SA Artificial intelligence systems can – if properly used – help make government more effective and responsive, improving the lives of citizens. Improperly used, however, the dystopian visions of George Orwell’s “1984” become more realistic. Instead, computer scientists and government employees collaborated to analyze a wide range of data about each of 55,000 properties in the city, including how old the home was, to calculate the likelihood it was served by lead pipes. Before the system was used, 80% of the pipes dug up needed to be replaced, which meant 20% of the time, money and effort was being wasted on pipes that didn’t need replacing.The AI system helped engineers focus on high-risk properties, identifying a set of properties most likely to need pipe replacements. When city inspectors visited to verify the situation, the algorithm was right 70% of the time. That promised to save enormous amounts of money and speed up the pipe replacement process.However, local politics got in the way. Many members of the public didn’t understand why the system was identifying the homes it did, and objected, saying the AI method was unfairly ignoring their homes. After city officials stopped using the algorithm, only 15% of the pipes dug up were lead. That made the replacement project slower and more costly.Distressing examplesThe problem in Flint was that people didn’t understand that AI technology was being used well, and that people were verifying its findings with independent inspections. In part, this was because they didn’t trust AI – and in some cases there is good reason for that. In 2017, I was among a group of more than four dozen AI researchers who sent a letter to the acting secretary of the U.S. Department of Homeland Security. We expressed concerns about a proposal to use automated systems to determine whether a person seeking asylum in the U.S. would become a “positively contributing member of society” or was more likely to be a terrorist threat.”Simply put,” our letter said, “no computational methods can provide reliable or objective assessments of the traits that [DHS] seeks to measure.” We explained that machine learning is susceptible to a problem called “data skew,” in which the system’s ability to predict a characteristic depends in part on how common that characteristic is in the data used to train the system. So in a database of 300 million Americans, if one in 100 people are, say, of Indian descent, the system will be fairly accurate at identifying them. But if looking at a characteristic shared by just one in a million Americans, there really isn’t enough data for the algorithm to make a good analysis.As the letter explained, “on the scale of the American population and immigration rates, criminal acts are relatively rare, and terrorist acts are extremely rare.” Algorithmic analysis is extremely unlikely to identify potential terrorists. Fortunately, our arguments proved convincing. In May 2018, DHS announced it would not use a machine learning algorithm in this way.Other worrying effortsOther government uses of AI are being questioned, too – such as attempts at “predictive policing,” setting bail amounts and criminal sentences and hiring government workers. All of these have been shown to be susceptible to technical issues and data limitations that can bias their decisions based on race, gender or cultural background.Other AI technologies such as facial recognition, automated surveillance and mass data collection are raising real concerns about security, privacy, fairness and accuracy in a democratic society.As Trump’s executive order demonstrates, there is significant interest in harnessing AI for its fullest positive potential. But the significant dangers of abuse, misuse and bias – whether intentional or not – have the potential to work against the very principles international democracies have been built upon. As the use of AI technologies grows, whether originally well-meant or deliberately authoritarian, the potential for abuse increases as well. With no currently existing government-wide oversight in place in the U.S., the best way to avoid these abuses is teaching the public about the appropriate uses of AI by way of conversation between scientists, concerned citizens and public administrators to help determine when and where it is inappropriate to deploy these powerful new tools. On their own and urged by a new presidential executive order, governments across the U.S., including state and federal agencies, are exploring ways to use AI technologies. As an AI researcher for more than 40 years, who has been a consultant or participant in many government projects, I believe it’s worth noting that sometimes they’ve done it well – and other times not quite so well. The potential harms and benefits are significant.An early successIn 2015, the U.S. Department of Homeland Security developed an AI system called “Emma,” a chatbot that can answer questions posed to it in regular English, without needing to know what “her” introductory website calls “government speak” – all the official terms and acronyms used in agency documents. By late 2016, DHS reported that Emma was already helping to answer nearly a half-million questions per month, allowing DHS to handle many more inquiries than it had previously, and letting human employees spend more time helping people with more complicated queries that are beyond Emma’s abilities. This sort of conversation-automating artificial intelligence has now been used by other government agencies, in cities and countries around the world.Flint’s waterA more complicated example of how governments could aptly apply AI can be seen in Flint, Michigan. As the local and state governments struggled to combat lead contamination in the city’s drinking water, it became clear that they would need to replace the city’s remaining lead water pipes. However, the city’s records were incomplete, and it was going to be extremely expensive to dig up all the city’s pipes to see if they were lead or copper. Citation: As governments adopt artificial intelligence, there’s little oversight and lots of danger (2019, April 18) retrieved 17 July 2019 from https://phys.org/news/2019-04-artificial-intelligence-oversight-lots-danger.html Provided by The Conversation This article is republished from The Conversation under a Creative Commons license. Read the original article. Making lead pipes safe This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
Petrol, CNG pumps in Delhi to remain shut on Monday SHARE diesel fuel Petrol, diesel prices cut by 21 and 11 paise petrol Petrol pump owners protest as cars make a beeline for neighbouring States Public transport was thrown out of gear in Delhi on Monday as petrol pump dealers and bus and taxi drivers went on a strike, protesting against the high VAT on fuel.Nearly 400 fuel retail outlets were shut in the capital, hitting car owners and commuters hard.The VAT on petrol and diesel in Delhi is ₹17.31 and ₹11 a litre respectively. Due to the higher local levies here, petrol is cheaper in neighbouring Uttar Pradesh by ₹2.50 a litre and in Haryana by ₹1.30 a litre.Sales drop“We have asked the Delhi government to remove the VAT disparity between Delhi and the neighbouring States,” said Nischal Singhania, President of the Delhi Petrol Dealers Association. “Over the past 13 days, there has been a 20 per cent drop in petrol sales and 30 per cent fall in diesel sales across the capital. This is because consumers are moving outside Delhi to refuel their vehicles.”“Nearly 400 retail outlets participated in the strike. On an average, there is a sale of 66 lakh kilolitres of fuel at these outlets. If this disparity continues, we estimate that the sale of auto fuels in the national capital will fall to 40 lakh kilolitres,” Singhania added.Around 20 petrol pumps that are company-owned and company-operated did not participate in the strike on Monday. Published on October 22, 2018 strike RELATED SHARE SHARE EMAIL Delhi COMMENT Taxi, auto drivers protestTaxi and auto drivers unions had also called for a strike to protest various issues including the fuel price hike and low fares charged by aggregators, which is impacting the business of traditional operators.The drivers registered with the aggregators were also suffering, said several unions of cab and taxi owners and operators.Several unions of Delhi Transport Corporation (DTC) drivers also staged a protest against the dual employment policy of DTC, under which contractual employees earn far lesser than the permanent ones.“Almost 70 per cent of the drivers and conductors participated in a protest in front of the DTC headquarters, taking a day’s leave,” said Abhishek, Secretary of the All India Central Council of Trade Unions (AICCTU). “The protest was a show of solidarity for a strike called on October 29,” he said, adding that DTC should be given a more modern bus fleet. Profit is not the main aim of public transport, he further said. COMMENTS
FILE PHOTO – Supreme Court of India judiciary (system of justice) SHARE SHARE EMAIL The Supreme Court on Monday directed the Maharashtra government to submit before it the chargesheet filed against arrested rights activists before a Pune court in connection with the Koregaon-Bhima violence case.A bench headed by Chief Justice Ranjan Gogoi said it wanted to see the charges against the accused and asked senior advocate Mukul Rohatgi, appearing for the Maharashtra government, to submit before it by December 8 the chargesheet filed by the state police in a special court in Pune.The bench, also comprising Justices S K Kaul and K M Joseph, was hearing an appeal of the state government against a Bombay High Court order refusing to extend the time limit of 90 days for filing the probe report. The bench has now posted the appeal for further hearing on December 11.Earlier the apex court had stayed the Bombay High Court order. Recently, the Bombay High Court had set aside the lower court’s order allowing extension of time to police to file its probe report against the rights activists.Earlier, the apex court had refused to interfere with the arrest of five rights activists by the Maharashtra Police in connection with the Koregaon-Bhima violence case and declined to appoint a SIT for probe into their arrest.The Pune Police had arrested lawyer Surendra Gadling, Nagpur University professor Shoma Sen, Dalit activist Sudhir Dhawale, activist Mahesh Raut and Kerala native Rona Wilson in June for their alleged links with Maoists under the Unlawful Activities (Prevention) Act (UAPA).The arrests had followed raids at their residences and offices in connection with the Elgar Parishad conclave held in Pune on December 31 last year, which, the police had claimed, had led to violence at Bhima Koregaon the next day.The Maharashtra government had on October 25 moved the apex court challenging the Bombay High Court order by which the extension of time granted to state police to conclude probe in the violence case was set aside.Earlier, lawyer Nishant Katneshwar, appearing for the Maharashtra government, had told the top court that if the high court order is not stayed then accused in the violence case would become entitled for grant of statutory bail for want of non-filing of chargesheet within the stipulated period.Under the UAPA, a chargesheet must be filed within 90 days of arrest. However, the prosecutor can file a report before the trial court, explaining the reasons for the delay, and seek more time. If satisfied, the court can extend the time by 90 days.In the present case, the Pune sessions court had granted the police the additional 90 days, following an application from the investigating officer (IO) and written submissions by an assistant commissioner of police (ACP).Gadling had challenged this, saying the report and the submissions came from the police, not the prosecutor. Under the Act, the report should be filed by the prosecutor, he said.The petition filed in the top court by the state government said the investigating officer had filed an application in the trial court under his signature giving reasons for extension of time on August 30, 2018.“On the very same day, the public prosecutor submitted her report/application carving out the grounds for extension of time.The public prosecutor, by way of abundant precaution, took signature of the investigating officer. But the High Court was carried away by the fact of signature of the investigating officer and arrived at a conclusion that the report/application was not by the public prosecutor,” the plea had said.It had also said that the high court should not have been carried away by the fact of mentioning of names of parties in detail. Koregaon-Bhima violence case: SC grants more time to Maharashtra police to file chargesheet Bhima-Koregaon case: Supreme Court extends house arrest of rights activists COMMENTS Koregaon-Bhima case: Apex court refuses to interfere with arrests of five activists Published on December 03, 2018 SHARE RELATED COMMENT
Kamaljit Kaur Sandhu New DelhiJuly 12, 2019UPDATED: July 12, 2019 17:51 IST Sources have said that the Kartarpur corridor structure on the Indian side will be completed by October 31. (India Today file photo)The Indian and the Pakistani officials will meet this Sunday for the second high-level talks on the Kartarpur Sahib corridor. The meeting is to find a way to iron out disagreements between the two countries. The Indian side is likely to reiterate the same set of concerns as the key issue remains unresolved — the construction of a causeway by Pakistan.While India is making a bridge for the pilgrims, the Pakistani side is constructing a “causeway”, which has been a persistent bone of contention between India and Pakistan on the Kartarpur corridor issue.India is of the view that not building a bridge would lead to flooding of the Indian areas during monsoon when the Ravi river overflows.”India has disagreed on the construction of a causeway. Causeways are not considered good engineering. India has been covering the Indian side of 68 km bund while the Pakistani side has a vast 250 km bund. Flooding in monsoon is a concern,” a government source said.The Indian team has suggested the use of “service road” by pilgrims till the time the bridge is not built by Pakistan.Kartarpur corridor structure on Indian side to be completed by October 31: SourcesA day after the Ministry of Home Affairs (MHA) sought to dismiss “misconceptions” that India has been slow in completing its side of the Kartarpur corridor, government sources have claimed that the construction on the Indian will be completed by October 31.The sources also said that the Indian government expects completion of the Kartarpur corridor on both the sides before the 550th birth anniversary of Guru Nanak Dev. Speaking to news agency ANI, a government source said, “Construction of the Kartarpur corridor on the Indian side will be completed by October 31. Sixty per cent is done. The government is keen that the Kartarpur corridor is completed on both the sides by the 550th anniversary of Guru Nanak Dev ji. India is looking forward to it with high expectation.”The movement of the Kartarpur corridor pilgrims is expected to be discussed in the meeting. Discussions on permits or visa-free access to all the pilgrims, fees and journey time of the pilgrims are also expected during the Kartarpur corridor talks.”India is creating an all-weather facility to cater to 10,000 pilgrims on special occasions and 5,000 pilgrims daily,” the source said, adding, “India will use high tech surveillance system and put a robust security system in place. That is not negotiable.”However, Pakistan wants to limit the number of pilgrims to 750 a day. Sources say that despite three technical meetings, the Pakistani side has not responded positively.Will reiterate concern regarding Khalistani terrorist Gopal Singh Chawla: SourcesThe government sources have said the Indian side will reiterate their concern regarding the Khalistani terrorist, Gopal Singh Chawla. Gopal Singh Chwala is linked to Sikh Gurdwara Parbandhak Committee and works in the capacity of its general secretary. He is known for his close links to Jama’at-ud-Da’wah (JuD) chief Hafiz Saeed.Also Read | India fully committed to Kartapur Sahib corridor, wants work to be completed expeditiously: MEAAlso Read | India proposes dates for Kartarpur corridor talks with PakistanAlso Watch | #5Reasons Why Pakistan says they decided to open Kartarpur Sahib corridorFor the latest World Cup news, live scores and fixtures for World Cup 2019, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for World Cup news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted byChanchal Chauhan Not a smooth road ahead for Kartarpur corridor amid India-Pak differences over constructionWhile India is making a bridge for the pilgrims, the Pakistani side is constructing a “causeway”, which has been a persistent bone of contention between India and Pakistan on the Kartarpur corridor issue. advertisement Next
India Today Web Desk New DelhiJuly 12, 2019UPDATED: July 12, 2019 23:41 IST Karnataka CM HD Kumaraswamy. (Photo: PTI)There seems to be no end to the political crisis in Karnataka anytime soon. We saw an action-packed Thursday — the rebel MLAs in the crisis-hit ruling JD(S)-Congress coalition flew to Bengaluru to meet Karnataka Speaker Ramesh Kumar. The Speaker moved Supreme Court asking for more time to decide on these MLAs’ resignation and Chief Minister HD Kuramaswamy put up a brave face claiming his government still has the numbers and he does not need to resign.Today looks no different.The rebel MLAs, who met the Speaker at Vidhana Soudha in Bengaluru, have returned to the posh hotel in Mumbai. In Delhi, the Supreme Court took up the pleas and directed the Speaker to maintain status quo on resignation and disqualification of 10 rebel MLAs till July 16. Will Kumaraswamy be able to hold onto his state? IndiaToday.in brings you all the latest updates of Karnataka political turmoil.Here are the updates:10:14 pm: JD(S) MLAs reach Prestige Golfshire Club in Bengaluru08:29 pm: Congress moves its MLAs to Taj Yeshwantpur in Bengaluru08:05 pm: BJP MLAs reach Ramada resort from state assembly07:47 pm: People without ideology all gone now, says SiddaramaiahOn Friday, Siddaramaiah tweeted, “Roshan Baig has been suspended. We are talking to Ramalinga Reddy. Disqualification paper against rebel MLAs are in front of speaker. People without ideology have all gone now, our party has emerged stronger.”06:17 pm: Will face them on floor of house, says CM KumaraswamyKarnataka CM HD Kumaraswamy, in Vidhana Soudha in Bengaluru, said, “After all these developments, I am seeking your permission and time to prove the majority in this session.” He also said, “Whatever issues are there, I will face them on the floor of the house. Let’s see.”05:52 pm: BJP herding its MLAs to resort, tweets JDSJanata Dal (Secular) on Friday tweeted, “Why is BJP herding its MLAs to a resort now? We will not stoop to your level and poach MLAs. Why are you afraid of the floor test, when you claim to have majority? The cowardice of BJP is at display! HD Kumaraswamy will win the confidence vote by a huge margin. Wait and watch!”05:42 pm: BJP uses money to bring down state govts, says Rahul GandhiRahul Gandhi, on political developments in Karnataka, said, “BJP uses money to bring down state governments. They have been doing that. We saw that in the North east as well.”05:34 pm: BJP MLAs leaving for Ramada resort from state assembly05:06 pm: BJP has black sheep in their party, says Congress leader SiddaramaiahFormer Karnataka CM and Congress leader Siddaramaiah, in Bengaluru, said, “We are confident that is why we are moving vote of confidence motion. BJP is afraid because they know there are black sheep in their party.”03:59 pm: BJP to move its MLAs to Ramada Hotel in Bengaluru3.33 pm: Session adjourned till Monday.3.28 pm: Congress likely to move its MLAs to Bengaluru resort.1.34 pm: Yeddyurappa walks out of assembly and enters his chamber. Holding a discussion on the statement of the CM.1.31 pm: Karnataka MLAs BC Patil, 2 others exit Mumbai’s Renaissance hotel.1.25 pm: Fix time for trust vote, ready to prove majority: KumaraswamyKarnataka CM HD Kumaraswamy to SPeaker in Vidhana Soudha: After all these developments, I am seeking your permission and time to prove the majority in this session.1.07 pm: Matter to be now taken up on Friday.1.05 pm: Mukul Rohatgi, representing MLAs, says the case not under Constitution’s 10th Schedule, Speaker’s decision not immune from judicial scrutiny.1.03 pm: Advocate Rajeev Dhavan, appearing for Karnataka CM, tells SC one of the rebel MLAs was involved in Ponzy scheme for which government is being accused of.12.58 pm: SC orders status quo over rebels resignation rowThe Supreme Court has asked the Karnataka Speaker not to take any decision on resignation or disqualification of rebel MLAs till Tuesday.Karnataka crisis Live: SC asks Speaker not to take a decision on rebels resignation till Tuesday.12.50 pm: Plea of MLAs should not have been entertained. In their plea, MLAs levelled corruption allegations and order was passed without hearing me: Kumaraswamy.12.44 pm: MLAs in plea have levelled corruption allegations and order was passed without hearing me: Karnataka CM to SC.12.39 pm: Karnataka crisis: Rebel MLAs say speaker questioned their move to approach SC and said “go to hell” to them in front of media.12.37 pm: Speaker can be given one or two days to decide on resignations. If he does not decide, contempt notice can be issued against him, MLAs to SC.12.22 pm: SC hearing: Congress leader and senior advocate Abhishek Manu Singhvi argues that these MLAs’ intention in giving resignation is something different, and it is to avoid disqualification.12.19 pm: Meanwhile, CM HD Kumaraswamy has arrived at Vidhana Soudha. Other MLAs also present.12.17 pm: Congress MLA Nagendra has been admitted to hospital in Bengaluru. He has informed Siddaramaiah: Sources12.17 pm: SC hearing: Abhishek Manu Shinghvi says “Affect of disqualification and resignation are different. They are trying to prejudice the court. They are trying to do a superficial interpretation.”All 10 are facing disqualification proceedings. Disqualification notice were issued against the eight MLAs after they gave resignation to the governor but before the resignations were handed over to the speaker. In yesterday’s meeting the MLAs admitted that they met the governor, went to the resort, went to Mumbai, but never met the speaker to hand over the resignation.”12.14 pm: SC hearing: Speaker’s lawyer Abhishek Manu Singhvi argues who will protect his client but the court? “I am also a constitutional functionary. The MLAs are changing their stand. Earlier they said Speaker absconding, now they admit they didn’t come to meet him [the speaker],” Singhvi told the court. CJI asks – Is it your stand that constitutionally disqualification has to be decided first?12.10 pm: SC hearing: CJI Ranjan Gogoi asks: Is the speaker trying to challenge the power and authority of the SC? Is the stand of the speaker is that SC should stay its hands?12.08 am: CM Kumaraswamy is confident of proving majority, if the need be. People are angry. No workers are happy with this but they will understand this. Resolution of his problem depends on the Speaker. Government is funtioning effectively: HK Patil12.07 pm: SC hearing: Mukul Rohtagi request the apex court to issue contempt of court orders against Speaker Ramesh Kumar. “On one hand, the speaker says he cannot take the decision in one day, on the other he says court cannot direct me. If he doesn’t take decision according to court orders he should face contempt of court proceedings,” rebel MLAs’ reprsentative said.12.05 pm: SC hearing: Appearing for the rebel MLAs, senior advocate Mukul Rohatgi tells SC that Speaker Ramesh Kumar has not taken any decision after meeting MLAs.”Instead of taking decision, Speaker held a press conference and asked why did MLAs go to court? They could have come to me,” advocate told the court.12.01 pm: Hearing on rebel MLAs’ plea resumes in the Supreme Court. 11.50 am: CM HD Kumarswamy trying to get in touch with Maharashtra BJP leader Prasad Lad, who has been camped at Renaissance since the Day 1 of the Karnataka political crisis.11.26 am: Lawyer appearing for many Congress workers today, before the Supreme Court mentioned and sought a hearing in Karnataka political crisis case.11.18 am: BJP MLAs have been asked to assemble in Yeddyurappa’s chamber before stepping into the assembly: Sources to India Today10.57 am: What more proof does the speaker need, asks rebel MLAs counsel Mukul RohatgiRebel MLAs counsel Mukul Rohatgi has slammed the Karnataka Speaker for asking more time to accept resignations.10.13 am: Whip notices outside homes of all rebel MLAs. 9.50 am: Speaker should take decision on resignation of MLAs at earliest: BJP Senior BJP leader and Union Minister Pralhad Joshi said the Speaker of the Karnataka Assembly should take a decision on the resignation of the MLAs at the earliest and should not drag the ongoing constitutional crisis in the state.Karnataka Assembly Speaker K R Ramesh Kumar has ruled out any immediate decision on the resignation of rebel MLAs in the crisis-hit ruling JD(S)-Congress coalition, saying he cannot be expected to work at “lightning speed”.”… speaker should take the decision at the earliest since they (MLAs) have submitted their resignation in person. There should not be any reason to further drag the constitutional crisis in the state,” he told reporters at the Parliament premises.8.43 am: Karnataka Speaker to meet 3 rebel MLAs at 4pm today.8.41 am: SC to take up plea of rebel MLAsThe Supreme Court will hear the petition filed by 10 rebel MLAs of the Congress and JD(S) alleging that the Karnataka Speaker was not accepting their resignations deliberately.8.29 am: Karnataka rebel MLAs returned to Renaissance – Mumbai Convention Centre Hotel late last night.8.18 am: The monsoon session of the Karnataka legislature begins today.8.16 am: Speakers says resignation in right format nowIn Bengaluru, Speaker Ramesh Kumar said the MLAs had submitted their resignations in the “right format” and he will have to examine whether they are “voluntary and genuine.”The Supreme Court had asked the speaker to take the decision “forthwith” on Thursday on resignation of rebel Congress-JD(S) coalition MLAs.8.15 am: 14 rebel Karnataka MLAs return to Mumbai hotelFourteen rebel MLAs from Karnataka returned to a luxury hotel here Thursday after submitting their resignations to the Assembly Speaker in Bengaluru, a local BJP leader said.The MLAs have returned to the Renaissance hotel in suburban Powai and they would be staying there for another two days, the leader said.”They submitted their resignations before the Speaker of Karnataka Assembly today [Thursday] and now they are back in Mumbai,” the BJP leader added.THE CRISISThe resignation of 16 MLAs (13 from Congress and three from JDS) has pushed the coalition government in Karnataka to the brink of collapse.Two independent MLAs have also withdrawn support to the coalition government.The disgruntled Congress MLAs maintained that they have not quit their party and have only resigned from the assembly.Of the 16 MLAs who have resigned, 13 are from Congress and three from JD(S). The coalition’s total strength is 116 (Congress-78, JD(S)-37 and BSP-1), besides the Speaker.With the support of the two independents, who resigned from the ministry on Monday, the BJP has 107 MLAs in the 224-member House, where the half-way mark is 113.If the resignations of the 16 MLAs are accepted, the coalition’s tally will be reduced to 100.READ | Karnataka Speaker being partisan, not right to challenge SC authority: Mukul RohatgiREAD | Congress asks Karnataka rebel MLAs to vote for coalition, threatens anti-defection lawWATCH | Will Congress lose Karnataka?For the latest World Cup news, live scores and fixtures for World Cup 2019, log on to indiatoday.in/sports. Like us on Facebook or follow us on Twitter for World Cup news, scores and updates.Get real-time alerts and all the news on your phone with the all-new India Today app. Download from Post your comment Do You Like This Story? Awesome! Now share the story Too bad. Tell us what you didn’t like in the comments Posted bySumeda Tags :Follow KarnatakaFollow Kumaraswamy Next Karnataka crisis Updates: People without ideology all gone now, says SiddaramaiahAmid deepening coalition crisis in Karnataka, action shifts to Delhi on Friday with the Supreme Court has directed the Karnataka Speaker to maintain status quo as of Friday with regard to resignation and disqualification of 10 rebel MLAs.advertisement
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