Archive for the 'Economy' Category

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Rolls-Royce to Pay £671 Million Over Bribery Claims

January 16th, 2017

Via: Guardian: Rolls-Royce, Britain’s leading multinational manufacturer, is to pay £671m in penalties after long-running investigations into claims it paid bribes to land export contracts. The settlement means the engineering giant will avoid being prosecuted by anti-corruption investigators in the UK, US and Brazil, though individual executives may still be charged. It comes five years […]

8 Men as Rich as Half the World

January 15th, 2017

Get yourself a side hustle and a podshare. Via: ABC: The gap between the super-rich and the poorest half of the global population is starker than previously thought, with just eight men, from Bill Gates to Michael Bloomberg, owning as much wealth as 3.6 billion people, according to an analysis by Oxfam released Monday. Presenting […]

‘Side Hustle’ as a Sign of the Apocalypse

January 14th, 2017

Definitely related: L.A. Coliving: PodShare Via: Medium: “These days, everyone needs a side hustle,” starts the Uber commercial recruiting new drivers. And it’s got bouncy music and the dude is hip and it makes it sound like this is super fun and I’m sitting there thinking: Are they seriously trying to make a “second job” […]

Facebook: Building 8

January 12th, 2017

Wikipedia: Transcranial Pulsed Ultrasound: Defense Advanced Research Projects Agency (DARPA) is undergoing research to develop a helmet that could control the minds of soldiers through the use of TPU. It would have the potential to control a soldier’s stress and anxiety levels with the click of a remote controlled button.[5] Sound waves would target specific […]

L.A. Coliving: PodShare

January 11th, 2017

This looks like someone turned a Kafkaesque Japanese capsule hotel inside out and dressed it up with some hip millennial bullshit. Are young people sleepwalking into living like upper class bums and thinking that it’s somehow a cool thing? Children, gather around: This is bum living with running water and wi-fi. I have nothing against […]

Bitcoin Slides as China’s Central Bank Launches Checks on Exchanges

January 11th, 2017

Via: Reuters: China’s central bank launched spot checks on leading bitcoin exchanges in Beijing and Shanghai, ratcheting up pressure on potential capital outflows and knocking the price of the cryptocurrency down more than 12 percent against the dollar. The People’s Bank of China (PBOC) said its probe of bitcoin exchanges BTCC, Huobi and OKCoin was […]

Bitcoin Wreck

January 6th, 2017

Warning: Nothing that appears on Cryptogon should be considered advice to buy, sell or hold any financial instrument. — Someone wondered why I mentioned Bitcoin a couple of days before it crashed, after not mentioning it for a long time. Did I know something? Nope. But I don’t mess with potential double tops. So when […]

Macy’s Closing 68 Stores; Job Cuts Total 10,100

January 5th, 2017

Via: USA Today: After seeing sales drop during the holidays, Macy’s said Wednesday it has either closed or will shutter 68 stores and cut an additional 6,200 positions at a time when shoppers are going online to buy everything from scarves to lipstick. Of the 68 stores out of 730 in total, nine closings had […]

Mining 24 Hours a Day with Robots

January 4th, 2017

Via: MIT Technology Review: Mining companies are rolling out autonomous trucks, drills, and trains, which will boost efficiency but also reduce the need for human employees. Each of these trucks is the size of a small two-story house. None has a driver or anyone else on board. Mining company Rio Tinto has 73 of these […]

Rethinking The Cost of War

January 4th, 2017

Via: ProPublica: There are many ways to measure the cost of U.S. involvement in the Vietnam War: In bombs (7 million tons), in dollars ($760 billion in today’s dollars) and in bodies (58,220). Then there’s the price of caring for those who survived: Each year, the Department of Veterans Affairs spends more than $23 billion […]

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