Archive for the ‘Economics’ Category

Anthem to shell out $115m in largest-ever data theft settlement: 1/3rd goes to lawyers, 10% to Experian, much to taxes, leaves around 10% for victims. Shows you what use the Law is for justice.

If you were one of those hit by the intrusion, don’t expect a big payout. Plenty of others will be getting their cuts first. According to the terms of the settlement, a full third of the package ($37,950,000) has been earmarked to cover attorney fees. An additional $17m will be paid out to Experian, who […]

Inventory insurers in NL sneakily exclude smartphones

It turns out they won’t cover the cost of your smartphone breakages, because they are the most popular claims. And if they do cover your tablet, there are surcharges and other difficulties. Allrisk inboedelverzekeraars hebben zich gewapend tegen kwetsbare smartphones, zo blijkt uit onderzoek van financieel communicatiebureau SevenEight onder 23 grote allrisk inboedelverzekeraars. Source: Inboedelverzekeraar […]

Stock Stream – Worlds First Multiplayer Stock Market Game Using Real Money

Anyone can vote in the Stock Stream Twitch Channel on which stocks should be bought or sold. Trades are executed automatically using Robinhood. How much money is available? The account is funded with $50,000 though unfortunately, due to FINRA/SEC regulations, trading will halt if the account value falls below $25,000. Source: Stock Stream – Worlds […]

‘Do not tell Elon’: Ex-SpaceX man claims firm cut corners on NASA part tests

A fired SpaceX worker has accused the company of leaning on its employees to forge test records for parts destined for NASA. Jason Blasdell told his wrongful firing court hearing in California that although he complained to the HR department about being pressured into creating false test passes, the company ignored him – and he […] – US government open source repo is a platform designed to improve access to the federal government’s custom-developed software. Source: The US Government is committing to open source in a big way. This is where to find it.

Wells Fargo fake accounts scandal appears far bigger than previously thought, attorneys say, may have opened 3.5 million accounts without customer consent

AN FRANCISCO — Wells Fargo may have opened as many as 3.5 million bogus bank accounts without its customers’ permission, attorneys for customers suing the bank have alleged in a court filing, suggesting the bank may have created far more fake accounts than previously indicated. The plaintiffs’ new estimate of bogus bank accounts is about […]

Congressmen taking huge wads of $$$ to vote for tracking US web history named and shamed on billboards

When Congress voted in March to block FCC privacy rules and let internet service providers sell users’ personal data, it was a coup for the telecom industry. Now, the nonprofit, pro-privacy group Fight for the Future is publicizing just how much the industry paid in an attempt to sway those votes. The group unveiled four […]

Harry Shearer: Why My ‘Spinal Tap’ Lawsuit Affects All Creators

Last fall, Shearer filed a $125 million lawsuit against Vivendi – the company that owns This Is Spinal Tap – for financial misappropriation and launched a website called Fairness Rocks explaining his lawsuit. He alleged that the company says the four creators between them have only earned $81 in merchandizing income and $98 for their […]

Kerala saves Rs 300 crore ($45m) as schools switch to open software

The Kerala government has made a saving of Rs 300 crore through introduction and adoption of Free & Open Source Software (FOSS) in the school education sector, said a state government official on Sunday. IT became a compulsory subject in Kerala schools from 2003, but it was in 2005 only that FOSS was introduced in […]

600 Goldman traders replaced by 200 computer engineers

Average compensation for staff in sales, trading, and research at the 12 largest global investment banks, of which Goldman is one, is $500,000 in salary and bonus, according to Coalition. Seventy-five percent of Wall Street compensation goes to these highly paid “front end” employees, says Amrit Shahani, head of research at Coalition. For the highly […]

71% NL population likes cash

Even though cash payments have decreased to 49% of our daily payments, people in the eurozone still think cash is important and shouldn’t be banned. DNBulletin: Contant betalen moet mogelijk blijven Source: DNBulletin: Contant betalen moet mogelijk blijven There has been a movement to try to shame cash payments, into creating a shady overtone to […]

Vendor comparison site: OutsmartBrands shows you cheap alternatives for the best

This site has a good list of items they link to on Amazon which are cheaper than the best item you could have gotten. It also compares the items on a few points they think are important, so you know why you are saving all the money. You don’t always need the best of the […]

Religion in US ‘worth more than Google and Apple combined’

Religion in the United States is worth $1.2tn a year, making it equivalent to the 15th largest national economy in the world, according to a study. The faith economy has a higher value than the combined revenues of the top 10 technology companies in the US, including Apple, Amazon and Google, says the analysis from […]

Stop Piracy? Legal Alternatives Beat Legal Threats, Research Shows

Threatening file-sharers with high fines or even prison sentences is not the best way to stop piracy. New research published by UK researchers shows that perceived risk has no effect on people’s file-sharing habits. Instead, the entertainment industries should focus on improving the legal options, so these can compete with file-sharing. Source: Stop Piracy? Legal […]

Failed HUD Helmet Maker Skully Spent Funding On Strippers And Exotic Cars: Lawsuit

In 2014, San Francisco tech startup Skully raised hype and money to build a Tony Stark-style digitally augmented motorcycle helmet. Almost $2.5 million later, the company’s shutting down. Now a lawsuit from within the company gives us some hints as to why: founders allegedly blew the R&D money on lap dances and fast cars. Source: […]

Public Wi-Fi hotspots and you: Busting the many legal myths in the UK

Ars investigates legal advice for hotspot operators—most are ill-informed; the rest invented. […] According to the experts we consulted, anyone attempting to follow the recommendations could in practice be creating data protection liabilities that they’re ill-equipped to discharge. Others may be put off altogether by dire warnings about legal risks that simply don’t exist. Source: […]

Hackers Steal $72 Million in Bitcoin From Hong Kong Exchange Bitfinex

Hong Kong bitcoin exchange Bitfinex reported yesterday that hackers had stolen 119,756 bitcoin, which is worth as much as $72 million dollars (with some reports going even higher). News of the hack sent bitcoin tumbling 23 percent, with its current value hovering around $556. Bitfinex confirmed that no other digital currency except bitcoin was targeted […]

Gawker Ordered To Pay Hulk Hogan $115 Million In Sex Tape Lawsuit – wait, how much?

In a closely watched trial by the media community, shortly after 7pm on Friday night, and less than six hours after starting deliberations, the jury sided with ex-pro wrestler Hulk Hogan and awarded him $115 million in his sex tape lawsuit against Gawker Media. The trial lasted two weeks. The award consists of $55 million […]

Humanity will only buy 47 smartphones per SECOND in 2016

Last year we bought 44 per second, but growth has slowed so its frowning time […] Prognostication-producers Gartner reckon the disappointing start to 2016 will continue for smartphone makers, with the year to end a mere seven per cent ahead of 2015. If it’s accurate, that would translate to 1.5 billion units for the year […]

Samsung Adds More Ads to Its TVs

The world’s largest maker of TVs by shipments added new tile ads to the main menu bar of its premium TVs in the U.S. in June 2015 and is planning to expand the program to Europe in coming months, people familiar with the matter said. […] according to one of these people, and by using […]

Italian Military to Save Up to 29 Million Euro by Migrating to LibreOffice

Following on last year’s bold announcement that they will attempt to migrate from proprietary Microsoft Office products to an open-source alternative like LibreOffice, Italy’s Ministry of Defense now expects to save up to 29 million Euro with this move. We said it before, and we’ll say it again, this is the smartest choice a government […]

Panama Papers – why are people hiding their money offshore anyway?

So, with the Panama papers, governments are cracking down on tax dodgers. In the Netherlands the minister wants to increase the penalty for giving up your hidden funds to 300% plus back taxes plus interest. The claim is that it’s not fair, because poor people don’t have enough money to dodge taxes and so have […]

With just 3 games, Supercell made $924M in profits on $2.3B in revenue in 2015

The company made profits (before certain items) of €848 million, or $964 million, on revenues of €2.109 billion, or $2.326 billion. That compares to earnings before income tax, depreciation, and amortization of €515 million, or $592 million, in 2014, on revenues of €1.545 billion, or $1.777 billion. The company also paid a dividend of €14 […]

The Jobs Most Likely to Be Taken Over by Robots In the Near Future

The World Economic Forum expects automation and robots will eliminate 5.1 million jobs within the next five years. That’s a scary thought, especially if you have one of these jobs that could theoretically be done more efficiently (and for less cost) with an automated machine. Source: The Jobs Most Likely to Be Taken Over by […]

Here’s How Much Celebrities Make in the Instagram Product Placement Machine

A nice list! It turns out to run from around $1000 to $3000 depending on how many followers you have. Source: Here’s How Much Celebrities Make in the Instagram Product Placement Machine

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