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Media companies want U.S. to force AT&T-Time Warner to share customer data
Wed, 26 Oct 2016 17:23:47 -0400

An AT&T logo is seen at a AT&T building in New York CityNEW YORK/WASHINGTON (Reuters) - Media companies plan to ask U.S. regulators to force AT&T Inc and Time Warner Inc to share their trove of customer data if the telecom and content companies merge, fearing the combined behemoth would have an unfair advantage selling targeted mobile advertising, a handful of media executives told Reuters this week. Customer data has become a key to the media industry's future as TV networks strive to provide the same kind of advertising as digital companies like Alphabet's Google and Facebook Inc , which tailor pitches according to what they know about their customers. AT&T's proposed $85 billion acquisition of Time Warner would give the media company's networks, such as HBO, Cinemax and Turner, potentially unprecedented data about viewers who have AT&T cell phones and DirecTV accounts.

Microsoft launches first desktop, Windows update with 3D features
Wed, 26 Oct 2016 16:05:44 -0400

Panos Panay holds new Microsoft Surface Studio computer at Microsoft's live event in New YorkMicrosoft Corp on Wednesday unveiled its first-ever desktop computer and a free update to its Windows operating system that allows edits using 3D simulations, in hopes of reinvigorating its computing business. The Windows 10 Creators Update, coming in early 2017, lets mobile devices scan an object on all sides so it can rotate 360 degrees in a photograph. It also allows for three-dimensional graphics in Microsoft's popular PowerPoint presentation software, and a new "Paint 3D" application allows edits in 3D simulations.

Privacy group launches legal challenge against EU-U.S. data pact: sources
Wed, 26 Oct 2016 14:29:09 -0400

A Microsoft delegate checks applications on a smartphone during the launch of the Windows 10 operating system in Kenya's capital NairobiBy Julia Fioretti and Dustin Volz BRUSSELS/WASHINGTON (Reuters) - A widely expected legal challenge has been filed by an Irish privacy advocacy group to an EU-U.S. commercial data transfer pact underpinning billions of dollars of trade in digital services just two months after it came into force, sources said. The EU-U.S. Privacy Shield was agreed earlier this year after the European Union's highest court struck down the previous such framework for transferring Europeans' private data to the United States on concerns about intrusive U.S. surveillance. Digital Rights Ireland has challenged the adoption of the "Privacy Shield" by the EU executive - which negotiated the pact with Washington - in front of the second-highest EU court, arguing it does not contain adequate privacy protections, several people familiar with the matter said on Wednesday.

Verizon executive says company needs more information about Yahoo hack
Wed, 26 Oct 2016 13:54:13 -0400

Marni Walden EVP president of product and new business innovation at Verizon speaks at the WSJD Live conference in Laguna BeachA Verizon Communications Inc executive said the acquisition of Yahoo Inc still makes sense, but the telecommunications company needs more information about the email provider's massive breach of accounts. Speaking at a tech conference hosted by the Wall Street Journal in Laguna Beach, California, Marni Walden, an executive vice president at Verizon, said on Wednesday Yahoo is investigating the 2014 data breach and that she hopes to resolve any questions related to the incident in 60 days. “I’ve got an obligation to make sure that we protect our shareholders and our investors, so we’re not going to jump off a cliff blindly,” said Walden, who is also Verizon’s president of Product Innovation and New Businesses.

Google halts Fiber rollout in some U.S. cities
Wed, 26 Oct 2016 13:00:04 -0400

A technician gets cabling out of his truck to install Google Fiber in a residential home in Provo(Reuters) - Alphabet Inc is halting the rollout of its much-talked about high-speed internet service, Google Fiber, in some cities in the United States. The company's Google Access division, which provides the service, said its chief executive, Craig Barratt, would step down but stay on as an adviser. Google had been expanding the service, which promises Internet speeds of up to 1,000 megabits per second, in several cities in the United States.

U.S. to secure guilty plea in case tied to JPMorgan hack probe
Wed, 26 Oct 2016 12:39:29 -0400

JP Morgan Chase & Co. corporate headquarters in New YorkBy Nate Raymond NEW YORK (Reuters) - U.S. prosecutors are expected to obtain their second guilty plea in a case related to what they say was an illegal bitcoin exchange owned by an Israeli behind a series of hacking attacks on organizations such as JPMorgan Chase & Co. Prosecutors in a letter filed in Manhattan federal court said Michael Murgio of Florida will plead guilty on Thursday after being charged for participating in a scheme to pay bribes to let the bitcoin exchange's operators gain control of a credit union. Under a plea agreement, Murgio has agreed to plead guilty to a single count of making a false statement to the U.S. National Credit Union Administration, said Stuart Kaplan, his lawyer said on Wednesday. Murgio was added as a defendant in April in a case against others including his son Anthony Murgio, who prosecutors say operated the unlicensed bitcoin exchange, Coin.mx, and was involved in the bribe scheme.

Internet revenue now tops TV for Canada cable, telecom industry
Wed, 26 Oct 2016 12:29:52 -0400

By Alastair Sharp TORONTO (Reuters) - Canadians for the first time are spending more on internet access than television subscriptions from the country's telecom and cable companies, the industry regulator said on Wednesday, citing soaring demand for streaming video and music services. Telecom and cable companies brought in a total of C$8.92 billion ($6.7 billion) in revenue from cable, satellite and Internet-enabled television subscriptions in 2015, while they collected C$9.81 billion from the supply of internet connections, the Canadian Radio-television and Telecommunications Commission (CRTC) said in its annual report on the industry. Appetite for music and video streaming and other data-intensive activities led to a 44 percent jump in wireless data usage in 2015 compared to 2014, and a 40 percent jump in the volume of data used in the home, the CRTC said.

EU states agree caps on wholesale roaming charges
Wed, 26 Oct 2016 09:09:52 -0400

A man makes a phone call using his mobile phone at the Trocadero Square near the Eiffel Tower in ParisBy Julia Fioretti BRUSSELS (Reuters) - EU states agreed a preliminary compromise on Wednesday on lowering the caps for how much mobile telecoms operators can charge each other to keep their customers connected while abroad, easing concerns that a flagship EU policy to end retail roaming fees could backfire. Anxious to revive support for the European Union amid a surge in nationalism of the kind that saw Britain vote to quit the bloc, the EU has trumpeted a scheme that will end the unpopular practice of operators charging additional fees when people make calls or use the Internet in other EU countries. EU envoys backed a proposal by Slovakia, which holds the rotating EU presidency, to set a glide path for wholesale roaming data charges that will see them capped at 1 euro cent per megabyte -- 10 euros per gigabyte -- in June and decreasing to 0.5 euro cent per megabyte from June 2021, a spokeswoman for Slovakia said.

China bars taking Samsung Galaxy Note 7 onboard flights from October 27
Wed, 26 Oct 2016 03:52:40 -0400

Workers take a billboard of Samsung Electronics' Galaxy Note 7 off from atop a building in central SeoulBEIJING (Reuters) - The Civil Aviation Administration of China (CAAC) said on Wednesday that it will not allow Samsung Galaxy Note 7 phones to be taken on board flights from Oct. 27. The CAAC has said that it would outlaw the use and charging of Samsung Galaxy Note 7 phones aboard flights from September 14. (Reporting by Beijing Monitoring Desk; Editing by Himani Sarkar)

Women lawmakers face sexism, violence on job: report
Wed, 26 Oct 2016 03:04:09 -0400

By Stephanie Nebehay GENEVA (Reuters) - Women members of parliament (MPs) in all regions face sexism, harassment and violence from male lawmakers and are increasingly targeted by online humiliation campaigns, a report said on Wednesday. Sexist violence and harassment against women lawmakers is "real and widespread", the report said. The findings suggested "that the phenomenon knows no boundaries and exists to different degrees in every country, affecting a significant number of women parliamentarians".

Pop singer Timberlake will not be investigated for ballot selfie
Tue, 25 Oct 2016 20:32:08 -0400

Cast member Timberlake poses at the premiere of "Trolls" in Los AngelesHours after Tennessee authorities said on Tuesday they were investigating pop star Justin Timberlake for posting a photo of himself in a polling station on social media, the local district attorney said no such probe was under way. "The statement released earlier today by my office regarding Justin Timberlake and an investigation was incorrect and was released without my knowledge," Shelby County District Attorney General Amy Weirich said. A representative for Timberlake did not respond to requests for comment.

Blockchain start-ups pair up on currency processing platform
Tue, 25 Oct 2016 19:05:33 -0400

By Jemima Kelly LONDON (Reuters) - Two London-based start-ups have joined forces on a platform to process currency trades with blockchain technology, in an effort to cut settlement times and costs in the $5 trillion-a-day (4.10 trillion pounds) global foreign exchange market. Cobalt DL, fronted by former Citi and Deutsche Bank currencies supremo Andy Coyne and backed by 15 major foreign exchange market participants, is partnering with fellow London-based firm SETL, which says it can settle transactions via the blockchain almost instantly. In contrast, the current foreign exchange market requires multiple records to be created for buyer, seller, broker, clearer and third parties in currency trades, and then reconciliation across multiple systems.

Yahoo scanning order unlikely to be made public: sources
Tue, 25 Oct 2016 17:10:43 -0400

File photo of a man walking past a Yahoo logo during the Mobile World Congress in BarcelonaBy Joseph Menn, Dustin Volz and Mark Hosenball WASHINGTON (Reuters) - Obama administration officials briefed key congressional staffers last week about a secret court order to Yahoo Inc that prompted it to search all users’ incoming emails for a still undisclosed digital signature, but they remain reluctant to discuss the unusual case with a broader audience. Executive branch officials spoke to staff for members of the Senate and House of Representatives committees overseeing intelligence operations and the judiciary, according to people briefed on the events, which followed Reuters’ disclosure of the massive search.[nL2N1C601L] But attempts by other members of Congress and civil society groups to learn more about the Yahoo order are unlikely to meet with success anytime soon, because its details remain a sensitive national security matter, U.S. officials told Reuters.

AT&T aims to break from streaming crowd with Time Warner
Tue, 25 Oct 2016 17:08:54 -0400

Ticker and trading information for telecoms company AT&T are displayed at the post where it is traded on the floor of the NYSEBy Lisa Richwine LOS ANGELES (Reuters) - AT&T is betting its purchase of Time Warner Inc will give the company an edge in winning subscribers for its live internet television package, a new front in media that is about to become crowded by technology players. The DirecTV Now service coming to the market next month will offer the kind of live programming on multiple channels now available primarily through traditional cable providers. DirecTV's price will be in the middle, at $35 a month for more than 100 channels, AT&T Chief Executive Randall Stephenson said on Tuesday.

Pop singer Timberlake under investigation for Tennessee ballot selfie
Tue, 25 Oct 2016 16:29:36 -0400

Cast member Timberlake poses at the premiere of "Trolls" in Los AngelesPop star Justin Timberlake may have run afoul of Tennessee election law when he posted a photo of himself in a polling station on social media, authorities said on Tuesday, the latest controversy over so-called ballot selfies. Timberlake, 35, posted the photo on Monday and said in the caption that he had traveled from Los Angeles to his hometown of Memphis to take part in early voting ahead of the Nov. 8 election. "Get out and VOTE! #exerciseyourrighttovote," Timberlake said in part of the photo's caption, which was posted on Instagram, a social media site where he has over 37 million followers.

Internet laggard Cuba plans to bring web to Havana homes by year-end
Tue, 25 Oct 2016 16:04:12 -0400

A tourist takes a selfie at Prado Boulevard in downtown Havana, CubaCuba, a few decades late to the internet era, plans to bring the web into some households in Havana by the end of the year, the Cuban News Agency (ACN) reported on Tuesday. Communist-ruled Cuba has one of the lowest Internet penetration rates in the world. The rest of Cuba's 11.2 million inhabitants must rely on Wi-Fi hotspots around the island and state internet parlors, although these are sparsely used because of high rates.

AT&T's DirecTV Now online video service to cost $35 per month
Tue, 25 Oct 2016 14:23:20 -0400

The signage for an AT&T store is seen in New YorkNEW YORK (Reuters) - AT&T Inc's upcoming DirecTV Now online video service will cost $35 per month, Chief Executive Randall Stephenson said, speaking at the WSJ.D Live conference in California on Tuesday. The wireless company's streaming video service, which will launch late next month, will have more than 100 channels, Stephenson said. AT&T said on Saturday that it would buy Time Warner Inc for $85.4 billion, as it looks to diversify its business into the media and entertainment market. (Reporting by Malathi Nayak; Editing by Jonathan Oatis)

Singapore telecoms group StarHub says hit by cyber attacks
Tue, 25 Oct 2016 12:04:19 -0400

Singapore telecom operator StarHub Ltd said on Tuesday intentional cyber attacks had caused web connection disruptions for some of its home broadband customers on October 22 and October 24. The company said it analyzed network logs of the disruptions and found that it had experienced intentional and likely malicious distributed denial-of-service attacks on its domain name servers. StarHub said there was no evidence of any impact on the rest of its services, and the security of its customers' information was not compromised.

From a shack to parliament, Kenya's slum MP pushes pro-poor agenda
Tue, 25 Oct 2016 08:31:11 -0400

Kibera constituency's first parliamentarian, Kenneth Okoth, speaks during an interview with the Thomson Reuters Foundation in Kenya's capital NairobiBy Katy Migiro NAIROBI (Thomson Reuters Foundation) - With human waste from a burst sewer oozing down the main street of Kenya's largest slum, annoyed residents have been bombarding the Facebook page of Kibera constituency's first parliamentarian, Kenneth Okoth, with insults. "It's just been: 'Ken Okoth is good for nothing. Okoth has phoned and sent photographs of the filth to Nairobi City Water and Sewerage Company and Nairobi's governor, who is in charge of sewerage services, without response.

Netflix CEO gives conditional approval of AT&T-Time Warner deal
Tue, 25 Oct 2016 00:32:41 -0400

Reed Hastings, co-founder and CEO of Netflix, speaks during the opening night of the WSJD Live conference in Laguna BeachNetflix Chief Executive Reed Hastings said he was in favor of AT&T Inc's planned $85.4 billion acquisition of Time Warner Inc, provided that his popular media streaming company continued to be treated fairly. Speaking at a technology conference hosted by the Wall Street Journal in Laguna Beach, Calif., Hastings said it was critical that Netflix's content be treated the same as Time Warner's once the deal takes effect.

Gadgets in decline as R&D shifts to software and services -study
Mon, 24 Oct 2016 19:02:05 -0400

By Eric Auchard FRANKFURT (Reuters) - Research and development spending by the world's biggest companies is accelerating into software and services while investment in physical products is falling sharply, an annual study by consulting firm PwC has found. The study is both a reflection of current spending priorities by the top 1,000 companies in North America, Europe, Japan, China and the rest of the world, but also a benchmark against which many firms will judge their future growth plans. The 2016 Global Innovation 1000 Study released on Monday by PwC's "Strategy&" unit found that by 2018, the healthcare industry will overtake computer and electronic hardware as the top R&D sector, spending $165 billion versus $159 billion.

U.S. banks add pieces to new instant payments network
Mon, 24 Oct 2016 16:45:51 -0400

By the end of December some U.S. bank customers may begin to notice features of the new Zelle instant payments network appearing on their mobile phone and online banking apps as the financial industry tries to catch up with technology company rivals, such as Venmo. Paul Finch, chief executive of the bank network operator, Early Warning Services, said during the weekend that buttons on user screens for digital payments at some banks will gradually start to use a uniform procedure for individuals to send and receive money. "This is about creating a wide, and inclusive, alternative to cash and checks for everyone," said Finch, who was at the Money 20/20 payments industry conference in Las Vegas to promote Zelle for its bank owners.

Credit-card issuer Synchrony Financial joins blockchain group
Mon, 24 Oct 2016 14:39:11 -0400

(Reuters) - Synchrony Financial said on Monday its has joined R3, a group of companies working on blockchain technology, making it the first credit-card issuer to join the consortium. Blockchain is a web-based transaction-processing and settlement system whose efficiency banks say could slash costs. The first cross-border transaction between banks using multiple blockchain applications took place on Monday, Commonwealth Bank of Australia and Wells Fargo & Co said, resulting in a shipment of cotton to China from the United States.

U.S. robots defeat Australian counterparts in soccer
Mon, 24 Oct 2016 14:28:11 -0400

By Joseph Campbell BEIJING (Reuters) - An American team of robots defeated an Australian rival in soccer on Monday to win the RoboCup Challenge as technical problems plagued the Australian side. The University of Texas at Austin's Austin Villa beat the University of New South Wales' Runswift 7-3 during China's 2016 World Robot Conference UNSW's Jeremy Collette bemoaned the glitches that hampered Runswift.

Deadline extended for Google to respond to EU's AdSense complaint
Mon, 24 Oct 2016 12:55:45 -0400

A Google search page is seen through a magnifying glass in this photo illustration taken in BerlinBy Foo Yun Chee BRUSSELS (Reuters) - Alphabet unit Google has been given an extra week to formally respond to allegations by the European Commission that it was blocking rivals in online search advertising, a move likely to delay a regulatory decision on the case until next year. The deadline has been extended to Nov. 3 from Oct. 26, European Commission spokesman Ricardo Cardoso said, making it the second extension. "Google asked for additional time to review the documents in the case file.

U.S. banking group forms unit aimed at reducing cyber risk
Mon, 24 Oct 2016 11:35:56 -0400

A padlock is displayed at the Alert Logic booth during the 2016 Black Hat cyber-security conference in Las Vegas(Reuters) - The Financial Services Information Sharing and Analysis Center (FS-ISAC), an influential U.S. financial industry group, said on Monday it had formed a unit to enhance collaboration among its members and the U.S. government as a way to help reduce cyber security threats to the financial system.

British lawmakers ask Obama to let hacking suspect face trial in UK
Mon, 24 Oct 2016 05:21:03 -0400

File photo of Lauri Love reacting as he leaves after attending his extradition hearing at Westminster Magistrates' Court in LondonA group of 105 British members of parliament (MPs) have asked President Barack Obama to withdraw a warrant for the extradition of an autistic Briton who is accused of hacking high-security U.S. state computers. Lauri Love, 31, who has Asperger's syndrome, is accused of involvement in a series of hacks in 2012 and 2013 into computers at agencies including the Federal Bureau of Investigation, the U.S. army, the Missile Defense Agency and the Federal Reserve. A London court approved his extradition in September despite warnings from his family, lawyers and supporters that he would be at risk of killing himself if sentenced to a lifetime in a U.S. prison.

Companies urged to use multiple vendors in wake of cyber attack
Sun, 23 Oct 2016 21:40:37 -0400

A lock icon, signifying an encrypted Internet connection, is seen on an Internet Explorer browser in ParisCompanies can reduce the risk from the type of cyber attack that took out major websites on Friday by using multiple vendors for the critical internet service known as a domain name service, or DNS, companies and security experts said on Sunday. "We have advocated for years for redundancy in your infrastructure," said Kyle York, chief strategy officer for Dyn, the New Hampshire DNS provider that was attacked on Friday. York said clients who used multiple servers "saw less of an impact." Using multiple DNS providers can, however, make managing traffic more complicated and costly, experts said.

AT&T-Time Warner may signal start of new media industry consolidation
Sun, 23 Oct 2016 17:39:26 -0400

File photo of the signage for an AT&T store is seen in New YorkWASHINGTON/NEW YORK (Reuters) - The tie-up of AT&T Inc and Time Warner Inc , bringing together one of the country's largest wireless and pay TV providers and cable networks like HBO, CNN and TBS, could kick off a new round of industry consolidation amid massive changes in how people watch TV. Discovery Communications Inc gained 3.6 percent, AMC Networks Inc rose 3.9 percent and Scripps Networks Interactive Inc jumped 5.6 percent. Media content companies are having an increasingly difficult time as standalone entities, creating an opportunity for telecom, satellite and cable providers to make acquisitions, analysts say.

Huge crowd of mourning Thais sings royal anthem in honor of late king
Sat, 22 Oct 2016 13:23:12 -0400

Mourners hold candles as they gather outside of the Grand Palace to sing for a recording of the royal anthem in honour of Thailand's late King Bhumibol Adulyadej in BangkokBy Thanarith Satrusayang and Amy Sawitta Lefevre BANGKOK (Reuters) - A huge crowd of Thais gathered on Saturday outside Bangkok's Grand Palace to sing the royal anthem in honor of King Bhumibol Adulyadej, who died on Oct. 13 after seven decades on the throne. The government has declared a year of mourning for the 88-year old king, who was seen as a father figure for generations of people, and, though a constitutional monarch, a calming influence over the country's often turbulent politics. People dressed in black traveled by bus, boat and on foot to Sanam Luang, a tree-lined open space that has been used for royal cremations outside the river-side Grand Palace, bringing the area to gridlock well before the singing.

Thai junta says Google removing content with royal insults
Sat, 22 Oct 2016 04:46:39 -0400

Google logo adorns entrance of Google Germany headquarters in HamburgThailand’s government met with representatives from Internet giant Google, amid growing calls from Thai hardline royalists to bring those who insult the monarchy to justice, as many Thais look with uncertainty to a future without their revered king. King Bhumibol Adulyadej’s death on Oct. 13 has thrown the country of 67 million into mourning. It has also led to the rise of ultra-royalist vigilante groups who say they will punish anyone perceived to have insulted the monarchy during a highly sensitive time for Thailand.

U.S. agencies probing 'all potential causes' of attack on internet provider Dyn
Fri, 21 Oct 2016 20:06:39 -0400

WASHINGTON (Reuters) - The U.S. Department of Homeland Security is looking into "all potential causes" of an attack on internet infrastructure provider Dyn that caused widespread disruptions, a spokeswoman for the agency said on Friday.

PayPal says some customers unable to make payments due to cyber attack on Dyn
Fri, 21 Oct 2016 20:06:39 -0400

(Reuters) - PayPal Holdings Inc said on Friday that it has experienced some service disruptions due to the cyber attack on Dyn that caused Internet outages for its customers. "This has prevented some of our customers from being able to pay with PayPal in certain regions," said company spokeswoman Amanda Miller. "PayPal was not attacked directly, nor were any of our core services to business impacted in the disruption." (Reporting by Jim Finkle; Editing by David Gregorio)

Russian indicted in U.S. on charges of hacking LinkedIn
Fri, 21 Oct 2016 18:57:42 -0400

The logo for LinkedIn Corporation is shown in Mountain View, California(Reuters) - A federal grand jury in California has indicted a Russian man for hacking computers belonging to LinkedIn Corp , Dropbox and Formspring, the U.S. Justice Department said on Friday. Yevgeniy Nikulin was arrested on Oct. 5 by officials in the Czech Republic and remains in custody in Prague, the Justice Department said in a news release. LinkedIn said at the time of his arrest that it was related to a 2012 breach at the social networking company that may have compromised credentials of 100 million users, prompting a massive password reset operation.

New NYC law, San Francisco lawsuit highlight global risks for Airbnb
Fri, 21 Oct 2016 18:25:41 -0400

Chesky co-founder and CEO of AirBnb attends the Reuters Global Technology Summit in San FranciscoSAN FRANCISCO/BERLIN (Reuters) - Airbnb, the online lodging service that investors now believe is worth $30 billion, faces a reckoning. "Throughout the country, people representing cities have called me to ask what's going on with the litigation," he said.

FBI investigating cause of cyber attacks: law enforcement official
Fri, 21 Oct 2016 17:02:54 -0400

A padlock is displayed at the Alert Logic booth during the 2016 Black Hat cyber-security conference in Las VegasWASHINGTON (Reuters) - The FBI is investigating the cause of cyber attacks on internet infrastructure company Dyn on Friday, which has disrupted access to dozens of websites including PayPal, Twitter and Spotify, a law enforcement official said. (Reporting by Julia Edwards; Writing by Eric Beech; Editing by Eric Walsh)

Samsung placing product images in Youku videos, targeting Chinese viewers
Fri, 21 Oct 2016 16:43:16 -0400

The logo of Samsung Electronic is seen at its headquarters in SeoulBy Malathi Nayak NEW YORK (Reuters) - Advertising technology company Mirriad says it is working with Samsung Electronics Co Ltd and China's video site Youku to market Samsung products to Chinese viewers who are gravitating toward streaming video content. For instance, in the show "Ode to Joy" on Youku, as two characters emerge from an underground escalator in an urban setting, a billboard at the landing bears an ad for Samsung's Galaxy C phone. After the episode was shot and produced, the ad was inserted by Mirriad's technology over a real billboard at the setting.

Fund managers focus on Prime memberships to gauge Amazon rally
Fri, 21 Oct 2016 15:39:15 -0400

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York CityThe strength of Amazon.com Inc's nearly 75 percent rally since February may depend on how many more brown cardboard boxes end up on the doorsteps of U.S. consumers this fall. The share price surge of the internet-based retailer and cloud services company since the market sell-off at the beginning of the year has far outpaced the other so-called FANG stocks of Facebook Inc, Netflix Inc, and Google-parent Alphabet Inc that led the broad U.S. market in 2015. "This stock is priced for perfection, and if they deliver merely perfection it will go down," in the short-term, said Michael Pachter, an analyst at Wedbush Securities in Los Angeles.

New York governor approves new regulations on Airbnb
Fri, 21 Oct 2016 15:27:00 -0400

A 3D printed people's models are seen in front of a displayed Airbnb logo in this illustration(Reuters) - New York Governor Andrew Cuomo approved legislation on Friday that would place new regulations on online home rental companies like Airbnb. Existing New York state law bars most urban apartment-dwellers from renting out their units for less than 30 days if they are not present. The law recently passed by the state legislature would bar even advertising a rental that violates that existing law, which could help regulators crack down on Airbnb itself in addition to the users of its service. Airbnb had previously said it would sue if Cuomo approved the bill. ...

U.S. mall investors set to lose billions as retail gloom deepens
Fri, 21 Oct 2016 06:18:08 -0400

A woman walks by a discount sign at an Abercrombie & Fitch store at a shopping mall in Garden City New YorkNEW YORK (Reuters/IFR) - The dramatic shift to online shopping that has crushed U.S. department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick and mortar emporiums that many Americans no longer visit. Some $128 billion of commercial real estate loans - more than one-quarter of which went to finance malls a decade ago - are due to refinance between now and the end of 2017, according to Morningstar Credit Ratings. Wells Fargo estimates that about $38 billion of these loans were taken out by retailers, bundled into commercial mortgage-backed securities (CMBS) and sold to institutional investors.

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