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10 things in tech you need to know today

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Richard Branson

Good morning! This is the tech news you need to know this Thursday.

  1. Elon Musk denied a report that James Murdoch is the top choice to replace him as Tesla's chairman."This is incorrect," the Tesla CEO tweeted in response to a Financial Times report that Murdoch was favoured for the role.
  2. Apple will buy part of one its chip suppliers, Dialog Semiconductor, for $300 million in cash. The company has committed to paying a further $300 million for other parts of Dialog's business.
  3. Members of an advisory board for a $500 billion Saudi megacity project are distancing themselves from the organisation after the reported murder of a dissident Saudi journalistGoogle-linked executive Dan Doctoroff and ex-US secretary of energy Ernest Moriz have now dropped out of the project.
  4. Square's chief financial officer, Sarah Friar, is leaving the company to join Nextdoor as CEO. Friar, who first joined Square in 2012, led the company through its initial public offering in 2015.
  5. The Facebook engineer who wrote a memo decrying what he called the company's "intolerant" liberal culture has quit. In a goodbye note to his colleagues he said he "disagree[s] too strongly with where we're heading on these issues to watch what happens next."
  6. Andy Rubin, the father of Android, is reportedly working on a new phone for his startup, Essential, according to Bloomberg. The phone would be able to perform tasks without any instruction from the user. 
  7. A stock market decline Wednesday hit the biggest tech stocks particularly hard. Together, the FAANG companies — Facebook, Amazon, Apple, Netflix, and Google — lost a collective $172 billion in value.
  8. Amazon built an AI tool to hire people but had to shut it down because it was discriminating against women. Engineers reportedly found the AI was unfavorable toward female candidates because it had combed through male-dominated résumés to accrue its data.
  9. Automated legal tool DoNotPay is trying to help people lock down their online privacy settings and sue companies that get hacked. Founder Joshua Browder created the feature after his data was taken by Cambridge Analytica.
  10. Richard Branson told Elon Musk that he needed to delegate more to improve his quality of life outside Tesla. "He's got to find time for himself. He's got to find time for his health and for his family," Branson told CNBC on Tuesday.

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Global markets are getting pounded as fear grips investors

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sad trader

  • Stock markets around the world sell off sharply as fears about slowing economic growth and rising interest rates spook investors.
  • The sell-off began on Wall Street on Wednesday with the Dow Jones witnessing its third largest one-day point drop in history.
  • Bloodbath then spread to Asia with China's most significant mainland index, the Shanghai Composite, losing more than 5%.
  • Europe is now suffering, with virtually all major bourses down more than 1.2% in the first hour of trading.

Stock markets around the world are taking a hammering on Thursday as rising fears about global economic growth and ongoing trade tensions continue to rattle investor confidence.

The sell-off started in the US on Wednesday, with the Dow Jones seeing a more than 800 point drop during the session, its third biggest single-day point fall in history. Things then spread to Asia overnight, with all major indices on the continent witnessing major drops. 

"Equity markets are locked in a sharp sell-off, with concern around how far yields will rise, warnings from the IMF about financial stability risks, and continued trade tension all driving uncertainty," analysts at ANZ Bank wrote on Thursday.

Concerns in Asia are exacerbated by investor doubts that fresh stimulus from China's central bank will help prevent US President Trump's trade war from triggering an economic slowdown. Warnings about global growth from the IMF, along with rising interest rates, contributed to the concerns. Trump yesterday weighed in on the selloff to blame the Fed, calling its interest rate policy "crazy."

  • CHINA: The Shanghai Composite was down 5.2%.
  • EUROPE: By about 8.25 a.m. BST (3.25 a.m. ET) Asia's bloodbath session had spread into Europe, with virtually all major European indices losing more than 1% of their value in early trade.
  • UK: Britain's blue-chip FTSE 100, for example, has lost 1.22% to trade at 7,058 points, while Italy's FTSE MIB index is now just a whisker away from entering a bear market, down 1.16% at 19,489.

"A crazy day in the markets yesterday looks set to continue with further selling expected in equities today," Neil Wilson, chief analyst at Markets.com said in an email Thursday morning. "Clearly we’ve entered a severe bout of selling that may well have further to go."

China's most significant mainland index, the Shanghai Composite, dropped more than 5% during Thursday's trading session, the second time in just four days it has lost 4% or more of its value. Elsewhere in Asia, Hong Kong's Hang Seng lost 3.3%, while Japan's benchmark Nikkei 225 was down just shy of 4%.

While the market is clearly gripped by fear right now, US Treasury Secretary Steven Mnuchin urged calm. 

"Markets are not efficient and markets move in both directions and at times they overshoot in both directions," he told reporters on the sidelines of the IMF's annual meeting in Bali, Indonesia.

SEE ALSO: BLOODBATH: Stocks across Asia are getting obliterated

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Chinese stocks: it's utter carnage

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china upside down

If you thought the losses on Wall Street were massive overnight, take a look at the scoreboard below of how Chinese stocks were faring at various points on Thursday:

  • Shanghai Composite 2,583.46, −142.38, -5.22%
  • SSE50 2,390.50, -103.55, -4.15%
  • Shenzhen Composite 1,306.69, -5.52%
  • CSI300 3,150.21, -4.00%
  • CSI500 4,350.11, -6.04%
  • Hang Seng 25,437.85, -3.83%
  • USD/CNY 6.5973, 0.12%
  • USD/CNH 6.9389, 0.22%

Utter carnage, right?

The benchmark Shanghai Composite Index has tumbled 5.22% to 2583.46 by 9 a.m. Thursday, London time, leaving it at the lowest level in four years.

It’s now lost 27.3% from the year-to-date high struck on January 29, and is currently on track to record its largest one-day percentage decline since February 25, 2016.

SSEC Oct 11 2018

Like the benchmark, all other mainland indices are getting smoked, especially small-cap stocks.

The CSI 500 — comprising of the 500 largest companies by market cap listed in Shanghai and Shenzhen — has fallen over 6%, outpacing losses of more than 5% for the Shenzhen Composite and ChiNext Indexes that are dominated by tech stocks.

In what sums up the session so far perfectly, the SSE 50 — containing the 50 largest stocks by market cap listed in Shanghai — is currently outperforming with a decline of only 3.33%.

Hong Kong’s Hang Seng is also in the wars, nursing a decline of 3.83%.

Despite the sea of deep red in stocks, the Chinese yuan has only weakened fractionally against the US dollar as at the time of writing.

Chinese stocks will resume trade at 4pm AEDT.

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Theresa May's government edges closer to collapse as DUP threatens to pull the plug

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Theresa May Arlene Foster

  • The Democratic Unionist Party which props up Theresa May is threatening to pull the plug on their confidence and supply deal with the Conservatives.
  • The Northern Irish party is furious with reported plans for Northern Ireland to effectively stay in the customs union and single market during the backstop period.
  • This would mean new checks between Northern Ireland and the rest of UK after Brexit — a clear breach of the DUP's red line of new divergence between Northern Ireland and Great Britain.
  • The DUP has threatened to vote against the budget, which in times gone by would bring down a prime minister.

 

LONDON — Theresa May's fragile government is edging closer towards collapse after the Democratic Unionist Party threatened to withdraw their support for the prime minister over her controversial Brexit plans.

The party's Brexit spokesman, Sammy Wilson, wrote on Thursday morning that the UK government is treating the pro-union DUP like a "soft touch who can be pushed around" over the thorny issue of the Irish border.

Wilson adds: "The road which the leaks and briefings is outlining is the road to parliamentary defeat for any deal the prime minister brings forward. She will not have DUP support, regardless of whether the government tries to bribe, bully or browbeat us into accepting it."

In the first sign of a crack in the government, the DUP abstained on a Labour amendment to the Agriculture Bil on Wednesday.

Now the Northern Irish party, which has nine MPs in the House of Commons, reportedly intends to vote against the UK government's upcoming autumn budget if it doesn't change course on the question of the Irish backstop.

Budget votes have historically been regarded as confidence votes in the prime minister. Although it wouldn't automatically trigger her downfall under the terms of the Fixed Term Parliaments Act, losing a budget vote would be a massive humiliation for May and lead to immediate calls for her to resign.

What's the problem?

The DUP is furious over the reported details of the backstop agreement being thrashed out by UK and EU negotiators in Brussels.

The backstop is the insurance policy for making sure the frictionless border between Northern Ireland and the Republic is maintained after Brexit. It will come into effect at the end of the proposed transition period, in January 2021, unless a new trading arrangement which protects the open Irish border is in place.

Under plans currently being negotiated, the UK will effectively remain in a customs union with the EU during the backstop period, while Northern Ireland alone will remain fully aligned with the European single market.

This plan is controversial as would it mean new checks between Northern Ireland and the rest of the UK which breach the DUP's redline of no divergence whatsoever between the two.

Michel Barnier

The EU's chief Brexit negotiator Michel Barnier said on Wednesday that although some checks can take place away from the border, those on live animals and animal-derived products would have to take place at the border. Not only that, but these checks would increase tenfold on what happens currently.

"There will be administrative procedures for goods travelling from the UK to Northern Ireland which do not exist today. I understand this is politically sensitive, but Brexit is not our [the EU’s] choice," Barnier said yesterday.

There is also the issue of trade. If the Northern Ireland effectively stays in the customs union and single market for a period of time after Brexit, it will be unable to participate in any new trade deals signed by the UK government.

DUP leader Foster was furious after meeting with EU figures on Wednesday. In a statement, she said: "We will not burden future generations with a deal which diminishes Northern Ireland’s position in the United Kingdom."

So what next?

The DUP's threat to vote against the budget is a sign that the confidence and supply deal agreed between them and the Conservatives following last year's general election could be about to collapse.

On Wednesday night, DUP MPs abstained on a piece of agricultural legislation on which they had been expected to back the government, in a message to Prime Minister May that they are not bluffing.

If the DUP does vote down the budget — which will be revealed by Chancellor Philip Hammond later this month — the chances of another early general election will crank up a few notches, as May's leadership would be in peril.

Government sources pushed back on Wednesday, telling journalists that this would be a breach of the confidence and supply deal, and that the DUP would have to give back the £1 billion it received as part of that arrangement.

Theresa May Arlene Foster

And what about Brexit?

It's looking increasingly likely that if May is going to get a Brexit deal through Parliament, she will have to do so without the support of 9 DUP MPs. That would make an already difficult task even tougher. 

The DUP was last night backed by leading Brexiteers Boris Johnson and Steve Baker. Former Brexit minister Baker tweeted "no one should underestimate their [DUP's resolve] while Johnson said the reported backstop plan would make the UK an "EU colony." The prime minister is becoming increasingly isolated.

And to make the prime minister's headache even more acute, around 30 Conservative party's pro-EU MPs are reportedly planning to form an official group counterbalance the Jacob Rees Mog-led ERG pro-Brexit group.

In summary, the many parliamentary factions which have for months threatened to derail both May's Brexit plan and her leadership have erupted into life — and MPs have only been back from recess for two days.

Figures in London and Brussels are increasingly confident that negotiators will be able to reach a final Brexit deal. Whether this deal will be accepted by a majority of MPs in Westminster is a different question altogether.

SEE ALSO: Liam Fox under pressure to rule out adopting US food standards in Brexit trade deal with Trump

DON'T MISS: New poll finds the UK public increasingly want a soft Brexit

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Jeff Bezos' fortune plummeted $9.1 billion after Amazon was crushed in the stock market rout

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Jeff Bezos

  • Jeff Bezos' fortune dived $9.1 billion after tech stocks were demolished in a big stock market selloff on Wednesday.
  • Of the top five tech FAANG stocks, Amazon's was hit the hardest by the slump.
  • As a consequence, Bezos' lost more than anyone else on the Bloomberg Billionaires Index.

A huge stock market slump on Wednesday cost the world's richest man more than $9 billion.

Jeff Bezos lost $9.1 billion on Wednesday, leaving him with a net worth of $145.2 billion. This sets Bezos back to his net worth in July, the same month the Amazon CEO became the world's richest man in modern history.

Many billionaires' fortunes shrank on Wednesday, with the world's 500 richest people taking a collective hit of $99 billion, the second worst day for Bloomberg's Billionaire Index in 2018. Facebook CEO Mark Zuckerberg lost $2.5 billion, but Bezos was the worst affected.

Here's the top 10 on the Bloomberg Billionaire Index:

Bloomberg Billionaire Index

All the FAANG (Facebook, Amazon, Apple, Netflix, and Google) companies were hit hard on Wednesday, but Amazon took the biggest fall. The Seattle-based company's stock plunged 6%, vaporizing $56 billion of its market capitalization.

SEE ALSO: Tech gets demolished: The 5 hottest tech stocks just lost $172 billion in market value

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Italy's stocks are in bear market territory as the global market rout reignites budget crisis fears

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grizzly bear

  • Italian stocks enter bear market as global sell-off adds to domestic economic pressures in the country.
  • The benchmark FTSE MIB index was down 20.1% from its recent high on Thursday morning, marking bear territory.
  • Italy's budget crisis has been a major driver of recent weakness, with the country's government clashing with the EU over proposed spending.
  • You can follow Italian stocks at Markets Insider.

Italian stocks briefly entered a bear market on Thursday as the sell-off gripping global markets adds to the country's already dire economic situation. (A bear market is reached when an index drops 20% or more.)

The benchmark FTSE MIB index was down around 1.6% this morning, trading at a low of 19,414 points as of 9:10 a.m. BST (4.10 a.m. ET), dragged lower by a global flight to safety triggered by fears around rising bond yields, and a stern warning from the International Monetary Fund about threats to global financial stability. 

That meant the FTSE MIB had fallen 20.1% since its recent high of 24,544 points in May this year. Since dipping below that level, the index has rebounded a little, but remains within a whisker of a bear market.

The chart below illustrates that drop:

FTSE MIB oct 11

While most stock markets are contending with fears of a global slowdown, Italian investors have also got to consider a cocktail of domestic risks, largely linked to the country's ongoing budget crisis, which has seen its government clash with the European Union over its spending plans.

The budget proposes increasing both Italy's overall government debt and its deficit in the short run. This in turn risks the country falling foul of EU fiscal rules.

European Union authorities have already asked Italy to amend its budget to avoid such an outcome, but the coalition's eurosceptic party leaders are refusing to do so.

"The government is still calling out the EU for its restrictive fiscal rules, vowing not to back down in the face of demands to amend its 2019 budget," Claus Vistesen of Pantheon Macroeconomics wrote to clients on Thursday.

The situation has been made even worse by a discussion of the widening spread between Italian and German bond yields by Salvini on Wednesday.

The spread — the gap in yield — between Italy's 10-year bond and the 10-year German bund is now over 3% and rising, reflecting how much riskier Italian bonds are than German ones in the eyes of investors.

"Mr. Salvini committed the cardinal sin yesterday of giving markets a target," Vistesen said in a report. Salvini said, Vistesen wrote, that the 10-year BTP-Bund spread won’t go to 4% and that the government will take action if it does. 

"You don’t have to be a bond market veteran to predict what happens next," Vistesen said.

A further widening of the spread between German and Italian yields would be seen as reflecting increased fears about Italy's economic state, which in turn would likely see stocks in the country sell-off even more aggressively.

SEE ALSO: Is Italy the new Greece? These 6 charts explain why Italy is rattling markets

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A Chinese intelligence agent has been extradited to the US to face espionage charges

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air force

  • An alleged operative for the Chinese Ministry of State Security has been arrested and extradited to the US to face espionage charges, the Justice Department announced on Wednesday.
  • Yanjun Xu is accused of attempting to steal trade secrets from major US aviation and aerospace companies.
  • Xu's extradition represents a major victory for the Trump administration, which has accused China of intellectual property theft as part of its attempt to rein in a regime that has become increasingly aggressive under President Xi Jinping.

An alleged spy for the Chinese Ministry of State Security (MSS) was arrested in Belgium and extradited to the US on accusations he tried to steal trade secrets from US aviation and aerospace companies, the Justice Department announced Wednesday.

The extradition of Yanjun Xu, a director at the Chinese Ministry of State Security, is the first time a Chinese intelligence officer has been brought to the US to face trail, according to The New York Times.

“This indictment alleges that a Chinese intelligence officer sought to steal trade secrets and other sensitive information from an American company that leads the way in aerospace,” said Assistant Attorney General John Demers. “This case is not an isolated incident. It is part of an overall economic policy of developing China at American expense."

Yanjun is accused of committing such acts of espionage against leading American aviation companies since 2013 until his arrest in April. Investigators said one of his tactics involved prying information from American experts in the aviation and aerospace industries by asking them to give lectures at universities in China and paying for their travel expenses.

Yanjun's extradition represents a major victory for the Trump administration, which has accused China of intellectual property theft as part of its attempt to rein in a regime that has become increasingly aggressive under President Xi Jinping.

If convicted on conspiracy charges, Yanjun could face a maximum of 15 years in prison. A conviction on the charge of attempting to steal trade secrets carries a 10-year maximum prison sentence.

"The Trump administration has been saying that the roots of its trade war with China is to protect massive amount of intellectual property," Abigail Grace, an expert on US-China relations, told Business Insider.

China and the US have are currently in the middle of a trade dispute that has resulted in more than half of all Chinese goods being subjected to import tariffs.

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There's an obvious opponent who 'would bring the best' out of Conor McGregor, according to his head coach John Kavanagh

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Conor McGregor next UFC fight Nate Diaz trilogy

  • Conor McGregor's coach says there is one opponent out there who will "bring the best out of him," after the Irish striker was submitted by Khabib Nurmagomedov at UFC 229 on Saturday.
  • Coach John Kavanagh says a trilogy bout with Nate Diaz would be "a beautiful fight" as it is a "great personality match-up" and a "great skill clash."
  • McGregor and Diaz have fought twice before. Diaz made McGregor tap in a two-round blowout at UFC 196, before McGregor sought his revenge with a decision win at UFC 202.
  • It is unclear who McGregor will fight next, as he is desperate to challenge Nurmagomedov again.
  • But one thing is for sure, McGregor will be back — and he will likely be back next summer.
  • Read all of Business Insider's UFC 229 coverage here.

Conor McGregor wants a rematch against Khabib Nurmagomedov but there is an alternative opponent who would "bring the best out of him," according to his coach John Kavanagh.

McGregor was out-struck by Nurmagomedov, dropped in the second round, and eventually lost when the Russian wrestler submitted him with a tight neck crank in the fourth round of their wildly-entertaining UFC 229 brawl on Saturday.

The next day, McGregor tweeted that he was "looking forward to the rematch" and later claimed that he "won the battle" and that the war with Nurmagomedov is not yet over.

Not everyone is convinced the fight, which was one-sided, warrants a follow-up. "The fight was very clear,"UFC commentator Joe Rogan said at the time. "Khabib dominated the fight, won the fight by submission. There's no need for a rematch."

McGregor has alternative options and Kavanagh believes there is an opponent out there who is a "great personality match-up" and a "great skill clash." That opponent is McGregor's old rival, Nate Diaz.

Nate Diaz forces Conor McGregor to tap out

McGregor and Diaz have fought twice already. McGregor lost in the second round of their first ruck when Diaz made him tap to a rear-naked choke at UFC 196 in March, 2016. But McGregor evened the score four months later when he won a five-round decision at UFC 202.

Speaking on "The MMA Show", a podcast on the "Joe Rogan Experience," Kavanagh said a trilogy fight "is so appealing."

'It's a beautiful fight'

Kavanagh, a second-degree black belt in Brazilian jiu-jitsu, said: "I'm a grappler at heart, but I know a jiu-jitsu tournament will put you to sleep. But anybody can see a punch hitting someone in the head, and them falling down — that's exciting.

"Him and Diaz is a great personality match-up, it's such a great skill clash. If I was to design someone who would bring the best out of Conor, who could hit back, take a big shot and put up with the trash talk. It's a beautiful fight. I'd love to see that rematch."

Though it is a fight that excites Kavanagh, it is clearly not McGregor's first choice as the 30-year-old wants Nurmagomedov again.

"Definitely the Khabib one, that's the fire," Kavanagh said.

Conor McGregor judo throws John Kavanagh

It is unclear when McGregor will return to full competition. He was recently given a medical suspension, which means he will be unable to fight until early November, and won't be permitted to engage in contact training, including sparring, until the end of the month.

Kavanagh hoped for an event on March 16, one day before St Patrick's Day, at a venue like Madison Square Garden in New York City or the TD Garden in Boston. But he suggested a more realistic timeline would be next summer.

Regardless, McGregor is desperate to return to elite competition. After all, he recently posted a photograph on Instagram with one simple caption: "I'll be back."

SEE ALSO: Stats: Nurmagomedov dominated significant head shots (58 to 34), scored a knockdown, and won 1-0 in submissions

DON'T MISS: Conor McGregor, sporting a black eye, claims he 'won the battle' and the war with Khabib Nurmagomedov isn't over

UP NEXT: Conor McGregor has been suspended from fighting for a month because of the beating he took from Khabib Nurmagomedov

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We got a vegan and meat-eater to try the 'Bleeding Burger' that is completely plant-based — here's what they thought

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  • The 'Bleeding Burger' is completely plant-based.
  • Its ingredients include coconut oil, oats, mushrooms and beetroot.
  • The burger is sold in Marston pubs across the UK.

 

Moving Mountains have created a vegan burger that closely resembles a beef burger.

The burger - which is nicknamed the 'Bleeding Burger' - is served with lettuce, tomatoes, jackfruit and a side of fries and onion rings.

We got our resident vegan and meat-eater to review it, here's what they thought.

Produced by David Ibekwe.

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Here's what time Princess Eugenie's royal wedding starts where you live — and how to watch it live online

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Princess Eugenie Jack Brooksbank engagement portrait

  • Princess Eugenie is marrying Jack Brooksbank on Friday, October 12.
  • Coverage of their royal wedding will begin at 9.25 a.m. (BST) on ITV for those in the UK.
  • The official ceremony will begin at 11 a.m. (BST) and last for around an hour.
  • Scroll down to see what time the celebrations will start where you live and how you can watch it online or on TV.

Just when you thought royal wedding season was over, the British monarchy has another matrimonial event just days away.

The Queen's granddaughter Princess Eugenie is marrying Jack Brooksbank on Friday, October 12 in St. George's Chapel at Windsor Castle — the same place Prince Harry and Meghan Markle tied the knot earlier this year.

The Dean of Windsor will conduct the ceremony that officially begins at 11 a.m. (BST) and should last for about an hour. Following the service, the couple will make a short carriage procession around Windsor, which will offer some members of the public a glimpse of the newly married couple.

1,200 members of the public managed to secure an invite to the wedding after a ballot was released in August.

The Queen will then host a private reception for friends and family at Windsor Castle before the newlyweds make their way to Windsor Lodge for a second reception hosted by the Duke and Duchess of York (Princess Eugenie's parents).

What time does it start where I am?

Live coverage on most channels will begin up to a couple of hours before the official start time of the wedding so that viewers can watch the arrival of guests, the royal family, and the bride and groom.

For instance, in the UK, cameras will start rolling from 9.25 a.m. until 12.30 p.m. even though the ceremony inside the chapel will not officially begin until 11 a.m.

However, for the ceremony itself, here's what time the royal wedding will start in major cities across different time zones on Friday, October 12:

  • London (BST) 11 a.m.
  • Paris (CEST): 12 p.m.
  • Moscow (MSK): 1 p.m.
  • Singapore (SST): 6 p.m.
  • Tokyo (JST): 7 p.m.
  • Sydney (AET): 8 p.m.
  • Auckland (NZDT): 11 p.m.
  • Honolulu (HAST): 12 a.m.
  • Los Angeles (PT): 3 a.m.
  • Denver (MT): 4 a.m.
  • Chicago (CT): 5 a.m.
  • New York (ET): 6 a.m.

How can I watch it?

UK

ITV will be airing the celebrations in a special edition of "This Morning" helmed by Eamonn Holmes and Ruth Langsford, which will kick off at 9.25 a.m. and finish at 12.30 p.m.

Meanwhile, the BBC will host highlights of the ceremony later that day after deciding not to run the wedding in full.

ITV will also broadcast a highlights reel under the title "The Royal Wedding: A Family Celebration" at 8 p.m. on Saturday.

USA

TLC announced last Thursday that it would broadcast Princess Eugenie's royal wedding live, in full. US fans will have to get up early if they want to catch the nuptials, though, as coverage will start at 4.25 a.m. (ET).

The network told Harper's Bazaar that the West Coast would be on a standard three-hour tape delay, meaning it will also air at 4.25 a.m. in that time zone (PT).

Australia

Channel 7 will air the wedding live at 8 p.m. (SST), according to New Idea. You can also stream it on 7PLUS.

New Zealand broadcasters have yet to announce any plans for coverage.

Online

The royal wedding will also be broadcast on the Royal Family's YouTube and Facebook pages, according to The Telegraph.

Viewers in the US can also use the TLC Go app to stream the event live.

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Bitcoin tanks as cryptocurrencies join in global market bloodbath

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Screen Shot 2018 10 11 at 09.49.16

  • Cryptocurrencies across the board are nursing big losses on Thursday as the global market sell-off hitting traditional assets spreads.
  • All major crypto assets are down on Thursday, with the likes of ethereum and bitcoin cash losing more than 10% of their value.
  • Bitcoin plunged more than 7% overnight, but has now recovered a little, and is trading down roughly 5%.
  • You can follow all the latest cryptocurrency prices at Markets Insider.

Cryptocurrencies across the board are nursing big losses on Thursday as the global market sell-off hitting traditional assets spreads.

Bitcoin, the benchmark cryptocurrency, dropped suddenly and sharply in Asian trading overnight, losing as much as 7%, before rebounding a little.

It is now holding at a loss of around 5% on the day, trading at $6,266 per coin.

While bitcoin has led the way lower on Thursday, other major cryptocurrencies including Ether, Ripple, and bitcoin cash have witnessed even larger falls. Here's the scoreboard:

Previously, bitcoin and other cryptocurrencies tended to rally during periods of poor performance for traditional assets like stocks, reflecting their status as something of a haven. However, in recent months that has flipped, with cryptocurrencies tending to follow traditional stock markets in their moves.

SEE ALSO: Global markets are getting pounded as fear grips investors

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Jake Paul's girlfriend says he lives with all of his assistants because 'he doesn't do well with being alone'

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jake paul

  • YouTube celebrity Jake Paul lives in a mansion with assistants as well as other "Team 10" members.
  • His girlfriend and coworker, Erika Costell, says it's because he "doesn't do well with being alone."
  • Costell said it's an enormous amount of pressure to live with a group of people who depend on him for their livelihoods.

The newest episode of Shane Dawson's docuseries about YouTube celebrity Jake Paul reveals the truth behind the Team 10 house.

Like many other collectives of YouTube celebrities, Team 10 — a group led by Paul — all live together and film their frat house-like antics for video content.

Paul is one of the biggest celebrities on YouTube, and the house he rents is more like a mansion. The people who live in it aren't just Team 10 members; they also include his personal assistant, trainer, and chef. Paul's father, who has some management responsibilities for the group, also lives there.

"Everyone that you see here, lives here,"  Erika Costell, a member of Team 10 and Paul's girlfriend, told Dawson.

Costell said Paul prefers to keep people close because he doesn't want to be alone.

"He doesn't do well with being alone," she said. "He keeps people around because he appreciates people who he can trust to be around him all the time."

Costell also suggested the dynamic may not be healthy for him. Paul acutely feels the stress of living with a bunch of people who depend on his personality and business acumen for their livelihoods, she said.

"Living in this house — it's not good for anybody," Costell said. "I think it's the pressure of everybody relying on you like that. When you wake up and everyone is relying on you to live — whether you realize it or not, that's a lot of energy being taken from you."

For more great stories, head to INSIDER's homepage.

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10 things Princess Eugenie can do that Meghan Markle and Kate Middleton can't

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eugenie kate

Princess Eugenie is, obviously, an important member of the royal family. Still, even with her title, she does not live the same life that Princes William and Harry do. Eugenie is not a "working royal," which basically means that she doesn't carry out duties in the queen's name.

Because of this, Eugenie doesn't have to follow the same rules that her cousins-in-law Meghan Markle and Kate Middleton do.

In light of Eugenie's upcoming wedding on Friday, here's a reminder of the things she can do that both Markle and Middleton can't:

Princess Eugenie is allowed to have a regular job.

Once Markle and Middleton married Princes Harry and William, they devoted their lives to the royal family. Neither are allowed to have jobs outside of their royal duties. Although Eugenie has her own royal roles, she is allowed to have a job outside of that life.

Eugenie is currently a director at the Hauser & Wirth art gallery in London. In a 2016 interview with Harper's Bazaar, she said her role included managing, planning events and special projects, and working with artists.



She can wear whatever color nail polish she chooses.

It might not be an official rule, but it's pretty well-known that Queen Elizabeth II likes neutral, translucent nail shades, and strongly dislikes anything bright or dark. You'll notice that Middleton and Markle stick to light, neutral shades for their manicures.

Eugenie, on the other hand, can wear whatever color nail polish she'd like. She's often pictured with dark nails or experimenting with nail art.



She is allowed to take selfies.

Markle and Middleton are strongly discouraged from snapping selfies with fans. Eugenie, however, is free to take as many selfies as she'd like … and she can post them wherever she wants.



See the rest of the story at Business Insider

Director Ryan Coogler is reportedly returning for the 'Black Panther' sequel

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Ryan Coogler

  • Ryan Coogler has signed on to write and direct the sequel to "Black Panther," according to The Hollywood Reporter.
  • Production will begin either at the end of 2019 or early 2020.

 

Ryan Coogler has signed on to write and direct the sequel to his massive hit "Black Panther."

The Marvel movie that made over $1.3 billion at the global box office solidified Coogler as one of the top directing talents in Hollywood, as the movie followed the success of his previous hit, "Creed."

Coogler is set to begin writing the sequel to "Black Panther" next year with an eye to begin production in late 2019 or early 2020, according to The Hollywood Reporter.

The director is also working on the drama, "Wrong Answer," which will star Michael B. Jordan (who has worked with Coogler previously on "Fruitvale Station,""Creed," and "Black Panther"). Coogler is also the executive producer on the LeBron James-starring "Space Jam" sequel.

SEE ALSO: "First Man" screenwriter explains what upset him the most about the flag-planting controversy

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Veterinarians saved a tarantula named 'Spidey' that got trapped in duct tape and the internet is falling in love with him

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tarantula vet

  • Veterinarians at Newark Veterinary Hospital in Ohio treated a tarantula named Spidey.
  • Spidey got tangled in duct tape, and his owner was worried that they would pull off his legs by removing it.
  • The vets used tape removal spray to safely detach the tape.
  • A video of Spidey's rescue is going viral, and even arachnophobia think he's adorable.

When Spidey the tarantula got into a spot of trouble with a piece of duct tape, the veterinarians at Newark Veterinary Hospital in Ohio came to the rescue.

Spidey's legs got tangled in a piece of duct tape, and his owner was worried that if they pulled the tape off, they would take some of his legs with it.

It was the first time the veterinarians at Newark Veterinary Hospital had treated a tarantula, but they had the right tool for the job: tape removal spray.

After a few quick spritzes and gentle tugs, the tape came right off.

Dr. Jodi Houser submitted a video of the encounter to the Facebook page I Love Veterinary Medicine, where it has nearly 150,000 views.

People are falling in love with Spidey.

"LOOK HOW CUTE HE IS Poor little buddy got into a kerfuffle with some duct tape" one commenter wrote.

"Like a little, fuzzy, multi legged puppy," another person commented.

Even those who aren't usually the biggest spider fans agreed were glad that Spidey was okay.

"I'm scared of spiders but I think this is so great! And cute!" a commenter wrote.

Other unconventional pet owners also chimed in.

"That happened with my snake and I just rubbed olive oil around the taped area. Came off super easy with no damage!" one user commented.

Newark Veterinary Hospital did not immediately respond to INSIDER's request for comment.

Visit INSIDER's homepage for more.

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These charts show how pumped up HR departments are about AI — even if many of them are still relying on paper documents

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AI

  • The vast majority of human resources departments at larger companies plan to significantly increase their tech spending in the next two years, consulting company Bain found in a new survey.
  • Much of that investment will go to artificial intelligence technologies.
  • Some HR departments are already using AI and related technologies for things such as workforce planning and performance management, Bain found.
  • But many HR departments are still relying on older processes, including paper forms, and most have had trouble getting the most out of the technology they're already using.

Many corporate human resources departments are such technological backwaters that they still rely on Excel spreadsheets or even paper documents for many of their tasks or services.

But the vast majority of HR departments expect to make a quantum leap in their IT systems in just the next two years, with many of them embracing artificial intelligence to help with their functions, according to a new study from consulting firm Bain.

"HR departments are rapidly adopting new technologies," Michael Heric, a partner with Bain's Performance Improvement practice, said in the report.

It warned, though, that "the appetite of HR leaders for more digital tools may outpace their ability to absorb the tools."

For its survey, Bain polled human resource executives and managers at 500 large companies in the US, Germany, and the United Kingdom. The companies, which each have more than $500 million in annual revenue, including both publicly traded and privately owned organizations and represented a broad range of industries from manufacturing to retail to healthcare.

Some HR departments still rely on paper forms

Many of the HR departments are still relying on older processes for many of their services. Depending on the service, somewhere between 23% and 31% of such departments still rely on manual techniques, such as entering data into a basic spreadsheet or relying on paper forms, the study found.

For example, 31% of HR departments surveyed still rely on manual processes for career management of employees. Some 27% rely on such techniques to manage compensation and benefits. And a full quarter of HR departments even use manual processes to handle their payrolls.

Bain study on artificial intelligence — AI — in human resources departments (HR) — chart showing reliance on manual processesHR professionals expect to dramatically reduce their reliance on such outdated techniques and processes within the next two years, according to Bain's study. By then, just 7% expect to be using manual processes for career management or compensation and benefits. And just 2% expect to be using such techniques for their payroll.

Many departments are planning to up their tech spending significantly in the next two years to replace or upgrade older systems and processes. Some 57% of the HR leaders surveyed expect to increase their department's IT budget by between 1% and 10% a year during that time period and a full quarter of them expect to their annual budgets to go up by more than 10%.

Bain study on artificial intelligence — AI — in human resources departments (HR) — Chart on spending expectations

Much of that investment will go toward artificial intelligence and related technologies, according to Bain's study.

The HR departments at most of the companies surveyed already have bought into AI. Some 54% said they're using artificial intelligence in at least one of their functions. The most popular places where they're using it is in workforce planning and performance management.

Bain study on artificial intelligence — AI — in human resources departments (HR) — Chart on AI investment and use

Some companies surveyed are already seeing success from using the technology. Unilever, for example, is using AI to help with screening job candidates; the technology has helped cut the average time it takes to hire new people by 75%, according to Bain.

"Artificial intelligence in all its forms ... has already demonstrated promising results," Heric wrote.

Many plan to invest in AI

Other companies who haven't yet invested in AI expect to do so soon. Some 24% of the HR leaders surveyed said that while they aren't using AI yet, they expect to be using it in at least 1 of their processes within two years. By then, majorities of those surveyed expect to be using the technology in workforce planning, performance management, compensation and benefits, and learning and development.

But the rapid adoption of AI and other digital technologies, such as cloud services, could cause problems.

As Reuters reported this week, Amazon had to shut down an AI recruiting tool it had built because they found the technology had emulated the unconscious bias in certain people and was discriminating against women candidates for engineering jobs.

And, as Bain noted, many HR departments have already had trouble integrating new high-tech processes into their operations. Some three-fourths of respondents said their tech systems have not reached "optimal performance." Meanwhile, many expressed frustration with having too use too many digital tools; having to work with too many different data source, which frequently weren't connected together; and having to try to figure out how to use confusing interfaces.

"HR executives may be overconfident in how quickly they can make the shift [to AI and other new technologies], given how rocky the road has been so far in most HR departments," Heric wrote.

Now read:

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Everything you need to know about Princess Eugenie, the 'non-working' royal with an approximate $4.6 million net worth

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princess eugenie

Princess Eugenie, the youngest daughter of Prince Andrew and Sarah Ferguson, is set to wed Jack Brooksbank on Friday. The royal and the London socialite, who started dating in 2010 after they met on a ski trip, got engaged in Nicaragua in January.

The couple's big day will be similar in many ways to Prince Harry and Meghan Markle's May wedding. Like the Duke and Duchess of Sussex, Eugenie and Brooksbank will exchange vows in St. George's Chapel at Windsor Castle before riding through Windsor in a carriage procession. Their wedding party will also include Prince William and Kate Middleton's two eldest children, Prince George and Princess Charlotte.

Ahead of Eugenie's wedding, here's everything you need to know about the British royal.

Her name is pronounced "YOO-jenny."

People regularly mispronounce Eugenie's name, calling her anything from "you-junny" to "you-jenny."

In a 2008 interview with The Telegraph, she cleared things up, saying it's pronounced "YOO-jenny," with the stress on the first syllable. The royal explained: "Whenever we used to meet foreign people who were struggling with it, my mum and I would help them by saying, 'It's like Use Your Knees.'"

According to Eugenie, her friends call her by the nicknames "Youj" or "Bouj."



She is the Queen's third-youngest grandchild.

Eugenie is the youngest daughter of Prince Andrew, Duke of York, and the younger sister of Princess Beatrice. Prince Andrew is the third of Queen Elizabeth II's four children with Prince Philip.



She and her fiancé are distant blood relatives.

Brooksbank and Eugenie are third cousins once removed. The two share a common ancestor: Thomas William Coke, a 19th-century aristocrat and the 2nd Earl of Leicester.

They're not the only ones in the royal family who are distantly related. Queen Elizabeth II and Prince Philip are third cousins who share the same bloodline. While the queen is a direct descendant of Queen Victoria on her father's side, Philip is related to Victoria on his mother's side.



See the rest of the story at Business Insider

13 popular Halloween candies you didn't realize are vegan

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healthy halloween candy smartiesVegans generally don't consume food items made with animal meat, fish, eggs, gelatin, and dairy. Some vegans don't eat honey, either. As a result, Halloween can be tricky for vegans because many popular Halloween candies on the market are made with animal products.

Fortunately, there are a bunch of Halloween candies you can eat if you're vegan. Here's a list of vegan-friendly candies to enjoy year-round. 

Smarties are a sweet choice.

Smarties are great for mindful snackers looking for a little something sweet to hold them over through a long night of trick-or-treating.

This candy's classic flavors include orange/cream, pineapple, cherry, strawberry, grape, and orange.



Airheads are nice and chewy.

All flavors of regular airheads, as well as Airhead Xtremes, are vegan. So, you can choose between sweet and sour flavors this Halloween.



Dots are a fruity classic.

If Halloween makes you nostalgic for sweet, sticky candies, you're in luck. These fruity gumdrops are vegan-friendly and are sold in a variety of flavors from originals like Cherry to tropic twists like Island Nectar, and Sour Grape.



See the rest of the story at Business Insider

Richard Branson and Virgin Group are cutting ties with the Saudi Government after the disappearance of Jamal Khashoggi

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richard branson

  • Sir Richard Branson and Virgin Group are severing their business relationships with the Kingdom of Saudi Arabia.
  • In a blog post on Virgin Group's website, Branson announced that Virgin Galatic and Virgin Orbit will suspend its business dealings with the Public Investment Fund of Saudi Arabia. 
  • The decision to cut business ties with Saudi Arabia comes after the disappearance of the journalist Jamal Khashoggi from the Saudi Consulate in Turkey last week.

Sir Richard Branson and Virgin Group are severing their business relationships with the Kingdom of Saudi Arabia and its leader Crown Prince Mohammed bin Salman following the disappearance of Saudi journalist Jamal Khashoggi in Turkey last week.

In a blog post on Virgin Group's website, the company's founder announced that Virgin Galatic and Virgin Orbit will suspend its discussions with the Public Investment Fund of Saudi Arabia. 

"What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi Government," Branson said in the post. "We have asked for more information from the authorities in Saudi and to clarify their position in relation to Mr. Khashoggi."

In addition, Branson will also suspend his association with two tourism projects on the Red Sea. 

Khashoggi has not been seen since visiting the Saudi Consulate in Istanbul last Tuesday to pick up marriage documents. Turkish authorities believe the Washington Post columnist and critic of the Saudi Arabian Government was killed in the consulate. The 59-year-old had been living in exile. 

Here is Sir Richard's blog post in its entirety:

I had high hopes for the current government in the Kingdom of Saudi Arabia and its leader Crown Prince Mohammed bin Salman and it is why I was delighted to accept two directorships in the tourism projects around the Red Sea. I felt that I could give practical development advice and also help protect the precious environment around the coastline and islands.

What has reportedly happened in Turkey around the disappearance of journalist Jamal Khashoggi, if proved true, would clearly change the ability of any of us in the West to do business with the Saudi Government. We have asked for more information from the authorities in Saudi and to clarify their position in relation to Mr Khashoggi.

While those investigations are ongoing and Mr Khashoggi’s presence is not known, I will suspend my directorships of the two tourism projects. Virgin will also suspend its discussions with the Public Investment Fund over the proposed investment in our space companies Virgin Galactic and Virgin Orbit.

SEE ALSO: Here’s everything we know about the troubling disappearance of Saudi journalist Jamal Khashoggi

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Amazon uses a fake name from the TV show 'Seinfeld' to hide a secret data center in Virginia, according to WikiLeaks (AMZN)

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George Costanza Penske File Seinfeld Lazy Bad Employee

  • WikiLeaks has published the exact location of over 100 of Amazon's data centers for the first time ever on Thursday.
  • Previously, only the general area of these data centers was known for security reasons. 
  • The report shows that Amazon often uses pseudonyms to hide their presence, including one data center in Manassas, Virginia where Amazon is known as "Vandelay Industries"— a nod to Seinfeld fans. 
  •  All Amazon employees at the Manassas-based data center wear Vandelay Industry badges and use the Canstanza-imagined company name in all correspondence with the building manager. 

WikiLeaks has published the exact location of over 100 of Amazon's data centers for the first time on Thursday. Previously, only the general area of these data centers was known for security reasons. 

WikiLeaks reports that to keep these locations secretive, Amazon uses various pseudonyms for each facility.

Most notably, at its IAD77 data center in Manassas, Virginia, Amazon is known as "Vandelay Industries" — a nod to George Costanza and his unforgettable shenanigans at the unemployment office in Season 3 of Seinfeld. 

According to the WikiLeaks report, all Amazon employees at the IAD77 data center wear Vandelay Industry badges and use the Costanza-imagined company name in all correspondence with the building manager. 

There are 38 data centers located in Virginia alone and several in the Bay Area and near Seattle, according to the leaked report. Amazon has centers spread around the world in Europe, Asia, South America, Australia as well. 

WikiLeaks published a map pinpointing the precise location of Amazon's identified data centers along with the report. 

The WikiLeaks report notes that Amazon is the largest cloud provider for US intelligence community and is currently bidding on a $10 billion contract to build a private cloud for the Department of Defense. The bids for that contract are due on Friday. 

Amazon did not immediately return a request for comment. 

SEE ALSO: Kanye West revealed his iPhone lock code while in the Oval Office, and it's 000000

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