- Fed awaiting evidence global chill not knocking U.S. off track
- Thu, 08 Oct 2015 16:46:35 -0400 -
The U.S. Federal Reserve thought the economy was close to warranting an interest rate hike in September but policymakers wanted firmer evidence a global economic slowdown was not knocking America off course. The minutes from the Sept. 16-17 meeting released on Thursday pointed to a deeply cautious Fed even before subsequent economic data showed a sharp slowdown in hiring by U.S. employers. "Most" policymakers, according to the minutes, thought the Fed's first rate hike in a decade should still come this year and that financial market turmoil had not "materially altered" the outlook for the U.S. economy.
- Wall Street rises after release of 'dovish' Fed minutes
- Thu, 08 Oct 2015 16:48:53 -0400 -
Strategists said the minutes showed less inclination for a rate hike and no unforeseen worries in the Fed's view of the U.S. economy. Last week's unexpectedly weak jobs report pushed back many investors' expectations for the timing of the Fed's first rate hike since 2006. The Dow Jones industrial average rose 138.46 points, or 0.82 percent, to 17,050.75, the S&P 500 gained 17.6 points, or 0.88 percent, to 2,013.43 and the Nasdaq Composite added 19.64 points, or 0.41 percent, to 4,810.79.
- Bill Gross sues Pimco for $200 million over forced ouster
- Thu, 08 Oct 2015 16:46:07 -0400 -
By Jennifer Ablan and Jonathan Stempel NEW YORK (Reuters) - Billionaire bond investor Bill Gross sued his former employer Pacific Investment Management Co and its parent Allianz SE for $200 million, saying a greedy "cabal" of executives drove him out of the bond fund giant he helped found because they wanted his huge bonus for themselves. The lawsuit ratchets up the vitriol between Gross, 71, who now works at Janus Capital Group Inc , and Pimco, which he built over four decades into a $2 trillion bond fund company. In plotting to get rid of him, Pimco managing directors were "driven by a lust for power, greed, and a desire to improve their own financial position and reputation," Gross said in a complaint filed on Thursday in the California Superior Court in Orange County.
- Volkswagen's U.S. chief blames emissions scandal on 'individuals'
- Thu, 08 Oct 2015 15:21:44 -0400 -
By David Morgan and Timothy Gardner WASHINGTON (Reuters) - Volkswagen's cheating on emissions with the use of software in diesel cars was not a corporate decision, but something that "individuals did," its U.S. chief executive told lawmakers on Thursday. Michael Horn, Volkswagen's U.S. president and chief executive, testified under oath to the House of Representatives Oversight and Investigations panel about the emissions scandal that has wiped away more than a third of the company's market value and sent tremors through the global auto industry. "This was a couple of software engineers who put this in for whatever reason," Horn said about the software code called defeat devices, which the company put in diesel cars since 2009 to cheat government tests of emissions harmful to human health.
- Jobless claims fall to near a 42-year low
- Thu, 08 Oct 2015 08:51:56 -0400 -
By Jason Lange WASHINGTON (Reuters) - The number of Americans filing new applications for jobless benefits fell more than expected to near a 42-year low last week, pointing to ongoing tightening in the labor market despite the recent slowdown in hiring. The data released on Thursday provides an upbeat check on the health of the labor market after last week's monthly employment report increased doubts the Federal Reserve would raise interest rates by the end of this year. Initial claims for state unemployment benefits dropped 13,000 to a seasonally adjusted 263,000 for the week ended Oct. 3, the Labor Department said.
- Dell looking at $50 billion EMC deal to boost corporate presence
- Thu, 08 Oct 2015 13:39:44 -0400 -
Dell Inc is in talks with banks to fund a $50 billion-plus takeover of data storage company EMC Corp, sources familiar with the matter said, as the world's No.3 PC maker looks to beef up its cloud-based offerings for corporate customers. The potential acquisition, which would be the largest technology sector deal on record, would help Dell diversify away from the stagnant personal computer market and give it the scale to attack the faster-growing and more lucrative market for managing and storing data for enterprises. "Dell and EMC are increasingly competing with the likes of Amazon, Google, Microsoft, and others that have deep pockets.
- No room for mistakes by central banks amid 'new mediocre'
- Thu, 08 Oct 2015 16:08:44 -0400 -
Central banks have little room for error in a low-growth world in which over-leveraged and commodity-dependent emerging economies and a slowing China are major risks, top international financiers told the International Monetary Fund's meeting. Despite $7 trillion in quantitative easing from banks in industrial nations since the global financial crisis, the world is stuck in a "new mediocre" growth pattern, IMF chief Christine Lagarde said on Thursday. The IMF meeting comes as the Bank of Japan looks poised to extend its money printing program, so-called quantitative easing, as it stares down the barrel of a fifth year of recession.
- Los Angeles drops discrimination lawsuit against Citigroup
- Thu, 08 Oct 2015 16:44:07 -0400 -
By Dena Aubin NEW YORK (Reuters) - Los Angeles has dropped a lawsuit accusing Citigroup of discriminatory mortgage lending, marking the second time a major bank has escaped claims that it steered the city's minorities into high-cost loans and led to foreclosures and neighborhood blight. In a court filing on Wednesday, Los Angeles and the bank agreed to dismiss the case but did not indicate the reasons. Los Angeles dropped a similar lawsuit against JPMorgan Chase last month.
- Air France pilot union says ready to resume talks with management
- Thu, 08 Oct 2015 15:15:09 -0400 -
Air France's main pilot union SNPL is ready to resume talks with the carrier's management over a planned restructuring, a union spokesman said on Thursday. Air France-KLM Chief Executive Alexandre de Juniac is expected to meet SNPL leaders alongside some of the company's executives on Friday. A majority of SNPL's council voted in favor of a resumption of talks with management, spokesman Emmanuel Mistrali said.
- Fiat Chrysler workers skeptical of new UAW deal's impact on wages
- Thu, 08 Oct 2015 13:40:57 -0400 -
Workers outside the gates of a Fiat Chrysler plant here greeted news early on Thursday of a new tentative agreement between the automaker and the United Auto Workers skeptically, giving an indication of the challenges the union may face in getting the deal ratified by members. Last week, 65 percent of Fiat Chrysler unionized workers voting rejected a proposed four-year contract. UAW production workers in Kokomo voted against the proposed contract by a margin of 2,555 to 723.
- NASA finds that Pluto has blue skies and surface water ice
- Thu, 08 Oct 2015 17:47:00 -0400 - Move over Mars, NASA's just confirmed that Pluto, everybody's favorite Kuiper belt object/celestial punching bag, not only has expansive fields of water ice on its surface but blue skies as well. Granted ...
- Playdate: Revisiting 'Uncharted' in 'The Nathan Drake Collection'
- Thu, 08 Oct 2015 17:30:00 -0400 - PlayStation doesn't have an official mascot character, but if it did, developer Naughty Dog's Nathan Drake would probably fit the bill. Much like Microsoft did last year with Halo: The Master Chief Collection ...
- iPhone 6s battery life may vary slightly depending who made the processor
- Thu, 08 Oct 2015 17:22:00 -0400 -
- The PS4 universal remote hits stores later this month
- Thu, 08 Oct 2015 17:05:00 -0400 -
- Moore's Law may be dying, but there's still plenty of demand for faster chips
- Thu, 08 Oct 2015 16:47:47 -0400 -
The demand for faster, more capable processors that use less power is driven by everything from self-driving cars to smartwatches. This week's Linley Processor Conference was all about how the industry plans to meet that demand with less help from Moore's Law.
- Whole Foods Recalls Cheeses Over Health Risk
- Thu, 08 Oct 2015 16:42:13 -0400 - Whole Foods announced Wednesday that it is recalling all “cut, wrapped and weighed” Papillon Organic Roquefort Cheeses over concerns that it could be contaminated with Listeria.
- Adobe ditches the Creative Cloud requirement for Lightroom mobile
- Thu, 08 Oct 2015 16:41:00 -0400 - Adobe's Lightroom mobile apps were already free to download. However, the software still required a Creative Cloud login or for you to own the desktop version to get any real use out of it. Well, that's ...
- Qualcomm begins sampling Server Development Platform
- Thu, 08 Oct 2015 16:29:00 -0400 -
Qualcomm says the SDP is now sampling to tier-one data centers after two years of development.
- Wall Street Rallies After Fed Minutes
- Thu, 08 Oct 2015 16:22:57 -0400 - U.S. equities rallied into the closing bell as traders digested the FOMC’s meeting minutes and awaited the unofficial kickoff to earnings season after the close of trade.
- The Wirecutter's best deals: a Vizio 4K TV, the UE Roll, and more!
- Thu, 08 Oct 2015 16:18:00 -0400 - This post was done in partnership with The Wirecutter, a buyer's guide to the best technology. Read their continuously updated list of deals at TheWirecutter.com. You may have already seen Engadget posting ...
- Singapore Post trials island-hopping delivery-by-drone program
- Thu, 08 Oct 2015 15:59:00 -0400 - You thought the USPS had it tough with all that rain, sleet, snow and hail they have to deal with? Try delivering mail throughout the Malay archipelago, the world's largest island chain. However, the Singapore ...
- Medium overhauls its collaborative publishing platform
- Thu, 08 Oct 2015 15:41:00 -0400 - Medium's management unveiled a radically redesigned publishing platform on Thursday including a host of new formatting and production features. These new writing tools include the ability to include Twitter-style ...
- Amazon takes aim at Etsy with its own marketplace for handicrafts
- Thu, 08 Oct 2015 15:37:00 -0400 -
Dubbed Handmade at Amazon, the marketplace is currently home to 5,000 active sellers from 60 countries offering 80,000 items.
- Clinton Cracking Down on Wall Street
- Thu, 08 Oct 2015 15:36:49 -0400 - Democratic presidential candidate Hillary Clinton unveiled her plan to combat the “abuses of Wall Street” in a statement released on Thursday.
- Adobe teases 'Monument Mode' for better photos of crowded landmarks
- Thu, 08 Oct 2015 15:23:00 -0400 - During its Max design conference this week, Adobe previewed a number of features that are currently in the works. For example, the company is building a tool called Monument Mode that'll allow you to remove ...
- AT&T's WiFi calling feature is now available
- Thu, 08 Oct 2015 15:09:00 -0400 - It's been just a few days since the FCC granted AT&T's waiver request that allowed the company to finally turn on its WiFi calling feature, and now WiFi calling is officially live. AT&T confirmed as much ...
- Google Chromecast review (2015): not much new, but still worth $35
- Thu, 08 Oct 2015 15:00:00 -0400 - The original Chromecast proved that big surprises can come in small packages. Even though it was just a $35 HDMI dongle the size of a pack of gum, it had the power to transform any TV into a smart one, ...
- AT&T Wi-Fi calls on iPhone now rolling out
- Thu, 08 Oct 2015 14:57:00 -0400 -
After being granted an FCC waiver earlier this week, AT&T is starting to roll out Wi-Fi Calling on some iPhones. Here's how to turn the feature on and check for availability.
- Nintendo revamps Miiverse site with more social features
- Thu, 08 Oct 2015 14:52:00 -0400 - The MiiVerse website is about bringing Nintendo's online community together, among other things. But up until today, the virtual hub was missing features that could have made it even more useful. Thankfully, ...
- Lyft partners with Hertz to offer its drivers affordable rental rates
- Thu, 08 Oct 2015 14:37:00 -0400 - If you've been trying to become a driver for Lyft, but your car doesn't meet the minimum requirements (like having four doors), the company has a solution. It's partnered with Hertz car rentals for what ...
- DNA nanomachine detects HIV antibodies in minutes, not hours
- Thu, 08 Oct 2015 14:17:00 -0400 - Current methods for detecting the antibodies that indicate HIV infection are agonizingly slow and cumbersome. However a new DNA nanomachine developed by an international team of researchers (and funded, ...
- Fed Feared Early Liftoff Impact on Inflation
- Thu, 08 Oct 2015 14:00:37 -0400 - Federal Reserve policy makers feared a premature lifting of interest rates could add to pressures keeping inflation below the Fed’s target rate.
- Illustrated 'Harry Potter' novels come to iBooks
- Thu, 08 Oct 2015 13:59:00 -0400 - Apple fans are used to getting the latest and greatest before others, from apps all the way through to, uh, U2's latest album. But, they've also had to learn how to be patient, for instance, when it took ...
- BlackBerry could quit hardware as early as next year
- Thu, 08 Oct 2015 13:53:00 -0400 - At a panel interview at Code/Mobile, BlackBerry CEO John Chen has said that the company might quit the hardware business if it isn't profitable by next year. He said that he "never says never" ...
- Netflix's most popular streaming plan now costs $10 a month for new customers
- Thu, 08 Oct 2015 13:36:00 -0400 - Netflix last raised the price of its most popular streaming plan in May of 2014, but it looks like new customers will now have to pay a little bit more. As noted by Bloomberg and confirmed by a quick look ...
- A decade of Linux patent non-aggression: The Open Invention Network
- Thu, 08 Oct 2015 13:36:00 -0400 -
One reason why Linux weathered patent attacks and trolls to become today's dominant server and cloud operating system is because the Open Invention Network united its supporters into a strong patent consortium.
- You might have to wait until November for the new Apple TV
- Thu, 08 Oct 2015 13:30:00 -0400 -
- HBO Now is finally on the Roku
- Thu, 08 Oct 2015 13:16:00 -0400 -
- Volkswagen Expects Diesel Fix in 2016
- Thu, 08 Oct 2015 13:03:51 -0400 - Volkswagen is working on a plan to begin repairing vehicles at the center of an emissions-cheating probe in early 2016, and the German automaker’s U.S. chief said the company will consider offering rebates to current owners.
- Designing Surface Pro 4: a chat with a Microsoft hardware lead
- Thu, 08 Oct 2015 13:00:00 -0400 -