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- 10/08/18--14:36: _A YouTuber trolled ...
- 10/08/18--14:38: _The most popular Ha...
- 10/08/18--14:41: _Meet Jair Bolsonaro...
- 10/08/18--14:42: _Economist Paul Rome...
- 10/08/18--15:01: _LinkedIn, a Microso...
- 10/08/18--15:08: _A complete list of ...
- 10/08/18--15:14: _Goldman Sachs is sc...
- 10/08/18--15:23: _TV execs are vowing...
- 10/08/18--15:25: _The scariest parts ...
- 10/08/18--15:27: _Trump jokes about T...
- 10/08/18--15:50: _A Saudi Arabian jou...
- 10/08/18--16:14: _Google drops out of...
- 10/08/18--16:32: _Here's how the regt...
- 10/08/18--17:15: _Trump apologizes to...
- 10/08/18--18:07: _Microsoft is invest...
- 10/08/18--18:46: _Trump claimed Brett...
- 10/08/18--19:03: _Drew Brees broke th...
- 10/09/18--10:01: _NASA's Hubble space...
- 10/09/18--10:02: _Hulk actor Mark Ruf...
- 10/09/18--10:03: _'If they don't have...
- The YouTuber Jonathan Morrison posted selfies to Instagram that he said he'd taken with a Google Pixel 2 phone in portrait mode.
- But Morrison lied, and actually took the pictures with the new iPhone XS.
- Morrison, a tech reviewer, was demonstrating how people let their loyalty to a brand color their judgment of a new product.
- In a video explaining the stunt, Morrison encouraged his followers to get rid of their "preconceived notions."
- Halloween costume trends follow cultural trends.
- Before mass-produced costumes existed, people made their own witch and ghost outfits.
- Popular costumes have included crepe paper aprons, blood and gore, and "sexy" versions of anything.
- Jair Bolsonaro, a far-right politician criticized for at-times misogynistic, homophobic, and militaristic views, could become Brazil's next president.
- Bolsonaro won the first round of Brazil's presidential election on Sunday.
- He's been dubbed the "Brazilian Donald Trump" and has vowed to make Brazil "great" again.
- In 2011, for example, Bolsonaro told Playboy magazine he would "be incapable of loving a homosexual son."
- "I won’t be a hypocrite: I prefer a son to die in an accident than show up with a mustachioed guy. He’d be dead to me anyway," Bolsonaro said.
- He was also criticized in 2014 after suggesting a female colleague in congress was too ugly to be raped.
- "She doesn’t deserve to be raped, because she’s very ugly," Bolsonaro said at the time. "She’s not my type. I would never rape her. I’m not a rapist, but if I were, I wouldn’t rape her because she doesn’t deserve it."
- Bolsonaro also once described Afro-Brazilians as lazy and fat, and he has called refugees from Haiti, Africa, and the Middle East as the "scum of humanity."
- And back in the early 1990s, he suggested he was in favor of a dictatorship.
- Years later, in 2015 he defended the brutal dictatorship that presided over Brazil from 1964 to 1985, which was responsible for numerous atrocities.
- More recently, Bolsonaro in September suggested his political opponents should be shot. The same week, Bolsonaro was stabbed along the campaign trail, an incident that saw his poll numbers rise.
- Economist Paul Romer won the 2018 Nobel Prize in Economics on Monday.
- Romer's endogenous growth theory proposes that there's a snowball effect in the market of ideas: 'The more we know, the easier it gets to discover,' he's said.
- The theory goes along with what Bill Gates thinks about human capital and how he spends money at his foundation.
- LinkedIn announced its intent to buy the employee survey software company Glint in a deal said to be valued at more than $400 million.
- Glint specializes in employee surveys measuring satisfaction with management, compensation, and other internal issues.
- The company last raised $20 million in November 2017, at a $220 million valuation.
- Goldman Sachs has cut loan origination targets for its consumer lending platform Marcus for 2019, according to a Bloomberg report.
- The pullback reflects the firm's growing concerns about the consumer debt market, the report said.
- Marcus is a key part of Goldman CEO David Solomon's growth plans for the bank.
- Goldman Sachs has a novel method for predicting the next economic slump, and it's at the heart of its hot new business
- TV executives spent much of Advertising Week last week vowing to work together to battle the FANG titans.
- The industry is trying to adopt some of Facebook, Google, and Amazon's digital ad buying efficiency and powerful targeting capabilities, less it risks getting bowled over.
- It's also promising to cut down on how many ads it shoves in way of consumers, who are streaming tons of ad-free content.
- Big TV companies need to work together in some capacity, whether that's coming to agreement on how best to measure ads in 'connected TV' or selling ad space collectively via some sort of digital marketplace.
- TV needs to dial back how many ads it shows people, or risk losing an entire generation or two to ad-free streaming.
- The world will see catastrophic effects of climate change if temperatures climb to 1.5 degrees Celsius over pre-industrial levels, according to a new report.
- These effects include extreme heatwaves, severe droughts, the death of coral reefs, mass extinctions, sea-level rise, and more.
- We're on track to hit that 1.5-degree temperature rise by 2040. If we reach 2 degrees C of warming, the effects will be even more disastrous.
- It's still possible to avoid the worst of these predictions, but doing so requires a transformation of the world's energy and economic systems.
- President Donald Trump said he likes Taylor Swift's music "about 25% less" now that she's endorsed two Democratic candidates running in her home state of Tennessee ahead of the November midterm elections.
- Swift shared her endorsement with her 112 million followers on Instagram Sunday night. It's the first time she publicly revealed her political leanings.
- In the post, the Grammy-winning musician said she "cannot support" Republican Rep. Marsha Blackburn of Tennessee, who is running for Senate, saying the congresswoman's beliefs were not consistent "not MY Tennessee values."
- Trump, who has endorsed Blackburn in the race to replace the retiring Sen. Bob Corker, sought to downplay Swift's political influence.
- A Saudi Arabian journalist is missing and Turkish authorities believe he was brutally murdered in the Saudi Consulate in Istanbul.
- Jamal Khashoggi, 59, a Saudi reporter who's often been critical of the Saudi Arabian government, entered the consulate last Tuesday but hasn't been seen since.
- Saudi Arabia claims Khashoggi left the consulate and rejects claims he was murdered.
- The Turkish government is demanding the Saudis prove Khashoggi left the consulate.
- Google has dropped out of a bidding war with Amazon and other cloud computing companies for Joint Enterprise Defense Infrastructure (JEDI), a $10 billion contract from the Pentagon.
- Google chose to withdraw because the contract may conflict with its corporate values, and its principles over the ethical use of AI.
- This decision comes just months after several employees signed a petition, and even resigned, over Google's involvement with military projects.
- The contract is winner-take-all, with Amazon seen as the frontrunner.
- Regulatory compliance is still a significant issue faced by global FIs. In 2018 alone, EU regulations MiFID II and PSD2 have come into effect, bringing with them huge handbooks and gigantic reporting requirements.
- Regtech startups boast solutions that can ease FIs' compliance burden — but they are struggling to scale.
- Some changes expected to drive greater adoption of these solutions in the next 12 to 18 months are: the ongoing evolution of startups' business models, increasing numbers of partnerships, regulators' promotion of regtech, changing attitudes to the segment among FIs, and consultancies helping to facilitate adoption.
- FIs will actively be using solutions from regtech startups by 2020, and startups will be collaborating in an organized fashion with each other and with FIs. Global regulators will have adopted regtech themselves, while continuing to act as advocates for the industry.
- Reviews the major changes expected to hit the regtech segment in the next 12 to 18 months.
- Examines the drivers behind these changes, and how the proliferation of regtech will improve compliance for FIs.
Provides our view on what the future of the regtech industry looks like through 2020.
- President Donald Trump apologized to Justice Brett Kavanaugh and offered condolences to his family during Kavanaugh's ceremonial swearing-in ceremony on Monday night.
- "I would like to begin tonight's proceeding differently than perhaps any other event of such magnitude," Trump said at the White House on Monday. "On behalf of our nation, I want to apologize to Brett and the entire Kavanaugh family for the terrible pain and suffering you have been forced to endure."
- Trump was talking about the fallout from multiple sexual misconduct allegations leveled against Kavanaugh during the final weeks of his confirmation hearings in the Senate.
- The process included dramatic testimony from California university professor Christine Blasey Ford who accused Kavanaugh of sexually assaulting her when they were teenagers in the 1980s.
- Microsoft announced it would invest an undisclosed amount in the Singapore-based ride-hailing service, Grab.
- The Financial Times reported Microsoft's investment would total around $200 million and put Grab's valuation "closer to $12 billion."
- As part of that agreement, Grab agreed to use Microsoft's cloud, Azure.
- Microsoft will also work with Grab on software projects like facial recognition that help drivers and passengers recognize each other and real-time translation services.
- President Donald Trump claimed Justice Brett Kavanaugh was "proven innocent" of the numerous sexual misconduct allegations that nearly upended his confirmation to the Supreme Court.
- "A man or woman, must always be presumed innocent unless, and until proven guilty," Trump said at Kavanaugh's swearing-in ceremony on Monday night. "And with that, I must state that you, sir, under historic scrutiny, were proven innocent."
- The FBI investigated a claim made by Christine Blasey Ford, a California university professor who said Kavanaugh sexually assaulted her when they were both in high school. The results of that investigation, delivered in a report to the White House and Senate lawmakers last week, led the White House and Republicans on the Judiciary Committee to say there was no evidence to corroborate Ford's claims.
- While both Ford and Kavanaugh testified about the allegations in front of the Senate Judiciary Committee on September 27, the proceeding was not a trial and no verdicts were rendered.
- Drew Brees needed 201 yards during "Monday Night Football" to pass Peyton Manning's all-time passing yardage record.
- Brees needed less than one half to get the record.
- The record fell on a gorgeous 62-yard touchdown pass to Tre'Quan Smith.
- After the touchdown, Brees celebrated with his teammates and family.
- A vital part inside the Hubble Space Telescope, which records stunning images of the universe, failed on Friday.
- The part is called a gyroscope and helps Hubble point at celestial objects.
- It's the third of six total gyros to fail since 2009, when astronauts last serviced Hubble. Another gyro is acting "drunk," one official said.
- NASA may start using a single gyro to extend the telescope's lifespan, but this would limit the observations Hubble can make.
- When Hubble dies, NASA will have a few ways to get rid of — or rescue — the bus-sized cylinder.
- Bruce Banner/Hulk actor Mark Ruffalo may have revealed the "Avengers 4" title in an interview on "The Tonight Show."
- It was bleeped out, but a fan may have uncovered what Ruffalo said using audio-editing software.
- Spoiler alert: The potential title is "The Last Avenger."
- While it's unlikely that Ruffalo actually revealed the title, it wouldn't be the first time he's slipped up, and that title makes thematic sense.
- The State Department has ordered buyers to cut oil imports from Iran by November 4.
- Against a backdrop of falling output from other key OPEC countries, analysts say barrels could hit $100.
- Watch oil trade in real time here.
The rivalry that exists between the devoted fans of Apple's and Google's smartphone platforms is intense and territorial. Enter Jonathan Morrison, the popular tech reviewer on YouTube, who decided it was time to teach his audience about blind loyalty to a brand.
With a little bit of trickery and misinformation, Morrison — whose channel has 2.5 million subscribers — took on the bias of Apple and Android fans.
Morrison's scheme was pretty simple: He posted these two selfies to Instagram over the weekend, with captions explaining he was testing out portrait mode on Google's flagship Pixel 2 smartphone.
His followers took to social media to praise the Android device for its photo quality while using Morrison's photo as a pretext for taking jabs at Apple's newest iPhone, the iPhone XS.
The iPhone XS has come under under fire, in a scandal dubbed "Beautygate," for its new camera that some people thought automatically smooths out your skin in photos.
But what consumers didn't know is that Morrison had taken his Instagram selfies not with an Android phone but with an iPhone XS. His fans had unknowingly praised a photo from the Apple-made camera they had professed to hate so much.
"So I just wanted that to be a little bit of a lesson out there: Don't let a preconceived notion or headline skew your judgment," Morrison said in a YouTube video revealing his trolling. "Because clearly, everyone who thought that was a Pixel automatically assumed it was much better than the iPhone when in fact, that was the same iPhone X Max [sic] that apparently had all the beautygate problems."
Morrison knows something about this kind of smartphone tribalism. Over the past eight years, Morrison has faced his fair share of criticism from smartphone fans who vehemently disagree with his takes and accuse him of favoritism, one way or the other.
When his recent review of the new Apple phone did not mention "beautygate" or the charging problems that other users had experienced with their new iPhone XS, followers left comments calling Morrison an "Apple shill" who was giving the tech giant "a free pass."
"The point is, bugs happen. It's not just Apple — it's Google, it's Samsung, it is most companies out there," Morrison says in his video. "The thing is, though, Tesla (and other companies') problems don't get as much clicks as iPhone problems."
Besides, some have pointed out that the iPhone XS camera's "noise reduction" technology, that helps take pictures with more detail, could be responsible for the so-called "beauty mode."
"Reiterates that people are not only blinded by their hate for Apple, there’s no constructive criticism," a Reddit user wrote in a popular thread in the Reddit's Apple community. "Draw your own conclusion."
See Morrison's full YouTube video, where he revealed his bait-and-switch.
We've contacted Morrison for more insight into the prank.
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Ever since the late 19th century, Americans have been dressing up to celebrate Halloween. The costumes people choose to wear are always changing, influenced by popular culture and current events.
For example, bloody, gory Halloween costumes became popular in the 1980s following the release of the horror movie "Halloween," and the sales of presidential masks have successfully predicted nearly every US election.
From the 1870s to the 1890s, people mostly made their own witch and ghost costumes.
There were no store-bought costumes in the late 1800s, so people dressed up as classic symbols of the Halloween holiday with looks they made themselves.
"The things that appealed to people were the things that they loved about Halloween, so you saw a lot of handmade witch costumes and ghost costumes," Bannatyne said.
Victorian America was also fascinated by the Far East.
Any costumes that were what people would have called "oriental" or "exotic," such as Egyptian princesses, were popular choices in the late 19th century.
"Anything that was exotic and in another world, either on this planet or another dimension, was really interesting," she said.
Mass-produced paper costumes and buckram masks hit stores between the 1900s and the 1920s.
Halloween became more popular at the turn of the century, celebrated in civic institutions such as schools and parades. Almost everyone was wearing mass-produced costumes made by Dennison Paper Company.
"Everybody looked the same, those were aprons with cats or little witches printed on them, or hats or paper masks. They were meant to be worn once and thrown away, like crepe paper," Bannatyne explained. "That's the first time Halloween got a standard color scheme — yellow, black, orange, purple — with paper products.
See the rest of the story at Business Insider
Jair Bolsonaro, an incendiary far-right politician criticized for at-times unabashed misogynistic, homophobic, and militaristic views, took a big step this weekend toward becoming Brazil's next president.
Bolsonaro, a member of the Social Liberal Party who's been dubbed the "Brazilian Donald Trump," won roughly 46% of the vote in the first round of Brazil's presidential election on Sunday. He was only a few percentage points shy of winning the outright majority necessary to become the next president.
The far-right frontrunner will now face off against a leftist candidate — the Workers Party candidate, Fernando Haddad — in a runoff election on October 28.
Bolsonaro supporters singing Brazil’s national anthem outside his house. pic.twitter.com/zgQlxph8PL— Dom Phillips (@domphillips) October 7, 2018
Who is Jair Bolsonaro?
Bolsonaro, a former army captain who's served as a congressman for over 20 years, has a long history of courting controversy and is a deeply divisive figure in Brazilian politics.
He's frequently come under fire for controversial remarks about gay people, women, and minorities:
POLITICIAN STABBED: Right-wing Brazilian presidential candidate Jair Bolsonaro was stabbed in the abdomen at a rally today – with the suspect taken into custody on the scene, badly beaten by the politician’s supporters, and the candidate in surgery. @DavidMuir reports. pic.twitter.com/CkxjtSVoAS— World News Tonight (@ABCWorldNews) September 7, 2018
On Monday, Bolsonaro refused to apologize for his controversial rhetoric and said he can't just become the "peace and love candidate."
Bolsonaro's Trump-like rhetoric has made him popular among many Brazilians
Rampant corruption, an ongoing recession, and rising rates of violent crime have contributed to some Brazilians embracing Bolsonaro and his hardline stances on an array of issues.
Much like Trump in the US, Bolsonaro has painted a picture of Brazil as a nation in decline. He has pledged to make the largest and most powerful country in South America "great" again by ridding its politics of corruption.
In a live broadcast on Facebook earlier this month, Bolsonaro said, "Let's make Brazil Great! Let's be proud of our homeland once again!" The presidential hopeful's bombastic use of social media is also part of the reason he's been compared to Trump.
To restore law and order, Bolsonaro has advocated for loosening gun laws and called for bringing back the death penalty.
He's pushed against environmental regulations, and like Trump is critical of the landmark Paris climate accord.
Bolsonaro has also called for lowering taxes and privatizing state companies.
In a country desperate for change, many Brazilians are seemingly attracted to Bolsonaro's radical platform and are unfazed by his controversial rhetoric.
As Bolsonaro's campaign has gained steam many have compared him to Trump, including his son, Eduardo Bolsonaro. If his father wins, "It’s going to be beautiful," Eduardo said.
"It will be just like Trump in the United States,"he said at a recent rally.
But, like Trump, Bolsonaro continues to be a polarizing figure.
In late September, thousands upon thousands of women marched in protest of Bolsonaro under the slogan #EleNao, which means "Not Him." The march was similar to the anti-Trump "Women's March" held in the US.
Two Americans won the Nobel Prize in Economics on Monday for their work suggesting robust, long-term economic growth can go hand in hand with a healthier, happier planet — if the rules of business and government are set up the right way.
William Nordhaus, an economist at Yale, was awarded half of the roughly $1 million prize for his work on pioneering carbon taxes, putting a price on burning fossil fuels that warm up the Earth.
Paul Romer, an economist at NYU, won the other half of the award for his life's work, which is centered around how new ideas — born through technology, encouraged by patents, and spurred on by some healthy competition — can drive sustainable, long-term economic growth.
Romer is one of the pioneers of the "endogenous growth theory," or the idea that economic growth is best driven by some of the most organic forces in a market: its people.
"At the most basic level, an economy grows... whenever people take resources and rearrange them in a way that makes them more valuable,"Romer wrote in a 2015 blog post that he resurfaced, after he won the Nobel Monday.
It's a wrinkle of the productivity equation that many economists in the past (and even some present-day scholars) neglect to take into consideration, perhaps because it's much easier to count up things like physical capital and labor than the invaluable contributions of human minds to global progress.
"I think part of why this question attracted me was because of my background in physics, and to a physicist, the whole notion of a production function sounds wrong," Romer said in a 2007 interview with Stanford economist Russell Roberts. "We don’t really produce anything. Everything was already here, so all we can ever do is rearrange things. Think of conservation of mass. We’ve got the same amount of stuff we’ve always had, but the world is a nicer place to live in because we’ve rearranged it."
Through endogenous growth theory, people can be given more incentives to "rearrange" the world, and discover new ideas, instead of toiling away in factories or on computers, repeating the same motions over and over again.
"The more we know, the easier it gets to discover," as Romer put it.
Whether it's improving communication systems, developing new drugs, or coming up with potentially planet-saving environmental proposals, Romer argues that we can solve the world's most pressing problems with increasing speed using the principles of endogenous growth theory.
Take climate change, for example.
"People think protecting the environment will be so costly and so hard that they want to ignore the problem and pretend it doesn’t exist,"Romer said at a news conference after the Nobel announcement. "Once we start to try to reduce carbon emissions, we’ll be surprised that it wasn’t as hard as we anticipated."
But a "eureka" moment doesn't happen automatically. It needs to be backed up by policies that champion research and development, pay people for good ideas, provide decent education for all, and maintain well-regulated, competitive markets for goods and services.
"It takes some collective action, some support for research, or some provision of patent protection, or a mixture of the two, and some focused energy," Romer said when reached by phone from NobelPrize.org early Monday.
It's a theory that goes hand in hand with what The Bill and Melinda Gates Foundation often touts as a reason for its investment in some of the poorest countries around the world. Armed with modern innovations including vaccines, family planning, and education, the Gates Foundation argues again and again that things need not be as bleak as they may seem.
Developing countries can lift themselves out of poverty with investments in education and family planning, which give people more time for thinking, saving, and generating new ideas. Some are trying, with support from the Gates Foundation, to invent new ways of growing and selling tomatoes and corn in Ghana, while others research life-saving waterless toilets that could stop some of the one million diarrhea deaths that happen around the world every year.
Just like Romer, Gates believes that we can solve the most pressing problems of the world with new ideas, if we move quickly.
(Perhaps ironically, Romer testified against Gates' Microsoft Corporation in a 2000 antitrust case that hinged on whether Microsoft making it's Windows OS unworkable on Palm Pilots was effectively stifling creative innovation in the market.)
But according to Romer's calculations, we can only achieve this better future if we agree to pay people with good ideas, communicate what they've discovered with the world, and then improve upon it, without a small crowd of monopolistic interests running the show.
On Monday, LinkedIn — the business social network that operates as an independent subsidiary of Microsoft — announced its intent to acquire Glint, an employee surveying startup.
While LinkedIn didn't disclose terms of the deal, CNBC reports that the purchase price was over $400 million, and possibly more than $500 million, citing people familiar with the matter. A company spokesperson would not provide details of the deal's financials with Business Insider, but said it was, “one of the largest acquisitions made under the LinkedIn brand."
Glint — which specializes in employee surveys measuring satisfaction with management, compensation, and other internal issues — last raised a $20 million Series D round of funding in November 2017, in a deal said to give the company a valuation of $220 million.
"Our insights into people success, along with LinkedIn’s insights into the broader workforce, will be a powerful combination that can help customers attract, develop, and retain the best talent," Glint CEO and co-founder Jim Barnett wrote in his blog post announcing the deal.
The Redwood City, California based company has more than 200 employees and has attracted large corporations to use its software, including Alphabet's Waymo, Dish Network, and United Airlines.
The hefty pricetag could indicate that Microsoft is continuing to back LinkedIn as an independent service, giving it the latitude to cut large acquisition deals to further its own business.
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Editor's Note: Astrology is just for fun and is not supported by scientific evidence.
The Kardashian-Jenner family has built its legacy on sharing personal details. But while social media posts and "Keeping Up With the Kardashians" can offer fans a closer look at each woman's personality, it's impossible to truly know the famous family's dynamic.
Luckily, astrology can offer some additional insight. Here are each of their zodiac signs — and some basic information on what it may mean for the Kardashian-Jenner women.
Kris Jenner is a powerful and ambitious Scorpio.
Because they are masters at controlling the narrative and spinning public perception, Scorpios can be manipulative and self-interested. But they are also determined and sensitive with a fighting spirit — and oftentimes an excellent instinct for business.
Caitlyn Jenner is also a Scorpio.
Like her ex-wife, Caitlyn Jenner is a natural tastemaker. As a Scorpio, she finds it easy to command attention while still maintaining an aura of mystery and intrigue. Scorpios can keep a secret like no other sign in the zodiac; they tend to exert lots of energy in order to control how people perceive them.
Scorpios can also be extremely competitive. They want to be considered the best in their field and many are masterful in their chosen disciplines. This is a symptom of the sign's determination and ambition — but also feeds the classic Scorpio desire to be seen as powerful.
Kourtney Kardashian is an assertive and opinionated Aries.
As the current season of "KUWTK" has clearly revealed, Kourtney Kardashian isn't afraid to dig in her heels. Like a true Aries, she can be snarky and stubborn, adhering to her own self-defined moral compass.
Aries is a sign that commonly toes the line: between confidence and insecurity; maturity and childishness; independence and codependence; valuing freedom and desiring control.
As the first sign in the zodiac, it is commonly seen as the most fluid and changeable, susceptible to mood changes.
See the rest of the story at Business Insider
Goldman Sachs is cutting a key target for its consumer lending platform Marcus, reflecting the firm's growing concerns about the consumer debt market, according to a new report.
Goldman has scaled back loan originations for 2019 for Marcus, according to a Bloomberg report on Monday which cited anonymous sources.
The story didn't detail the new targets and a Goldman spokesman declined to comment.
"Given the competitive dynamics in the marketplace, a respect for prospective risk management, and potentially changing priorities at the firm, we would not be surprised to see some scaling back or modulation of the growth plans for the unsecured lending component of Marcus," a Credit Suisse report said on Monday.
Marcus is a key part of new Goldman CEO David Solomon's plans to grow revenue at the bank over the next several years. The company said last year it sees a $1 billion revenue opportunity with Marcus over three years.
As of June 30th, Marcus has originated $4 billion in loans, the bank said.
Yet as Marcus has grown, it's raised questions from bank analysts about the credit quality of its loans, especially as the bank has said that a chunk of its loan book is subprime.
Robin Vince, Goldman's chief risk officer, responded to some of these concerns during an investor call in August. “Our growth at the Marcus loan portfolio will continue to be prudent and disciplined. We are lending to creditworthy customers with a demonstrated ability to pay. The business is not under pressure to reach volume targets."
Marcus was first launched in the US in 2016 and is a key part of the firm's effort to diversity revenue sources and boost earnings as once lucrative trading revenue has slowed.
In April, Marcus acquired Clarity Money, a personal finance startup, to add more than 1 million additional customers to the company.
And last week, Goldman launched Marcus savings account service in the UK, which offers customers a savings account paying an interest rate of 1.5% for one year. Around 50,000 customers in the country has signed up for the retail product in the span of one week.
Goldman Sach's move to cut its loan targets came at a time when there is growing concern among lenders about the potential for increased losses in consumer credit amid rising interest rates.
U.S. household debt hit a new peak to $13.3 trillion in the second quarter of this year, while mortgages balances — the largest component of household debt — rose to a total of $9 trillion during that period, according to the Federal Reserve Bank of New York.
Meanwhile, total U.S. consumer debt is on pace to reach $4 trillion by the end of 2018, a report by LendingTree said.
The Federal Reserve has increased interest rates, which helps gauge rates for consumer borrowing like mortgages and credit cards, for the third time this year. The rate now stands in a range of 2% to 2.25%, compare to 0.50% and 0.75% in December 2016.
It was the week that the TV industry sounded the alarms.
Work together. Change who you are. Or die at the hands of FANG.
There's no doubt that executives are talking up a big game when it comes to defending the ad industry against Facebook, Google, Amazon, and Netflix. The question is, how fast do they really want to move?
Indeed, amidst a sea of panels and keynote presentations during Advertising Week New York last week, two persistent themes emerged regarding the TV industry's glaring need to change in order to survive the coming FANG onslaught:
On the first point, TV companies seem to be realizing what they are up against long term. It's easy, efficient, and precise to buy targeted ad space via Google, Facebook, and, increasingly, Amazon.
Buying ads that way on TV is gaining steam, but is still clunky and fragmented.
And over the long term, TV needs to have an answer for the media buyer who's accustomed to buying ads on those digital platforms with a few clicks, and wants to do the same across TV, not network by network, or TV company by TV company.
"The biggest challenge to television as a platform is the various players within television," said Marcien Jenckes President, Advertising for Comcast Cable, during an Advertising Week session. "If we don't kind of set aside our differences and our territorial rivalries, somebody else is going to come along and eat our lunch. Period. Full stop. No question about it."
Easier said than done. Currently, there are loads of ways to buy more targeted, data-driven TV ad in bits and pieces. There's NCC, a data consortium between Comcast, Charter and Cox. There's AT&T's ambitious new Xandr division.
"Everyone is doing it their way," said Marissa Jimenez, president of Modi Media, a division of the ad buying giant GroupM which specializes in advanced TV ads. Jimenez noted that different media companies use different data sets and methodologies for selling targeted ads. "We need synergy."
TV giants know they are fighting against bigger giants
Last week, prominent media M&A banker Terry Kawaja, CEO of LUMA Partners, gathered 80-plus TV and digital executives at a dinner aimed at tackling some of TV's thorniest issues in light of the growing FANG power.
The event was seen as constructive, but undoubtedly "there was some tension," said an attendee.
"Today it feels like we are gearing up for a battle between TV incumbents and the digital giants where one side is playing offense and the other defense with decidedly different tactics," said Kawaja during a presentation
So can can TV get its act together in time? Does it need to?
Rino Scanzoni, CEO of Modi Media, told Business Insider he's both optimistic and frustrated. Addressable TV ad spending is growing fast. And that's a front where TV can compete against Google and Facebook, he believes, since it blends data targeting and powerful, big screen TV advertising.
But it's hard enough to get the industry to agree on how to count how many people are watching TV ads on various OTT outlets, let alone getting all the players to work together on some sort of TV buying platform.
"It comes down to price," he said. "The price differential [paid by different advertisers] in TV is quite significant. So there is no incentive for TV networks to expose that [in a programmatic exchange]."
That factor, coupled with competitive data models and general inertia, is holding up TV from changing.
"There is so much talk, yet the industry moves so slow," he said. "It's frustrating. We all talk about this and meanwhile years are going by."
Everyone wants fewer TV ads
Meanwhile, live TV viewing is losing ground quickly to streaming. The fall TV season is off to a scary start.
"As everyone at this point knows, linear video consumption continues to decline," said Krishan Bhatia, EVP, Business Operations and Strategy, for NBCU's Advertising Sales division.
Something's gotta give. And if there was consensus during Advertising Week, it was on the idea that TV needs to run fewer ads to compete with streaming, without blowing up the $70 billion US TV ad market overnight.
David Levy, EVP, Non-Linear Revenue for Fox Networks Group, said during a panel discussion on Wednesday that FX network has reduced ad time from 16 minutes-per-hour for on-demand viewing (not linear TV mind you) to just two.
Plus, FX has been heavily promoted its own ad-free streaming subscription offering of late.
"All we are trying to do is get more efficient with consumers' time," he said. He urged other companies to follow suit.
"When you go home at night, I want to make sure that the Netflix show and the Fox show are comparable to you, and that advertising isn't changing your mind one way or another."
The world could see severe, catastrophic effects of climate change far sooner than anticipated, according to a new report by the Intergovernmental Panel on Climate Change (IPCC).
And we're running out of time to thwart it.
The goal of the global Paris climate agreement, which was signed in 2015, was to keep the world's temperature from rising more than 2 degrees Celsius over pre-industrial times. To do that, nations agreed to cut their emissions of heat-trapping greenhouse gases.
But the agreement's more ambitious goal was to prevent temperatures from rising more than 1.5 degrees C. That's because even 1.5 degrees of warming will cause catastrophic effects, including more intense storms, searing heat waves, mass extinctions, and droughts. If we hit 2 degrees of warming, the effects will be even worse.
According to the new report, we're already close to blowing past those thresholds, into temperature zones that will have devastating consequences. We're expected to hit that 1.5-degree mark around 2040. By 2100, we're on track to see more than 3 C above pre-industrial levels.
It's still possible to prevent the world from warming more than 1.5 C, the authors of the report said. To do that, we'd have to cut greenhouse gas emissions by 45% by 2030 compared to what they were in 2010. Then by 2050, we'd have to reduce emissions to zero.
Doing that would require an immediate, massive, coordinated transformation of the global economic system — especially the energy system.
What this new report means
When countries signed the Paris agreement, the consequences of a 1.5-degree temperature rise weren't very clear, IPCC chair Hoesung Lee said at a press conference.
But we now have a better idea of how bad 1.5 degrees C of warming looks, since we've already heated the world by about 1 degree Celsius over pre-industrial levels by sending greenhouse gases like carbon dioxide into the atmosphere.
Half a degree more (about .9 F) might sound small. But that number is an average of temperatures all over the globe, so some places will become significantly hotter. The Arctic, for example, is likely to be several degrees warmer, increasing ice melt and sea level rise.
That half of a degree will make drought-prone regions much more likely to experience severe drought, and areas prone to heat waves or intense hurricanes will get more of those disasters, too. These factors could trigger huge migrations of people and mass extinctions of animals. Most coral reefs will die, which could trigger rippling effects throughout the oceans.
The new report says we'll see those effects in just over 20 years unless major changes are implemented.
What happens if we get all the way to 2 C or beyond
The Trump administration's plan to withdraw from the Paris agreement and eliminate regulations designed to lower emissions will almost certainly fuel more warming.
If the world sees 2 degrees C of warming, ice sheet collapse in Antarctica becomes far more likely. Sea levels would be at least 10 centimeters higher by the end of the century at 2 degrees than they would be with 1.5 degrees. Collapse of coral reefs would be essentially ensured. The Arctic, which would be ice-free about once per century at 1.5 degrees of temperature rise, would be ice-free once per decade at 2 degrees.
"Every extra bit of warming matters, especially since warming of 1.5 C or higher increases the risk associated with long-lasting or irreversible changes, such as the loss of some ecosystems," said Hans-Otto Pörtner, co-chair of one of the IPCC groups, in a news release.
These effects will make certain parts of the world less habitable for humans. Coastal cities like Miami or New York will have to adapt or abandon part or all of their territory. And for the millions of people who live in nations that are particularly vulnerable to warmer temperatures, significant societal disruption and migration are likely.
At 2 degrees C, we'd expect "disproportionately rapid evacuation from the tropics," according to the report.
There are financial estimates of the damage, too. Damage from 1.5 degrees of warming is estimated to be about $54 trillion, a number that rises to $69 trillion for 2 C temperature rise.
As climatologist Michael Mann told National Geographic, the more we can to prevent this temperature rise, the better. "The further we go the more explosions we are likely to set off: 1.5C is safer than 2C, 2C is safer than 2.5C, 2.5C is safer than 3C, and so on," he said.
Theoretically, technologies that suck carbon out of the air and allow us to bury it underground could help — and will be needed. But right now, they aren't cost-effective or efficient enough.
Scientists have been sounding the alarm on climate change for decades, yet global emissions are expected to rise again in 2018. This latest report shows that the need for action is more urgent than ever.
President Donald Trump said he likes Taylor Swift's music "about 25% less" now that she's endorsed two Democratic candidates running in her home state of Tennessee ahead of the November midterm elections.
Swift shared her endorsement with her 112 million followers on Instagram Sunday night. It's the first time she publicly revealed her political leanings.
In the post, the Grammy-winning musician said she "cannot support" Republican Rep. Marsha Blackburn of Tennessee, who is running for Senate, saying the congresswoman's beliefs were not consistent "not MY Tennessee values."
"Her voting record in Congress appalls and terrifies me," Swift said.
The singer said she would support former Democratic Gov. Phil Bredesen and Democratic Rep. Jim Cooper instead.
"In the past I've been reluctant to publicly voice my political opinions, but due to several events in my life and in the world in the past two years, I feel very differently about that now," Swift said.
After being asked for his thoughts on Swift "jumping into politics" at the White House on Monday, Trump defended Blackburn, calling her "a tremendous woman."
"I'm sure Taylor Swift has nothing or doesn't know anything about her," Trump said, adding that "Blackburn is doing a very good job in Tennessee." The president has endorsed Blackburn in the race to replace the retiring Sen. Bob Corker.
Turning back to Swift, Trump said: "And let's say that I like Taylor's music about 25% less now, OK?"
NOW WATCH: Inside the Trump 'MAGA' hat factory
A Saudi Arabian journalist is missing and Turkish authorities believe he was brutally murdered in the Saudi Consulate in Istanbul.
Jamal Khashoggi, 59, a Saudi reporter who's often been critical of the Saudi Arabian government, entered the consulate last Tuesday to obtain documents necessary to marry his Turkish fiance, Hatice Cengiz.
Cengiz reportedly waited for Khashoggi outside of the consulate for roughly 11 hours, but said he never came out. Khashoggi is now feared dead, but his fiance on Saturday tweeted, "Jamal is not dead. I cannot believe that he has been killed."
Details surrounding Khashoggi's disappearance remain hazy, but here's what we know so far.
Who is Jamal Khashoggi?
Khashoggi is a prominent journalist who has often been critical of the Saudi Arabian government. He's written for The Washington Post global opinion section.
Karen Attiah, who's Khashoggi's editor at The Post, told CNN on Sunday: "We’re still hoping for the best, but of course this news, if true, has us all completely devastated. This is an attack on us as well at The Washington Post.
"We’re still hoping for the best, but of course this news, if true, has us all completely devastated. This is an attack on us as well at The Washington Post," says @KarenAttiah, Jamal Khashoggi’s editor pic.twitter.com/AAOuKQ8LuT— Reliable Sources (@ReliableSources) October 7, 2018
Khashoggi was at one point an adviser to senior officials in the Saudi government and worked for top news outlets in his native country, and was long seen as close to the ruling elite there.
But last year Khashoggi had a falling-out with the government over Crown Prince Mohammed bin Salman's controversial tactics as he's worked to consolidate his power, which has involved arresting powerful business executives and members of the royal family. Ultimately, this drove Khashoggi to leave Saudi Arabia for the US. Since that time, the reporter has been quite critical of the government and the prince.
In recent months, Khashoggi reportedly told colleagues he feared for his life.
What Saudi Arabia has said about Khashoggi's disappearance
Saudi officials claim Khashoggi left the consulate, but haven't provided any definitive proof.
"Mr. Khashoggi visited the consulate to request paperwork related to his marital status and exited shortly thereafter,"an unnamed Saudi official told The New York Times.
The Saudi Arabian government has vehemently denied allegations the reporter was murdered. Crown Prince Mohammed bin Salman last Wednesday told Bloomberg News that Turkish authorities were welcome to search the consulate, adding, "We have nothing to hide."
The prince also said, "He's a Saudi citizen and we are very keen to know what happened to him. And we will continue our dialogue with the Turkish government to see what happened to Jamal there."
When asked if there were any charges against Khashoggi in Saudi Arabia, the prince said, "Actually, we need to know where Jamal is first."
The Saudi ambassador to the US on Sunday told The Washington Post it would be "impossible" for consulate employees to murder Khashoggi "and we wouldn't know about it."
What Turkey has said about Khashoggi's disappearance
The Turkish government is accusing the Saudis of killing Khashoggi, claiming there's no evidence he ever left the consulate.
Turkish President Recep Tayyip Erdogan on Monday demanded Saudi officials provide proof Khashoggi left the consulate in Istanbul.
"Do you not have cameras and everything of the sort?" Erdogan said of the consulate. "They have all of them. Then why do you not prove this? You need to prove it."
Turkish officials allege the Saudi government sent a 15-man team specifically flown in to Istanbul to murder Khashoggi on the premises of the consulate.
According to The Washington Post, a US official said Turkish investigators believe Khashoggi was probably killed, dismembered, and his body was subsequently placed in boxes and flown out of the country.
Turkey hasn't made any evidence public as of yet.
What the Trump administration has said about Khashoggi's disappearance
The White House's comments on this matter have so far been limited, but President Donald Trump on Monday did tell reporters he's "concerned about it" and said he didn't like it.
The Trump administration has a close relationship with the Saudis and US-Turkey relations have been strained in recent months over the imprisonment of an American pastor, which the president has been critical of. In this context, the White House might be reluctant to get entangled in this controversy.
But Secretary of State Mike Pompeo is reportedly monitoring the situation closely, but the State Department has so far avoided addressing the situation in detail.
The White House and State Department did not immediately respond to requests for comment from Business Insider.
NOW WATCH: Inside the Trump 'MAGA' hat factory
Google dropped out of the competition for a crucial Pentagon cloud computing contract valued at over $10 billion, the company confirms with Business Insider.
The news, which was originally reported by Bloomberg, comes on the same day that the search giant announced the shutdown of the Google+ social network, in the wake of reports of a major security lapse. It also comes just months after Google employees protested en masse over the company's work with the United States military.
This $10 billion cloud contract, called the Joint Enterprise Defense Infrastructure (JEDI), will be awarded to build cloud services for the Department of Defense. Google says it chose not to compete for the contract because it believes this work would conflict with its corporate principles, and because it believes it may not hold all of the necessary certifications.
"While we are working to support the US government with our cloud in many areas, we are not bidding on the JEDI contract because first, we couldn’t be assured that it would align with our AI Principles and second, we determined that there were portions of the contract that were out of scope with our current government certifications," a Google spokesperson said.
Companies competing for the contract must submit their bids by October 12. As only one company will be awarded the contract, Amazon is seen as the frontrunner. Several companies, including Oracle, IBM and Microsoft, were working together to oppose the winner-take-all approach rather than splitting the contract among multiple vendors. Google, in particular, believes it would be in the Pentagon's best interest to allow multiple clouds.
“Had the JEDI contract been open to multiple vendors, we would have submitted a compelling solution for portions of it,” a spokesperson said in a statement. “Google Cloud believes that a multi-cloud approach is in the best interest of government agencies, because it allows them to choose the right cloud for the right workload.”
Earlier this year, controversy emerged within Google over the company's participation in Project Maven, an effort to build artificial intelligence for the Department of Defense to analyze drone video footage, which could be used to target drone strikes.
In April, more than 4,000 Google employees signed a petition demanding that the company discontinue Project Maven and promise to never “build warfare technology.” Some employees even resigned in protest.
In June, Google said it would not renew the contract once it expired, and that same month, it released a set of principles for its work in AI. According to those principles, Google will not design or deploy AI that can cause harm or injury to people, that can gather information for surveillance that “violates internationally accepted norms,” or that violates international law and human rights principles.
“We will continue to pursue strategic work to help state, local and federal customers modernize their infrastructure and meet their mission critical requirements,” a Google spokesperson said in a statement.
Meanwhile, Google CEO Sundar Pichai recently took meetings in Washington to try to rebuild the company's relationship with the military amid all the employee unrest. The company faces allegations from President Donald Trump and his allies that it biases search results against politically conservative sources.
Regtech solutions seemed to offer the solution to financial institutions' (FIs) compliance woes when they first came to prominence around 24 months ago, gaining support from regulators and investors alike.
However, many of the companies offering these solutions haven't scaled as might have been expected from the initial hype, and have failed to follow the trajectory of firms in other segments of fintech.
This unexpected inertia in the regtech industry is likely to resolve over the next 12-18 months as other factors come into play that shift FIs' approach to regtech solutions, and as the companies offering them evolve. External factors driving this change include regulatory support of regtech solutions, and consultancies offering more help to FIs wanting to sift through solutions. Startups offering regtech solutions will also play a part by partnering with each other, forming industry organizations, and taking advantage of new opportunities.
This report from Business Insider Intelligence, Business Insider's premium research service, provides a brief overview of the current global financial regulatory compliance landscape, and the regtech industry's position within it. It then details the major drivers that will shift the dial on FIs' adoption of regtech over the next 12-18 months, as well as those that will propel startups offering regtech solutions to new heights. Finally, it outlines what impact these drivers will have, and gives insight into what the global regtech industry will look like by 2020.
Here are some of the key takeaways:
In full, the report:
President Donald Trump apologized to Justice Brett Kavanaugh and offered condolences to his family during Kavanaugh's ceremonial swearing-in ceremony on Monday night.
"I would like to begin tonight's proceeding differently than perhaps any other event of such magnitude," Trump said at the White House on Monday. "On behalf of our nation, I want to apologize to Brett and the entire Kavanaugh family for the terrible pain and suffering you have been forced to endure."
Trump was talking about the fallout from multiple sexual misconduct allegations leveled against Kavanaugh during the final weeks of his confirmation hearings in the Senate. The process included dramatic testimony from California university professor Christine Blasey Ford who accused Kavanaugh of sexually assaulting her when they were teenagers in the 1980s.
Ford alleged Kavanaugh was "stumbling drunk" during a small party while the two were in high school when he sexually assaulted her in the 1980s. She claimed he pinned her to a bed, groped her over her clothes, and covered her mouth with his hand when she started to scream.
Following Ford's allegation, at least two more women accused Kavanaugh of sexual misconduct. The FBI launched a weeklong supplemental background investigation into Kavanaugh, and upon seeing the results, Trump and Republican lawmakers claimed Ford's allegations could not be adequately corroborated.
However, critics — including the Ford's attorneys — downplayed the scope of the investigation and claimed that the FBI never followed up with a number of tips from people who reportedly sought to be interviewed by the agency.
"Those who step forward to serve our country deserve a fair and dignified evaluation," Trump added. "Not a campaign of political and personal destruction based on lies and deception. What happened to the Kavanaugh family violates every notion of fairness, decency, and due process."
The Senate confirmed Kavanaugh in a 50-48 vote on Saturday.
Kavanaugh replaces former Justice Anthony Kennedy, who recently sided with conservatives in major cases and retired in July.
"Mr. President, thank you for everything," Kavanaugh said at the ceremony. "I am honored to serve on a Supreme Court."
NOW WATCH: Inside the Trump 'MAGA' hat factory
Microsoft announced late Monday that it would invest an undisclosed amount in the Singapore-based ride-hailing service, Grab, as part of a strategic deal.
The Financial Times reported, citing unnamed sources, that Microsoft's investment totaled around $200 million, although a Grab spokesperson refuted the accuracy of that amount, without clarifying to Business Insider if that amount was too high or too low.
However, the total deal also includes Grab using Microsoft's cloud services, Azure, as the ride-hailing company's "preferred" cloud platform, so the partnership is not simply a cash infusion.
In addition to bringing Grab onto the Azure cloud, the companies will also work together on software projects like real-time translation services and facial recognition that will help passengers and drivers recognize each other.
The investment is Microsoft's first in the Southeast Asia ride-hailing market.
“This partnership signals a deep collaboration with Microsoft on an array of technology projects, including big data and artificial intelligence, that will transform the delivery of everyday services and mobility solutions in Southeast Asia,” Ming Maa, president of Grab, said in a statement.
Microsoft does have a history of investing and partnering with ride-sharing services. The company invested in Uber in 2015 and in 2017, it began working with India's Ola to build a connected-car platform and power in-car entertainment via it's Azure cloud-computing service.
On Friday, Reuters reported that Japan's SoftBank was set to invest around $500 million in Grab in the coming weeks.
Investments from both Microsoft and Softbank would put Grab's total amount raised at $6.7 billion and its valuation “closer to $12 billion,” sources told The Financial Times.
President Donald Trump raised eyebrows during Justice Brett Kavanaugh's swearing-in ceremony when he suggested Kavanaugh was "proven innocent" of the numerous sexual misconduct allegations that nearly upended his confirmation to the Supreme Court.
"Those who step forward to serve our country deserve a fair and dignified evaluation," Trump said, referring to Kavanaugh's vetting process. "Not a campaign of political and personal destruction based on lies and deception. What happened to the Kavanaugh family violates every notion of fairness, decency, and due process."
Trump said "a man or woman, must always be presumed innocent unless, and until proven guilty."
"And with that, I must state that you, sir, under historic scrutiny, were proven innocent."
The FBI investigated a claim made by Christine Blasey Ford, a California university professor who said Kavanaugh sexually assaulted her when they were both in high school. The agency took about a week to interview 10 out of the 11 people who agreed to talk.
The results of that investigation, delivered in a report to the White House and Senate lawmakers last week, led the White House and Republicans on the Judiciary Committee to say there was no evidence to corroborate Ford's claims.
While both Ford and Kavanaugh testified about the allegations in front of the committee on September 27, the proceeding was not a trial, and no verdicts were rendered.
But critics, including Democratic lawmakers and Ford's attorneys, claimed that the FBI never followed up with potential interviewees and also alleged that the investigation was too narrow in time and scope. Despite the concerns, the Senate Judiciary Committee concluded that "there is no corroboration of the allegations" after receiving the FBI's supplemental report.
"There's nothing in it that we didn't already know," Republican Sen. Chuck Grassley of Iowa, chairman of the Judiciary Committee, said in a statement after receiving the FBI report.
"These uncorroborated accusations have been unequivocally and repeatedly rejected by Judge Kavanaugh, and neither the Judiciary Committee nor the FBI could locate any third parties who can attest to any of the allegations."
The Senate confirmed Kavanaugh in a 50-48 vote on Saturday.
NOW WATCH: Inside the Trump 'MAGA' hat factory
Drew Brees is now the NFL's all-time leading passer, breaking Peyton Manning's record for the most career passing yards with a gorgeous 62-yard touchdown pass to Tre'Quan Smith.
The New Orleans Saints quarterback entered the "Monday Night Football" contest against the Washington Redskins needing 201 yards to pass both Manning and Brett Favre, who was second on the list. Brees needed less than one half to surpass Manning's mark of 71,940 career yards.
The moment came on the first play of a drive. Brees needed 35 yards when he pump-faked and hit a wide-open Smith down the right sideline.
After the play, the game was stopped and Brees celebrated the moment with his teammates and his family on the sideline.
The NFL tweeted out this graphic celebrating the moment.
Brees was mic'd up during the game for ESPN. Here is what breaking the record sounded like.
NOW WATCH: What it takes to be an NFL referee
But the Earth-orbiting spacecraft won't last forever. NASA, the European Space Agency, and other Hubble partners got a sobering reminder of this fact last week, when a vital part called a gyroscope failed.
Hubble's gyros help tell the telescope that it's aimed at the right spot in space. Friday's event marked the third failure of six total gyros that astronauts installed in 2009. So Hubble is left with three such devices — the exact number NASA needs to keep the telescope operating normally.
Following the failure, the 12-ton, school-bus-size observatory went into safe mode, NASA said on Monday. But it's not the end.
"Hubble's instruments still are fully operational and are expected to produce excellent science for years to come," NASA said.
However, the space agency is not yet out of the woods: One of Hubble's three remaining gyros is on the fritz and not functioning reliably.
"We've had some issues with this gyro in the past, and we've got some possible leads on the current problem,"Ken Sembach, director of the Space Telescope Science Institute, which operates Hubble, told Business Insider. "But the thing that's been clear on Hubble is that these gyros all have a mind of their own. I don't think anybody really knows what's going on with it right now."
NASA plans to continue investigating the issue while the telescope is in safe mode, ideally until a fix is found. But it has a pre-planned option if Hubble is limited to two working gyros.
How Hubble's gyroscopes work and why they're so important
Hubble orbits Earth at 17,000 mph and rotates constantly to fixate on a particular object or new region of space.
The spacecraft has no rocket thrusters to orient itself. Instead, internal motors called reaction wheels spin up to provide momentum. The rest of Hubble responds by "pushing" in the opposite direction, causing it to rotate.
If Hubble doesn't know exactly where it's pointing, it'd miss targets and send back blurry pictures.
That's where the gyros come in. Hubble's gyros — ideally, three working at a time — act as an ultra-accurate balancing system that helps the telescope move in the most precise way possible.
Each Hubble gyro is a small cylinder with an internal "float" that spins thousands of times per minute. A special fluid helps the float spin effortlessly for more than five years without fail. Two small wires — each finer than a human hair — measure any change in the spin and turn that into an electrical signal.
The signal feeds into computers, which tell the telescope's reaction wheels how and when to move.
"You need the gyros to know where you are in space. Once you know where you are, you can tell the spacecraft to turn this way or that way," a Hubble telescope team member told Business Insider. (He asked to remain anonymous because he wasn't yet permitted by NASA to speak to press about the issue.)
Instruments called fine guidance sensors, which look for fixed patterns of stars in the sky, also help keep Hubble aware of its position. And the telescope has magnetic sensors that provide some orientation data as well. But none of these devices are as great as the gyros, which are among the most accurate and stable ever made, according to NASA.
Hubble's first set of six gyros failed somewhat rapidly — bromine in the liquid ate away at the sensing wires — so NASA astronauts installed six new-and-improved gyros in 2009, dramatically extending Hubble's life.
Still, Sembach said even these newer devices are finicky, fragile, and will eventually fail.
"Everything inside has to be working just right in order for these things to work," he said.
How a 'drunk' gyro might cut into Hubble's future observations
Since NASA retired its space shuttles in 2011, it has not had a spacecraft able to service Hubble and replace the gyros.
So Hubble's three gyros are what's left to work with for the foreseeable future.
"So far, they seem to be doing well, minus this one that's acting drunk," Sembach said, referring to the third and oddly behaving gyro.
If Hubble's engineers can't figure out what's wrong with the "drunk" gyro and fix it with new software, they'll shut it down.
"If the outcome indicates that the gyro is not usable, Hubble will resume science operations in an already defined 'reduced-gyro' mode that uses only one gyro," NASA said. In that case, the agency would also turn off one of the remaining two "good" gyros to prevent wear-and-tear and extend the telescope's lifespan.
That change would amount to a roughly 50% cut in the area of sky Hubble could observe at a given moment. So the telescope would have to wait longer to study certain objects. It'd also be unable to move quickly enough to target surprise objects, such as exploding stars.
"Another potential downside is that observations that require tracking of moving targets (think objects closer than Jupiter) may be difficult to observe since these are normally done under gyro-only control," Sembach said in an email to Business Insider. (A newly discovered comet or a rogue interstellar asteroid might be two examples.)
Running on one gyro instead of three could add up to a 10% hit to the observatory's efficiency, Sembach said, but he added: "overall the science will be very similar (i.e., great!)."
"While reduced-gyro mode offers less sky coverage at any particular time, there is relatively limited impact on the overall scientific capabilities," NASA said.
On the plus side, saving one gyro for later might help Hubble operate well into the era of the James Webb Space Telescope, or JWST, which is NASA's next-generation, infrared-light-sensing observatory. It's scheduled for launch in 2021.
"Hubble is the world's premier astronomical facility, and it will be until JWST is launched," Sembach said. "Even then, it will have capabilities that'd complement JWST."
What will happen to Hubble after it stops working?
Eventually, the telescope will stop working altogether.
"This weekend's events remind us the spacecraft is aging, and that it will eventually have an end-state," Sembach said. "NASA and the scientific community will have to address this at some point."
Without some kind of intervention, Hubble is expected to crash to Earth in the mid-2030s. Although it's unlikely Hubble would hit anything after falling from space, NASA and its partners have committed to make sure Hubble doesn't pose any threat.
To that end, astronauts who serviced the telescope in 2009 screwed on a grappling fixture. This allows for a spacecraft to dock with Hubble, giving NASA a variety of options to deal with its observatory.
"You could grab it and de-orbit in the Pacific Ocean, because you don't want it hitting an inhabited area," Sembach said.
If that's the case, NASA would likely target the most remote region of the Pacific, a zone sometimes called "Point Nemo" or the "spacecraft cemetery."
Another option is for an uncrewed spacecraft to boost Hubble to a very high and stable orbit above Earth, where it would likely remain for thousands of years.
"Or you could potentially go back and service the thing," Sembach said. "Right now that's not possible, but maybe in 10 years. Who knows?"
There is a fourth (more radical) option: A large, next-generation commercial vehicle, such as a modified spaceship of SpaceX's upcoming Big Falcon Rocket system, could capture Hubble and bring it back to Earth for display in a museum.
"I would not be opposed to that," Sembach said.
Spider-Man actor Tom Holland is known for being the Marvel Cinematic Universe's most notorious spoiler, but Mark Ruffalo, who plays Bruce Banner/Hulk, is giving him a run for his money.
During Friday's "The Tonight Show starring Jimmy Fallon," Ruffalo may have revealed the title of next year's "Avengers: Infinity War" sequel. The fourth "Avengers" film's title has been shrouded in secrecy, but Fallon convinced Ruffalo to spill the beans — or did he?
The potential title was bleeped out on air, so it's unknown whether Ruffalo actually said the title, or if it was simply a pre-planned bit all in good fun. Considering how secretive the production has been, it's probably the latter. But if what Ruffalo said actually was the movie's title, a fan may have uncovered it through audio-editing software.
Twitter user Anton Volkov tweeted the video on Sunday which reveals that Ruffalo seems to be saying "The Last Avenger."
This might not actually be the real #Avengers4 title BUT: put the audio from the Fallon/Ruffalo interview into Audition and tried removing the bleep using the spectrogram editor.— Anton Volkov (@antovolk) October 7, 2018
THE LAST AVENGER is what was said. pic.twitter.com/vzx23sJBNO
The title makes sense from a thematic standpoint: "Avengers 4" marks a turning point for the MCU, as it will likely focus on other franchises beyond Avengers afterward, according to Disney CEO Bob Iger. And Marvel Studios president Kevin Feige has said that this era of the MCU is "gearing towards a conclusion" with "Avengers 4."
Captain America actor Chris Evans also appears to be leaving the franchise after "Avengers 4," and tweeted a heartfelt farewell to the character last week after he wrapped filming on the movie. "Captain America: The First Avenger" was Evans' debut as the character in 2011, so "Avengers 4" being called "The Last Avenger" would bring his storyline full circle.
It still seems unlikely though that Ruffalo would reveal the title, but he's slipped up before. During an interview nearly a year before the movie came out, Ruffalo revealed that "everybody dies," which is half-true.
Ruffalo chimed in on the debate on Tuesday, tweeting that the title is "Avengers 4: Register to Vote" in response to a fan.
It's Avengers 4: Register to Vote https://t.co/PYLb17NbzP— Mark Ruffalo (@MarkRuffalo) October 9, 2018
"Avengers 4" comes to theaters May 3, 2019.
Watch the full "Tonight Show" clip below:
Less than a month before another round of US sanctions against Iran take effect, analysts say hundred-dollar oil could be on the horizon.
The Trump administration has called on buyers to cut off oil imports from Iran in efforts to pressure the third-largest OPEC producer to change its behavior, a move that could squeeze global supply and pressure prices that are already at four-year highs. Brent, the international benchmark, is currently trading around $85 a barrel.
"Higher oil prices seem inevitable and, in our view, $100 per barrel is easily within reach," economists from Bank of America Merrill Lynch wrote in a recent research note, citing a looming dropoff in Iranian production.
Iran's crude exports have fallen more than expected ahead of the sanctions, even as the Islamic Republic offers Asian customers the cheapest prices in more than a decade versus Saudi grade. According to tanker data compiled by Bloomberg, shipments dropped by just over a quarter million barrels per day in September to their lowest level since 2016.
In hopes of preventing Tehran from moving forward with its nuclear program, European officials have been working to protect Iranian oil sales from US sanctions. But the Trump administration has portrayed those efforts as implausible, threatening to penalize companies that try to circumvent its policy.
"The European Union is strong on rhetoric and weak on follow-through," John Bolton, the national security adviser, said in a conference speech last month. "We do not intend to allow our sanctions to be evaded by Europe or anybody else."
President Donald Trump has looked to other oil producers to pick up the slack ahead of midterm elections, but output disruptions in key OPEC countries present limits. Helima Croft, a former CIA analyst who is now head of commodities research at RBC, said plummeting production in Venezuela and Angola leaves little room to balance other supply risks in Libya, Nigeria and Iraq.
"The countries that can increase are very small in number," she said, adding that there are questions about how long Russia can keep raising output. "It's really only Saudi Arabia at this point."
Following requests from the White House, Riyadh said earlier this year it could increase output by a "measurable amount." While Saudi Arabia accounts for the lion's share of OPEC production, some analysts are skeptical it has enough spare capacity to fill the gap while maintaining adequate reserves.
Trump has repeatedly taken aim at OPEC for rising energy prices, even after it came to a rare agreement to ease production restrictions in June. The 15-member group has been coordinating output levels since 2016 in efforts to tackle a global oil glut.
"We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices!" the president said in a recent tweet. "We will remember. The OPEC monopoly must get prices down now!"
That strategy may have encouraged member countries to increase production in the past, Croft said, but will likely become less effective as the global oil cushion shrinks. Output from the 12 countries bound by the supply-cutting agreement actually fell by 70,000 barrels per day in September, a Reuters survey found.
"With Trump and these tweets, I think there are diminishing returns," she said. "In terms of going forward, we're looking at an ever-shrinking pool of OPEC barrels. You can yell at them. But if they don't have the barrels, they don't have the barrels."
While the administration has said it may grant sanction waivers to avoid supply shocks, a tactic used in the Obama era, it has still maintained an objective of sending Iranian oil exports to zero. The White House did not respond to an email requesting comment.
At $100 a barrel, the Bank of America economists said oil costs would dampen consumer demand not only for gasoline but also for other goods and services. That level of energy prices is expected to shave two basis points from global growth in 2019.
"This is not a major impact, but it isn’t trivial either," they said. "Moreover, with oil supplies so tight any further disruption could mean a major spike in oil prices, creating more nonlinear impacts on confidence and growth."
On Monday, the International Monetary Fund lowered its global economic growth forecast for this year and next. The international lender cited in its report"rising trade barriers and a reversal of capital flows to emerging market economies with weaker fundamentals, and higher political risk."
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