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Businesses

Highest-Paid CEOs Run Worst-Performing Companies, Research Finds (independent.co.uk) 12

An anonymous reader writes from a report via The Independent: According to a study carried out by corporate research firm MSCI, CEO's that get paid the most run some of the worst-performing companies. It found that every $100 invested in companies with the highest-paid CEOs would have grown to $265 over 10 years. However, the same amount invested in the companies with the lowest-paid CEOs would have grown to $367 over 10 years. The report, titled "Are CEOs paid for performance? Evaluating the Effectiveness of Equity Incentives," looked at the salaries of 800 CEOs at 429 large and medium-sized U.S. companies between 2005 and 2014 and compared it with the total shareholder return of the companies. Senior corporate governance research at MSCI, Ric Marshall, said in a statement: "The highest paid had the worse performance by a significant margin. It just argues for the equity portion of CEO pay to be more conservative."
Iphone

Apple Q3 Earnings: iPhone Sales Continue To Slide, But Apple Beats Estimates (bgr.com) 12

An anonymous reader quotes a report from BGR: Apple on Tuesday announced fiscal third-quarter earnings of $1.42 per share, or $7.8 billion in net income, on sales totaling $42.4 billion. That compares to a net profit of $1.85 per share in the same quarter last year, while revenue slid from the Q3 record of $49.6 billion that Apple set in fiscal 2015. Ahead of Apple's report, analysts were expecting EPS to come in at $1.39 while revenue was seen dropping to $42.1 billion, right in the middle of Apple's guidance of between $41 billion and $43 billion. iPhone sales in fiscal Q3 2016 totaled 40.4 million units, down from the 47.5 million iPhones the company sold during the June quarter last year, which was also a third-quarter record. Wall Street's consensus for this past quarter was 40 million units. The company said it expects between $45.5 billion and $47.5 billion in sales for the fiscal fourth quarter. The only part of Apple's business that's really growing is its mobile apps and online services. The company reported a 19 percent sales jump for the segment that includes iTunes, Apple Music, the App Store and services like Apple Pay and iCloud storage. "That segment produced nearly $6 billion in sales -- more than Apple pulled in from quarterly sales of either iPad or Macs," reports ABC News.
Businesses

AR Helmet Startup Skully Has Crashed and Burned (techcrunch.com) 15

An anonymous reader writes from a report via TechCrunch: Sources inside the AR helmet company Skully say the startup is no more. TechCrunch reports: "Operations have ceased within the company, and we're told the website will be turned off at some point today. [Skully's CEO and co-founder Marcus Weller] has also been asked to sign a confidentiality deal with investors. Weller told TechCrunch today he will not sign and that he's completely walked away from all dealings with the company as of 10 days ago. The site is still up for now but it says Skully's AR-1 helmet is sold out in every size and no one is able to order. A source tells us sales were cut off on Monday. The shutdown leaves several vendors and Skully's manufacturer Flextronics with unpaid bills and at least 50 full-time employees out of a job. It's unclear if any of the vendors will be paid. That also means the more than 3,000 people who pre-ordered a helmet may never get one -- and one source tells us it's doubtful any of them will be receiving a refund." One source claims Weller botched a possible acquisition deal with Chinese company LeSports before leaving the company last week, while another says the deal might still happen now that the former CEO is gone. Weller is saying that he and his brother were forced out of the company after investors disagreed with the LeSports deal. Investors from Intel Capital ultimately determined it was best to simply shut down the entire company instead of trying to salvage the company Weller started. "We're disappointed Skully has closed its doors. We've been focused on the company's success for nearly two years and have recently been trying to negotiate a funding round to keep it going," Intel Capital said in a statement. "We're certainly sorry for the employees who are losing their jobs, the crowdfunding backers whose investments didn't work out and the customers who'd pre-purchased product. We continue to be excited by the promise of this kind of wearable technology."
Transportation

Norway Is Building The World's First 'Floating' Underwater Tunnels (thenextweb.com) 25

An anonymous reader writes from a report via The Next Web: Norway plans to build "submerged floating bridges" to allow drivers to cross its bodies of water. The Next Web reports: "The 'submerged floating bridges' would consist of large tubes suspended by pontoon-like support structures 100 feet below water. Each will be wide enough for two lanes of traffic, and the floating structures should ease the congestion on numerous ferries currently required to get commuters from Point A to Point B. Each support pontoon would then be secured to a truss or bolted to the bedrock below to keep things stable." A trip from Kristiansand to Trondheim is roughly 680 miles and could take as long as 21 hours due to the seven ferry trips required along the way. While building normal bridges would cost significantly less than the $25 billion in funds required for the tunnel project, the fjords and difficult terrain make them unsuitable candidates. The pricey tunnel project could cut the trip time to just 10 hours when it's expected to be finished in 2035.
Facebook

Facebook Open Sources 360 Surround Camera With Ikea-Style Instructions (techcrunch.com) 19

Reader joshtops writes: Facebook needs you to fill its News Feed, Oculus Rift, and Gear VR with 360 content. So today it put all the hardware and software designs of its Surround 360 camera on Github after announcing the plan in April. Thanks to cheeky instruction manual inspired by Ikea's manuals, you can learn how to buy the parts, assemble the camera, load the image-stitching software, and start shooting 360 content. Essentially 17 cameras on a UFO-looking stick, the 360 Surround camera can be built for about $30,000 in parts. The 4-megapixel lenses can shoot 4K, 6K, or 8K 360 video, and fisheye lenses on the top and bottom remove the blindspots. Facebook forced a random engineer to try to build the 360 Surround from the open source instructions, and found it took about four hours.FastCompany has more details.
Star Wars Prequels

Harrison Ford Could Have Died In Star Wars Set Incident, Court Hears (theguardian.com) 76

An anonymous reader writes: While filming Star Wars: The Force Awakens, Harrison Ford almost died when he was crushed by a hydraulic door on the set of the Millennium Falcon. He was reportedly knocked to the ground and crushed beneath the heavy door when he walked on to the set not believing it to be live. The 71-year-old actor suffered a broken left leg. Prosecutor Andrew Marshall said the door "could have killed somebody. The fact that it didn't was because an emergency stop was activated," he said. The company responsible, Foodles Production, pleaded guilty to two breaches under health and safety legislation, one count under section two of the Health and Safety at Work Act 1974, which related to a breach of duty in relation to employees, and a second under section three, a breach over people not employed by the company. The lawyer for Foodles Production, which is owned by Disney, said the company would contest the level of risk involved on August 22nd at Aylesbury crown court.
Earth

54C Recorded In Kuwait Likely Hottest On Record In Asia (foxnews.com) 268

An anonymous reader writes from an Associated Press report: The UN weather agency said it suspects that the 54C temperature recorded in Kuwait has set a record for the eastern hemisphere. The World Meteorological Organisation (WMO) said Tuesday it is setting up a committee to look into whether the temperature recorded last Thursday in Mitrabah, Kuwait, was a new high for the eastern hemisphere and in Asia. WMO's Omar Baddour said it is "likely" to be an eastern hemisphere record. Last week, swathes of the Middle East and North Africa and were hit by heatwaves that have become more frequent over the last half-century, and Earth is fresh off the hottest six months on record. WMO says the world record high of 56.7C was recorded at Furnace Creek in Death Valley, California, in 1913. In the UAE, highs of 49C are expected inland on Wednesday. Last year, the mercury rose above 50C in Sweiham, near Al Ain.An article on Citylab, citing NOAA's latest analysis notes that it was the warmest June in the modern history and also the 14th consecutive month of unprecedented hotness.
AMD

AMD Unveils Radeon Pro WX and Pro SSG Professional Graphics Cards (hothardware.com) 48

MojoKid writes: AMD took the wraps off its latest pro graphics solutions at SIGGRAPH today, and announced three new professional graphics cards in the new Polaris-based Radeon Pro WX Series. The Radeon Pro WX 4100 is the entry-level model with a half-height design for use in small form-factor workstations. The Radeon Pro WX 5100 is the middle child, while the Radeon Pro WX 7100 is AMD's current top-end WX model. The Radeon Pro WX 7100 has 32 compute units, offers 5 TFLOPs of compute performance, and is backed by 8GB of GDDR4 memory over a 256-bit memory interface. The Radeon Pro WX 5100 offers 28 compute units and 4 TFLOPs of performance along with 8GB memory over the same 256-bit interface, and the Radeon Pro WX 4100 is comprised of 16 compute units at 2 TFLOPs of perf with 4GB memory over a 128-bit memory link. The Radeon Pro WX 4100 has four mini DisplayPort outputs, while the Radeon Pro WX 5100 and 7100 each have four full-size DisplayPort connectors. None of these cards will be giving the new NVIDIA Quadro P6000 a run for its money in terms of performance, but they don't have to. The Quadro card will no doubt cost thousands of dollars, while the Radeon Pro WX 7100 will eek in at just under $1,000. The Radeon Pro WX 5100 and 4100 will slot in somewhat below that mark. AMD also announced the Radeon Solid State Storage Architecture and the Radeon Pro SSG card today. Details are scant, but AMD is essentially outfitting Radeon Pro SSG cards with large amounts of Solid State Flash Memory, which can allow much larger data sets to reside close to the GPU in an extended frame buffer. Whereas the highest-end professional graphics cards today may have up to 24GB of memory, the Radeon Pro SSG will start with 1TB, linked to the GPU via a custom PCI Express interface. Giving the GPU access to a large, local data repository should offer significantly increased performance for demanding workloads like real-time post-production of 8K video, high-resolution rendering, VR content creation and others.
Businesses

Apple's Electric Car Project To Be Led By Bob Mansfield (techcrunch.com) 132

An anonymous reader writes: Long-time Apple executive Bob Mansfield will lead Apple's electric car project, according to the Wall Street Journal. TechCrunch reports: "Mansfield stepped down from the Apple executive board in 2013, yet stayed around the company to work on, what Apple called, special projects. In this role he was reporting directly to Apple CEO Tim Cook. One of Mansfield's projects turned out to be the Apple Watch. Now it seems he will head-up Apple's car ambitions -- a project Apple has yet to publicly confirm. During Mansfield's tenure he lead the engineering teams responsible for numerous products including the MacBook Air, iMac, and the iPad."
Earth

Feds To Deploy Anti-Drone Software Near Wildfires (thehill.com) 159

An anonymous reader quotes a report from The Hill: Federal officials are launching a new "geofencing" program to alert drone pilots when they're flying too close to wildfire prevention operations. The Department of Interior said Monday it would deploy software warnings to pilots when their drones pose a risk to the aircraft used by emergency responders fighting wildfires. The agency said there have been 15 instances of drones interfering with firefighter operations this year, including several leading to grounded aircraft. Drone-related incidents doubled between 2014 and 2015, the agency said. Officials built the new warning system with the drone industry, and the agency said manufacturers could eventually use it to build drones that automatically steer away from wildfire locations. The program is in its pilot phase, the agency said; officials hope to have a full public release in time for next year's wildfire season. "No responsible drone operator wants to endanger the lives of the men and women who work to protect them and we believe this program, which uses the global positioning system to create a virtual barrier, will move us one step closer to eliminating this problem for wildfire managers," Mark Bathrick, the director of the Interior Department's Office of Aviation Service, said in a statement.
Communications

NIST Prepares To Ban SMS-Based Two-Factor Authentication (softpedia.com) 144

An anonymous reader writes: "The U.S. National Institute for Standards and Technology (NIST) has released the latest draft version of the Digital Authentication Guideline that contains language hinting at a future ban of SMS-based Two-Factor Authentication (2FA)," reports Softpedia. The NIST DAG draft argues that SMS-based two-factor authentication is an insecure process because the phone may not always be in possession of the phone number, and because in the case of VoIP connections, SMS messages may be intercepted and not delivered to the phone. The guideline recommends the usage of tokens and software cryptographic authenticators instead. Even biometrics authentication is considered safe, under one condition: "Biometrics SHALL be used with another authentication factor (something you know or something you have)," the guideline's draft reads. The NIST DAG draft reads in part: "If the out of band verification is to be made using a SMS message on a public mobile telephone network, the verifier SHALL verify that the pre-registered telephone number being used is actually associated with a mobile network and not with a VoIP (or other software-based) service. It then sends the SMS message to the pre-registered telephone number. Changing the pre-registered telephone number SHALL NOT be possible without two-factor authentication at the time of the change. OOB using SMS is deprecated, and will no longer be allowed in future releases of this guidance."
Security

Vine's Source Code Was Accidentally Made Public For Five Minutes (theregister.co.uk) 42

An anonymous reader writes from The Register: Vine, the six-second-video-loop app acquired by Twitter in 2012, had its source code made publicly available by a bounty-hunter for everyone to see. The Register reports: "According to this post by @avicoder (Vjex at GitHub), Vine's source code was for a while available on what was supposed to be a private Docker registry. While docker.vineapp.com, hosted at Amazon, wasn't meant to be available, @avicoder found he was able to download images with a simple pull request. After that it's all too easy: the docker pull https://docker.vineapp.com:443/library/vinewww request loaded the code, and he could then open the Docker image and run it. 'I was able to see the entire source code of Vine, its API keys and third party keys and secrets. Even running the image without any parameter, [it] was letting me host a replica of Vine locally.' The code included 'API keys, third party keys and secrets,' he writes. Twitter's bounty program paid out -- $10,080 -- and the problem was fixed in March (within five minutes of him demonstrating the issue)."
Transportation

Amazon Partners With UK Government To Test Drone Deliveries (usatoday.com) 42

An anonymous reader quotes a report from USA Today: [Recent rules from the Federal Aviation Administration mean delivery by drone is years away in the United States, but packages may be winging their way to customers sooner rather than later in the United Kingdom, where Amazon just got permission to begin a new trial of its delivery drones.] The U.K. Civil Aviation Authority gave Amazon permission to test several key drone delivery parameters. They include sending drones beyond the line of sight of their operator in rural and suburban areas, testing sensor performance to make sure the drones can identify and avoid obstacles and allowing a single operator to manage multiple highly-automated drones. U.S. rules are outlined in a 624-page rulebook from the Federal Aviation Administration. They allow commercial drones weighing up to 55 pounds to fly during daylight hours. The aircraft must remain within sight of the operator or an observer who is in communication with the operator. The operators must be pass an aeronautics test every 24 months for a certificate as well as a background check by the Transportation Security Administration. The rules govern commercial flights, such as for aerial photography or utilities inspection. Amazon's goal is to use drones to deliver packages up to 5 pound to customers in 30 minutes or less. Amazon released a statement today detailing its partnership with the UK Government that may one day turn its Prime Air drone delivery service into reality.
China

China Releases Test Footage of Ballistic Missile Defense System (mirror.co.uk) 63

An anonymous reader quotes a report from Mirror.co.uk: China has released footage of its first interception test of a mid-air ballistic missile, destroying a target miles above Earth. Footage of the experiment, which took place in 2010, has never been made public until now. According to Chinese news agency CCTV, Xu Chunguang, an expert working at a military base in northwest China, said: "All of our research is meant to solve problems that may crop up in future actual combats." It reportedly took researchers another three years to develop the core technologies to improve the system. A second successful test was reportedly conducted in January 2013. China's decision to finally release the footage could be seen as a warning shot to the U.S., which was critical of China for not notifying the Pentagon of the tests at the time. In May, China announced it would send submarines armed with nuclear missiles into the Atlantic Ocean, arguing it had little choice if America continued to advance its weapons systems. China has recently denounced South Korea's decision to deploy a U.S. Terminal High Altitude Area Defense (THAAD) anti-missile system to counter threats from North Korea, saying that it harmed the foundation of their mutual trust.
Bitcoin

Bitcoin Not Money, Rules Miami Judge In Dismissing Laundering Charges (miamiherald.com) 140

An anonymous reader quotes a report from Miami Herald: Bitcoin does not actually qualify as money, a Miami-Dade judge ruled Monday in throwing out criminal charges against a Miami Beach man charged with illegally selling the virtual currency. The defendant, Michell Espinoza, was charged with illegally selling and laundering $1,500 worth of Bitcoins to undercover detectives who told him they wanted to use the money to buy stolen credit-card numbers. But Miami-Dade Circuit Judge Teresa Mary Pooler ruled that Bitcoin was not backed by any government or bank, and was not "tangible wealth" and "cannot be hidden under a mattress like cash and gold bars." "The court is not an expert in economics, however, it is very clear, even to someone with limited knowledge in the area, the Bitcoin has a long way to go before it the equivalent of money," Pooler wrote in an eight-page order. The judge also wrote that Florida law -- which says someone can be charged with money laundering if they engage in a financial transaction that will "promote" illegal activity -- is way too vague to apply to Bitcoin. "This court is unwilling to punish a man for selling his property to another, when his actions fall under a statute that is so vaguely written that even legal professionals have difficulty finding a singular meaning," she wrote. Espinoza's case is believed to be the first money-laundering prosecution involving Bitcoin.
Movies

MIT Developed A Movie Screen That Brings Glasses-Free 3D To All Seats (techcrunch.com) 94

An anonymous reader writes from a report via TechCrunch: MIT has developed a glasses-less 3D display for movie theaters. The Nintendo 3DS is one of a handful of devices to feature glasses-less 3D, but it is designed for a single users where the user is looking at the display head-on at a relatively specific angle. It's not something made for a movie theater with hundreds of seats, each of which would have a different viewing angle. What's neat about MIT's 3D display is that it doesn't require glasses and it lets anyone see the 3D effect in a movie theater, no matter where they are sitting. The MIT Computers Science and Artificial Intelligence Lab (CSAIL) created the prototype display called 'Cinema 3D' that uses a complex arrangement of lenses and mirrors to create a set number of parallax barriers that can address every viewing angle in the theater based on seat locations. It works in a movie theater because the seats are in fixed locations, and people don't tend to move around, change seats or alter their viewing angle too much. What's also neat about the Cinema 3D is that is preserves resolution, whereas other glasses-less 3D displays carry cots in terms of image resolution. The prototype is about the size of a letter-sized notepad, and it needs 50 sets of mirrors and lenses. It should be ready for market once researchers scale it up to a commercially viable product.
Censorship

Facebook Admits Blocking WikiLeaks' DNC Email Links, But Won't Say Why (thenextweb.com) 263

An anonymous reader writes: Facebook has admitted it blocked links to WikiLeaks' DNC email dump, but the company has yet to explain why. WikiLeaks has responded to the censorship via Twitter, writing: "For those facing censorship on Facebook etc when trying to post links directly to WikiLeaks #DNCLeak try using archive.is." When SwiftOnSecurity tweeted, "Facebook has an automated system for detecting spam/malicious links, that sometimes have false positives. /cc," Facebook's Chief Security Officer Alex Stamos replied with, "It's been fixed." As for why there was a problem in the first place, we don't know. Nate Swanner from The Next Web writes, "It's possible its algorithm incorrectly identified them as malicious, but it's another negative mark on the company's record nonetheless. WikiLeaks is a known entity, not some torrent dumping ground. The WikiLeaks link issue has reportedly been fixed, which is great -- but also not really the point. The fact links to the archive was blocked at all suggests there's a very tight reign on what's allowed on Facebook across the board, and that's a problem." A Facebook representative provided a statement to Gizmodo: "Like other services, our anti-spam systems briefly flagged links to these documents as unsafe. We quickly corrected this error on Saturday evening."
Social Networks

Twitter, a 10-Year-Old Company, Is Still Explaining What Twitter Is (theverge.com) 105

Twitter investors have long expressed their concerns about the rate at which Twitter is growing. The social networking website has seen platforms such as Instagram and Snapchat born into existence and quickly overtake it in terms of user base and engagement level. One of the reasons why Twitter hasn't grown as rapidly is because of a confusion among many -- including what we can say, Twitter itself -- about what exactly is this platform for. The Verge reports: Twitter came into our lives in 2006, and after a decade of existence, most people still have no idea what Twitter even is. Ninety percent of respondents to a Twitter-organized questionnaire say they recognize the brand, but most "didn't know or simply misunderstood" what it was for. Most people also thought having an account meant they had to tweet every day. As Twitter said in a blog post about these findings: "We realized we had some explaining and clarifying to do!" Over the years, Twitter has changed the way it acknowledges itself before people. It was once known as a social networking website, but not long ago the company marketed itself as a "news" service. Vanity Fair adds: The campaign, which launches today, is all about what's happening -- what's trending, what games are going on, what news events are breaking, what are people talking about, live, right now. A video at the center of the campaign cycles through footage of Black Lives Matters protests, athletes competing in the Olympics and a woman playing Pokemon Go, Lin-Manuel Miranda on stage at Hamilton, and Donald Trump stumping at a campaign rally. "We see it as a focus and an emphasis on what Twitter has always been about," Leslie Berland, Twitter's chief marketing officer, told The Hive. "We can see what's happening as it's happening, with all the live commentary that makes Twitter so special."
The Almighty Buck

Millennials Are Obsessed With Side Hustles Because 'They're All' They've Got (qz.com) 329

Quartz ran an article over the weekend which captures a growing trend among millennials: to have a side job -- or as many of them call it, the "side-hustle." One of the reasons that people need this other gig is obviously money, but there are other factors at play as well. From the article: The side hustle offers something worth much more than money: A hedge against feeling stuck and dull and cheated by life. This psychological benefit is the real reason for the Millennial obsession, I'd argue, and why you might want to consider finding your own side hustle, no matter how old you are. Now one might say that this "side-hustle" is not a new phenomenon at all. People have since forever have had multiple jobs to make the ends meet. But the author argues that in the post 2008-crisis, we have witnessed a whole generation where one gig would simply not cut it all for many. The article adds: Previous generations have also coped with such semi-tragedy; probably every human ever has been a sort of actor-waiter at some point. In any case, those of us who are employed generally understand ourselves to be lucky. Working as a benefits administrator, an ad-sales rep or even a Facebook engineer might not be the dream job. But your side hustle can keep you from feeling pigeonholed. It's the distraction from your disappointment, a bridge between crass realities and your compelling inner life. In the best-case scenario, your side hustle can be like a lottery ticket, offering the possibility -- however remote -- that you just might hit the jackpot and discover that holy grail of gigs. The one that perfectly blends money and love. The one that's coming along any day now.
Communications

Sprint CEO Hints at Price Hikes Ahead of iPhone 7 (cnet.com) 34

An anonymous reader shares a CNET report: If you're considering jumping ship to Sprint to take advantage of its "half-off" promotion, don't dawdle. The promotion, which promises to cut your existing rate plan at a competing carrier in half, has been a hit with consumers. The nation's fourth-largest wireless carrier said it added 173,000 post-paid customers, or folks who pay at the end of each month, in its fiscal first quarter that ended June 30. That figure marks a reversal from a loss of 12,000 customers a year ago. But the half-off promotion isn't sticking around forever, according to Sprint CEO Marcelo Claure, who hinted at price increases later this summer. "You can expect us to come up with a new set of rate plans before the next iPhone," Claure said Monday on a call with journalists. New iPhone typically arrive in mid-September.

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