Carrying coal on route created by global warming.
Oh the irony. The Northwest Passage, the ever elusive connection between the riches of East Asia and colonial powers in Europe, finally exists. Thanks to melting in the Arctic region (ahem, climate change), countries like Russia and Canada are racing to take advantage of the time-saving shipping routes being created. And the first ship to cross through the Northwest Passage created by environmental recklessness is carrying coal.
House Republicans seem to hold the president responsible for the entire national debt—forgetting it was racked up by Republicans and Democrats alike. Daniel Gross explains with a chart.
The debt-limit drama is heating up. By mid-October, the U.S. government will run out of the legal authority to issue new debt. That means it won’t really be able to operate. On cue, the House Republicans have now released their enormous, exorbitant, foolish list of demands in exchange for lifting the debt limit. Obama has refused to negotiate on the topic. House Republicans, by contrast, are begging for him to enter talks. Their theory seems to be that in exchange for giving President Obama something that he wants (but that they don’t want to give), he should give them a bunch of things they want (but that he doesn’t want to give).
Investors may be getting an early holiday present, as Apple and China's largest mobile carrier appear close to announcing a deal.
By Cadie ThompsonApple may be about to finally announce a deal with China Mobile, the world's largest wireless carrier.Posters leaked on Thursday show China Mobile may be getting ready for an advertising campaign to promote Apple's iPhone finally coming to its customers.The posters, which were picked up by the website Unwiredview.com, show that China Mobile, which has about 700 million subscribers, is going to carry Apple's iPhone 5S and iPhone 5C.
CEO Marissa Mayer is getting a lot of buzz. But Yahoo!’s stock is on a roll largely because of its stake in Chinese e-retailer Alibaba—which is about to go public.
Things have been heating up recently at Yahoo! (Don’t believe me? Google it).Over the past year, as the chart above shows, Yahoo!’s stock has been on a steady rise, rising from well below $20 to now just over $32 a share – the highest level in nearly seven years. The company is now worth about $33 billion.So what’s behind the newfound love affair? Yahoo is still basically a bit player in search, with only 11.4 percent of the market. And, according to Ad Age, changes in the ad market and a shift of users to mobile devices has led to an 11 percent decline in Yahoo!’s core business of selling big display ads.
To meet with attorney general.
For the last several years, JPMorgan Chase has been fending off, fighting, and settling a slew of expensive legal and regulatory investigations. And that has left CEO Jamie Dimon eager to get the crisis-era woes behind him. To that end, Dimon has trekked to Washington to get personally involved in the latest potential deal—this one to settle investigations relating to mortgage practices in the credit-boom years. Amid reports that the government may be seeking as much as $11 billion to settle, Dimon is meeting directly with Attorney General Eric Holder.
And two other large U.S. data companies.
If you thought hacking season was over, think again. A spokesperson for the FBI confirmed Wednesday night that an investigation has been launched into potentially massive security breaches of three U.S. data companies, one of them, Lexis-Nexis. News of the hacks was broken earlier in the week by security blogger Brian Krebs on his website, krebsonsecurity. The multi-faceted attack was allegedly carried out by a cybercrime drug ring that stole Social Security numbers, birthdays, and other private information to later sell for profit. According to Krebs, the attackers may have had access to servers at Lexis-Nexis and elsewhere for up to six months.
Today’s economy gives companies the ability to get by without adding many full-time workers. But companies should also take pains to ensure that part-time work isn’t inferior work.
A large portion of the U.S. workforce is now permanently working part-time. The expectation that an improving economy would ease millions of unhappy part-time workers back into full time jobs hasn't come to fruition. And with the agonizing slow rise in retail sales, it's unlikely to change anytime soon. How these part-time workers are recruited, trained, and motivated will have a decisive impact on the direction of our economy.
Divers searching for gold coins.
Ahoy! Divers off the coast of Cape Cod have found a pirate ship treasure that’s been submerged since the early 1700s. Barry Clifford discovered the wreck site of the Whydah, the only pirate ship to sink in U.S. waters, in 1984 and has been pulling up thousands of artifacts ever since. But in early September, Clifford found evidence that there may be hundreds of thousands of gold coins yet to be recovered. Days before it sank in a massive storm in 1717, the Whydah plundered two ships and took 400,000 gold coins. Clifford’s crew has found several concretions, or rocky masses that form when metals like gold react with seawater. Whether they find the coins or not will be a mystery that will have to wait until diving season starts back up again next year around June.
Amazon's new tablet may have a price hike, but that won't help its profitability says CEO Jeff Bezos.
By John ForttAmazon.com is launching a new version of its Kindle Fire tablet—but with an unusual twist for the market that might leave consumers scratching their heads.Amazon's upcoming high-end tablet, the Kindle Fire HDX, will pack a bunch of new features, including one called Mayday that will allow users to video chat with tech support and fix their devices from wherever they are."You can press this button, and a tech support advisor will appear on your screen and copilot you through anything you might wanna do.
Treasury says October 17 is the date.
Talk about a spoiler. Treasury Secretary Jacob Lew sent a letter to Congress Wednesday morning declaring that the U.S. will no longer be able to pay its bills after October 17, unless the debt ceiling is raised. The announcement by Lew is the first time the administration has given a specific deadline. Many are watching Congress with trepidation, as it appears the two sides are nowhere near close to coming up with a solution to the impasse over the debt limit.
With an Ohio Walmart hosting a holiday food drive for its own workers, The Daily Beast's Michael Tomasky criticizes the notoriously stingy company for not paying them more.
He was arrested for graffiti, but Clayton Pettet won't rest until the world sees his art. And by art, we mean he's going to lose his virginity in front of a live audience.