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Businesses

Paradise Papers Expose Canadian Scalper's Multimillion-Dollar StubHub Scheme (www.cbc.ca) 146

An anonymous reader quotes a report from CBC.ca: When Adele fans went online to buy tickets to the pop superstar's world tour last year, they had no idea what exactly they were up against. An army of tech-savvy resellers that included a little-known Canadian superscalper named Julien Lavallee managed to vacuum up thousands of tickets in a matter of minutes in one of the quickest tour sellouts in history. The many fans who were shut out would have to pay scalpers like Lavallee a steep premium if they still wanted to see their favorite singer. An investigation by CBC/Radio-Canada and the Toronto Star, based in part on documents found in the Paradise Papers, rips the lid off Lavallee's multimillion-dollar operation based out of Quebec and reveals how ticket website StubHub not only enables but rewards industrial-scale scalpers who gouge fans around the world.

Lavallee's name appears over and over in the records, alongside the names of his wife, his father and other friends and family. The records show them somehow buying tickets from different locations around the world at the same time, placing orders from cities like Chicago, Los Angeles, London and Montreal. Lavallee, who got his start in his early 20s reselling hockey and concert tickets while living at home with his parents, now runs an international ticket harvesting operation. Financial records detail $7.9 million in gross sales in 2014 alone. [T]he CBC/Star investigation also discovered a password-protected portal exclusively for StubHub's top sellers who prove they can move more than $50,000 worth of tickets a year. The company offers them special software to upload and manage huge inventories of tickets.
StubHub said in a statement: "StubHub agrees that the use of bots to procure tickets is unfair and anti-consumer. StubHub has always supported anti-bots legislation and encourages policy-makers to look comprehensively at the host of factors that impact a fan's ability to fairly access, buy, resell, or even give away tickets in a competitive ticket market."
Businesses

EA Buys Out a Game Studio After Shutting Another One Down 3 Weeks Ago (arstechnica.com) 57

EA has acquired the video game studio Respawn Entertainment. "The studio, co-founded by former Infinity Ward chiefs and Call of Duty co-creators in the wake of their departure from Activision, has been bought out in a deal whose total value could reach $455 million," reports Ars Technica. "The news by itself may seem odd, considering that EA shut down one of its other wholly owned studios, Visceral Games, only three weeks ago." From the report: A report from Kotaku sheds light on why EA made the move: as a response to another game publisher, Korea's Nexon, making a formal bid to buy Respawn outright. Nexon currently publishes a mobile spinoff of Respawn's Titanfall shooter series. Kotaku, citing sources close to the matter, claims that Nexon had bid to buy the company outright. EA exercised its contractual right to match the offer, Kotaku says, and it ultimately outbid Nexon. Among other things, the buyout preserves Respawn's continued work on an upcoming EA game set in the Star Wars universe; EA currently enjoys an exclusive license to making Star Wars-related video games, and any takeover by another company would have to resolve whether or how such a project would continue in production. Respawn's Star Wars project still does not have a title, a release date, or revealed gameplay footage. Respawn announced its work on an additional, unnamed VR game at Oculus Connect 4 last month; the EA statement says that project will continue apace, as well.
Bitcoin

Bitcoin Drops Over $1,000 In Value Over 48 Hours (reuters.com) 107

sqorbit writes: Bitcoin dropped below $7,000 after hitting an all-time high. After the so-called "fork" was suspended, Bitcoin reached a peak of $7,888 around 1800 GMT on Wednesday before dropping down below $7,000. Some investors appear to be selling in order to buy "Bitcoin Cash" which was a split on August 1st. Bitcoin Cash reached $850.
Encryption

Following Equifax Breach, CEO Doesn't Know If Data Is Encrypted (techtarget.com) 104

An anonymous reader quotes a report from TechTarget: Equifax alerted the public in September 2017 to a massive data breach that exposed the personal and financial information -- including names, birthdays, credit card numbers and Social Security numbers -- of approximately 145 million customers in the United States to hackers. Following the Equifax breach, the former CEO Richard Smith and the current interim CEO Paulino do Rego Barros Jr. were called to testify before the Committee on Commerce, Science, and Transportation this week for a hearing titled "Protecting Consumers in the Era of Major Data Breaches." During the hearing, Sen. Cory Gardner (R-Colo.) questioned Smith and Barros about Equifax's use of -- or lack of -- encryption for customer data at rest. Smith confirmed that the company was not encrypting data at the time of the Equifax breach, and Gardner questioned whether or not that was intentional. "Was the fact that [customer] data remained unencrypted at rest the result of an oversight, or was that a decision that was made to manage that data unencrypted at rest?" Gardner asked Smith. Smith pointed out that encryption at rest is just one method of security, but eventually confirmed that a decision was made to leave customer data unencrypted at rest. "So, a decision was made to leave it unencrypted at rest?" Gardner pushed. "Correct," Smith responded.

Gardner moved on to Barros and asked whether he has implemented encryption for data at rest since he took over the position on Sept. 26. Barros began to answer by saying that Equifax has done a "top-down review" of its security, but Gardner interrupted, saying it was a yes or no question. Barros stumbled again and said it was being reviewed as part of the response process and Gardner pushed again. "Yes or no, does the data remain unencrypted at rest?" "I don't know at this stage," Barros responded. "Senator, if I may. It's my understanding that the entire environment [in] which this criminal attack occurred is much different; it's a more modern environment with multiple layers of security that did not exist before. Encryption is only one of those layers of security," Smith said.

Businesses

Here Comes the World's Biggest Shopping Spree -- Again (bloomberg.com) 38

A reader shares a report: On Nov. 11, China celebrates Singles Day, a holiday dedicated to the nation's unattached. It's also the world's largest shopping festival -- and a bonanza for internet giant Alibaba Group. Up to 500 million consumers will visit sites run by the company searching for discounts on items including Bordeaux wine, UGG boots, SUVs, and high-end Japanese toilets. Citigroup estimates that Alibaba's sales during this year's event could reach 158 billion yuan ($23.8 billion). For Alibaba, Singles Day will also be a demonstration of how far its cloud business has come in eight years. At the peak of activity, Alibaba's servers may be tasked with processing 175,000 transactions a second from its own sites. "It's the day when the largest amount of computing power is needed in China," says He Yunfei, a senior product manager for Alibaba Cloud. [...] Alibaba dominates the Chinese cloud -- in part because local regulators won't issue data center operating licenses to foreign companies, curtailing the China ambitions of Amazon.com and Microsoft, the No. 1 and No. 2 cloud providers globally.
Businesses

Uber Drivers Have Rights on Wages and Time Off, UK Panel Rules (apnews.com) 125

Uber suffered a blow on Friday to its operations in its biggest market outside the United States when a British panel ruled in London rejected the company's argument that its drivers were self employed. The decision, which affirmed a ruling made last year, means that Uber will have to ensure its drivers in Britain are paid a minimum wage and entitled to time off, casting doubt on a common hiring model in the so-called gig economy that relies on workers who do not have a formal contract as permanent employees. From a report: Judge Jennifer Eady rejected Uber's argument that the men were independent contractors, because the drivers had no opportunity to make their own agreements with passengers and the company required them to accept 80 percent of trip requests when they were on duty. The tribunal, Eady wrote in her decision, found "the drivers were integrated into the Uber business of providing transportation services." The ride-hailing service said it has never required drivers in the U.K. to accept 80 percent of the trips offered to them and that drivers make well above the minimum wage. Employment lawyers expect the case to be heard by higher courts as early as next year.
Japan

The Booming Japanese Rent-a-Friend Business (theatlantic.com) 275

An anonymous reader shares a report on The Atlantic which talks about a growing business in Japan wherein you can pay an actor to impersonate your relative, spouse, coworker, or any kind of acquaintance. The reporter has interviewed Ishii Yuichi, CEO of a Family Romance, a company that rents such actors. Yuichi believes that Family Romance, and other companies that provide a similar service can help people cope with unbearable absences or perceived deficiencies in their lives. In an increasingly isolated and entitled society, the chief executive officer predicts the exponential growth of his business and others like it, as a la carte human interaction becomes the new norm. An exchange between Yuichi and the reporter, from the story: Morin: When was your first success?
Yuichi: I played a father for a 12-year-old with a single mother. The girl was bullied because she didn't have a dad, so the mother rented me. I've acted as the girl's father ever since. I am the only real father that she knows.
Morin: And this is ongoing?
Yuichi: Yes, I've been seeing her for eight years. She just graduated high school.
Morin: Does she understand that you're not her real father?
Yuichi: No, the mother hasn't told her.
Morin: How do you think she would feel if she discovered the truth?
Yuichi: I think she would be shocked. If the client never reveals the truth, I must continue the role indefinitely. If the daughter gets married, I have to act as a father in that wedding, and then I have to be the grandfather. So, I always ask every client, "Are you prepared to sustain this lie?" It's the most significant problem our company has.

Encryption

DOJ: Strong Encryption That We Don't Have Access To Is 'Unreasonable' (arstechnica.com) 510

An anonymous reader quotes a report from Ars Technica: Just two days after the FBI said it could not get into the Sutherland Springs shooter's seized iPhone, Politico Pro published a lengthy interview with a top Department of Justice official who has become the "government's unexpected encryption warrior." According to the interview, which was summarized and published in transcript form on Thursday for subscribers of the website, Deputy Attorney General Rod Rosenstein indicated that the showdown between the DOJ and Silicon Valley is quietly intensifying. "We have an ongoing dialogue with a lot of tech companies in a variety of different areas," he told Politico Pro. "There's some areas where they are cooperative with us. But on this particular issue of encryption, the tech companies are moving in the opposite direction. They're moving in favor of more and more warrant-proof encryption." "I want our prosecutors to know that, if there's a case where they believe they have an appropriate need for information and there is a legal avenue to get it, they should not be reluctant to pursue it," Rosenstein said. "I wouldn't say we're searching for a case. I''d say we're receptive, if a case arises, that we would litigate."

In the interview, Rosenstein also said he "favors strong encryption." "I favor strong encryption, because the stronger the encryption, the more secure data is against criminals who are trying to commit fraud," he explained. "And I'm in favor of that, because that means less business for us prosecuting cases of people who have stolen data and hacked into computer networks and done all sorts of damage. So I'm in favor of strong encryption." "This is, obviously, a related issue, but it's distinct, which is, what about cases where people are using electronic media to commit crimes? Having access to those devices is going to be critical to have evidence that we can present in court to prove the crime. I understand why some people merge the issues. I understand that they're related. But I think logically, we have to look at these differently. People want to secure their houses, but they still need to get in and out. Same issue here." He later added that the claim that the "absolutist position" that strong encryption should be by definition, unbreakable, is "unreasonable." "And I think it's necessary to weigh law enforcement equities in appropriate cases against the interest in security," he said.

Youtube

YouTube Says It Will Crack Down On Bizarre Videos Targeting Children (theverge.com) 109

"Earlier this week, a report in The New York Times and a blog post on Medium drew a lot of attention to a world of strange and sometimes disturbing YouTube videos aimed at young children," reports The Verge. "The genre [...] makes use of popular characters from family-friendly entertainment, but it's often created with little care, and can quickly stray from innocent themes to scenes of violence or sexuality." YouTube is cracking down and will now age restrict videos that violate its policy. From the report: The first line of defense for YouTube Kids are algorithmic filters. After that, there is a team of humans that review videos which have been flagged. If a video with recognizable children's characters gets flagged in YouTube's main app, which is much larger than the Kids app, it will be sent to the policy review team. YouTube says it has thousands of people working around the clock in different time zones to review flagged content. If the review finds the video is in violation of the new policy, it will be age restricted, automatically blocking it from traveling to the Kids app. YouTube says it typically takes at least a few days for content to make its way from YouTube proper to YouTube Kids, and the hope is that within that window, users will flag anything potentially disturbing to children. YouTube also has a team of volunteer moderators, which it calls Contributors, looking for inappropriate content. YouTube says it will start training its review team on the new policy and it should be live within a few weeks. Along with filtering content out of the Kids app, the new policy will also tweak who can see these videos on YouTube's main service. Flagged content will be age restricted, and users won't be able to see those videos if they're not logged in on accounts registered to users 18 years or older. All age-gated content is also automatically exempt from advertising. That means this new policy could put a squeeze on the booming business of crafting strange kid's content.
Google

Google Working To Remove MINIX-Based ME From Intel Platforms (tomshardware.com) 181

An anonymous reader quotes a report from Tom's Hardware: Intel's Management Engine (ME) technology is built into almost all modern Intel CPUs. At the Embedded Linux Conference, a Google engineer named Ronald Minnich revealed that the ME is actually running its own entire MINIX OS and that Google is working on removing it. Due to MINIX's presence on every Intel system, the barebones Unix-like OS is the most widely deployed operating system in the world. Intel's ME technology is a hardware-level system within Intel CPUs that consists of closed-source firmware running on a dedicated microprocessor. There isn't much public knowledge of the workings of the ME, especially in its current state. It's not even clear where the hardware is physically located anymore.

What's concerning Google is the complexity of the ME. Public interest in the subject piqued earlier this year when a vulnerability was discovered in Intel's Active Management Technology (AMT), but that's just a software that runs on ME--ME is actually an entire OS. Minnich's presentation touched on his team's discovery that the OS in question is a closed version of the open-source MINIX OS. The real focus, though, is what's in it and the consequences. According the Minnich, that list includes web server capabilities, a file system, drivers for disk and USB access, and, possibly, some hardware DRM-related capabilities. It's not known if all this code is explicitly included for current or future ME capabilities, or if it's because Intel simply saw more potential value in keeping rather than removing it.

Businesses

Monopoly Critics Decry 'Amazon Amendment' (thehill.com) 52

schwit1 shares a report from The Hill: The amendment, Section 801 of the National Defense Authorization Act (NDAA), would help Amazon establish a tight grip on the lucrative, $53 billion government acquisitions market, experts say. The provision, dubbed the "Amazon amendment" by experts, according to an article in The Intercept, would allow for the creation of an online portal that government employees could use to purchase everyday items such as office supplies or furniture. This government-only version of Amazon, which could potentially include a few other websites, would give participating companies direct access to the $53 billion market for government acquisitions of commercial products. "It hands an enormous amount of power over to Amazon," said Stacy Mitchell of the Institute for Local Self-Reliance, a research group that advocates for local businesses. Mitchell said that the provision could allow Amazon to gain a monopoly or duopoly on the profitable world of commercial government purchases, leaving smaller businesses behind and further consolidating the behemoth tech firm's power.

schwit1 adds: "Well, this is a two-edged sword, isn't it? Government spends too much and takes too long to buy its simple office needs, but streamlining that process and cutting costs puts more money in the pocket of Jeff Bezos."

Security

WikiLeaks Starts Releasing Source Code For Alleged CIA Spying Tools (vice.com) 102

An anonymous reader quotes a report from Motherboard: WikiLeaks published new alleged material from the CIA on Thursday, releasing source code from a tool called Hive, which allows its operators to control malware it installed on different devices. WikiLeaks previously released documentation pertaining to the tool, but this is the first time WikiLeaks has released extensive source code for any CIA spying tool. This release is the first in what WikiLeaks founder Julian Assange says is a new series, Vault 8, that will release the code from the CIA hacking tools revealed as part of Vault 7. "This publication will enable investigative journalists, forensic experts and the general public to better identify and understand covert CIA infrastructure components," WikiLeaks said in its press release for Vault 8. "Hive solves a critical problem for the malware operators at the CIA. Even the most sophisticated malware implant on a target computer is useless if there is no way for it to communicate with its operators in a secure manner that does not draw attention." In its release, WikiLeaks said that materials published as part of Vault 8 will "not contain zero-days or similar security vulnerabilities which could be repurposed by others."
Businesses

Qualcomm Eyes Intel With Centriq 2400 Arm Server Chip (eweek.com) 23

Qualcomm is now challenging rival Intel in the rapidly changing data center market. From a report: The company is now selling its long-awaited Centriq 2400 Arm-based server processor that is aimed at the fast-growing cloud market and that Qualcomm officials say beats Intel in such crucial areas as power efficiency and cost. Officials from Arm and its manufacturing partners have for several years talked about pushing the Arm architecture into the data center as an alternative to Intel, and some manufacturers like Cavium and Applied Micro in recent years have rolled out systems-on-a-chip (SoCs) based on the 64-bit Armv8-A design. However, Qualcomm represents the most significant Arm chip maker in terms of scale and resources to challenge Intel, which holds more than 90 percent of the global server chip market. Qualcomm's Centriq chips offer up to 48 single-threaded cores running up to 2.6GHz and are manufactured on Samsung's 10-nanometer FinFET process. The processors sport a bidirectional segmented ring bus with as much as 250G bps of aggregate bandwidth to avoid performance bottlenecks, 512KB of shared L2 cache for every two cores and 60MB of unified L3 cache. There also are six channels of DDR4 memory and support for up to 768GB of total DRAM with 32 PCIe Gen 3 lanes and six PCIe controllers. They also support Arm's TrustZone security technology and hypervisors for virtualization.
Businesses

iPhone X Costs Apple $370 in Materials: IHS Markit (ihsmarkit.com) 120

Engineers at marketing research firm IHS Markit cracked open the base version iPhone X, which Apple is selling at $999, this week. After preliminary physical dissection, the firm estimated that the iPhone X carries a bill of materials of $370. From their findings: With a starting price of $999, the iPhone X is $50 more than the previous most expensive iPhone, the 8 Plus 256 GB. As another point of comparison, Samsung's Galaxy S8 with 64 GB of NAND memory has a BOM of $302 and retails at around $720. "Typically, Apple utilizes a staggered pricing strategy between various models to give consumers a tradeoff between larger and smaller displays and standard and high-density storage," said Wayne Lam, principal analyst for mobile devices and networks at IHS Markit. "With the iPhone X, however, Apple appears to have set an aspirational starting price that suggests its flagship is intended for an even more premium class of smartphones." The teardown of the iPhone X revealed that its IR camera is supplied by Sony/Foxconn while the silicon is provided by ST Microelectronics. The flood illuminator is an IR emitter from Texas Instruments that's assembled on top of an application-specific integrated circuit (ASIC) and single-photon avalanche diode (SPAD) detector from ST Microelectronics. Finisar and Philips manufacture the dot projector. IHS Markit puts the rollup BOM cost for the TrueDepth sensor cluster at $16.70.
AI

Philippine Outsourcing Industry Braces For AI (reuters.com) 44

The outsourcing industry in the Philippines, which has dethroned India as the country with the most call centers in the world, is worried that the rise of artificial intelligence (AI) will eat into the $23 billion sector. From a report: AI-powered translators could dilute the biggest advantage the Philippines has, the wide use of English, an industry meeting was told this week. Other AI applications could take over process-driven jobs. The Philippines' business process outsourcing (BPO) industry is an economic lifeline for the Southeast Asian nation of 100 million people. It employs about 1.15 million people and, along with remittances from overseas workers, remains one of the top two earners of foreign exchange. "I don't think our excellent command of spoken English is going to really be a protection five, 10 years from now. It really will not matter," said Rajneesh Tiwary, chief delivery officer at Sutherland Global Services.
Bitcoin

The Bitcoin Bubble (economist.com) 284

A reader shares an Economist article: More people will trade in Bitcoin and that means more demand, and thus the price should go up. But what is the appeal of Bitcoin? There are really three strands; the limited nature of supply; fears about the long-term value of fiat currencies in an era of quantitative easing; and the appeal of anonymity. The last factor makes Bitcoin appealing to criminals creating this ingenious valuation method for the currency of around $570. These three factors explain why there is some demand for Bitcoin but not the recent surge. The supply details have if anything deteriorated (rival cryptocurrencies are emerging); the criminal community hasn't suddenly risen in size; and there is no sign of general inflation. A possible explanation is the belief that blockchain, the technology that underlines Bitcoin, will be used across the finance industry. But you can create blockchains without having anything to do with Bitcoin; the success of the two aren't inextricably linked. A much more plausible reason for the demand for Bitcoin is that the price is going up rapidly. People are not buying Bitcoin because they intend to use it in their daily lives (Editor's note: the link could be paywalled; alternative source). People are buying Bitcoin because they expect other people to buy it from them at a higher price; the definition of the greater fool theory.
United States

America's 'Retail Apocalypse' Is Really Just Beginning (bloomberg.com) 398

An anonymous reader quotes a report from Bloomberg: The so-called retail apocalypse has become so ingrained in the U.S. that it now has the distinction of its own Wikipedia entry. The industry's response to that kind of doomsday description has included blaming the media for hyping the troubles of a few well-known chains as proof of a systemic meltdown. There is some truth to that. In the U.S., retailers announced more than 3,000 store openings in the first three quarters of this year. But chains also said 6,800 would close. And this comes when there's sky-high consumer confidence, unemployment is historically low and the U.S. economy keeps growing. Those are normally all ingredients for a retail boom, yet more chains are filing for bankruptcy and rated distressed than during the financial crisis. That's caused an increase in the number of delinquent loan payments by malls and shopping centers. The reason isn't as simple as Amazon.com Inc. taking market share or twenty-somethings spending more on experiences than things. The root cause is that many of these long-standing chains are overloaded with debt -- often from leveraged buyouts led by private equity firms. There are billions in borrowings on the balance sheets of troubled retailers, and sustaining that load is only going to become harder -- even for healthy chains. The debt coming due, along with America's over-stored suburbs and the continued gains of online shopping, has all the makings of a disaster. The spillover will likely flow far and wide across the U.S. economy. There will be displaced low-income workers, shrinking local tax bases and investor losses on stocks, bonds and real estate. If today is considered a retail apocalypse, then what's coming next could truly be scary.
Crime

Federal Prosecutors Charge Man With Hiring Hackers To Sabotage Former Employer (apnews.com) 18

According to the Associated Press, federal prosecutors have charged a man with paying computer hackers to sabotage websites affiliated with his former employer. From the report: The FBI says the case represents a growing form of cybercrime in which professional hackers are paid to inflict damage on individuals, businesses and others who rely on digital devices connected to the web. Prosecutors say 46-year-old John Kelsey Gammell hired hackers to bring down Washburn Computer Group in Monticello, but also made monthly payments between July 2015 and September 2016 to damage web networks connected to the Minnesota Judicial Branch, Hennepin County and several banks. The Star Tribune reports Gammell's attorney, Rachel Paulose, has argued her client didn't personally attack Washburn. Paulose has asked a federal magistrate to throw out evidence the FBI obtained from an unnamed researcher because that data could have been obtained by hacking.
Bitcoin

Nearly a Third of Millennials Say They'd Rather Own Bitcoin Than Stocks (bloomberg.com) 312

An anonymous reader quotes a report from Bloomberg: A survey by venture capital firm Blockchain Capital found that about 30 percent of those in the 18-to-34 age range would rather own $1,000 worth of Bitcoin than $1,000 of government bonds or stocks. The study of more than 2,000 people found that 42 percent of millennials are at least somewhat familiar with bitcoin, compared with 15 percent among those ages 65 and up. Bitcoin rose more than 6 percent Wednesday to as much as $7,545, helping to push the value of the total cryptocurrency market above $200 billion for the first time, according to CoinMarketcap. The digital asset has soared more than 600 percent this year, compared with gains of 15 percent for the S&P 500 Index -- which might explain millennials' attraction.
The Internet

Nearly Half of Colorado Counties Have Rejected a Comcast-Backed Law Restricting City-Run Internet (vice.com) 128

bumblebaetuna shares a report from Motherboard: In Tuesday's Coordinated Election, two Colorado counties voted on ballot measures to exempt themselves from a state law prohibiting city-run internet services. Both Eagle County and Boulder County voters approved the measures, bringing the total number of Colorado counties that have rejected the state law to 31 -- nearly half of the state's 64 counties. Senate Bill 152 -- which was lobbied for by Big Telecom -- became law in Colorado in 2005, and prohibits municipalities in the state from providing city-run broadband services.

Some cities prefer to build their own broadband network, which delivers internet like a utility to residents, and is maintained through subscription costs. But ever since SB 152 was enacted, Colorado communities have to first bring forward a ballot measure asking voters to exempt the area from the state law before they can even consider starting a municipal broadband service. So that's what many of them have done. In addition to the 31 counties that have voted to overrule the state restrictions, dozens of municipalities in the state have also passed similar ballot measures. Including cities, towns, and counties, more than 100 communities in Colorado have pushed back against the 12-year-old prohibition, according to the Institute for Local Self Reliance.

AT&T

Justice Department Tells Time Warner It Must Sell CNN Or DirecTV To Approve Its AT&T Merger (nytimes.com) 118

An anonymous reader quotes a report from The New York Times (Warning: source may be paywalled; alternative source): The Justice Department has called on AT&T and Time Warner to sell Turner Broadcasting, the group of cable channels that includes CNN, as a potential requirement for approving the companies' pending $85.4 billion deal, people briefed on the matter said on Wednesday. The other potential way the merger could win approval would be for AT&T to sell its DirecTV division, two of these people added. As originally envisioned, combining AT&T and Time Warner would yield a giant company offering wireless and broadband internet service, DirecTV, the Warner Brothers movie studio and cable channels like HBO and CNN. If the Justice Department formally makes either demand a requisite for approval, AT&T and Time Warner would almost certainly take the matter to court to challenge the government's legal basis for blocking their deal.
The Almighty Buck

The Inside Story of Venture Capital's Messiest Breakup (wired.com) 20

mirandakatz writes: The Xfund started with a bold idea and ended with one of its founders banished from the country. At Backchannel, Jessi Hempel has the definitive story of what really happened after Patrick Chung and Hugo Van Vuuren went into business together, and how a promising venture went so wrong. It's an incredibly complex story, and no one agrees on the basic facts: As Hempel writes, 'What's clear is that from the start, they had clashing visions for what they were building. The tale of Van Vuuren and Chung's partnership and its demise offers a window into how power really works in Silicon Valley, where personal relationships are the most important currency and, in order to protect capital, investors are more likely to place their bets on people they know and trust.'
China

China Spreads Propaganda to U.S. on Facebook, a Platform it Bans at Home (nytimes.com) 103

Paul Mozur, reporting for the New York Times: China does not allow its people to gain access to Facebook, a powerful tool for disseminating information and influencing opinion. As if to demonstrate the platform's effectiveness, outside its borders China uses it to spread state-produced propaganda around the world, including the United States (Editor's note: the link could be paywalled; alternative source). So much do China's government and companies value Facebook that the country is Facebook's biggest advertising market in Asia, even as it is the only major country in the region that blocks the social network. A look at the Facebook pages of China Central Television, the leading state-owned broadcast network better known as CCTV, and Xinhua, China's official news agency, reveals hundreds of English-language posts intended for an English-speaking audience. Each quarter China's government, through its state media agencies, spends hundreds of thousands of dollars to buy Facebook ads, according to a person with knowledge of those deals, who was unauthorized to talk publicly about the company's revenue streams. China's propaganda efforts are in the spotlight with President Trump visiting the country and American lawmakers investigating foreign powers's use of technology to sway voters in the United States.
Bitcoin

2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus (coindesk.com) 50

Alyssa Hertig, writing for CoinDesk: The organizers of a controversial bitcoin scaling proposal are suspending an attempt to increase the block size by way of a software upgrade. Known for its strong early support from bitcoin startups and mining pools, the plan, called Segwit2x, or simply 2x, was to trigger a block size increase at block 494784, expected to occur on or around November 16th. The suspension was announced today in an email, written by Mike Belshe, CEO and co-founder of bitcoin wallet software provider BitGo. One of the leaders of the Segwit2x project, he argued that the scaling proposal is too controversial to move forward. He wrote: "Unfortunately, it is clear that we have not built sufficient consensus for a clean block size upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin's growth. This was never the goal of Segwit2x."
Google

Google Wants Google Doodles Taught In Public School, Warns Kids They Best Behave 146

theodp writes: Well, this year's Hour of Code is almost upon us, and if Google has its way, K-12 schoolchildren across the nation will be learning computer science by creating Google Doodles with Scratch (lesson plan). Curiously, the introductory video for the Create Your Own Google Logo Hour of Code activity from the Google Computer Science Education Department sternly warns kids, "While it is okay to use the Google logo for your personal Doodle, it is not okay [emphasis Google's] to use it anyplace else or outside this activity." In addition to respecting its intellectual property, Google instructs kids that they are to follow the Scratch Community Guidelines when they create Google logos: "Please stay positive, friendly, and supportive towards others in the Scratch Community. Help us keep Scratch a place where people of different backgrounds and interests feel welcome to hang out and create together."
AMD

Raja Koduri, AMD's Radeon Tech Group Leader, Resigns (anandtech.com) 38

Ryan Smith, writing for AnandTech: On the day following what's perhaps one of the greatest (and oddest) product design wins for AMD's Radeon Technologies Group, a second bit of surprising news is coming out of AMD. Raja Koduri, the Senior VP and Chief Architect of the group, who has been its leader since the RTG was formed two years ago, has announced that he is resigning from the company, effective tomorrow. Word of Raja's resignation originally broke via an internal memo penned by Raja and acquired by Hexus. And while AMD will not confirm the validity of the memo, the company is confirming that Raja has decided to leave the company.
Wikipedia

Nearly All of Wikipedia Is Written By Just 1 Percent of Its Editors (vice.com) 224

From a report on Motherboard: According to the results of a recent study that looked at the 250 million edits made on Wikipedia during its first ten years, only about 1 percent of Wikipedia's editors have generated 77 percent of the site's content. "Wikipedia is both an organization and a social movement," Sorin Matei, the director of the Purdue University Data Storytelling Network and lead author of the study, told me on the phone. "The assumption is that it's a creation of the crowd, but this couldn't be further from the truth. Wikipedia wouldn't have been possible without a dedicated leadership." At the time of writing, there are roughly 132,000 registered editors who have been active on Wikipedia in the last month (there are also an unknown number of unregistered Wikipedians who contribute to the site). So statistically speaking, only about 1,300 people are creating over three-quarters of the 600 new articles posted to Wikipedia every day.
Biotech

EPA Approves Release of Bacteria-Carrying Mosquitoes To 20 States (nature.com) 133

schwit1 writes: The U.S. Environmental Protection Agency (EPA) has approved the use of a common bacterium to kill wild mosquitoes that transmit viruses such as dengue, yellow fever and Zika, Nature's news team has learned. On November 3rd, the agency told biotechnology start-up MosquitoMate that it could release the bacterium Wolbachia pipientis into the environment as a tool against the Asian tiger mosquito (Aedes albopictus). Lab-reared mosquitoes will deliver the bacterium to wild mosquito populations. The decision -- which the EPA has not formally announced -- allows the company, which is based in Lexington, Kentucky, to release the bacteria-infected mosquitoes in 20 U.S. states and Washington DC.

MosquitoMate will rear the Wolbachia-infected A. albopictus mosquitoes in its laboratories, and then sort males from females. Then the laboratory males, which don't bite, will be released at treatment sites. When these males mate with wild females, which do not carry the same strain of Wolbachia, the resulting fertilized eggs don't hatch because the paternal chromosomes do not form properly. The company says that over time, as more of the Wolbachia-infected males are released and breed with the wild partners, the pest population of A. albopictus mosquitoes dwindles. Other insects, including other species of mosquito, are not harmed by the practice, says Stephen Dobson, an entomologist at the University of Kentucky in Lexington and founder of MosquitoMate.

Earth

New Technology Should Be Neither Feared Nor Trusted (bloomberg.com) 61

An anonymous reader quotes a report from Bloomberg: How should we think about new and future technologies? The two main stances seem to be extreme optimism and extreme pessimism. A better approach would be careful planning and management. Optimists tend to overlook the fact that the technological successes of the past required a lot of social engineering before their benefits became widely shared. Countries like Maoist China and North Korea implemented perverse economic systems that withheld the bounty of modern technology from most of their citizens. And poor countries didn't really begin to beat poverty until decades after colonialism ended. Pessimists, meanwhile, often assume that new technologies can be stopped in their tracks by act of popular will. They probably can't. Even the most impoverished, repressive regimes of the 20th century adopted new technologies, and often suffered their worst consequences. Scientific research and invention, meanwhile, can be forbidden in one country or another, but probably not at the global level: Someone, somewhere, will study even the scariest ideas.

A better approach, then, is technology management. We should be as realistic as we can about each innovation's potential benefits and dangers. And instead of thinking about how to suppress new technologies, we should think about how to regulate them and channel them toward broad social benefit. Emerging technologies like genetic engineering and artificial intelligence are at our doorstep, and there is no putting the genie back in the bottle. But letting them develop haphazardly entails large risks. Instead, government and industry need to be funding proactive efforts to bring them into widespread, well-regulated use. In the end, technology is what we choose to make of it.

Earth

The US Is Now the Only Country In the World To Reject the Paris Climate Deal 719

An anonymous reader quotes a report from The Verge: Today, Syria announced that it would sign the Paris climate agreement -- a landmark deal that commits almost 200 countries to reducing greenhouse gas emissions to fight global warming. With Nicaragua also joining the deal last month, the United States is now the only country in the world that opposes it. In June, President Donald Trump announced that the U.S. will withdraw from the Paris climate accord, unless it is renegotiated to be "fair" to the United States. But other countries in the deal, such as France, Germany, and Italy, said that's not possible. The Trump administration is also taking steps to roll back regulations passed under former President Barack Obama to achieve the emissions reduction goals set under the Paris deal. The U.S. is the second largest emitter of heat-trapping greenhouse gases in the world after China. "With Syria's decision, the relentless commitment of the global community to deliver on Paris is more evident than ever," Paula Caballero, director of the climate change program at the World Resources Institute, told the Times. "The U.S.'s stark isolation should give Trump reason to reconsider his ill-advised announcement and join the rest of the world in tackling climate change."
Open Source

Apache OpenOffice: We're OK With Not Being Super Cool (theregister.co.uk) 106

The Register's Thomas Claburn, interviews Jim Jagielski, Apache Software Foundation President and Apache OpenOffice project mentor. From the story: Despite being the subject of a deathwatch -- perhaps mainly by fans of rival LibreOffice -- AOO appears to be rather popular, with the 4.1.4 update racking up at least 1.6 million downloads. [...] While AOO and the ASF formulate a formal statement of direction for the project, Jagielski said more or less that all's well. "AOO is not, and isn't designed to be, the 'super coolest open source office suite with all the latest bells and whistles,'" Jagielski continued. "Our research shows that a 'basic,' functional office suite, which is streamlined with a 'simple' and uncluttered, uncomplicated UI, serves an incredible under-represented community. "Other office suites are focusing on the 'power user' which is a valuable market, for sure, but the real power and range for an open-source office suite alternative is the vast majority which is the 'rest of us. Sometimes we all forget how empowering open source is to the entire world."
AI

Andrew Ng Wants a New 'New Deal' To Combat Job Automation (technologyreview.com) 160

Andrew Ng, formerly the head of AI for Chinese search giant Baidu and, before that, creator of Google's deep-learning Brain project, knows as well as anyone that artificial intelligence is coming for plenty of jobs. Speaking at a conference on Tuesday, Ng said he would like to see a "new New Deal" that pays people displaced by technology to study, offering an incentive to learn new skills and reenter the workforce. From a report: Speaking at MIT Technology Review's annual EmTech MIT conference in Cambridge, MA, on Tuesday, Ng said he's visited call centers and spoken to workers, knowing that his teams of software engineers will then write software that will automate aspects of their work. "There are many professions in the crosshairs of AI teams across the world," he said. Ng, who's currently working on a startup called Deeplearning.ai that helps train people on deep-learning technology, has some ideas for helping those in jobs he thinks will be automated, from call-center workers to radiologists, truck drivers, and the like. His suggestion is for an updated version of the New Deal -- the Depression-era economic programs that invested in, among other things, getting unemployed Americans back to work -- that pays displaced workers to learn new job skills.
The Almighty Buck

Someone 'Accidentally' Locked Away $300M Worth of Other People's Ethereum Funds (vice.com) 141

On Tuesday, a single user "permanently" locked down dozens of digital wallets containing nearly $300 million dollars worth of ether, the unit of exchange on the Ethereum platform, allegedly by accident. From a report: Now, some in the Ethereum community are considering the possibility of a risky network split, known as a "hard fork," to fix it. The affected wallets -- known as "multisignature" wallets because they require multiple people to sign off before funds are moved, making them popular with companies -- were all created with Parity, a popular program for digital wallets. Parity multisignature wallets experienced a bug in July that allowed a hacker to steal $32 million in funds before the Ethereum community scrambled to band together to hack back and secure the rest of the vulnerable ether.
News

The Crisis in Local News (axios.com) 118

Sara Fischer, writing for Axios: The economic strains on local news have forced local outlets to close, shutter their print editions or consolidate into major holding groups, often headquartered in far-away cities. Why it matters: "As long as [cuts to local news] continues, the people in power will get away with murder," veteran NYC TV journalist Errol Louis told CNN's Brian Stelter on Sunday. Most recently, billionaire Joe Ricketts' decision to shut down local city coverage site DNAInfo and Gothamist in response to employees voting to unionize has called into question how local news outlets can survive through conflicting business interests of ownership. The cuts are the latest of local coverage setbacks this month. The Houston Press has effectively closed down; The Baltimore City Paper, a 40-year-old publication, published its last issue November 1. Local media continues to have a complicated relationship with technology, because while technology can be blamed for upended news economics, local media companies still rely on it for traffic and resources.
Transportation

Uber Commits $5 Million To Sexual Assault, Domestic Violence Prevention (gizmodo.com) 78

Uber announced on Sunday that it's taking new steps toward preventing sexual assault and domestic violence, starting with a $5 million donation to its partners -- Raliance, National Network to End Domestic Violence, No More, Women of Color Network, Casa de Esperanza, A Call to Men, and The National Coalition of Anti-Violence Programs -- along with an employee training program and in-app messaging to educate riders and drivers. Gizmodo reports: "As a result of this ongoing collaboration we have begun to make important changes internally and will commit to use Uber's scope and visibility to help drive awareness, education, and prevention of sexual assault and domestic violence to millions globally," said Uber's announcement. Uber wrote on its blog that its technology "enhances safety for riders and drivers in ways that weren't possible before such as GPS tracking, the ability to share a trip with family and friends, and 24/7 support through the app." But the company has failed to adopt measures like more rigorous driver background checks, despite urging by lawmakers. The ride-sharing service left Austin altogether last year (along with Lyft) because it refused to fingerprint its drivers. Uber has argued that mandated fingerprinting is too burdensome. Advocates for fingerprinting argue that it helps ensure rider safety.
Earth

Florida Attempts the Largest Hydraulic Restoration Project In the World To Save the Everglades (vice.com) 98

New submitter ar2286 shares a report from Motherboard: Florida is defined by its water -- the water flowing around it, through it, increasingly over it. But throughout the twentieth century, its major arteries of fresh water, which flowed from the Kissimmee River south of Orlando to Lake Okeechobee and down to the swampy Everglades, were permanently rerouted by the federal government and landowners to stop flooding, and make room for agriculture and housing in the southern part of the state. Now the state is working with the Army Corps of Engineers -- the government agency partly responsible for rerouting and draining water to begin with -- and the South Florida Water Management District to attempt the largest hydraulic restoration project in the world. And while some say the effort has turned Florida into a battleground, pitting sugar farmers against legislators and environmentalists, others are hoping this will finally right certain man-made wrongs and restore some balance to the state. If the government is able to fully fund the plan, and should dozens of contractors and state forces successfully carry it out, it could permanently change Florida. And set a precedent for inevitable restoration projects around the world, which are becoming increasingly crucial as climate change manifests in stronger storms and sea level rise. The state is embarking on such a massive restoration project because the aging levees and control gates surrounding Lake Okeechobee are at risk of failing during large storms and/or heavy rainfall. "The more rainwater that increases in Lake Okeechobee, the more pressure is on the lake, and that pressure can continue to build up and build up and build up and one day the levee can go," said Tammy Jackson-Moore, a Belle Glade resident who co-founded Guardians of the Glades, a nonprofit focused on community advocacy. "And we're talking about wiping out entire communities here." The rerouting has allowed for bursts of economic growth, but it does have its consequences. "The Everglades, the largest swath of subtropical wilderness in the country, is now half of its size circa 1920, and the ecosystem has deteriorated, losing wildlife and native flora," reports Motherboard. "Without a natural place to flow, stagnant water pushes toxic algae blooms into the rivers, and turns pristine ocean into sludgy waste."
Piracy

US Court Grants ISPs and Search Engine Blockade of Sci-Hub (torrentfreak.com) 165

Sci-Hub, a scientific research piracy site home to thousands of research papers, has suffered another blow in a U.S. federal court. According to TorrentFreak, "The American Chemical Society has won a default judgment of $4.8 million for alleged copyright infringement against the site. In addition, the publisher was granted an unprecedented injunction which requires search engines and ISPs to block the platform." This comes after a $15 million fine was imposed on Sci-Hub by a New York federal judge earlier this year. From the report: Just before the weekend, U.S. District Judge Leonie Brinkema issued a final decision which is a clear win for ACS. The publisher was awarded the maximum statutory damages of $4.8 million for 32 infringing works, as well as a permanent injunction. The injunction is not limited to domain name registrars and hosting companies, but expands to search engines, ISPs and hosting companies too, who can be ordered to stop linking to or offering services to Sci-Hub. The injunction means that Internet providers, such as Comcast, can be requested to block users from accessing Sci-Hub. That's a big deal since pirate site blockades are not common in the United States. The same is true for search engine blocking of copyright-infringing sites.

"Ordered that any person or entity in active concert or participation with Defendant Sci-Hub and with notice of the injunction, including any Internet search engines, web hosting and Internet service providers, domain name registrars, and domain name registries, cease facilitating access to any or all domain names and websites through which Sci-Hub engages in unlawful access to, use, reproduction, and distribution of ACS's trademarks or copyrighted works," the injunction reads.

Security

Should Private Companies Be Allowed To Hit Back At Hackers? (vice.com) 141

An anonymous reader quotes a report from Motherboard: The former director of the NSA and the U.S. military's cybersecurity branch doesn't believe private companies should be allowed to hit back at hackers. "If it starts a war, you can't have companies starting a war. That's an inherently governmental responsibility, and plus the chances of a company getting it wrong are fairly high," Alexander said during a meeting with a small group of reporters on Monday. During a keynote he gave at a cybersecurity conference in Manhattan, Alexander hit back at defenders of the extremely common, although rarely discussed or acknowledged, practice of revenge hacking, or hack back. During his talk, Alexander said that no company, especially those attacked by nation state hackers, should ever be allowed to try to retaliate on its own.

Using the example of Sony, which was famously hacked by North Korea in late 2014, Alexander said that if Sony had gone after the hackers, it might have prompted them to throw artillery into South Korea once they saw someone attacking them back. "We can give Sony six guys from my old place there," he said, presumably referring to the NSA, "and they'd beat up North Korea like red-headed stepchild -- no pun intended." But that's not a good idea because it could escalate a conflict, and "that's an inherently governmental responsibility. So if Sony can't defend it, the government has to." Instead, Keith argued that the U.S. government should be able to not only hit back at hackers -- as it already does -- but should also have more powers and responsibilities when it comes to stopping hackers before they even get in. Private companies should share more data with the U.S. government to prevent breaches, ha said.

Patents

Apple Wins $120 Million From Samsung In Slide-To-Unlock Patent Battle (theverge.com) 72

Apple has finally claimed victory over Samsung to the count of $120 million. "The Supreme Court said today that it wouldn't hear an appeal of the patent infringement case, first decided in 2014, which has been bouncing through appeals courts in the years since," reports The Verge. From the report: The case revolved around Apple's famous slide-to-unlock patent and, among others, its less-famous quick links patent, which covered software that automatically turned information like a phone number into a tappable link. Samsung was found to have infringed both patents. The ruling was overturned almost two years later, and then reinstated once again less than a year after that. From there, Samsung appealed to the Supreme Court, which is where the case met its end today. Naturally, Samsung isn't pleased with the outcome. "Our argument was supported by many who believed that the Court should hear the case to reinstate fair standards that promote innovation and prevent abuse of the patent system," a Samsung representative said in a statement. The company also said the ruling would let Apple "unjustly profit" from an invalid patent.
Businesses

Paradise Papers Leak Reveals Apple's Secret Tax Bolthole (bbc.com) 174

An anonymous reader quotes a report from BBC: The world's most profitable firm has a secretive new structure that would enable it to continue avoiding billions in taxes, the Paradise Papers show. They reveal how Apple sidestepped a 2013 crackdown on its controversial Irish tax practices by actively shopping around for a tax haven. It then moved the firm holding most of its untaxed offshore cash, now $252 billion, to the Channel Island of Jersey. Apple said the new structure had not lowered its taxes. It said it remained the world's largest taxpayer, paying about $35 billion in corporation tax over the past three years, that it had followed the law and its changes "did not reduce our tax payments in any country."

Leaked emails also make it clear that Apple wanted to keep the move secret. One email sent between senior partners at Appleby says: "For those of you who are not aware, Apple [officials] are extremely sensitive concerning publicity. They also expect the work that is being done for them only to be discussed amongst personnel who need to know." Apple chose Jersey, a UK Crown dependency that makes its own tax laws and which has a 0% corporate tax rate for foreign companies. Paradise Papers documents show Apple's two key Irish subsidiaries, Apple Operations International (AOI), believed to hold most of Apple's massive $252 billion overseas cash hoard, and Apple Sales International (ASI), were managed from Appleby's office in Jersey from the start of 2015 until early 2016. This would have enabled Apple to continue avoiding billions in tax around the world.
The report notes that Apple paid just $1.65 billion in taxes to foreign governments, despite making $44.7 billion outside the U.S. That's a tax rate of 3.7%, which is less than a sixth of the average rate of corporation tax in the world.
Firefox

Popular Firefox Bookmark Syncing Add-On Starts Losing... Bookmarks (bleepingcomputer.com) 67

A popular Firefox browser add-on that saves and syncs bookmarks has started to lose those bookmarks instead, users are complaining. From a report: According to user reports -- and your reporter's own experience -- the problems arose when Xmarks updated the add-on to version 4.5.0.4, the first version to work on the new WebExtensions API, Firefox's new add-on technology. Since then, Firefox users have reported a wide range of problems, but among which the biggest was the fact that Xmarks was not syncing bookmarks as it should. The problems did not manifest the same way for all users. Some users said the add-on stopped syncing new bookmarks altogether, some reported corrupted links, others said they lost all bookmarks, while other reported that only a small portion of new bookmark URLs was being added to their Xmarks account.
Youtube

'Something Is Wrong On the Internet' (medium.com) 365

"Someone or something or some combination of people and things is using YouTube to systematically frighten, traumatize, and abuse children, automatically and at scale, and it forces me to question my own beliefs about the internet, at every level," writes James Bridle. From the article: To begin: Kid's YouTube is definitely and markedly weird. I've been aware of its weirdness for some time. Last year, there were a number of articles posted about the Surprise Egg craze. Surprise Eggs videos depict, often at excruciating length, the process of unwrapping Kinder and other egg toys. That's it, but kids are captivated by them. There are thousands and thousands of these videos and thousands and thousands, if not millions, of children watching them. [...] What I find somewhat disturbing about the proliferation of even (relatively) normal kids videos is the impossibility of determining the degree of automation which is at work here; how to parse out the gap between human and machine. The New York Times, last week: Parents and children have flocked to Google-owned YouTube Kids since it was introduced in early 2015. The app's more than 11 million weekly viewers are drawn in by its seemingly infinite supply of clips, including those from popular shows by Disney and Nickelodeon, and the knowledge that the app is supposed to contain only child-friendly content that has been automatically filtered from the main YouTube site. But the app contains dark corners, too, as videos that are disturbing for children slip past its filters, either by mistake or because bad actors have found ways to fool the YouTube Kids algorithms. In recent months, parents like Ms. Burns have complained that their children have been shown videos with well-known characters in violent or lewd situations and other clips with disturbing imagery, sometimes set to nursery rhymes.
The Internet

Comcast's Xfinity Internet Service Is Down Across the US [Update] (theverge.com) 104

Readers share a report: Comcast's internet service, Xfinity, appears to be suffering an outage across the country. DownDetector.com shows it being down around the United States, including in large cities like San Francisco, Los Angeles, and Boston. So far, online reports don't suggest that TV service or home phones are affected. On Twitter, Comcast confirmed the outage. Adding, "Some customers are having issues with their XFINITY Internet service. We apologize & appreciate your patience while we work to fix." The company tweeted moments ago, "Our teams continue to monitor an external network issue. We apologize for the inconvenience -- will provide updates as we learn more." In another tweet, Comcast said the issue is nationwide.

Update: At 20:39 GMT on Monday, Comcast said it had resolved the issue.
Businesses

Amazon Discounts Other Sellers' Products as Retail Competition Stiffens (reuters.com) 98

Amazon is slashing prices of products from third-party sellers on its website, moving beyond its more typical method of discounts on items it sells directly. From a report: The "discount provided by Amazon" applies to products including board games and technological gadgets offered by other merchants as the holiday season approaches. The retailer has been trying to compete aggressively on some items to win sales and draw customers away from low-priced rivals like Wal-Mart Stores. The move allows Amazon to sell the products at lower prices while still giving full price to the sellers. "When Amazon provides a discount, customers get the products they want at a price they'll love, and small businesses receive increased sales at their listed asking price," an Amazon spokeswoman said in an emailed statement, noting that businesses can opt out at any time.
Businesses

Qualcomm Set To Reject $130bn Bid From Broadcom (ft.com) 29

Tim Bradshaw, reporting for Financial Times: Chipmaker Broadcom officially unveiled a $130bn offer, including net debt, for Qualcomm on Monday, in what could be the largest tech deal in history. Under Broadcom's proposal, Qualcomm shareholders would receive $70 per share -- $60 in cash and $10 in shares of its rival. It would value Qualcomm's equity at roughly $103bn. Qualcomm is set to reject Broadcom's takeover offer (Editor's note: the link could be paywalled; an alternative source wasn't immediately available), as the US chipmaker views its rival's $130bn proposal as too low and fraught with regulatory risks, people familiar with the matter said. The offer represents a 28 per cent premium over Qualcomm's share price on November 2, after it first emerged that Broadcom was preparing an offer. Broadcom also said that its offer stands whether or not Qualcomm completes its $38bn acquisition of NXP, which has yet to close.
United States

The Disappearing American Grad Student (nytimes.com) 268

There are two very different pictures of the students roaming the hallways and labs at New York University's Tandon School of Engineering. At the undergraduate level, 80 percent of the students are United States residents. But that number, The New York Times reports, falls below the 20 percent mark when you move to the graduate level (Editor's note: the link could be paywalled). From the report: The Tandon School -- a consolidation of N.Y.U.'s science, technology, engineering and math programs on its Brooklyn campus -- is an extreme example of how scarce Americans are in graduate programs in STEM. Overall, these programs have the highest percentage of international students of any broad academic field. In the fall of 2015, about 55 percent of all graduate students in mathematics, computer sciences and engineering were from abroad, according to a survey by the Council of Graduate Schools and the Graduate Record Examinations Board. In arts and humanities, the figure was about 16 percent; in business, a little more than 18 percent. The dearth of Americans is even more pronounced in hot STEM fields like computer science, which serve as talent pipelines for the likes of Google, Amazon, Facebook and Microsoft: About 64 percent of doctoral candidates and almost 68 percent in master's programs last year were international students, according to an annual survey of American and Canadian universities by the Computing Research Association. In comparison, only about 9 percent of undergraduates in computer science were international students (perhaps, deans posit, because families are nervous about sending offspring who are barely adults across the ocean to study).
Earth

The US Has Destroyed A Critical Sea Ice-Measuring Satellite (scientificamerican.com) 283

"A key polar satellite used to measure the Arctic ice cap failed a few days ago, leaving the U.S. with only three others, and those have lived well beyond their shelf lives," writes long-time Slashdot reader edibobb. The Guardian reports that all three of the remaining satellites "are all beginning to drift out of their orbits over the poles" and will no longer be operational by 2023. This could put an end to nearly 40 years of uninterrupted data on polar ice, notes the original submission, adding "It seems like there would be a backup satellite, right?

"In fact, there was a backup satellite ready to go." The $58 million satellite was dismantled in 2016 when the Republican-controlled Congress cut its funding. (The Guardian reports that many scientists "say this decision was made for purely ideological reasons.") Now Nature reports: The U.S. military is developing another set of weather satellites...but the one carrying a microwave sensor will not launch before 2022. That means that when the current three aging satellites die, the United States will be without a reliable, long-term source of sea-ice data... For now, the the U.S. National Snow and Ice Data Center is preparing for those scenarios by incorporating data from Japan's AMSR2 microwave sensor into its sea-ice record. Another, more politically fraught option is to pull in data from the China Meteorological Administration's Fengyun satellite series... Since 2011 Congress has banned NASA scientists from working with Chinese scientists -- but not necessarily from using Chinese data. One final possibility is finding a way to launch the passive-microwave sensor that scientists at the U.S. Naval Research Laboratory salvaged from the dismantled DMSP satellite. The sensor currently sits at the Aerospace Corporation in El Segundo, California, where researchers are trying to find a way to get it into orbit.
Government

'Panama Papers' Group Strikes Again with 'Paradise Papers' (theguardian.com) 402

Long-time Slashdot reader Freshly Exhumed tipped us off to a new document leak that's just revealed massive tax havens used by the world's most wealthy and powerful people. An anonymous reader quotes the Guardian: The material, which has come from two offshore service providers and the company registries of 19 tax havens, was obtained by the German newspaper Suddeutsche Zeitung and shared by the International Consortium of Investigative Journalists with partners including the Guardian, the BBC and the New York Times. The project has been called the Paradise Papers.
It's the same group responsible for the Panama Papers, and the Guardian reports that in these 13.4 million new files, journalists have discovered:
  • "Aggressive tax avoidance by multinational corporations, including Nike and Apple."

"The publication of this investigation, for which more than 380 journalists have spent a year combing through data that stretches back 70 years, comes at a time of growing global income inequality," reports the Guardian. "Meanwhile, multinational companies are shifting a growing share of profits offshore -- €600 billion in the last year alone -- the leading economist Gabriel Zucman will reveal in a study to be published later this week. "Tax havens are one of the key engines of the rise in global inequality," he said."


Businesses

Failure of Sprint/T-Mobile Merger Means a Missed Chance To Save $30B (kansascity.com) 127

UPDATE (11/5/17): Sprint and T-Mobile confirmed Saturday that they've ended their merger talks, saying they were "unable to find mutually agreeable terms." The Kansas City Star reports that the failure "means shareholders of the two companies gave up $30 billion or more in cost savings that their managements had expected a merger to generate.

"One combined wireless company would have needed to invest less in its network than the two competing companies spend separately... Absent a merger, Sprint now faces a highly competitive marketplace as the smallest national player and with a more aggressive rival in T-Mobile."

Several news outlets had already reported on Monday that Japan's conglomerate SoftBank, which owns Sprint, has pulled the plug on a proposed merger between the two carriers. From a report: SoftBank will reportedly propose ending merger talks with T-Mobile parent company Deutsche Telekom as soon as Tuesday, October 31st. That's according to Nikkei, which says that SoftBank wants to end merger talks due to "a failure to agree on ownership of the combined entity." It's said that Deutsche Telekom insisted on a controlling stake of the combined T-Mobile-Sprint, and that some people at SoftBank were okay with that as long as SoftBank had some sort of influence. However, SoftBank's board recently decided that it wouldn't give up control, and today it decided that it wants to call off the merger talks.
Last Monday Sprint and T-Mobile shares both fell immediately following the media reports.

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